3 Bureau County Journal • bcrnews.com
Thursday, August 22, 2013 • 3
Your hometown beat Meeting Calendar Aug. 26 Buda Village Board, 7 p.m., village hall Cherry Village Board, 7 p.m., village hall DePue Village Board, 7 p.m., village hall Ohio High School Board, 7 p.m., library Ohio Village Board, 7 p.m., village hall Princeton Elementary School Board, 7 p.m., library
Aug. 27 Ladd Village Board, 6:30 p.m., council chambers LaMoille Village Board, 7 p.m., village hall
Auction Calendar Aug. 24 – Marilyn Pryor, antique and modern furniture, collectibles, household items, 10 a.m., 814 Greencroft Road, Princeton, Tumbleson Auction Co., auctioneers. Aug. 24 – Rita Hallman trust, farmland, 10 a.m., sale conducted at Green River Country Club, 15212 State Route 92 (one-half mile east of Walnut), United Country - Dahl Real Estate, auctioneers. Aug. 30 – Mark A. Holman, farmland, 10 a.m., sale conducted at 401 W. Main St., (The Shed), Wyanet, Rediger Auction Service, auctioneers. Aug. 31, Sept. 1 & 2 – Three-Day Labor Day Estate Auction, primitive furniture and items, stoneware, toys, boat, decoys and duck calls, fishing collectibles, lures, coins, arrowheads, rugs, old pottery, clock collection, antiques, collectibles and ladies items, 10 a.m., 1635 N. Main St. (Tumbleson Auction Center), Princeton, Tumbleson Auction Co., auctioneers.
Seeking Sources Summer is upon us, and the Bureau County Republican is anxious to see your vacation photos. When you’re packing your suitcase for an upcoming excursion, remember to pack a copy of the BCR too. When you get to your destination, have someone take a photo of you holding the newspaper. It’s always fun if you can stand in front of a landmark or something interesting at your destination. When you get home, email the photo and some information about your trip to BCR Associate Editor Rita Roberts at rroberts@ bcrnews.com. Make sure you tell us who is in the photo and where your photo was taken. We’ll be happy to show your friends, family and neighbors where you went on your most recent vacation. Where in the World is the BCR? Hopefully, it’s in your suitcase and ready to go on a fun-filled journey, filled with memory-making moments. ••• The BCR is looking forward to seeing your summertime photos to share with other readers. Email your photos and information to BCR Copy Editor Sarah Maxwell at smaxwell@bcrnews.com. You can also drop a photo by our office at 800 Ace Road, Princeton. Remember to let us know where you took the photo, as well as who is in it. ••• What kind of great summer treats are you preparing in your kitchen? We’re hoping you’ll share your recipes with our readers. Recipe columnist Judy Dyke would like to feature one of your recipes in an upcoming edition of the Bureau County Journal. Send your recipes to her at judyd2313@ frontier.com. You can also mail them to her attention at the BCR, P.O. Box 340, Princeton, IL 61356. ••• The BCR welcomes your story ideas and news tips. If you have an idea for a story, we’d love to hear it. Call 815-875-4461, ext. 229. •••
Buying an alarm system? Protect yourself from being ripped off Summer is a time for fun in the sun, vacationing and outdoor adventures. Unfortunately, it is also a busy time for burglars. Investing in an alarm system may be a necessary purchase for some homeowners. The Better Business Bureau serving Chicago and Northern Illinois (BBB) is advising homeowners, who are looking to install a home security system, to do research first. It is not uncommon for unethical salesmen to go door-to-door with high pressure sales tactics, making homeowners act quickly. They will go over the big details of their system and rush through the process to make a sale. Unfortunately, the sense of urgency these salesmen give to their customers can lead to a lot of trouble later on if the proper research is not done. “A home security system is a major purchase, and it is important that you research thoroughly before making any decisions,” said Steve J. Bernas, president/CEO of the Better Business Bureau serving Chicago and Northern Illinois. “There are many door-to-door salesmen that may not have your wants, needs and safety as high on their list of priorities.” The BBB advises consumers to do the following when looking to invest in a home security system: • Choose a professional installer. Deal only with reputable firms and check out the company’s Business Review with your BBB first at www.bbb. org You may also get a recommendation from the insurance company that covers your home. Carefully consider your security requirements. The best home security system will accommodate your lifestyle and the specific valuables you want protected. Review the sales contract closely to ensure you understand exactly what equipment
and protection you will be provided and that it fulfills your wants and needs best. Contact at least three companies before selecting an installer. Research multiple companies and find out if they are properly licensed in Illinois and if they screen employees before hiring. • Ask about all charges up front. Prices for home security systems will vary greatly, based on the level of protection and type of technology used, so be sure to know your budget and compare bids on similar systems. Do not forget to factor in the initial installation charge, as well as monthly monitoring charges. Talk to your insurance agent; some systems may qualify you for a discount on homeowner’s premiums. Ask for a complete inspection of your property and an itemized written estimate. Know the ins and outs of your contract. If your alarm system will be monitored, either by your installing company or by a third-party monitoring center, find out the length of the contract. Typically, monitoring contracts are between two to five years in length. Some questions to ask before you obligate yourself to a long term contract: 1. What is your recourse if you are not satisfied with the services provided? 2. Can you cancel the contract? 3. What are your rights if your monitoring company is purchased or acquired by another alarm company? • Insist the installer “walks” you through your system until you fully understand how it works. This will prevent the most common problem: False alarms. False alarms are an indicator of the quality of the alarm installation and user education. Make sure that you are aware of how your system works and that all of you questions are answered. For more information on finding businesses and consumer tips, visit www.bbb.org.
Planning for a dream retirement Financial engineer shares four secrets everyone should know It’s no wonder baby boomers worry about outliving their retirement savings. One out of four 65 year olds today can expect to live past 90, and if they’re married, one of every four will live even longer. With 10,000 boomers turning 65 every day, it’s a big worry for 26 percent of the U.S. population. “The biggest concern for boomers is living too long, or getting sick, and running out of money,” says Rao K. Garuda, an engineerturned-independent financial planning advisor specializing in work with seniors, high net worth business owners and professionals. “The average 65 year old retires today with $500,000 to $1 million in assets, and while that might sound like a lot to a 20 year old, it isn’t,” Garuda says. Even if you plan to continue some kind of work post-retirement – as many people do whether
because they must or because they enjoy it – it’s imperative to plan ahead for the day you can’t work, he says. “Equally important, people deserve the freedom to make choices about how they’ll spend their last 20 or 30 years, especially if they’ve spent 45 years going to work every day. That’s part of the American dream,” Garuda says. “And you don’t have to earn a fortune to save a fortune!” Garuda shares four things everyone should know about preparing for retirement: • Save first, then spend. Most people spend first, then try to save what’s left, Garuda said. The secret is to make saving first your priority. “The people who save first will always be the people who are employing everyone else!” he says. • Take advantage of tax-free savings. Taxes are the biggest expense anyone has. Besides federal, state, city and death taxes there are 59 other different ways your money is taxed, Garuda said. “If you save $1, Uncle Sam will help you by waiting for his cut of that $1. With planning, you can put him on hold for about two generations,” he added. With tax-free compounding, a
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relatively small amount of money saved can yield huge returns years from now. • Decide how you’ll manage risk. There is risk in everything, and Garuda warns that those who simply choose to ignore it do so at their own peril. Others choose to “go broke safely” – they avoid risk to such an extent, they lose money. A good example is people putting all their savings in CDs that pay just 1 percent; since that’s lower than the rate of inflation, they’re losing money. In some cases, people transfer risk to someone else, for instance, when they buy homeowners insurance. Finally, they choose to manage their risk emotionally, psychologically and technically through asset allocation rebalancing and other tools that allow you the amount of risk you’re willing to assume while still providing opportunities for growth. • Create tax-free income. “My favorite question to ask people is, ‘What have you done to create tax-free income?’” Garuda said. There are many ways to do this – Roth IRAs, life insurance, taxfree bonds, annuities — but most involve working with a knowledgeable financial planner.
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