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18 The Weekly Sentinel
November 11, 2016
BUSINESS & FINANCE USDA Invests $427,000 to Help Maine Small Businesses Increase Energy Efficiency
STATEWIDE U.S. Senators Susan Collins and Angus King recently announced that the United States Department of Agriculture (USDA) will invest a total of $427,000 to help six Maine small businesses purchase and install renewable energy systems or upgrade to more
energy efficient equipment. The grants were awarded through the USDA’s Rural Energy for America Program (REAP). “These investments will help Maine small businesses adopt cost-effective and efficient renewable energy systems that provide significant annual savings as well as environmental
benefits," said Collins and King in a joint statement. “By cutting energy waste, small businesses can improve their bottom lines, increase their competiveness, and better support their local communities.� Local grant recipients in Maine are: KAPH Inc. in Eliot will receive $25,637 to help purchase
and install a 39.75 kW roofmounted solar array. Maine Textiles International, LLC in Biddeford will receive $140,295 to help purchase and replace textile dyeing equipment at the Saco River Dyehouse, reducing annual energy consumption by approximately 85 percent. Since 2009, USDA’s REAP
has invested nearly $13 billion to finance approximately 11,600 renewable energy and energy efficiency projects nationwide that in turn have reduced energy costs for 15,000 rural small businesses and farms. This year alone, REAP has invested a total of $237 million to support 423 businesses nationally.
3 Things Women Should Know if They Outlive Their Spouse
Edward Jones Salutes the courage and loyalty of our troops, both now and in the past. Thank you.
Deb DeColfmacker Financial Advisor .
49 B Portland Street South Berwick, ME 03908 207-384-5793
www.edwardjones.com Member SIPC
The importance of women taking an active role in a couple’s financial planning represents more than just jockeying over who gets to control the checking account. “Women on average live longer than men, which means they are going to need more money in retirement or else risk outliving their savings,� says Cristina Acosta, co-owner with Nancy Fromm of Money Wise (www.moneywiseaz.com), a financial planning firm. “That means they have a lot at stake. And women – men, too, for that matter – often don’t realize just how long retirement might last. If you retire around age 65, it’s possible your retire-
ment is going to last 25 or 30 years.� The death of a spouse can pose numerous financial difficulties. First, the survivor has to deal with the emotional issues associated with grieving, which means some financial decisions may be put on hold. “That’s not necessarily a bad thing,� Fromm says. “You don’t want to rush into any decisions you don’t have to make immediately.� But it won’t take long to start experiencing some of the financial consequences. If both spouses were drawing Social Security, one of those monthly checks is about to disappear. If the spouse had a pension, the amount of the check may be reduced for the survivor, or it could be eliminated. Acosta and Fromm have made improving the retirement outlook for women a significant
part of their work. They just recently launched a division of their company called Woman’s Worth, designed to focus on not only a woman’s finances, but also her physical and mental health, and her total well being. Acosta and Fromm say there are plenty of things worth knowing about finances before and after a spouse dies, from long-term care planning to tax minimization planning. Here are just three that women should keep in mind: • Seek professional advice. This is especially important for women who left finances up to their husbands. A financial professional can help you get a better handle on the options for making retirement more secure. “Find someone you’re comfortable with,â€? Acosta says. “You’ll want someone who can See SPOUSE page 19...
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