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.
2 cups all-purpose flour2 Tbsp. sugar3/4 tsp. salt2 1/2 cups whole milk1/2 cup unsalted butter, melted4 large eggs
8 oz. cream cheese, softened8 oz. ricotta cheese1/4 cup + 2 Tbsp. sugar1/2 tsp. salt1/2 tsp. vanilla extract1 large egg
The Easter Bunny is coming to town soon, but with those baskets full of candy might come some extra weight. Jackie Conn from Weight Watchers is here to remind us there are tasty, figure flattering treats.Quick and Easy (reduced calorie) CheesecakeIngredients1 3/4 cups graham cracker crumbs 1/2 cup butter 1/2 tsp. ground cinnamon 1 (6 oz.) pkg. sugar free lemon flavored gelatin 1 cup boiling water 1 (8 oz.) pkg. reduced fat cream cheese 2 tsp. vanilla extract 1 cup frozen light whipped topping, thawed Methods/stepsPreheat oven to 350 degrees. In a medium bowl, combine graham cracker crumbs, butter and cinnamon. Mix well and press into the bottom of a 9 in. square pan. Bake in preheated oven for 8 to 10 minutes. Remove from oven and allow cooling. Dissolve lemon gelatin in boiling water. Let cool until thickened, but not set. In a large bowl, beat cream cheese and vanilla until smooth. Blend in lemon gelatin. Fold in whipped topping. Pour filling into crust. Sprinkle top with graham cracker crumbs. Refrigerate over night. Makes 9 servings, 210 calories per serving (Some cheesecake recipes have more than 1000 calories in a single serving!)
If you have an idea for our next Take This Job and Love It, email Chelsey: email@example.com————–Spring is finally here, and for many warmer weather means spring cleaning and maintenance for their cars. Chelsey Anderson drove to Waterville for this month’s Take This Job and Love It.Chelsey: “The folks at Central Maine Motors were more than happy to take me on in their maintenance crew, because they’re always busy, and, hey, an extra set of hands always helps. Well, that’s what they say at least.”—————-Mark, Central Maine Motors: “That’s an A typical 5,000 mile service that we do a lot of. You bring it in, change the oil and filter, check all your fluids and we top off any fluid that’s low. Rotate your tires, check and clean and adjust your brakes if necessary.”At Central Maine Motors in Waterville a two person team takes care of this in about 30-minutes. So, Chewie and RJ were already changing the oil and filter, and checking all the fluids and the tire pressure when I stepped in just in time to help rotate the tires.Chewie, Central Maine Motors: “They’re heavy. You might not want to.” Chelsey: “Well I can give it a try.”Chelsey: “Okay, so I’ll try and put this one up.” Chewie: “Okay.” Chelsey: “Is there something I should know.” Chewie:”The easiest way to do it is to put it up on your legs like this and pull it up.” Chelsey: “Oh my gosh! Okay.” Chewie: “And set it on those two bolts.”Chewie: “So just reach down and grab her right about there.” Chelsey: “Okay.” (grunting) Chewie: “Or not.” Chelsey: “My shirt’s strangling me. Okay, just a second.”Chewie checked the depth for the amount of brake pad left while I adjusted, and gave it another go.Chelsey: “But I’m so close.”I got the tire set and bolted it onto the wheel.That whole process took me several minutes. The guys showed me how they did it while I timed them.Chelsey: “They’re done. Not even a minute. And they were lolly gagging.”Tightening the bolts still took me longer than the guys.Chelsey: “Does it fit a certain way? Oh no.”Thankfully the tires were finished and all I had left was filling the oil and vacuuming the front floorboard.Chewie: “Okay, grab that.” Chelsey: “Grab what, this?” Chewie: “Yep.” (laughter) “No really, grab it.” (laughter)Chelsey: “Is it going to overfill?” Chewie: “No, because you’re going to stop it when it says 8 quarts.”Once I met my mark I check the dipstick.Chelsey: “Okay. Done?” Chewie: “Yep, shut it.” Chelsey: “Tah-dah!”After vacuuming the floor boards and it evaluation time. But honestly, I had my doubts about getting this job. Not only was it difficult, but I started out on the wrong foot. I’m sure you’ve noticed by now, how my shirt was buttoned. Not my proudest moment. Regardless, did I get the job?Chewie: “Probably not.” Chelsey: “Why not?” Chewie: “Because the tires are too big.” Chelsey: “I do agree. Those were really heavy.” Chewie: “And those aren’t the biggest.”————–Chelsey: “Chewie suggested I keep practicing, but I think I’ll leave this work up to the professionals. Thank you to Central Maine Motors for all their help. If you have an idea for our next Take This Job and Love It, email me: firstname.lastname@example.org”
Since I am not a tax advisor but it is tax time and out segment is called Finance is FUN! let’s have some fun with taxes!There is a web site called Fun with Taxes. It surprised me, too.Weird tax facts: (from an article entitled 50 Fun facts about Taxes)There are states that charge taxes for the sale of illegal drugs.Czar Peter the Great taxed beards.In the UK everyone under 75 pays a TV license fee- more for a color TV and less for b + wThe Civil War was the beginning of an income tax in the USThe easiest tax form- according to author Jim Ward, 1040EZ has 33 pages of instructionsâ€¦The first electronic filing of tax form was Jan. 24th 1986 All Royal Navy ships must pay a ‘barrel of rum’ tax to the Constable of the Tower of Londonâ€¦Citations:http://www.funwithtaxes.com/50 factshttp://www.bargaineering.com/articles/50-fun-facts-about-taxes.htmlMarion R. Syversen, MBA – PresidentNorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com
Administrators 60% (533 votes)After School Programs 8% (73 votes)Athletics 9% (85 votes)Custodial 2% (15 votes)Teachers 21% (188 votes)