August 10, 2017 Page 3 Finance 7 Tips For Balancing Retirement Savings and Paying For College (BPT) - Most people want to help their children pay for a quality college education, but it can be difficult to balance personal financial goals and funding your kids’ educational aspirations. When retirement savings is sacrificed for college costs, it can be a disservice to the entire family. To help guide you in determining the best way to pay for your kids’ college while still funding your retirement savings, personal finance expert and host of the So Money podcast Farnoosh Torabi offers seven smart tips. While funding your children’s college education is important, your retirement savings should take priority. Strive to contribute 10 to 15 percent of your take-home pay toward retirement savings. The reality is college is four years and retirement can be 30+ years. Plus, there’s no scholarship for retirement like there is for college! If your workplace retirement plan comes with a match, take it. Contribute the minimum to receive your employer match. At the end of the day, it’s free money and that’s the best kind. College is expensive, so make sure you’re discussing with your kids overall costs and what you’re willing to contribute. Have them help research financial aid and scholarship opportunities, too. Remember, you want to find a school that’s the best fit - so don’t let the initial “sticker price” scare your children from applying. Some private colleges may give the best aid packages, but other times they may not. Don’t make assumptions and always keep your options open. The goal is to find the college with the best value. While involving your children in the discussion, it’s also important to make sure you’re not setting them up for failure when they graduate. As they research student loan possibilities, make sure they’ll be able to comfortably afford payments once they graduate, and that they’re not taking on too much debt. An easy way to start researching together is to visit College Ave Student Loans and use the configure-it-out tool. Answer a short series of questions regarding how much you’ll borrow, how many years of schooling are left, whether you want to make payments during school or not, etc. Consider opening a 529 that allows flexible spending toward higher education. Should your child choose to forgo traditional college education or not require the funds set aside, you can easily change the beneficiary to another child or relative. If you’re skeptical of a 529, consider a Roth IRA if your income limits allow. Although typically used for retirement, the Roth IRA has an exception where you can withdraw your contributions from the account at any time tax- and penalty-free for qualified education expenses. The remaining money can be collected in your retirement. If saving for retirement has not been a priority, it’s time to get aggressive. Pare down costs where possible and take advantage of catch-up contributions. People who are 50 or older can contribute an extra $6,000 to their 401(k) or an extra $1,000 to an IRA this tax year. You want to help your kids, but once you set the precedent that it’s OK for your children to ask for money (or a contribution toward college), they may feel they can frequently approach you later in life for funds. While you should talk with your child about potential majors and career paths, it’s important also to add financial conversations into the mix. For more tips, and to learn more about personalized student loan solutions, visit www.collegeavestudentloans.com. • Classifieds The deadline for Classified Ad submission and payment is Noon on Tuesday to appear in Thursday’s paper. Advertisements must be submitted in writing by mail, fax or email. You may pay by cash, check, or credit card (Visa or M/C over the phone). Errors: Please check your advertisements immediately. Any corrections and/or changes in an ad must be requested prior to the following Tuesday deadline in order to receive a credit. A credit will be issued for only the first time the error appears. Multiple runs will only be credited for the first time the error appears. No credit will be issued for an amount greater than the cost of the advertisement. Beware: Employment offers that suggest guaranteed out-of-state or overseas positions may be deceptive or unethical in nature. If you have any doubts about the nature of a company, contact the local office of the Better Business Bureau, (213) 251-9696. Herald Publications does not guarantee that the advertiser’s claims are true nor does it take responsibility for those claims. Hawthorne Happenings News for the City of Good Neighbors from an Old Guy named Norb Huber Underground Hawthorne? With the national news media watching their proceedings, the Hawthorne City Council took steps last week to approve Elon Musk’s Boring Company’s plan to dig a tunnel from Crenshaw to Hawthorne Blvd. under 120th Street. Someone I talked with mistakenly thought that it would travel close to the old Cockatoo Inn site on Imperial Highway. There are some people out there that still think that maybe Jimmy Hoffa was interned underground around the hotel back in the day. No one has proof that there was a mafia connection at the old stomping grounds for celebrity types and horse racing high rollers. We have a photo in the Hawthorne Museum of Mohammad Ali taking a swing at LA County icon, James Hahn at an event there. It is still amazing to me and many others that Hawthorne continues to make history. Elon and his history-making endeavors only adds to a wild and crazy past in the City of Good Neighbors. Many towns are excited to be the birthplace of one celebrity or one startup company. Hawthorne has given birth to so many history changers we loss track of them all. It may sound crazy but our little town has changed America and impacted the world more than any town our size. Instead of the City of Good Neighbors we should be known as the City of Movers and Shakers. Pastor John Jefferson The Veteran’s Affairs Commission of the City of Hawthorne has chosen John Jefferson as their Veteran of the Quarter and honored him at the city council meeting this past Tuesday. Rev. Jefferson served his country and is now serving his community. He is the pastor of Del Aire Assembly of God Church in Hawthorne. As a humble servant, he commented that he has “done very little”. Others disagreed and thanked him for his dedication to the youth and families of Hawthorne. Beer Quotations One of my readers thought I would enjoy a few laughs while sipping on a cold one: “There are two reasons for drinking: one is when you are thirsty, to cure it; the other, when you are not thirsty, to prevent it.” — Thomas Love Peacock, Melincourt, 1817 • “Ah, beer. The cause of and the solution to all of life’s problems.” — Homer Simpson • “I feel sorry for those who don’t drink because when they get up in the morning that’s as good as they’re going to feel all day.” — Frank Sinatra • “I would kill everyone in this room for a drop of sweet beer.” — Homer Simpson • “Beer is living proof that God loves us and wants us to be happy.” — Benjamin Franklin (since discredited) • “He was a wise man who invented beer.” — Plato • “The church is near, but the road is icy. The bar is far away, but I will walk carefully.”— Russian proverb • “Beer Speaks. People Mumble.” — Tony Magee, Lagunitas Brewing Good Neighbors Day coming soon! Good Neighbors Day and the grand opening of the new Hawthorne Museum is fast approaching. It will be held on Saturday, September 16 at Jim Thorpe Park. There will be live music, the John Baker Memorial Car Show, a bike show and much more. Please save the date so that you will not miss out on this great Hawthorne community event. Moving Vacation Okay, yes we were successful in moving all of the boxes, furniture and “stuff” into my daughter’s new house up in Roseville. Yes, their swimming pool had water. Yes, it felt good to cool off after lifting boxes in 104 degree heat. Yes, I got a little tired. Yes, I’m glad to be back in Hawthorne. Yes, I miss our two grandkids who used to live right around the corner from us here in the Ramona Tract. Our four year old grandson, Wyatt, is attending a Lutheran preschool there and came home last week and announced that he wants to be a pastor when he grows up. He loves singing the songs in their weekly chapel service. Who knows? Maybe he will be a real pastor, not like his papa who only is a want-to-be pastor. The good Lord blesses us every day with so much to be thankful for. Whatever you are doing or wherever you are, always “stay close to Jesus” and you will have that peace this surpasses all of our understanding. Peace to all of you as you sip on your cold ones this summer. • (If you do enjoy my weekly column, please shoot me an email. I love to hear from my readers. – norbhuber@gmail.com) Are You Still Paying Too Much For Your Medications? You can save up to 97% when you fi ll your prescriptions with our Canadian and International prescription service. Get An Extra $15 Off & Free Shipping On Your 1st Order! Call the number below and save an additional $15 plus get free shipping on your fi rst prescription order with Canada Drug Center. Expires June 30, 2017. Offer is valid for prescription orders only and can not be used in conjunction with any other offers. Valid for new customers only. 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Condo for Lease Condo for Lease: 2 Beds/2 Baths; Beautiful and bright south-facing, top floor unit; Master suite with walk-in closet; Laundry hook-ups; $2995/ month – Contact 310-877-2374 Employment Software Engineer (#6579): Bach deg (or forgn equiv) in Comp Sci, MIS, Math, Engnrng or rel + 1 yr exp. Use Unix, C++, obj orient prog, relational DBs to create, design, develop, code, test, debug, implement software progs across multiple platforms. F/T. ITG Software Solutions Inc. El Segundo, CA. Send CV to: Sheryl Weaver, ITG, 1 Liberty Plaza, 165 Broadway, New York, NY 10006. No calls/recruiters/visa sponsorship. For Rent ONE UNIT LEFT! Remodeled 2 bed 1 bath unit in West ES! Walk to beach, dining and shopping! Electrolux stainless appliances, D/W, fridge, oven & stove, & micro. too! Recessed lighting w/dimmers, wood laminate floors throughout. Upper unit, bright and cheery! 1 car garage parking plus 1 driveway space. $2,600 S & L Property Management 310/350-4096 For Rent Coming Soon! Duplex, 2 bedroom 1 bath w/garage. W Maple $2500 Large family home-4 bedroom 2 1/2 bath. W Acacia $4200 Duplex, 3 bedroom 2 1/2 bath w/2 car garage. Eucalyptus $3800 S&L Property Mgmt 310-350-4096 Sheri Skulick Garage Sale 518 Eucalyptus Drive, El Segundo. In the alley. Fishing, camping, clothing, housewares. 9am-1pm. Sat 8/12. House for Rent 4BD/3BA - 2 story house, 2 car garage, fenced yard, all hardwood floor. Remodeled kitchen, new paint, sound proof system, walk to beach. $4,000/month. 310-663-9898 To appear in next week’s paper, submit your Classifed Ad by Noon on Tuesday.
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