Eighty-five participants formed the largest turnout among the seven summits held since 2007. About half the attendees this year were women.

Andrew is considering buying a boat of her own, but the finances involved are a bit intimidating. And skippering a vessel while nursing her son — and future babies — seems tricky.

“If anyone has the answers, I would love to hear from them,” Andrew said.

Balancing the pressures of commercial fishing with family life was the focus of one panel discussion at this year’s summit. Some key take-home messages emerged — for example, family comes first, no matter how exciting or profitable the fishing might be.

“When you’re home, be home,” said Steven Rhodes, a two-time summit attendee and fisherman from Sitka.

Don’t always talk about fishing. Turn off the phone and play with your kids, said several panelists, all experienced fishermen.

Other sessions included both nitty-gritty and big-picture details on how to navigate the Alaska fisheries regulatory process; how to successfully direct-market fish; how to maintain a vessel; and how to make a business plan, apply for loans, pay taxes and make a profit, or at least not go too far into the red or miss loan payments.

“I suspect it’ll happen to each of you at least once. Commercial fishing is all about risk management. Fish returns, for example, aren’t something you can control,” said Lea Klingert, president and chief executive of Alaska Commercial Fishing and Agriculture Bank.

Klingert, displaying spreadsheets with a variety of financial scenarios for fishermen, reassured the youthful audience that lenders like her are there to help if fishermen are serious about running a successful operation.

“We’re going to ask you for more financial information, and we’ll come up with a plan,” Klingert said.

However, if the borrower is off spending thousands of dollars on a Hawaiian vacation while behind on a loan, “we might have a different conversation,” Klingert said. - More...
Sunday PM - December 31, 2017

MONEY MATTERS: CHOOSING THE RIGHT SOCIAL SECURITY BENEFITS By MARY LYNNE DAHL, CFP® - In case you were thinking it would be simple to sign up for Social Security benefits at retirement, think again. It is anything but simple, unfortunately. Getting the wrong benefits can cost you a lot of money, now or later. Here are some issues to understand before you sign up for Social Security.

First of all, decide when you want to start getting retirement income benefits. It does not have to be the same date that you retire. You can start early at age 62 but your benefit amount will be reduced by 25%.You can wait until full retirement age, either 66 or 67, and receive your full benefit. Or you can wait until age 70 and get a benefit that is increased by 8% per year between your full benefit age and age 70. A majority of US citizens take their benefits early, at age 62.

If you are married and both of you are entitled to benefits from your own earned income, it may work out that one of you can start retirement income at age 62 and the other one wait until age 70, but you will need to crunch the numbers to see if this will work for you or not. If you are single, it does not work out to your advantage to start retirement income early, at age 62 unless you are suffering from a terminal medical condition that is likely to shorten your life. Otherwise, there is no good reason to start taking Social Security benefits at age 62 if you are single. - More...
Sunday PM - December 31, 2017

JEFF LUND: The 2018 outdoor agenda - It’s weird to ask yourself what you want and why because sometimes you think you should have answered it better, as if it’s a contest and there are judges expecting you to say “world peace” or to “make a difference” every time. 

It’s even weirder when you’re reading another book on essentialism and it’s telling you about the power of saying No, because how are you supposed to make a difference, or have any fun, if you say No, right? 

No is often a bad word, especially to someone who likes to hunt and fish. Who says No to new gear that is better (in ways that are unclear, but you convince yourself anyway). 

Because it’s the beginning of 2018 and plans require thought, I prioritized my outdoor life for 2018, particularly the adventures I will put the most energy and money toward. I wrote down the first images that came to my head when I asked myself, “picture yourself doing ______ this year.” - More...
Sunday PM - December 31, 2017

JASON GRAVES: New Year's Absolution - I've never been one to make New Year's resolutions. In fact, I usually scoff at the very concept of suddenly making a decision to change some aspect of one's life, especially after a night that, for many folks, involves staying up too late and losing important articles of clothing in public. The most crucial decision these people should be making is how to navigate their way to bed without ruining the carpet. But this year, I've decided to make some significant changes, considering that it's noon on a Tuesday as I write this, and I'm still wearing pajamas.

Speaking of pajamas, my first resolution is to clean out my underwear drawer. We've all been there. It's 6:00 a.m.our bodies and minds are barely functioning, and we just grab whatever's on top in the drawer where we think we crammed our clean underwear the last time we finally put them away and stopped getting dressed out of the laundry basket. It might be a pair with enough holes to strain pasta. (Try getting that image out of your mind.) It might be a pair you've had since your senior year in high school and now fits like a giant pressure bandage. Or it might be a pair that has lost its elasticity and by the end of the day becomes an extra pair of socks. Life is just too short to wear uncomfortable underwear, and by golly, if I had to choose, I'd rather wear none at all - yikes! - More....
Sunday PM - December 31, 2017