W W W. M A I N E B I Z . B I Z 13 M AY 5 , 2 0 2 0
F O C U S W E A LT H M A N A G M E N T / R E T I R E M E N T
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FAMILY ASSET MANAGEMENT
I N V E S T M E N T M A N AG E M E N T • T R U S T S E RV I C E S • FI N A N C I A L A DV I C E • E S TAT E P L A N N I N G
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his year's economic shutdown has created havoc from Wall Street to
Main Street, which in turn has affected not only retirement accounts but
succession planning at small- and family-owned businesses. Much of Maine
is made up of small and family-owned businesses. Once a succession plan
has been established, according to the research firm SmartAsset, here are
Maine's most affordable retirement spots to consider.
F O C U S S TA R T S O N F O L L OW I N G PA G E
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S O U R C E : Family Firm Institute Inc./Institute for Family-Owned Business
FAMILY-OWNED, GLOBALLY AFFECTED
S O U R C E : SmartAsset
MAINE'S 10 MOST AFFORDABLE COUNTIES FOR RETIREMENT
80% 62% 70–90% +6.65%
Estimated property tax Cost of living
Piscataquis Washington Oxford Lincoln Penobscot Aroostook Cumberland Hancock Waldo Sagadahoc
$31K
$30K
$32K
$33K
$34K
$35K
$1.0K
$0.5K
$0
$1.5K
$2.0K
$2.5K
$4.0K
$3.0K
$3.5K
Piscataquis Washington Oxford Lincoln Penobscot Aroostook Cumberland Hancock Waldo Sagadahoc
$1,405 $1,419 $1,801 $2,213 $1,941 $1,404 $3,628 $1,977 $1,996 $2,721
$30.65K $30.60K $30.61K $32.67K $30.71K $30.58K $34.59K $32.15K $31.67K $32.21K
Maine businesses which
are family-owned
global GDP created by
family-owned business
U.S. workforce employed
by family-owned business
return on assets vs.
non-family firms
