May 6,2007 - Westland Public Library

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A4- (*) Observer & Eccentric i Sunday, May 6,2007 www.hometownllfe.com o o Tl 5 o 3 0) 3. I 3 HAT'S A SWEETER GIFT FOR MOTHER'S DAY? JEWELRY OR A DINNER OUT? HOW ABOUT BOTH! (A PERFECT GIFT FOR GRADUATION, BIRTHDAYS, AND ANNIVERSARIES TOO!) Until May 12, make any new jewelry purchase of $100 or more, at either Orin Jewelers location, and receive a FREE $20 gift certificate for dinner at Amantea (Garden City) or Tirami Su Italian Restaurant (Northville). A very sweet . t ^ \ A V»,£ ttf** -*_ • 'Jk^ (* {• indtM MSTORANTB ITALIANO N ORTH VILLE - T01 East Main Street at Center 248.349.6940 GARDEN CUT 29317 Fqrd Road at Middlebelt 734,422.7030 Store Hours:- Monday thru Wednesday 1 0:00am - 6:00pm Hearts On Fire Illusion Pendant Thursday & Friday 10:00am - 8:00pm -• Saturday 10:00am - 5:00pm • Closed Sundays www.ormieweiers.com AMERICAN GEM S O C I E T,Y"
www.hoRietownlife.com LOCAL NEWS Observer & Eccentric | Sunday, May 6,2007 (W) Dear Rick: My niece is graduating from high school next month and as a present I would like to invest something for her college education. I have $150 to invest. Is there anything ! can do? I think it's great that you help her with college, a gift that will last a lifetime. I would recommend ~~ ~ that you consider opening an account for her using the Michigan Education Savings Plan (MESP). It allows you to invest money that grows tax Rick Bloom free. When the money is withdrawn and used for college expenses, there are no tax consequences. This is an ideal gift for your niece. To open a MESP account, visit the Web site at www.misaves.com, or call tollfree number, (877) 861-MESP, (877) 861-6377- The beauty of the MESP is it only takes $25 to open an account. In addition, you do not have to worry if other people are opening accounts for your niece. An individual can have an unlimited number of accounts in the MESP, which is know as a 529. plan. I like the MESP because of no commissions, low cost, flexibility and affordability. Unlike many 529 plans that are sold by the brokerage industry, MESP is commission-free and has one of the lowest management fees in the country. MESP can be used for basically any public or private institution in the country. The money can also for room and board, books and fees. The high school graduate may prefer another gift, however, a gift of helping someone with a college education is one of the best gifts anyone can give. Dear Rick: I am 40 years old, married, no kids and will be leaving my job next month. My new job does not offer any pension or a 401(k) plan. I plan to invest 15 to 20 percent of my income for OUT OF SCHOOL •w.a.c. Mi Iic#2i04176225 Education retirement and in addition, I need to rollover my old 401(k) plan; any suggestions? An excellent company to directly transfer your IRA is Vanguard which offers a wealth of mutual funds and has one of the best customer service departments in the industry. The key is to have Vanguard directly transfer the money from the old 401(k) plan into the Vanguard IRA. By directly transferring the money, there will be no tax consequences and that money can continue to grow on a taxdeferred basis. I recommend you divide the money as follows: -Vanguard Index 500 - 20 percent -Vanguard International Growth -10 percent -Vanguard International Value -10 percent -Vanguard Small Cap Index - 20 percent -Vanguard Wellesley Income - 20 percent -Vanguard Wellington - 20 percent If you and your husband qualify for Roth IRAs, take any new money that you are. going to invest and invest in a Roth IRA. It allows money to grow on a tax-free basis. In addition, money in a Roth IRA is not subject to required minimum distributions at age 70 1/2. In your situation, I would recommend the T. Rowe Price Spectrum Growth Fund, (800) 638-5660, www.troweprice.com. T. Rowe Price has a program that allows, you to invest as little as $50 a month as long as you sign up for their automatic investment program. If you do not qualify for a Roth IRA, then invest in T. Rowe Price Spectrum Growth Fund in a regular account. It's important to save for retirement and there's is no time like the present to start an investment program. Rick Bioom is a fee-only financial adviser. Observer S Eccentric readers can submit questions at moneymatters@hometownlife.com. For more information, visit Rick's Web site at • www.bloomassetmanagement.com. You can hear Rick from noon to 3 p.m. Sundays on WDTK1400 AM. * CALL US 24/7! 1 TOLL FREE!* ment board, Bianconi and ' Reddy were first appointed by ' former Mayor Robert Thomas.; Leftwich is the fire union appointee and Kroll the police union appointee. By city charter, Smith, as finance director, rounds out the board. "I know this board does not in any way, shape or form go to the extreme when stufflike '', this is going on," Smith said, ; referring to the Hawaii conference. "They're very reasonable." dclem@hometownlife.com I (734} 953-2110 • % OPEN ;i WON. SAT. t 9-9 : r^ * *\$ \ Supermarket ' : 'v* ** TM " SAVINGS \r Sale Starts Monday May 7th - Mc « 13th USDA Select Bo-.if - 6 Steak Value Pack ^ • ^ Fresh Ground rt e«f Family Pack j tiesb esh Skinless rt^-cie:* **. \ 5W0W! uiini^ Pack Tender Juicy b©ne!ei JSDA Rib Eye Etanele^ Great on the Grill! From The Deli Fresh sliced - Lipori Reasted Turkey $«£99 '»•* -"it* "•"•^ j" Fresh sliced- Tender mi WSJMSMBSSKfiS'JW^ Check our website for additional specials! Mikes-maiketplace.Gom !!
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May 6,2007 - Westland Public Library

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