| Show - !Z 6F The Salt Lake Tribune Sunday January 21 t '':::':'''':'sf:'t:1-f1‘5:1- 4' 4: (3 ?0010'i-: '''::1: 4Iiitiii '::t 470— r 0' :" :a r 't-- 9 0A''' ::: '1' 11 't ::':':' : k:::i2: :V''''i i 1 ' ' ::4':' "'I: s: ' ' - ::''":::t ! ''fl ':4:'rPffittli!:411!)?4 '!'1:!: — ''''"'''''''':'i 1 "4 1441 ""I°14 c: - Iiit ttlfset:- tt: : ' 11P447 :::1ttll t 11 ''"4ii:' "' itittg5 - Itrit F :::IN I):---- :- ti:01''w'1---'- ''':Ait-ffit- 4 '1' ::::::4::::::1 im :$4iiit'C' It ' 4:':'eg '::-- ft'':!'Ii4:144 ::f'11'll::( toogN6 i ):: t ' : 4 ':'v:'-t''- t1 :i:"g::':::" §K-i- ': ''' p p k:- 1::: : By Graeme Browning Washington Post Writer If you're past the start-uyears in your career and "goal" still means a set of posts on a football field it's time to stop and take stock Most people in their 20s can get away with a "here today gone tomorrow" attitude toward their finances financial planners say But when the 30s hit — when there's often a spouse's needs to consider as well your own — failing to set financial goals is an invitation to disaster A goal can be anything you want it to be as long as it represents a milestone in your life that you can't handle on pocket change alone If you don't own a house do you want to buy one? If so how will you amass the down payment? If you don't have children do you plan to have them? If so how do you want to educate them? And will you need a larger house to accommodate them? How will you pay for all of this? Maybe you may want to return to school for a law degree or maybe you'd like to start a business — you'll need significant capital for both Have you decided at what age you want to retire? How do you want to live when you do? Being financially sound enough to walk out of the office for good at age 40 takes more money than it does at age 65 or 70 And these days when everyone lives longer how will you cope if your parents have to go into a nursing home and you're called upon to foot the bill? The best approach to setting goals for yourself says Alexandra Armstrong president of Alexandra Armstrong Advisors Inc a Washington financial-plannin- g firm is to "put down your wish list quantify that list economically and then decide what's the most important" Take retirement for instance Financial planner David Dendero suggests this rule of thumb for calculating how much you'll need for retirement and how much you'll have to save annually to reach that goal: Estimate the number of years you think you'll live past retirement multiply that by the amount of dollars you'll need to live on each year you're retired and divide that figure by the number of years until you reach retirement age In other words if you want to retire at 65 and you think you'll live 20 years beyond that age and you figure you can get by on $20000 a year then your retirement fund will have to total $400000 If you're 25 years old you have 40 years until retirement and will need to save $10000 a year according to Dendero's formula If you're 35 years old you've got 30 years to go and will need to put away approximately $14000 a year And so on Don't expect to live off of the earnings from your fund Dendero warns d of because taxes will take those earnings and inflation will eat up most of the rest Employer pension funds and Social Security will contribute to your retirement nest egg but not enough to exempt you completely from the obligation to save When it comes to providing for retirement "you're going to have to do it yourself and it's going to take a lot of money Every year you wait the amount you have to save goes up sharply' said Dendero president of d Alexandria Dendero & Associates Once you decide what goals to pursue the next step is simple Put :7 offiii: 4 :':: ' '' :' m " "''''! :44-- 'J- 0°!' :— " '4' "':''Vor-- - ''' "" ' I: - " ' )i' :: - - 1 ""51:::!"11:Ii iIf ' 0: iii gb r'''''''''''''':: tA:":4 —Associated Press Laserphoto Getting in Gear Honeywell operator Mary Rosenberg inspects gears made from a metal powder at the company's Building Controls Division in Golden Valley Minn The metal leaves millions of tiny holes the company says permanently lubricate the gears Calculate Fee Closely Carefully When Picking Financial Planner of their income from the sale of investment products And the North American Securities Administrators Association an organization of state found that securities regulators 22000 customers nationwide lost nearly WO million due to fraud and abuse by financial planners from 1986 to 1988 "People who pay $1500 or so for a financial plan assume the planner is working for them" said Barbara specialRoper a financial-plannin- g ist with the Consumer Federation of America "They don't realize they're paying a pittance compared to what the planner makes from product By Anne Swardson Washington Post Writer Who contemplating unpaid bills incomprehensible broker's state- ments a house and multiple children roaring toward college age has not thought of turning to a financial planner? But before you settle on one do a bit of financial planning of your own: Determine how much you will have to pay the planner and how the charges are calculated There is a growing split in the ancial-planning industry between y those who do their work on a r basis — usually a charge — and those who accept commissions from the proprietors of investments into which planners direct their clients' money Increasingly planners who operate on commissions (some also charge fees) are being accused of not giving their clients the most objective advice or even of steering their clients into the most lucrative investment — for the planner According to a 1986 industry study more than 70 percent of financial planners earn at least 75 percent too-sma- ll fin- fee-onl- If 40r945'4-- Commissioned-planner- also can s something anything aside and do it on a regular basis Even $50 or $100 a month in a savings account is better than nothing financial planners say Of course cash flow can be a major obstacle It's hard to put away anything when you're spending it all on kids car payments the mortgage and medical bills Even without those considerations you may have trouble putting $100 into the bank instead of into a night on the town Couples in their 30s "are usually making some good money say $60000 up to $120000 combined and they're just not looking at other issues like educating a child" said Alan Ezagui president of Ezagui Financial Management Group in Sterling Va "I tell my clients that the biggest asset they have is something that doesn't come in their paychecks and that's time They need to learn the magic of compound interest" Inflation also has a nasty habit of corn 4 14 e :7'r-2- win free gifts and trips from insur- ance companies mutual funds and others who want their clients' money raising further questions about their objectivity "To a great extent there has been a misconception that financial planning is buying investment products" said Mary Malgoire of Bethesda d Malgoire Drucker Inc a financial-plannin- g y firm "It is aligning life objectives and goals with the resources the person has to get there" Md-base- fee-onl- n mut MERIT MEDICAL SYSTEMS INC COMMON SHARES AND ONE WARRANT TO PURCHASE A COMMON SHARE 600000 Units $400 Per Unit A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective This announcement shall not constitute an offer to sell or the solicitation of an'offer to buy nor shall there be any sae of these securities in any State in which such offer solicitation or sale would be unlawful prior to registratice or qualification under the securities laws of any such State A copy of the Preliminary Prospectus may be obtained by contacting: WASATCH STOCK TRADING 4505 South Wasatch Blvd Suite 350 Salt Lake City Utah 84124 (801) Wilson-Davi- 272-270- 0 Olsen Payne & Company 175 South West Temple Salt Lake City Utah 84101 1 (801) & Co s 46 W Broadway Suite 116 Salt Lake City Utah 84101 3 (801) 363-677- 532-131- IMISMINNEMENINSWINIIIMIlt 1111111611111W ThTiP&ll Er0E1 13Xll 31 RIB:CM )1'111E6130r:12 7Z 10101 Libraries and bookstores are chock full of guides and manuals on tuition planning retirement and general financial planning There are some rules of thumb The more time () NEWS DESERET HOME AND SUMMER LIVING 1 high-retur- NEW ISSUE lb Fmullmilmr - - 0- A 1 A - Featuring all 9 Utah Travel Regions :IF GOLDEN SPIKE EMPIRE 2 BRIDGERLAND 3 GREAT SALT LAKE COUNTRY 4 MOUNTAINLAND 5 DINOSAURIAND 6 PANORAMALAND 7 CASTLE COUNTRY 8 COLOR COUNTRY 9 CANYONLANDS t— 1 la i i t d Erorid ' '' ct 1 7:11 ' JI il'4 ' '' - '' -‘ ' i''''il1' ' ) — s PS ekttlirCi'i :PerS 0 ITA d ! ng 1 fl d ewspa Ile Crit:4i (Vti T - LMIIails ME D seret a - (11 - Vr4M-114111"1114114- 1 Pirialnll' fitt-S-1 - MAY 17 18 19 J- P- L - 'ts' I TODAY - - v 44t I - 0 0 237-273- 7 237-298- 5 LiTE 'L 0004k AA CALL t 0-- i PAL t I t 1 ii: 4 "4 ti I i it t- to 0 2372908 0 e 6 0 237-274- E 1 ( 4Ill If you like doing things for people pampering them going the extra mile and doing a little work You're the person we're looking for! We love our customers and we want to treat them special How would you like to be paid for being yourself and delivering the Salt Lake Tribune or Deseret News to your neighborhood or nearby? PALACE 4 Call today and start iL being a nice person! 237-290- 3 - I 4 I "1t1Wt”!P 237-290- 0 getting paid for 237-275- 5 "144:4itIF-Aot:"tv'"4-- c!srMST - you have the more chances you can take because if an investment goes down you can wait for it to recover — or at worst start over Thus if you have a long time but chancy inframe vestments like stocks or real estate are a good bet On the other hand if you have a short time frame put the money into stable investment vehicles such as certificates of deposit the financial planners say They probably won't earn as much but you know the money will be there when you need it Another important and often overlooked area is your employment benefits If your long-tergoal is a retirement nest egg and your employer offers a 401k plan join it and designate that the funds you save be put half in a bond fund and half in a stock fund Armstrong advises If start a Keogh you are to it contribute and regularly plan pounding the cost of things Take college costs for example Tuition room and board at a good public university these days run about $7000 a year But college costs have been increasing at 7 percent to 8 percent a year substantially above the overall regular rate of inflation How can a young family possibly come up with that kind of money? "It's a real dilemma no question What you have to do is pay yourself first Put aside what you need the minute you get your paycheck" said Marvin R Burt president of Burt Associates Inc in Bethesda Md Once you decide what you're saving for you need to decide how to do it This announcement is neither an offer to sell nor a solicitation of an offer to buy these securities The offer is made only by the Prospectus one-thir- sales" per-hou- 1111k4g41' Savings Retirement Goals? Get Started Now 190 '::: ipwtoP4500211—'1'17' wiT wyrTr : -: !11!'IMPlar!r‘ISL$101A"ft44-- |
