The Forest Lake Times http://forestlaketimes.com The Forest Lake Times covers community news, sports, current events and provides advertising and information for Forest Lake, Minnesota. Fri, 19 Dec 2014 23:12:16 +0000 en-US hourly 1 Joyce A. Goodrich http://forestlaketimes.com/2014/12/19/joyce-a-goodrich/ http://forestlaketimes.com/2014/12/19/joyce-a-goodrich/#comments Fri, 19 Dec 2014 23:12:16 +0000 http://forestlaketimes.com/?p=60466 Joyce Ann Goodrich, age 77, of Forest, WI died unexpectedly on Wednesday, December 17, 2014 at Amery Regional Medical Center.
She was born the daughter of Bill and Bert (Swanson) Relander on March 28, 1937 in New Richmond. In 1956, she married Richard Goodrich. She was an educator, teaching Elementary School for many years. Joyce was a member of Immanuel Lutheran Church. She very active and devoted to her church, she played piano for services and programs. Joyce was also member of the Order of the Eastern Star and she enjoyed raising cattle and playing bridge. Her grandchildren and great-grandchildren, meant everything to her. Joyce was the family matriarch and had many special friends around the area. She will be greatly missed by all who knew her.
Joyce was preceded in death by her husband, Richard (1996); parents, Bill and Bert Relander; sister, MaryJean Jagow; grandson-in-law, John Forsblade.
She is survived by her beloved friend, Don Eliason; sons, Mark (Claudine), John (Sheila); grandchildren, Christine Forsblade, Melinda (friend, Ralph Buhr), Jesse (friend, Carlee Williams), LauraLee Hatch, Daniel Goodrich, Brian (friend, Laci Moe) Goodrich; great-grandchildren, Wyatt Johnson, Joshua Forsblade, Leana Goodrich, Madasin Hatch, Riley Hatch; many relatives and friends.
A memorial service will be held Monday, December 22, 2014 at 11 a.m. at Immanuel Lutheran Church (2980 201th Ave.) Forest, WI. Visitation will be held Sunday, December 21, 2014 from 2-5 p.m. at Bakken-Young Beebe Chapel in New Richmond with an Order of the Eastern Star Service at 4:30 p.m. Visitation will also be Monday from 10-11 a.m. at the church. Private interment will be at Elim Lutheran Church Cemetery in Scandia, MN. Arrangements are with Bakken-Young Funeral & Cremation Services Beebe Chapel of New Richmond.

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How to Fix Social Security http://forestlaketimes.com/2014/12/19/how-to-fix-social-security/ http://forestlaketimes.com/2014/12/19/how-to-fix-social-security/#comments Fri, 19 Dec 2014 21:01:04 +0000 http://forestlaketimes.com/?guid=269ba49afa3e8568083bf62dcb1ea55c We often read reports from the Social Security Administration’s reviews of the status of its trust fund and predictions that in 20 years funding will exist to pay 77 cents on the dollar of promised benefits. So far this revelation produces from policymakers no actual steps to fix the system. What can we do to fix Social Security?

As future recipients of benefits, we can take some actions now to reduce reliance on our eventual benefits. This won’t fix the system’s underfunding problem but may help your own situation.

Push for pensions. As workers, we may enjoy more power than we realize to push our employers to consider offering pensions again. A cost tradeoff for the employer compared with costs of other benefits, a pension can still be an attractive tool for employee retention.

Hard but not impossible to implement, as Connecticut recently proved for the state’s municipal workers.

Increase other retirement savings. Maxing out your 401(k) contributions and choosing proper investment diversification are good ways to supplement a dwindling or reduced Social Security benefit. You can also contribute to a Roth individual retirement account (within limits) and make non-deductible contributions to your 401(k) of some significant amounts (I recently wrote about this).

What policy changes might fix Social Security? Congress can take plenty of actions, including the following few that while tough do stand to resolve Social Security’s underfunding more or less permanently.

Eliminate the earnings cap. Currently only a certain amount of your annual earnings incur Social Security tax: $118,500 in 2015, up from $117,000 this year. Earnings above that limit are not subject to the combined 12.4% (employer and employee) Social Security tax.

Eliminating this limit or cap might pump significant additional funds into the Social Security tax revenues annually. Right now this cap covers approximately 83% of all earnings – leaving up to 17% of all earnings untaxed.

Increase the tax rate. The Social Security tax rate noted above comprises 6.2% from your gross pay and 6.2% from your employer. Any increase in this rate improves the trust fund.

Means testing. Folks with significant other sources of retirement income can often get by very well with reduced benefits or even without benefits altogether. After all, this insurance program supposedly provides benefits to retirees who lack means to completely provide for themselves.

You, like many others, may find it frustrating that saving for yourself potentially puts you in a position to receive reduced benefits. To save all of Social Security, that’s the sort of tough decision we as a society must make.

Increase retirement age. In 1983, the retirement age for Social Security rose from 65 to 66 for folks born between 1943 and 1954, and to 67 for folks born in 1960 or later. It’s not out of the question to gradually increase this age another year, to 68 for folks born in 1966 or later.

At the other end of the spectrum, the early retirement age of 62 dates from when the Social Security program began. Changing this age might likely result in some positives for the trust fund – but leaving it the same also sometimes insidiously produces even smaller benefits for folks who file early.

Probably no steps to fix the system will be pleasant: It’s never easy to give up what you think you paid into and earned. Problem is, if we don’t work to repair Social Security we will all certainly give something up, starting with an estimated at 23% of all our benefits.

Follow AdviceIQ on Twitter at @adviceiq.

Jim Blankenship, CFP, EA, is an independent, fee-only financial planner at Blankenship Financial Planning in New Berlin, Ill. He is the author of An IRA Owner’s Manual and A Social Security Owner’s Manual. His blog is Getting Your Financial Ducks In A Row, where he writes regularly about taxes, retirement savings and Social Security.

AdviceIQ delivers quality personal finance articles by both financial advisors and AdviceIQ editors. It ranks advisors in your area by specialty, including small businesses, doctors and clients of modest means, for example. Those with the biggest number of clients in a given specialty rank the highest. AdviceIQ also vets ranked advisors so only those with pristine regulatory histories can participate. AdviceIQ was launched Jan. 9, 2012, by veteran Wall Street executives, editors and technologists. Right now, investors may see many advisor rankings, although in some areas only a few are ranked. Check back often as thousands of advisors are undergoing AdviceIQ screening. New advisors appear in rankings daily.

 

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We often read reports from the Social Security Administration’s reviews of the status of its trust fund and predictions that in 20 years funding will exist to pay 77 cents on the dollar of promised benefits. So far this revelation produces from policymakers no actual steps to fix the system. What can we do to fix Social Security?

As future recipients of benefits, we can take some actions now to reduce reliance on our eventual benefits. This won’t fix the system’s underfunding problem but may help your own situation.

Push for pensions. As workers, we may enjoy more power than we realize to push our employers to consider offering pensions again. A cost tradeoff for the employer compared with costs of other benefits, a pension can still be an attractive tool for employee retention.

Hard but not impossible to implement, as Connecticut recently proved for the state’s municipal workers.

Increase other retirement savings. Maxing out your 401(k) contributions and choosing proper investment diversification are good ways to supplement a dwindling or reduced Social Security benefit. You can also contribute to a Roth individual retirement account (within limits) and make non-deductible contributions to your 401(k) of some significant amounts (I recently wrote about this).

What policy changes might fix Social Security? Congress can take plenty of actions, including the following few that while tough do stand to resolve Social Security’s underfunding more or less permanently.

Eliminate the earnings cap. Currently only a certain amount of your annual earnings incur Social Security tax: $118,500 in 2015, up from $117,000 this year. Earnings above that limit are not subject to the combined 12.4% (employer and employee) Social Security tax.

Eliminating this limit or cap might pump significant additional funds into the Social Security tax revenues annually. Right now this cap covers approximately 83% of all earnings – leaving up to 17% of all earnings untaxed.

Increase the tax rate. The Social Security tax rate noted above comprises 6.2% from your gross pay and 6.2% from your employer. Any increase in this rate improves the trust fund.

Means testing. Folks with significant other sources of retirement income can often get by very well with reduced benefits or even without benefits altogether. After all, this insurance program supposedly provides benefits to retirees who lack means to completely provide for themselves.

You, like many others, may find it frustrating that saving for yourself potentially puts you in a position to receive reduced benefits. To save all of Social Security, that’s the sort of tough decision we as a society must make.

Increase retirement age. In 1983, the retirement age for Social Security rose from 65 to 66 for folks born between 1943 and 1954, and to 67 for folks born in 1960 or later. It’s not out of the question to gradually increase this age another year, to 68 for folks born in 1966 or later.

At the other end of the spectrum, the early retirement age of 62 dates from when the Social Security program began. Changing this age might likely result in some positives for the trust fund – but leaving it the same also sometimes insidiously produces even smaller benefits for folks who file early.

Probably no steps to fix the system will be pleasant: It’s never easy to give up what you think you paid into and earned. Problem is, if we don’t work to repair Social Security we will all certainly give something up, starting with an estimated at 23% of all our benefits.

Follow AdviceIQ on Twitter at @adviceiq.

Jim Blankenship, CFP, EA, is an independent, fee-only financial planner at Blankenship Financial Planning in New Berlin, Ill. He is the author of An IRA Owner’s Manual and A Social Security Owner’s Manual. His blog is Getting Your Financial Ducks In A Row, where he writes regularly about taxes, retirement savings and Social Security.

AdviceIQ delivers quality personal finance articles by both financial advisors and AdviceIQ editors. It ranks advisors in your area by specialty, including small businesses, doctors and clients of modest means, for example. Those with the biggest number of clients in a given specialty rank the highest. AdviceIQ also vets ranked advisors so only those with pristine regulatory histories can participate. AdviceIQ was launched Jan. 9, 2012, by veteran Wall Street executives, editors and technologists. Right now, investors may see many advisor rankings, although in some areas only a few are ranked. Check back often as thousands of advisors are undergoing AdviceIQ screening. New advisors appear in rankings daily.

 

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Is Your Price Right? http://forestlaketimes.com/2014/12/19/is-your-price-right/ http://forestlaketimes.com/2014/12/19/is-your-price-right/#comments Fri, 19 Dec 2014 21:00:58 +0000 http://forestlaketimes.com/?guid=50884af6a83f937815b059590adcac7a How long has it been since you evaluated your pricing strategy? If you feel your business is not as profitable as it should be, do a pricing test. It takes some courage, but you might be pleasantly surprised by the outcome.

One of my earliest mentoring clients had a very nice business, but the company just wasn’t making enough money. We spent time looking at the industry and found that my client underpriced his products by about 20%.

All we did was change the pricing policy, and this change alone more than doubled his profits. The company went from being barely profitable to having enough cash to grow. 

However, even if you survey prices of your competitors, you might still not know whether your prices are correct. Your entire industry might be underpriced without knowing it.

There is no rule that says your prices have to be the same as others’. If you provide better products and service than your rivals, you deserve to charge more. Apple is a great example of this. Even though the prices of Apple’s products are significantly higher than those of its competitors, it has no problem getting people to pay extra.

The only way to find out if your pricing is correct is to test it. Value is always in the eyes of the beholder. This means your clients are the ones who tell you whether your service and products are worth the money you charge.

If you don’t have customers saying you’re too expensive, your prices are too low. If you have customers telling you that they can’t believe how much value you deliver, it’s time for you to think about raising your prices. It’s really that simple.

You might be concerned that increasing prices hurts sales. The solution to that is to find ways to add perceived value for your customers. When you work on improving your company’s profitability, I want you to focus on how you can continually increase the value you provide. The more valuable you make your service, the more people will be willing to pay for it.

The value you add should meet the needs of your customers. If you find you have a hard time getting people to say yes, maybe you provide more than they are willing and able to pay for. Make your offering less comprehensive and lower your prices. This helps the bottom line.

Do yourself a favor. Make sure you test your pricing, survey your customers, and better yet, have them pay you more by delivering additional value.

Follow AdviceIQ on Twitter at @adviceiq.

Josh Patrick is a founding principal of Stage 2 Planning Partners in South Burlington, Vt. He contributes to the NY Times You’re the Boss blog and works with owners of privately held businesses helping them create business and personal value. You can learn more about his Objective Review process at his website.

AdviceIQ delivers quality personal finance articles by both financial advisors and AdviceIQ editors. It ranks advisors in your area by specialty, including small businesses, doctors and clients of modest means, for example. Those with the biggest number of clients in a given specialty rank the highest. AdviceIQ also vets ranked advisors so only those with pristine regulatory histories can participate. AdviceIQ was launched Jan. 9, 2012, by veteran Wall Street executives, editors and technologists. Right now, investors may see many advisor rankings, although in some areas only a few are ranked. Check back often as thousands of advisors are undergoing AdviceIQ screening. New advisors appear in rankings daily.

 

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How long has it been since you evaluated your pricing strategy? If you feel your business is not as profitable as it should be, do a pricing test. It takes some courage, but you might be pleasantly surprised by the outcome.

One of my earliest mentoring clients had a very nice business, but the company just wasn’t making enough money. We spent time looking at the industry and found that my client underpriced his products by about 20%.

All we did was change the pricing policy, and this change alone more than doubled his profits. The company went from being barely profitable to having enough cash to grow. 

However, even if you survey prices of your competitors, you might still not know whether your prices are correct. Your entire industry might be underpriced without knowing it.

There is no rule that says your prices have to be the same as others’. If you provide better products and service than your rivals, you deserve to charge more. Apple is a great example of this. Even though the prices of Apple’s products are significantly higher than those of its competitors, it has no problem getting people to pay extra.

The only way to find out if your pricing is correct is to test it. Value is always in the eyes of the beholder. This means your clients are the ones who tell you whether your service and products are worth the money you charge.

If you don’t have customers saying you’re too expensive, your prices are too low. If you have customers telling you that they can’t believe how much value you deliver, it’s time for you to think about raising your prices. It’s really that simple.

You might be concerned that increasing prices hurts sales. The solution to that is to find ways to add perceived value for your customers. When you work on improving your company’s profitability, I want you to focus on how you can continually increase the value you provide. The more valuable you make your service, the more people will be willing to pay for it.

The value you add should meet the needs of your customers. If you find you have a hard time getting people to say yes, maybe you provide more than they are willing and able to pay for. Make your offering less comprehensive and lower your prices. This helps the bottom line.

Do yourself a favor. Make sure you test your pricing, survey your customers, and better yet, have them pay you more by delivering additional value.

Follow AdviceIQ on Twitter at @adviceiq.

Josh Patrick is a founding principal of Stage 2 Planning Partners in South Burlington, Vt. He contributes to the NY Times You’re the Boss blog and works with owners of privately held businesses helping them create business and personal value. You can learn more about his Objective Review process at his website.

AdviceIQ delivers quality personal finance articles by both financial advisors and AdviceIQ editors. It ranks advisors in your area by specialty, including small businesses, doctors and clients of modest means, for example. Those with the biggest number of clients in a given specialty rank the highest. AdviceIQ also vets ranked advisors so only those with pristine regulatory histories can participate. AdviceIQ was launched Jan. 9, 2012, by veteran Wall Street executives, editors and technologists. Right now, investors may see many advisor rankings, although in some areas only a few are ranked. Check back often as thousands of advisors are undergoing AdviceIQ screening. New advisors appear in rankings daily.

 

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Plan to Prevent Bad $$ Moves http://forestlaketimes.com/2014/12/19/plan-to-prevent-bad-moves/ http://forestlaketimes.com/2014/12/19/plan-to-prevent-bad-moves/#comments Fri, 19 Dec 2014 21:00:53 +0000 http://forestlaketimes.com/?guid=db8b47c7c7ed5f08088f2d4d54965247 When managing personal finances and investments, people frequently exhibit irrational behavior for different reasons. If you’re one of these folks, be fair to yourself: It doesn’t even take a spate of market zigzags like October’s to prod you into questionable decisions.

Everyone makes choices about money nearly every day – how to earn, spend, save, invest and so on. Sometimes you pick wisely, sometimes harmfully. Some decisions, particularly those regarding when and where to invest, whipsaw from wise to harmful and back, depending on when you reached your conclusion and when you took the plunge.

Supposedly, if you can learn more about the cause and effect of your money decisions, and what around you contributes to them, you will improve your financial security. Pinpointing behaviors as either rational or irrational in the middle of the storm comes hard, though. The October market provided a convenient and timely case study to help explain why.

That month, the Standard & Poor’s 500 Index of large U.S. stocks declined 5.6% through Oct. 15 and then gained 8% through the end of the month. If sensitive to market moves, maybe you read the swift early declines and sold big – a flight perhaps revealed as irrational, given the late-October rally that continued into November.

If you sold in mid-October, you likely showed loss aversion – one of many often-irrational money behaviors. Psychologically, people perceive losses (or declines in value of an investment) as much as 2½ times more impactful than gains of a similar size. Watch your investment drop $1,000 and you feel more than twice as bad as you might feel good about a gain of $1,000.

Most people are loss averse; it’s clear why many sell when market prices decline. Is loss aversion irrational? Or sometimes, is it timely clairvoyance?

Rewind to 2007, when from Oct. 9-19 the S&P 500 quickly declined more than 4% – similar to what it  it did in early October this year. Let’s say you were one who sold  Oct. 15 this year (and looked irrational in hindsight). Let’s imagine further that in early October 2007 you also cut back your market exposure under these similar conditions.

Instead of irrational, you would have appeared brilliant. Oct. 9, 2007, was a high point; financial apocalypse reigned for the next year and a half.

What-if situations such as these clearly show that sometimes irrational behavior produces good outcomes. And sometimes well-trained (and often self-proclaimed) experts, applying rational processes to money management, wind up on the wrong side of the intended outcome, especially in the short term. This helps make investing fascinating and, at times, maddening.

Because investment markets are complex and potentially both irrational and efficient, understand well your tolerance for risk. Define what risk actually means in terms of your financial security, and your willpower to handle markets when fear and greed influence decisions.

A written investment strategy can serve as a foundation for your long-term decisions. Your strategy – and your commitment – may also benefit from testing your strategy’s performance hypothetically in past crises.

Since we can’t predict outcomes that depend partially on luck, we plan according to probabilities. For example, rather than focus on the size of your expected returns, know the probability that your investment strategy can support your desired spending rate in retirement or make tuition payments, fund a wedding, cover health-care costs and so on. Your broader financial plan drives your investment strategy, not the other way around.

Ideally, when your goals link directly to your plan, you have a better foundation for dealing with investment uncertainty and Wall Street’s effect on your emotions and decisions.

Follow AdviceIQ on Twitter at @adviceiq.

Gary Brooks is a certified financial planner and the president of Brooks, Hughes & Jones, and a registered investment adviser in Tacoma, Wash. An expanded version of this piece first ran at his blog The Money Architects.

AdviceIQ delivers quality personal finance articles by both financial advisors and AdviceIQ editors. It ranks advisors in your area by specialty, including small businesses, doctors and clients of modest means, for example. Those with the biggest number of clients in a given specialty rank the highest. AdviceIQ also vets ranked advisors so only those with pristine regulatory histories can participate. AdviceIQ was launched Jan. 9, 2012, by veteran Wall Street executives, editors and technologists. Right now, investors may see many advisor rankings, although in some areas only a few are ranked. Check back often as thousands of advisors are undergoing AdviceIQ screening. New advisors appear in rankings daily.

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When managing personal finances and investments, people frequently exhibit irrational behavior for different reasons. If you’re one of these folks, be fair to yourself: It doesn’t even take a spate of market zigzags like October’s to prod you into questionable decisions.

Everyone makes choices about money nearly every day – how to earn, spend, save, invest and so on. Sometimes you pick wisely, sometimes harmfully. Some decisions, particularly those regarding when and where to invest, whipsaw from wise to harmful and back, depending on when you reached your conclusion and when you took the plunge.

Supposedly, if you can learn more about the cause and effect of your money decisions, and what around you contributes to them, you will improve your financial security. Pinpointing behaviors as either rational or irrational in the middle of the storm comes hard, though. The October market provided a convenient and timely case study to help explain why.

That month, the Standard & Poor’s 500 Index of large U.S. stocks declined 5.6% through Oct. 15 and then gained 8% through the end of the month. If sensitive to market moves, maybe you read the swift early declines and sold big – a flight perhaps revealed as irrational, given the late-October rally that continued into November.

If you sold in mid-October, you likely showed loss aversion – one of many often-irrational money behaviors. Psychologically, people perceive losses (or declines in value of an investment) as much as 2½ times more impactful than gains of a similar size. Watch your investment drop $1,000 and you feel more than twice as bad as you might feel good about a gain of $1,000.

Most people are loss averse; it’s clear why many sell when market prices decline. Is loss aversion irrational? Or sometimes, is it timely clairvoyance?

Rewind to 2007, when from Oct. 9-19 the S&P 500 quickly declined more than 4% – similar to what it  it did in early October this year. Let’s say you were one who sold  Oct. 15 this year (and looked irrational in hindsight). Let’s imagine further that in early October 2007 you also cut back your market exposure under these similar conditions.

Instead of irrational, you would have appeared brilliant. Oct. 9, 2007, was a high point; financial apocalypse reigned for the next year and a half.

What-if situations such as these clearly show that sometimes irrational behavior produces good outcomes. And sometimes well-trained (and often self-proclaimed) experts, applying rational processes to money management, wind up on the wrong side of the intended outcome, especially in the short term. This helps make investing fascinating and, at times, maddening.

Because investment markets are complex and potentially both irrational and efficient, understand well your tolerance for risk. Define what risk actually means in terms of your financial security, and your willpower to handle markets when fear and greed influence decisions.

A written investment strategy can serve as a foundation for your long-term decisions. Your strategy – and your commitment – may also benefit from testing your strategy’s performance hypothetically in past crises.

Since we can’t predict outcomes that depend partially on luck, we plan according to probabilities. For example, rather than focus on the size of your expected returns, know the probability that your investment strategy can support your desired spending rate in retirement or make tuition payments, fund a wedding, cover health-care costs and so on. Your broader financial plan drives your investment strategy, not the other way around.

Ideally, when your goals link directly to your plan, you have a better foundation for dealing with investment uncertainty and Wall Street’s effect on your emotions and decisions.

Follow AdviceIQ on Twitter at @adviceiq.

Gary Brooks is a certified financial planner and the president of Brooks, Hughes & Jones, and a registered investment adviser in Tacoma, Wash. An expanded version of this piece first ran at his blog The Money Architects.

AdviceIQ delivers quality personal finance articles by both financial advisors and AdviceIQ editors. It ranks advisors in your area by specialty, including small businesses, doctors and clients of modest means, for example. Those with the biggest number of clients in a given specialty rank the highest. AdviceIQ also vets ranked advisors so only those with pristine regulatory histories can participate. AdviceIQ was launched Jan. 9, 2012, by veteran Wall Street executives, editors and technologists. Right now, investors may see many advisor rankings, although in some areas only a few are ranked. Check back often as thousands of advisors are undergoing AdviceIQ screening. New advisors appear in rankings daily.

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Money Smarts: How U.S. Rates http://forestlaketimes.com/2014/12/19/money-smarts-how-u-s-rates/ http://forestlaketimes.com/2014/12/19/money-smarts-how-u-s-rates/#comments Fri, 19 Dec 2014 21:00:48 +0000 http://forestlaketimes.com/?guid=b21c2ed9629aff303f0c36200921ef47 We all flip between believing that America leads the world at everything to thinking our nation lags behind foreign powerhouses in every way. Regarding financial literacy, we’re solid in the top five – but far from best.

The recent Visa International Financial Literacy Barometer reports that the U.S. ranks fourth out of 28 countries. If you think sophisticated Europeans edge us out, you’re wrong. The top five nations were Brazil, Mexico, Australia, the U.S. and Canada.

The first question surveyed the 25,500 respondents worldwide about the age at which children need to learn financial literacy. The U.S. came in at around the global average of 11.3 years old. Respondents in Brazil, overall the most financially literate nation in the world, said children need to start becoming financially literate at age 9.

The answers to four subsequent questions helped determined the rankings:

1. Do you have and follow a household budget? The best budgeters were in Brazil, Japan, Australia, South Africa and Canada. The U.S. placed sixth.

2. How many months’ worth of savings do you have aside for an emergency? The best savers were in China, Taiwan, Hong Kong, Japan and Canada. The U.S. placed seventh.

Overall, more than one in three (68%) of respondents had less than three months of emergency savings. A quarter of high-income respondents worldwide have less than three months of savings.

3. How often do you talk to your children (ages five to 17) about money management issues? Parents who talked most frequently about money with children were in Mexico, Brazil, Serbia, Bosnia and Lebanon. The U.S. again placed sixth.

Parents and other adults in the wealthier nations spent the least time talking to children about money.

4. To what extent would you say teenagers and young adults in your country understand money management basics and are adequately prepared to manage their own money? More adults in Vietnam, Indonesia, India, Colombia and Mexico believed kids understood financial basics than in other countries.

More than half the countries surveyed believe the young understand little about finances. America also gave its youngsters low marks here: The U.S. placed 27th.

It’s remarkable we placed fourth when our ranking was lower than that on every individual question. Our final ranking was higher partially because questions that America did better than other nations on happened to count for more toward the final score.

The best financial education begins at home. If interested in educating your children about money, you can try another Visa survey entitled “The Tooth Fairy Tightens Purse Strings.”

In 2014, the Tooth Fairy left American kids 8% less, on average, than in 2013. American children received about $3.40 per tooth.

Ask your children why that might be. Are kids losing more teeth so the Fairy must retrench and pay less? Did the Fairy budget badly? Are some teeth worth more than others (perhaps cavities versus cavity-free)?

The world’s a big place: What do you really learn when you hear that Indonesians talk to kids about money only 5.5 days a year? It’s always easier to learn when your own wallet is part of the subject.

 

Jonathan K. DeYoe, AIF and CPWA, is the founder and president of DeYoe Wealth Management in Berkeley, California, and blogs at the Happiness Dividend Blog. Financial planning and investment advisory services offered through DeYoe Wealth Management, Inc., a registered investment advisor.

 

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations to any individual. For your individual planning and investing needs, please see your investment professional.

Follow Jonathan K. DeYoe on Twitter at @happinessdiv.

 

Follow AdviceIQ on Twitter at @adviceiq.

AdviceIQ delivers quality personal finance articles by both financial advisors and AdviceIQ editors. It ranks advisors in your area by specialty, including small businesses, doctors and clients of modest means, for example. Those with the biggest number of clients in a given specialty rank the highest. AdviceIQ also vets ranked advisors so only those with pristine regulatory histories can participate. AdviceIQ was launched Jan. 9, 2012, by veteran Wall Street executives, editors and technologists. Right now, investors may see many advisor rankings, although in some areas only a few are ranked. Check back often as thousands of advisors are undergoing AdviceIQ screening. New advisors appear in rankings daily.

 

]]>
We all flip between believing that America leads the world at everything to thinking our nation lags behind foreign powerhouses in every way. Regarding financial literacy, we’re solid in the top five – but far from best.

The recent Visa International Financial Literacy Barometer reports that the U.S. ranks fourth out of 28 countries. If you think sophisticated Europeans edge us out, you’re wrong. The top five nations were Brazil, Mexico, Australia, the U.S. and Canada.

The first question surveyed the 25,500 respondents worldwide about the age at which children need to learn financial literacy. The U.S. came in at around the global average of 11.3 years old. Respondents in Brazil, overall the most financially literate nation in the world, said children need to start becoming financially literate at age 9.

The answers to four subsequent questions helped determined the rankings:

1. Do you have and follow a household budget? The best budgeters were in Brazil, Japan, Australia, South Africa and Canada. The U.S. placed sixth.

2. How many months’ worth of savings do you have aside for an emergency? The best savers were in China, Taiwan, Hong Kong, Japan and Canada. The U.S. placed seventh.

Overall, more than one in three (68%) of respondents had less than three months of emergency savings. A quarter of high-income respondents worldwide have less than three months of savings.

3. How often do you talk to your children (ages five to 17) about money management issues? Parents who talked most frequently about money with children were in Mexico, Brazil, Serbia, Bosnia and Lebanon. The U.S. again placed sixth.

Parents and other adults in the wealthier nations spent the least time talking to children about money.

4. To what extent would you say teenagers and young adults in your country understand money management basics and are adequately prepared to manage their own money? More adults in Vietnam, Indonesia, India, Colombia and Mexico believed kids understood financial basics than in other countries.

More than half the countries surveyed believe the young understand little about finances. America also gave its youngsters low marks here: The U.S. placed 27th.

It’s remarkable we placed fourth when our ranking was lower than that on every individual question. Our final ranking was higher partially because questions that America did better than other nations on happened to count for more toward the final score.

The best financial education begins at home. If interested in educating your children about money, you can try another Visa survey entitled “The Tooth Fairy Tightens Purse Strings.”

In 2014, the Tooth Fairy left American kids 8% less, on average, than in 2013. American children received about $3.40 per tooth.

Ask your children why that might be. Are kids losing more teeth so the Fairy must retrench and pay less? Did the Fairy budget badly? Are some teeth worth more than others (perhaps cavities versus cavity-free)?

The world’s a big place: What do you really learn when you hear that Indonesians talk to kids about money only 5.5 days a year? It’s always easier to learn when your own wallet is part of the subject.

 

Jonathan K. DeYoe, AIF and CPWA, is the founder and president of DeYoe Wealth Management in Berkeley, California, and blogs at the Happiness Dividend Blog. Financial planning and investment advisory services offered through DeYoe Wealth Management, Inc., a registered investment advisor.

 

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations to any individual. For your individual planning and investing needs, please see your investment professional.

Follow Jonathan K. DeYoe on Twitter at @happinessdiv.

 

Follow AdviceIQ on Twitter at @adviceiq.

AdviceIQ delivers quality personal finance articles by both financial advisors and AdviceIQ editors. It ranks advisors in your area by specialty, including small businesses, doctors and clients of modest means, for example. Those with the biggest number of clients in a given specialty rank the highest. AdviceIQ also vets ranked advisors so only those with pristine regulatory histories can participate. AdviceIQ was launched Jan. 9, 2012, by veteran Wall Street executives, editors and technologists. Right now, investors may see many advisor rankings, although in some areas only a few are ranked. Check back often as thousands of advisors are undergoing AdviceIQ screening. New advisors appear in rankings daily.

 

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Knowing Needs from Wants http://forestlaketimes.com/2014/12/19/knowing-needs-from-wants/ http://forestlaketimes.com/2014/12/19/knowing-needs-from-wants/#comments Fri, 19 Dec 2014 21:00:44 +0000 http://forestlaketimes.com/?guid=76516101c63f3ac037ce0ffca76e9fa7 Making more money is not a necessary step to achieve your goals. If you truly wish to save more, you have to know how to identify a want in disguise of a need.

Sometimes, when you save for large goals in the future, such as retirement or a down payment on a home, you may feel that you need to make more money before these things can happen. You think that once your incomes are up to a certain level, you’ll be able to afford to save.

Not true. For many folks, learning to distinguish between wants and needs is enough to get you to your savings goals.

Here’s an exercise I do with my students in the class I teach whenever I hear them say that they “can’t afford” to save. Grabbing a marker, I ask them to tell me what monthly expenses they have and write those down on the board. For example, dining out: $100 per month; car payment: $250 per month; cable TV: $120; and smartphone: $80. Other items include clothes and shoes, getting hair and nails done and playing the lottery.

Then we look at the board and really think about whether these things are needs. This is where the fun begins. Initially, my students rationalize why they need the things they want. A big point of contention is smartphones. Many students say they need them, but in reality admit that smartphones aren’t something they can’t live without. And that’s the point to this exercise – rationalizing. We’re very good at rationalizing what we want, making it sounds like a need when it is not.

If the students can do without the things listed on the board, they can save $550. To hit the $5,500 annual max of contribution to an individual retirement account, they only need $458.33 per month. This means without having to ask for a raise or to get a second job, they can max out an IRA and still having $92 left over to invest.

With my trusty financial calculator, and using the students’ timeline for retirement, I come up with an amount that blows my students away. If they have 40 years to fund an IRA up to the limit until retirement, with a reasonable rate of return in the market of 7%, they can accumulate $1,174,853 in 40 years – all without having to make more money. This was money they are already spending.

For all of us, it boils down to priorities. Once we make our future financial needs a priority, we can change our perception of what we really need versus what we want, and reallocate our money accordingly to fund our goals.

Follow AdviceIQ on Twitter at @adviceiq.

Sterling Raskie, MSFS, CFP, is an independent, fee-only financial planner at Blankenship Financial Planning in New Berlin, IL. He is an adjunct professor teaching courses in math, finance, insurance and investments. His blog is Getting Your Financial Ducks in a Row, where he writes regularly about investments, retirement savings and financial planning.

AdviceIQ delivers quality personal finance articles by both financial advisors and AdviceIQ editors. It ranks advisors in your area by specialty, including small businesses, doctors and clients of modest means, for example. Those with the biggest number of clients in a given specialty rank the highest. AdviceIQ also vets ranked advisors so only those with pristine regulatory histories can participate. AdviceIQ was launched Jan. 9, 2012, by veteran Wall Street executives, editors and technologists. Right now, investors may see many advisor rankings, although in some areas only a few are ranked. Check back often as thousands of advisors are undergoing AdviceIQ screening. New advisors appear in rankings daily.

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Making more money is not a necessary step to achieve your goals. If you truly wish to save more, you have to know how to identify a want in disguise of a need.

Sometimes, when you save for large goals in the future, such as retirement or a down payment on a home, you may feel that you need to make more money before these things can happen. You think that once your incomes are up to a certain level, you’ll be able to afford to save.

Not true. For many folks, learning to distinguish between wants and needs is enough to get you to your savings goals.

Here’s an exercise I do with my students in the class I teach whenever I hear them say that they “can’t afford” to save. Grabbing a marker, I ask them to tell me what monthly expenses they have and write those down on the board. For example, dining out: $100 per month; car payment: $250 per month; cable TV: $120; and smartphone: $80. Other items include clothes and shoes, getting hair and nails done and playing the lottery.

Then we look at the board and really think about whether these things are needs. This is where the fun begins. Initially, my students rationalize why they need the things they want. A big point of contention is smartphones. Many students say they need them, but in reality admit that smartphones aren’t something they can’t live without. And that’s the point to this exercise – rationalizing. We’re very good at rationalizing what we want, making it sounds like a need when it is not.

If the students can do without the things listed on the board, they can save $550. To hit the $5,500 annual max of contribution to an individual retirement account, they only need $458.33 per month. This means without having to ask for a raise or to get a second job, they can max out an IRA and still having $92 left over to invest.

With my trusty financial calculator, and using the students’ timeline for retirement, I come up with an amount that blows my students away. If they have 40 years to fund an IRA up to the limit until retirement, with a reasonable rate of return in the market of 7%, they can accumulate $1,174,853 in 40 years – all without having to make more money. This was money they are already spending.

For all of us, it boils down to priorities. Once we make our future financial needs a priority, we can change our perception of what we really need versus what we want, and reallocate our money accordingly to fund our goals.

Follow AdviceIQ on Twitter at @adviceiq.

Sterling Raskie, MSFS, CFP, is an independent, fee-only financial planner at Blankenship Financial Planning in New Berlin, IL. He is an adjunct professor teaching courses in math, finance, insurance and investments. His blog is Getting Your Financial Ducks in a Row, where he writes regularly about investments, retirement savings and financial planning.

AdviceIQ delivers quality personal finance articles by both financial advisors and AdviceIQ editors. It ranks advisors in your area by specialty, including small businesses, doctors and clients of modest means, for example. Those with the biggest number of clients in a given specialty rank the highest. AdviceIQ also vets ranked advisors so only those with pristine regulatory histories can participate. AdviceIQ was launched Jan. 9, 2012, by veteran Wall Street executives, editors and technologists. Right now, investors may see many advisor rankings, although in some areas only a few are ranked. Check back often as thousands of advisors are undergoing AdviceIQ screening. New advisors appear in rankings daily.

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Spotting a Tax-Scam Call http://forestlaketimes.com/2014/12/19/spotting-a-tax-scam-call/ http://forestlaketimes.com/2014/12/19/spotting-a-tax-scam-call/#comments Fri, 19 Dec 2014 21:00:33 +0000 http://forestlaketimes.com/?guid=04128bde898a64153f990f7d16282b20 Know who never seems to take a holiday? Scammers pretending to be the Internal Revenue Service. Don’t become the next victim; here’s what to know to protect yourself.

In these aggressive scams, callers claiming to be from the IRS may demand money, or may say you’re due a refund and try to trick you into sharing private information. Sometimes they already have bits of that information – such as the last four digits of your Social Security number – and usually alter the caller ID to try to make you believe they are in fact from the IRS.

Among other tactics, bogus emails sometimes follow the calls, and victims report hearing background noise that mimics that of a call site. Scammers often use bogus IRS identification badge numbers and of course fake names. If you don’t answer, they often leave an “urgent” callback request or phone you back with a new strategy.

Recently, taxpayers reported that scammers frequently target immigrants, potential victims threatened with deportation, arrest, shutting off utilities or revoking driver’s licenses. The IRS says that callers are frequently insulting or hostile, sometimes following up with calls pretending to be from the police or local department of motor vehicles, with the caller ID again supporting their claim.

Other unrelated scams, such as a lottery sweepstakes and phony solicitations for debt relief, also fraudulently claim to be from the IRS.

Here are five things scammers often do but the IRS never does. Any one is a telltale sign. The IRS never:

  1. Calls to demand immediate payment or call about taxes you owe without first mailing you a bill.
  2. Demands that you pay taxes without giving you the opportunity to question or appeal the amount the agency says you owe.
  3. Requires you to use a specific payment method for your taxes, such as a prepaid debit card.
  4. Asks for your credit card or debit card numbers over the phone.
  5. Threatens to involve your local police or other law-enforcement to arrest you for not paying taxes.

In addition, the IRS does not use unsolicited email, text messages or any social media to discuss your personal tax issue.

If you get a call from someone claiming to be from the IRS and asking for money, you can report the incident to the Treasury Inspector General for Tax Administration at (800) 366-4484 or at the TIGTA complaint contact page.

If you get a call from someone claiming to be from the IRS and you believe you do owe taxes, call the IRS at (800) 829-1040. The employees there can help with a payment issue – if there really is such an issue.

If you receive an email you suspect comes from scammers, do not open any attachments or click on any links in the message but instead forward the email to phishing@irs.gov. A new IRS YouTube video also warns about scams.

And again remember: Give no personal information to strangers over the phone. The con artists are only impersonating the IRS and, unfortunately, can be very convincing.

Follow AdviceIQ on Twitter at @adviceiq.

Maureen Crimmins is the co-founder of Crimmins Wealth Management LLC in Woodcliff Lake, N.J. Her websites are www.CrimminsWM.com and www.RootsofWealth.com.

AdviceIQ delivers quality personal finance articles by both financial advisors and AdviceIQ editors. It ranks advisors in your area by specialty, including small businesses, doctors and clients of modest means, for example. Those with the biggest number of clients in a given specialty rank the highest. AdviceIQ also vets ranked advisors so only those with pristine regulatory histories can participate. AdviceIQ was launched Jan. 9, 2012, by veteran Wall Street executives, editors and technologists. Right now, investors may see many advisor rankings, although in some areas only a few are ranked. Check back often as thousands of advisors are undergoing AdviceIQ screening. New advisors appear in rankings daily.

 

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Know who never seems to take a holiday? Scammers pretending to be the Internal Revenue Service. Don’t become the next victim; here’s what to know to protect yourself.

In these aggressive scams, callers claiming to be from the IRS may demand money, or may say you’re due a refund and try to trick you into sharing private information. Sometimes they already have bits of that information – such as the last four digits of your Social Security number – and usually alter the caller ID to try to make you believe they are in fact from the IRS.

Among other tactics, bogus emails sometimes follow the calls, and victims report hearing background noise that mimics that of a call site. Scammers often use bogus IRS identification badge numbers and of course fake names. If you don’t answer, they often leave an “urgent” callback request or phone you back with a new strategy.

Recently, taxpayers reported that scammers frequently target immigrants, potential victims threatened with deportation, arrest, shutting off utilities or revoking driver’s licenses. The IRS says that callers are frequently insulting or hostile, sometimes following up with calls pretending to be from the police or local department of motor vehicles, with the caller ID again supporting their claim.

Other unrelated scams, such as a lottery sweepstakes and phony solicitations for debt relief, also fraudulently claim to be from the IRS.

Here are five things scammers often do but the IRS never does. Any one is a telltale sign. The IRS never:

  1. Calls to demand immediate payment or call about taxes you owe without first mailing you a bill.
  2. Demands that you pay taxes without giving you the opportunity to question or appeal the amount the agency says you owe.
  3. Requires you to use a specific payment method for your taxes, such as a prepaid debit card.
  4. Asks for your credit card or debit card numbers over the phone.
  5. Threatens to involve your local police or other law-enforcement to arrest you for not paying taxes.

In addition, the IRS does not use unsolicited email, text messages or any social media to discuss your personal tax issue.

If you get a call from someone claiming to be from the IRS and asking for money, you can report the incident to the Treasury Inspector General for Tax Administration at (800) 366-4484 or at the TIGTA complaint contact page.

If you get a call from someone claiming to be from the IRS and you believe you do owe taxes, call the IRS at (800) 829-1040. The employees there can help with a payment issue – if there really is such an issue.

If you receive an email you suspect comes from scammers, do not open any attachments or click on any links in the message but instead forward the email to phishing@irs.gov. A new IRS YouTube video also warns about scams.

And again remember: Give no personal information to strangers over the phone. The con artists are only impersonating the IRS and, unfortunately, can be very convincing.

Follow AdviceIQ on Twitter at @adviceiq.

Maureen Crimmins is the co-founder of Crimmins Wealth Management LLC in Woodcliff Lake, N.J. Her websites are www.CrimminsWM.com and www.RootsofWealth.com.

AdviceIQ delivers quality personal finance articles by both financial advisors and AdviceIQ editors. It ranks advisors in your area by specialty, including small businesses, doctors and clients of modest means, for example. Those with the biggest number of clients in a given specialty rank the highest. AdviceIQ also vets ranked advisors so only those with pristine regulatory histories can participate. AdviceIQ was launched Jan. 9, 2012, by veteran Wall Street executives, editors and technologists. Right now, investors may see many advisor rankings, although in some areas only a few are ranked. Check back often as thousands of advisors are undergoing AdviceIQ screening. New advisors appear in rankings daily.

 

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Task force issues bond proposal recommendations http://forestlaketimes.com/2014/12/19/task-force-issues-bond-proposal-recommendations/ http://forestlaketimes.com/2014/12/19/task-force-issues-bond-proposal-recommendations/#comments Fri, 19 Dec 2014 16:12:34 +0000 http://forestlaketimes.com/?p=60446 The Forest Lake Area Schools’ facilities bond task force has issued three possible dollar amount options for the school facilities bond referendum set for next May. The task force recommended that the school board present to voters a $143 million bond with a voter option to increase the bond for athletic and performing arts improvements.

If approved by the school board, the $143 million voter question will be $33 million lower than the $176 million in bonds rejected by voters in May 2014. The school board has made no decision on the recommendations, but it will begin discussion on the topic at its Jan. 8 meeting.

Tom Paul, a member of the task force, met with board members Dec. 18 to issue his group’s recommendation regarding the upcoming proposal to fund the improvement and expansion of the district’s aging facilities. This new task force began its work a few months after the original bond proposal failed to gain voter approval.

“The group took all the financial data and line by line went through and made a decision as to what we felt could be eliminated,” Paul said. “Upon that task being completed, we went back through each item that had been deleted and added back those items that we felt we would like to leave in the proposal. By going through this exercise, we arrived at three options to consider.”

The first option was to do nothing and leave the original proposal intact at $176 million. The second option was a middle number of $153 million that included a number of deductions but left performing arts and athletic upgrades in the proposal. The final option was for $143 million, with performing arts and athletics not included.

“The message that came out of the small group was whatever is presented to the voting public needs to be simplified in terms of the kind and amount of information disseminated,” Paul said. “It also needs to provide choices, and the amount cannot be $176 million.”

In addition to simply looking at financial data, the task force also requested and received a review of the previous bond proposal. Members felt it would help them ascertain the future direction that the district may need to consider in order to have a successful bond election and what the timing of such an election might be.

“We recommend that the bond question be presented to voters in as simplistic form as possible,” Paul said. “We also believe the voters should be given a choice on the ballot.”

Specifically, the choice the task force recommends is placing the $143 million bond on the ballot, which will fund proposed improvements for safety, security, ADA compliance, air quality and building integrity. Then, residents could also vote on a secondary question that would bond $18 million to make improvements to benefit the schools’ performing arts and athletic activities.

What exactly is included in that number is so far unknown. According to school officials, the task force’s list of improvements is still in a rough form and has not been fully double-checked by staff and task force members to make sure that the projects included add up to $143 million. The Forest Lake Times’ requests for more specifics on what would be included in the $143 million were declined as of the time of writing.

School board members also wanted to see more specifics. At the meeting, Board Member Karen Morehead wondered if only two meetings (Jan. 8 and Jan. 22, when the board is expected to vote on the proposal) was enough time to process the task force’s recommendations.

“I will be patient and see what happens there, but it just seems to me that because we don’t have all the information right now, that might not be enough time to really sit down and hash through it all,” she said.

The task force also recommended that the board consider pushing the vote to November 2015, as members believed that timeline would provide ample time for a marketing campaign aimed at informing the public of the changes in the proposal. Furthermore, the task force suggested removing the CLC teardown and campus reorganization from the plan, projecting that it could potentially save as much as $30 million from the project.

The board was also encouraged by the task force to seek additional funding sources for projects not included in the proposal. Board members are considering adding another work session in between Jan. 8 and Jan. 22 to discuss the proposal further.

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Local artist earns a top ‘spot’ with leopard drawing http://forestlaketimes.com/2014/12/19/local-artist-earns-a-top-spot-with-leopard-drawing/ http://forestlaketimes.com/2014/12/19/local-artist-earns-a-top-spot-with-leopard-drawing/#comments Fri, 19 Dec 2014 13:42:09 +0000 http://forestlaketimes.com/?p=60407 Submitted photos Wyoming artist Andrea Torma earned both second place overall and people’s choice at a recent East Central Regional Arts Council competition for her colored pencil rendering of a leopard. Torma provided photos of her creative process.

Submitted photos
Wyoming artist Andrea Torma earned both second place overall and people’s choice at a recent East Central Regional Arts Council competition for her colored pencil rendering of a leopard. Torma provided photos of her creative process.

Colored Pencil 2

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Wyoming resident Andrea Torma has been seriously interested in art since she was 13 years old. One look at the now 20-year-old’s recent prize-winning colored pencil drawing, and the years of dedication to her craft become apparent.

 

“A friend of mine alerted me to the East Central Regional Arts Council competition and suggested that I enter,” Torma said. “It was very close to the deadline, and so it all came together at the very last minute.”

The time constraint issue did not show in Torma’s work, and the judges certainly couldn’t tell she was under the gun, as she brought home second place in the mixed media category and also earned the people’s choice award. 

“I was completely shocked at my second-place finish, considering I was competing against 150 others,” Torma said. “I had no expectations going in. When I showed up to pick up my drawing after the competition had ended, they told me about the people’s choice and I just couldn’t believe it.” 

Torma’s piece is a leopard drawn with colored pencil and she said that her inspiration was the fact that she has always been fascinated with the shapes and movement of different animals. The choice of medium came from her time in art school.  

“I really felt like colored pencil was right for this as I got a lot of expression and dimension out of the piece,” she said. “I studied at Anoka-Ramsey Community College in Cambridge and my art instructor there really challenged me with colored pencil before I was really familiar with it. I guess it has just stuck with me ever since.”

Torma, however, is not a one-trick pony. She has also worked with graphite, charcoal and white charcoal. Her future plans are to explore ceramics as well as painting.

Torma took home $200 cash for her people’s choice win and an additional $150 for the second-place finish. She wants to use the money to further her education; she is a few classes away from earning an Associate of Arts degree.

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Columbus to expect detours during roundabout work http://forestlaketimes.com/2014/12/19/columbus-to-expect-detours-during-roundabout-work/ http://forestlaketimes.com/2014/12/19/columbus-to-expect-detours-during-roundabout-work/#comments Fri, 19 Dec 2014 13:21:40 +0000 http://forestlaketimes.com/?p=60398 Paul Rignell

Columbus Reporter

Columbus City Council members have received an update from Anoka County staff on roundabout plans for next summer at Broadway Avenue and Kettle River Boulevard.

Projections from county staff last August were that all of Broadway could remain open through the construction next year, but a new report at a council meeting Nov. 24 laid out planned detours for general traffic to avoid the work zone.

For an estimated two weeks next summer, general traffic heading west on Broadway from Forest Lake would be directed southwest on Kettle River Boulevard to County Road 19, which traffic would then follow north back to Broadway.

That time period would follow another construction stage that would keep general traffic off of Kettle River Boulevard between Broadway and County 19 for an estimated four to six weeks.

For those weeks, traffic on Kettle River Boulevard linking Wyoming and Lino Lakes, for example, will be detoured west on Broadway to head south on County 19 back to the through route.

City Engineer Larry Bohrer asked county staff Nov. 24 if the roundabout work was more likely for earlier or later in the summer. Assistant County Engineer Andrew Witter estimated later summer work.

Bohrer said that overlay maintenance or possible mill and overlay is being planned next year for Notre Dame Street in the area, and it may be scheduled around the county’s work at Broadway and Kettle River Boulevard. Bohrer announced that a recommendation on other city overlay and seal coat projects for 2015 would be presented Dec. 10.

The new roundabout is one of the first three being built by Anoka County, joining others in Blaine and St. Francis.

Nearly half of the estimated $1.14 million project in Columbus will be covered by a federal grant of $495,000. The city’s share to pay remaining costs will total about $66,700 from a transportation fund.

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