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Yahoo
4 days ago
- Business
- Yahoo
A 4-step guide to investing success for recent college grads
Start investing early to leverage compounding for long-term financial success. Financial planners recommend budgeting, building a buffer, and opening investment accounts. Consider a diversified portfolio with stocks and bonds, adjusting for risk tolerance. So you've just graduated from college. Congratulations! It's an exciting time in your life as you get ready to enter the workforce. One of the great things about being at the start of your career journey is that you have ample time to figure out the path you want to take in life and where your passions lie. Time is also your greatest asset when it comes to setting yourself up for a life of investing success. Thanks to the power of compounding, which Albert Einstein famously called the eighth wonder of the world, the earlier you start investing, the better. According to insurance firm Mass Mutual, a 22-year-old who invests $500 a month will have $2,255,844 by age 65, assuming the stock market delivers an average annual return of 8%. That number falls to $972,542 if one starts investing at 32. But investing isn't always easy, especially early on in your career when your earnings are lower. The process may also feel daunting and complicated if you haven't done it before. To put those fears to rest, we've come up with a step-by-step guide on how to best get your financial house in order so you'll thank yourself down the road. There's no one-size-fits-all approach for budgeting, so it's important to come up with a plan that works for you, said Melissa Cox, the Dallas-based owner of Future-Focused Wealth. Trying to keep up with someone who may have a different budget than you do is one of the most common mistakes she sees young people make. "So many people come out of school and they just go crazy spending money," Cox said. "Social media and everyone sees what everyone else is doing — don't fall into that." A good rule of thumb is to set aside 20% of your pre-tax income, according to Bryan Kuderna, the founder of New Jersey-based Kuderna Financial Team. So, if your salary is $100,000, you should be trying to save $20,000 a year. But again, the practical savings rate will vary from person to person. Many recent grads have student loans to tackle, so it's good to understand what your repayment options are, Cox said. Maybe forgiveness is possible, or lower monthly payments based on your income. Perhaps refinancing your loans will allow for more manageable payments. Finally, it's important to keep yourself a priority, Cox said. For example, perhaps you really value traveling or shopping — it's good to set some money aside for those things as well. When you start working, it's smart to set up a retirement account like a 401(k) or Roth IRA and start contributing right away. But we'll get to that in the next section. When it comes to your money outside those accounts, the first thing you want to do — assuming you don't have credit-card debt — is build up a buffer of six months of living expenses, Kuderna said. This is because people in their 20s often have big life events that they need the money for, he said. Having it in risky assets like stocks makes it vulnerable to downside in the near term. "I always say liquidity is huge for a young professional," Kuderna said. "I might move out, I might have to get a new car, I might be getting engaged, married, a kid — all these things that can happen in your 20s." While you might not want your money invested in stocks right away, you also don't want to have it just sitting in a checking account. Instead, plug it into a high-yield savings account or a money market fund to collect a better yield while short-term interest rates are still high. OK, now for the investment accounts. First, make sure you have a Roth IRA or 401(k) set up with your employer and are collecting their monthly minimum match. As of 2025, you can contribute up to $23,500 to a 401(k) and $7,000 to a Roth IRA. 401(k) contributions are made with pre-tax money; the money is then taxed upon withdrawal. Roth IRA contributions are made with post-tax income, and eventual withdrawals are not taxed. Setting these accounts up is important because the money comes straight out of your paychecks — it's like it never existed, and there's less of a temptation to spend it since withdrawals before you're 59-and-a-half years old are penalized at 10%. Plus, you can take advantage of the tax benefits. "I'm huge on Roth options, especially for young people," Kuderna said. "If we can get tax-free growth for another four or five decades, that's worth its weight in gold." Once those are set up, open up a brokerage account to invest your excess savings. Considering your cash savings, Kuderna said this is taking a three-pronged approach: having cash for the short-term, a brokerage account with stock investments for the medium-term (maybe a down payment for a house in five, 10, or 20 years), and retirement accounts for the long-term. Having a brokerage account for medium-term investments will allow you to capture potential market upside while not being subject to the 10% penalty of withdrawing money from a 401(k) or Roth IRA early. "You don't want to neglect the mid-term," he said. "When you're 40 or you're 50 and you need money, you don't want to hit your retirement accounts, and you don't want to have it all just sitting in cash." Now that you have your accounts set up, it's time to decide where to invest. The classic portfolio structure is 60% stocks and 40% bonds. Stocks, while riskier, offer greater upside potential. Meanwhile, bonds are supposed to act as a buffer to stock market volatility by protecting your capital, producing a steady yield, and appreciating during times of economic distress. But since you're in your 20s, you might consider allocating even more of your money to stocks since you can likely withstand more volatility, according to Chris Chen, the founder of Insight Financial Strategists. He said an 80/20 portfolio may be more appropriate. How you allocate money in your medium-term and long-term investment accounts may look different, however. For your 401(k) or Roth IRA, one simple way to invest for the long term is by buying a target-date fund. For example, you might choose the Vanguard Target Retirement 2065 Fund (VLXVX) or the State Street Target Retirement 2070 Fund (SSGQX). These funds automatically adjust your allocations to stocks and bonds as you age. As you start to approach retirement, the percentage of your money in bonds starts to increase to preserve your capital. Right now, the Vanguard 2065 fund has 53.1% of its assets in the Vanguard Total Stock Market Index Fund, which is made up of US stocks; 37.5% of the fund is in the Vanguard Total International Stock Index Fund; 6.5% is in US bonds; and 2.9% is in international bonds. Expense ratios, or the fees that certain funds charge, are also something to keep in mind. The Vanguard Target Retirement funds, for example, have a fairly cheap expense ratio of 0.08% a year. The cheapest S&P 500 index fund is the Fidelity 500 Index Fund (FXAIX) at 0.015%. For your medium-term investments, you should assess your risk-tolerance and timeline. Stock valuations are high at the moment, which suggests average 10-year returns may not be great. So if you need the money in five-to-10 years, being fully in stocks might be the wrong approach. But if you feel you can have a longer timeline than that, Kuderna said investing in bluechip stock indexes like the S&P 500 is a good approach. If you want to be especially aggressive, you might consider investing heavily in tech stocks, he said. The sector is often riskier than other areas of the market, but has seen explosive growth over the last 15 years. Some funds that offer exposure to tech stocks include the Technology Select Sector SPDR Fund (XLK), the iShares US Technology ETF (IYW), and the Invesco NASDAQ 100 ETF (QQQM). "If you look at the greatest returns over a long period of time, it's in equities, it's people who have a higher risk appetite," Kuderna said. "If you've done those beginning steps of building a rainy day fund, setting money aside, not carrying any bad debt — if you're good there and we can afford ourselves a long-term time horizon, then we should try to almost encourage ourselves to be a little more aggressive." 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Yahoo
4 days ago
- Business
- Yahoo
Top Security Executives Recognized at the 2025 BostonCISO ORBIE Awards
Leading CISOs honored for leadership, security, and business impact. BOSTON, June 05, 2025 (GLOBE NEWSWIRE) -- The 2025 BostonCISO ORBIE Awards recognized the exceptional leadership and cyber resilience of top security executives from MassMutual, Hologic, Clean Harbors, Cengage Learning, NETSCOUT Systems, Inc., ElevateBio & CVS Health. The prestigious ORBIE Awards - hosted by BostonCISO, a chapter of the Inspire Leadership Network - honor CISOs who drive business transformation and industry impact. Winners were recognized across seven categories: Super Global, Global, Large Enterprise, Enterprise, Large Corporate, Corporate, and Leadership. The ceremony, which took place at the Westin Boston Seaport, brought together top executives and industry leaders to celebrate excellence in security leadership. "Great CISOs recognize the power of collaboration and trusted relationships," said Bob Litterer, BostonCISO Chair. 'The BostonCISO ORBIE® Awards embody this by connecting, inspiring, and honoring CISOs for their leadership and the value they bring to Boston's businesses through enterprise security.' Meet the 2025 BostonCISO ORBIE Award Winners: ›› Chandra McMahon, SVP & CISO of CVS Health, received the Leadership ORBIE. ›› Eric Boateng, CISO & Head of Enterprise Cyber Security of MassMutual, received the Super Global ORBIE for organizations over $7.5 billion annual revenue & multi-national operations. ›› Pietr Lindahl, CISO of Hologic, received the Global ORBIE for organizations over $1.2 billion annual revenue & multi-national operations. ›› Richard Walzer, CISO of Clean Harbors, received the Large Enterprise ORBIE for organizations over $3 billion annual revenue. ›› Eric Galis, SVP & CISO of Cengage Learning, received the Enterprise ORBIE for organizations over $1 billion annual revenue. ›› Debby Briggs, VP & CISO of NETSCOUT Systems, Inc., received the Large Corporate ORBIE for organizations over $420 million annual revenue. ›› Christian Hamer, VP, Head of Information Security of ElevateBio, received the Corporate ORBIE for organizations up to $410 million annual revenue. About the ORBIE: The ORBIE is the preeminent executive recognition for C-suite leaders. Since 1998, the ORBIE Awards have recognized leadership excellence, building relationships between executives and trusted business partners, and inspiring the next generation of executives. Finalists and winners are selected through an independent peer-adjudicated process led by prior ORBIE recipients based on the following criteria: Leadership and management effectiveness Business protection created by enterprise security Engagement in industry and community endeavors BostonCISO ORBIE Keynote & Attendance: The keynote address for the BostonCISO ORBIE Awards was delivered by Chandra McMahon, SVP & CISO of CVS Health, who was interviewed by Bob Litterer, CISO of Teradyne. Over 300 guests attended, representing leading New England organizations and their technology partners. The following sponsors made the 2025 BostonCISO ORBIE Awards possible: Underwriters: Fortinet & Google Cloud Gold Sponsors: eSHARE, Nuharbor Security & Optiv Silver Sponsors: Okta, Red Canary, Tanium & Wiz Bronze Sponsors: Advizex Technologies, Aqueduct Technologies, Armis, Between Pixels, Blue Mantis, CGI, Charles River Associates, DataPivot Technologies, Guidepoint Security, K logix Security, Proofpoint, PwC, RSM US, SentinelOne, WEI & Winslow Technology Group Media Partner: Boston Business Journal National Partner: Year Up United To learn more about sponsorship opportunities and how to connect with leading C-suite executives across North America, click here. About BostonCISO: BostonCISO is the preeminent peer leadership network of chief information security officers (CISOs) in New England. As one of over 40 chapters of the Inspire Leadership Network, BostonCISO belongs to a national membership organization exclusively comprised of C-suite leaders from public and private businesses, government, education, healthcare, and nonprofit institutions. BostonCISO is led by a CISO Advisory Board, with support from an executive director and staff. Underwriter executives support the chapter and ensure the programs remain non-commercial and exclusive to qualified CISOs and members. About Inspire Leadership Network: Inspire Leadership Network is the preeminent peer leadership network of C-suite executives. With nearly 2,000 members across more than 40 local chapters, Inspire members serve public and private businesses, government, education, healthcare, and non-profit institutions. Inspire exists to help leaders thrive in today's most challenging executive roles. Media ContactNicole A photo accompanying this announcement is available at
Business Insider
5 days ago
- Business
- Business Insider
A 4-step guide to investing success for recent college grads
So you've just graduated from college. Congratulations! It's an exciting time in your life as you get ready to enter the workforce. One of the great things about being at the start of your career journey is that you have ample time to figure out the path you want to take in life and where your passions lie. Time is also your greatest asset when it comes to setting yourself up for a life of investing success. Thanks to the power of compounding, which Albert Einstein famously called the eighth wonder of the world, the earlier you start investing, the better. According to insurance firm Mass Mutual, a 22-year-old who invests $500 a month will have $2,255,844 by age 65, assuming the stock market delivers an average annual return of 8%. That number falls to $972,542 if one starts investing at 32. But investing isn't always easy, especially early on in your career when your earnings are lower. The process may also feel daunting and complicated if you haven't done it before. To put those fears to rest, we've come up with a step-by-step guide on how to best get your financial house in order so you'll thank yourself down the road. Come up with a budget There's no one-size-fits-all approach for budgeting, so it's important to come up with a plan that works for you, said Melissa Cox, the Dallas-based owner of Future-Focused Wealth. Trying to keep up with someone who may have a different budget than you do is one of the most common mistakes she sees young people make. "So many people come out of school and they just go crazy spending money," Cox said. "Social media and everyone sees what everyone else is doing — don't fall into that." A good rule of thumb is to set aside 20% of your pre-tax income, according to Bryan Kuderna, the founder of New Jersey-based Kuderna Financial Team. So, if your salary is $100,000, you should be trying to save $20,000 a year. But again, the practical savings rate will vary from person to person. Many recent grads have student loans to tackle, so it's good to understand what your repayment options are, Cox said. Maybe forgiveness is possible, or lower monthly payments based on your income. Perhaps refinancing your loans will allow for more manageable payments. Finally, it's important to keep yourself a priority, Cox said. For example, perhaps you really value traveling or shopping — it's good to set some money aside for those things as well. Build a buffer When you start working, it's smart to set up a retirement account like a 401(k) or Roth IRA and start contributing right away. But we'll get to that in the next section. When it comes to your money outside those accounts, the first thing you want to do — assuming you don't have credit-card debt — is build up a buffer of six months of living expenses, Kuderna said. This is because people in their 20s often have big life events that they need the money for, he said. Having it in risky assets like stocks makes it vulnerable to downside in the near term. "I always say liquidity is huge for a young professional," Kuderna said. "I might move out, I might have to get a new car, I might be getting engaged, married, a kid — all these things that can happen in your 20s." While you might not want your money invested in stocks right away, you also don't want to have it just sitting in a checking account. Instead, plug it into a high-yield savings account or a money market fund to collect a better yield while short-term interest rates are still high. Open multiple investment accounts OK, now for the investment accounts. First, make sure you have a Roth IRA or 401(k) set up with your employer and are collecting their monthly minimum match. As of 2025, you can contribute up to $23,500 to a 401(k) and $7,000 to a Roth IRA. 401(k) contributions are made with pre-tax money; the money is then taxed upon withdrawal. Roth IRA contributions are made with post-tax income, and eventual withdrawals are not taxed. Setting these accounts up is important because the money comes straight out of your paychecks — it's like it never existed, and there's less of a temptation to spend it since withdrawals before you're 59-and-a-half years old are penalized at 10%. Plus, you can take advantage of the tax benefits. "I'm huge on Roth options, especially for young people," Kuderna said. "If we can get tax-free growth for another four or five decades, that's worth its weight in gold." Once those are set up, open up a brokerage account to invest your excess savings. Considering your cash savings, Kuderna said this is taking a three-pronged approach: having cash for the short-term, a brokerage account with stock investments for the medium-term (maybe a down payment for a house in five, 10, or 20 years), and retirement accounts for the long-term. Having a brokerage account for medium-term investments will allow you to capture potential market upside while not being subject to the 10% penalty of withdrawing money from a 401(k) or Roth IRA early. "You don't want to neglect the mid-term," he said. "When you're 40 or you're 50 and you need money, you don't want to hit your retirement accounts, and you don't want to have it all just sitting in cash." Decide where to invest Now that you have your accounts set up, it's time to decide where to invest. The classic portfolio structure is 60% stocks and 40% bonds. Stocks, while riskier, offer greater upside potential. Meanwhile, bonds are supposed to act as a buffer to stock market volatility by protecting your capital, producing a steady yield, and appreciating during times of economic distress. But since you're in your 20s, you might consider allocating even more of your money to stocks since you can likely withstand more volatility, according to Chris Chen, the founder of Insight Financial Strategists. He said an 80/20 portfolio may be more appropriate. How you allocate money in your medium-term and long-term investment accounts may look different, however. For your 401(k) or Roth IRA, one simple way to invest for the long term is by buying a target-date fund. For example, you might choose the Vanguard Target Retirement 2065 Fund (VLXVX) or the State Street Target Retirement 2070 Fund (SSGQX). These funds automatically adjust your allocations to stocks and bonds as you age. As you start to approach retirement, the percentage of your money in bonds starts to increase to preserve your capital. Right now, the Vanguard 2065 fund has 53.1% of its assets in the Vanguard Total Stock Market Index Fund, which is made up of US stocks; 37.5% of the fund is in the Vanguard Total International Stock Index Fund; 6.5% is in US bonds; and 2.9% is in international bonds. Expense ratios, or the fees that certain funds charge, are also something to keep in mind. The Vanguard Target Retirement funds, for example, have a fairly cheap expense ratio of 0.08% a year. The cheapest S&P 500 index fund is the Fidelity 500 Index Fund (FXAIX) at 0.015%. For your medium-term investments, you should assess your risk-tolerance and timeline. Stock valuations are high at the moment, which suggests average 10-year returns may not be great. So if you need the money in five-to-10 years, being fully in stocks might be the wrong approach. But if you feel you can have a longer timeline than that, Kuderna said investing in bluechip stock indexes like the S&P 500 is a good approach. If you want to be especially aggressive, you might consider investing heavily in tech stocks, he said. The sector is often riskier than other areas of the market, but has seen explosive growth over the last 15 years. Some funds that offer exposure to tech stocks include the Technology Select Sector SPDR Fund (XLK), the iShares US Technology ETF (IYW), and the Invesco NASDAQ 100 ETF (QQQM). "If you look at the greatest returns over a long period of time, it's in equities, it's people who have a higher risk appetite," Kuderna said. "If you've done those beginning steps of building a rainy day fund, setting money aside, not carrying any bad debt — if you're good there and we can afford ourselves a long-term time horizon, then we should try to almost encourage ourselves to be a little more aggressive."
Boston Globe
30-05-2025
- Business
- Boston Globe
John Donohue steps down from CEO role at Arbella
Today, Donohue estimates Arbella collects about $1.2 billion in premiums each year, across four New England states, compared with $200 million at its outset. Advertisement While Donohue chaired the Arbella board since the company's inception, he didn't step in as chief executive until 2001, taking over for Richard Brewer . Donohue says he's looking forward to focusing more on Arbella's foundation, which doles out $2.2 million a year to hundreds of organizations, and that he will be its chief executive, a part-time job. Donohue has confidence in Brady's leadership abilities after 12 years of working with him. Brady, who also has a decade of experience at Liberty Mutual, knows how the 1,100-person company is run and has built solid relationships with many of its outside agents. Arbella remains committed to its 'independent agent' model, despite the rise of direct, online insurance sales, in part because of the guidance the agents provide to customers. Advertisement For Donohue, the final months at Arbella have been a bittersweet time, without Bellotti, his mentor and friend. 'I would sit down and bounce ideas off him and talk strategy ... up until the end,' Donohue said. 'We got to work together for 44 years. ... We always said it was longer than most marriages.' Final piece for Fan Pier The Fallon Co. celebrated a topping-off ceremony for its 122-condo tower at Fan Pier on May 23. Photo courtesy of The Fallon Co. It all started with a helium balloon ride. Al Vaz , then the head of real estate at Vertex Pharmaceuticals , was visiting Fan Pier nearly two decades ago. At the time, the 21-acre site was not much more than a windswept stretch of parking lots. Developer Joe Fallon 's namesake firm used the balloon to show off its potential. Vaz, as Fallon recalls today, called Vertex's then-chief executive Josh Boger right away. Boger then visited the site and was smitten, too; he eventually inked a deal to bring the biotech and more than 1,000 of its employees to Fan Pier from Cambridge. The move in turn kicked off Fan Pier's redevelopment, jump-starting the Seaport's building boom. Last week, Fallon and colleagues joined the Iron Workers Local 7 and general contractor Turner Construction to help put the final piece of Fan Pier into place in a topping-off ceremony. They raised a steel girder to the top of the 14-story frame of what will be a 122-unit luxury condo project, dubbed 'One Harbor Shore.' ( Bank OZK provided financing last year, and MassMutual is Fallon's equity partner.) Advertisement When it opens in mid-2026, the building, designed by CBT Architects , will be among the first major privately developed structures in the city to rely almost entirely on electric heat. (Gas fired boilers will kick in when temps get close to zero degrees Fahrenheit.) Fan Pier now includes the two Vertex towers, the One Marina Park Drive tower where Fallon's company is located, as well as office buildings for MassMutual and Goodwin . Plus: more than 200 luxury waterfront condos at 22 and 50 Liberty. The Collaborative Companies will start marketing the units at One Harbor Shore in the coming weeks. 'We're proud of what we have, and we're proud of what it did for the city,' Fallon said. 'This site really became the catalyst for the whole Seaport.' Banking on Boston's Pride The scene at the Boston Pride for the People parade and festival last year. Craig F. Walker/Globe Staff Pride parades from Not in Boston. One of the leaders hosting Boston's Pride parade and festival to celebrate the region's LGBTQ+ community said fund-raising is now on a similar pace to last year, when around $700,000 was raised. So far, the total is in the $600,000 range, with more expected as the June 14 date approaches. Gary Daffin , of Boston Pride for the People's executive committee, says nearly half of that amount last year came from corporate sponsorships, and nearly half came from registration fees. (The group is affiliated with the Advertisement Daffin expects a similar budget this time around. So far, big sponsors are back — a list that includes Delta Air Lines , MFS Investment Management , the Boston Foundation , Beth Israel Lahey Health , Eastern Bank , MassMutual , Rockland Trust , Dana-Farber Cancer Institute , Eversource , and National Grid . Big-ticket corporate sponsorships range from $10,000 to $50,000. He said a few previous sponsors have not yet committed, but they're not among the big contributors. Daffin said the organizers had been concerned that fund-raising could take a hit because of economic uncertainties and the anti-DEI rhetoric in Washington. 'There was a fear that people were not going to reply to our requests,' Daffin said. 'But almost everyone who was there last year is back. ... It's a relief, though we still need a little bit more money. We're not there yet.' US Chamber to Boston: Be more welcoming Greater Boston Chamber of Commerce chief executive Jim Rooney chatted with US Chamber chief executive Suzanne Clark at the Boston Chamber's annual meeting. Photo courtesy of the Greater Boston Chamber US Chamber of Commerce chief executive Suzanne Clark has some advice for Boston's business leaders: Don't be afraid to be more welcoming to outsiders, particularly those with a different viewpoint. The suggestion emerged after Clark's speech at the Greater Boston Chamber of Commerce 's annual meeting, which drew around 1,400 people to the Omni Hotel in the Seaport last week. Greater Boston Chamber chief executive Jim Rooney asked Clark to talk about how Boston and Massachusetts are viewed around the country in terms of competitiveness and business friendliness. Clark, whose group is more conservative than the Boston chamber, had many good things to say about Boston, praising everything from Fenway Park to the local innovation ecosystem. But her answer to Rooney's question prompted one of the evening's few unscripted moments. 'I would say that it's almost all positive,' Clark said. '[But] there is something going on right now where you have to decide what inclusive means to you, you know? Does diversity include conservative thought? Because there are a lot of people in this country who aren't sure, right? There's a lot of conversation about: Would I be welcome in Boston? Would I be welcome at some of the elite institutions? Would my viewpoint be welcome?' Advertisement On taxes and deregulation, the US Chamber is in strong alignment with President Trump. But they differ on tariffs, and the chamber recently sent a request to the Trump administration asking for exemptions for small businesses. Mostly, in her chamber speech, Clark made the case for stoking economic growth, saying that while it can't solve all of the nation's problems, it's tough to solve many of them without that growth. The chamber also honored its latest set of 'Distinguished Bostonians' for contributing to Boston's economic and social fabric. Honorees included Jane Steinmetz of Ernst & Young , Michael Curry of the Massachusetts League of Community Health Centers , and Anne Klibanski of Mass General Brigham . The chamber's previous board chairs, along with current chair Corey Thomas , feted Rooney with a video for his 10 years as chief executive. And Governor Maura Healey bounded up on stage to provide some encouragement to the business leaders while also making the case why she should be elected again in 2026. 'In a time of crisis, use it as an opportunity,' Healey said. 'We proved that 250 years ago when shots rang out by a bridge in Concord and a green in Lexington. That's Massachusetts. That's in our DNA. ... We're going to get through this and we're going to be stronger for it.' Advertisement Jon Chesto can be reached at
Boston Globe
24-05-2025
- Business
- Boston Globe
Final piece of Fan Pier put in place with luxury condo tower topping-off
Advertisement On Friday, Fallon and colleagues joined the Iron Workers Local 7 and general contractor Turner Construction to help put the final piece of Fan Pier into place in a topping-off ceremony. They raised a steel girder to the top of the 14-story frame of what will be a 122-unit luxury condo project, dubbed 'One Harbor Shore.' It's one of the few active construction sites with crane activity in Boston right now, amid the construction sector's doldrums. (Bank OZK provided financing last year, and MassMutual is Fallon's equity partner.) The Fallon Co. celebrated a topping-off ceremony of its 122-condo project at Fan Pier on May 23. The Fallon Co When it opens in mid-2026, the building, designed by CBT Architects, will be notable for another reason: It will be among the first major privately developed structures in the city to rely almost entirely on electric heat. (Gas-fired boilers will kick in for heat only when the temps get close to or below zero degrees Fahrenheit.) The developer says the building will easily exceed the city's new stringent energy codes. Advertisement For Fallon and his firm, the building also represents the final chapter in the Fan Pier development saga. The Fallon Company is now putting most of its attention outside of its home city for growth, such as with a sprawling After a few starts and stops, Fallon says it's satisfying to see the end in sight. Fan Pier now includes the two Vertex towers, the One Marina Park Drive tower where his company is located, as well as office buildings for MassMutual and Goodwin. Plus: more than 200 luxury waterfront condos at 22 and 50 Liberty — and now The Collaborative Companies will start marketing the units at One Harbor Shore in the coming weeks. People who haven't been to this part of Boston recently tell Fallon they can't believe the amount of change that's taken place. And it all began with that fortuitous balloon ride. 'We're proud of what we have, and we're proud of what it did for the city,' Fallon said. 'This site really became the catalyst for the whole Seaport.' Jon Chesto can be reached at
