Opinion
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WEDNESDAY JUNE 15, 2016
CHEERS AND JEERS LETTERS TO THE EDITOR
Gen Xers must juggle both money and time If you’re an older member of Generation X – that is, if you were born in the early- to-mid-1960s – you may have a lot of “balls in the air.” You are saving for your own retirement – which might not be that far away – while at the same time possibly wanting to help pay for your children’s college education. And you may also be assisting your aging parents in some ways. How can you manage this juggling act? To begin with, you need to emphasize your retirement. Now that you are likely in, or near, your peak earning years, you should contribute as much as you can afford to your 401(k) or other employer-sponsored
by guest columnist Connel Ware retirement plan. Your plan likely offers you a range of investment options, so you can create a portfolio that’s appropriate for your needs. The money in your 401(k) or similar plan can grow on a tax-deferred basis, and your contributions are typi-
CHEERS to Don Douglass for a great letter to the editor about the golf course. JEERS to the Town Council and mayor for not seriously considering replacing the Town Manager. – Mickey Wright Jamestown
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Letters to the Editor The Jamestown News welcomes letters to the editor. Please limit your letter to 400 words or fewer, and include your name, address and daytime telephone number. Letters are limited to one per month. The Jamestown News reserves the right to edit or withhold any letter from publication. Letters to the editor represent the opinion of their writers, not that of the Jamestown News or its employees. Email to: jamestownnews@northstate.net. Mail to: The Jamestown News, P.O. Box 307, Jamestown, N.C. 27282. Fax to: 336-841-4953. Cheers and Jeers If you have a CHEER or JEER, let us know by calling 841-4933, or emailing jamestownnews@northstate.net. Please include your name, address and phone number, but submissions may be run as anonymous if requested.
N.C. HISTORY • June 16, 2007 – A North Carolina State Bar disciplinary committee said disgraced prosecutor Mike Nifong would be disbarred for his disastrous prosecution of three Duke University lacrosse players falsely accused of rape. • June 17, 2006 – The Edmonton Oilers shut out the Carolina Hurricanes 4-0 to take the Stanley Cup finals to a seventh and deciding game. • June 17, 2010 – In Kosovo, Bajram Asllani, 29, of Mitrovica, was arrested and accused of being part of a terrorism plot that originated in North Carolina among people who planned attacks both at a U.S. military installation and abroad. • June 17, 2012 – Webb Simpson, 26, of North Carolina won the U.S. Open golf tournament at the San Francisco’s Olympic Club with one stroke over par. • June 18, 1586 – English colonists sailed from Roanoke Island after failing to establish England’s first permanent settlement in America. The Roanoke colonists returned to England with two friendly Indians. They left behind 15 well-provisioned men to maintain the English claim. • June 18, 1998 – In North Carolina an Amtrak train crashed into a tractor-trailer and killed the driver. Ten others were injured. • June 20, 2008 – Wilbur Hardee (b.1917), founder of the Hardee’s restaurant chain in 1960, died in Greenville.
cally made with pretax dollars. So, the more you put in, the lower your annual taxable income. You won’t have to pay taxes until you take withdrawals, but if you do withdraw money before you reach 59½, the withdrawals may be subject to a 10 percent IRS penalty. Even if you’re contributing to a 401(k) or similar plan, you’re probably still eligible to contribute to an IRA. Like a 401(k), a traditional IRA offers tax-deferred growth potential, while a Roth IRA can provide tax-free earnings distributions if you’ve had your account at least five years and don’t take withdrawals until you’re at least 59½.
If you devote most of your investable income to your retirement plans, you may not have much left to help pay for your children’s college education. But that may not be a disaster – after all, they could get scholarships and financial aid. And even if they need to take out student loans, they have a lot more years to pay them back than you have until your retirement. If you can afford to help your children, choose a smart college-savings vehicle, such as a 529 plan, which offers tax-free earnings distributions as long as the money is used exclusively for qualified higher education expenses. (If it’s used for other purposes, you’ll be
taxed on it and also could face a penalty.) How about your elderly parents? How can you best help them? Hopefully, they will not require any outright financial assistance from you – but that doesn’t mean you can’t assist them in other ways. If you haven’t already done so, try to find out as much as you can about their estate plans and any arrangements they’ve made should they become incapacitated. Ideally, you’ll want to get answers to questions such as these: • Have they named a durable power of attorney? • Have they chosen an executor for their estate? • Have they thought about how they would pay
for any long-term care services they might need, such as a nursing home stay? It may not be that easy to have these conversations, but they are important – especially if you are going to play an active role in your parents’ plans. Clearly, as a Gen Xer concerned about retirement, college-age children and aging parents, you’ll have a balancing act involving both money and time. But with planning, patience and realistic expectations, you can help yourself and the ones you love.
ease. Don’t ignore the situation until you are satisfied that your grandfather is well and happy. Best regards, Grammy-Annie
you’ve arranged to be away those days. It’s up to him to interpret what “away” means. If your boss says he can’t make changes now, restate that you’d already made plans that can’t be changed, and that you’ll be in on your next agreedupon day. Keep your conversation with your boss pleasant and matter-of-fact. You don’t want to give your supervisor the impression that he’s being mean or stupid. Even when moving on, it’s wise to keep a positive relationship with a past company. Nine years of your life will be on your resume, and it’s wise not to burn your bridges behind you. You never know when you’ll encounter people from your past again and need them on your side. Best regards, Excelsior
Aunt denies visitation rights to family members Q. My grandfather has early signs of dementia. He lives with my aunt who is better able to care for him than my mom because of her own health problems. My aunt has a nasty temper and because of an argument between them will not allow my mother to visit her father or even allow him to use the phone. Can she do this? I’ve been thinking about visiting and taking him to see my mom as well as getting him a cell phone. Can she have me kicked off her property if I do this? Plus I am scared of what she will do next if I do anything. I don’t know what to do. It’s hurting my mom, sister, niece and nephew. A. The best solution would be to make peace with your aunt so that you can visit your grandfather regularly. You can just drop in, of course, but if you get him a cell phone she can take it from him. Technically, she can have anyone kicked off of her property. If you refuse to leave, however, she could call the police and there would be a lot of drama
Advice from Those Who Care
and explaining to do. If you can’t make peace with her, you can call Adult Protective Services and ask them to do an elder welfare check. They will call and talk to your grandfather or come to the house to check on him. Does your aunt have guardianship over him? If he is still in control of his own affairs and finances, he is really the person who needs to tell her he wants to see other family members. Calling the authorities won’t help to make peace. Start by going over there to visit your grandfather. Maybe your aunt isn’t mad at you. Talk to him in front of her, but don’t bring up any controversial issues. If you can gain her trust and come and go when you like, you’ll be able to put your mother’s mind at
MOMENTS IN TIME
• On June 15, 1986, stockcar driver Richard Petty makes the 1,000th start of his NASCAR career, at Michigan International Speedway. “The King” would extend his record to 1,184 career starts before his retirement in 1992. • On June 16, 1884, the first roller coaster in America opens at Coney Island, N.Y. The coaster traveled 6 mph and cost a nickel to ride. The name Coney Island is believed to have come from the Dutch Konijn Eilandt, or Rabbit
Island. • On June 17, 1972, five burglars are arrested in the Democratic National Committee headquarters at the Watergate complex in Washington, D.C. An extensive investigation unveiled a scheme of political sabotage and espionage, which ultimately resulted in the resignation of President Richard Nixon. • On June 18, 1923, the first Checker Cab rolls off the line in Kalamazoo, Mich. In 1922, with some 600 Checker Cabs on
Advice on a very stressful work situation Q. I’ve been working for nine years as a produce clerk. I recently interviewed for the management program but was denied it. Since then I have been accepted into an assistant manager position at a different grocery chain in two weeks with better pay. My situation is this: I had asked my manager for a vacation next week (I have 3 saved up) which he agreed on. However, my friend at work says that I am on the schedule for next week. I am severely pissed off and don’t know what to do. A. You already have your new job, so there are no worries about your needing a reference at this point. Contact the scheduler. Say you’d learned that your name was erroneously placed on the schedule during your agreed-upon vacation days. Mention that
the streets of New York City alone, owner Morris Markin went looking for a bigger factory and settled on Kalamazoo. • On June 19, 1864, the most successful and feared Confederate commerce raider of the war, the CSS Alabama, sinks after a battle with the USS Kearsarge off the coast of France. After three years and 75,000 miles, the Alabama needed overhauling and was taken to France, where the USS Kearsarge was lying in wait.
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Elder Wisdom Circle is a network of seniors aged 60-105 offering their experience and advice. Letters selected by Doug Meckelson. Visit ElderWisdom Circle.org.
• On June 20, 1963, the United States and the Soviet Union agree to establish a “hot line” communication system, a step toward reducing tensions between the two countries following the Cuban Missile Crisis. • On June 21, 1956, playwright Arthur Miller defies the House Committee on Un-American Activities and refuses to name suspected communists. Miller’s defiance of McCarthyism won him a conviction for contempt of court.
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