Mountain Times - Volume 48, Number 21: May 22-28, 2019

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34 • COLUMNS The Mountain Times • May 22-28, 2019 Should I sacrifice my retirement to support my children? Money Matters By Kevin Theissen Most parents will say that they want to help their children as much as they can and give them every advantage. But what if “every advantage” comes at the expense of the parents’ retirement savings and investments? According to a survey by NerdWallet, 80 percent of parents are covering or have covered an adult child’s expenses after the child turned 18. That generosity can cost parents up to $227,000 of their retirement savings. Can you afford to press pause? Some parents who are still supporting adult children rationalize the expense by telling themselves they’re “just pausing” their retirement plan. This is especially common of parents who want to help with a major life transition, like college tuition, a first home, a first car, or a wedding. However, while your adult child can apply for scholarships, sign a lease, or take out a mortgage, there are no “scholarships” for retirement. If supporting an adult child causes you to slip below your baseline budgetary needs or savings goals, it can be difficult to catch up. Even smaller expenses add up in the long run. You may think you’re “only” giving your young adult $30 per month as they continue to piggyback on a family cell phone plan. But if that $30 would have gone into an IRA, 401(K), or investment account, you’re not just losing $30 every month – you’re losing out on potential capital gains and compounding interest that can add up to thousands of precious retirement dollars. Check their budget If you do decide to help an adult child, it’s a good idea to take steps to ensure your helping doesn’t turn into a lifestyle subsidy. Depending on the nature YOU’RE NOT JUST LOSING $30 EVERY MONTH – YOU’RE LOSING OUT ON POTENTIAL CAPITAL GAINS AND COMPOUNDING INTEREST THAT CAN ADD UP. Downtown hotels When I read in the Rutland Herald that a hotel in downtown Rutland is under consideration it made me think of the success of two other downtown hotels from my era. When you are a senior citizen you tend to think that things you remember firsthand are already old. Often you get a surprise to learn that they were in existence long before your time. In this case, I learned that the Looking Back By Mary Ellen Shaw Bardwell House on the corner of Merchants Row and Washington Street was built in 1851 by Otis Bardwell. Some sources mention that E Foster Cook, his son-in-law, was also involved in the building and operation of the hotel. The Berwick Hotel on the corner of Center and Wales Street was built in 1868 by Clark Richardson. Both hotels had famous guests. In the summer of 1864 Mrs. Abraham Lincoln and her two sons and their maid spent a few days of summer vacation at the Bardwell House. The most frequent guests at this hotel came from the cities of Montreal, NYC and Boston. An unusual trend from that era is apparent in the hotel register. It lists dinner guests who often booked a room that was either used for a party or to conduct business. In 1917 the Bardwell House was renovated but its grandeur was shortlived when a fire erupted on Dec. 30 of that year. It was 26 degrees below zero that night making it hard to fight the fire. Both the exterior and interior were soon coated in ice. The roof fell in but the walls didn’t collapse. The wing sections on both the Merchants Row and Washington Street sides had little damage. The Bardwell was restored to its former glory after the fire. I remember many happy Saturday nights in the ’70s sitting at a table in the Pheasant Lounge of the Bardwell with my husband, Peter. We loved listening to local musician Johnny Peterson play his guitar. The hotel was also a popular spot for a nice dinner, special occasion parties and wedding receptions. Today the exterior of the Bardwell House looks very much like the magnificent structure of yesteryear. However it is not a hotel. It is currently a 75-unit HUD apartment building. The Berwick Hotel which was located on the corner of Center and Wales Street had 110 guest rooms, ballrooms, two restaurants and several shops. Perhaps the best remembered is Cinderella Sweets. The candy store had a large window on the Wales Street side of the building. Back in the ’50s when I was a kid I spent quite a few hours watching the candy makers, dressed in white, prepare “sweet treats”. Rock candy was one of my favorites and I have a few fillings in my teeth that probably were caused by that! In the ’50s the Berwick was a popular spot for meetings, banquets and other events. Many famous people stayed there including U.S. presidents, Coolidge, Roosevelt and Cleveland. The hotel was renamed “The Town House” shortly before a devastating fire broke out on January 7, 1973. Lowell Thomas, when he skied at Pico, would sometimes air his evening newscast from the Berwick Hotel. The late Erling Omland of Rutland, a well known skier, made reference to this in a publication but no time frame was mentioned. of your financial support, it might make sense to get a good understanding of your child’s spending patterns. Chances are they don’t have a budget you could look at but ask them what their typical expenses are each month. You have every right to make sure that your child’s financial need isn’t the result of unnecessary creature comforts, lavish vacations, etc. By getting a sense for their spending, you might be able to help your child find Money Matters, page 38 Looking back, page 38 CROSSWORD PUZZLE CLUES ACROSS 1. Stores 6. Worthless entertainment 9. Where scientists work 13. Pretty flower 14. A way to act 15. Double-reed instrument 16. Type of acid 17. Famed astronomer 18. Smooth, shiny fabric 19. Profited from 21. Secret clique 22. Infections 23. Crony 24. Teens go here every day (abbr.) 25. Suitable 28. Fresh Price of __ Air 29. Ancient city of Egypt 31. Basketball move 33. Polished 36. There’s a north and a south 38. Egg of a louse 39. Once-ubiquitous department store 41. Portray precisely 44. Thick piece of something 45. Period between eclipses 46. Indicates near 48. Investment account 49. England, Scotland, N. Ireland, Wales (abbr.) 51. Beak 52. Void of skill 54. Walked back and forth 56. A display of passion 60. Geological times 61. Type of restaurant 62. Spacious 63. Edible seaweed 64. Utah city 65. Tropical tree 66. Nervous tissue compound 67. Body part 68. Muscles and tendons CLUES DOWN 1. Draw out wool 2. Give someone a job 3. Chemical and ammo manufacturer 4. Footsteps 5. The Palmetto State 6. Books have lots of them 7. Diverse Israeli city 8. It’s mightier than the sword 9. Confines 10. First month of the Jewish ecclesiastical year 11. Idaho’s highest peak 12. Prevents from seeing 14. Determine time 17. Father children 20. Tab on a key ring 21. Dog genus 23. Peter’s last name 25. Request 26. Walk heavily 27. Allowances 29. English football squad 30. Fish-eating aquatic mammals 32. South Pacific island region 34. Unaccounted for 35. Small taste of whiskey 37. Ventilated 40. Helps little firms 42. One of means 43. Fencing swords 47. Inches per minute (abbr.) 49. Turn upside down 50. S. African semi desert 52. Dutch names of Ypres 53. Instruct 55. Oily freshwater fish SUDOKU 56. Italian river 57. Sneaker giant Each block is divided by its own matrix of nine cells. The rule for solving Sudoku puzzles are very simple. Each row, column and block, must contain one 58. The men who man a ship 59. Some need glasses of the numbers from “1” to “9”. No number may appear more than once in any 61. Body part row, column, or block. When you’ve filled the entire grid the puzzle is solved. 65. Indicates position Solutions on page 40 Solutions on page 40
The Mountain Times • May 22-28, 2019 COLUMNS • 35 Good things in little packages By Dom Cioffi A couple years ago, as I was recovering from cancer, my wife began taking me out for afternoon walks. I was just starting to get some strength back, which allowed me to get out of bed for short periods to move around. Initially, I could make it to the end of the driveway and back, but as the weeks progressed, I made it further and further around the neighborhood. These walks were therapeutic not only physically, but also mentally. Knowing that I could push myself a The Movie Diary By Dom Cioffi little further up the road showed me that I was indeed improving even though I still felt lousy. On one particular afternoon, we were walking past a neighbor’s house – an elderly woman who we’d waved to on occasion, but had never spoken with. She was in a small flower garden near the front of the house poking around with a trawl, oblivious to our presence. The house was neat, but looked like it had seen better days. I’d always figured that the woman’s husband had died and now she was having trouble with the upkeep of the property. Next to the sidewalk near her mailbox sat a mid-sized cardboard box with a paper sign that said “Free.” I looked down as we walked by and noticed a pile of books. Being someone who loves to read, I couldn’t help but stop to see the selection. My wife was talking on the phone, so she just stood beside me as I sifted through the box. There were books on gardening and flower arranging, as well as several titles on home décor. Most of the books were dated, looking like they were published in the mid-1980s or earlier. I was just about to walk away when I saw one small book tucked into the corner of the box. I reached in, grabbed it, and turned it around so the cover faced me. In big letters, it read, “The Alchemist.” I was taken aback that this book was included with the others, given that it was a novel living amongst a pile of nonfiction titles. It seemed wholly out of place by topic, but also because it was a fairly recent copy. I had always heard of “The Alchemist” and its literary significance, but I had never had the urge to read it. However, at that moment, in my condition, on the side of the road, I made the decision that this was the exact right time for me to read this book. I tucked it under my arm and glanced toward the woman to express thanks. She was still tending to her garden, so we just wandered away. Over the course of the next few weeks, I read the book slowly. I was still in a lot of pain so it was difficult to sit still enough to read, but I was resilient. “The Alchemist” is an interesting little story. Written in only two weeks by Brazilian author Paulo Coelho, the plot revolves around a young shepherd who is driven to visit the pyramids of Egypt after having reoccurring dreams about finding treasure there. The book was first published in 1988 by a small HE DECIDED TO GIVE HIS ENTIRE LIFE OVER TO SEEING THE BOOK THROUGH TO WORLDWIDE PUBLICATION. JOHN WICK 3 publishing house in Brazil. It sold relatively well in its first year, but the publisher decided to give Coelho back the rights. Discouraged by this outcome, Coelho wandered into the desert in an attempt to heal from the setback. A few weeks later, he decided to give his entire life over to seeing the book through to worldwide publication. That eventually happened as the book went on to find a global audience and critical acclaim as an international bestseller. I found the book and its inspiring tale of personal triumph to be the exact story I needed to read at that moment in my life. It’s funny how the universe conspires to put certain things in your path at just the right time. This week, I saw the “John Wick: Chapter 3 - Parabellum” starring Keanu Reeves. I’m not sure I was supposed to see this film at this time, but I’m glad I did as it was another great addition to the wildly popular film series. In this film, John W ick finds himself on the streets of New York with a huge bounty on his head and a bevy of bad guys looking to cash in. This is a superbly violent film that is delivered in such a way that it nearly resembles a piece of artwork. I’m normally not a fan of this genre of film, but I have to admit, the appeal of Keanu and the fast-action sequences had me glued to this story throughout. A blistering “B+” for “John Wick 3.” Got a question or comment for Dom? You can email him at moviediary@att.net. Mother: Jupiter-Saturn factor is big continued from page 33 be an astrological middle ground - that middle ground is occupied by Jupiter and Saturn. Neither body moves fast enough to be considered a fleeting influence and their orbits aren’t slow enough to put either one in the generational category – so where do they fit, relative to each of us as individuals and to our experience of ourselves? “With nothing but the toils of reality to justify being human, life becomes a tiresome march from the cradle to the grave. WITH NOTHING BUT THE TOILS OF REALITY TO JUSTIFY BEING HUMAN, LIFE BECOMES A TIRESOME MARCH FROM THE CRADLE TO THE GRAVE. “Taken by itself what we experience every day has no real value. And the leap that has to be made betweenthat level of experience and the idea that there is actually some larger purpose to it all can’t be addressed by either the inner or the outer planets – because they govern entirely different processes and there is a gap between the two that has to be bridged before any of us can access the meaning in our lives. “It is Jupiter and Saturn who determine whether or not we are capable of translating the mundaneness of existence into something that fortifies our faith in the idea that all of what we face on a daily basis has some purpose to it. They are there to help us integrate our outer and inner experience in ways that prompt us to either expand and become part of the universal plan, or stay within the limits that the personal planets define for us. It could be said that our personal growth, what we decide to do about it, and whether or not we have the power to do anything about it, is largely controlled by the Jupiter-Saturn factor.” The Jupiter-Saturn factor is a big deal. By December 2020, the two planets will be whirling through Capricorn, in the same neighborhood with Pluto, who also happens to be in that sign. What does this mean for us? From my perspective it has a lot to do with getting real enough about who we are to actually walk our talk and own the right to say, we truly are spiritual beings having a human experience. Let me leave you with that and invite you to take what you can from this week’s ‘scopes. Please call or check us out online for this week’s movie offerings. Movie Hotline: 877-789-6684 WWW.FLAGSHIPCINEMAS.COM
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