Posts about Financial Goals

In your 30s, perhaps you purchased your first house or condo. When children came along, you found a larger place to live. As the years progressed, you managed to keep up with your family’s rising expenses.

But now, your son or daughter is ready to start college, and you’re not sure how you’ll come up with the money to pay for it. In situations like this, planning for retirement often takes a back seat to more immediate needs, with consequences down the road.

Bonds are a topic of long-standing fiscal debate for Maine residents.

When people talk about Maine’s economy, they typically cite the preponderance of bond issues we have voted for as evidence that we have a spending problem. In early 2013, all three major credit rating agencies downgraded Maine’s credit rating, which means that Maine may need to offer higher interest rates on future bond issues in order to attract investors.

Comprehensive financial planning and wealth management must take into account how local events affect your investment strategy and retirement planning.

If you’re a Maine resident or plan to retire here, our “Focus On Maine” blog series helps you understand the trends and issues that are shaping the financial future of Maine’s taxpayers.

If you commit to investing $5,000 per year for your retirement, would you rather end up with $505,000 or $1 million at age 65? It sounds like a no-brainer, but many people miss out on the full benefits of their retirement savings by not setting concrete, achievable financial goals.