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Show The Ogden Valley news Page 10 Volume XXV Issue XI February 1, 2019 Practical Money Matters: Lessons from the Financial Independence & Early Retirement (FIRE) Community By Hugh Norton out could help your financial situation even if you don’t think you can retire early (or event want to). Here are a few ways to incorporate the guiding principles of the FIRE movement into your life without going to extremes: Evaluate your priorities. This is always a great place to start. No one else gets to decide what’s truly important in your life. If you take the time to evaluate what you want and what’s important to you, it can help you set clear goals to strive for and a benchmark by which to measure the decisions that shape your financial future. Decrease expenses. No matter your aptitude for a frugal lifestyle, look for ways to cut costs in different areas of your life. Housing, transportation and food are often major monthly expenses, so it could help to focus on these areas. Some FIRE devotees sell their cars or trucks and walk or bike to work. Organizing a carpool or taking public transportation could be a better fit for your lifestyle. Increase your income. There are many ways to increase the other side of the equation as well. You could look for a side gig or negotiate a raise with your current employer. If you have the funds to make it work, taking on an investment property could also be a key to higher income. Avoid lifestyle inflation. It can be tempting to “upgrade” your lifestyle when your income increases. However, if your goal is to increase the gap between your income and expenses, you’ll want to maintain your lifestyle while your income rises. Aim for higher returns. Whether you’re a savvy investor or don’t know a stock from a bond, a little research and planning could help you make more money with your money. Even low-risk actions, such as moving your money to a bank or credit union that offers a higher interest rate, could help. Lowering the fees you pay on checking, savings and investment accounts could also help increase your returns. Bottom Line: Even if early retirement is not in your game plan, there are still valuable lessons and takeaways from the examples of those who have been able achieve this goal. If you’re intrigued by some of the concepts or think you may want to join others on the path to FIRE, there are resources and tools that can help. You can use basic online calculators to create a budget or check your savings progress and help you determine when you’ll be able to retire. All Things Basketball: The Skyhawks, Warriors, Wildcats, and Jazz By Colton Pack Rahe. “We played with aggression and played well defensively and showed a lot of poise.” Cody John led the ‘Cats with 20 points and As of late, your local basketball teams have all been playing well in their respective three assists. Four other Wildcat players ended leagues. From the Skyhawks to the Jazz, here the game in double figures. Two of the five is a recap of all things basketball from the past players in double figures came off the bench including Michal Kozak with 12 and Caleb couple weeks. On Jan. 15, the Snowcrest boys’ basketball Nero with 10. All that Jazz - The Utah Jazz have been on team traveled to Roy Jr. High and dominated on the road. The Skyhawks put up 37 points quite the tear, winning seven of eight and nine and held Roy to just 20; they got their second of eleven. We will start with their game against the Lakers on Jan. win on the season 11. 37-20. Jazz Guard At the end of Donovan Mitchell the first quarter, went off for 33 Snowcrest trailed points and 9 assists, 7-12 and struggled shooting 58% from to hit some open the field including shots. During the 4-5 from downsecond quarter, town. Mitchell had however, the team a posturizing dunk went on a 10-2 run over Laker’s cenand closed the half ter JaVale McGee, up by 3, 17-14. which was the The Skyhawks highlight of the defense showed 113-95 blowout up big time in the win for Utah. second half, holdAll five starters ing the Razorbacks to just six points. Snowcrest student Luke Harris goes for a layup shot for the Jazz ended Over the course against Rocky Mountain Jr. High. Photo by Colton Pack. the game in double figures. Rudy of three quarters, Snowcrest outscored Roy 30-8 in dominating Gobert, Derrick Favors and Joe Ingles all cashed in double-doubles for the Jazz in the fashion. “We started out slow…we made some win. On, Jan. 12 the Jazz added to their twoadjustments and things started happening. It was a close game in the first half, back and game win streak with a close win vs. the forth. We went from our zone defense to a man- Chicago Bulls in Salt Lake City. The win feato-man and that seemed to do the job for us,” tured the third game in a row where Mitchell scored over 30 points. commented Coach Mike Olsen on the win. Mitchell was again the highlight of the night Next, the Snowcrest boys’ basketball team got their third win on the season as they scoring 34 points, dishing out six assists and smashed Rocky Mountain Jr. 54-37. Four of the grabbing six boards. The game was back and forth up to the fourth quarter where Ingles and five starters ended the game in double figures. Barrett Roberts ended with 11 points, Royce O’neale hit back-to-back three pointers including two threes and four assists. Big man to give the Jazz a comfortable 102-92 lead. • Live a modest and frugal lifestyle and put Gobert recorded another double-douLuke Harris came through with 12 points, and most of your earnings (often over 50 percent) seven boards. Guard Hunter Schenck chipped ble, scoring 15 points and pulling down 16 into savings and investments. rebounds. The Bulls are one of the worst teams in 12 points and five boards. • Try to find ways to increase your savings The Skyhawks got off to a quick start scor- in the NBA but threatened the Jazz in Utah. rate by cutting expenses and increasing your ing 17 points in the first quarter and 33 in the The win proves the importance of every game, income. Creating and closely monitoring a first half. Roberts contributed the quick start especially in the tight Western Conference race. budget can help. After the win over the Bulls, the Jazz to Coach Olsen, saying, “When we went into • Look for opportunities to increase your our warm-ups, we saw that we were a little welcomed the Detroit Pistons to Vivint Smart investment returns and grow your money sluggish…we went into the locker room and Home for their second game of the season. faster. coach told us we needed to come out with more Gobert and Mitchell willed the Jazz to their • Aim to have enough in your savings that you can retire early, perhaps in your 50s, 40s, 30s Hugh Norton directs Visa’s financial education energy…we came out with a big first quarter.” fourth straight victory, 100-94. The story of the game was Gobert, who Caleb Graves had the game high 17 points, programs. To follow Practical Money or even earlier. shooting 60% from the three, and 77% overall. scored 18 points and hauled in 25 rebounds Skills on Twitter visit <www.twitter.com/ He commented on his hot shooting, which despite the usually over-powering Piston cenReaching financial independence doesn’t PracticalMoney> included three makes from behind the arc, “It ter, Andre Drummond. Kyle Korver came off necessarily mean you have to quit your job. was really just from the beginning, hit my first the bench hitting five threes and dropping 19 However, you now have that option and the This article is intended to provide general shot. Once I got into my rhythm, I wasn’t get- points in the win. information and should not be considered freedom that comes with it. Mitchell followed up his 34-point game ting out of it.” How to apply the movement to your life legal, tax or financial advice. It’s always a against the Bulls with a game-high 28-point Last Wednesday, Snowcrest headed over Realistically, reaching FIRE may not be an good idea to consult a legal, tax or financial option for everyone. But increasing the gap advisor for specific information on how certain the mountain to take on Orion Jr. High who performance. The win upped the Jazz winth currently sits in 1st place in the district. The streak to four games and gave Utah their 24 between your income and expenses such that laws apply to you and about your individual Skyhawks fought hard and kept the game close win on the year. you have more money coming in than going financial situation. On, Jan. 16 the Jazz left Salt Lake and travbut lost in the end, 42-47. Going into the fourth quarter, Snowcrest eled to L.A. to take on the Clippers, who have UTVs l Motorcycles was down 35-26. They managed a 16-point one of the most prolific scoring offences in the quarter to keep the pressure on the Titans. A late NBA. The Jazz held the Clips to 109 points l Boats Personal Watercraft full-court press forced Orion to be careful with and scored 129 to get the win in dominating the ball; they hit free throws late to seal the win. fashion. Kayaks l Canoes l SUPs In back-to-back games Gobert racked up Graves came up big with another great Snowmobiles shooting game, hitting four threes in the second more than 20 rebounds; this was the first time half. His shooting kept the win within reach, it had been done since Karl Malone did it back On Site Rentals & Tours especially in the second half when the team in ‘88. Gobert ended the game with 23 points and 22 boards. needed to score. l “He’s being aggressive, that’s what we love This is the final week of the regular season for the Skyhawks; their final home game is this about him. He’s blocking shots, he’s running Friday, January 24, making a final push for the the floor, he’s finishing, he’s doing it all,” commented Mitchell on Gobert’s game. playoffs. Mitchell had another outstanding night, Weber Warriors - Following two straight losses, the Weber High Warriors are 2-1, includ- scoring 28 points—eight of which came from the foul line. Korver showed well again scoring ing 7-2 at home on the year. On Jan. 15 the Warriors hosted a conference 19 points and dropped in four threes. This win game against the Syracuse Titans. Weber got a upped Utah’s win-streak to five. After returning home from L.A., the Jazz 17-point win, 74-57. The win came at a good time after the back- took on the Cavs in Salt Lake. At one time durto-back blowout losses to Davis and Fremont. ing the game, Utah had a 38-point lead. They Brandt Opheikens led the Warriors with a dou- got the win in another dominating performance, ble-double, posting 17 points and 11 rebounds. 115-99. The win for the Jazz was number six in a Max Triplett, Braedon Iverson, and Hudson Schenck all ended the game in double figures. row, number 26 on the season. Mitchell proved Triplett ended with 11 points and seven boards, his consistency with 24 points in just 26 minIverson also scored 11 points and grabbed utes of play. Both Gobert and Favors gave the seven boards. Schenck closed the night with 12 Jazz double doubles, Gobert ended with 19 points and 15 boards. points, three assists, and three steals. Last Monday, the Jazz looked to continue “I came out and tried to do what my team needed me to. I played for the team and did the six-game win streak against the Portland what I could…it was fun to play as a team and Trailblazers. Even with Mitchell’s 36 points, Utah fell short, losing 104-109. get the win,” commented Triplett. The story of the game may include a horFollowing the win, the Warriors suffered a loss to Layton but came back with a good win rific shooting night from the three-point line at vs. Northridge at home. Iverson showed relent- just 21% and 39% overall. During the fourth less effort as he hauled down 20 rebounds dur- quarter, it felt as if the Jazz couldn’t buy a bucket. ing the game, including 3 offensive. The bright spot of the game was obviously Schenck led the team with 14 points in the win; he also chipped in seven assists. Triplett Mitchell’s 36 points, five assists, and seven added seven points and 11 boards. Weber plays rebounds. Mitchell scored 14 straight points to just one game this week, at Davis High on close the game and give Jazz fans hope. Head Coach Quinn Snyder commented on Tuesday the 29th. Weber State - Weber State is making the loss, “There were stretches where we another push at regular season champions in weren’t consistent and you can point to a lot of the Big Sky; they currently sit in first place as them. We have to be able to sustain that level, they look to the second round of games in the particularly on the defensive end for longer periods of time.” conference. Last Wednesday, the Jazz played in what On, Jan. 17 the Wildcat’s took on Idaho State for the first time this season. The ‘Cats could easily be called their most entertaining got a big win over the Bengals, 76-59. Junior game of the season. Utah hit 19 three-pointers, Jerrick Harding led the push with a game-high scored 114 points, and beat the Denver Nuggets who are currently second in the West. 28 points. As usual, Mitchell led the Jazz in scoring In the first half, Weber fell behind 25-18 where they would then go on a 21-4 run to close with 35 points, including six three-pointers and PreserVaTiOn. PrOTecTiOn. sTewardshiP. the first half. The Wildcats would hold Idaho six assists. Rubio just played 24 minutes but State to just 29 points in the first half and 30 came up big scoring 17 points, and dishing out six assists. in the second. Gobert cashed in 15 points and grabbed 10 Brekkott Chapman posted his fifth-straight double-double scoring 19 points and snagging rebounds, recording his 40th double-double 14 rebounds. The Wildcat’s moved to 5-1 in the on the year. Jay Crowder came off the bench with 15 points, including two and-one threeBig Sky Conference and 11-6 overall. Trailing the win over the Bengals, Weber pointers. Ingles also gave the Jazz a lift scoring State upped their win-streak to three as they 14 points, adding eight assists. Mitchell’s month is by far one of the best for beat Northern Colorado 78-64. Weber held the Bears to just 37% shooting and shot 56% from any Jazzman in Utah history. Over the course of the month, Mitchell is averaging close to 30 the floor in the win. Join today to preserve Ogden Valley’s grace. “This was definitely a team win for us points a game, five assists, and five boards. His www.OgdenValleyLandTrust.org tonight and they kept fighting and found a game continues to flourish as he euro-steps his way,” said Weber State head coach Randy way to the basket every game. How do you envision your retirement? For some, there’s an idealistic image that many share of days spent walking along a warm beach, endless travel and a leisurely lifestyle. On the other end of the spectrum, some people haven’t had the opportunities that would afford them the ability to stop working when they want, never get to retire in the traditional sense and struggle to live on a fixed income once they’re no longer able to work. There’s also a middle ground, those who can afford to stop working and live a modest lifestyle. But the financial requirements for seniors have changed and grown over the years, and so this middle option may be less common as a result. Employer pensions and other retirement benefits aren’t as prevalent or plentiful as they once were. Longer life expectancy and a rising cost of living can make it more difficult to live purely on Social Security benefits and retirement savings alone. However, there are individuals and families who have been lucky enough to be in the position to retire decades before their 60s. They’re part of a social movement known as FIRE—financial independence and early retirement—that has its own values, rules, subgroups and lingo. What is FIRE? The idea of becoming financially independent, when you can live off the income from your savings and investments, and retiring early, a notion that can seem too good to be true. Even if the end goal is desirable, it may not be possible for many and in cases where it is possible, some may not be up for the journey. Early retirees may live in small homes, drive old cars and avoid eating out prior to retirement—all with the goal of accumulating enough savings to live on after retirement. There is more than one way in which people have achieved FIRE. However, there are a few basic rules to live by that could help you get there: Eden (801) Pineview Reservoir/Marina Monte Cristo Trailhead 745-3038 www.ClubRecUtah.com |