7 months ago

Albemarle Tradewinds January 2016 Final5

January 2016

Are You Prepared for

Are You Prepared for Financial Disasters? Submitted by Chuck O’Keefe “Be prepared” is the Scout motto, and it’s also pretty good advice for anyone seeking to guard against various disasters – including financial ones. Here are some events that can have serious financial consequences, along with suggestions on preparing yourself: • Loss of employment – If you were to lose your job, your family might have to struggle financially to make it until you’re employed again. To protect against this potential threat, try to build an emergency fund containing three to six months’ worth of living expenses. That’s a lot of money, of course, so it will be challenging to build such a fund – but try to contribute something each month to a liquid, low-risk account. Without such an emergency fund, you might be forced to cash out your 401(k) or other retirement plan to pay for your living expenses during your period of unemployment. • Loss of health – If you were ill or injured, you might be out of work for weeks or months. Your employer may offer you some type of disability insurance as an employee benefit, but it might not be sufficient. So you may also want to purchase an individual plan to cover as much of your after-tax income as possible. You’ll have the flexibility to create a policy that is tailored to your needs, budget and overall financial goals. However, policies vary widely in cost and benefits, so you’ll want to shop around for the coverage that best meets your needs. • Loss of life – Death may be an uncomfortable topic to discuss. However, if you were to pass away, it would be emotionally devastating to your loved ones – but it could also be financially catastrophic. Would your family still be able to pay the mortgage? Could your surviving spouse afford to send your kids to college? Without life insurance, your death could leave your family without the ability to cover financial obligations. The exact amount you require depends on a variety of factors, such as your family’s expenses, size of family, savings needs over time, and so on. Generally speaking, you can choose between two broad categories of insurance: term and permanent. Term insurance, as the name suggests, is designed for a specific number of years and only provides a death benefit. Permanent insurance is typically more expensive, because, in addition to the death benefit, it offers a savings component. A financial professional can help guide you through your options to determine which one is appropriate for your needs. • Loss of property – If you own a home, you already have homeowners insurance, but it doesn’t hurt to periodically check your policy to make sure it’s kept up with any improvements or additions you’ve made to your house or other property. If you’re under-covered, and had to pay out-of-pocket for some major damage, you might be forced to dip into your long-term investments. And while you’re making sure your property is covered, you might also want to consider adding “umbrella” coverage, which can provide extra protection to you in case someone is injured at your home, or even at an event at which you may be in charge, such as a Scout meeting. With luck, you can avoid all the threats to your financial security and that of your family. But you can’t count on always being lucky – so you need to take “financial disaster preparedness” measures soon. Chuck O’Keefe is a Financial Advisor with Edward Jones in Elizabeth City. 252-335-0352 Halstead @ GAATS, You Relax, We do the Tax el CinoCa eHringHaus MCCartHur Mall 1502 Ehringhaus St. Bookkeeping, Payroll Services Income Tax, IFTA, etc. Free ITIN # w/paid Tax Return “LIBRE ITIN” 10% $50 DIScouNT GAATS, LLC Godwin and Associates Tax Service, LLC TAX SERVICE 252-331-5859 Elizabeth City Pasquotank County The Elizabeth City-Pasquotank County Senior Center “Serving the Young at Heart, Adults 55 or Older” The Senior Center offers a wide variety of exciting programs, trips and activities for the senior citizens of Elizabeth City and Pasquotank County. We strive to create a “family” atmosphere that promotes social, mental, physical and emotional overall well-being. Lauren Turner Located next to Dunkin’ Donuts Senior Center Coordinator in Elizabeth City NC Senior Center Phone: (252)337-6661 or (252)337-6662 22 Albemarle Tradewinds December 2015

When you read this article it will be safe to say the hunting season for deer in the State of North Carolina will be over. I hope many of you had a successful season. There are some areas in the state , however, that continue to hunt due to the urban archery season. To those of you with that opportunity I wish you continued success. As a bowhunbter you still have time to continue to hunt small game, such as squirrel and rabbit. These can be fun and challenging to hunt with the bow and arrow. The NCBA has scheduled for January 24 the annual NCBA rabbit hunt at the intersection of US 158 and HWY 119 in Caswell County. If you have never been, come on out, this hunt is done with archery equipment only. Lunch is usually provided but you can bring your own if you like. Check the NCBA website for more information. For those who are no longer hunting , now is the time to take stock of your hunting season. Did your equipment hold up the way you expected? If not, what happened? What can you do to improve or replace it? How was your accuracy in the filed? Now is the time to start setting up your practice sessions. Did you have your stands placed in the proper spot to get an accurate shot? Were your clothes adequate to keep you comfortable while on your stand ? Did you practice while wearing your hunting clothes? Did you practice shooting while in your stand? There are a myriad of things to ask yourself as review your season. Then determine a course of action to be more prepared for the next season. Speaking of next season, whether it be bowfishing ( agreat spring and summer activity) or turkey hun ting (spring), You need to continue to keep your equipment in proper order and hone your shooting skills with your bow. I am sure you have friends or children you could introduce to the sport of archery. Now is the time to peak their interests even further.Introduce them to the types of bows you use, whether they are compounds or recurves and longbows. Set up some hay bales in your yards or some other type of backstop, tie some balloons to the bales, stand back and let them shooy at the balloons. When the balloon bursts on arrow contact, the shooter gets innstant gratification, (This is extremely helpful when introducing a newby to the sport.) Take them to an indoor range, introduce them to the range manager, check out the different style of bows on hand. Proper bow set up is a must in archery and the range owner or shop owner will be glad to help in that regard. Check the web for 3-D archery shoots. You will find some here in our area and throughout the state. I hope you will have made or will make a point of attending one of the NCWRC planning meetings that were listed in our last edition. Remember , we are in District 1. However, you can attend any of the meetings if you miss the one in your area. This is your opportunity to question, find out information and observe what the NCWRC is doing with the game laws in our state. Schedule of upcoming events: January 24,2015: Annual Rabbit Hunt February 27 – 28, 2015: Dixie Deer Classic & NCBA Banquet. Banquet will be held on the evening of Feb 28th at 6 PM in the Kerr-Scott building. May 15 – 16, 2015: NCBA Freshwater Bowfishing Tournament. Jamie Brady Coordinator, 336-669-0307. June 19 – 20, 2015 NCBA Salt Water Bowfishing Bash at Dudley’s Marina: Joey Thompson Coordinator, 336-972-1486. I am one of your District 1 NCBA Wildlife representatives. Please feel free to call me if you have questions regarding the NCBA. We are there for you, the bowhunter. My phone number is 252-267-5437. Respectfully submitted, Talmage Dunn Albemarle Tradewinds December 2015 23