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Show Page 18 The OGDEN VALLEY NEWS Volume II, Issue II November 1999 How to Harvest The Rewards of Retirement Third in a four-part series Retirement involves making changes–to schedules, priorities, activities and finances. One of the major transitions many people experience at retirement is going from the predictability of receiving a paycheck to the relative unknown of relying on pension checks, Social Security and personal savings and investments. Information in this and the next issue will help minimize the stress of entering that unknown by outlining the decisions you’ll be making at retirement and offering some general advice about retirement planning. Step 3 Compare Your Needs and Resources: Will You Have Enough? The next step in retirement planning, as with any budget, is to compare your expenses and your income. Do this by completing the brief worksheet below: Expected monthly retirement expenses : $_________ (Include items such as housing, food, utilities, insurance, taxes, health care and so on.) Expected monthly retirement income: $__________ (Include Social Security benefits, employer’s retirement plan, postretirement work and any assets that may provide income such as retirement accounts like IRAs and Keoghs, savings or investments in stocks, bonds and mutual funds.) Subtract from income If your anticipated retirement income exceeds your expenses, congratulations! You’re well on your way to achieving your retirement goals. Many people, however, may find that they have a shortfall, or gap, between the expenses they project for retirement (which represents the lifestyle they anticipate having) and the amount of income they can expect. Tips for Closing the Gap • Maximize tax-deferred investing. In the time left before you retire, make full use of the tax-advantaged retirement plans available to you–those offered through your employer and personal plans, such as IRAs. Money grows fastest unhindered by taxes. • Consider deferring retirement. Continue working a year or two past your Social Security retirement age, saving as much of your earnings as possible. Not only will you have the benefit of extra savings, but you may increase your Social Security benefits (depending on your date of birth) and your retirement payout, too. • Reduce debts and spending. You’d be surprised how easy it becomes to rein in your expenses once you become more aware of what you’re actually spending. Vigorously track all your expenses for a month or two and then reduce accordingly. • Consider your home as an asset. Some people who need to supplement their retirement income use “reverse mortgages” (home equity conversions). These allow people to tap into their equity without selling their home. Plan to work in retirement. A few years of post-retirement work (if you save your wages) can help you fund your later retirement years. Wages earned in retirement may help you keep pace with inflation, plus your employment may qualify you for valuable group benefits, such a health insurance. Remember, however, that work during retirement may affect your Social Security benefits. How Work Affects Social Security Earnings Age Maximum Earnings Reduction in Benefits Under 65 $670/month $1 for every $2 earned above limit 65 - 69 $930/month $1 for every $3 earned above limit 70 + No maximum None This information has been provided to you courtesy of Ascend Financial Services, Inc., member NASD/SIPC, and Calvin D. Welling, CLU, ChFC, CEP. For more information call (801) 399-5409. Next time . . . Step Four: Take Action on Your Program Comstock Financial Services, Inc. • • • • • • • • • Best Rates and Closing Costs - Guaranteed Stated Income & No Doc Loans 100% Loans Lot Loans Construction Loans Great to Not So Great Credit Debt Consolidation Purchase or Refinance Loans to $2,000,000 Free Consultation and Pre-Qualification Call JENNY GOOD 745-3778, 791-0881 Local Artist Sets Dates for Annual Show By Shanna Francis exhibits through the years, the latest, David N. Cox of Huntsville will this years Ceramics Reunion, th host his 14 annual art show and sale invitational (Hopkins Hall Gallery, at on Saturday and Sunday, December 4th Ohio Sate University in Columbus, and 5th at his Potworks studio found Ohio. He has been published in the tucked away among the mountain September, 1999 issue of Ceramics brush in Huntsville. Many regular Monthly; History of the American customers look forward all year to the Ceramics: The Studio Potter; autumn event. Mr. Cox moved to Contemporary Crafts of the Americas, Ogden Valley in 1985, and held his first and in many other publications. Mr. local show in 1986. Cox has also Mr. Cox became served, among interested in art as a many capacities, as child growing up in a member of the San Jose, National Council California. His of Education for mother supplied the Ceramic Arts him with “How to for the past 27 Draw Books” that years; as a member she brought home of the Board of from a local Directors, wallpaper store that American Craft happened to carry Enterprises; Utah art supplies. In high Representative to school, his attention the American was drawn towards Crafts Council; music, playing the Reviewer/Critic for trumpet. He later the American Craft played with two Council; and semiprofessional served as panel symphonies. member for the National Council David studied for the clergy in the David N. Cox at his studio in Huntsville on Education for the Ceramic Arts. early sixties. He obtained a Bachelor David has, also, continued his of Arts Degree in Pre-Theology from interest in music. He has played the San Jose State College in 1960. He trumpet with the New American also studied Social Studies and Symphony since 1996, and the cornet minored in Art. He taught junior high and trumpet with the Ogden Concert school for 7 ½ years. After teaching Band since 1995. school for 6 ½ years, at the age of 29, Mr. Cox considers himself a he went to visit his in-laws who lived minimalist when describing his work. near Indiana State University. While He uses simple forms, either organic there he registered and completed two or geometrical, or contrasts between summer classes in sculpture and the two forms. His forms are ceramics, which was his first considered geometrical because they immersion into the realm of threeare soft and linear, and organic because dimensional art. He so enjoyed the he uses natural animal or plant forms experience, that upon returning home, for models. He also considers his art he registered for two more ceramic to be utilitarian–it is visually attractive classes. and engaging, and, at the same time, In addition to studying at San Jose functional. His dual challenge—to State College and Indiana State bring these two aspects together. University, Mr. Cox completed Visiting Mr. Coxes’ studio, I found graduate work from the University of shelves full of his beautiful art work California (Berkeley), and Pacific taking form as graceful pitchers, pots, School for Religion (Berkeley). He large unique fruit or salad bowels, went on to complete a Master of Arts teapots, clocks, oil lamps, and many in Ceramic Sculpture from San Jose other useful, skillfully created art State University in 1971 and a Master pieces. One of David’s favorite of Fine Arts–the equivalent of a statements reads, “There’s nothing that Doctorate Degree–in Ceramic you can slice so thin but what there are Sculpture from The Ohio State still two sides.” Referring to this University (Columbus) in 1974. statement he has written, “ . . . what often appears as irreconcilable Mr. Cox joined the teaching staff opposites are usually interrelated, two in the Art Department at Weber State sides of an unified whole. My current University in 1971, where he continues sculptural works are juxtapositions of to share his skills as a professor of dualities–soft/hard, emotional/rational, Visual Arts (Ceramics), chairing the organic/geometric, masculine/ Department from 1981 through 1987. feminine, and life/death–‘two sides’ of David’s professional activities a more complex slice.” include participating in over 100 art Those who take the opportunity to visit the Potworks open house will find a refreshing and unique place to purchase their gifts for the holiday season. Why trudge through another commercialized, packaged chain store? But be prepared, you may find yourself buying a few gifts for yourself! The Open House/sale will be held at Mr. Coxes’ studio located at 163 South 10450 East in Huntsville, again, on December 4th and 5th from 10:00 a.m. to 4:00 p.m. Refreshments will be served. For more information, or to visit the Potworks studio by appointment, call 745-3450. |