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Friday, June 1, 2018
Teaching Children to Save
This is something I always get excited about. Children are a relatively blank canvas and most haven’t had any real experience with money yet. We also know that kids learn most of their habits from the adults in their lives. This could be a good thing or a huge problem.
Unfortunately, here are some statistics of adults today:
• Americans owe $1.1 Trillion in student loans debt and $845 Billion in Credit Card debt.*
• 1 in 4 Baby Boomers has nothing saved for retirement.*
• 52% of Generation X expect a decrease in their standard of living when they retire.**
• 39% of Millennials worry that they will not have enough money to retire when they are ready.**
Fortunately, this gives us an opportunity to create those financial habits in our kids that we wished came easier to us. Giving children a basic foundation to understand how to properly budget and save for the future is extremely powerful.
One of the best and most impactful lessons is the importance and the value of delayed
gratification. You can teach this with simple and easy to understand concepts. Here are two ideas to get started:
1. Offer your child one M&M right now, two M&M’s if they wait for five minutes, or five M&M’s if they wait ten minutes. This is a simple way to teach your child about savings and compound interest that can be earned the longer they wait.
2. Do they have that one game or toy that they really want? Help them set a goal to earn enough money to buy that toy or game. Then create a way for them to earn that money through a chore chart or activity chart or let them be creative with ways to work to earn money towards their goal.
Guiding this learning at at young age can help them to build a solid foundation for good money management habits when they grow up. Here are some simple concepts that can kickstart your child’s early learning.
1. Do you need it or want it? What is the difference?
2. Wait! Some things are worth it. Or they may realize they don’t want or need it as badly as they thought.
3. Share what you have earned.
Taking these simple actions is a great way to set a positive example for your children about how to properly save for the future.
*ACL Retirement Survey, 2016
**”The Five Most Important Money Lessons to teach Your Kids” by Laura Shin, Forbes.com
Natalie Litchfield and her firm IFC are State Registered Investment Advisors. Past performance is no guarantee of future results. This is not a solicitation for the sale of securities.
Remembering Leslye Ann Vodden
Leslye recently left us after a long battle with ovarian cancer. She would not let her illness define her and was determined to be mindful of every moment and remain happy. She was a warrior all the way, traveling regularly to Stanford for clinical trials, helping establish a nonprofit community Cancer Support Group, and enjoying the outdoors almost to her final day.
Leslye loved the little things, like hearing a song bird or seeing Sandhill Cranes flying in a perfect “V” formation. Above all, she adored experiencing nature and being outside. She was a passionate adventurer, hiking trails throughout the region, riding her Tennessee Walker Johnny Cash, kayaking lakes and rivers, and tracking the Turkey Vulture migration in Auburn. Her keen powers of observation translated into beautiful acrylic paintings of landscapes and portraits of dogs, which were exquisite depictions of the personality and character of these animals.
Her long teaching career gave her great satisfaction by making a difference for so many kids, those with special needs and learning disabilities as well as her sweet kindergartners. She was especially close to the English learners and loved their families and the culture they shared.
Leslye is survived by her husband Stewart Feldman, partner for over 45 years, their children Amber Vodden and Evan Feldman, and her brother Ryan Vodden. To reflect on Leslye's rich life, full of unique experiences, deep friendships and so much love, we plan a “Celebration of her Impact on Our Community” for July 28 in Auburn. For details, visit www.lvodden.com
From the MV Lions Club
Please stop by to view the car show from 8 to 2 p.m. on June 3, 2018 at Meadow Vista Park. Spectators are FREE, All vehicles/bikes are welcome to participate. Registration for a vehicle is $20. Breakfast and Lunch will be available.
We were pleased to see all those youngsters for the annual Easter Egg Hunt. There were 4,000 eggs out in the field for tots to 10 year olds to find. Thank you to the Cub/Boy and Girl Scouts along with the LEOs for their assistance with stuffing and hiding all those eggs. The wonderful Easter Bunny even made a guest appearance. Thank you Easter Bunny!
It was great seeing you on Mother's Day for our Annual Mother's Day Breakfast! We sure do appreciate our local moms!
Please visit our website at www.meadowvistalions.com or visit a meeting the 2nd or 4th Wednesday of the month at the Community Center. Starting time is 7 p.m. Our email address is meadowvistalionsclub@gmail.com
From the Friendly Neighbors
The Meadow Vista Friendly Neighbors Club (the Friendly Neighbors) (a non-profit organization) installed our 2018 officers at the beginning of the year. Our officers are: President, Dana Johnson; Vice President, Margo Lambert; Recording Secretary, Rhoda Martin; Corresponding Secretary, Carrie Pitta; and Treasurer, Sharon Bradford. We are grateful to these ladies for their service and wish them well as they guide our club this year.
The Friendly Neighbors held our annual Easter See's Candy Sale in March. This is an important fundraiser for our club and we are very grateful to our wonderful community for the support we received – thanks to each and every one of you who stopped by and bought some delicious Easter candy. Thanks, too to Holiday Market and its manager, Joel, for allowing us to use this space and for being so supportive of our efforts throughout the year!
On June 3rd, the Friendly Neighbors will be participating in Pioneer Day. This is a wonderful community event and a great way for us to let our community know how much we appreciate it. We'll march in the parade and hold a free raffle for gas at our booth in the park. So, stop by our booth to say “Hello” and enter this fun, free raffle.
We are excited to be able to offer five free swim days at the Community Pool this Summer. The exact dates will be announced shortly. These free swim days are open to everyone so please come and enjoy the pool during one of the swim days – it's our treat!
The Friendly Neighbors meet at the Faith Lutheran Church on Combie Road in Meadow Vista on the fourth Wednesday of each month (with a few exceptions). We meet in April on the 25th and in May on the 23rd. In June and August, we will meet for a brown bag lunch at the Community Park (there will be no meeting in July). Social time begins at 11:30 AM; a complementary lunch is served at Noon (except during brown bag lunch meetings); our meeting follows lunch. Community members interested in our work are invited and encouraged to attend and join us in our efforts to serve our wonderful community.
The Meadow Vista Friendly Neighbors Club, www.meadowvistafriendly neighbors.com
Happy Summer Birthday Baby Boomers
Do you turn 65 this summer? While planning your summer celebrations and vacations, you'll also want to plan your Medicare Enrollment.
You've been receiving endless postcards and fliers for months now...but what do they all mean? The whole subject may be overwhelming but with help you can ease into the transition and make an educated choice that is right for you.
If you're still working, you may not need to make any changes. You should speak with your company's HR department regarding your current insurance and how they work with Medicare. If you are receiving coverage through a union or retirement plan, check with that plan's representative for your options.
If you're retired and/or don't have employer sponsored coverage you'll need to make sure you are enrolled in Original Medicare Parts A and B. If you are already accepting your Social Security benefits, you will be automatically enrolled. You'll receive your red, white and blue Medicare card in the mail. Not accepting your benefits yet? No problem. You'll simply call up Social Security and request to be enrolled. They'll verify your eligibility and send out your card.
But is Original Medicare enough coverage for you? This is where things can get a little confusing. Original Medicare alone will only cover 80% of your medical costs and does not include coverage for Prescription Drugs. This leaves you responsible for significant costs.
To protect yourself against these additional expenses you may enroll in a Medicare Supplement Plan and a Part D Prescription Drug Plan. Or maybe a Medicare Advantage Plan will suit your needs better.
Reach out to friends and family that have already made the transition to see what they have done and what they recommend. You may also find it valuable to work with a licensed Medicare Broker that can present all of your options and review costs and doctor and pharmacy availability.
With reliable information, your Medicare Enrollment can be smooth and worry free leaving you time to enjoy your birthday celebrations and a wonderful Meadow Vista summer!
Vaccine Breakthrough
Finally, a highly effective shingles vaccine called Shingrix® is now available and will prevent over 90% of shingles outbreaks. The previously administered vaccine, Zostivax®, was frequently not effective. There are typically no health restrictions on receiving the vaccine because, unlike the previous vaccine, which was a modified live virus, Shingrex® is an inactivated vaccine. This means the shot does not cause an active infection, but instead just builds up a strong immune response. A person receiving the new vaccine may be in close contact with children or immunocompromised adults without concern that they will spread the virus.
The virus that causes chicken pox and herpes zoster is called varicella and people usually become infected as children and develop a case of chicken pox. Once their immune system suppresses the virus, it lays dormant in neural ganglia. A weakened immune system allows the virus to reactivate and spread along nerves and cause herpes zoster. Unfortunately, zoster outbreaks can be serious and cause a very painful syndrome know as post-herpetic neuralgia. While outbreaks typically involve the skin, other more dangerous infections involving the eye and central nervous system can occur. As we age, our immune system may weaken to the point where the virus reactivates and causes herpes zoster.
Shingrix® is recommended for those who are 50 years of age or older and may be given to a person who has received the older vaccine or has had previous herpes zoster outbreaks. The new vaccine comes as a 2 injection series. The second immunization is given between 2 and 6 months after the first shot. It is very important to receive the second injection at the proper time to maximize the effectiveness of the vaccine. Individuals should check with their health insurance company to see if the vaccine is covered. Unfortunately, basic Medicare does not cover the shots, but an individual's separate Medicare drug plan may cover part of the cost. For those who want to pay for the vaccine themselves, the cost is about $150 for each shot and $300 for the full series. Although Shingrix® is very safe, it frequently causes side effects: pain (78%), redness (38.1%), swelling (25.9%), myalgia (44.7%), fatigue (44.5%), headache (37.7%), shivering (26.8%), fever (20.5%), and gastrointestinal symptoms (17.3%). Symptoms typically last for 24 hours but may continue for 48 to 72 hours.
Shingrix® is truly a breakthrough vaccine and promises to end the scourge of herpes zoster. Check with your healthcare professional for more information.
What is the Difference Between a Trust and a Will?
Everyone has heard of a will or a trust but many times the terms are used interchangeably as if they are the same. They are not. Both are tools that can be used when creating an estate plan however, both have different purposes and are used at different times.
One of the biggest differences between a will and a trust is that the will only comes into effect after you die. A trust is used both during your life and after your death. A will designates who you want to receive your estate after your death and designates an individual to carry out those wishes. A trust allows distribution of your estate during your lifetime, at your death or even at a later time. A trust is an agreement between the person who creates the trust (you) and the person who manages the trust assets upon your passing, or you while you are alive.
In many cases a will is used in conjunction with a trust. All property is held by the trust and a “pour over will” is used to ensure that anything which was mistakenly left out of the trust pours into the trust at the time of death. The “pour over will” also can be used to designate guardianship of minor children. If the will is used this way and set up properly it will not pass property through probate.
Every individual’s estate planning needs are different. For some a will is the correct tool, while for others a trust is necessary. This article should not be construed as legal advice. If you have questions about which is best for you contact an attorney that can assist you to make that decision.
Real Estate Pulse: What You Should Know Now
There are questions on the minds of everyone looking to buy or sell real estate right now. Are rates rising? Is this a good time to buy or will I pay too much? Is it a good time to sell and will I make a good profit? There are many variables in real estate and no one agent, lender, or economist has a crystal ball, but good experience, trends, and statistics help us to get a pulse on what is happening now.
Rates are still historically low according to Freddie Mac, but they have risen nearly half a percent in the last year. They have gone from close to 4.00% to around 4.40% for a 30 year fixed mortgage, and from around 3.25% to just under 4.00% for a 15 year fixed rate mortgage. Freddie Mac also projects that we may see 2 or 3 more rate hikes this year.
Because rates are still fair but are projected to go up it is a good time to buy. Though, in some cases buyers looking to purchase a home under $500,000 may expect to go out a bit further, “drive until they qualify”, or invest in a home that needs a bit of work to stay within their price range. There is a supply shortage, especially for homes in the lower end of the market, under $500,000.
Sellers should know that while rate increases may be causing a sense of urgency, there is not enough inventory to sell. A recent Credit Suisse survey reported an ongoing increase in buyer traffic. Their survey showed a “pent-up demand, especially in more affordable price points, given the persistent inventory shortage”. Sellers may want to take advantage of the buyer frenzy.
Here's to a great year in real estate! Let's get it done!
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