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.