The Regional News Thursday, July 24, 2014
Smart use of ‘variables’ can lead to right answers for retirement If you think back to your math classes in high school or college, you may remember that many of the problems involved the use of variables. Changing these variables around in any fashion would change the outcome of the problem. Similar situations occur in life all the time. To illustrate: If you look at the need to manage your retirement income so that you can’t outlive it as a “problem” to be solved, you will need to adjust some variables to arrive at the solution you seek. That’s why it’s so important you be aware of the key variables involved in your retirement income planning. What are some of these variables? Consider the following: • Your investment mix — You might think that once you reach retirement, you can invest solely in income-producing vehicles, but you can’t forget about inflation. Even a low rate of inflation, such as we’ve had for a number of years, can seriously erode your purchasing power over time — which is why you need to consider owning at least some investments that provide growth potential. Of course, you can change your investment mix at any time: For example, you might want to shift to a greater percentage of incomeoriented investments as you move deeper into retirement. • Your withdrawal rate — You’ll need to calculate how much
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your payments to get the larger benefit amount. Once again, you have a choice to make. • Your earned income — Just Jim because you’ve retired from one Van Howe career, it doesn’t mean you’ll never again earn some income. Many retirees take part-time jobs, do some consulting or even open a small business. Whether you feel that you need to work, or you can afford to withdraw from you just want to work, the money your investment portfolio each you earn from employment can year without depleting it prema- be an important component of turely. Your annual withdrawal your overall retirement income. As you can see, all these varirate will depend on a few different factors — such as your projected ables involve choices on your part. longevity, your investment mix And how you choose to exercise and your other sources of income each variable will affect all the — but you’ll want to be careful other variables. Consequently, as not to take out too much too soon. you manage and monitor your As was the case with your invest- retirement income, you’ll need to ment mix, you have the flexibility make many important decisions. to adjust your withdrawal rate Still, this doesn’t have to be a scary prospect — because the very during your retirement years. • Your Social Security — You fact that you have choices means can start collecting Social Security you also have a great deal of conbenefits as early as age 62, but trol over your situation. So, study your choices carefully, your benefits will be permanently reduced by up to 30% unless you as you work toward achieving the wait until your Full Retirement income you need to enjoy the reAge (FRA), which is likely 66 or tirement you want. Jim Van Howe is a financial 67. However, your monthly checks can increase if you delay taking advisor with Edward Jones Investyour benefits beyond your Full ments, in Palos Heights. His office Retirement Age, up to age 70. If is at 7001 W. 127th St. He can be you come from a particularly long- reached at 361-3400. This article living family, and you have suf- was written by Edward Jones for ficient income apart from Social use by your local Edward Jones Security, you might want to delay Financial Advisor.
Area Property Transfers Following are the property transfers in the area, according to the latest report, as received from the Cook County Recorder of Deeds Office. The Reporter Newspaper does not attempt to correct errors made by that office.
Orland Park
Bacevicius Stase B to Buitkiene Neda, 14125 Yorktown Dr, $160,000; Mena Ann L to Basibas Joan, 8322 140th St, $170,000; Bank Amer to Mitrega Piotr M, 8824 140th St, Unit# 303, $75,000; Lion House LLC to Gonzalez Joel, 10268 Hawthorne Dr, $200,000; Bidinger Andrew M to Wallis Joseph M, 16509 Orange Ave, $328,000; Braun & Aldridge Inc to Lamla LLC Hilltop 47 Series, 15155 Hilltop Ct, $125,000; Bloom Maureen Adm to Makowski Krzysztof, 15342 Wayford Ln, $266,000; Otto Susan M Tr to Marek John A, 13541 Elm St, $158,000; Federal Home Loan Mtg Corp to Szmul Adam, 11342 Steeplechase Pky, $374,000; First Midwest Bk Tr to Palenik Adam, 8923 Clearview Dr, Unit# 8923, $155,000; Hartz Linda Ann Tr to Rader James W, 15721 Lake Hills Ct, Unit# 157211N, $122,000; Biundo Angelo to Vallouta Faris, 17712 Mayher Dr, $180,000; Adkins Craig V to Harding James R, 9105 144th Pl, $217,500;
Devries Glenn W to McQuaid Joseph, 13969 Berkhansted Ct, $170,000; Judicial Sales Corp to Elite Rlty LLC, 7305 Tiffany Dr, Unit# 73053D, $43,000; Marohnic Charles W Jr to Imperiale Silvana, 9906 Shady Ln, Unit# MANY, $98,000; Broadway Paul R to Horn Charles E, 10665 Hollow Tree Rd, $327,500; Benne Guy P Extr to Morandi Raymond, 17333 Brook Crossing Ct, $140,000; McCabe Andrew D to Maslowiec Maciej, 9145 Sandpiper Ct, Unit# 35, $115,500; Wojcik Sandra K to Peterson Jeffrey A, 15218 74th Ave, Unit# 57, $140,000; Bank New York Mellon to Shalabi Raed, 17400 110th Ave, $163,000; Knox Marion S Extr to Liechty Graham, 7246 152nd Pl, Unit# 12, $135,000; Kennedy Terrence E to Muldoon Mary Elizabeth, 11025 W Saratoga Dr, $407,500; Jarks Donald B Jr to Hughes Brian, 15607 Harbor Town Dr, $495,000; Gatto John to Werner Michael, 14259 Camben Dr, $320,000; Dykstra John A to Slager Robert Jr, 10455 Rachel Ln, $342,500; Chicago Title Land Trust Co Tr to Mundschenk Kristen M, 7840 Teton Rd, $381,500; Ruel David P Tr to Silkowski Jan, 9146 Sandpiper Ct, Unit# 43, $90,000;
Poker by Corwin Cole
This year’s World Series of Poker has so far been an enjoyable return to tournament play for me. Event 8, the $1,500 buyin “Millionaire Maker” with $1 million guaranteed to first place, was my first event of the series, and it proved to be an exciting reminder of the nuances of nolimit hold ‘em tournaments. With a well-timed taunt, I was able to set up two key pots that would vault me comfortably into the money. After the first day of play, I managed to bag up about $41,000 in chips heading into day two. Fortunately, I drew a great seat at an ideal table for my strengths. During the first two levels I had chipped up easily, picking on competent players, attempting to steal the blinds and antes. I could feel tensions rising when the blinds jumped up to $600-1,200 with a $200 ante. In the pivotal hand, action folded to a decent player in middle position who was becoming impatient to pick up a pot. He raised to $2,500, and when the action got to me in the cutoff, I looked down at 2s 8s. Certain that I would be able to take this pot away with near impunity, I reraised to $5,300. When he called, his demeanor was tight with frustration. The flop brought 10h 7c 4d, and he checked after some deliberation. This was an ideal flop for me, innocuous enough to goad him into one more call but disconnected enough to leave him highly unlikely to have made a strong hand, so I bet $7,100. His shoulders deflated as he tossed in a call. On a turn of 2h, he checked again, unsure of what would happen next, so I fired $11,400. After some thought, he commented that he had wanted to “play some
pots” upon returning from break, then folded his hand. I showed the 2s and smiled, rubbing salt in the wound. From there, building my stack up to $200,000 was trivial. Just an orbit later, action folded to me in the small blind, and I raised to $3,100 with Ad Ah. My very tight opponent called in the big blind with Ac 3s, and on a board of As 10d 4h 9h 2c, he called off his whole stack, about $40,000 more chips — not a typical hand for him to show down in a big pot. Another few hands passed and I raised to $3,700 with As Kd in early position. Another very conservative player called from the big blind, and as the board came Ad 6s 3d 7h Jd, he also called off his entire stack, about $50,000 worth. I did not get to see his cards, but he probably
Majka Jeffrey E to Adkins Craif V, 11835 Canon Rd, $430,000; Velasquez Edward A to Taylor Matthew H, 11210 Norwich Ln, $312,000; Marquette Bk Tr to Lovett Brad A, 10031 Huntington Ct, $164,000.
Palos Heights
Nard Charlotte M Trust to Varnauskiene Rolanda, 404 Feldnew Ct, $175,000; Severance Patricia to Srebalius Ovidijus, 7632 Arquilla Dr, Unit# 76322A, $120,500; Chicago Title Land Trust Co Tr to Barciene Daiva, 7713 Golf Dr, Unit# 77132A, $110,000; Pempek John J Tr to Bell Richard L, 11901 S 71st Ave, $170,000; Chicago Title Land Trust Co Tr to Chickerillo John T III, 7700 Golf Dr, Unit# 77002A, $107,000; Mills David R Tr to Crudo Joseph D, 13201 N Country Club Ct, Unit# 132012B, $165,000.
had something like Ac Qc, another hand with which I normally wouldn’t expect such an opponent to go broke. Thanks to these abnormal windfalls, I was able to coast through a few more levels, eventually seeing a payout of $6,353. Despite a humdrum run of cards, I showed a bluff in the right situation and was then able to maximize payoffs in two crucial hands, giving me the flexibility and momentum to stay alive while hundreds of other players busted out. These scenarios remind me invariably of why my first love will always be tournament poker. (Corwin Cole is a poker coach whose instructional videos can be found at CardRunners.com. He can be reached at corwin.cole@ cardrunners.com.)
First Midwest Bank (as of July 21) RATES 4.250 3.500 4.250
APR 4.297 3.769 4.295
POINTS 0 0 0
United Trust Bank (as of July 22) 30-year fixed 15-year fixed 10-year fixed
Friends of Library, Crisis Center Auxiliary will be guests of the Palos Market July 30
The Palos Heights Farmers Market is pleased to announce two wonderful guests at the next market on Wednesday, July 30. The Friends of the Library will have a tent to promote the upcoming Friends of the Library Book Sale, which will be held on Aug. 1-4 at the Palos Heights Library. The group will have free books and magazines for adults and children, some additional treats, and membership information about their group. Come early for best selection! Also at the market that day will be the Crisis Center for South Suburbia Auxiliary. They will be promoting their group and the upcoming sixth annual Walk Against Domestic Violence, which will be held at Lake Katherine on Saturday Aug. 9. Registration for the walk, along with raffle tickets for the event, will be available at the market. All proceeds from the Walk will benefit the services of the Crisis Center, a non-profit community organization providing emergency shelter and other essential services for individuals and families victimized by domestic violence. Over the last 35 years, the Crisis Center has helped over 55,000 women and children. More information is available at www.crisisctr.org Congratulations to Erika Genenko, of Palos Park, winner of the July 16 Palos Pool Pass Raffle. Congratulations also to Troy Schemper, winner of the July 16 Novel Cooking library cookbook raffle. Look for additional raffles in upcoming markets. Can’t make it to the market, but want to reap the benefits and all the flavor of the fresh produce from the farmers of the Palos market? Stop by Harvest Room Restaurant for many dishes made from farm fresh fruits and vegetables from our farmers. New menu items are available weekly. Look for new Palos Park Deligiannis Harry G to Stavrou restaurants to look to the Palos market for their produce soon. Senior Farmers Market Nutrition Program Coupons are accepted at the Lyons Fruit Farm and the Demetrios P, 12621 Sedgwick Dr, Zeldenrust Farm stands every week. The coupons work as cash for fresh fruits and vegetables. Stop $446,000; Koval Susan M to Hinkes David by the City Tent for more information about the program. Thanks to all the rain, there is a huge abundance of fruits and vegetables in the market. Stop by for T, 12116 93rd Ave, $330,000; Anderson Mabel O to Michniak everything you and your family needs. In addition to all the produce, you can find eggs, cheeses and butter, bakery and bread items, beef, pork and chicken, pizza products and pesto, tamales, salsas, Ryszard, 51 Park Ln, $195,000; Carey William A Tr to Compagner pasta sauces, jams and jelly, honey, hot and iced coffees and nutritional drink products, desserts and Douglas, 8702 124th St, $240,000; more. In addition, you can find beautiful perennial flowering plants and grasses, Pampered Chef, and Memon Bilal to Fransen Marielle Shaklee products. Finally, make sure to have your knives sharpened at Super Sharp! Stop at the City Tent and pick up the latest recipe from Dr. John Principe MD of the WellbeingMD J, 12572 Suffield Dr, $450,000; Federman Alan to Griffin Carolyn Center for Life. Pick up or have endorsed the 2014 Frequent Shopper Card. New this year, bring a friend and receive double credit on your card! All completed shopper cards are entered into a year-end E, 12833 Brian Pl, $315,000. raffle featuring something from every vendor. Photo note cards, featuring Palos Heights and farmer’s market scenes, are back again this year. They sell for $4, or three/$10. Proceeds benefit the market. The Palos Heights Farmers Market is open Wednesdays, rain or shine, from 7 a.m. to 1 p.m. at 12217 S. Harlem Ave. More information can be found at www.palosheights.org join our email update list, or follow us on Facebook
Mortgage Rates Around the Area 30-year fixed 15-year fixed Jumbo 30-year fixed
Submitted photo and text
RATES 4.125 3.375 3.125
APR 4.089 3.365 3.135
POINTS 0 0 0
APR 4.288 4.052 3.314
POINTS .25 .25 .25
Leaders are newspaper readers.
at I'm a to say th d u o r p four "I'm y!' I read u g r e p a that 'newsp ning and r o m h c a y day. papers e me for m s e r a p e s that r p formed, a t's in l e fe s y .I I alwa h my job it w l a ti n ing is esse 's everyth it , ts r o p not just s cover." cover to sident, ugh, Pre o n o D c ks John M Blackhaw Chicago
Prospect Federal (as of July 21) 30-year fixed 20-year fixed 15-year fixed
RATES 4.250 4.000 3.250
All rates subject to change daily. Equal opportunity lenders.
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