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Keeping Your Money Afloat – Financial & Business Tools for Maine Fisherman

December 2, 2016 @ 8:00 am - 4:00 pm

| $59

fishing boatFull day of workshops with hearty lunch!

Get a better handle on your fishing business by lowering expenses, managing risk, tracking income and diversifying. Whether you are venturing into a fishing business, have been in the business for many years or are close to retirement, this workshop gives you all the tools you need to keep your money in your pockets.

Strategic Financial Planning

Presenter: Sam Davidson, CPA, Davidson Associates, Portland & Rockland, ME
This workshop will address how long-term financial planning helps to fulfill both your personal and business strategies and goals. We will discuss how to assess current and future financial status to predict future cash flow and asset values, as well as how to calculate net worth, determine tax structures and tax liabilities, asset allocation and future retirement and estate plans. These will be used along with estimates of asset growth to determine if your financial goals can be met in the future, or what steps need to be taken to ensure that they are.

Ensuring You’re Insured

Presenter: J. Edward Knight & Company
We all know the difficult stories that can come from being unprepared for an insurance emergency. Many of Maine’s fishermen live one accident away from losing their livelihood. In this workshop we will review various options available for your business and vessel, as well as how to choose a reliabel and adequate insurance representation. We will also address insurance options for your home, life insurance, disability and short-term injury insurance and health insurance options under the Affordable Care Act.

Banking Your Future

Presenter: Chad Place, VP, Camden National Bank
There is no harm in going back to the start. In this workshop we will start by reviewing how our overall banking system works. From there we will review the basics of banking, from determining where to open your accounts to current banking technology and online resources, as well as understanding interest rates, different types of loans, cash management, banking servicews, equity lines of credit, money market accounts and CDs, and credit and debit cards. We will also review what is required to secure bank and credit union loans and mortgages, the importance of separating business and perosnal banking acounts and transactions, and the available resources you can secure through your local banking community.

Real Retirement Readiness

Presenter: Allen Agency or Camden Financial
At some point, we would like to put our feet up and leave the work to someone else. In this workshop we will review retirement readiness, including the process of determining retirement income goals and the actions and decisions necessary to achieve those goals. Retirement planning includes identifying sources of income, estimating expenses, managing assets and implementing a savings program. We will address the importance of planning for retirement, calculating the amount of funds needed for retirement, where that money can and should come from, building retirement savings, tax implications and options, asset allocation and diversification, and how to catch up if you are already far along in your working life.

Ye Olde Estate Planning

Presenter: Lee Woodward, Jr., Esq.
Estate planning is a collection of preparation tasks that manage your assets in the event of incapitation or death. This presentation will include an overview of important estate planning tasks, including a will, limiting estate taxes, setting up trusts, establishing guardianship for dependents, naming an executor and beneficiaries and setting up a power of attorney.


December 2, 2016
8:00 am - 4:00 pm
Event Category:


Hutchinson Center
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Hutchinson Center
80 Belmont Ave
Belfast, ME 04915 United States
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