Listening to good advice
Like a lot of people, I have a little demon living in the back of my brain, a voice that incessantly tells me I should push myself away from the computer and take a 20-minute walk. I should bake a cake and introduce myself to new neighbors. I should finish filling out all the evaluation forms required by my HR director and bring personnel files up to date.
And I should put money into my 401(k).
That's why this issue struck a particularly raw nerve with me. We're introducing a new focus section — wealth management — and the first story I edited was Senior Writer Jim McCarthy's piece on wealth management services geared toward baby boomers, my demographic. So as I was editing, “Retirement uncertainties,” which starts on the cover, I wasn't just looking for dangling modifiers and subject/verb agreement. I was also trying to quash that irritating voice telling me, “See … you need to take this stuff seriously. You should get some retirement planning advice.”
Boomers aren't the only demographic wealth managers are targeting for services. Since the repeal of a key provision of the Defense of Marriage Act, some financial advisers are ramping up to serve couples in same-sex marriages. There's a roster of documents and designations that married gay couples can now take advantage of that will help ensure their financial stability. Staff Writer Lori Valigra lays out those new opportunities and speaks with some wealth planners who are reaching out to this new market in “Changing times,” starting on page 24.
We also have in this issue a focus section on Down East Maine, which we define as Washington and Hancock counties. Washington County, in particular, has the greatest economic challenges of any of Maine's 16 counties. It's why the Maine Heritage Policy Center has proposed launching its Free ME initiative in Washington County. That initiative would suspend sales and income taxes in a county until it has reached some measure of economic stability. Learn about the idea in a commentary submitted by MHPC's CEO J. Scott Moody, who is also an economist. The piece appears on page 21.
We also take you to a wreath-making operation in Columbia Falls, Wreaths Across America, a nonprofit that pays tribute to fallen veterans. It also represents a good chunk of business for Worcester Wreaths, which started the nonprofit six years ago. The story by Contributing Writer Craig Idelbrook, “Circle of life,” begins on page 18.
And we kick this issue off with an interview with Rick Wayne, CEO of Northeast Bank. A veteran financier, Rick and his team of investors have launched a new division in the bank that buys and manages discount commercial real estate loans. The division was ushered in after Rick and his team took management of the bank, which has roots that go back to 1872, in late 2010. So far, the loan acquisition effort has earned returns of roughly 16%. That should make you sit up and take notice. The story, “Found money,” starts on the cover.
If you'll forgive me for echoing that irritating voice … you should read it.
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