During these difficult times, non-profit organizations are especially challenged. Fortunately, agile organizations and a motivated donor base have been able to, at least in part, step forward to help. The government has been helping with funding of its own in the form of direct support and by providing some expanded…
Gap years have always been an option considered by students leaving high school – and for a lot of reasons. 2020 marks a year when the list of reasons may be growing substantially. A sudden change in the number of high school graduates who are reluctant to jump into college…
For most people over 70, the annual Required Minimum Distribution from retirement plans and IRA accounts is a routine. In 2020, though, the vast majority of RMDs are suspended. Many retirees took their ordinary distributions before the economic crisis precipitated by the lockdown in March, and now it has become…
A video recording of Jim and Sam discussing the Q2 Commentary can be viewed HERE. MARKET REVIEW Stocks rebounded from a dismal March by posting their best monthly returns since 1987, as investors were encouraged by the expectation of additional government stimulus programs and hope that the economy would be…
If you’re a TIAA participant in the University of Maine system, whether an active employee or one who’s left because of a job change or retirement, you likely get a pretty heavy supply of mail from TIAA. Some of the mail that came in late 2019 and early 2020 might…
Penobscot Financial Advisors sponsored the University of Maine Alumni Association‘s 2020 Rising Star Award. Congratulations to Jennifer Desmond, class of 2014, for her numerous contributions to the University of Maine community. You can view the video of her award HERE and read more about it HERE.
‘Flattening the curve’ is sure to remain a major part of our lexicon long after the COVID-19 pandemic has passed. Curve flattening makes the assumption that simply eliminating the disease is impossible. As such, the next most important step is to slow the spread so as not to overwhelm the…
Social Security, in its current form, is in trouble. This should not be newsworthy to anyone who pays attention. When I first started in this industry during the last century, the Social Security Advisory Council warned that the Social Security Trust fund would run out of money in the 2030s,…
During times when going out to movies, concerts, restaurants, hair salons and sporting events is simply not in the cards, it is really likely that our spending will go down. Mine sure has. Despite the huge NEGATIVE impact on the global economy that comes with that, for those who are…
Student loans are a big part of the financial picture for a great many people. After the current pandemic started spreading in the US, it became clear that fighting the spread of this virus was going to come at a great economic cost, and one of the earliest steps taken…
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