J.M. Arbour's President, Jac Arbour writes a column for a few local newspapers. Here is the article for the week of September 23rd, 2019

THE MONEY MINUTE: Attention Retirees: How Much Are You Paying for Investment Advice?



J.M. Arbour's President, Jac Arbour writes a column for a few local newspapers. Here is the article for the week of September 4th, 2019

THE MONEY MINUTE: Attention Retirees! Will you Outlive your Money?



J.M. Arbour's President, Jac Arbour writes a column for a few local newspapers. Here is the article for the week of August 5th, 2019

THE MONEY MINUTE: Lions, Tigers and Bull Markets, Oh My!



J.M. Arbour's President, Jac Arbour writes a column for a few local newspapers. Here is the article for the week of July 15th, 2019

THE MONEY MINUTE: The New American Dream



Start Your 401(k) When You’re Young

Which would you rather have … a million dollars today or the result of one penny doubling every day for the next thirty days? If you chose the penny, good for you! It would be worth about $1.3M on the 28th day and $5,368.709.12 on the 30th day.

In my opinion, there is no factor that has a more profound effect on the value of money than time.Compound interest was once said to be the eighth wonder of the world and when considering the previous example, you might agree.

As an advisor in the 401(k) space, I hear many different reasons about why people choose to participate or not participate in their employer’s plan. With younger people, it is always a goal to have them understand the power of time and compound interest. It doesn’t take a lot of money from one’s paycheck each week (even $10/week can make a difference) to build something significant for down the road.

Whether you end up with $100,000 or $5,000,000 at retirement, you’ll be glad you did it and you’ll be even happier if you start early.

See you next month!

Jac Arbour, CFP®, ChFC®
President - J.M. Arbour Wealth Management


What Goes In, Must Come Out
We’ve all heard that “what goes up, must come down.” How about “what goes in, must come out”? If you or someone you know owns an IRA, 401(k), 403(b), Thrift Savings Plan, or some other retirement vehicle, please consider the following.
We contribute money to our retirement accounts in hopes that one day we will be able to retire in comfort. However, this is not the only reason that people contribute to their plans: many Americans contribute in order to reduce their taxes. Monies contributed to these plans are typically not taxed in the calendar year during which they were contributed. It sounds great up front, but is it really possible you can defer taxes on these monies forever?
You guessed it: the answer is no. By the time you reach age 70½, you must begin withdrawing what is known as a Required Minimum Distribution (RMD), which is subject to both Federal and State taxes. For many people, RMDs raise a plethora of questions due to all the rules that surround them.
It is important to note the following regarding RMDs: If you miss taking your RMD or take the incorrect amount, you may be assessed a penalty by the IRS of up to 50% of the RMD amount that you did not take, even if it was an accidental oversight. Federal and state taxes still apply in these situations as well. As you can imagine, all of this can add up quickly, so RMDs are not something you want to miss.
If you have questions about RMDs, contact an advisor today and make sure you have a plan that acknowledges both when and how best to utilize these monies. 

Jac M. Arbour, CFP®, ChFC®


My grandfather worked in the Augusta paper mill for thirty-five years, often times working seven days a week. He, like many other Americans, put in his time. In return, he retired with a healthy pension. Every month, a check shows up in his mailbox, just like clockwork. Do you think he notices the financial security this check brings? He sure does!

Let's talk about pensions for a moment. Where are they now and in which direction are they going? For the most part, they are taking a vacation ... and I think it will be a long one.

Most people I meet with today from the private sector will not have a pension in retirement. This leaves many people concerned about whether or not they will have enough money to live on each month.

Although your current/former employer may not offer a pension, you can create guaranteed lifetime income with a private annuity from a major U.S. insurance carrier. Funds from IRAs, 401(k)s, 403(b)s, Thrift Savings Plans, CDs from the bank, etc., can all be used to create this kind of financial security.

Ask your advisor today about whether or not an annuity is right for you.

Jac M. Arbour, CFP®, ChFC®