Business & Finance

Women Taking Control

Updated 1 year ago

I’m talking to a lot of women, particularly, who are having some trying to figure out our roles when grown children, with children, have trouble with money. Let’s chat, shall we?Make your own budget- Do you have a budget, be it general or very specific and down to the penny as to what you plan to spend and where your money is supposed to go? To use a metaphor, you cannot apply an emergency oxygen mask on your child unless you are properly cared for. So please make sure you have electricity and a place to sleep before giving help to your grown children.Manage debt- Please don’t add to YOUR dent for your precious children. I know they have kids, kids who are your precious grandbabies, and that you feel like if you don’t help all of them will be ruined, but I beg you. Please don’t add to your debt for the kids.Prioritize your retirement plan – Who will take care of you…? Do you really want to move in with your daughter or daughter-in-law and the kids at their house? Can I shake you? Please prioritize your retirement planning. You are worth it. You must take care of yourself first before you ‘apply the oxygen’ to the others. What would you tell your granddaughter? Should she be advised to give all of her money away to her children and grandchildren? How will they learn, grow? Who will help them? If your regular contribution is part of their budget, why should they ever learn…after all, you’ll buy the oil and the food always. You always do.The kids- so am I saying never help?! NO!!! I am not saying that! What I am saying is that these grown children and YOU, need to get a grip. There is a limited amount of money that we all have in our budgets. There are seasons’ of life where you need to help, of course you do! You would not be a very loving family if strangers had to help because you will not, no matter what your budget. But if all you do is help, you are part of the expected cash flow and you’d better stop that now. Have a talk with them. Tell them you will contune for a month or whatever period seems good to you. Be strong. Get the kids some budgeting advice and then they’ll need to not buy so many iPads and so much eating out. Just like the rest of us….Be strong, pookie.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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Lemonade Stand Learning

Updated 1 year ago

Frequently a kid’s first business is opening a lemonade stand. That concept is being used to more formally – but still in a fun way – to teach kids about business.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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Mind Your Biz

Updated 1 year ago

There are all kinds of events scheduled this spring to celebrate and help advance small business in Maine.In “Mind Your Business” Deb Neuman talks about it.Upcoming business events:March 28 – Business Day at the Statehouse – AugustaMaine State Chamber – www.mainechamber.org April 5 – Family Business Forum – Husson Universty, BangorInstitute for Family Owned Business – www.fambusiness.org May 3 – Selling to the State of Maine – Augusta ArmoryProcurement Technical Assistance Center – www.maineptac.org May 18 – Maine Downtown Conference – FarmingtonMaine Development Foundation – www.mdf.org May 24 – Maine International Trade Day – Samoset Resort, RockportMaine International Trade Center – www.mitc.com

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A Look at Retirement Plans

Updated 1 year ago

The older you get the more you’ve learned. And as you look back on life, you may realize some things help you do better achieving your goals, and other things don’t help. Having a retirement plan at work helps. Fidelity did a survey on retirement savings and work plans, and here’s what they found. I wouldn’t be saving without a work plan – 55% of those surveyed said they wouldn’t be saving any money fort their retirement at all if it were not for the plan they have at work. A retirement plan for a any business can be a low-cost benefit. For those of you with no plan at work, encouraging your employer to begin a retirement plan could really benefit you. Company match- helpful- Retirement plans allow employers to contribute. This contribution is called a match and the rules vary, so I won’t hurt your brain with all the details. But Fidelity found that having a match prompted 53% increased their own contribution either because of a raise or from a desire to take better advantage of the company match.Borrowing- not helpful – Some retirement plans allow one to borrow from their retirement money. The survey also found that of those who borrowed, 29% said it was a mistake that they wish they hadn’t made. They would not do borrow again.Got a business? There are many retirement plans one of which may be a great fit for your firm. Do you have a plan at your workplace? Take advantage of it! And learn from the mistakes of others, my friends.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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Ways to Improve Your Credit Score

Updated 1 year ago

How can you improve your credit score? The exact formula used in a FICO score (Fair Isaac Company, the company that computes credit scores) is a proprietary secret, just like the Colonel’s secret recipe for chicken. But experts say focus on these five areas.Payment history – 35% of your score is made up of your credit history. Do you pay your bills on time? A lender wants their money BACK, so your repayment history is, naturally, very important to lenders. Pay, at least your minimum, payment on time.Amount owed- 30% of your FICO score is based on the total amount of debt owed. Less is good. Since these are lenders who think debt is good, your score may be higher WITH debt than without debt. Debt owed that Is lower than your credit limit provides a better score.Length of credit history- 15% of your score comes from the length of time you have had credit or a particular account. As far as FICO is concerned, the longer the history, the better.New credit- 10% of your score is based on new accounts. Inquiries made into your credit report within a 14 to 45-day window count as one.Types of credit- 10% of your score is based on the type of credit. Non-secured, revolving credit (i.e., from department stores) or credit card debt is not as advantageous to your score as installment loans.You are not living your financial life to maximize your credit score. Just aim to live with financial prudence.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. Norumbega Financial and all other entities listed herein are separate entities, independently owned and operated.

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Who Needs Luck When You Have a Plan?

Updated 1 year ago

Kiss me, I’m half Irish. But none of us, Irish heritage or not, need a leprechaun, nor do we depend on some lucky event for our future, to be at least frugally okay. Why? Because we have a plan! Here are the parts required for any kind of plan management.1- Goal2- Organize3- DO it4- Monitor, monitor, monitor Goal- Our first job is to determine the goal. In our case we are making financial goals. The goals can be both long-term and short-term goals, retirement planning financial goals as well as summer fun savings goals. Discuss this with your honey and make them concrete. Organize- Your goal will not get funded without effort on your part and that is step two. Set up accounts and arrange deposits to fund your goals. DO it- Now you have to begin to fund the accounts. The more automatic you make the actions, the more certain will be your eventual outcome. So if possible, have a system that will work without your additional effort to process your money into the accounts that are funding your goals. Even if it’s less than you’d hoped to deposit, you are making progress! And how awesome is that?Monitor, monitor, monitor – Don’t let years go by before you check on your progress. Know what’s happening wih some regularity. It needed be every week or month. Depening on the goal and the length of time needed to reach it, make some time on the calendar when you think it would be reasonable to monitor your progress. There will be bumps in the road and these may make evaluation occur before you planned. But life is predictably unpredictable. Expect bumps.You’ll get there. You’re doing an awesome job. 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.

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Evaluating Your Money Path

Updated 1 year ago

No amount of money can buy back your past and no amount of emotion and regret can fix anything. Here we are. What now?Where am I? – Look around. Where are you on your money path? Do you argue about money with the person you love? Are you on track for a good future? Do you make a good living but have little to show for it? Are you generally on the path but slipping into the ditch? There is NO JUDGEMENT in evaluation. Be as factual and unemotional about this as you can be so you can get a truer sense of what’s really happening. Speak to yourself as you would someone you LIKE.Evaluate your past/present – In the same kind and non-judgemental way, evaluate past and present actions that may have helped, or hindered, your progress on the good path you have mapped out. Do you spend to feel better? Do you gamble or take a lot of risks? Can you financially sustain this direction? Are you contend with your actions and feeling confident, or at least at peace, with your behavior?X marks the future- Like a pirate seeking the treasure, aim with purpose towards your destination! Reality may compel you to adjust what future you had previously mapped. That’s how life works, kids. The future isn’t something ANYONE knows with certainty. It is always speculation. So realistically adjust as needed.Do the work- Now get a move on. If you were physically walking on a path you would get blisters, need new sneakers, get tired, hungry and thirsty. Proceeding on your money path will take work, too.Please remember, you will make the best progress if you are kindly realistic with yourself in your evaluation and planning. 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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Vacation on a Budget

Updated 1 year ago

I don’t love travel, so destination vacation planning is not an area of expertise. But I am frugal. Planning is a key to saving money. Plan your budget- If traveling is important to you, you’ve got to plan your budget. You won’t be able to travel frequently if you don’t save ahead, be diligent while away to track your spending and communicate with each other so you can creatively eat. Lodge and play.Prioritize- What’s the most important part of the vacation? Sun, food, touring the sites, or specific activities such as riding horses, archeology, hiking, shopping or golf? Make your budget with the priorities in mind.Who do you know? – If you are planning on visiting a city and you have friends in the area, perhaps they can give you some idea of good places to stay and eat that are a great buy.Six months ahead- One travel site suggested that for great rentals plan six-months ahead. Those of you who travel regularly know the importance of planning better than I. Deals- we all hear about folks who didn’t plan or who purposely waited till the last minute and were able to get GREAT deals because of last minute bargains.Web/Blogs- start early to read what others are doing, where they are staying and how they are saving money. If you have kids, find other parents who have traveled to your destination or who simply have great ideas for amusing kids of all ages.Citation:http://www.beachbumparadise.com/book-summer-vacation-in-winter/Marion R. Syversen, MBA – PresidentNorumbegaFinancial207.862.2952Marion@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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Couples and Money

Updated 1 year ago

One of you may be very committed to handling money and the other is less engaged, less connected. How do successful couples talk about money?Understand what’s going in the family finances. How much is being saved and how much has accumulated in the savings and investment accounts?Participate- Actively engage in the discussion. Pay attention, ask questions, give your opinion. IT COUNTS and IT MATTERS so please SHARE it!Objectives- If you are now participating make sure you agree with the goals that have been established. Communication is an imperfect medium. Even when you think you’ve been understood, we have biases that inadvertently influence our hearing. And on the topic of finance it’s an already complicated subject. So patiently make your thoughts and views part of the future plan.Learning- keep learning. New studies on how couples work even better together with their money, learn about interests that you have in finance of about money, get books or activities for your kids and learn as they learn.Paper- where’s the important paper kept? Where is account information, accountant, advisor, attorney contact information? Stay active and engaged in the process of your money!Citation:https://guidance.fidelity.com/viewpoints/retirement-questions-for-couplesMarion R. Syversen, MBA – PresidentNorumbegaFinancial207.862.2952Marion@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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Women, Retirement and the Extra-Long Life

Updated 1 year ago

Women. We are wonderful and clever, and beautiful, and we are balancer of many ‘plates.’ As women we face unique challenges in our money and retirement: we live long, we spend a bit of our aging single, we frequently have lower retirement incomes and we also have responsibilities of caring for others. MetLife conducted a study and they called it, “Women, Retirement and the Extra-Long Life.’ The study examined what 50-70 year-old women are thinking and doing about their finances for retirement. This study may not directly show exactly how YOU think, but it generally shows what women may think. And generally women don’t know where to start when it comes to calculating what we will need for retirement. Neither the income we will need , nor the expenses we might expect. Because of this confusion and lack of more concrete calculation, we tend not have enough saved and then to have to postpone retirement because we don’t have enough money. Another issues unique to women, we live longer IN retirement. It means our savings have to last longer.Women views need to get a good understanding of what they will need and even want for income in retirement and have concrete plans – as far as it lies with you- to achieve those goals.One way suggested in the study: Women do much better when we work as a team with either a partner or an advisor. If you are, like many women, concerned about your money, do something, COMMUNICATE- talk with someone, someone with whom you are COMPATIBLE, and develop a plan. The result will be CONFIDENCE in your future. You will feel SO much better!Citations: http://www.metlife.com/mmi/research/women-retirement-extra-long-life.html#findingsMarion R. Syversen, MBA – PresidentNorumbegaFinancial207.862.2952Marion@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. Information is for educational purposes only and is not a solicitation or an offer to buy any security or instrument or to participate in any trading strategy.

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A Website that May Help You Grow Your Savings

Updated 1 year ago

I recently read about a SUBSCRIPTION service that uses ‘proprietary analytics and behavioral research’ to help folks grow their savings.There are services recently popping up that are using unique software to provide online assitence to you about your money. They are meant to help you learn about your money without being able to give YOU your own unique financial plan.Many of these programs rely on income for their own businesses from advertizers. Large banks and other institutions who cross sell their products, be it mortgages, credit cards, cd’s, etc., to the folks using the free site.HelloWallet is slightly different in that it charges an monthly subscription fee of $8.95 a month is a means to connect you and your money in the every day of spending and budgeting. HelloWallet focuses on cash flow For those in the audience who have this financial segment under control, you might consider this kind of tool for the college students and twenty-somethings in your life who won’t necessarily listen to your sage and learned advice. The system attempts to one professional magazine, ‘encourage savings’ and has an iPhone app with an Android version coming out soon.The things that make it a help to folks is that is creates a picture of what your savings will be in ten years, for instance, if you keep on this track. If you save $100 a month at age thirty and think you’ll retire a millionaire at 55, this gently taking you though method will make the reality graphic. The categories covered for subscribers are tools to help you be knowledgable about increasing savings, a get out debt tool and “individual advice’ on the state of your net worth. If you, or someone you love, wants to feel more engaged with their money this tool might help.HelloWallet.comMarion R. Syversen, MBA – PresidentNorumbegaFinancial207.862.2952Marion@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. 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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Finance is Fun: Maximizing Retirement Income

Updated 1 year ago

In this week’s “Finance is Fun” Marion Syversen joined Carolyn Callahan on TV5 News at Noon to talk about maximizing your retirement income.Start - start as early as possible. Compound interest works to our advantage the earlier we begin to save. So the earlier that retirement savings can begin, the better. Small amounts contributed early can really make a BIG impact on your futue. But if you didn’t start early, please START!Lumps of cash- When you have cash flow bonanzas, add the money to the retirement pot. Chunks of money help build up the retirement savings more quickly. So when you can squeeze money out of places, please DO.Choose the right account- The Motley Fool writes that there are eleven different types of IRA. Choose the account type that is right for your needs. If you need help, speak with a professional.Free money- If you have access to matching funds through a retirement plan at work or for your business, maximize your contributions to get those funds. You don’t usuallyqualify for the money unless you participate in the plan, so please participate.Think streams- Most people have several sources of eventual retirement income, from rental property to Social Security to pensions to annuities and IRAs. Develop a view that plans for those streams. Put your thinking cap on and plan your delicious future.Don’t give up- This is not a straight shot to done. There are many stumbling blocks along the way. Many. So, keep on keeping on and please don’t give up. Citations:Article- http://www.wthr.com/story/15588350/how-to-maximize-your-retirement-incomeIRAs- http://www.fool.com/money/allaboutiras/allaboutiras02.htmDisclosure: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. Information is for educational purposes only and is not a solicitation or an offer to buy any security or instrument or to participate in any trading strategy.

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What Investors Want

Updated 1 year ago

Performance- Performance is key to most investors. To men, it is the most important criteria in judging an advisor( 56% of men say this is what matters most and 84% of men with over $5million in assets rank performance most critical.). More than 60% of women surveyed ranked relationship and investment performance as equally important. The great wealth the greater the importance of performance to an investor. With 69% of investors saying they would consider switching to another advisor for poor performance.Relationship- having a ‘rewarding’ relationship is important to investors. Many advisors believe that relationship is key,’ but as we just mentioned, performance is actually more key. Obviously, a good relationship is important as there will be no transparency of your goals and concerns without a strong relationship in which you are accepted but challenged, in charge but educated and in which your family concerns are respected. Information- My clients are looking to me to sift through economic and business data and given them my perspective on what I think is happening in the world of finance, nationally and globally. Then use this information with their goals and and other financial concerns to make decisions for their families.When you are choosing an advisor keep these traits in mind. Citation:http://www.fa-mag.com/component/content/article/79.html?issue=35&magazineid=1&itemid=27 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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Investing Tips in Volatile Markets

Updated 1 year ago

The last several years have been marked by volatility in the stock market and the value of your investments. One week up 700 point and the next week down 600. With all the movement, the Wall Street Journal reported that the Dow Jones ended up 5.5% and S & P was down .04% So what might you keep in mind if 2012 is similar? Your goals- investing, planning of any kind, all boils down to your goals, your dreams, your risk tolerance, your time horizon. There is no ONE rule for investing because it is an individual model made just for you. So, be clear on what you want to accomplish.The investments- Every investment has a risk, a purpose is a type of instrument. Does the investment match you and our needs? Is the investment a long-term retirement instrument when you are saving for a camp and will need the money in two years? Can the investment and it’s risk be quantified? Are there resources to learn more about it so you can feel a level of understanding about it? Allocation- In volatile markets diversification may be an option. Since there is no ONE answer for your needs this may be a good choice for you. You really need to know yourself to know the best choice for you. Discipline yourself- If your time horizon is long, once you are settled in the investment you think is best, try to stay your course for longer than the first sudden downturn. Keep your goals and vision in mind and stay disciplined. Everyone needs to follow these rules, even financial professionals, because we have feelings, too. Citations:Indicies: http://online.wsj.com/article/BT-CO-20120103-705666.htmlhttp://treasury.delaware.gov/services/Defined_Contributions/Knowledge/Investing_in_a_Volatile_Market.pdfMarion R. Syversen, MBA – PresidentNorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out our website that includes weekly streaming videosWWW.NorumbegaFinancial.com Vote Norumbega Financial for Bangor’s Best Financial Planning Firm at Market Surveys of America In compliance with requirements from FINRA, all e-mail sent via the WSFG domain will be subject to review and archiving by Wall Street Financial Group, Inc. 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. Norumbega Financial and all other companies listed herein are separate entities, independently owned and operated. Information herein is for educational purposes only and is not a solicitation or an offer to buy any security or instrument or to participate in any trading strategy.

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Top Financial Resolutions

Updated 1 year ago

New year brings resolutions to be better with our money. And here are some of the top resolutions Fidelity investments found in a recent survey.#1- Save more- 46% of respondents in a growing trend, according to Fidelity, are want to double their annual saving from last year’s goal of $1,200 to $2,400. Breaking that down that is $200 a month. Increasing how much they save is a top priority in the survey. Retirement saving is the savings priority of 62% of the respondents, whether through a work plan or their own IRA.#2 – Spend less. This remains a top resolution for those surveyed year after year.#3- Pay off debt jumped to third place on the priority list of resolution. Last year paying off debt was in the number 7 position but increased concerns of a unstable economy has folks ‘putting their financial houses in order,’ according to the survey. The previous #3 resolution was to make a budget.I want you to know what others are doing so you can see where you stand with peers. If you think that yours is the only family not as strong in financial savvy as your friends or neighbors, you could feel isolated and defeated. When what you need is the vision to make great changes for your financial health. Citations: Marion R. Syversen, MBA – PresidentNorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out our website that includes weekly streaming videosWWW.NorumbegaFinancial.com Vote Norumbega Financial for Bangor’s Best Financial Planning Firm at Market Surveys of America In compliance with requirements from FINRA, all e-mail sent via the WSFG domain will be subject to review and archiving by Wall Street Financial Group, Inc. 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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10 Resolutions to Make 2012 Even Better than 2011

Updated 1 year ago

Here are 10 resolutions to make 2012 even better than 2011.Get Your Credit Reports- Check all three reports at once from- www.ANNUALCREDIT REPORT.com or call 1.877.322.8228 or contact the separate agencies: Equifax, Experian and TransUnion.Check Beneficiaries and Update records- is your ex still listed as your beneficiary? Show the family where you keep the important papers. Check passwords and all bank, legal papers & investment accounts to ensure proper title and timeliness.Check your investments + Up your contributions – If you haven’t had a review with your advisor, at least review your investments. And then consider getting another advisor. If possible make a larger annual contribution for 2012. Make sure you are on the path to your retirement goal, as far as it lies with you.Tweak your budget – you DO have a budget…? Tell me you have a budget! Make sure things are as you planned and adjust accordingly for 2012 and expected goals and dreams. Learn from your mistakes- We are none of us perfect or doing all life as we hope to do. So where can you improve? What things need to be changed or adjusted. Take the time to MAKE the CHANGES.Talk about the family’s priorities with your peeps – Listen and discuss where you and the family hope to be as you plan 2012. You can’t control the future and these plans will change, but the New Year is an opportunity to refocus and fine-tune your financial life for an even more beautiful 2012.Happy New Year!Citations:http://www.mass.gov/ocabr/docs/advisories/time-to-review-your-credit-report.pdfMarion R. Syversen, MBA – PresidentNorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out our website that includes weekly streaming videosWWW.NorumbegaFinancial.com Vote Norumbega Financial for Bangor’s Best Financial Planning Firm at Market Surveys of America In compliance with requirements from FINRA, all e-mail sent via the WSFG domain will be subject to review and archiving by Wall Street Financial Group, Inc. 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 and all other companies listed herein are separate entities, independently owned and operated.

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Philanthropy

Updated 1 year ago

Philanthropy- is private contributions to humanity, vs. business or government contributions. It is according to Webster “an act or gift done for humanitarian purposes.Who?- Anyone can practice philanthropy. Frequently we use the word to mean giving by foundations or endowments. They give many thousands, even millions, of dollars to museums, schools, camperships, the hospital and other ‘non-profit’ organizations. But anytime you give. And according to one article, two-thirds of Americans gave in 2008. Why? – We give because we remember being in a tough spot ourselves and want to relieve the pain for others. We give to have a tax break. We give to feel a sense of satisfaction. These are some of the many reasons to give but there are still needs this Christmas and there is still time to give. Many organizations such as the Good Shephard Food pantry, Manna, and Penquis’ Christmas is for Kids need your help especially at this time of year. But there are other places that could also use your help.Make sure you do your research on the organization but make the season more lovely with your philanthropy. Citations:Marion R. Syversen, MBA – PresidentNorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out our website that includes weekly streaming videosWWW.NorumbegaFinancial.com Vote Norumbega Financial for Bangor’s Best Financial Planning Firm at Market Surveys of America 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 an all other companies listed herein are separate entities, independently owned and operated.

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Living on One Income

Updated 1 year ago

Living on one income is sometimes a choice we make so we can make our family a priority. Sometimes it is an option thrust upon us. In any case the best thing to do is reframe the situation to focus on the blessings of this time and things we can do.Unlimited budget- Everyone has to prioritize their spending, they just may have more vacations than you. We all have to decide what expenditure is critical to our life. Just like a healthy lifestyle, we all have to be aware of how we are balancingYou may be saving simply by being home- Since you are home you may not be paying for childcare, gas, or as new a car. You may be shopping for work clothes less, eating out less or buying more expensive, prepared food because someone is home. Those costs may be offset to some extent by the cost of heating the house all day now that someone is home.Prioritize – You need to prioritize your spending. Your finances boil down to money coming in and money going out. You need to prioritize what’s going out. See what expenses can be cut from the budget. Simplify other costs by good planning. If there was only one horse and buggy the family made the trip to town less often. Save money by making lists and running errands in batches. Make lists for shopping. Plan ahead for meals. These little changes cut out some of the fat of spending. Barter- can you trade or share with other families? Can one person snowplow for you and you share something from your garden with them? Think creatively and see all the positive things you do enjoy!Forget the Jones’- you won’t have the same lifestyle of those families with two incomes. Keep your eyes out of their business and remember your blessings. Count them out loud with the family if it will help you keep your eyes on more beneficial things!Remember, life is what it is. You either chose this lifestyle because of various reasosn, or it was thro=ust upon you. In any case, life is beautiful and you have another day to celebrate it today!Citations:Marion R. Syversen, MBA – PresidentNorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out our website that includes weekly streaming videosWWW.NorumbegaFinancial.com Vote Norumbega Financial for Bangor’s Best Financial Planning Firm at Market Surveys of America In compliance with requirements from FINRA, all e-mail sent via the WSFG domain will be subject to review and archiving by Wall Street Financial Group, Inc. 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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Unexpected Money

Updated 1 year ago

What to do with money that came in beyond your paycheck? Let’s talk! It could be a bonus, or an overpayment returned to you. Whatever it is, and depending on how much, here are some tips for you.How much- If the amount was small, for instance, less than $50, your options are less than if the amount is $5,000. You may have suspected that this money was coming and you may already have a plan, but it may be a silly plan. So I want to suggest a few options for you. Do the right thing- You know what that means: pay down or off, credit cards first. Why? Because that will make everyday life less stressful. You could also make a little emergency pile for a rainy day. I know this sounds like your grandmother talking, but that’s because peace of mind last a really long time and being financially cozy is peace of mind. It sounds boring but it’s still good for you.If it’s enough to do the first two things, perhaps you could do some planning for a cozy future, when unexpected money is less likely and when your income has stopped. Just a thought to make your future brighter. Have fun- with a bit of the funds, have fun. Whether modest fun or a blow-out- depending on how much unexpected money you received, have a celebration. Citation:http://www.consumerismcommentary.com/unexpected-income-windfall/ Marion R. Syversen, MBA – PresidentNorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out our website that includes weekly streaming videosWWW.NorumbegaFinancial.com Vote Norumbega Financial for Bangor’s Best Financial Planning Firm at Market Surveys of America In compliance with requirements from FINRA, all e-mail sent via the WSFG domain will be subject to review and archiving by Wall Street Financial Group, Inc. 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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FAQs about Financial Advisors

Updated 1 year ago

What’s a financial advisor(FA)? Anyone who helps folks with money is often mistakenly called a financial advisor. Actual financial advisors though are people who have passed a test to make them licensed professionals who can advice you on investments and aspects of money.What do FA do? FA can advise and manage an individual or business’ investments, brokerage accounts. They may make a written plan for you. Once licensed, each advisor has a business model that may differ from other advisors as they pursue their talents and interests in finance.Why should you work with an advisor? We’ve seen a lot of similar issues that you are managing and we focus on helping people with their plans, getting priorities squared away on retirement, college planning, paying off debt and other critical issues. Many of us are good at our job and offer real value. How much does it cost to work with a FA? It depends on the advisor. Some advisors charge to create a plan. Some advisors will speak with you generally about how you might proceed about a particular circumstance. Ultimately, there’s only so much pro bono work one can do because one needs to make a living. Money under management – which is when your investments are managed by the advisor has an annual fee. So, you might pay for a plan and an annual fee. It is different with each advisor so ask.How much do I need to work with an advisor? It depends on the advisor. Some have no minimum and others prefer to work with high-end clients only. Once again, you’ll need to ask.I’m frugal and I like to do things inexpensively. But I think experts are important and worth their fee. I work hard for my money and I need my money to work hard for me so I think having an expert is the frugal way to go as we are busy with life. Your money deserves to have someone whose focus in helping your money grow and working with you to get to your goal. Citation:http://www.financialadvisor.net/faq.htmlMarion R. Syversen, MBA – PresidentNorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out our website that includes weekly streaming videosWWW.NorumbegaFinancial.com Vote Norumbega Financial for Bangor’s Best Financial Planning Firm at Market Surveys of America 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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