From the Editor: ‘Investment’ taking different forms in Maine
Wealth management and retirement typically garner thoughts of investment portfolios, 401(k) plans and IRAs. But, as this issue illustrates, investments in Maine also include real estate and even art collection.
As Renee Cordes reports in our cover story, even amid a pandemic year, money continued to flow into art investment. She talks with a range of gallery owners and investors, who are investing in works ranging from $200 to $90,000 and more. See “Picture this” on Page 10.
Another investment vehicle that’s gained notice in recent years is the 1031 tax exchange, which allows real estate investors to buy and sell properties without onerous capital gains taxes. But, as Maureen Milliken reports, the 1031 provision, so named for its IRS code, faces elimination. See “Is 1031 all done?” on Page 16.
For the average person in a retirement plan, the past year has been a time of uncertainty. Laurie Schreiber checks in with financial advisors to see how the gameplan for later years has changed. See “Retirement planning through the pandemic” on Page 14.
A note on our list of the largest Maine-based Registered Investment Advisors, on Page 22. In response to complaints we’ve received in the past years, as the title indicates, this year’s list is limited to Maine-based Registered Investment Advisors. Some names you’ve seen in past year’s lists are not included this year, though the top two firms — both based in Maine — have not changed.
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