For a variety of reasons, many people, particularly those in the baby boom generation, are considering retiring later than they might have originally planned. If you’re in this group, you’ll want to take full advantage of those extra working years by contributing as much as you can to a retirement plan that can help you build resources, defer taxes and, ultimately, maximize income. And if you own a small business, you’ve got some attractive plans from which to choose.

Let’s look at two of these retirement plans — the “owner-only” 401(k) and the defined benefit plan. read more »

Kitsap Bank reported earnings of $1.46 million for the first quarter 2011 compared to $417,000 one year ago, up $250%, marking their best quarterly results in two years. The Bank distributed $800,000 in quarterly dividends to shareholders on March 31. Non-performing assets are down substantially; and are well-controlled at only 1% of assets, among the lowest in the State of Washington.

“We are very pleased with our results, and we continue to improve,” said Jim Carmichael, President and CEO. “Kitsap Bank enjoys the benefit of a conservative credit culture, which has resulted in rapid improvement in the bank’s asset quality and earnings. read more »

Wells Fargo & Company reported record net income of $3.8 billion, or $0.67 per diluted common share, for first quarter, up from $2.5 billion, or $0.45 per share, for first quarter 2010.

“Our strong first quarter results reflected positive trends in our business fundamentals as credit quality improved, capital ratios increased and cross-selling reached new highs,” said Chairman and CEO John Stumpf. “As the economy continued an uneven recovery, our business customers increased borrowing and utilization of credit lines read more »

If you are thinking about investing in Green energy stocks, don’t.

Not if you need the money for retirement, or college, or anything besides impressing your friends with good intentions.

Because green energy companies are creating a lot more press than profits. And that will get worse before — if ever — it gets better. read more »

The board of directors of U.S. Bancorp has approved a 150 percent increase in the dividend rate on U.S. Bancorp common stock to $0.50 on an annualized basis, or $0.125 on a quarterly basis. The quarterly common stock dividend of $0.125 per common share was payable on April 15 to shareholders of record at the close of business on March 31.

Additionally, the board of directors of U.S. Bancorp approved an authorization to repurchase up to 50 million shares of its outstanding common stock. This new authorization replaces the company’s current share repurchase program. read more »

Political turmoil in several Middle Eastern petroleum-producing nations has only increased the uncertainty about energy supplies and consequent price volatility worldwide.

Naturally, this factor has fanned the drive for increased energy efficiency and cost controls by businesses in Kitsap County and throughout the country.

Many companies in this environment are taking a new look at equipment leasing as a strategy to bring energy efficiency retrofits — such as energy-saving lighting, and HVAC systems — within reach. read more »

She stood up, alone in a group of strangers, walked to the front of the classroom, took an obvious deep breath and said in a soft but firm voice, “My name is Eve King-Hill and I want to start a psychotherapy practice in Poulsbo.”

Eight weeks later, Eve and 25 other entrepreneurs graduated from what she described as an ‘intense’ Business Development Training Class offered by the Washington Community Alliance for Self Help (CASH).

In the class, Eve worked on her business and when it appeared to be a feasible idea, she began to develop a formal business plan. read more »

Many people depend on certificates of deposit (CDs) to provide extra income. Yet CD rates have been fairly low for a while. In recent months, in fact, one-year CDs were paying about 0.5 percent, two-year CDs topped out at around 1 percent, and five-year CDs paid in the 2 percent to 2.3 percent range. Those rates are scanty enough, but they can seem even lower in an economic environment marked by rising food and gas prices.

Before you consider alternatives, keep in mind that CDs still offer a key advantage: safety of principal. The Federal Deposit Insurance Corporation (FDIC) typically insures CDs up to $250,000. read more »

When online banking became available a few years ago, consumers were cautious in adopting the new convenience. Since then, online banking has become mainstream — and more popular for some transactions than visiting a branch. An American Bankers Association survey last year estimated that 36 percent of consumers preferred online banking, compared to 25 percent for branches — a reversal from 2007, when online comprised 23 percent and branch banking 35 percent. read more »