This is a thrilling topic except when you need because a tragedy befalls your family. When that occurs, you are forever grateful or saddened by your planning. Dying ‘too soon’ is the concern of planner sna d the purpose of life insurance is to fill the gaps you want to fill.Purpose- The purpose of life insurance is to protect the way of life for the people who depend on you, relatives you support financially or emotionally who lives will be altered when you pass. Life insurance can be used to leave a legacy and to pay expenses left behind.How much for these situations? If you provide care for parents of other relatives, add up approximately how many years you’d want that funding to continue if something happened now. College for the kids if something happened to you? Mortgage and expenses. Your partner will miss a lot of work if something happens to you. The family is not going to all go to school and work on Monday as if everything is fine. It could take a while a year or two for things to get back to normal. Will your partner work less hours to fill in for the parenting no longer shared? Who will go to all the soccer games and school plays? How much full-time work will get done with single parenting and emotional loss in the lives of these wonderful folks? Will you send the kids to the least expensive childcare provider you can find? Types – Permanent insurance , which includes whole life and variable insurance, and term insurance. Term has a steady premium but is usually less than permanent insurance and covers a specific period in your life, such as 20-years or 30 years. It is often used to of kids being smaller and the possible higher expenses of college and child care. It tends to be significantly cheaper than permanent insurance. But permanent insurance is with you – so long as you pay premiums, all of your life. When the term is done when using term insurance, so is your coverage. Nationwide’s 4 reasons:
Ann Marie Orr from Ann Marie’s Kitchen joined Carolyn Callahan and Jared Plushnick on TV5 News at Noon with some recipes just in time for Easter.For more information, contact Ann Marie’s Kitchen at www.annmarieskitchen.com
Ann Marie Orr from Ann Marie’s Kitchen joined Carolyn Callahan and Jared Plushnick on TV5 News at Noon with some recipes just in time for Easter.Fruit PizzaIngredients:Sugar cookie doughÂ¼ cup flour8 oz cream cheeseÂ½ cup fruit yogurtFresh Fruit: Strawberries, blue berries, black berries, bananas, kiwiÂ½ cup Orange juice2 Tb corn starchAssembly:Roll out cookie dough—dust counter and top with flour to avoid sticking-roll into a pizza pie shape. Place on a greased cookie sheet or pizza pan. Bake according to package or recipe—Cool completelyBlend cream cheese and yogurt until smoothSpread on cooled cookie pie.Slice strawberries, bananas and kiwi—1/4 in thickArrange on top of cream cheese—-cover surface.In a small saucepan, on low heat, combine orange juice and cornstarch. Stir until cornstarch is dissolved and the juice begins to thicken. Brush on top of fruit. This will add a nice glaze and preserve the color of the fruit.Top with blueberries and blackberries. Enjoy!For more information, contact Ann Marie’s Kitchen at www.annmarieskitchen.com
Ann Marie Orr from Ann Marie’s Kitchen joined Carolyn Callahan and Jared Plushnick on TV5 News at Noon with some recipes just in time for Easter.French Toast Bake1-pound loaf French or Italian bread, cut into cubes (about 15 cups) 3 cups whole milk 1/2 cup packed light brown sugar 1 tablespoon vanilla extract1 1/2 teaspoons ground cinnamon 6 large eggs, lightly beaten The zest of an orangedot with butter Preheat the oven to 325 degrees F. Lightly grease a 13 by 9-inch baking dish. Place the bread in the baking dish. In a large bowl, whisk together the milk, eggs. Add the vanilla and the cinnamon to the beaten eggs. Pour the mixture evenly over the bread cubes the zest orange all over. Cover and let stand over night. Dot with butter and toss with berries. Bake for 1 hour, or until set: a knife inserted into the center of the pudding should come out clean. Serve with sour cream sauceFor more information, contact Ann Marie’s Kitchen at www.annmarieskitchen.com
Retirement savings- Â According to a 2010 poll 24% of parents plan on taking money from their retirement to pay for their childrenâ€™s college education. Advisorâ€™s wereâ€™ troubledâ€™ according to the article with one advisor saying, â€œYou can borrow for college. You canâ€™t borrow for retirement.â€ 529 plans- these are the Tax deferred plans for college savings. Money in the plans provide assets for ANY post-secondary educational entity be it trades such a welding or cooking school, two-year certificates of a four-year degree. They can aklso be used for graduate programs in any state. Each state offers their own plans and the benefits of using your stateâ€™s plan are costs for residents and / or tax benefits for contributions. But money from any 529 can be used at any school.Strategies- Donâ€™t wait if you plan on helping your kids. Start saving right away. If that opportunity has passed look at less expensive options for schools. Does the baby really need an Ivy league school? You may want them to dream big but whoâ€™s going to pay? Will you live with them in retirement? Choose less expensive schools for the first 2 years and then go on to another college.The thing with Ivy League schools â€“ and some others- is that they will not accept any transfer credits. They want your money. Have kids work towards their costs at and set aside some money as far ahead as possible to have some nest egg ready.I would urge you to do what you feel you have to do but please limit removing your retirement. Â Try to be practical and not too emotionally tornâ€¦Braintrack and the Gallop poll:Your text to link…College board:Your text to link…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.
Tax time often makes one think, how can I save some cottin’ pickin’ taxes? Well, retirement plans may save you some tax while saving and investing for your future. And that’s awesome!Plans for businesses can benefit the business entity and the individuals who contribute. Here’s how the most common plans work Because retirement plans are primarily overseen my the IRS because of the tax benefits it can be a confusing maze of information. So you need to speak with your financial advisor or tax preparer to determine what vehicle is best for you. SEP IRA – if you are self-employed, or a corporation with strong profits this might be a great vehicle for you. The money contributed is from the business and not from the individual, unlike a 401k you may have had at another job. When you work my yourself, that distinction may be complicated and confusing but SEP IRA allows up to potentially $49,000 to be contributed pre-tax. Definitely determine your particular situation, but with low administrative costs this is a viable retirement in the right situation.SIMPLE IRA- this plan is set up with the owners and an advisor usually using a single mutual fund company (or a family of funds) for all who wish to invest. SIMPLE plans allow employee contributions and mandate a corporate contribution. They are several options in setting these up but in my experience they are usually set up so that only participating employees get the match. But SIMPLE can be set up so that EVERYONE who is eligible gets a flat 2% corporate contribution regardless of employee participation. At the beginning of each year, the employer determines if they will contribute 2 % of each eligible employee’s earnings or if they will match participating employees’ contributions to 3% of the gross earnings of participating employees will be matched each year. There are details that you should check on before choosing this plan. But it, too, is an inexpensive plan to administer as each employee generally is responsible for their account costs and investment options. I work with my businesses and their employees to help them choose investments that work for their goals and objectives.401(k) + Solo 401(k)- 401k’s allow contributions for employers AND employees but have higher administrative costs. However, SOLO 401ks are not expensive and work better for the self-emploed or single-owner highly compensated business owner. Relatively cheap like SEP’s but may be a better fit depending on your needs.It doesn’t cost anything to ask your advisor about if one of these vehicles would work for you so you can save money on taxes and save for your retirement for a happier 2011 tax time!Marion R. Syversen, MBA – PresidentNorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com
Ployes1/2 cup Buckwheat flour1/4 cup all-purpose flour1/4 cup cake flour1 Tbsp. baking powder1 1/2 tsp. sugar3/4 tsp. salt1/2 cup cold water3/4 cup boiling water1) Preheat griddle.2) Mix the dry ingredients in a large bowl with a whisk until incorporated.3) Add the cold water and stir combining with the dry ingredients. Mixture will be very thick.4) All at once add the boiling water and stir with whisk until smooth. At this point the baking soda will react with the hot water and the mixture will foam up.5) Lightly oil hot pan. Pour batter onto pan creating 3â€ ployes. The batter will create bubbles on the surface. Do not turn ployes.6) Continue cooking until the bottoms are golden brown and the surfaces are dry.7) Remove ployes to a drying rack and keep warm.8) Cook remaining ployes.9) Serve with butter spread, maple syrup or jam.
1 package active dry yeast1/2 cup warm (110Â°) water 2 tsp. sugar2 cups lukewarm milk (divided)2 Tbsp. unsalted butter, melted3/4 cup buckwheat flour2 Tbsp. sugar1 cup all-purpose flour1 tsp. salt2 large eggsCrÃ¨me Fraiche1/2 lb. smoked salmon, thinly slicedFresh dill1) Combine yeast, water and sugar in a medium bowl. Set aside until the yeast has proofed and doubled, about 10 minutes.2) Meanwhile put the buckwheat flour along with the 2 Tbsp. sugar into a large bowl.3) When the yeast has finished proofing add 1 cup of milk and melted butter. Add this to the buckwheat mixture and whisk thoroughly until incorporated and smooth. Cover and allow to rest in a warm place until doubled, about 2 hours.4) When doubled, stir in remaining cup of milk, all-purpose flour, salt and eggs until smooth. 5) Allow batter to rest.6) Meanwhile preheat griddle.7) Lightly oil hot griddle. Pour batter onto pan creating 3â€ blini. Cook blini until golden on both sides. 8) Remove blini to a drying rack and keep warm.9) Cook remaining blini.10) Serve with a dollop of crÃ¨me fraiche, a piece of salmon and a sprig of dill.