Press and News http://pressnews.com Fri, 29 May 2015 21:04:51 +0000 en-US hourly 1 Talking $ Before Saying ‘I Do’ http://pressnews.com/2015/05/29/talking-before-saying-i-do/ http://pressnews.com/2015/05/29/talking-before-saying-i-do/#comments Fri, 29 May 2015 20:01:30 +0000 http://pressnews.com/?guid=22855b3d4d723f0dcd555ef5c3f2ab1e Weddings are a cornerstone of American culture. As with many cornerstones, the cost continues to rise. So does the price of not finding out beforehand how your betrothed feels about money.

Nuptials steadily become more complex and expensive: odd-shaped invitations that take $2 postage stamps; different brides’ dresses for the ceremony, the reception and the after-party; or waterfall decorations. Couples even hire photographers with aerial drones to capture overhead shots.

Dresses, decorations and drones add up. According to the latest annual Real Weddings Study, the average cost of a wedding in the U.S. now tops $31,000.

To put that into context, the median American household income is about $52,250. In 2014, 45% of couples went over budget on their ceremony, according to the Real Weddings Study. Only 6% of couples spent less than planned and almost a quarter (23%) didn’t even set a wedding budget.

(On average, the bride’s parents contribute 43%, the bride and groom 43%, and the groom’s parents 12% of the total wedding budget, according to the study, which adds that only 12% of couples pay for the wedding themselves.)

How many brides and grooms really talk about finances before or even when planning the big day? You don’t want to spend the next 10 years paying for one blow-out weekend. I’m a huge believer in actually discussing money well before the wedding.

Starting this discussion early sets an important foundation for your financial future together; planning the financial aspects of a major ceremony makes a perfect catalyst.

Why ruin a happy time with money talk? Possibly to head off an unhappy time later: Couples who “disagree about finances once a week” are over 30% more likely to get divorced than couples that report “disagreeing about finances a few times a month,” according to a 2009 study examining finances and divorce from Utah State University. 

First, analyzing your combined financial picture helps you guarantee that your wedding budget aligns with your intermediate and long-term money goals such as paying off credit card debt and student loans, buying a home, relocating for work and having children, among others.

Sit down and ask each other:

  • Are you a saver or a spender?
  • What are your financial goals, and are there any goals you think we should accomplish together?
  • Do you want children? How many?
  • What are your career goals?
  • Do you already save for retirement?

Also ask if your intended knows his or her credit score, whether you two ought to combine bank accounts and how you will budget your money once married.

While these questions sound unrelated to a wedding budget, they do give both of you a better understanding of your mutual financial future. You can then create your actual wedding budget based on your clear and current financial situation and your future goals.

Listen to the answers without judgment. This fact-building exercise helps you understand the other person’s financial habits – and with luck will lead to many years’ healthy, ongoing dialog about your joint finances.

There’s no wrong amount of money to spend on a wedding. There is a right way to approach handling your money together long after the party ends.

Follow AdviceIQ on Twitter at @adviceiq

Wes Moss, CFP, is the chief investment strategist for Capital Investment Advisors and a partner at Wela, both in Atlanta. He hosts “Money Matters,” a live financial advice show on Atlanta’s News 95-5 and AM 750 WSB Radio. In 2014 Barron’s Magazine named him as one of America’s top 1,200 Financial Advisors. His newly released book, You Can Retire Sooner Than You Think published by McGraw Hill, is available on Amazon, iTunes and at your local bookstore.

Wes writes weekly about personal finance in the “Bargain Hunter Section” for AJC.com, the site of The Atlanta Journal-Constitution. Wes is also the editor and writer for About.com’s Personal Finance blog. Connect with Wes on Twitter at @WesMoss365 and on Facebook at Wes Moss Money Matters. You can also visit his website, WesMoss.com to learn more about Wes, and take his complimentary Money and Happiness Quiz.

AdviceIQ delivers quality personal finance articles by both financial advisors and AdviceIQ editors. It ranks advisors in your area by specialty, including small businesses, doctors and clients of modest means, for example. Those with the biggest number of clients in a given specialty rank the highest. AdviceIQ also vets ranked advisors so only those with pristine regulatory histories can participate. AdviceIQ was launched Jan. 9, 2012, by veteran Wall Street executives, editors and technologists. Right now, investors may see many advisor rankings, although in some areas only a few are ranked. Check back often as thousands of advisors are undergoing AdviceIQ screening. New advisors appear in rankings daily.

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Weddings are a cornerstone of American culture. As with many cornerstones, the cost continues to rise. So does the price of not finding out beforehand how your betrothed feels about money.

Nuptials steadily become more complex and expensive: odd-shaped invitations that take $2 postage stamps; different brides’ dresses for the ceremony, the reception and the after-party; or waterfall decorations. Couples even hire photographers with aerial drones to capture overhead shots.

Dresses, decorations and drones add up. According to the latest annual Real Weddings Study, the average cost of a wedding in the U.S. now tops $31,000.

To put that into context, the median American household income is about $52,250. In 2014, 45% of couples went over budget on their ceremony, according to the Real Weddings Study. Only 6% of couples spent less than planned and almost a quarter (23%) didn’t even set a wedding budget.

(On average, the bride’s parents contribute 43%, the bride and groom 43%, and the groom’s parents 12% of the total wedding budget, according to the study, which adds that only 12% of couples pay for the wedding themselves.)

How many brides and grooms really talk about finances before or even when planning the big day? You don’t want to spend the next 10 years paying for one blow-out weekend. I’m a huge believer in actually discussing money well before the wedding.

Starting this discussion early sets an important foundation for your financial future together; planning the financial aspects of a major ceremony makes a perfect catalyst.

Why ruin a happy time with money talk? Possibly to head off an unhappy time later: Couples who “disagree about finances once a week” are over 30% more likely to get divorced than couples that report “disagreeing about finances a few times a month,” according to a 2009 study examining finances and divorce from Utah State University. 

First, analyzing your combined financial picture helps you guarantee that your wedding budget aligns with your intermediate and long-term money goals such as paying off credit card debt and student loans, buying a home, relocating for work and having children, among others.

Sit down and ask each other:

  • Are you a saver or a spender?
  • What are your financial goals, and are there any goals you think we should accomplish together?
  • Do you want children? How many?
  • What are your career goals?
  • Do you already save for retirement?

Also ask if your intended knows his or her credit score, whether you two ought to combine bank accounts and how you will budget your money once married.

While these questions sound unrelated to a wedding budget, they do give both of you a better understanding of your mutual financial future. You can then create your actual wedding budget based on your clear and current financial situation and your future goals.

Listen to the answers without judgment. This fact-building exercise helps you understand the other person’s financial habits – and with luck will lead to many years’ healthy, ongoing dialog about your joint finances.

There’s no wrong amount of money to spend on a wedding. There is a right way to approach handling your money together long after the party ends.

Follow AdviceIQ on Twitter at @adviceiq

Wes Moss, CFP, is the chief investment strategist for Capital Investment Advisors and a partner at Wela, both in Atlanta. He hosts “Money Matters,” a live financial advice show on Atlanta’s News 95-5 and AM 750 WSB Radio. In 2014 Barron’s Magazine named him as one of America’s top 1,200 Financial Advisors. His newly released book, You Can Retire Sooner Than You Think published by McGraw Hill, is available on Amazon, iTunes and at your local bookstore.

Wes writes weekly about personal finance in the “Bargain Hunter Section” for AJC.com, the site of The Atlanta Journal-Constitution. Wes is also the editor and writer for About.com’s Personal Finance blog. Connect with Wes on Twitter at @WesMoss365 and on Facebook at Wes Moss Money Matters. You can also visit his website, WesMoss.com to learn more about Wes, and take his complimentary Money and Happiness Quiz.

AdviceIQ delivers quality personal finance articles by both financial advisors and AdviceIQ editors. It ranks advisors in your area by specialty, including small businesses, doctors and clients of modest means, for example. Those with the biggest number of clients in a given specialty rank the highest. AdviceIQ also vets ranked advisors so only those with pristine regulatory histories can participate. AdviceIQ was launched Jan. 9, 2012, by veteran Wall Street executives, editors and technologists. Right now, investors may see many advisor rankings, although in some areas only a few are ranked. Check back often as thousands of advisors are undergoing AdviceIQ screening. New advisors appear in rankings daily.

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Last, not least at Big Woods http://pressnews.com/2015/05/29/last-not-least-at-big-woods/ http://pressnews.com/2015/05/29/last-not-least-at-big-woods/#comments Fri, 29 May 2015 17:57:18 +0000 http://pressnews.com/?p=140455 The last students of the month for the 2014-15 school year have been named at Big Woods Elementary School. They include front row, left to right, Carter Loebertmann, Isabella Stinar, Cole Peterson and Jessa Beckers. Back row: Ryan Volkmann, Dawsen Whiteis, Ellie Olson and Logan Warner.

The last students of the month for the 2014-15 school year have been named at Big Woods Elementary School. They include front row, left to right, Carter Loebertmann, Isabella Stinar, Cole Peterson and Jessa Beckers. Back row: Ryan Volkmann, Dawsen Whiteis, Ellie Olson and Logan Warner.

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Book donation part of larger effort to increase well-being at child cares http://pressnews.com/2015/05/29/book-donation-part-of-larger-effort-to-increase-well-being-at-child-cares/ http://pressnews.com/2015/05/29/book-donation-part-of-larger-effort-to-increase-well-being-at-child-cares/#comments Fri, 29 May 2015 17:48:17 +0000 http://pressnews.com/?p=140452 Small summer readers will have more choices at their local library thanks to Wright County Public Health. Using Statewide Health Improvement Program grant funds, the county health organization donated dozens of children’s books to Great River Regional Library last Thursday.

Aimed at very young readers, the collection includes popular titles such as “Barnyard Dance,” about a farm animal hoedown, and “How are You Peeling?” with whimsical fruits and vegetables exhibiting their “natural personalities.” The stories promote healthy eating or staying active.

“It really promotes fresh fruits and vegetables, in the healthy eating area, and promotes physical activity in fun story format,” said Susan DeMars, Health Promotion Coordinator for Wright County Public Health.

Susan DeMars, left, Health Promotion Coordinator for Wright County Public Health, presents Great River Regional Librarian Amy Wittmann with several titles as part of a donation supporting healthy eating and physical activity.

Susan DeMars, left, Health Promotion Coordinator for Wright County Public Health, presents Great River Regional Librarian Amy Wittmann with several titles as part of a donation supporting healthy eating and physical activity.

The books, funded by a grant from the Statewide Health Improvement Program (SHIP), will be housed at the Howard Lake and Buffalo libraries.

WCPH’s donation is part of a larger initiative promoting well-being in the child care setting. Susan has been working directly with Wright County child care providers for more than a year, offering free or low-cost trainings as well as technical assistance and funding to implement policies on physical activity, healthy eating and supporting breastfeeding.

The “I am Moving, I am Learning” curriculum promotes moderate to vigorous physical activity with brain development in mind.

“Instead of just letting kids go out and play free, it’s organized activities to help kids develop their motor skills, things like throwing and skipping,” DeMars said.

More than 60 area providers have participated in the IMIL training. Another 79 have participated in the training “Supporting Breastfeeding in the Child Care Setting”.

“The books we’ve donated are meant to help child care providers extend their new knowledge, and they’ll be a fun resource for parents and others in the community too,” DeMars said.

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Rockford hosts annual Spring Jazz Concert http://pressnews.com/2015/05/29/rockford-hosts-annual-spring-jazz-concert/ http://pressnews.com/2015/05/29/rockford-hosts-annual-spring-jazz-concert/#comments Fri, 29 May 2015 17:45:06 +0000 http://pressnews.com/?p=140448 The 34th Infantry Jazz Combo plays at Rockford’s annual Spring Jazz Concert.

The 34th Infantry Jazz Combo plays at Rockford’s annual Spring Jazz Concert.

On Thursday, May 21, Rockford Public Schools held its annual Spring Jazz Concert. The concert included performances by the Middle School Jazz Band, the High School Jazz Band, and the 34th Infantry Concert Band Jazz Combo.

The concert began with 3 charts by the Middle School Jazz Band. The Middle School and High School Jazz Band combined for one piece.

The 34th Infantry Jazz Combo was next on stage and performed three charts.

The High School Jazz Band played its set of 6 charts, including its final selection which included members of the 34th Infantry Jazz Combo.

Rockford students perform at their annual spring jazz concert.

Rockford students perform at their annual spring jazz concert.

The High School Jazz Band also took a trip to the University of Minnesota, Morris this year participating in their annual Jazz Festival on Saturday, April 11. The High School Jazz Band was also fortunate enough to earn a “Superior Rating” at contests this year at Annandale High School.

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I-94 West Chamber announces First Responders awards http://pressnews.com/2015/05/29/i-94-west-chamber-announces-first-responders-awards-2/ http://pressnews.com/2015/05/29/i-94-west-chamber-announces-first-responders-awards-2/#comments Fri, 29 May 2015 17:36:28 +0000 http://pressnews.com/?p=140436 The I-94 West Chamber of Commerce has announced the recipients of the Second Annual First Responders Luncheon Wednesday, May 13, from 11:30 a.m. to 1:30 p.m. at the Medina Entertainment Center on Hwy. 55 in Medina, and will feature a keynote address from Mona Dohman, Commissioner of the Minnesota Department of Public Safety.

In addition, former Edina police officer Mike Blood will speak and Miss Minnesota Savannah Cole will sing the national anthem.

The First Responders Luncheon is an event that honors and recognizes police officers, firefighters, EMS personnel, and other individuals in the I-94 West region who have provided exceptional response in an emergency situation. First Responders from the member cities of Albertville, Corcoran, Dayton, Hamel, Loretto, Medina, Otsego, Rogers, and St. Michael, as well as First Responders from neighboring cities Elk River and Plymouth, will be recognized at the event.

This year’s award recipients are: Dan Balder, Dayton Fire Department; Officer Amy Berglund, Rogers Police Department;

Sgt. Darren Bohlsen, Rogers Police Department; Deputy Brett Bukkila, Hennepin County Sheriff’s Office; Lt. Ryan Burns, Corcoran Police Department; Calvin Castonguay, Loretto Fire Department; Officer Keith Converse, Medina Police Department; Ron Converse, Citizen; Chief John Cunningham, Elk River Fire Department; Asst. Chief Gordy Dehmer, St. Michael Fire Department; Chief Brad Feist, Rogers Fire Department; Officer Kris Koroll, Rogers Police Department; Officer Steve Larson, Plymouth Police Department; Jake Leuer, Loretto Fire Department; Asst. Chief Tate Mills, Albertville Fire Department; Sgt. Jason Nelson, Medina Police Department; Scott Pivec, Loretto Fire Department; Kyle Roers, Hamel Fire Department; and Capt. Terry Ryan, Loretto Fire Department.

Fifty percent of the event’s net proceeds will benefit two charitable organizations, the Minnesota Law Enforcement Memorial Association and the Minnesota Fallen Firefighters Memorial Association. The event is in partnership with Memorial Blood Centers and the Battle of the Badges Blood Drives, scheduled for late summer.

Cost to attend is $40 per person before May 8 and $55 after May 8. Tickets will be available at the door, but registration is highly recommended. More information about the event, including how to register, can be found at the Chamber’s website, www.i94westchamber.org, or by calling 763-428-2921.

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Rogers teen works toward Eagle Scout with picnic table project for CROSS http://pressnews.com/2015/05/29/rogers-teen-works-toward-eagle-scout-with-picnic-table-project-for-cross/ http://pressnews.com/2015/05/29/rogers-teen-works-toward-eagle-scout-with-picnic-table-project-for-cross/#comments Fri, 29 May 2015 17:23:25 +0000 http://pressnews.com/?p=140476 After six months of project leadership and work, Rogers Boy Scout Jake Ryan donated three handmade picnic tables to CROSS in April.

Jake, a 10th grader at Rogers High School, is on his way toward becoming an Eagle Scout and decided to choose CROSS for his project.

“I’ve volunteered here [CROSS] a few times and thought it would be a great way to help,” Jake said.

“We had picnic tables on our ‘wish list’ for volunteers and groups to use for relaxing outside during the warmer months,” CROSS Volunteer and Community Outreach Director Stephanie Lehman said. “We were so excited when Jake was approved to do this for his Eagle Scout project!”

Rogers Boy Scout Jake Ryan, along with Assistant Scoutmaster and Eagle Advisor John Pawlowski, show a picnic table created for CROSS as part of Jake’s Eagle Scout project.

Rogers Boy Scout Jake Ryan, along with Assistant Scoutmaster and Eagle Advisor John Pawlowski, show a picnic table created for CROSS as part of Jake’s Eagle Scout project.

The project started with research, determining how to create the tables, and coordinating creation of the tables. Part of his process included a presentation for the Rogers Lions, which funded the project.

“It’s about showing leadership,” Assistant Scoutmaster and mother Julie Ryan said. “It was a great learning experience. I’m pretty proud of him!”

Although the picnic tables have been completed, Jake is continuing on his journey to become an Eagle Scout as he finishes the approval process. Achieving the rank of Eagle Scout is the highest achievement in boy scouting, according to the Boy Scouts of America.

“We are fortunate Jake picked CROSS for his Eagle Scout project,” Lehman said, “and what a great youth leader of our community to work with!”

Located in Rogers, CROSS is a non-profit organization serving families and individuals living in Rogers, Maple Grove, Osseo, Champlin (West), Corcoran, and Dayton. For more information, visit CROSSservices.org or call 763-425-1050.

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Helping Those Left Behind http://pressnews.com/2015/05/29/helping-those-left-behind/ http://pressnews.com/2015/05/29/helping-those-left-behind/#comments Fri, 29 May 2015 17:00:49 +0000 http://pressnews.com/?guid=a66898b2cb27bad3c9cd4fec80f97ea7 “There is no knowledge so hard to acquire,” said French Renaissance writer Michel de Montaigne, “as the knowledge of how to live this life well and naturally.” My dad, Robert J. Crimmins, died early this year after an extraordinary life, touching all who connected with him in his personal and professional paths. One of his many major important achievements: What he accomplished financially for my mom, his surviving spouse.

His high school’s summary of his life shows how much my father accomplished: class of 1956 from St. Francis Prep in Queens, N.Y.; member of the school’s Hall of Fame; involved fundraiser for the school and trustee and board member of numerous hospitals, charities and his own alma mater, St. John’s University; honored with my mom at the St. Francis annual Golf Classic Dinner.

In a 40-year career with Metropolitan Life, he was involved in some of the company’s signature strategies, including the “Snoopy Blimp” bearing the MetLife logo high above numerous sporting and other venues all over the country.

He and my mom met on the outdoor basketball courts at Public School in Brooklyn while both were in high school. They celebrated their 50th wedding anniversary last fall.

My dad did acquire the knowledge of how to live life well, and he lived it naturally. Fortunately he passed this knowledge to his family – and dad’s last actions for my mom can be a wake-up for all men born in the 1930s and 1940s.

With many couples of this generation, wives play no active role in financial affairs. Not so my parents. My father made sure my mom knew exactly what would happen after he died and that she had the wherewithal to maintain her lifestyle.

Too often the loss of a husband simply gives way to a different pain: uncertainty and fear over how a widow will generate income for the rest of her life. Even more importantly, if the widow had no relationship with a financial advisor, she’s often uncomfortable dealing with this professional. Lack of trust becomes a major issue.

Both you and your spouse must be aware of your financial plan, as well as be comfortable with your financial advisor. In our practice, for instance, we often insist on immediately meeting both members of a couple to determine what each hopes regarding money and to bring our insights to bear on how to make those hopes real.

We view the partnership as being with both partners to ensure that trust and involvement develop over time. Then when one life ends, no one need be scared about maintaining a lifestyle alone.

I’ve written about the aging brain and the difficulty of spotting financial predators who smell blood after a senior’s personal tragedy. Provide your spouse an enormous benefit: help him or her to become comfortable with your advisor, to learn your family financial plan and the why and how behind your money decisions.

Help your spouse know what happens when one of you dies. A big thanks to my dad for taking such good care of my mom, then and now.

Follow AdviceIQ on Twitter at @adviceiq.

Dan Crimmins is the co-founder of Crimmins Wealth Management LLC in Woodcliff Lake, N.J. His blog is Roots of Wealth.

AdviceIQ delivers quality personal finance articles by both financial advisors and AdviceIQ editors. It ranks advisors in your area by specialty, including small businesses, doctors and clients of modest means, for example. Those with the biggest number of clients in a given specialty rank the highest. AdviceIQ also vets ranked advisors so only those with pristine regulatory histories can participate. AdviceIQ was launched Jan. 9, 2012, by veteran Wall Street executives, editors and technologists. Right now, investors may see many advisor rankings, although in some areas only a few are ranked. Check back often as thousands of advisors are undergoing AdviceIQ screening. New advisors appear in rankings daily.

 

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“There is no knowledge so hard to acquire,” said French Renaissance writer Michel de Montaigne, “as the knowledge of how to live this life well and naturally.” My dad, Robert J. Crimmins, died early this year after an extraordinary life, touching all who connected with him in his personal and professional paths. One of his many major important achievements: What he accomplished financially for my mom, his surviving spouse.

His high school’s summary of his life shows how much my father accomplished: class of 1956 from St. Francis Prep in Queens, N.Y.; member of the school’s Hall of Fame; involved fundraiser for the school and trustee and board member of numerous hospitals, charities and his own alma mater, St. John’s University; honored with my mom at the St. Francis annual Golf Classic Dinner.

In a 40-year career with Metropolitan Life, he was involved in some of the company’s signature strategies, including the “Snoopy Blimp” bearing the MetLife logo high above numerous sporting and other venues all over the country.

He and my mom met on the outdoor basketball courts at Public School in Brooklyn while both were in high school. They celebrated their 50th wedding anniversary last fall.

My dad did acquire the knowledge of how to live life well, and he lived it naturally. Fortunately he passed this knowledge to his family – and dad’s last actions for my mom can be a wake-up for all men born in the 1930s and 1940s.

With many couples of this generation, wives play no active role in financial affairs. Not so my parents. My father made sure my mom knew exactly what would happen after he died and that she had the wherewithal to maintain her lifestyle.

Too often the loss of a husband simply gives way to a different pain: uncertainty and fear over how a widow will generate income for the rest of her life. Even more importantly, if the widow had no relationship with a financial advisor, she’s often uncomfortable dealing with this professional. Lack of trust becomes a major issue.

Both you and your spouse must be aware of your financial plan, as well as be comfortable with your financial advisor. In our practice, for instance, we often insist on immediately meeting both members of a couple to determine what each hopes regarding money and to bring our insights to bear on how to make those hopes real.

We view the partnership as being with both partners to ensure that trust and involvement develop over time. Then when one life ends, no one need be scared about maintaining a lifestyle alone.

I’ve written about the aging brain and the difficulty of spotting financial predators who smell blood after a senior’s personal tragedy. Provide your spouse an enormous benefit: help him or her to become comfortable with your advisor, to learn your family financial plan and the why and how behind your money decisions.

Help your spouse know what happens when one of you dies. A big thanks to my dad for taking such good care of my mom, then and now.

Follow AdviceIQ on Twitter at @adviceiq.

Dan Crimmins is the co-founder of Crimmins Wealth Management LLC in Woodcliff Lake, N.J. His blog is Roots of Wealth.

AdviceIQ delivers quality personal finance articles by both financial advisors and AdviceIQ editors. It ranks advisors in your area by specialty, including small businesses, doctors and clients of modest means, for example. Those with the biggest number of clients in a given specialty rank the highest. AdviceIQ also vets ranked advisors so only those with pristine regulatory histories can participate. AdviceIQ was launched Jan. 9, 2012, by veteran Wall Street executives, editors and technologists. Right now, investors may see many advisor rankings, although in some areas only a few are ranked. Check back often as thousands of advisors are undergoing AdviceIQ screening. New advisors appear in rankings daily.

 

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STMA recognized as ‘Best High School’ http://pressnews.com/2015/05/29/stma-recognized-as-best-high-school/ http://pressnews.com/2015/05/29/stma-recognized-as-best-high-school/#comments Fri, 29 May 2015 16:06:41 +0000 http://pressnews.com/?p=140471 STMAhsSt. Michael-Albertville High School has been recognized by U.S. News & World Report as one of the nation’s “Best High Schools” in U.S. News Best High Schools 2015 rankings.

STMA earned the bronze medal in the award program based upon the school’s students performing better than statistically expected for students in the state and disadvantage students outperforming disadvantaged students in the state in math and reading proficiency.  Schools were also ranked on college-readiness performance.

The U.S. News rankings included data from the 2012-13 school year on more than 21,000 public high schools in 50 states and the District of Columbia.

Rankings are based upon two key principals: a great high school must serve all of its students well, not just those who are college bound, and that it must be able to produce measurable academic outcomes to show it is successfully educating its student body across a range of performance indicators.

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Rogers High School Principal among Dist. 728 retirees http://pressnews.com/2015/05/29/rogers-high-school-principal-among-dist-728-retirees/ http://pressnews.com/2015/05/29/rogers-high-school-principal-among-dist-728-retirees/#comments Fri, 29 May 2015 14:00:51 +0000 http://pressnews.com/?p=140434 By Jim Boyle
ECM Publishers

The Elk River Area School District recognized 40 retirees at a May 18 ceremony at Hassan Elementary School, including Rogers High School Principal Roman Pierskalla.

Elk River Area School Board Chairwoman Jane Bunting and Supt. Mark Bezek welcomed them to the event and handed out recognition certificates.

Among the retirees honored was curriculum specialist Stephen Schroeder-Davis, who logged more than 40 years of service with the Elk River Area School District.

Bezek noted at the ceremony that a lot has changed in 40-plus years. He said Schroeder-Davis started around the time Gerald Ford became president, having replaced Richard Nixon after Watergate. The Vietnam War ended. Bill Gates and Paul Allen developed a BASIC program for the Altair 8800, a computer that was released later that year. Motorola patented the first mobile phone.

“A new house cost $48,000, a gallon of gas was 57 cents, a stamp cost 10 cents and the average household income was $14,000,” Bezek said.

Eight people honored have 30 or more years of service to the school district. There were another 19 retirees were honored for more than 20 years of service.

“All of you, regardless of the title you held, have changed lives,” Bezek said. “You have educated, inspired and empowered thousands of young people, and they are in the world today doing important jobs, raising families of their own and living lives of purpose and joy due, in some measure, to you and your efforts. Take that to heart and know that you mattered.”

District and Rogers-related retirements include:
• Mary E. Alberts, teacher and districtwide curriculum specialist
• Sallie G. Benson, teacher of deaf and hard of hearing students districtwide, 24 years
• Kathleen Blesener, screening interviewer for District 728 Community Education, 24 years
• Lynn M. Eggert, technology assistant, Rogers High School, 24 years
• Larry I. Fehr, custodian, Rogers High School, 21 years
• Colleen M. Kill, media assistant, Rogers High School, 22 years
• Lucy C. Markfort, teacher of children with specific learning disabilities, Rogers High School, 34 years
• Deborah H. Pace, third-grader teacher, Hassan Elementary School, 28 years
• Roman J. Pierskalla, principal, Rogers High School, 10 years
• Vicki M. Roberts, third-grade teacher, Hassan Elementary School, 34 years
• Susan E. Sacquitne, third-grade teacher, Rogers Elementary School, 28 years
• Stephen J. Schroeder-Davis, teacher and districtwide curriculum specialist, District Office, 42 years
• Sharon K. Wagner, teacher and music teacher, Rogers Elementary School, 36 years
• Gail A. Weber, teacher, Rogers High School, 25 years

Dist. 728 Supt. Mark Bezek, right, hands a certificate to Roman Pierskalla, who is retiring after 10 years as the principal of Rogers High School.

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Why Volatility Isn’t So Bad http://pressnews.com/2015/05/29/why-volatility-isnt-so-bad/ http://pressnews.com/2015/05/29/why-volatility-isnt-so-bad/#comments Fri, 29 May 2015 13:01:27 +0000 http://pressnews.com/?guid=6873344c32fa4bed49c4c97e8cba935f Nervous retirees often worry that they might lose everything in a volatile market. Yes, if you only own one stock, you could lose it all. But if your portfolio is diversified, the majority of it remains stable like the water beneath the waves.

Market volatility is not as scary as you might think. First of all, younger retirees may have a higher percentage of equity (stocks) in their retirement income portfolio, but as they age, it shallows out. The volatile part of the portfolio from stocks decreases, while the more stable part of the portfolio from bonds increases.

Thus the visual may look like the above picture of the ocean bottom where the blue represents stock index funds and the black represents short-term bond index funds.

Also, not all of one’s portfolio is subject to volatility. Let me explain using ocean waves to represent a portfolio.

The ocean is your properly structured portfolio. In this metaphor, deep water represents younger retirees who have more time remaining before they reach shore.

Take a closer look at the exposure to volatility, the wave action. Looking at just the surface, investors might see a lot of turbulence. Yet below the wave height line, much of the water is undisturbed. The ups and downs of the markets don’t affect most of the portfolio value.

What is the wave height of a portfolio? In other words, how far down may a portfolio value drop? We can calculate the possible loss on a portfolio with its standard deviation, a measurement of historical volatility.

As a statistical rule, future returns fall within one standard deviation 68% of the time, two deviations 95% of the time and three deviations 99.7% of the time. Here is an example:

A portfolio has $100,000 in value (75% short-term bonds, 25% stocks) and a 6.29% standard deviation.

Most of the time (more precisely, 68% of the time), the portfolio likely will go up 6.29%, down 6.29% or any point in between. It means at least $93,710 ($100,000 minus 6.29% of $100,000) of the portfolio is unaffected. And 95% of the time, $87,420 of the portfolio value is intact. The waves might go down three standard deviations, 18.87%; still, $81,130 of the portfolio is fine.

Most of the time, the effect of market storms is shallow, although there are times when they stir deeper, the financial crisis of 2008, for example.

Retirees can survive market volatility because not the entire portfolio is at risk of loss during a down market, that is, if it is properly diversified.

Follow AdviceIQ on Twitter at @adviceiq.

Larry R. Frank Sr., CFP, is a Registered Investment Adviser (California) in Roseville, Calif. He is the author of the book, Wealth Odyssey. He has an MBA with a finance concentration and B.S. cum laude in physics with which he views the world of money dynamically. He has peer-reviewed research published in the Journal of Financial Planning. http://blog.betterfinancialeducation.com/.

AdviceIQ delivers quality personal finance articles by both financial advisors and AdviceIQ editors. It ranks advisors in your area by specialty, including small businesses, doctors and clients of modest means, for example. Those with the biggest number of clients in a given specialty rank the highest. AdviceIQ also vets ranked advisors so only those with pristine regulatory histories can participate. AdviceIQ was launched Jan. 9, 2012, by veteran Wall Street executives, editors and technologists. Right now, investors may see many advisor rankings, although in some areas only a few are ranked. Check back often as thousands of advisors are undergoing AdviceIQ screening. New advisors appear in rankings daily.

 

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Nervous retirees often worry that they might lose everything in a volatile market. Yes, if you only own one stock, you could lose it all. But if your portfolio is diversified, the majority of it remains stable like the water beneath the waves.

Market volatility is not as scary as you might think. First of all, younger retirees may have a higher percentage of equity (stocks) in their retirement income portfolio, but as they age, it shallows out. The volatile part of the portfolio from stocks decreases, while the more stable part of the portfolio from bonds increases.

Thus the visual may look like the above picture of the ocean bottom where the blue represents stock index funds and the black represents short-term bond index funds.

Also, not all of one’s portfolio is subject to volatility. Let me explain using ocean waves to represent a portfolio.

The ocean is your properly structured portfolio. In this metaphor, deep water represents younger retirees who have more time remaining before they reach shore.

Take a closer look at the exposure to volatility, the wave action. Looking at just the surface, investors might see a lot of turbulence. Yet below the wave height line, much of the water is undisturbed. The ups and downs of the markets don’t affect most of the portfolio value.

What is the wave height of a portfolio? In other words, how far down may a portfolio value drop? We can calculate the possible loss on a portfolio with its standard deviation, a measurement of historical volatility.

As a statistical rule, future returns fall within one standard deviation 68% of the time, two deviations 95% of the time and three deviations 99.7% of the time. Here is an example:

A portfolio has $100,000 in value (75% short-term bonds, 25% stocks) and a 6.29% standard deviation.

Most of the time (more precisely, 68% of the time), the portfolio likely will go up 6.29%, down 6.29% or any point in between. It means at least $93,710 ($100,000 minus 6.29% of $100,000) of the portfolio is unaffected. And 95% of the time, $87,420 of the portfolio value is intact. The waves might go down three standard deviations, 18.87%; still, $81,130 of the portfolio is fine.

Most of the time, the effect of market storms is shallow, although there are times when they stir deeper, the financial crisis of 2008, for example.

Retirees can survive market volatility because not the entire portfolio is at risk of loss during a down market, that is, if it is properly diversified.

Follow AdviceIQ on Twitter at @adviceiq.

Larry R. Frank Sr., CFP, is a Registered Investment Adviser (California) in Roseville, Calif. He is the author of the book, Wealth Odyssey. He has an MBA with a finance concentration and B.S. cum laude in physics with which he views the world of money dynamically. He has peer-reviewed research published in the Journal of Financial Planning. http://blog.betterfinancialeducation.com/.

AdviceIQ delivers quality personal finance articles by both financial advisors and AdviceIQ editors. It ranks advisors in your area by specialty, including small businesses, doctors and clients of modest means, for example. Those with the biggest number of clients in a given specialty rank the highest. AdviceIQ also vets ranked advisors so only those with pristine regulatory histories can participate. AdviceIQ was launched Jan. 9, 2012, by veteran Wall Street executives, editors and technologists. Right now, investors may see many advisor rankings, although in some areas only a few are ranked. Check back often as thousands of advisors are undergoing AdviceIQ screening. New advisors appear in rankings daily.

 

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