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ATTENTION: REHOBOTH BUSINESS OWNERS

Local business owners should be aware of a new police for filing a business certificate in Rehoboth. If you file a “Doing Business As” form, you must first go to the building inspector-zoning office before submitting your paperwork to the town clerk’s office.  They need to determine if your business is properly zoned and if any other filings are necessary before your business certification is authorized at the Town Office.  So, please go to the Building Inspector’s office at 320 Anawan Street first before seeing the town clerk.  Business certification is valid for a period of four years and will cost you $50.  If you have any questions, please contact Laura Schwall or Lynn Shaker at 508-252-6502, ext. 109.


Rehoboth Business Association
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BCSB OFFERS LOANS TO
SMALL BUSINESS

Bristol County Savings Bank is one of fifty-one Massachusetts banks participating in the Small Business Banking Partnership created by the Massachusetts State Treasury.  This program is redistributing state tax funds to insured, responsible community banks that will extend new loans to small businesses.

    Bristol County Savings Bank was originally approved for and received $5 million under the Small Business Banking Partnership in July 2011 and then received an additional $5 million in funds under the expanded program in March 2012.  The bank is currently one of only twenty-nine Massachusetts banks to have received the additional funding, up to the maximum of $10 million.

   Since July 13, 2011, Bristol County Savings Bank has originated 355 small business loans that meet the underwriting requirements outlined by the Small Business Banking Partnership, with committed original loan balances totaling $40,670,892.20, and with outstanding principal balances of $18,530,911 as of June 30, 2016.

     This initiative is not costing Massachusetts taxpayers as it simply reallocates previously paid tax funds from the treasury to local banks.  In this way, tax funds are being used to speed economic recovery through new loans to small businesses which, in turn, will lead to new jobs and more money available to engage in business activity.

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Listing and More Info

BCSB NAMED TO 2017 TOP CHARITABLE CONTRIBUTORS

Bristol County Savings Bank recently made Boston Business Journal’s list of top charitable contributors in the state.  BCSB ranked #42 on a list of 94 companies that granted at least $100K to Massachusetts non-profits during the 2016 calendar Year. The bank’s foundation awarded more than $1.5 million to various non-profit organizations last year.  “This recognition of our efforts and those of our Foundation is pretty special as we are a community mutual bank and believe that the neighborhoods we serve are our stakeholders,” said Patrick Murray, President & CEO of Bristol County Savings Bank and President of Bristol County Savings Charitable Foundation.  “This allows us to place a premium on being actively involved in the community.  In fact, our mission is to support our communities by making them a better place to live and work.”  Murray added that the Foundation has committed a total of more than $18 million to hundreds of different non-profit organizations since its inception a little more than 20 years ago.

REPRESENTATIVE STEVEN

HOWITT SPEAKS AT REHOBOTH BUSINESS ASSOCIATION DINNER

The Rehoboth Business Association recently hosted a well-attended dinner meeting at M & D’s Restaurant on Route 44 in Rehoboth with guest speaker Representative Steven Howitt.

    Following a delicious dinner, the RBA membership discussed the town’s proposed new sign bylaw to be voted on by residents at the Rehoboth Special Town Meeting on November 6 in the DRRHS auditorium beginning at 7 PM.

     “The RBA played a big part in making it business friendly,” said RBA President Tim Johnson.  “If anyone has concerns or questions, please contact a board member so we can address it,” added Johnson.

     Representative Howitt gave an update from the state house and detailed current issues being addressed by state lawmakers.  One of the biggest issues facing the commonwealth is health care.  Howitt said that 40% of the state budget goes, in some way or form, to cover the Mass Health budget.

    Howitt also reminded the group the state Department of Transportation is scheduled to repave Route 44 from Seekonk to Taunton next year.

    New members are always welcome to join the RBA that represents the interests of local business people.  Visit rehobothbusiness.com for more information.

 
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CAN YOU AFFORD

EARLY RETIREMENT?


Some people dream of retiring early. Are you one of them? If so, you’ll need to plan ahead – because a successful early retirement can’t be achieved through last-minute moves. So, if you’re determined to retire early, consider taking the following steps:


Pick a date.  Early retirement means different things to different people. But it’s important to pick an exact age, whether it is 60, 62, 64, or whatever, so you can build an appropriate retirement income strategy.

Think about your retirement lifestyle.  You may know that you want to retire early – but have you thought about what you want to do with your newfound time? Will you simply stay close to home and pursue your hobbies? Do you dream of spending two months each winter on a tropical island? Or are you thinking of opening your own small business or doing some consulting? Different retirement lifestyles can have vastly different price tags. Once you’ve envisioned your future, you can develop a saving and investment plan to help you get there.

Boost contributions to your retirement plans.  If you want to retire early, you may well need to accelerate your contributions to your retirement accounts, such as your IRA and your 401(k) or other employer- sponsored plan. You may need to cut back in other areas of your life to maximize the amounts you put into your retirement plans, but this sacrifice may be worth it to you.

Invest for growth.  Your investment strategy essentially should be based on three key factors: your goals, risk tolerance and time horizon. When you change any one of these variables, it will affect the others. So, if you shorten your time horizon by retiring early, you may well need to reconsider your risk tolerance. Specifically, you may need to accept a somewhat higher level of investment risk so you can invest for greater growth potential.

Keep a lid on your debt load.  It’s easier said than done, but try to manage your debt load as tightly as possible. The lower your monthly debt payments, the more you can contribute to your retirement plans.

Life is unpredictable. Even if you take all the steps described above, you may still fall short of your goal of retiring early. While this may be somewhat disappointing, you might find that adding just a few more years of work can be beneficial to building resources for your chosen retirement lifestyle. For one thing, you can continue contributing to your IRA and your 401(k) or similar employer-sponsored plan.

Plus, if you’re still working, you may be able to afford delaying your Social Security payments until you’re closer to your “normal” retirement age, which, as defined by the Social Security Administration, likely will be 66 or 67. The longer you put off taking these benefits, the bigger your monthly checks, although they will max out once you reach 70.

And even if you are not able to retire early, some of the moves you took to reach that goal – such as contributing as much as you could afford to your IRA and 401(k), controlling your debts, and so on – may pay off for you during your retirement – whenever it begins.

Linda M. Ferreira, AAMS

Financial Advisor

Edward Jones

492 Winthrop Street, Unit 1

Rehoboth, MA 02769

508-336-4606


Edward Jones, its employees and financial advisors cannot provide tax or legal advice. You should consult your attorney or qualified tax advisor regarding your situation. This article was written by Edward Jones for use by your local Edward Jones Financial Advisor.