The Princeton Union-Eagle http://unioneagle.com Community newspaper of Princeton, Minn. Sat, 31 Jan 2015 04:00:43 +0000 en-US hourly 1 Boy’s hockey: Tigers top Mora http://unioneagle.com/2015/01/boys-hockey-tigers-top-mora/ http://unioneagle.com/2015/01/boys-hockey-tigers-top-mora/#comments Sat, 31 Jan 2015 04:00:43 +0000 http://unioneagle.com/?p=113089 the Princeton Tigers travelled to Mora and earned a 4-2 win over the Mustangs on Friday, Jan. 30.

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Girls basketball team: SMA downs Tigers http://unioneagle.com/2015/01/girls-basketball-team-sma-downs-tigers/ http://unioneagle.com/2015/01/girls-basketball-team-sma-downs-tigers/#comments Sat, 31 Jan 2015 03:58:33 +0000 http://unioneagle.com/?p=113087 Princeton’s Anna Oakes’ 13 points were not enough overcome Saint Michael-Albertville in a 68-34 loss Friday, Jan. 30. SMA led 38-18 at the half.

Princeton made just 12 of 45 field goal attempts and was 9 of 13 from the free-throw line. The Tigers connected on just 1 of 15 3-point attempts.

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Reduce traffic flow instead of building bump-outs http://unioneagle.com/2015/01/reduce-traffic-flow-instead-of-building-bump-outs/ http://unioneagle.com/2015/01/reduce-traffic-flow-instead-of-building-bump-outs/#comments Sat, 31 Jan 2015 02:20:46 +0000 http://unioneagle.com/?p=113063 By Jack Edmonds

I would like to weigh in on the bump-outs that are being proposed for Rum River Drive in the downtown area.

I am opposed to this proposal and I will lay out my reasons for my opposition and offer up options that will address the concerns of those who are in support of installing bump-outs.

Pedestrian safety and general appearance are the two reasons I hear most often for supporting bump-outs.

Rum River Drive is a main collector street that carries a very high volume of traffic, and bump-outs would only serve to compromise traffic flow and parking. Pedestrian safety can best be addressed by painting very large visible crosswalks and marking them with large visible signage with flashing yellow lights cautioning motorists to be aware of pedestrians in the crosswalks specifically from Third Street South to Third Street North Bump-outs would be very costly to install and add extra time and costs to snowplowing and other maintenance. At a time when property taxes are already too high, this would not be a wise use of those funds. I would find it hard to believe that having or not having bump-outs would affect the decision of a business to locate downtown. A business cannot survive anywhere if it doesn’t have customers.

Traffic volume on Rum River Drive is something that can and should be addressed. Removing the crosswind runway from the Airport Layout Plan and completing 21st Avenue to the industrial park would not only give workers and vendors a much needed second access to the Industrial Park, it would also take some unnecessary traffic off Rum River Drive and through downtown. It would also address the difficulty of accessing Rum River Drive from Ninth Circle and the Baldwin Business District Frontage road. (Marathon, Princeton Auto Center intersection.) The concerns of increased traffic flow through the Industrial Park in my opinion are unwarranted. The streets are not that inviting to through traffic, trucks do not access loading docks off of 12th Street, which would be the likely street used for any increased through traffic, and the entrances to the Industrial Park could be marked as non-through traffic streets, which would also help to address that concern.

I also think that when the new Elementary School is completed in 2016 the traffic flow will be reduced on Rum River Drive. I’m confident that with the help of the school district administration that automobile traffic coming in from the south and the west and only going to the schools on the north side of town can be encouraged and educated to use Highway 169 to the north Rum River Drive exit or Highway 95 to the roundabout and north to Fifth or Seventh avenues.

I am confident that these steps will address the traffic/pedestrian concerns on Rum River Drive and not compromise the downtown businesses. In fact I think that anybody who has to do business downtown will be more inclined to do so if they don’t have to deal with the high traffic volume.

Jack Edmonds is a Princeton resident and former member of the Mille Lacs County Board representing the city of Princeton.

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Recipe: Grandpa Fred’s Blueberry Pancakes http://unioneagle.com/2015/01/recipe-grandpa-freds-blueberry-pancakes/ http://unioneagle.com/2015/01/recipe-grandpa-freds-blueberry-pancakes/#comments Sat, 31 Jan 2015 02:00:33 +0000 http://unioneagle.com/?p=113057 Kayla Nebelung is a junior at Princeton High School and a clerk at Coborn’s in Princeton, mainly at the front end service counter. Her mother, Brandi, is manager of the Little Dukes gas station convenience store at Coborn’s. recipe Kayla

Kayla has two sisters, Amber and Brittany, and a brother, Tyler. Kayla enjoys drawing, cooking, photography and is trying to learn piano. She said she is going back and forth about what she might pursue for a career – either video production or something in the medical field, such as a paramedic.

She said she was always drawing while growing up because her dad Robert has always been artistic. One of Kayla’s photographic subjects has been her Grandpa Fred’s 1948 Dodge. Kayla’s recipe this week comes from Fred, a recipe the family has used when at a cabin in Michigan.

GRANDPA FRED’S BLUEBERRY PANCAKES

1 quart buttermilk

4 beaten eggs

8 rounded Tbsp. sugar

1/2 tsp. salt

1/4 cup oil

3 cups flour

1 tsp. baking soda

blueberries in amount to suit

Mix all the ingredients together but the blueberries and then fold them in. Heat skillet until drops of water skitter across the surface. Fry.

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Arens being presented prestigious “Breaking Barriers Award” http://unioneagle.com/2015/01/arens-being-presented-prestigious-breaking-barriers-award/ http://unioneagle.com/2015/01/arens-being-presented-prestigious-breaking-barriers-award/#comments Sat, 31 Jan 2015 02:00:28 +0000 http://unioneagle.com/?p=113053 Tiger girls soccer coach Pat Arens talks with his team during the 2014 section championship soccer game.

Tiger girls soccer coach Pat Arens talks with his team during the 2014 section championship soccer game.

Princeton resident Pat Arens will be among some of Minnesota’s most inspiring and influential student-athletes, coaches and athletic leaders  recognized at an award ceremony on Wednesday, February 4, at the Minnesota History Center in St. Paul.

The award ceremony will be conducted in conjunction with the 29th-annual National Girls and Women in Sports Day, a nation-wide celebration recognizing the accomplishments of individuals in the promotion and advancement of girls’ and women’s sports.

The 2015 ceremony will be honoring 18 individuals and one team who will receive awards in seven separate categories. Award recipients are nominated by schools, community organizations, recreation centers, and amateur and professional sports organizations.

Arens is being honored with the “Breaking Barriers” award.

Ten years ago, youth soccer programs didn’t exist in Princeton. Thanks to the vision and hard work of Pat Arens in starting soccer through community education, the sport has flourished in the area with over 200 kids playing in grades K-12. This fall, Arens efforts were vividly apparent as Princeton High School began its fifth year with varsity and junior varsity soccer programs. Arens also took the reigns as head coach of the girls’ varsity program in 2014 led the Tigers to conference and section championships and state tournament appearance.

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Is Soros’ Bet on Gross Smart? http://unioneagle.com/2015/01/is-soros-bet-on-gross-smart/ http://unioneagle.com/2015/01/is-soros-bet-on-gross-smart/#comments Fri, 30 Jan 2015 22:31:59 +0000 http://unioneagle.com/?guid=fb9cf621c0b2495f95efabdeace4b508 When a financial genius invests in you, that’s usually a good sign. This seemed to be the case recently when George Soros invested $500 million with Bill Gross at the latter’s new firm. The Soros money went into a separate account that follows Gross’ new Janus Global Unconstrained fund.

Turns out that Gross’ returns since his arrival at Janus in late September are slightly negative, in keeping with his sub-par performance in his last days at his old fund house, Pimco. But since he started at his new employer, his former flagship fund, Pimco Total Return, has outpaced his Janus showing, up 3.5%.

Has Gross, whose long-term record is extraordinary, lost his touch? Soros might have made a bad bet here.

Sure, a lot of folks don’t particularly care for financier and philanthropist Soros. Those on the political right are specifically annoyed that he leans to the left and that he prides himself on his progressive views (“a prominent international supporter of democratic ideals and causes for more than 30 years,” according to the Soros website).

Few doubt his abilities to make, earn, manage and control money. Everyday investors might know Oracle of Omaha Warren Buffett better. But Soros, along with the right-leaning oil magnets Charles and David Koch, appear to be among the largest benefactors of political causes.

We all seem to believe that money rules politics and big money rules bigger politics. Now put politics aside. Soros is one astute investor.

When this legendary financier recently made a $500 million bet on the future performance of Bill Gross at Janus Capital Group, it provided a vote of confidence for the onetime “bond king” of Pacific Investment Management Co., aka Pimco. So did reports of torrents of fresh investment coming into his Janus fund. Last fall, when Gross resigned from Pimco, it was one of the messiest exits from a major investment house in memory.

He now manages assets for Soros Fund Management, Soros’ private investment vehicle, a job that Gross calls an honor.

What gives? The Soros investment is small relative to Gross’ former gig at Pimco – though it does represent a significant amount compared with the total Janus holdings. Using a separate account also insulates Soros from any defections by Janus investors, if Gross’ new fund runs into the persistent under-performance problems besetting Pimco Total Return on the latter part of his watch – lagging behind the Barclays U.S. Aggregate Bond Index, the standard fixed-income benchmark.

Disturbingly, much of the $1 billion-plus in new investments that flooded Gross’ Janus fund came from Gross himself. A Wall Street Journal article reported that Gross pumped $700 million into his new Janus fund. The nature of the Gross-Soros relationship is fuzzy.

Another WSJ story adds that Gross and Soros have met “but don’t have a close relationship.” That might change. You usually want to be close with someone who controls $500 million of your money.

Likely, the Soros move hinges a little on the bond king’s reputation. Gross, with Pimco for almost four decades, managed $293 billion in Total Return alone at its peak in August 2013, and oversaw billions more in Pimco. Reuters reported that $38 billion left Pimco in the two months following Gross’ departure.

Almost 20 years after its publication, his Everything You’ve Heard About Investing Is Wrong remains a solid seller, once critically applauded as “a surprisingly entertaining and thought-provoking book.” For years, the financial industry hung on every word Gross uttered.

Before his departure from Pimco, though, poor investment performance, months of hemorrhaging of fund capital as investors fled and even Gross’ erratic public behavior caused tension.

Last June, Gross donned sunglasses to deliver a disjointed (if not oddball) speech at the Morningstar Investment Conference in Chicago. He likened himself to Gen. George Patton and pop singer Justin Bieber, then joked that he ought to control the media with brainwashing techniques from the 1962 assassination movie The Manchurian Candidate.

Mohamed El-Erian, Pimco’s former chief executive officer, left the company in January 2014, reportedly over personality clashes with Gross. Other key personnel also sought employment elsewhere.

To the best of my knowledge, Gross walked out of Pimco with no fanfare, unless you count the announcement soon after that the Securities and Exchange Commission was investigating whether Pimco inflated returns on one of its exchange-traded funds.

Except for that, it’s just how I retired from teaching: No golden parachute, bonus or party. Unlike Gross and probably like most of you who recently retired, I did not become a billionaire at my old job. Or at my next one.

Follow AdviceIQ on Twitter at @adviceiq.

Phillip Q. Shrotman is founder and president of Principal Planning Service, Inc. in Long Beach, Calif. He was a professor in the Business Division at Long Beach City College for over 29 years, where he held the position as Coordinator for Financial Planning and Insurance for the college. He holds a Community College Instructors Credential from the University of California at Los Angeles and a master’s from the University of San Francisco. He also holds the profession designations of General Securities Principal of the Financial Industry Regulatory Authority (FINRA), Series 7 and 24. He has appeared as a guest on KABC Talk Radio and various television and radio programs.

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 a financial genius invests in you, that’s usually a good sign. This seemed to be the case recently when George Soros invested $500 million with Bill Gross at the latter’s new firm. The Soros money went into a separate account that follows Gross’ new Janus Global Unconstrained fund.

Turns out that Gross’ returns since his arrival at Janus in late September are slightly negative, in keeping with his sub-par performance in his last days at his old fund house, Pimco. But since he started at his new employer, his former flagship fund, Pimco Total Return, has outpaced his Janus showing, up 3.5%.

Has Gross, whose long-term record is extraordinary, lost his touch? Soros might have made a bad bet here.

Sure, a lot of folks don’t particularly care for financier and philanthropist Soros. Those on the political right are specifically annoyed that he leans to the left and that he prides himself on his progressive views (“a prominent international supporter of democratic ideals and causes for more than 30 years,” according to the Soros website).

Few doubt his abilities to make, earn, manage and control money. Everyday investors might know Oracle of Omaha Warren Buffett better. But Soros, along with the right-leaning oil magnets Charles and David Koch, appear to be among the largest benefactors of political causes.

We all seem to believe that money rules politics and big money rules bigger politics. Now put politics aside. Soros is one astute investor.

When this legendary financier recently made a $500 million bet on the future performance of Bill Gross at Janus Capital Group, it provided a vote of confidence for the onetime “bond king” of Pacific Investment Management Co., aka Pimco. So did reports of torrents of fresh investment coming into his Janus fund. Last fall, when Gross resigned from Pimco, it was one of the messiest exits from a major investment house in memory.

He now manages assets for Soros Fund Management, Soros’ private investment vehicle, a job that Gross calls an honor.

What gives? The Soros investment is small relative to Gross’ former gig at Pimco – though it does represent a significant amount compared with the total Janus holdings. Using a separate account also insulates Soros from any defections by Janus investors, if Gross’ new fund runs into the persistent under-performance problems besetting Pimco Total Return on the latter part of his watch – lagging behind the Barclays U.S. Aggregate Bond Index, the standard fixed-income benchmark.

Disturbingly, much of the $1 billion-plus in new investments that flooded Gross’ Janus fund came from Gross himself. A Wall Street Journal article reported that Gross pumped $700 million into his new Janus fund. The nature of the Gross-Soros relationship is fuzzy.

Another WSJ story adds that Gross and Soros have met “but don’t have a close relationship.” That might change. You usually want to be close with someone who controls $500 million of your money.

Likely, the Soros move hinges a little on the bond king’s reputation. Gross, with Pimco for almost four decades, managed $293 billion in Total Return alone at its peak in August 2013, and oversaw billions more in Pimco. Reuters reported that $38 billion left Pimco in the two months following Gross’ departure.

Almost 20 years after its publication, his Everything You’ve Heard About Investing Is Wrong remains a solid seller, once critically applauded as “a surprisingly entertaining and thought-provoking book.” For years, the financial industry hung on every word Gross uttered.

Before his departure from Pimco, though, poor investment performance, months of hemorrhaging of fund capital as investors fled and even Gross’ erratic public behavior caused tension.

Last June, Gross donned sunglasses to deliver a disjointed (if not oddball) speech at the Morningstar Investment Conference in Chicago. He likened himself to Gen. George Patton and pop singer Justin Bieber, then joked that he ought to control the media with brainwashing techniques from the 1962 assassination movie The Manchurian Candidate.

Mohamed El-Erian, Pimco’s former chief executive officer, left the company in January 2014, reportedly over personality clashes with Gross. Other key personnel also sought employment elsewhere.

To the best of my knowledge, Gross walked out of Pimco with no fanfare, unless you count the announcement soon after that the Securities and Exchange Commission was investigating whether Pimco inflated returns on one of its exchange-traded funds.

Except for that, it’s just how I retired from teaching: No golden parachute, bonus or party. Unlike Gross and probably like most of you who recently retired, I did not become a billionaire at my old job. Or at my next one.

Follow AdviceIQ on Twitter at @adviceiq.

Phillip Q. Shrotman is founder and president of Principal Planning Service, Inc. in Long Beach, Calif. He was a professor in the Business Division at Long Beach City College for over 29 years, where he held the position as Coordinator for Financial Planning and Insurance for the college. He holds a Community College Instructors Credential from the University of California at Los Angeles and a master’s from the University of San Francisco. He also holds the profession designations of General Securities Principal of the Financial Industry Regulatory Authority (FINRA), Series 7 and 24. He has appeared as a guest on KABC Talk Radio and various television and radio programs.

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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Affording Retirement Travel http://unioneagle.com/2015/01/affording-retirement-travel/ http://unioneagle.com/2015/01/affording-retirement-travel/#comments Fri, 30 Jan 2015 22:31:58 +0000 http://unioneagle.com/?guid=dcb0b5b47fa7360153344c674fe6d4ef If you’re like most people who think about retirement, you probably imagine traveling in your golden years. Before you browse Acapulco websites and whip out the credit card to buy your ticket, make sure your finances can handle your trip.

First, don’t wait to fulfill your dream. Enjoy the items on your bucket list now while you are healthy enough to walk easily. If that list involves extensive travel that’s suddenly possible with free time after working, realize that seeing the world isn’t cheap.

You can do two things to afford it: increase your spendable income and decrease your travel expenses.

The bonds trap. In today’s virtually zero-interest world of bank accounts, increasing income can be a huge challenge. You either risk your savings in the stock market, hoping for more-or-less continual appreciation of your equities, or you go into bonds.

Except bonds might well be the next big crash. If interest rates finally rise from today’s historical lows, bond values will decrease substantially. In June 2013, the well-known brokerage firm Oppenheimer issued a report entitled “Effect of Higher Rates on Fixed Income Portfolios,” widely taken as a warning about bond investments.

As noted in the report, an interest increase of three percentage points will nearly halve the value of a 30-year U.S. Treasury bond; a jump of only one percentage point will cause an 18% drop in this bond’s value. You take a big loss after even the smallest budge upward in rates.

You have options. Consider a personal pension, where you contribute part of your savings to a financial institution that in turn invests your money to build a lifetime pension for you at retirement. These pensions are based on actuarial principles that offer a higher cash flow than most alternatives.

For instance, if you are 70, deposit $200,000 and wait five years to start withdrawals, you can often get about $17,000 to $18,000 of annual income for the rest of your life. This can fund a lot of travel, particularly when you mix one big foreign trip with two cheaper domestic ones each year.

Look for bargains. You can find many websites to one-click breaks on airfare, hotels, car rentals and all-inclusive packages. Innovative thinking helps, too: Just consider the Gentlemen Host Program.

The cruise industry has long known that older, single women constitute a significant share of shipboard vacationers. These women, often either divorced or widowed, enjoy cruises for the organized activities, lavish dinner and drinks and the entertainment after the dinner. Only thing missing: someone to dance with.

Gentlemen Host, a placement program operated through Compass Speakers and Entertainment, matches groups of such female travelers with outgoing, unmarried conversationalists – who preferably can cut a serious rug on the dance floor. The requirements of the hosts are extensive and activities strictly platonic; hosts’ cruises are almost free.

How much of your nest egg and estate on travel? About three years ago, I met a couple in their 80s who had been educators in public schools. They retired about three decades before and took two cruises each year since.

With only some $80,000 saved for retirement through their entire lives, the couple relied on generous teachers’ pensions and Social Security to fund extensive travel. They estimated that they spent slightly less than $700,000 on the cruises – but the trips were a big life dream.

The couple expected to leave nothing except their house to their kids.

Follow AdviceIQ on Twitter at @adviceiq.

Dr. Harold Wong earned his Ph.D. in economics from UC Berkeley and passed the CPA exam in 1979. He has appeared on more than 400 television and radio programs and published numerous articles in 1,600 newspapers. He writes the column on money for The Arizona Republic, the largest daily newspaper in Arizona, where this article originally appeared in different form. Dr. Wong is a tax advisor and financial educator. He can be reached at (480) 706-0177, haroldwong1@yahoo.com, or www.drharoldwong.com .You can find much of his archived research at www.DrWongInvestorGuide.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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If you’re like most people who think about retirement, you probably imagine traveling in your golden years. Before you browse Acapulco websites and whip out the credit card to buy your ticket, make sure your finances can handle your trip.

First, don’t wait to fulfill your dream. Enjoy the items on your bucket list now while you are healthy enough to walk easily. If that list involves extensive travel that’s suddenly possible with free time after working, realize that seeing the world isn’t cheap.

You can do two things to afford it: increase your spendable income and decrease your travel expenses.

The bonds trap. In today’s virtually zero-interest world of bank accounts, increasing income can be a huge challenge. You either risk your savings in the stock market, hoping for more-or-less continual appreciation of your equities, or you go into bonds.

Except bonds might well be the next big crash. If interest rates finally rise from today’s historical lows, bond values will decrease substantially. In June 2013, the well-known brokerage firm Oppenheimer issued a report entitled “Effect of Higher Rates on Fixed Income Portfolios,” widely taken as a warning about bond investments.

As noted in the report, an interest increase of three percentage points will nearly halve the value of a 30-year U.S. Treasury bond; a jump of only one percentage point will cause an 18% drop in this bond’s value. You take a big loss after even the smallest budge upward in rates.

You have options. Consider a personal pension, where you contribute part of your savings to a financial institution that in turn invests your money to build a lifetime pension for you at retirement. These pensions are based on actuarial principles that offer a higher cash flow than most alternatives.

For instance, if you are 70, deposit $200,000 and wait five years to start withdrawals, you can often get about $17,000 to $18,000 of annual income for the rest of your life. This can fund a lot of travel, particularly when you mix one big foreign trip with two cheaper domestic ones each year.

Look for bargains. You can find many websites to one-click breaks on airfare, hotels, car rentals and all-inclusive packages. Innovative thinking helps, too: Just consider the Gentlemen Host Program.

The cruise industry has long known that older, single women constitute a significant share of shipboard vacationers. These women, often either divorced or widowed, enjoy cruises for the organized activities, lavish dinner and drinks and the entertainment after the dinner. Only thing missing: someone to dance with.

Gentlemen Host, a placement program operated through Compass Speakers and Entertainment, matches groups of such female travelers with outgoing, unmarried conversationalists – who preferably can cut a serious rug on the dance floor. The requirements of the hosts are extensive and activities strictly platonic; hosts’ cruises are almost free.

How much of your nest egg and estate on travel? About three years ago, I met a couple in their 80s who had been educators in public schools. They retired about three decades before and took two cruises each year since.

With only some $80,000 saved for retirement through their entire lives, the couple relied on generous teachers’ pensions and Social Security to fund extensive travel. They estimated that they spent slightly less than $700,000 on the cruises – but the trips were a big life dream.

The couple expected to leave nothing except their house to their kids.

Follow AdviceIQ on Twitter at @adviceiq.

Dr. Harold Wong earned his Ph.D. in economics from UC Berkeley and passed the CPA exam in 1979. He has appeared on more than 400 television and radio programs and published numerous articles in 1,600 newspapers. He writes the column on money for The Arizona Republic, the largest daily newspaper in Arizona, where this article originally appeared in different form. Dr. Wong is a tax advisor and financial educator. He can be reached at (480) 706-0177, haroldwong1@yahoo.com, or www.drharoldwong.com .You can find much of his archived research at www.DrWongInvestorGuide.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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Your Advisor: Honest Opinions? http://unioneagle.com/2015/01/your-advisor-honest-opinions/ http://unioneagle.com/2015/01/your-advisor-honest-opinions/#comments Fri, 30 Jan 2015 22:31:51 +0000 http://unioneagle.com/?guid=3eb3852a7e7e477757cf8b40ee9adce7 You’re in the middle of reviewing your finances with your advisor when you say you’ve got a chance to get in on the ground floor of a great new investment. Your advisor suddenly seems to cringe. How can an advisor best tell you that you have a lousy idea?

First, give yourself credit for daring to both plan with your money and for finding professional help for that planning. A recent survey by insurance and financial services company Nationwide found that a quarter of investors do not have a financial plan and that more than one in three in that group has no intention of creating one.

The most frequently cited reasons investors gave for not working with an advisor: no perceived need for professional assistance and, to a lesser degree, fear of trusting financial advice from a stranger.

So you might already be coming to the advisor meeting with mixed, if not fragile, emotions. With luck, your advisor has the wisdom and diplomacy to wave you away thinking that a questionable move might be a good idea?

Such an advisor would:

1. Identify what you are trying to accomplish, whatever the idea. Do you really need the benefit that you seek from this idea? Is it worth your potential risk?

If, for example, your idea involves investing in a vehicle that brings high risk but the potential for equally high reward, your advisor needs to talk through the situation with you. He or she must try to help you understand that if you really need such a return, this idea might not be really worth the risk.

2. Provide alternatives. After your advisor identifies what you want through the idea, you need to both discuss other possible ways of obtaining what you want – especially those potentially less harmful to your overall financial situation.

Compare and contrast your idea with the alternatives; perhaps make a list of pros and cons of each possible decision. Rather than simply dismissing your views, your advisor needs to also encourage your objectively investigating the given company’s industry, profitability history, competitors and other details.

3. Focus on how the idea fits into your long-term money strategy. Does the idea really even make sense for your particular financial situation or did it just sound like a good idea to you at the time?

Step back and, with your advisor, examine not only the size of the potential returns (and potential loss) but also when you can expect any good returns. Timeframes greatly influence desirability of an investment.

Are you investing to build funds for your child’s tuition in five years or for your retirement in 20? Generally, the longer before you need the money, the more risk you can assume. A good advisor will walk you through all aspects of this investment, including what its returns can fund both today and tomorrow.

You hired this professional for a reason. When it comes to financial ideas and decisions, that professional on your payroll must give you an honest opinion. Anything less and you’re wasting your money in more ways than one.

Follow AdviceIQ on Twitter at @adviceiq.

Karl Schwartz, CPA, CFP, is a consultant at Hewins Financial Advisors, LLC in Miami.
 
The information presented herein is standard information and intended only as a broad discussion of generally available incapacity-planning tools that a reader might consider
discussing in detail with their attorney or other qualified professional advisor(s). None of the information contained herein is specific to the laws, rules or regulations of any state or other governing body, and as such cannot be construed as, or used as a substitute for, legal advice. Further, none of the information contained herein has been written or personalized for any individual, and the information may not be applicable or beneficial to anyone’s personal situation(s). The documents and processes identified herein can be complicated, and in many cases require the assistance of a qualified attorney to execute effectively. To the extent that you have questions about or wish to make use of any of the tools or processes identified herein, you are encouraged to seek the advice of your attorney. You assume full responsibility for your use of the general information contained herein and acknowledge and agree that by using the information contained herein Hewins Financial Advisors, LLC, its affiliates, agents and/or employees shall have no responsibility or liability for any claim, damage or loss resulting from your use of such information. 
 
Hewins Financial Advisors, LLC and Wipfli Hewins Investment Advisors, LLC (together referred to as “Hewins”) are independent, fee-only investment advisers registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940. The views expressed by the author are the author’s alone and do not necessarily represent the views of Hewins or its affiliates. Hewins is a proud affiliate of Wipfli LLP. A copy of Hewins’ current ADV Part 2A discussing our investment advisory and financial planning services and fees is available for review upon request.

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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You’re in the middle of reviewing your finances with your advisor when you say you’ve got a chance to get in on the ground floor of a great new investment. Your advisor suddenly seems to cringe. How can an advisor best tell you that you have a lousy idea?

First, give yourself credit for daring to both plan with your money and for finding professional help for that planning. A recent survey by insurance and financial services company Nationwide found that a quarter of investors do not have a financial plan and that more than one in three in that group has no intention of creating one.

The most frequently cited reasons investors gave for not working with an advisor: no perceived need for professional assistance and, to a lesser degree, fear of trusting financial advice from a stranger.

So you might already be coming to the advisor meeting with mixed, if not fragile, emotions. With luck, your advisor has the wisdom and diplomacy to wave you away thinking that a questionable move might be a good idea?

Such an advisor would:

1. Identify what you are trying to accomplish, whatever the idea. Do you really need the benefit that you seek from this idea? Is it worth your potential risk?

If, for example, your idea involves investing in a vehicle that brings high risk but the potential for equally high reward, your advisor needs to talk through the situation with you. He or she must try to help you understand that if you really need such a return, this idea might not be really worth the risk.

2. Provide alternatives. After your advisor identifies what you want through the idea, you need to both discuss other possible ways of obtaining what you want – especially those potentially less harmful to your overall financial situation.

Compare and contrast your idea with the alternatives; perhaps make a list of pros and cons of each possible decision. Rather than simply dismissing your views, your advisor needs to also encourage your objectively investigating the given company’s industry, profitability history, competitors and other details.

3. Focus on how the idea fits into your long-term money strategy. Does the idea really even make sense for your particular financial situation or did it just sound like a good idea to you at the time?

Step back and, with your advisor, examine not only the size of the potential returns (and potential loss) but also when you can expect any good returns. Timeframes greatly influence desirability of an investment.

Are you investing to build funds for your child’s tuition in five years or for your retirement in 20? Generally, the longer before you need the money, the more risk you can assume. A good advisor will walk you through all aspects of this investment, including what its returns can fund both today and tomorrow.

You hired this professional for a reason. When it comes to financial ideas and decisions, that professional on your payroll must give you an honest opinion. Anything less and you’re wasting your money in more ways than one.

Follow AdviceIQ on Twitter at @adviceiq.

Karl Schwartz, CPA, CFP, is a consultant at Hewins Financial Advisors, LLC in Miami.
 
The information presented herein is standard information and intended only as a broad discussion of generally available incapacity-planning tools that a reader might consider
discussing in detail with their attorney or other qualified professional advisor(s). None of the information contained herein is specific to the laws, rules or regulations of any state or other governing body, and as such cannot be construed as, or used as a substitute for, legal advice. Further, none of the information contained herein has been written or personalized for any individual, and the information may not be applicable or beneficial to anyone’s personal situation(s). The documents and processes identified herein can be complicated, and in many cases require the assistance of a qualified attorney to execute effectively. To the extent that you have questions about or wish to make use of any of the tools or processes identified herein, you are encouraged to seek the advice of your attorney. You assume full responsibility for your use of the general information contained herein and acknowledge and agree that by using the information contained herein Hewins Financial Advisors, LLC, its affiliates, agents and/or employees shall have no responsibility or liability for any claim, damage or loss resulting from your use of such information. 
 
Hewins Financial Advisors, LLC and Wipfli Hewins Investment Advisors, LLC (together referred to as “Hewins”) are independent, fee-only investment advisers registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940. The views expressed by the author are the author’s alone and do not necessarily represent the views of Hewins or its affiliates. Hewins is a proud affiliate of Wipfli LLP. A copy of Hewins’ current ADV Part 2A discussing our investment advisory and financial planning services and fees is available for review upon request.

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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Tiger boys fall to Cambridge in OT http://unioneagle.com/2015/01/tiger-boys-fall-to-cambridge-in-ot-hockey/ http://unioneagle.com/2015/01/tiger-boys-fall-to-cambridge-in-ot-hockey/#comments Fri, 30 Jan 2015 03:45:13 +0000 http://unioneagle.com/?p=113050 Billy Oakes had two goals in a 6-5 boys hockey overtime loss to Cambridge-Isanti on Thursday, Jan. 29 at the Princeton Ice Arena. Cambridge shut out the Tigers in the first period but Princeton rebounded to take a 5-4 lead. Cambridge tied the game at 14:33 of the third period and then got the game winner 26 seconds into overtime.

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Boys lose to St. Michael http://unioneagle.com/2015/01/boys-lose-to-st-michael/ http://unioneagle.com/2015/01/boys-lose-to-st-michael/#comments Fri, 30 Jan 2015 03:31:40 +0000 http://unioneagle.com/?p=113048 The Princeton boys basketball team lost 82-50 to St. Michael-Albertville on Thursday, jan. 29 at Princeton High School. SMA took a 52-28 lead into halftime and then outscored the Tigers 30-22 in the second half.

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