Business & Finance

4 Ways to Save Money

Updated 1 year ago

Buy only what you need- Look, you work hard and can still have fun, but think about why you are really spending money on this thing. If you’ve ever experienced a difficult financial time, you know what I need. The money we waste on things. And that’s fine, if you have it and you’re saving and you are charitable. But just a little disciple can save a lot of money.Wait- immediacy usually costs a lot more money, no matter the purchase. Whether it’s fast food or the immediate gratification of a new appliance, think first. Then buy. The habit of making your coffee or meal yourself, will save dollars a day that quickly add up. And shopping around for big-ticket items can save even more money.. Rethink fun- You can still HAVE fun, but going out all the time is too costly to keep doing it, especially if that is your several-times-a-week habit. Cut back on that and invite folks in for fun, look for fun and free events in your town and see the fun in being frugal.Regularly Checking the Details- Check out the fees, utility and other ongoing bills and examine changes in lifestyle, technology, your family’s habits that may allow you to discontinue some expenses. Never home? Why pay for cable? Citations: Marion Syversen, MBANorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out our website that includes weekly streaming videosWWW.NorumbegaFinancial.com The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer. Email management, archiving & monitoring technology powered by Smarsh, Inc. Disclosure:Only securities and advisory services offered through Wall Street Financial Group, Inc. Registered Investment Advisor. Member FINRA/SIPC. Wall Street Financial Group, Inc. and Norumbega Financial are separate entities, independently owned and operated. CR8654

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Frugal Holiday Meal

Updated 1 year ago

Celebrating any event or holiday is about sharing time and affection with friends and family. It is NOT about stress. So let’s note some ideas on having a frugal holiday meal.Prioritze- The celebrations are not about food, though a family’s favorites are a source of pleasure. The holidays are about relationships. It’s also not going to go into debt. Accept offers of help. ‘It’s better to give than to receive’ so receiving can sometimes be hard. Nevertheless, when YOU give, you like to do it and get grouchy when you are thwarted. So let others participate. Think about what you generally like to have as to food and beverages and be ready to modify your expectations based on circumstances.Plan- As I just mentioned, accept offers of help. Have guests bring any and all food and drink. Having prioritized the types of food and drink you are hoping to serve, as people ask to help offer them options of things to bring. You have to be okay with the way they cook their potatoes or the carrots. But you have already remembered this is about relationships and lnot controlling everything…Another way to plan ahead is to prepare parts of the meal as you can in advance. Cut bread into cubes to stuffing now, weeks ahead, and freeze till you’re ready.Make plenty of ‘inexpensive, filling side dishes,’ and another suggestion was to use your Halloween pumpkin for your thanksgiving pie. from scratch as it’s generally cheaper than mixes as one writer suggested. Shop- With the meat as the most expensive part of the meal, talk to friends and family and check out the deals in local shops and large retailers. Buy only what you will need. You don’t need to have days of leftover food. Side dish meals such as potatoes and carrots are less costly and will fill up hungry bellies.Beauty – Making the dinner and your house beautiful is part of what creates the uniqueness of the day. But think creatively to satisfy the needs. Need more dishes or chairs? Borrow what you don’t have, from friends, or your church. Decorate with freshly cut branches, pinecones, pumpkins and gourds from the garden. We live in the most beautiful state. So bring in that free beauty to delight your guests.Being together is the best part of the day. Citations:Marion Syversen, MBANorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out our website that includes weekly streaming videosWWW.NorumbegaFinancial.com The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer. Email management, archiving & monitoring technology powered by Smarsh, Inc. Disclosure:Only securities and advisory services offered through Wall Street Financial Group, Inc. Registered Investment Advisor. Member FINRA/SIPC. Wall Street Financial Group, Inc. and Norumbega Financial are separate entities, independently owned and operated. CR8651

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Being the Breadwinner

Updated 1 year ago

Many recent surveys are showing the growing trend of women as major breadwinners and in some cases, sole breadwinners, for families. When there is a single breadwinner what’s that mean in families?Living well – It is not a new occurrence to have a single breadwinner as for years, men were frequently working while women stayed home and ran households, managed kids and schedules. What is a growing trend is the move for women to be sole breadwinners. Latest figures show that in 1967 11+% of women were sole breadwinners by 2010 the number of women working as the family breadwinner was up to over 41%. Couples who manage this single breadwinner lifestyle well are those who communicate with each other and who remember their choices or the facts of life as they are and not be annoyed about what they wish life would be. Live in the present and accept how circumstances are in the now. When there is resentment – Resentment happens because of feelings of inadequacy, envy, and self-esteem. But the feelings can also result because the breadwinner feels alone and that their partner is doing less and less and enjoying that more and more. I know of couples who live very separate lives. Women who work full-time and whose husbands don’t help much with the children, chores or work. The only way to fix this kind of situation is to talk or the relationship is in serious jeopardy.Making it better- The problems come if one partner feels that the contributions of the non-breadwinner are inconsequential. Each spouse needs to value the work done by the other, communicate about worries or fears and find ways to appreciate the other. I have a friend who has come up with a creative way to have each person share in the duties neither wants to do. For every 5 minutes of TV time or computer time, they each give 5 minutes in chore time.Whatever approach you can think of to feel better about each person’s value and work, do this. Communicate kindly and remember you love each other.Citations:Marion Syversen, MBANorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out our website that includes weekly streaming videosWWW.NorumbegaFinancial.com The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer. Email management, archiving & monitoring technology powered by Smarsh, Inc. Disclosure:Only securities and advisory services offered through Wall Street Financial Group, Inc. Registered Investment Advisor. Member FINRA/SIPC. Wall Street Financial Group, Inc. and Norumbega Financial are separate entities, independently owned and operated. CR8569

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Pinching Pennies: The Warren Buffet Way

Updated 1 year ago

Great article in Forbes about the frugal habits of Warren Buffet whom many admire as a great investor. Here’s another side of ‘The Oracle of Omaha.’Kids- Mr. Buffet used a dresser drawer for his baby’s first bed. You don’t need to buy new everything at full price because your baby ‘deserves it. Buffet borrowed a crib for his second child to use. We don’t all think like that, especially when we are young. We sometimes have attitudes that don’:t match our financial reality.Food- Early in his career, Buffet, who was signing up clients with large agragate assets, called a friend to have a six-pack of soda brought over so Warren didn’t have to use room service and pay the inflated rates for food. You can save by bringing lunch to work, shopping for foods on sale, maybe even becoming more expert at couponing. Transportation- Warren Buffet drove a Volkswagen for years until his wife urged him to upgrade vehicles for his image. You can have nice cars and travel well, but if you ant to be frugal, find a cheap way to have that car or to travel. According to one Buffet quote he ‘works his way up to cheap.’ Warren buffet is a billionaire and according to the most recent Forbes Richest list buffet is #3 in the world.Citation- Marion Syversen, MBANorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out our website that includes weekly streaming videosWWW.NorumbegaFinancial.com The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer. Email management, archiving & monitoring technology powered by Smarsh, Inc. Disclosure:Only securities and advisory services offered through Wall Street Financial Group, Inc. Registered Investment Advisor. Member FINRA/SIPC. Wall Street Financial Group, Inc., Norumbega Financial and all other entities listed herein are separate entities, independently owned and operated. CR8565

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Couples and Spending

Updated 1 year ago

Biggest arguments between couples are sex and money. Let’s talk about differences between couples over money. Who’s the Spender- If one partner believes the bank account is their personal account making big ticket expenditures without consulting you? Vision- Do you share enough personal conversation with each other to have a vision of your lives together? Are you on the same path concerning the values of your lives? Having a chat about the bigger life issues helps you each remember how much you love each other and puts the present problem in the larger scenario of life together. Lay aside resentment and anger to discuss the reasons you love.Budget- Then get into some of the details of life. Sometimes overspending is happening because there is no family budget. So, one partner who may like shopping, shops. As a saver, the other partner is peeved. With a budget, it’s a bit easier to know how much each person has for the week – or the month- to use for fun and necessity.Further steps – If you don’t reach a balanced perspective with each other, please get to counselor. The issue could perhaps be a simple one to resolve if we can get past hurt feelings. Then again, it might be that one partner is attempting to salve emotions with having their way. Getting help from a great counselor may be just the ticket for you.You also might try separate accounts. You both may never agree on particular spending items and it might be better to simply keep to a budget but have your own account. Money arguments are very common in couples. It is one of the top two couple have regularly. If this is happening at your house, you are not alone!Citation: Marion Syversen, MBANorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out our website that includes weekly streaming videosWWW.NorumbegaFinancial.com The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer. Email management, archiving & monitoring technology powered by Smarsh, Inc. Disclosure:Only securities and advisory services offered through Wall Street Financial Group, Inc. Registered Investment Advisor. Member FINRA/SIPC. Wall Street Financial Group, Inc. and Norumbega Financial are separate entities, independently owned and operated. CR8567

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Finance is Fun: October 9, 2012

Updated 1 year ago

If you’re expected only source of retirement income is Social Security how can you maximize your money?  Wait- or suspend payments- if you haven’t started taking SS generally your income is maximixed the longer you wait. So if you can postpone taking payments until 70 you will receive the largest monthly amount. If you have already begun, you may be able to suspend paymenst until later years and possibly increase your monthly check amount by 32%. It’s worth considering.Pay off debt- make debt repayment as much a priority as possible in the years leading up to retirement or taking your benefits. I know the economy is tough, but this is money well spent.Keep working- if you are able to work, keep working. You may be able to raise your monthly Social Security check by working well into your sixties. Do it if you can.Be Frugal- finally, be frugal. If frugality is new to you, you will soon find many of us happily living a frugal lifestyle. Learn about couponing and how to save on groceries with others who have mastered this. Befriend others who are great crafters and second-hand experts and join in the fun of making old things new. Don’t feel like a victim. Have a great attitude and enjoy your beautiful life!Citation:http://www.foxbusiness.com/personal-finance/2012/09/24/how-to-live-off-social-security/http://www.pbs.org/newshour/businessdesk/2012/07/social-security-secrets-you-ne.htmlDisclosure:Only securities and advisory services offered through Wall Street Financial Group, Inc. Registered Investment Advisor. Member FINRA/SIPC. Wall Street Financial Group, Inc. and Norumbega Financial are separate entities, independently owned and operated. CR8564

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Finance is Fun: October 2, 2012

Updated 1 year ago

Shopping isn’t an Olympic event nor should it be anyone’s hobby. And many people like to shop. But are you a shopaholic, or a compulsive shopper?Anywhere from 2-9% of the population mostly women, are compulsive shoppers, or shopaholics.Feel high while shopping then depressed – this is a an exaggerated emotional high and low. It’s not the more normal, going downtown and lunching with friends, having fun that most people enjoy. This is more intense in the high and the low. Hide purchases – lying about shopping- are you hiding purchases from friends, and loved ones. Regularly hiding purchases? Are you lying about shopping at all? You can see how that wouldn’t be okay…Preoccupied with the next shopping opportunity – are you dreaming of what to buy next when you haven’t removed the tags or used the things bought from one month ago? Is your house full of unopened items, or unused clothing…? Honey bunch…Anxious when you don’t shop- do you feel upset, anxious, when you don’t shop? Even you are concerned- You may be already recognizing that this behavior isn’t cozy. And, it isn’t cozy. Let’s help.Curb it:Most people aren’t naturally good at handling money. We have learned to use some aides, some behaviors, to help us not loose control of our money.Cut up cards – or have very few. Keep them at home, on ice, or cut them up entirely.Use cash- have a set allowance and eventually develop the self control to stay within that budget.Track spending- know where your money goes.Consider- some are easily good at money, for most of us it’s work. So here are some of the ideas we use to keep our purchases  reasonable:                Hold off for big purchases – some people have a 30-day rule                Want or need – ask yourself do you NEED this or want it?                Save- maybe you will find that you really like saving!Avoid the trap – stay out of the stores. Don’t use shopping as a hobby.Talk to someone- there is no shame is seeking HELP! Be pragmatic. Get this talked over and feel better. Get control of your life and your money.Citations:http://www.fromshoppingtosaving.com/2012/05/how-to-tell-if-you-are-shopaholic.htmlhttp://www.livescience.com/2875-test-shows-shopaholic.htmlhttp://www.essortment.com/shopaholic-quiz-compulsive-shopping-45471.htmlhttp://www.moneytalksnews.com/2012/09/14/7-signs-youre-a-shopaholic/ Curb it:http://www.getrichslowly.org/blog/2007/11/12/are-you-a-shopaholic-six-steps-to-curb-compulsive-spending/Disclosure:Only securities and advisory services offered through Wall Street Financial Group, Inc. Registered Investment Advisor. Member FINRA/SIPC. Wall Street Financial Group, Inc. and Norumbega Financial are separate entities, independently owned and operated. CR8566

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Consumer Confidence

Updated 1 year ago

The consumer confidence index ‘fell’ in August to the lowest point since October of 2011. Why should I care? What does it mean?What is the Consumer Confidence Index? – This is an economic measure of consumer optimism. It is a unique survey compared to several others(such as the University of Michigan consumer sentiment survey). Two parts of the survey: 40% of the measure is the present concerns of consumers. How do you feel about costs (inflation), about your job and the stability of your income. The other 60% is a measure of your expectations. Why is the Consumer Confidence Index measured monthly?- Your vision of the future and if you plan on buying a car or other higher ticket items matters. If you are worried about your job, you see others losing their jobs, you won’t spend money. Then people who make the doo-dads you didn’t buy will be laid off, then you will feel more nervous.When consumers are confident about work and the future they shop, they buy things. The doo-dad makers needs more workers and adds a third shift. Those new hires buy things and the ebullience creates more confidence. Consumer spending is about 70% of all ‘economic activity’. Our buying bread, cars, pens and computers keeps money moving and the economy strong. If consumer confidence drops, or rises, the consequence matters a great deal to you personally and to manufacturers, and other businesses.August’s number – was down to 60.6 It is the lowest number in nine-months. September’s index will be released today (september 25th )Citation:Index:As a percentage of GDP -The University of MI sentimnent survey: Nine-month low:Marion Syversen, MBANorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out our website that includes weekly streaming videosWWW.NorumbegaFinancial.com The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer. Email management, archiving & monitoring technology powered by Smarsh, Inc. Disclosure:Only securities and advisory services offered through Wall Street Financial Group, Inc. Registered Investment Advisor. Member FINRA/SIPC. Wall Street Financial Group, Inc. and Norumbega Financial are separate entities, independently owned and operated. CR8493

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Questions to ask about Retirement

Updated 1 year ago

Apparently we are living and loving and not talking about some things, like retirement. One survey found that 41% of partners DISAGREED about if one of you would work in retirement and almost that same number disagreed about at what age you plan on retiring. Maybe we should chat. Here’s some things to talk over with the person you love.Do we really WANT to retire? When are we going to do that?What’s the vision? – volunteering? Traveling? Making community work your new ‘job’? Long-time relationships develop a lot of pressure with unspoken dreams.Where are we going to retire?- are you selling the house? Are you moving to camp? Is the snowbird’s life the life for you?What’s the plan with the nest egg? – Are you going to have an advisor? Manage it yourself? What if markets crash? How much are you planning on living on? – Do you have a budget? How much will you spend on your hobbies and interests in retirement? How does your partner feel about that?Do you have estate documents under control? – Who’s in charge of them? Are they up-to-date? Where are the accounts, the financial statements, the deeds, etc?What about family relationships? – what are you thinking you want from family relationships as you age? What have you learned helping your aging relatives about what might work well for you?Getting old- What is your attitude toward aging? Will you obsessed with regrets or despise your infirmities? What do you hope will be your legacy?- do you want to help with grandchildren’s education? What is the most important thing you would like to do before you die? Marion Syversen, MBANorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out our website that includes weekly streaming videosWWW.NorumbegaFinancial.com The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer. Email management, archiving & monitoring technology powered by Smarsh, Inc. Disclosure:Only securities and advisory services offered through Wall Street Financial Group, Inc. Registered Investment Advisor. Member FINRA/SIPC. Wall Street Financial Group, Inc., Norumbega Financial and all other entities listed herein are separate entities, independently owned and operated. CR8492

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Finance is Fun: September 11, 2012

Updated 1 year ago

Individuals are responsible for most of our own savings. Through 401ks and the like we have to manage the world of investing and that can be very difficult when you don’t have much time to teach yourself finance.  What is a mutual fund?A mutual fund is an professionally-managed investment that pools the money of many investors. The money is invested according to the plan noted in an accompanying prospectus and can be invested broadly or in a narrow sector.For instance, some mutual funds hold stocks of large companies, perhaps those in the U.S.as well as government bonds from perhaps the U.S and maybe other nations. These types of funds may be called equity and income funds or balanced funds. If the mutual fund invests internationally in companies in certain continents or throughout the world, including the U.S., and also invest in bonds of several countries it may be called a global fund.Mutual funds may also be much more narrow in their scope. The investments may be entirely in technology companies, manufacturers of computers, software, equipment, networking.  The mutual fund may be only and entirely in bonds, debt instruments. A fund may be all corporate bonds, from large or small companies borrowing money for expansion. The fund might be invested in municipal or government bonds. It may be invested in only one state’s bonds, such as California or New York. The mutual fund may also be a mix of bonds, corporate for instance, with varying degrees of risk, as higher risk may pay a higher rate of interest for the investors. Imagine lending money  young Bill Gates, college drop-out, money as he tinkered in his garage? You should examine the prospectus to study where the managers will invest the money. It will read like this: The fund will invest no more than 35% in U.S. companies specializing in something. And will also invest in government bonds in wherever.A mutual fund is a pool of investments. Your $100 buys a little bit of everything in the pool. You may own shares 30 or 500 companies. You can find out more buy reading the perspectus.Disclosure:Only securities and advisory services offered through Wall Street Financial Group, Inc. Registered Investment Advisor. Member FINRA/SIPC. Wall Street Financial Group, Inc. and Norumbega Financial are separate entities, independently owned and operated. CR8485

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Men, Women & Investing

Updated 1 year ago

Another survey, by the Bank of Montreal, this time about men and women and who beats whom on investing. It turns out it’s better for both with an advisor. Men: More enrolled in work-place savings programs Higher savings Consider their investment strategies ‘aggressive’ Investments did less well in the recent recession Are ‘as stubborn about seeking financial advice as they are about asking for directions’ Women: Have interrupted work years Less sure of their financial knowledge Lower savings Lower Social Security Longer livesThe survey found that using an advisor melded the best traits of men and women and produced the best results for both genders. I agree! Citation:Marion Syversen, MBANorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out our website that includes weekly streaming videosWWW.NorumbegaFinancial.com The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer. Email management, archiving & monitoring technology powered by Smarsh, Inc. Disclosure:Only securities and advisory services offered through Wall Street Financial Group, Inc. Registered Investment Advisor. Member FINRA/SIPC. Wall Street Financial Group, Inc., Norumbega Financial and all other entities listed herein are separate entities, independently owned and operated. CR8484

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A New Look at Investing Theories

Updated 1 year ago

I went to school for finance. Investing experts are always hoping to find the elusive mathematical equation that permits investing with NO RISK and a HIGH RETURN. I have studied the experts’ theories and the Nobel Prize winning Modern Portfolio Theory which states that a higher rate of return should be commensurate with those investors who take a greater risk.But new study, which surveyed stocks from 1990 – 2011 and recently published found that less volatile stocks produced greater returns than stocks with more volatility.Let me say this again: less volatile stock investments outperformed volatile stocks by an average of 17 percent. Less volatility in this study produced BETTER results for investors.The researcher was quoted in a professional journal that in every world market this math proved true. Less vacillating resulted in higher stock returns for investors than choosing investments with a more sporadic nature. Changeability is not a characteristic that, according to these findings, is a benefit in your stock research. Investments in the least volatile 10% of stocks produced better returns than the AVERAGE stock return and much better than the most volatile 10% of stock investments.This is sea change from highly regarded investment theory which states that risk is rewarded with a greater return. What does this mean for you? There is no math theory that will only make money for your investments. No equation for only good news and not bad. And every time we think we have the magic answer, we find another glitch or a better way. You discover YOUR risk tolerance, YOUR goals and objectives, YOUR time horizon, and do what’s best for YOU.Citation:See email, below with the link I hope. Otherwise, here’s the link:Marion Syversen, MBANorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out our website that includes weekly streaming videosWWW.NorumbegaFinancial.com Disclosure:Only securities and advisory services offered through Wall Street Financial Group, Inc. Registered Investment Advisor. Member FINRA/SIPC. Wall Street Financial Group, Inc., Norumbega Financial and all other entities listed herein are separate entities, independently owned and operated.

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Talk to Kids About Retirement Now…Really.

Updated 1 year ago

I love surveys. They are just a wealth of awesome information. One recent survey found that more people believe in ALIENS ON OTHER PLANETS than believe Social Security will still exist for their children’s retirement. So what are we doing to prepare our kids for that possible eventuality?!Imagine- a world without the safety net that is Social Security. If there is really NOTHINBG for people, which isn’t what I anticipate, but your guess about the future is just as valid as mine, then what would you need to do to prepare yourself or, more importantly, your children, for an eventuality such as that? Well, four percent is the common number used as the amount that might be withdrawn from savings for an income. $500,000 dollars saved would equal $20,000 income. Tell Them True Stories- Parents often hide bad things from or kids thinking it will protect them. Not everyone agrees with that method of parenting. The ups and downs of real life really can be a very good and memorable teacher of truths to kids. Speaking of truth, when it comes to finances apparently- according to this survey- 75% of parents LIE to their kids about money, with 15% lying WEEKLY. Your finances- We are all learning this finance stuff. So don’t be shy about the journey to financial fitness taking you on a trip as you discover mature answers that you never learned. Get your finances under control as you take steps to teach your children. And don’t be shy. You have won the Tour de France and yet you persist in teaching your children the skill or two-wheel bike riding. You can teach them something without being a perfect example of the skill.Teach them- The survey found that a parents’ advice to their children- believing there is not safety net- is to work hard. You cannot only give that advice. But that’s exactly what people ARE doing, nothing. In the survey only eighteen percent – 18% of respondents listed advice of ‘start saving early for retirement’ was needful advice. So, teach them: about savings, share your mistakes with them, teach them to save early for retirement.Citation:Marion Syversen, MBANorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out our website that includes weekly streaming videosWWW.NorumbegaFinancial.com The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer. Email management, archiving & monitoring technology powered by Smarsh, Inc. Disclosure:Only securities and advisory services offered through Wall Street Financial Group, Inc. Registered Investment Advisor. Member FINRA/SIPC. Wall Street Financial Group, Inc., Norumbega Financial and all other entities listed herein are separate entities, independently owned and operated.

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7 Retirement Tips

Updated 1 year ago

Sometimes planning can feel overwhelming. Where to start? Follow this yellow-brick road with tips from the Society of Actuaries. 7 Tips:Net worthHedge riskIncome vs. expensesWill it last?BucketsSuitable investmentsReview regularlyNet worth – Your net worth is what remains after you subtract what you OWE (liabilities) from what you OWN (assets). For most of us our house is our largest asset. The Society of Actuaries (SOA) counsel homeowners to consider ways to produce income from their home, renting it, downsizing, creating a source of income. Hedge risk- How much insurance do you have? What insurances might you need, and be able to afford, in retirement? Auto, home, life and long-term care insurance may be areas to consider for your retirement.Income vs. expenses – Apparently most people, according to this article, are not getting concrete with their retirement income figures. So they don’t realize how much they will actually have in Social Security, pensions and IRA income as compared to their expenses. You need to work the numbers into a budget. You can’t just dream this phase of life. You need to plan it as well as possible. Will it last? – After you get black and white with the expenses and your expected income sources, you can do the tweaking to discretionary spending that may need to be done. Figuring out for inflation in retirement is not the goal here. First figure out if you could, in today’s dollars, pay for the expected expenses of retirement. Consider living more modestly as a way to make the income streams last. Of total assets, traditionally about four percent from your total asset value is recommended as the draw per year. Since we are living longer, you also might consider postponing retirement in order to increase savings.Buckets- By this I and other financial advisors mean segregating money into short, medium and longer-term buckets of assets that may be invested or held differently because they will be used immediately and need to be ‘liquid,’ or will be used ten or more years from now and thus can afford to be invested differently and for growth. The diversification may also be a help.Suitable investments – Invest in instruments in which you feel a level of understanding. Don’t extend yourself into things you – or your advisor- don’t understand. Keep things suitable for you and your risk tolerance.Review regularly- Things happen in retirement. Health changes, divorce or death may occur. You need to check the plan regularly so that adjustments can be made.Take concrete steps to plan your retirement.Citation: Marion Syversen, MBANorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out our website that includes weekly streaming videosWWW.NorumbegaFinancial.com The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer. Email management, archiving & monitoring technology powered by Smarsh, Inc. Disclosure:Only securities and advisory services offered through Wall Street Financial Group, Inc. Registered Investment Advisor. Member FINRA/SIPC. Wall Street Financial Group, Inc., Norumbega Financial and all other entities listed herein are separate entities, independently owned and operated.

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Making a Student Budget

Updated 1 year ago

Got a student ready for college? Maybe you could help them figuring out their budget with this basic information.Income: Job Parent Student loans Scholarship Other Expenses: Rent Tuition Books/ computer Living- utilities / phone / food Transportation Entertainment / eating out Other This baby of yours is not simply getting book knowledge as they attend post-secondary school. With your help they will get some useful financial education, too. Do a computer search student budget worksheet or template for examples.Citations:Marion Syversen, MBANorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out our website that includes weekly streaming videosWWW.NorumbegaFinancial.com The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer. Email management, archiving & monitoring technology powered by Smarsh, Inc. Disclosure:Only securities and advisory services offered through Wall Street Financial Group, Inc. Registered Investment Advisor. Member FINRA/SIPC. Wall Street Financial Group, Inc. and Norumbega Financial are separate entities, independently owned and operated.

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Financial Independence!

Updated 1 year ago

All of us want o be free. But we’re not free if our money controls us because we don’t control it with wisdom. Here are some steps to take to be financially free. Have a budget- If you’ve know a child who didn’t need many rules because they were already compliant, then you have seen our first idea put into practice. Self-control goes a long way in being free. In finance that means have a budget. You may not LIKE where all your money goes. But at least you will KNOW where it goes and that makes you the boss of it. Stop spending – At least stop spending out of a sense of entitlement or other emotions. If your emotions dictate actions that are not in keeping with your plan, you are only a slave to them. And last time I checked, no one thought a slave was free.Know yourself- You will have more success when you are free to recognize that YOU way of budgeting, your priorities and those of your family”, may differ from others. Make you budget, make your money method, reflect your money personality.Track you money- Having a budget is one thing. But it’s your money’s PLAN for where things will go. You’ll need to track your money to see if it indeed went where you hoped and planned it to go. Maybe there was an emergency or a time of weakness and things went awry. That leads us to the next two steps.Have an emergency fund- Either deposit a chunk of money to get this started and make regular contributions, or make tiny deposits when you’re able. But aim towards this goal as soon as you can because though you will not have enough saved for every emergency, you will make progress. And eventually, perhaps many years from now, but eventually, you will be cozy. When you fail – dust yourself off and get back on track. Citations:Marion Syversen, MBANorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out our website that includes weekly streaming videosWWW.NorumbegaFinancial.com The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer. Email management, archiving & monitoring technology powered by Smarsh, Inc. Disclosure:Only securities and advisory services offered through Wall Street Financial Group, Inc. Registered Investment Advisor. Member FINRA/SIPC. Wall Street Financial Group, Inc. and Norumbega Financial are separate entities, independently owned and operated.

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How Are You Doing on Your Resolutions?

Updated 1 year ago

In January we talked about a Fidelity survey and the top three financial resolutions. Halfway through the year I thought it would a good time to revisit them and see if maybe we need to do a little tweaking.Save more – Have you been able to add more to your retirement savings account? Do you have an account? Have you set one up? It’s not too late to get this resolution under way with determination. Meet with your HR person or whoever is responsible at work and up your contribution. You don’t have to pay for oil in the summer so add more for your future if that was your resolution. Spend less- Have you cut back on spending? Have you figured out ways to get great value with less spending? Are you employing more creative ways to entertain? Have you stopped using shopping as a hobby so that there is less temptation to spend? If not, it’s not too late to get on track if this was your resolution.Pay off debt – Have you made arrangements to increase credit card payments? Or, have you successfully paid off all debt? If not, do you have a schedule that shows when you will be free of debt? If one of your resolutions was to make such a plan, you can do that today. Don’t feel guilty. Act on what you said was important to you. If that is debt repayment, don’t add any new debt to your life and redouble your efforts to focus on your goals because it’s not speed but tenacity that wins the race.Citation:Marion Syversen, MBANorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out our website that includes weekly streaming videosWWW.NorumbegaFinancial.com Disclosure:Only securities and advisory services offered through Wall Street Financial Group, Inc. Registered Investment Advisor. Member FINRA/SIPC. Wall Street Financial Group, Inc., Norumbega Financial and all other entities listed herein are separate entities, independently owned and operated.

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Kids and Credit

Updated 1 year ago

When is too early to teach kids about manners or values? It’s never too early. You just need age-speciifc lessons. That’s what I think about financial education. It’s never too early but we need to give right-sized lessons to various aged kids. Let’s talk credit and kids.Cash- Kids have no idea where money comes from. Try to imagine you have lost your memory and think of the various transactions that go on in a day that involve cash. Kids don’t know how you got the money, but they see you spending throughout a day. As a child matures lessons of more depth about how our family got this money would be helpful. They think it ‘grows on trees’ because they don’t really know how it got in your wallet. There are books on money with characters such as The Berenstain Bears and even coloring books to help gradually get the money message into your children’s lives.Credit- Credit is borrowing money to have something now instead of waiting until you have the cash in hand. When your baby runs out of allowance and still wants something, credit is when they try to get next week’s money this week. Credit is what people use when they haven’t saved for a purchase. Saving is when we plan ahead for a purchase.Get real- Now, get real. Start explaining how you do things. The house and car may be on ‘credit’ in that you borrowed money to buy them. You may have saved for some of the purchase but not all. When I taught a class with middle school kids through Junior Acheivement on credit and ‘savvy shopping’ I began with what a credit card looks like, compared to a debit card, and the functions of each. Use play money to explain how money from your job goes into the bank. That fills your checking account and allows you to buy groceries or pay the cell phone bill with a DEBIT card.A credit card, that looks perhaps nearly identical to the debit card, is not tied to money that has already been earned and set aside for the purchase. How would they like to give up their allowance money for someone to borrow? To go without their money they’d want something in return. And that something is interest.Kids like learning grown-up subjects. Make it practical, real, and they will quickly understand the ins and outs of money.Citations: Marion Syversen, MBANorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out our website that includes weekly streaming videosWWW.NorumbegaFinancial.com The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer. Email management, archiving & monitoring technology powered by Smarsh, Inc. Disclosure:Only securities and advisory services offered through Wall Street Financial Group, Inc. Registered Investment Advisor. Member FINRA/SIPC. Wall Street Financial Group, Inc., Norumbega Financial and all other entities listed herein are separate entities, independently owned and operated.

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Making Plans for Retirement

Updated 1 year ago

Not all of us plan well for our retirements. Some of us save. But we don’t plan our LIVES in retirement. Identity- When we meet a kid we ask, so what grade are you in? We humans initially understand a new friend by what they do. When we retire our identify no longer comes easily from what we do. Psychologists have found that the more closely we identify with our work roles the harder the transition into retirement can be. Transition- Several years prior to your scheduled retirement give serious thought to your dreams of what your ideal life would ‘look’ like. Have you dreamt about helping kids, playing sports, enjoying your favorite hobby? Imagine what a typical day after retirement would include? The first few weeks or months may include sleeping or hanging out. But for many, work friends and being a a team working towards a united purpose was the fun part of their jobs. Your work friends are still working. We need to make some shape to some our days.Retirement work- Let’s say helping kids was a passion and that your dream job would be being with kids. Look for ways to fulfill your dreams as a volunteer. Can you imagine the joy of child care providers or schools in having someone available to assist them in a classroom with kids as a volunteer? Is it sports that you like? Are there leagues that you can be a part of now that you are available more often? Is community service of interest to you? Consider joining the many area service groups such as Kiwanis, Friends of the Library or the hospital auxiliary. Having a place to be, work to do – even though it is unpaid- and friends who share your passion will give structure to your retirement and interest and fullness to your life.We all know people who retired and then withered away because they were set adrift. Make a retirement plan that is more than just about income. Include your heart.Citation: difficulty in transition-Marion Syversen, MBANorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out our website that includes weekly streaming videosWWW.NorumbegaFinancial.com The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer. Email management, archiving & monitoring technology powered by Smarsh, Inc. Disclosure:Only securities and advisory services offered through Wall Street Financial Group, Inc. Registered Investment Advisor. Member FINRA/SIPC. Wall Street Financial Group, Inc. and Norumbega Financial are independently owned and operated.

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Financially Savvy Kids

Updated 1 year ago

Our kids. We hope that their lives will be free of trouble and pain. Especially, free of any trouble of their own making. If we neglect our kids financial education they may stumble. Let’s talk about ways we can help those honeys.Self-control – To save we learn how to wait, practicing self-control. How to delay gratification for some future promise is the point of self-control. With our money self-control is demonstrated in the ability to save. Not hoarding, but saving. All of us have tendencies to be savers or spenders. Meaning that we, as part of our natures, handle money more in one way than another. So for some of us delaying gratification might be more challenging than others. Helping kids understand WHY one might wait is a key point. The author of the 2009 WSJ article in which I read this, said he played ‘the soda game.’ The soda game is that Dad would offer his kids $1 or he would buy them soda or a soft drink when they’d eat out. The kids, a boy and girl ages 10 and 14 at the time preferred the $1 and drinking water to the soda. They’d spend Dad’s money from here to kingdom come preferring spending Dad’s cash to their own money every time. Perhaps you think this is manipulative. Instead it is a real-life example that makes spending money very real and personal.Risk- When we save, especially as we get older, we have the availability of investment options that may be risky or safer. Finding a balance that’s right for each person is a key job of a financial advisor. Helping kids understand various risk and the possible benefits of each risk will help them see possibilities.Values- Share your values with your kids. Share serving, generosity, charity and stories of hardship to teach your kids about money and to help them value their blessings. Bring them to a local shelter to serve food. Tell them the story of your car that was the Barney Rubble-mobile with rusted floorboards or the car with a gas can on the front seat because the gas tank on the car was rusted out. Your kids will have trouble in life because trouble is just part of life. But wouldn’t be awesome if they knew more about money than perhaps you knew when you were younger? Many of say we wish we’d learned, but most of us don’t teach our children. Get to it, parents. Citation Marion Syversen, MBANorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out our website that includes weekly streaming videosWWW.NorumbegaFinancial.com Disclosure:Only securities and advisory services offered through Wall Street Financial Group, Inc. Registered Investment Advisor. Member FINRA/SIPC. Wall Street Financial Group, Inc., Norumbega Financial and all other entities listed herein are separate entities, independently owned and operated.

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