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Making SMART Financial Goals for 2015

The new year is when many of us make resolutions to improve our finances and financial planning habits. Instead of telling you what you should do, we’re offering some advice on how you should do it: Make S.M.A.R.T. goals.
SMART financial goals help clarify expectations and improve chances of success.
Specific: Pick a specific area for improvement and enlist people to do the work. Is this you alone or are family members involved?
Measurable:  List indicators for success. How is success measured?  Do you need a spreadsheet or other tool?
Attainable: Set goals that are realistic and reasonable and can be achieved in a specific amount of time.
Relevant: Be realistic when setting goals. Choose goals that will make a difference for you.
Time-framed:  Set deadlines and keep to them.
 

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Supporting the Rockland Harbor YMCA

The Penobscot Bay YMCA has received a donation from Allen Insurance and Financial for the Rockland Harbor YMCA, a branch of the Penobscot Bay YMCA.

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From left: Dan Bookham, Director of Business Development at Allen Insurance and Financial and a Penobscot Bay YMCA Board Member, Michael Pierce, President of Allen Insurance and Financial, Troy Curtis, Penobscot Bay YMCA Executive Director and Leslie Eaton, Penobscot Bay YMCA Board President.


“We are very pleased to help the Y expand its reach,” said Michael Pierce, President of Allen Insurance and Financial. “We know our employees in Rockland are among the many people in the Rockland area who are happy to have access to the Y’s activities closer to where they live and work.”
The Rockland Harbor YMCA is scheduled to open in November and will have approximately 8,000 square feet of space in what was formerly occupied by Amalfi Restaurant at 12 Water St.  Services will include a state-of-the-art fitness center, indoor and outdoor exercise studios and a childcare center to serve families with infants through preschoolers (with space for 38 children). Popular programs such as Group Power, Group Active, Senior Strength, TRX, among others, will be offered.
In addition, more than 25 pieces of fitness equipment overlooking Rockland Harbor will be available for members to use at their convenience. While a Y membership or day fee will be required to use the facility, that same membership will provide an individual access to both the new Rockland Branch and the existing Rockport facility and all its offerings.
“The Penobscot Bay YMCA is excited about the opportunity to meet the needs of a growing business community that needs both quality child care options and a healthy workforce,” said Troy Curtis, the Y’s executive director.  “It is partnerships with companies like Allen Insurance and Financial that are making this exciting expansion possible.”
For more information contact the Y at 235.3375 or online at penbayymca.org.
 
 

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Investing in Community: P.A.W.S Animal Adoption Center

 Pictured here, from left, are Joelle Albury, P.A.W.S. Director of Development, Karen Reed, Allen Insurance and Financial and Amie Hutchison, P.A.W.S. Executive Director.

Pictured here, from left, are Joelle Albury, P.A.W.S. Director of Development, Karen Reed, Allen Insurance and Financial and Amie Hutchison, P.A.W.S. Executive Director.


Allen Insurance and Financial has made a donation in support of the P.A.W.S. Animal Adoption Center’s capital campaign for the organization’s new home on John Street in Camden.
“Allen Insurance and Financial is a longtime supporter of P.A.W.S.,” commented Amie Hutchison, Executive Director of P.A.W.S.  “We are grateful for their help with our Capital Campaign.”
P.A.W.S. Animal Adoption Center provides a safe, caring environment for homeless and abandoned dogs and cats until they can be placed with loving families. P.A.W.S. serves the towns of Camden, Rockport, Lincolnville, Belfast, Northport, Searsmont, Liberty, Islesboro and Swanville. For more information about P.A.W.S. and its Forever-Home Capital Campaign visit the center at 146 Camden Street in Rockport or www.pawsadoption.org.
Allen Insurance and Financial is an personal and business insurance, employee benefits, and financial services agency  with offices in Rockland, Camden, Belfast and Southwest Harbor. In 2014, the company is proudly celebrating 25 years of employee ownership.
 
 

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L.S. Robinson Co. Celebrates 20-Year Partnership with Concord Insurance

L.S. Robinson Co., our Southwest Harbor office, recently celebrated 20 years of partnership with Concord Insurance, including a dinner at the Claremont in Southwest Harbor.

L.S. Robinson Co. staff celebrates 20 years of partnership with Concord Insurance

From left: Ken Salvatore, Bonnie Lewis, Cindy Murphy, Holly Shields, Amanda Corson and Brad Bicknell.

 

Around the table, from left: Kathi Jones, Renee McKenna, Holly Shields, Amanda Corson, Jean Dutch, Bonnie Lewis, Wayne McLean, Concord Insurance; Brad Bicknell, Cindy Murphy, Michael Laliberte, Concord Insurance; John Goodwin, Conford Insurance and Ken Salvatore.

Around the table, from left: Kathi Jones, Renee McKenna, Holly Shields, Amanda Corson, Jean Dutch, Bonnie Lewis, Wayne McLean, Concord Insurance; Brad Bicknell, Cindy Murphy, Michael Laliberte, Concord Insurance; John Goodwin, Concord Insurance and Ken Salvatore.

 

From left: Brad Bicknell, L.S. Robinson Co., Wayne McLean, Senior Vice President and COO, Concord Insurance and Ken Salvatore, L.S. Robinson Co.

From left: Brad Bicknell, L.S. Robinson Co., Wayne McLean, Senior Vice President and COO, Concord Insurance and Ken Salvatore, L.S. Robinson Co.

Concord Insurance. 

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Partnering with Penobscot Bay YMCA on Capital Development Project in Rockland

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From left: Bailey Curtis, Bob Fernald, president and publisher, Down East Enterprise; Jim Butler, VP Operations Downeast Enterprise and Y Board member; Leslie Eaton, YMCA Board President; Andy Clement, Business Unit Manager, Fisher Engineering; Tyler Jones, Donations Committee, Fisher Engineering; Karen Reed, Business Insurance Specialist, Allen Insurance and Financial; Mike Dufour, Executive Vice President, Allen Insurance and Financial; Jeanne Rimm, Chief Financial Officer, SteelPro; Bill Leone, Y Board member; Barrett Brown, President, CedarWorks; Troy Curtis, YMCA Executive Director and Bryce Curtis.


Local businesses and individuals are joining the Penobscot Bay YMCA in its drive to bring programs and services to southern Knox County.
By donating to the Y’s $300,000 financial development campaign for a satellite facility in Rockland, these contributors are generating funds from an anonymous $100,000 matching opportunity.
Several local business people, mindful of the benefits the new program center will bring to the region have joined with YMCA board members and other volunteers in a Rockland Program Center Task Force to donate funds themselves and encourage others to do the same. Volunteers serving on the task force include Dan Bookham, Jim Butler, Andrew Clement, Jim Nelson, Bill Leone, Pen Bay Y Executive Director Troy Curtis, and Y Board President Leslie Eaton.
Eaton, a local business owner, commented on the importance of volunteer leadership:
“The Penobscot Bay YMCA and this community are fortunate to have individuals who are willing to volunteer their time to ask others to financially support projects, such as the new Rockland Program Center. Without their dedication and support, it would be difficult to move these projects forward.”
The planned program center at 12 Water Street will include a fitness center, indoor and outdoor exercise areas and a childcare center. Programs to be offered include day care for infants through preschoolers, after-school programming for school age children, and senior exercise offerings, along with the LIVESTRONG® at the YMCA wellness program for cancer survivors. The center is designed to make Y activities more accessible to Southern Knox County residents.
Clement, who is business unit manager at Fisher Engineering in Rockland, noted the importance of the Y’s child care. “The Pen Bay Y childcare program in will provide working families in Rockland an affordable option,” said Clement. “Everything from infant care to after-school programing will be available right in town.”
Allen Insurance and Financial President Michael Pierce, whose company was an early contributor to the campaign, emphasized the Pen Bay Y’s exceptional reputation with health and wellness programs. “The Y’s expansion into Southern Knox County should give many more people access to activities that promote a healthier lifestyle,” said Pierce.
Alvin Chase, co-owner of Eastern Tire, understands the value of community service. “The Pen Bay Y’s expansion into the Rockland area reinforces the organization’s desire to serve everyone in and around Knox County,” said Chase, explaining his company’s early support of this fundraising drive. “Current members of the Y will benefit from the newest location as well, since it will bring some programs and services closer to them.”
Down East Enterprise is another of the businesses to make an early commitment. Said President and CEO Bob Fernald, “The Pen Bay YMCA makes a difference in countless lives, and the Rockland Program Center will only add to that good work. We’re thrilled to be a part of the effort.”
To join the partnership program contact YMCA Executive Director Troy Curtis at 236-3375.

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Celebrating 25 Years of Employee Ownership

Allen Insurance and Financial recently held its annual Employee Stock Ownership Plan (ESOP) meeting and celebrated the company’s 25th year of employee ownership.
The company’s 70 employees gathered at Point Lookout in Northport, where they were joined by Steve Crane, former company president and Ann Montgomery, widow of David Montgomery, who established the ESOP in 1989.
The ESOP, David Montgomery wrote in a letter to employees at the end of 1988 just as the plan went into effect, allows employees to directly influence the growth in the value of the company and help create a second retirement fund, in addition to the agency’s 401K plan.
In an interview with the Camden Herald in 1989, Montgomery said: “The ESOP will be an incentive to employees, reduce turnover and encourage employees to suggest ways to improve productivity and continue to provide excellent service to our customers.”
That philosophy continues to work well for Allen Insurance and Financial, Michael Pierce, company president, told employees at their annual ESOP meeting.

From left: Mike Pierce, president, Allen Insurance and Financial; Ann Montgomery; Steve Crane, former company president and Mike Dufour, executive vice president, Allen Insurance and Financial.

From left: Mike Pierce, president, Allen Insurance and Financial; Ann Montgomery; Steve Crane, former company president and Mike Dufour, executive vice president, Allen Insurance and Financial.

Studies have shown that there is a direct correlation between being an ESOP company and increased instances of communication, information sharing and involvement in decision-making among employee-owners, according to the Washington, D.C.-based ESOP Association, of which Allen is a member.
“The strength of Allen Insurance and Financial continues to be the people who work here,” said Pierce. “As we celebrate this important milestone of 25 years of employee ownership, we also know that everyone here, no matter their position, really does have an opportunity to contribute to the leadership and success of our company. This is truly a unique opportunity – for both our employees and the customers we serve.”
Allen Insurance and Financial traces its roots in Camden to 1866 when it was founded by Wilder W. Perry, a prominent Camden businessman. George E. Allen bought the company and changed its name to Allen Insurance Agency in 1902. Hugh Montgomery bought the company from George Allen’s son Hervey C. Allen in 1935; David Montgomery took over in 1954 after his father died. The ESOP was a way to keep the company ‘in the family,’ as David considered retirement.
In 1989, the company employed 22 people in offices in Rockland and Camden. Today, 70 employees work in offices in Rockland, Camden, Belfast and Southwest Harbor, where the company operates as L.S. Robinson Co.
There are 23 employee-owned companies in Maine who are members of the national ESOP Association. Of those, Allen’s employee ownership (1989) is second in duration only to Cianbro of Pittsfield (1979).
Allen Insurance and Financial is an independent insurance and financial services agency serving families and businesses in Maine, the U.S. and around the world.

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Your Health Care Wishes: The Documents You Need, When You Need Them

What kind of medical care would you want if you were too ill or hurt to express your wishes? Advance directives are legal documents that allow you to spell out your decisions about end-of-life care ahead of time. They give you a way to tell your wishes to family, friends, and health care professionals and to avoid confusion later on.
A living will tells which treatments you want if you are dying or permanently unconscious. You can accept or refuse medical care. You might want to include instructions on

  • The use of dialysis and breathing machines
  • If you want to be resuscitated if your breathing or heartbeat stops
  • Tube feeding
  • Organ or tissue donation

A durable power of attorney for health care is a document that names your health care proxy. Your proxy is someone you trust to make health decisions for you if you are unable to do so. (source: NIH: National Cancer Institute)
The New York Times reports about a new app from the American Bar Association that allows you to keep copies of these important documents readily accessible.  Read the article about the app called My Health Care Wishes. 

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HealthCare.gov Resets All Consumers' Passwords

The Internet security weakness called Heartbleed has prompted HealthCare.gov to reset every consumer’s password on the health insurance exchange website.
According to a Health Insurance Marketplace email sent Wednesday, April 23:

“HealthCare.gov uses many layers of protections to secure your information and we’ve recently enhanced our systems to add additional protections. While there’s no indication that the Heartbleed vulnerability has been used against HealthCare.gov or that any personal information has ever been at risk, we have reset consumers’ passwords out of abundance of caution.

“This means the next time you visit the website, you’ll need to create a new password. We strongly recommend you create a unique password – not one that you’ve already used on other websites.

How to reset your password

  1. Use the online Forgot Password feature
  2. Enter your username and click “Send email”
  3. Wait for the “Forgot Marketplace Password” email we’ll send you to create a new password for your account

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Nationwide Poll: Most Young Renters Uninsured

Although data from the U.S. Census Bureau shows that more adults ages 24 to 34 are renting than ever before, increasing by more than a million from 2006 to 2011, most millennials do not have renters’ insurance.
According to a recent survey conducted by Nationwide Insurance, despite renting in unprecedented numbers, 56% of millennials do not have renters’ insurance, and 75% are unaware that they can get monthly coverage at a relatively low cost, reports propertycasualty360.com.
Renter’s insurance can cost as little as $20 per month — an amount less than or equal to what many people spend on coffee or online music purchases. 
Survey respondents — more than 1,000 renters ages 23 to 35 — said it would cost an estimated $5,000 to replace their belongings in the event of a catastrophe, but 40% do not see renters’ insurance as a necessity, reports propertycasualty360.com.
Call your local insurance professional today to learn more.
Renters’ Insurance on our website. 

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Maine Employee-Owned Companies Gather in Gorham

On Friday, April 11, representatives from 17 of the 23 employee-owned companies in Maine attended a fundraising event in Gorham for U.S. Sen Susan Collins. Hosted by Moody’s Collision Center, the event featured remarks by both the senator and by Michael Keeling, executive director of the national ESOP Association in Washington, D.C.
Representing our company were Mike Pierce, Mike Dufour, Dan Bookham and Jill Lang. Other companies in attendance were: Spinnaker Trust, SteelPro, Johnny’s Seeds, Maine Manufacturers, Lanco Systems, Clark Insurance, J-S Oil, Sebago Technics, Moody’s Collision Center, Howell Laboratories, Cianbro, Sargent Corp., AMI Electronics, System Engineering, Woodex Bearing Company and Portland Air Freight.
This was the first time in many people’s memories that so many Maine employee-owned companies gathered in one place. Many agreed it should not be the last.
In 2014, Allen Insurance and Financial is celebrating 25 years of employee ownership.

U.S. Sen Susan Collins and four from Allen Insurance and Financial

From left: Dan Bookham, Mike Dufour, U.S. Sen. Susan Collins, Mike Pierce and Jill Lang.