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W W W. M A I N E B I Z . B I Z 19 M AY 1 4 , 2 0 1 8 F O C U S W E A LT H M A N A G E M E N T / R E T I R E M E N T Doing so brings its challenges. Millennials are the first all-digital gener- ation and tend to distrust big brands but value authenticity and social responsibil- ity. ey also start their wealth education at a younger age, and those who entered the workforce as the 2008 financial crisis struck tend to manage their finances more conservatively. Shattering stereotypes While often stereotyped as entitled, self- absorbed over-spenders obsessed with social media and technology, millennials' money habits have proven to be as good as — or better than — older generations. "You're talking about a highly edu- cated cohort of people, with probably the greatest percentage of college atten- dance and graduation that we have seen, and people who are incredibly engaged in every way and interested in commu- nity and global impact," says Amanda Rand, who took the reins as president and CEO of Portland's Spinnaker Trust MONEY TIPS FOR MILLENNIALS Start saving and investing for retirement early, as the power of compounding is profound. Amanda Rand, Spinnaker Trust Commit to a sensible invest- ment strategy and stick to it unless your goals change. Avoid market timing! David Robinson, Robinson Smith Wealth Advisors Automate investing through payroll deductions with annual increases, or make it a percentage of your pay. Tracey Daigle, Robinson Smith Wealth Advisors Pay off the highest interest rate student loans before doing anything else. The interest rate is not tax-deductible. Geoff Alexander, R.M. Davis The key to long-term finan- cial success is to live on less than you make. Michael Kitces, XY Planning Network and Pinnacle Advisory Group C O N T I N U E D O N F O L L OW I N G PA G E » Meet Jeff Charland, Business Banker and Mountain Biker www.bhbt.com • 888-853-7100 In what direction do you want to take your business? Let Jeff help you focus and steer clear of every groove, root, rock, hole and bump. With sound judgement, he will advise you when to lean forward, shift, keep pedaling, relax and bend with the bumps. Having worked with many business owners over the years, Jeff can help you clear every obstacle in your path. You, Jeff and your business, working together as one. Looking for some traction? Call Jeff today. Photo by: Chris Pinchbeck PLEASE JOIN US May 24, 2018 | 9:00 AM - 5:30 PM | Drummond Woodsum, Portland, ME $299 PP (includes breakfast, lunch and networking reception) Fields of Green: A Cannabis Business Symposium Towns will play an important role in shaping and regulating the marijuana industry in the state of Maine. This symposium will feature experts who will help towns understand the scope and extent of their ability to regulate marijuana businesses and to safely take advantage of the economic development potential of this emerging market. Never before have these high profile speakers gathered in such an approachable intimate setting to provide just the advice and clarity that you need to approach this field. Topics will include: • An overview of current medical and adult use marijuana laws • Home Rule Authority – what towns can and cannot do to regulate a marijuana business • Best practices for regulating fire and safety issues relating to extraction, processing and cultivation • What does a vertically integrated marijuana business look like? • Lessons learned from how one town put together their marijuana ordinance Patricia Rosi, CEO of Wellness Connection Chris Witherell, P.E., Founding Partner, Pressure Safety Inspectors LLC Greg Chin, Partner, CohnReznick Chris Altomare, CEO, Nova Analytic Labs Maureen McNamara, Founder of Cannabis Trainers Hannah King, Attorney, Drummond Woodsum Edward (Ted) Kelleher, Attorney, Drummond Woodsum Learn from Top Policy Makers and Leaders in the Cannabis Industry! REGISTER TODAY: dwmlaw.com | 800.727.1941 Learn more at dwmlaw.com/upcoming-events