(Nasdaq: MASB) is the holding company for MASSBANK, which operates 15 branches north of Boston in the communities of Reading, Chelmsford, Dracut, Everett, Lowell, Medford, Melrose, Stoneham, Tewksbury, Westford and Wilmington. The bank's retail products include checking, savings, money market, and NOW accounts, as well as certificates of deposit and individual retirement accounts. The company's loan portfolio is dominated by conventional residential mortgages to customers that live or work within the bank's market area.Founded in 1987, Rucci, Bardaro & Barrett provides business, tax and financial planning consultation and services to individuals and to companies in an array of industries. The firm is the Boston-area affiliate of Russell Bedford International, an international accountancy network of member firms in more than 50 countries.For more information about Rucci, Bardaro & Barrett, please visit www.rb-b.com..

Well, it can seem like forever?especially if you haven't saved up enough money. It is a daunting task, attempting to set aside enough money to supply an income for 25 or 30 years, in the 15, 10 or 5 years you have before you retire. We say this because most people don't get really serious about their retirement planning until they hit 50?and realize they had wanted to quit work at 55! This is the standard model that has been followed since we began living long enough to bother with retirement savings. You set aside enough cash to cover things off at some future distant time. You build the nest egg and then hope it lasts, and the financial planning community is right there to help you.

And yet this is not how the most successful people in our community do things at all!Still, most people are busily trading their time for their money. As an employee, you are limited by how much time you can actually devote to your job, and you are limited by how much time you want to devote to your job. Time you give to your workplace is time you don't get for yourself. It's similar for self-employed people such as our selves. The more successful we are as financial advisors, the more ?in demand' we become, and the less time we have.Retirement looks pretty good when you're an employee, or a self-employed person.

You'll have the money coming in, and the time for yourself. The problem is that it is an awful long way off. Is there another way?The first time Rick read ?Rich Dad, Poor Dad', he just got irritated. After all, this was the book that pointed out how he was locked in the self-employed cycle where success leads to less free time. And he likes his free time.

However, author Robert Kiyosaki also proposed ?an out'. It's called passive income. Passive income is income you have coming in to the household that you don't really work for anymore. The key is that it is designed to happen in the near future instead of the distant future.Since reading his books we have begun to change our financial plan. Instead of continuing to organize our finances around future income for a distant ?retirement', we are re-orienting things toward near-future passive income and ?financial freedom'.

We have been doing this by purchasing income-producing real estate and by looking to start internet businesses.The success of our new ?passive income' plan remains to be seen, but it is interesting to note how changing our end result from retirement to financial freedom has completely altered the path we're taking. These two goals are NOT the same. When you build a retirement nest egg you are looking to draw an income from it at some future time. When you are looking to attain financial freedom, you are looking to purchase or create assets which provide you with ?passive' income right away.Should everybody be changing their financial plan? Of course not. For one thing, many people hate the idea of being landlords, and many others don't have the stomach for business, let alone the technology business.

Retirement planning is still needed. RRSP's, mutual funds, and other longer term savings programs still have their place. There will always be employees and self-employed people who rather like what they do and are quite okay working until their retirement age.All the same, if you are wondering if there might be a better way to ensure your future financial wellbeing ?sooner', perhaps you should pick up a copy of ?Rich Dad, Poor Dad'? and get irritated. Either way, it will probably turn out better for you than it did in the past.In the past most people never retired. They died..

The CFEBS program equips financial planners, insurance agents, accountants, investment advisors, stock brokers, tax preparers, and other professionals with a thorough understanding of federal employee benefits and associated retirement planning. "Achieving CFEBS certification helps financial planners to learn the ins and outs of these benefits programs and to reach federal employees who are in need of quality financial planning services," Snow explained. Snow is a 20-year veteran financial and estate planner, who has more than 10 years experience in assisting federal employees.Snow says the federal and postal employee market ? consisting of more than. 2.5 million workers ? is often overlooked by the financial planning community. U.S.

federal government employment statistics indicate that approximately 50% of federal workers will be eligible to retire in the next five years. "The opportunity in this market for financial planners is a goldmine. Thousands of federal employees have $500,000 or more invested in a 401(k)-like savings plan. These are funds that can be rolled over into other investment options at retirement," Snow states. Snow also points out that in addition to investment options, federal employees face many important decisions regarding health, life and long-term care insurance options, as well as special tax considerations.CFEBS training courses ? offered by independent study or conducted on-site at financial service firms -- provides professionals with numerous helpful training materials.

The materials include resources to help the professional identify the retirement needs of federal employees, as well as strategies on the best ways to reach potential clients in this market.Snow states that hundreds of financial professionals now hold the CFEBS certification or are enrolled in the course, which was first offered in 2003. Information on the CFEBS program can be found at http://www.FEBSI.com or by calling FEBSI at 1-800-696-3505.???? Federal Employee Benefits Specialist, Inc. is a private, woman-owned small business in Castle Rock, Colo., and is an affiliate corporation of the Snow-Cap Agency, Inc. (http://www.snow-cap.com), a leading producer of employee benefits seminars and workshops for federal workers..

Everyone is welcome to participate.It covers general topics of Business, Cars, Entertainment, For Sale, History, Jobs, Life, Miscellaneous, News Headlines, Politics, Real Estate, Sports, Technology, Travel, and Wanted.You may find discussions ranging from the recent Earthquake, to active volcanoes or a vigorous discussion of mobile internet access. You can interact with others and learn about their real life experiences in Costa Rica weather just traveling or living here.Costa Rica's prime tourist season begins in December, so now is the time to start planning your escape from the cold winter up north. Costa Rica's weather for December through May offers spring/summer like temperatures with almost no rain!If you are dreaming of retirement in Costa Rica you can hook up with others that are already here!All of CostaRicaInternational.com's services are completely free. CostaRicaInternational.com also offers a directory of Hotels in Costa Rica and a store with Costa Rica related products, including flags, guide books and maps.CostaRicaInternational.com was created by Glen L. Roberts who "went on vacation a few year ago, and never went home".http://www.costaricainternational.comhttp://directory.costaricainternational.comhttp://board.costaricainternational.com.

Buy Calculator.MoneyToys allow you to easily add helpful, interactive content to help your web site stand out and give visitors reasons to return.Purchase individual MoneyToys calculators for $39.95 or buy the entire MoneyToys collection for only $139.95 at http://www.moneytoys.com. These are one-time fees. MoneyToys require no annual or traffic-based fees!Try the entire collection of MoneyToys at http://www.moneytoys.com. For more information, contact Wheatworks Software, LLC, Post Office Box 7, Ruston, LA 71273.About Wheatworks Software, LLCSince 1997, Wheatworks Software has developed innovative financial calculators for consumers, professionals and companies in the real estate, investment, mortgage and financial services industries..

Every day well-meaning parents or grandparents take what seem to be innocent, yet generous actions without the slightest hint at the Pandora's Box they've just created."If I put my son's name on the deed to the house, then he'll get it right away when I die and avoid probate," many reason. In the same way, a child's name is added to CDs, bank accounts, brokerage accounts and the like. This is often done for estate issues. Those doing so don't realize the tax consequences of their actions.In the eyes of Uncle Sam, you just gave your child a gift. And that means you owe your dear Uncle some serious dough.

For instance, put your son's name on your home that's valued at $300,000, and you just gave your son $150,000. That means you could owe Federal and State gift taxes equaling tens of thousands of dollars! The same goes for adding his name to your CDs or your brokerage accounts. There are other tax consequences. When your son sold the house, he could owe capital gains taxes based on your cost basis?potentially losing tens of thousands of dollars more in taxes. Most of the time, these taxes can be avoided through proper planning.There are other consequences to adding a child's name to an asset.

Doing so exposes that asset to the claims of the child's creditors and to possible loss in a divorce! In the above example, if the son is sued or declares bankruptcy, the parents' home could be lost, leaving them out on the street.There are emotional consequences, too. I've talked to many widows who live in fear of their children kicking them out of their own home. When their husband died, it seemed like a good idea to add a child's name to the deed. Now the relationship with the child is strained and the widow's health is deteriorating. With the child's name on the deed, the widow is no longer in control of her own home.You may be saying to yourself, "I did that a few years ago and Uncle Sam hasn't come knocking at my door.

We don't have to worry about that." Tell that to the man I talked to who added a child's name to the deed of his house almost ten years ago. Now the state is coming after him for $13,000 in taxes and penalties. Since many states are facing budget crisis, their pursuit of unpaid taxes has increased. They may not catch you right away, but there's a good chance they will eventually.There are better ways to avoid Probate without all the tax consequences. Gifts can be made in smaller amounts over several years.

You can name beneficiaries on bank or brokerage accounts so that they avoid Probate yet don't expose the asset to a child's creditors. A Living Trust can be used for real estate and Powers of Attorney will provide for the management of your assets should you become incompetent.So don't lose money from hidden tax consequences of adding a child's name to an asset. It's too easy to accomplish the same thing without all the headaches.Questions? Concerns? I'd be happy to provide clear, unbiased advice free of charge.Mr. Voudrie is a Certified Financial Planner and the President of Legacy Planning Group, Inc., a Private Wealth Management firm in Johnson City, TN. For more information call 1-877-827-1463 or email e-mail protected from spam bots .Looking for an energetic expert who is passionate about financial and wealth management? Mr.

Voudrie is an excellent speaker who will excite and inspire your audience. Mr. Voudrie is available for a limited number of speaking engagements, television appearances and radio talk shows. For booking information, contact Christine Lavender at (877) 827-1463 or email e-mail protected from spam bots .Related Articles can be found at www.guardingyourwealth.com under the Guarding Your Wealth Article Archive..

To the contrary, the vast majority know what needs to be done. They just haven't made a commitment to do it and this stems more often than not from a lack of know how," he continues.Most new practitioners, according to Ninh, initially go with "the fish bowl" because it is the easiest advertising strategy. The fish bowl is the collective term Ninh uses to refer to passive advertising mediums like the yellow pages. "Relying on yellow page display ads to generate enough office visits to build a business though is a lot like paying to put a business card in a fish bowl at the local pizza parlor in hopes the hourly drawings will result in enough free pizza to feed the family," Ninh says."The strategy may very well feed the family and, in fact, pay the rent, but it doesn't afford the practitioner a cost effective means to build a large practice."Ninh acknowledges that yellow page advertising, specifically display advertising, will generate a consistent return on investment but the return is normally not enough to stimulate growth and the cost of acquisition can sometimes run as high as $1,000 and that stands in stark contrast to the cost of acquisition his clients are experiencing. More importantly, passive advertising doesn't set a dentist apart from the competition and, thereby, put the practitioner at the top of the performance spectrum.

"It isn't enough these days to just get your name out there, your message has to be focused. To be effective advertising has to be attention getting; it has to hold the reader's interest long enough to stimulate an emotional response; and, finally, it has to motivate the reader to take action," he says. And the creation of marketing materials that motivate the consumer to take action is only half the equation. "If a dentist's staff doesn't know how to convert inquiries into office visits, even the most effective advertising will be rendered ineffective," Ninh goes on to say.To illustrate his point, Ninh shares a story about one of his early clients. "Dr.

?P' invited us into demonstrate our pay for performance program but there was a caveat. He just didn't see the need for staff training because his receptionist, his sister-in-law, had been working as his office manager for three years and he considered her ?exceedingly capable'," he says.Two weeks after the program got started, Ninh followed up only to hear his potential client deride the effectiveness of the effort. "I asked him how many office visits were generated by the program and he was quick to say that had only generated six. When I informed him that over the preceding 15 days his office had received 117 unique calls all of which were forwarded directly to his office through my toll free number, his response was typical and predictable," he said."You're kidding," he said."Needless to say, he came to realize that even the best program will fail if the office staff doesn't know how to convert those calls into office visits," he said.Coming to the realization that hands-on management is needed is the first step but this, too, presents a problem because most dentists don't have the time or energy to devote to the task. This is why Ninh advocates intensive staff training.

"Before an effective marketing program can be mounted, those tasked to answer the phone have to be trained. If they don't know how to turn inquiries into office visits, advertising dollars go to waste," he says.Ninh goes on to provide a typical example. "When a customer calls and asks if the dentist is a male or female, an untrained receptionist just answers the question. In doing so there is a 50% chance that the answer given will turn the caller away," he says. "Instead of answering the question, a trained receptionist will probe the caller to find out why that question was asked in the first place.

This dramatically increases the odds the up call will be turned into a visit," he said."So it isn't enough to know what you need to know about the effectiveness of your advertising dollar, you need to know that you can depend on your office staff to do what needs to be done so you can actually track results," Ninh says, "and that's where we come in."ND Communications offers its dental office marketing program on a pay for performance basis. In other words, the company doesn't get paid for its marketing services until the participating dentist sees results. "If we don't make the phone ring, if a high percentage of those calls aren't converted to office visits, we don't get paid," he says.The company's dental office marketing program is an outgrowth of personal experience. Dr. Nguyen's wife, Jacqueline, is a practicing dentist in one of the most competitive areas of San Jose, California.

Facing an investment of over $417,326 to get her practice started, they realizedthat they had to do something to make sure they recouped their investment. The program Ninh developed to promote his wife's practice now serves as the foundation of ND Communication's dental office marketing program. Dr Nguyen's background is impressive. After graduating from San Jose State University with a B.A. in Economics and later with an M.A.

in Applied Economics, he worked for a number of companies in the Silicon Valley in a variety of capacities: business development, marketing and communications, financial planning and analysis, and strategic planning. He has worked both as an employee and as a marketing consultant for such companies as Sony, Wyse Technologies, MML Investor Services, and Sanmina Corporation to name just a few. He accepted a professorship on the business faculty at the National Hispanic University and later joined the economics faculty at San Jose State University. He has an applied background in consumer choice models, applied decision sciences, sales techniques and management, economics of education, human capital models, marketing systems, financial economics, operations research/management science, and optimal portfolio strategy.He also serves as President of ND Communications, a firm that continues to develop and refine marketing and business systems for use in the dental industry. He personally has helped scores of dentists increase patient flow, recession-proof their practices, and increase patient retention by as much as 65%.

ND Communications limits itself to dental office marketing and only dental office marketing.If you are a practicing dentist and wish to give ND Communication's dental office marketing program a no obligation test drive, you can call him toll free at (800) 737-9019, visit DentalMarketingSecrets.com to learn more, or send him an email using the hyperlink located in the right hand column..

All too often homeowners will take out seconds from the same financial institution used to obtain the initial mortgage. This stands to reason, as the mere thought of mortgaging your home once is overwhelming enough for a surprising amount of individuals who might otherwise benefit from the act to avoid it altogether. A second mortgage, though, is a very important financial decision (just as, if not more important than the first) and should be treated with the same diligence and research as the first. Obtaining information through several lenders or brokers on the second mortgage regarding home mortgages such as; how much can you afford, as well as ascertaining how much of a down payment you will need, and find out all the costs involved in the loan is as vital to the process the second time around as it is the first. Simply seeing the monthly payment or the interest rate on the lien itself is not enough.

Knowing information about the same loan amount, loan term, and type of loan will allow you to compare the information from each lender and broker.Do your homework; get a hold of the current mortgage rates and understand whether the rates are being quoted the lowest for that day or week. Question whether the rate is fixed or adjustable, keeping in mind all the while that interest rates for adjustable-rate loans go up, which will also make the monthly payment go up. If the rate is quoted for an adjustable-rate loan, determine how your rate payment will vary. Again, these factors are as important during the process of obtaining a second mortgage as they are during the first.You might find that in considering a second mortgage, your financial situation would also lend itself to potentially refinancing a portion or even all of your existing debt. While serving essentially the same purpose as a refinance, a second mortgage can oftentimes be a more efficient and, ultimately inexpensive consolidation option.

Of first and foremost concern to most with enough debt to consider a second mortgage on their home to pay off debt, a second mortgage enables you to eliminate high interest debt much more quickly than would be possible with a refinance alone. The principle advantage of taking a second mortgage is its ability to allow the accomplishment of a specific goal, including but not limited to a reduction in the amount of interest being paid on credit cards (the principle reason homeowners choose a second mortgage as their most effective and efficient consolidation option). If the lien has a shorter pay-off term, the homeowner can look forward to one payment when the second mortgage is paid off. Once the decision is made that the goal is worth the investment, homeowners should shop for the right second mortgage lender, making sure that the one they select is reputable, responsive to their specific needs, and willing to discuss all of the costs up front. Keep in mind that these decisions have serious implications on your credit and foreseeable financial future.

If your payments remain regular you'll alleviate most of the interest rates pertaining to the loan and raise your credit rating.Unfortunately, second mortgages are far from federalized; they vary widely from state to state and private institution to institution. Nearly as important to performing regular due diligence in observing and researching companies which you might do business with in obtaining a second mortgage is to ascertain the nature of state laws which may or may not limit the capabilities and rights you have as a consumer. In some states, for example, second mortgages do not require borrowers to have equity in their home and many new loans are available up to 125% of value of the security in question (of your home). Many consumers have also found these loans useful for paying off their bills, making home improvements, and taking out funds from the loan for personal use. In other areas, such policies are not possible.

Ignorance of a state's laws or financial regulations may not be used as an excuse and will not protect you from excessive obligations or pitfalls which may result from problems which arise down the road.A second mortgage is more often than not the best option available for homeowners with large amounts of unsecured debt. Realizing the nuances of the mortgage process can not only help you to evade some of the problems you may have encountered during acquiring your first mortgage, but use the process to benefit you financially in the long run..

Even if you decide afterwards not to write your own plan, you will have a much better idea of what you want out of the process and what to expect. There are some good reasons for an entrepreneur to do the business plan: ?First of all, because you can. If you've read sample business plans and find their accounting jargon intimidating, you are not alone. But as long as you can clearly get your message across and have other people such as you accountant look at the plan before it goes to lenders or others, you can do this work yourself. ?It is in learning the business planning process that you develop analytical thinking skills necessary to run your business with an intimate understanding of your own business model.

Going through the planning process is an invaluable business experience. ?You need to know the plan inside and out and really understand the variables involved. You are the one who will be asked the tough questions by potential investors or lenders, such as "What will you do if only half your expected revenue comes in?" or "What will you do if you find out that direct mail is not working for you as your primary marketing tool?" Outsourcing the Business Plan ProcessEntrepreneurs are fire fighters. One of the most important jobs of an entrepreneur is to manage time, and do those things that you are best skilled to do. Many entrepreneurs decide to hire someone else to do their business plans, often because they have an urgent need for the funding and can't afford the learning curve to be able to develop a high-quality plan that will meet the needs of lenders or investors.

In addition, if your funding requirements are more than $500,000 my recommendation is to get some professional help with this project, even if you do some of it yourself. Some reasons to consider hiring a consultant:?It will get done! Business planning is done much faster with someone who knows the process. Every entrepreneur has good intentions about getting plans completed, but months later they still haven't done all the work. Planning should be high priority work, but it is hard to get to when customer calls and employee problems require immediate attention. The sooner the plan is completed, the sooner funding can be attained.

And the price of hiring the consultant will be small in comparison with the increases in growth and profitability of the business. ?It will get done in a way financial professionals will respect. Business planning is done better by someone who knows how finance people look at plans and what they will and won't question. Once you've been through the business plan process many times, you know what it takes to get funding - what to emphasize and what to play down. ?The consultant's objectivity will allow for non-emotionally-based projections and expectations for the business.

A consultant will be much more objective in the process and question your assumptions, making it less likely that the business will have problems after the funding comes in. No matter what, don't let a business planning consultant talk you into putting any information into your plan that you aren't comfortable with. If it doesn't look right to you, it probably isn't. It is your business, and you will be stuck with the plan long after you've paid the consultant's bill. Make sure it is the plan that you want, one that matches your goals and objectives, and captures the way you look at business and the spirit of your company.

If you do decide to hire a business planning consultant, here are some of the important questions to ask to make sure you get the greatest value from your investment: 1.How many business plans have you written for my type of business? How many of them were funded? 2.How much time will you need of mine during the planning process? 3.When will the plan be completed, and how many drafts should I expect to see and have the opportunity to comment on? 4.Will you be writing the plan yourself or do you have associates who do the work with you? 5.Will there be an opportunity for you to present the plan or for me to present the plan to my other advisors before the final draft is done? 6.How do you work in collaboration with my partners and advisors so their input is taken into consideration during the writing of the plan? 7.Do you do the market research and the financial spreadsheets, or are those things done separately (and charged for separately)? 8.Does your price include revisions or customization for certain types of funding (to include different information needed by investors versus lenders)? 9.Does your price include coaching to prepare me to talk with lenders or make financing presentations? 10.Will I have an electronic version as well as a hard copy version of the final plan (so I can make changes later if I need to)? The Optimum Solution: A Blended ApproachAt best, the planning process should not be at either end of the spectrum, but squarely in the middle. In my experience, plans that win funding come from a true collaboration between a skilled consultant/facilitator and the entrepreneur's team of employees and advisors. A business planning consultant can act as a coach, first assessing the job to be done, and then recommending who is best to do it. The business plan should be a compilation of work between the vision and goals of the entrepreneur, the technical understanding and expertise of his or her accountant and other professionals, a consensus of employees or others, and the research and writing abilities of the business planning consultant. The consultant should meet with all parties involved, talk about what is needed for the plan, and use all the resources available to get the work done as quickly and cost effectively as possible.

It is the consultant's responsibility in the process to take all the pieces and make the final plan into a readable, accessible document that will stand up to investor/lender scrutiny. My final caveats:?Don't pay more than a few thousand dollars for a plan unless you are looking for capital of well over $1 million. I have heard more than a few horror stories by people who have hired university professors assuming they are the experts (they aren't) and paying tens of thousand of dollars for a poorly written or incomplete plan. Ask your banker for business planning consultant recommendations, or better yet, talk with someone who had a good experience having a business plan written for them. It is reasonable for a consultant to expect you to pay half of the fee up front and the other half at the completion of the plan.

And you can't hold the consultant responsible if you don't get funding based on the plan ? too much is based on your own credit and management skills. ?Don't expect to get a finished plan that is a roadmap of everything you need to do to have a successful business. That isn't the purpose of the business planning process. A traditional business plan is intended only to document your strategies for the business very briefly ? but well enough to get funding. If you are hoping for something that will tell you how to market or how many people you need to hire, you will have to start with a deep strategic planning process, and probably buy lots of consulting time to get you going.

?Don't expect a great a business plan from a poor business model. If your costs are too high to make your business profitable, the business planning process will help you discover that. Then it will be up to you to make the hard decisions about changing your costs structure to make the business work. The business planning consultant is a skilled professional, not a miracle worker. A good business plan can help you highlight your strengths and minimize your weaknesses, but it cannot make an unworkable business model into a thriving business.

And one final thought: Don't go on to start a business or make changes in your current business if everything in the business planning process tells you it won't work. Things don't get better out in the real world if they don't work on paper. Deal with the weaknesses ? get more training, consider product redevelopment, or have a home-based business to reduce costs until you can sustain the rent for an office. Businesses fail finally because they've run out of money. If your plan tells you that you can't make enough money to make the business work for the long run, pay attention to that reality..

gomembers' software and technology enable its customers to automate a number of enterprise resource planning, member relationship management, transaction processing and member-to-member communications functions in a single software platform with seamless inter-processing of data across all applications.gomembers' membership, meeting, event planning and related solutions are used to improve operating efficiencies, enhance member services and enable interaction with and between members. Meeting and convention planning software products enable customers to coordinate virtually all of the required functions for complete event management. All gomembers' products are built using the latest technology including Microsoft's .NET framework.gomembers sells its solutions through a direct sales force and provides a wide range of customizations, training and support service to their customers.For more information on gomembers' solutions, please visit the Products section of our website. www.gomembers.comBecause many of gomembers' customers organize meetings and conventions on a regular basis, they also offer industry leading prepackaged software products that enable its customers to coordinate virtually all of the required functions relating to meeting and convention planningIf you would like more information about , please do not hesitate to e-mail: gomembers-inc@gomembers.com.