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March 8, 2023
Say I saw it in The Shopper
Personal Trainer to the Real Estate Consumer
Quick Credit Adjustments
An independent newspaper serving this area since 1957. ©The Shopper 924 E. 162nd Street • South Holland, IL 60473 HOW TO REACH US Phone: 708-271-8971 • www.myshopper.biz • Email: general@myshopper.biz CIRCULATION Published every week covering the towns of South Holland/Thornton, Lansing, Dolton/Calumet City, Munster, Highland, and Schererville. Our circulation is independently audited by CAC. ERRORS We proofread all Classified ads. However, should a mistake occur, it can easily be corrected, provided it is brought to our attention. Call 708-271-8971 to rectify an error. We cannot be responsible for more than one incorrect insertion. Adjustment for error is limited to republication. In any event, adjustment for errors or omissions is limited to the cost of the space occupied. CLASSIFIED ADS The Shopper offers FREE non-business Classified Ads (20 word maximum). Business Classifieds are $25 for 20 words, $1.00 per word over. Place ads online at www.myshopper.biz NEWS Email news items to general@myshopper.biz Some content courtesy of Family Features and Capital News Illinois. DEADLINE Friday 4:00 pm for the following week’s issue. PUBLISHER’S NOTICE The Shopper reserves the right to edit any content supplied for publication as it sees fit, including but not limited to clarity, grammatical and factual accuracy, and to accommodate available space. All real estate advertising in this newspaper is subject to Fair Housing Laws which makes it illegal to advertise “any preference, limitation or discrimination based on race, color, religion, sex, national origin, familial status, sexual orientation, marital status, military status, age, ancestry, parental status, source of income, military discharge status or housing status,” no matter how large or small the property. This newspaper will not knowingly accept any advertising for real estate which is in violation of the law. Our readers are hereby informed that all dwellings advertised in this newspaper are available on an equal opportunity basis. To complain of discrimination call HUD toll-free at 1-800-669-9777. The toll-free telephone number for the hearing impaired is 1-800-927-9275.
Financial Advice Column
Can you plan for an unplanned retirement? SUBMITTED BY PATRICK ZAMKIN Many people plan to take an early retirement, so when that day arrives, they’re ready for it. But what if you were to face an unplanned retirement? Would you be prepared to deal with the financial issues? It’s something worth thinking about, because any number of factors — illness, a spouse’s illness, downsizing, other issues — could lead to an abrupt departure from the workforce. But taking action while you’re still working may help you make the transition easier on yourself. Your first move, of course, should be to at least consider the possibility of having to retire earlier than you planned. You can then move on to some concrete steps, possibly including the following. Build an emergency fund. Under any circumstances, it’s a good idea to build an emergency fund — but it’s especially important if you want to prepare for an unforeseen retirement. Generally speaking, your emergency fund should contain three to six months’ worth of living expenses, with the money kept in a liquid, low-risk account. But if you suspect an earlier-than-anticipated retirement may be in your future, and you have some time to prepare for it, you should consider an emergency fund that contains a full year’s worth of expenses. Consider your portfolio’s asset allocation. If you’re concerned about an unexpected retirement, you may want to consider the equities allocation in your portfolio. If you think you may need to tap into your portfolio sooner than you expected, you may not want to be over-exposed to investments most vulnerable to market volatility. However, these are the same investments that offer you the most growth potential — which you’ll need to help stay ahead of inflation. So, look for an investment balance that’s
appropriate for your needs. As part of this positioning, you may want to shift some assets into income-producing vehicles, while also adding to the “cash” portion of your portfolio to boost your liquidity. Evaluate your Social Security options. An unplanned retirement may cause you to consider taking Social Security earlier than you had planned. You can start taking Social Security when you’re 62, but your monthly benefits will be up to 30% lower than if you had waited until your full retirement age, which is likely between 66 and 67. If you have sufficient income through other sources, you may be able to delay taking Social Security until your checks will be bigger — but of course, if you need the money, waiting may not be an option. Address your health care needs. If you take an unplanned retirement, and you have employer-sponsored health insurance, you’ll have to look for alternatives. You might be able to get extended coverage from your employer, but this could be quite expensive. Of course, if you’re already 65, you can get on Medicare, but if you’re younger, you might be able to get coverage under your spouse’s plan. If that’s not an option, you may want to explore one of the health care exchanges created by the Affordable Care Act. To learn more about these exchanges, visit healthcare.gov. Taking an unexpected retirement can certainly be challenging – but the more prepared you are, the better your outcomes are likely to be. This article was written by Edward Jones for use by your local Edward Jones Financial Advisor, Patrick Zamkin, located at 18735 Dixie Hwy, Homewood, IL 60430. Contact us at (708) 798-9066. Edward Jones. Member SIPC.
MIKE BUDER The spring market is almost here! Potential buyers are receiving income tax returns that in some cases equate to down payments. However, many first-time home buyers seeking pre-approvals are finding that their credit (FICO) scores are slightly sub-par for a mortgage approval. Unfortunately, a person with a bad credit score is often in this position because he or she lacks the discipline to pay bills on time. Of course, there are exceptions where unforeseen circumstances come into play, such as health complications, or loss of employment. There are a few things that may be able to bring your score up so that you can either qualify for or secure a better interest rate on your mortgage loan. Example 1: Distribute debt from revolving credit. Our borrower, Mr. Jones, has a credit score of 664. He has five credit cards, but his Visa account is almost maxed out. His other four credit cards have relatively low balances. Mr. Jones moves part of the debt from the Visa account to the other major credit card accounts, thus distributing the debt more evenly over the five cards. This changes the ratio of debt to available credit (which has a 30% impact on the overall
credit score) and Mr. Jones successfully raises his credit score by 20 points with very little effort. Example 2: Transfer outstanding balances to new accounts. Our borrower, Mr. Smith, has only two credit cards, but both are pushing the limit of available credit. Mr. Smith opens two new credit card accounts, each with a credit limit of $5,000. He transfers part of his existing balances to the new accounts. While he has acquired two new cards that have no established history, the greater impact is the change in the ratio of debt to available credit. Ultimately, experts say that it is best to have three to five credit cards, and no more than that. You should keep your balances as low as possible. If you have a credit account with a zero balance, do not close the account. Instead, make a small purchase so the card shows up as an active account on your credit report, and you will be awarded points for your long-term credit history. If you are looking to buy or sell real estate call Mike Buder at RE/MAX 10 (708) 418-4444, E-mail: mikebuder@remax.net, Website: www.BuderHomes.com. Facebook Friend request Mike Buder: your comments are always welcome.
Pritzker touts $70 mil. plan for addressing teacher shortage Gov. JB Pritzker on Friday highlighted a proposed grant program that would direct $70 million per year over the next three years to school districts facing the greatest teacher shortages. The Teacher Pipeline Grant Program, which Pritzker included in his budget proposal to lawmakers, would target vacancies in 170 school districts that account for 80 percent of all unfilled teaching positions in Illinois. The districts would have “maximum flexibility” to decide how the funds are disbursed, according to a news release. Funds could be used for signing bonuses, housing stipends, down-payment assistance and providing residencies or apprenticeships, among other hiring incentives. Districts may also use the funding to reimburse tuition and fees or to provide teaching supplies, coaching and additional school support. “The result will be that over 870,000 Illinois students will see an improved teacher-student ratio, a critical factor in classroom success,” Gov. Pritzker said at a Friday news conference. “Our collective goals are to make sure we have enough great teachers in every classroom.” The governor touted some of his earlier accomplishments aimed at improving the teaching workforce, including increasing the teacher minimum wage, increasing scholarships and grants for aspiring teachers, and reducing the reinstatement fees for a lapsed educator license. Pritzker also made a call to other teachers in surrounding states to move to Illinois. “We have surrounding states where teachers are paid less than teachers in the state of Illinois and I want to formally invite every teacher in every state surrounding us to jump over the border,” Pritzker said, eliciting laughter from the crowd. He was joined by newly appointed State Superintendent of Education Tony Sanders, a former superintendent for Elgin Area School District U46, the second largest school district in Illinois. Sanders pointed to Illinois State Board of Education data that shows Illinois schools
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reported 3,558 unfilled teaching positions as of October 2022. “These shortages don’t just affect students equally. These vacancies are concentrated in bilingual education, special education and STEM,” Sanders said. “This is why the teacher pipeline program will target districts with the resources they need to solve locally the challenges they have for recruitment and retention and remove barriers preventing aspiring educators from pursuing a calling to teaching.” In addition to the grant program, ISBE will also spend $6 million in federal funds to hire a multimedia advertising and marketing firm to create a statewide teacher recruitment campaign. The governor has spent several recent news conferences publicizing his plans on education issues, including his proposed “Smart Start” program to expand access to preschool and child care throughout the state. In the weeks following his budget address, he visited Springfield, Rockford, East St. Louis, Chicago, Mount Vernon, Chicago, Peoria and Macomb to rally support for the plan. “When I came into office, the state of Illinois was providing nearly the lowest percentage of school funding for K-12 and P-12,” Pritzker said at the Friday news conference. “That was four years ago. But during the last four years, with the General Assembly’s help, we’ve addressed this woeful underfunding of K-12 education with an increase of more than $1.5 billion from the state of Illinois.” His proposed plan calls for $250 million to fund the first year of Smart Start and an additional $350 million aimed at the Evidence Based Funding formula. Capitol News Illinois is a nonprofit, nonpartisan news service covering state government. It is distributed to more than 400 newspapers statewide, as well as hundreds of radio and TV stations. It is funded primarily by the Illinois Press Foundation and the Robert R. McCormick Foundation.
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3651 Ridge Road, Lansing 708-895-2630
219-972-2630