Postourlife2 19 15

Discovering The Mature Lifestyle Written financial plan key to cutting stress at retirement Page 5

Finance

February 19, 2015

February Issue

F

ood undoubtedly is one of the major expenses in any household budget. So it makes sense to explore ways to cut costs in that area, while still retaining quality.

Using coupons is always an option, as is shopping at a discount market.

Fare For All is another option. It offers fresh produce and frozen meat that has been purchased in bulk from wholesalers and manufacturers. Volunteers at the warehouse in New Hope wrap the foods into packages ranging in price from $10 to $25. The packages are sold during scheduled two-hour windows once month, at 30 different locations throughout the Twin Cities area.

“It’s a pretty good geographic spread,” said Sophia Lenarz-Coy, associate director of The Food Group at Emergency Foodshelf Network, where Fare For All is headquartered.

Customers can save up to 40 percent on their grocery bills by buying the pre-packed produce and meat. Sales of the food are open to anyone. No registration or paperwork is required. There are no income or residential restrictions. Customers may pay for their packages with cash, credit or debit cards or EBT (electronic benefit transfer); no checks are accepted.

“Many sites average 100 households as customers,” Lenarz-Coy said. “The more people who come,

Save money on produce and meat at Fare For All

BY SUE WEBBER CONTRIBUTING WRITER

Monday volunteers at the New Hope headquarters of Fare For All are, from left: Kelly Sharp, Ann McNaughton, Lavon Jordan, Joanne Hubbard, John Gitari and Hilario Guzman. (Submitted photo)

the better our order can be. We cut out a lot of the middlemen.

It definitely is a program that has grown a lot.”

Some senior citizens who don’t want or need a full package of meat or produce come to Fare For All with friends or family who will split the packages with them.

“We try to keep the packages to basic foods that lend themselves well to food preparation,” LenarzCoy said. “Meat and produce are so expensive in the stores.”

The Food Group has a nutritionist who creates recipes that are available for shoppers, she said.

Customers may visit any location they wish, just as they would visit a grocery store.

Upcoming delivery schedules are as follows: • Bloomington: 9801 Penn Ave. S., 11 a.m. to 1 p.m. Wednesday; Feb. 18, March 18, April 22, May 20, June 17, July 22 and Aug. 19.

• Burnsville: 200 West Burnsville Parkway, 3-5 p.m. Wednesday; Feb. 25, March 25, April 29, May 27, June 24, July 29 and Aug. 26.

• Eden Prairie: 15050 Scenic Heights Road, 3:30-5:30 p.m.

Tuesday; Feb. 10, March 10, April 14, May 12, June 9, July 14 and Aug. 11.

• Fridley: 6085 7th St. NE, 10 a.m. to noon Thursday: Feb. 12, March 12, April 16, May 14, June FAIR FOR ALL - TO PAGE 7

Page 2 Our Life • Thursday, February 19, 2015

;% + ;%-8 @%- 7 ; '+ ;% '7 % 7'+$ 8;> B B -%+8 -/& ('+8 + ;'-+ ) +8;';>; -+ $'+$ 7 8 7 % 78 8>$$ 8;82 !+ '+$8 ;% 7 8 7 % 78 8 B ->) ) ;- + @ @ B8 ; -* ; * +;' -+ ';'-+ ;% ; ;8 *'))'-+8 - / -/) @-7) &@' + 77' 8 % ?B 8- ' ; ) >7 +82 );%->$% ;% 7 8-+ -7 ;% )'+( ;@ + ;% ;@- -+ '& ;'-+8 '8 >+(+-@+ ;% '+? 8& ;'$ ;-78 8>$$ 8; ;% ; -*& - '+$ 8->+ 8 -? 7 ;% B 78 * B -? 7@% )* ;% 7 '+8 -

post.mnsun.com

;% ; % 7'+$ )-88 ->) ) ; * +;' B * ('+$ '+ '?' >& )8 *-7 8- ' ))B '8-) ; (+-@+ 7'8( ;-7 -7 * +& ;' + -;% 7 -$+';'? '8-7& 782 % ; ? 7 ;% >8 ;% 8 '& +;'8;8 7 /-7; ;% '7 !+ '+$ * B - 7 8; 7;'+$ /-'+; -7 '+; 7? +;'-+8 ? + 8 8'*/) 8 % 7'+$ ' 8 ;% ; ->) ) B -7 /7 ? +; & * +;' B '*/7-?'+$ / ;' +;86 % 7'+$2 4 8 7 % 78 % ? )--( ; @% ; ;8 % 7'+$ )-88 >; @ % ? )--( ; %-@ % 7& '+$ )-88 ;8 -$+';'? 7 '+

; +; /7- 88-7 '+ ;% '?'8'-+ - ;-)-$B ; -%+8 -/('+8 +'? 78';B %--) - '& '+ 2 4 7 % 8+6; + *> % 7-88; )( ;@ + -;-)-$'8;8 + $ 7' ;7' ' +8 8- ';68 + >+ ) 7 @% ;% 7 % 7'+$ )-88 + * +;' 7 7 ) ; 25 - * ( ;% -++ ;'-+ '+ + %'8 -)) $> 8 >8 ; 7-* ;% );'*-7 -+$';>& '+ ) ;> B -+ $'+$ 0 12

'+';' ; B ;%

;'-+ ) +8;';>; -+ $'+$ '+ .," % 8 ;7 ( ? 7'->8 % );% ;-78 '+ ;%->8 + 8 - * + + @-* + -? 7 82 + @ 8;> B /> )'8% '+ ;% 7> 7B 7 %'? 8 - >&

;% ;@ + .,,C + .,,#2 %') ->; 3> 7; 7 - ;% ?-)>+; 78 % 8-* % 7'+$ )-88 ; ;% 8; 7; - ;% 8;> B +-+ % * +;' 2 8 ?-)>+; 78 @ 7 ;% + )-8 )B -))-@ @';% 7 / ; A *'+ ;'-+8 ? 7B -+ ;- ;@B 78 + B =CC " - ;% * % ? )-/ * +;' 2 7 8 7 % 78 ->+ ;% ; 8;> B / 7;' '/ +;8 @';% % 7& '+$ )-88 ; ;% $'++'+$ - ;% 8;> B @ 7 8'$+'! +;)B *-7 )'( )B ;- ? )-/ * +& ;' B ;% + 2 -*/ 7 @';% ?-)>+; 78 @';% +-7* ) % 7& '+$ ;%-8 @';% *') *- 7&

* *-7B&7- '+$ '8 8 2 ? + 7 ;% 7 8 7 % 78 ;--( '+;- ->+; -;% 7 & ;-78 ;% ; 7 88- ' ; @';% 7'8( - * +;' '+ )> '+$ ' ; 8 %'$% )-- /7 88>7 $ 8 A + 7 '+ A/) '+8 % 7'+$ )-88 + * +;' @ 7 8;')) 8;7-+$)B -++ ; 2 4 )-; - / -/) '$+-7 % 7'+$ )-88 >8 ';68 8> % 8 )-@ + '+8' '->8 /7- 88 8 @ $ 5 '+ 8 B82 4 ? + ' / -/) ) 8 ' ;% B 7 +-; ;

7+'+$ 8'$+8 - % 7'+$ )-88 '+ )> ' ! >);B % 7'+$ '+ +-'8B 8';> ;'-+8 )'( 7 8; >& 7 +;8 ;7-> ) >+ 78; + '+$ @-* +68 + %') 7 +68 ?-' 8 + '+$ ;- 8( / -/) ;- 7 & / ; ;% *8 )? 8 /7- ) *8 % 7'+$ -+ ;% ; ) /%-+ + % ?'+$ ;- ;>7+ ;% 7 '- + ; ) ?'8'-+ )-> 72 B-> 8>8& / ; ;% 7 * B /7- ) * B->7 % 7'+$ ; 8; 2 7 8 7 % @ 8 8>//-7; B ;% '+;7 *>7 ) 7 8 7 % /7-$7 * - ;% ;'-+ ) +8;'& ;>; -+ $'+$

ªē hS Ġª÷ ēhÚb èª 3 h ÷,3, h èbhÚ Sh3 , èÎh è3Úè

Sh3 , èÎh hÚ đ h 3 S3 Î÷ ÎĠ φ‫ڂ‬ʅφ΀ ēǸ ij͞Ǹ ij ̬͞˻ٝʊǕǸ͞ ȭ˻͞ bϑ˒ij˞ijǎ Úǎ 3Çh ǎ ij˞Ǖ ˒ij˞٬ ˻ΩɺǸ͞ ʊ˞ͮϑ͞ij˞ƙǸͮȨ

: 2 / ¯ß¯ü ½ ôö ¤Ø

- <!$42 ¯äsü~ ôö ~~

$$" / - 0 äüüß ": "¨ÏÝ eA n óe

$$! " 2$" ~¯ä× :nÓÝ ¤sÝ 0ݽ

4/"09 ¯ß×~~ " [¨ nÝ ón½ 0½

"$ ¯ä Ï e n 0ÄæAÏn 0ݽ ¹ ¨[AÝne £ Ï e n 0ÄæAÏn $·Ý [A æ e £ º

ón£ £ Ób ônn n£eb A£e £ ¨ n A··¨ £Ý n£ÝÓ AóA AQ n½

/nÓnÏóAÝ ¨£ ¨en " ää×

post.mnsun.com

Our Life • Thursday, February 19, 2015 Page 3

When the unthinkable happens.

Early training, values help Minnetonka widow chart her course

BY SUE WEBBER CONTRIBUTING WRITER

J

erry and Bev Carlson were building a log cabin in Nevis, Minn., with plans to retire there eventually.

But no one was prepared for the future that was thrust upon them tragically and very unexpectedly. Jerry died suddenly in his sleep in 1993, at the age of 55.

In addition to coping with her total shock and grief, Bev was left to sort out a plan for her future.

“Our big plan had been that Jerry would build the cabin and rent out a condo we bought in Scottsdale, Arizona,” Bev said.

“We went to Arizona once or twice a year to get it ready to rent and spend a few weeks.”

“Jerry’s dream was to sell our house in Minnetonka, spend May through October at the cabin in Nevis, and then be at the condo in Arizona for the winter.”

Building the cabin took three years, and it was near completion when Jerry died.

The first thing Bev had to do was to sell her house in Minnetonka and find a condo for herself. The first break came when her home sold even before it was put on the market. “Our next-door neighbor had friends who wanted to buy the house,” Bev said.

The next lucky break was when Bev’s son, Steve, found a foreclosed condo at a good price in Minnetonka because it needed a lot of work.

That left the cabin in Nevis and the condo in Arizona. And Bev needed to get a job.

During her move to the condo, she took some clothing to sell at a suburban consignment shop, and the owner told Bev she was looking for help. After Bev took the job, a customer one day came in to consign her clothes and talked about her lake home in northern Minnesota.

Another lucky break: her lake home wasn’t far from Bev’s cabin, and she owned a gift shop there where she needed some sales help.

Bev Carlson of Minnetonka learned at an early age about saving and living frugally. (Photo by Sue Webber)

years were really tough. We’d had a wonderful plan and a wonderful dream, and I had to let it all go.”

“We’d never thought about a long-term plan,” said Bev, who noted that her husband had been a traveling salesman who had some profit sharing, but no life insurance when he died.

But her growing-up years and early years of her marriage may have given her the strength to do what she needed to do once she was widowed.

“Jerry was an old-fashioned traveling salesman who covered five states Monday through Friday,” Bev said. “I had a weekend husband. I was alone all week to raise the boys myself.”

So some things didn’t seem so hard to her when she suddenly became a widow at the age of 53.

“I had always paid my own bills and mowed the lawn,” she said. “I liked it; I was young. I could do all that myself.”

She got some good advice from her husband’s accountant, who continues to advise her, Bev said.

Some of her strength may have been inherited. Bev was an only

child raised by a single mom, who, she said “taught me a lot of values about money.”

“I was brought up alone, and I had to learn to do a lot on my own,” she said.

“I don’t spend a lot, and I do very well,” Bev said. “I live very cheaply; I don’t have big expenses.

I don’t eat out a lot. When I do, it’s a treat. I do love to cook.”

“I do have to watch my budget a lot. I was able to pay off my condo after selling the cabin, and my 12-year-old car is paid for and still in good shape. I cut coupons all the time. I don’t need a lot of new stuff. I take care of what I have.

I shop at Goodwill. I have some savings. I’ve always had a job and a little bank account.”

She is frugal when it comes to grocery shopping, too. “I don’t throw vegetables away,” she said. “I make soup out of them. I wash out plastic bags. My mom did that, too.”

Bev was a widow for nine years before she was able to draw Social Security. “That made me budget,” she said. “I tried very hard not to overspend.”

When she was eligible for So-

cial Security, she started an automatic savings account. She has always had $200 a month automatically removed from her Social Security check and tucked away in a savings account. “I can do that. If I need it, I know it’s there,” Bev said. “At the end of the year, I have another $2,400. My mom always taught me to save.”

Bev’s in a good place now.

She has four grandchildren with whom to spend time, she served on her condo’s association board for seven years, and now is the association’s social chairperson.

She’s been a long-time volunteer in the gift shop at Methodist Hospital in St. Louis Park.

Bev’s judicious budgeting has paid off. She has saved enough money to be planning a cruise with a woman friend this spring.

“This cruise is so special,” she said. “It’s my 75th birthday present to myself. It’s a once-in-a-lifetime dream. I’ve been saving for it for two years.”

It’s a pretty safe bet that the funds for the trip were tucked away in the bank before the trip was ever booked.

“I had to move to the cabin for two years to homestead it, or I would have had to pay a penalty,” Bev said. “And I ended up with a job in Walker, Minn., from May through October.”

While she lived and worked at the cabin, Bev had to get it ready to sell. It needed a wooden floor and new roof, plus a better entry road to the cabin before it could be put on the market.

“During those two years, my older son got a better job and was able to get a loan and buy the cabin,” Bev said.

The Arizona condo, in turn, was sold to one of its renters, a couple from Brainerd, Minn.

Once she moved into her refurbished condo in Minnetonka, Bev continued to find a series of part-time retail jobs to bring in some money.

Looking back on the ordeal now, she is grateful first of all for the help from her two sons, Steve and Mike.

“They were like my bookends; they kept me together,” Bev said. “I don’t know what I would have done without my sons.”

And she’s doubly grateful that the real estate transactions all proBev Carlson with her sons Steve (left) and Mike (right), who she said were the “bookends” that kept her together gressed quickly and fortuitously.

Even so, she said, “The first 10 after she was widowed in her 50s. (Submitted photo)

Page 4 Our Life • Thursday, February 19, 2015

post.mnsun.com

Seniors Have a Different Attitude Toward Money

E

veryone has concerns about money. As writer Jules Renard explained, “I finally know what distinguishes man from other beasts: financial worries.” Not surprisingly, older people worry as much about money as anyone else—but with a twist.

Most seniors have three overriding fears: fear of falling, fear of getting Alzheimer’s and fear of outliving their money.

In “The Threepenny Opera” Brecht wrote, “Life is short and so is money.” But for today’s older adults, the fear is that life may be too long and money even shorter. For some, it’s a needless worry; but for others, it’s a legitimate concern. Many Baby Boomers and other older adults are beginning to realize that they aren’t saving enough for their retirement and Social Security may provide little, if any, supplemental support.

That’s why a growing segment of our older population is phasing into retirement or continuing on the job well beyond the traditional retirement age. Some keep

Guest column ... by Bob Ramsey working because they want to; but many have to stay in the work force to support themselves.

But despite their need to conserve resources and be good stewards of their finite finances, most older adults are also fiercely charitable. They have an attitude toward money that differs from many younger people—an attitude of “frugal generosity.”

They need to stretch their money to make it last; but they also want to contribute whatever they can to something outside themselves.

Repeated studies have shown that the older people get, the more they shift from an

attitude of “having and getting” to one of “letting go and giving back.” They no longer view money as something to accumulate, hoard or store away, but as something to share and give away (to kids, grandkids, charities and good causes) whenever possible.

Likewise, most older people become less interested in “stuff ” (e.g., possessions, bling and belongings) and more concerned about contributing something to the greater good. That’s why seniors often: • vote to raise their own taxes to support schools where they have no students; • downsize and jettison the junk in their lives; • start college funds for their grandchildren’s education; and • are first responders to requests for donations to churches and charities that are important to them.

Older citizens, more than younger generations, view money as a means, not an end. They want to do something worthwhile with their limited resources. They

want to live with purpose and leave some legacy that will last longer than they do.

As one unknown author explained, “They want to plant trees under whose shade they will never sit.”

Even those older adults who continue to work or take up an encore career, usually don’t do it just for the money. Most want to find work that is meaningful and makes a difference. For them, meaning trumps money.

The takeaway lesson, then, is that seniors tend to believe that it’s not how much you have to spend, but how you spend what you have that matters. That’s why they agree with Tao Te Ching’s ancient admonition, “He who knows he has enough is rich.”

Some younger people may call this a naïve attitude. I call it “elder wisdom.” What do you call it?

Bob Ramey is a lifelong educator, freelance writer and advocate for vital aging. He can be contacted at 952-922-9558 or by email at joyrammini@comcast.net.

Don’t make these common IRA mistakes

A

bout 40 percent of U.S. households — nearly 50 million — own individual retirement accounts, which provide tax-advantaged options for saving for your retirement years. The Minnesota Society of CPAs offers the following tips on how to avoid some common mistakes people make when managing IRAs.

income for the year, you will also face a 10 percent penalty if you’re under age 59½.

The required minimum distribution varies based on your total account balance and other factors, so consult your CPA if you have questions. Of course, you can also withdraw more than the minimum required distribution, but be sure to portion out your withdrawals appropriately if you need them to last a lifetime.

Distributions from a traditional IRA are included in your taxable income and your CPA can help you determine how that income will affect your annual tax bill.

Mistake No. 3: Overlook the Roth IRA A Roth IRA may or may not suit your needs, but it’s worth finding out what they have to offer.

The income you receive from a Roth IRA is not taxable to you in retirement (or to your benefiMistake No. 1: ciaries if they receive it as part of your estate) Fail to focus on beneficiaries and you are not required to take a minimum Naming a beneficiary makes it easier for your distribution after age 70½, as you would with a loved ones to access your account in case of your traditional IRA. death. It can also help preserve tax benefits for Note, however, that, unlike a traditional IRA, your heirs and guarantee that your money goes your contributions to a Roth IRA are not tax deto the right people. Be sure to review and update ductible. You can contribute as much as $5,500 your beneficiaries as necessary, especially after a to a Roth IRA ($6,500 if you’re 50 or older by marriage, birth of a child, divorce or the death of the end of the year) as long as your income falls a beneficiary. It’s also a good idea to talk to your below certain levels. However, you can convert CPA about the tax implications for those who a traditional IRA to a Roth IRA no matter what might inherit your IRA. your income. There may be tax consequences from that conversion, though, so be sure to conMistake No. 2: sult your CPA about the right steps for you.

Mistake No. 5: Wreck your rollover Do nothing If you want to move your IRA investment Mistake No. 4: When you fail to set up from one account to another, remember that Don’t take the right distribution or contribute to a retirement acyou have only 60 days to make that rollover While it’s a generally bad idea to tap into your count — whether it’s a plan offered once you withdraw money from the original ac- IRA too early, you can’t leave the money in a tra- by your employer or an IRA — you lose count. If you don’t make the switch in time, or ditional IRA forever. By the time you’re no older out in two ways. First, the amount you if you deposit the money into a regular savings than 70½, you must begin to take required mini- could have saved won’t be there when you’re or other non-qualified retirement account, the mum distributions each year. If you don’t, you ready for retirement. Second, you also miss out penalties can be steep. Not only will the amount could face a 50 percent tax on the amount not on all the interest or dividends that might have of your withdrawal be included in your taxable taken as required. grown tax free in your account over the years.

post.mnsun.com

W

Our Life â&#x20AC;˘ Thursday, February 19, 2015 Page 5

hen it comes to money, many senior citizens have similar concerns, according to Brian Jones of the Edward Jones Investment firm in Farmington. â&#x20AC;&#x153;The biggest things retired people worry about are whether Social Security will be there for them, the way the stock market goes up and down â&#x20AC;&#x201C; its volatility and continuing risk â&#x20AC;&#x201C; and inflation and the escalating costs of things,â&#x20AC;? Jones said.

Bottom line, he said: â&#x20AC;&#x153;Everyone worries about running out of money.â&#x20AC;? â&#x20AC;&#x153;You can only take so much out of your retirement accounts every year, or youâ&#x20AC;&#x2122;re going to run out,â&#x20AC;? Jones said, adding that â&#x20AC;&#x153;a lot of people try to do it on their own by investing on the Internet.â&#x20AC;?

But, he warned, â&#x20AC;&#x153;A lot of people are not disciplined enough to do that.â&#x20AC;?

He suggests that people first must look at their life situation and their lifestyle. â&#x20AC;&#x153;Some people can get by on $30,000 a year; some couldnâ&#x20AC;&#x2122;t get by on $100,000,â&#x20AC;? he said.

The majority of people have not and do not save enough money, according to Jones. â&#x20AC;&#x153;Getting people to save when theyâ&#x20AC;&#x2122;re young â&#x20AC;&#x201C; even if itâ&#x20AC;&#x2122;s only $50 or $100 a month â&#x20AC;&#x201C; will set them up really well when they reach 65 or 70,â&#x20AC;? he said.

Retirees need a solid financial plan on paper

BY SUE WEBBER CONTRIBUTING WRITER

Once people are retired, Jones said, â&#x20AC;&#x153;They need to have a good solid plan. Most people donâ&#x20AC;&#x2122;t have anything on paper. Not everybody will do that. But you need a plan in place that you review on a regular basis.â&#x20AC;?

Many people are continuing to work into their 70s, Jones said. â&#x20AC;&#x153;There also are a lot of people who quit work at 62 and take Social Security,â&#x20AC;? he said. â&#x20AC;&#x153;The majority of people begin taking Social Security at 62.

You should wait as long as possible to begin doing that.â&#x20AC;?

He also sees people with enough money to retire who still are working because theyâ&#x20AC;&#x2122;re afraid Social Security will run out, Jones said.

He suggests that retirees make sure their investments are properly diversified. â&#x20AC;&#x153;If you have that, the risks and concerns of retirement will take care of themselves,â&#x20AC;? he said.

Jones offers an information class monthly at the Rambling River Center in Farmington that deals with a variety of topics of interest to seniors, including Social Security, income and retirement, and health care.

Aging 2030, sponsored by the Minnesota Dept. of Human Services, the MinPLAN - TO PAGE 7

AÂ&#x2DC;ĂłAĂ?Ăś nÂŁĂ?nĂ? ¨¨¡nĂ?AĂ?Â?Ăłn ¨Â?ÂŁ ¨Â?ÂŁ 4Ă&#x201C; |¨Ă? ¨ÌĂ&#x201C;n Z 0ĂŚÂŁeAĂśĂ&#x201C; ä¡Â&#x17E; Â&#x17D;  ¡Â&#x17E; 4Ă&#x201C;AÂŁ |¨Ă?$¡nÂŁ AÂŁ $¡nÂŁ ¨ÌĂ&#x201C;n Â?ÂŁ nQĂ?ĂŚAĂ?Ăś "¨ô Ă?Â&#x152;Ă?¨ÌÂ&#x192;Â&#x152; !AĂ?[Â&#x152; ä߯~ 0ĂŚÂŁeAĂśĂ&#x201C; ä¡Â&#x17E; Â&#x17D;  ¡Â&#x17E;

¨Â&#x17E;n |¨Ă? A ĂłÂ?Ă&#x201C;Â?Ă? ĂłÂ?Ă&#x201C;Â?Ă?b Ă?AÂ&#x2014;n A Ă?¨ÌĂ? AÂŁe Â&#x2DC;nAĂ?ÂŁ Â&#x17E;¨Ă?n AQ¨ÌĂ? ¨ÌĂ?

0nÂŁÂ?¨Ă? ¨Â&#x17E;Â&#x17E;ĂŚÂŁÂ?Ă?ܽ ÂŁÂ&#x2013;¨Ü A [AĂ?n|Ă?nn A||¨Ă?eAQÂ&#x2DC;n Ă&#x201C;nÂŁÂ?¨Ă? Â&#x2DC;Â?|nĂ&#x201C;Ă?ĂśÂ&#x2DC;n Â?ÂŁ Ă?Â&#x152;n Â&#x152;nAĂ?Ă? ¨| ¨Â&#x2DC;enÂŁ 9AÂ&#x2DC;Â&#x2DC;nܽ 2Â&#x152;AÂŁÂ&#x2014; ܨÌ ¨Â&#x2DC;enÂŁ 9AÂ&#x2DC;Â&#x2DC;nĂś |¨Ă? ó¨Ă?Â?ÂŁÂ&#x192; ĂŚĂ&#x201C; §¯ nĂ&#x201C;Ă? 0nÂŁÂ?¨Ă? ¡AĂ?Ă?Â&#x17E;nÂŁĂ?Ă&#x201C; I §¯ nĂ&#x201C;Ă? ¡AĂ?Ă?Â&#x17E;nÂŁĂ? ¨Â&#x17E;Â&#x17E;ĂŚÂŁÂ?Ă?Ăśz

:n |nAĂ?ĂŚĂ?n Ă?Â&#x152;nĂ&#x201C;n ¨£Â&#x17D;Ă&#x201C;Â?Ă?n AÂ&#x17E;nÂŁÂ?Ă?Â?nĂ&#x201C;a Z Â&#x152;n| ¡Ă?n¡AĂ?neb Ă?nĂ&#x201C;Ă?AĂŚĂ?AÂŁĂ? Ă&#x201C;Ă?ĂśÂ&#x2DC;n Â&#x17E;nAÂ&#x2DC;Ă&#x201C; |¨Ă? ܨÌ Ă?¨ Ă&#x201C;Aó¨Ă?

Z 0¨[Â?AÂ&#x2DC; AÂŁe Ă?n[Ă?nAĂ?Â?¨£AÂ&#x2DC; ¡Ă?¨Â&#x192;Ă?AÂ&#x17E;Ă&#x201C; |¨Ă? ܨÌĂ? nÂŁÂ&#x2013;¨ÜÂ&#x17E;nÂŁĂ?

Z Â?QĂ?AĂ?Ăśb [Ă?A|Ă? Ă?¨¨Â&#x17E; AÂŁe ô¨¨eĂ&#x201C;Â&#x152;¨¡ |¨Ă? ܨÌĂ? Â&#x152;¨QQÂ?nĂ&#x201C; Z 0[Â&#x152;neĂŚÂ&#x2DC;ne Ă?Ă?AÂŁĂ&#x201C;¡¨Ă?Ă?AĂ?Â?¨£ Ă?¨ Ă&#x201C;Â&#x152;¨¡¡Â?ÂŁÂ&#x192;b AÂŁe Â&#x17E;¨Ă?n Z -Ă?¨|nĂ&#x201C;Ă&#x201C;Â?¨£AÂ&#x2DC;Â&#x2DC;Ăś Â&#x17E;AÂŁAÂ&#x192;ne QĂś QnÂŁnĂşnĂ?

/nÂ&#x192;Â?Ă&#x201C;Ă?nĂ? 2 ¨ :Â?ÂŁ 9 0

Â?|Ă?

AĂ?e Â&#x2013;ĂŚĂ&#x201C;Ă? |¨Ă? Ă?¨ÌĂ?Â?ÂŁÂ&#x192; z

Ă&#x2014;Ă&#x2DC;ßß ¨Â&#x2DC;enÂŁ 9AÂ&#x2DC;Â&#x2DC;nĂś /¨Ae ¨Â&#x2DC;enÂŁ 9AÂ&#x2DC;Â&#x2DC;nĂśb !" ~~ äĂ&#x2014;

AÂ&#x2DC;Â&#x2DC;

!AĂś Ă&#x;bä߯~ S ÂŻÂŻAÂ&#x17E; Â&#x17D;Ă&#x;¡Â&#x17E;

¨ÌQÂ&#x2DC;n2Ă?nn ¨Ă?nÂ&#x2DC;b Â&#x2DC;¨¨Â&#x17E;Â?ÂŁÂ&#x192;Ă?¨£ Ă&#x2014;sßß "¨Ă?Â&#x17E;AÂŁeAÂ&#x2DC;n ¨ÌÂ&#x2DC;nĂłAĂ?e š Â&#x17D; ¤ I !"Â&#x17D;¯ßߺ

AÂŁ nþ¡¨ |¨Ă? AeĂŚÂ&#x2DC;Ă?Ă&#x201C; ~~Ă Z |Ă?nn AeÂ&#x17E;Â?Ă&#x201C;Ă&#x201C;Â?¨£ Z |Ă?nn Ă&#x201C;[Ă?nnÂŁÂ?ÂŁÂ&#x192;Ă&#x201C; Z |Ă?nn Ă&#x201C;nÂ&#x17E;Â?ÂŁAĂ?Ă&#x201C; Ă&#x201C;nÂ&#x17E;Â?ÂŁAĂ? Ă&#x201C;¡¨£Ă&#x201C;¨Ă?Ă&#x201C;

Ă&#x201C;Â?Â&#x2DC;ĂłnĂ? Ă&#x201C;¡¨£Ă&#x201C;¨Ă?Ă&#x201C;

QĂ?¨ÌÂ&#x192;Â&#x152;Ă? Ă?¨ ܨÌ QĂś

Ă&#x2014;Ă&#x2DC;Ă&#x;Â&#x17D;~  Â&#x17D;¯ß¤ß

ôôô½[AÂ&#x2DC;ĂłAĂ?Ăś[¨¨¡nĂ?AĂ?Â?Ăłn½¨Ă?Â&#x192;

!¨Ă?n enĂ?AÂ?Â&#x2DC;Ă&#x201C; Ă?Â&#x152;Â?Ă&#x201C; Ă&#x201C;¡Ă?Â?ÂŁÂ&#x192;z ôôô½¨ÌĂ?Â&#x2DC;Â?|nÂ&#x17E;£½[¨Â&#x17E;

Page 6 Our Life • Thursday, February 19, 2015

post.mnsun.com

Cities grapple with demand for “mother-in-law’ apartments

BY SUE WEBBER CONTRIBUTING WRITER

T

hey’re known as ohana units in Hawaii. In other areas, they’re called granny flats, motherin-law apartments or carriage houses or ADUs (accessory dwelling units).

As elder adults age and health care costs increase, the cost of housing often becomes prohibitive. In some cases, the cost of a nursing home or assisted-living facility can be avoided if a family is able to house grandparents in an adjacent dwelling.

Scott Hickok, Community Development director in Fridley, said the city’s ordinance does not permit ADUs in the

single-family district.

“There’s a caveat in the ordinance that provides for sharing a house with no locking separation between the two areas,” Hickok said. “But a separate flat with a separate entry is not permitted in the singlefamily district.”

State law stipulates a certain number of people that can live in a home, Hickok said.

Fridley does have some mother-in-law apartments or ADUs in its R-2 district, Hickok said. “That’s a perfect place for them,” he said. “We do have some extended family situations in the R-2 district. The zoning allows it.”

The city of Bloomington requires a lot size of 11,000 square feet for an ADU, ac-

cording to Londell Pease, city planner.

“They’ve been allowed in the city since 2009, but we don’t have a single one built,” he said. “The key for us is that it can’t be be a detached structure. It has to be part of the house. It has to meet parking regulations. If they can’t fit a two-stall garage on the property, it isn’t eligible.”

In Bloomington, an ADU cannot exceed 33 percent of the house, and it has to be accessible from inside the unit. It has to be homeowner occupied.

The city worked hard to get the code adopted after receiving a lot of criticism for not allowing ADUs, Pease said. “We had one person prepared to do it who had the architectural plans drawn up, but it just

didn’t happen.” Since then, several others also have fallen by the wayside, he said.

“I’m surprised,” Pease said. “I’d like to see some come in. But with building codes, it’s not that simple. Electrical has to be upgraded, and that’s not cheap.”

In December 2014, Minneapolis approved a plan for ADU’s on lots with single or two-family dwellings, providing that the homeowner lived in the other space.

“Interesting things are happening nationally,” Hickok said. “We see a lot of ADUs on the West Coast, or in Oregon or California. There are some interesting building industry options for people.”

APARTMENTS - TO PAGE 7

Edina attorney, financial planner offer money tips to seniors Assess financial situation early to make adjustments to saving, spending

BY SUE WEBBER CONTRIBUTING WRITER

If

you’re afraid of running out of money in retirement, you’re not alone.

But according to Tom Gartner of ISC Financial Advisors in Edina, taking your assets, liabilities and cash flow and “doing the math” might turn out to be reassuring.

“Many people who think they are going to be penniless will be okay and can be free to spend some money without guilt,” Gartner said. “Even if you’re not pinching pennies, it’s still better to figure it out early rather than later. The sooner you identify where you’re at, the sooner you can make whatever adjustments are needed. It helps to have clarity. You can make better purchasing and Tom Gartner spending decisions.”

He has observed that Midwesterners tend to have “really good saving habits.” Finding out that it’s OK to spend some of the savings usually comes as a relief to them, Gartner said.

One of the biggest mistakes some seniors make is taking Social Security too early. “You don’t need to wait until you’re 70, but there’s a big reduction in benefits when you take it early,” Gartner said. “You get 7-8 percent more each year that you wait.”

For the last five years, Gartner has put together a monthly newsletter for his customers and finds that they appreciate the financial tidbits and information he puts together. “When you follow the financial news, it’s like

drinking from a fire hose,” Gartner said. “You need someone to distill it.”

Gartner is a strong proponent of getting an estate plan in order. “It’s so common to overlook that and so important to get it in order,” Gartner said. “It’s a polite thing to do for your kids.”

Attorney Joel Mullen agrees that everyone needs an es-

tate plan.

Mullen and his business partner, attorney Matthew Guttman, are the principals at Mullen & Guttman, a nineyear-old Edina law firm that specializes in estate planning.

One of the most common mistakes many people make is not planning ahead, Mullen said.

“Everybody needs an estate plan,” Mullen said. “Not everyone needs a will or a trust.”

He tries to achieve certain goals in working with clients, Mullen said: • Avoiding probate • Protecting assets • Reducing or eliminating estate taxes “We have the same goals, regardless of the assets,” Mullen said. “We try to educate people in a simple manner and help them to understand the goals and the tools available: what they need to do and how to do it.”

One of the firm’s tools in getting the word out about what’s needed is to sponsor between four and eight free seminars a month, offered at a variety of locations throughout the Twin Cities. The 60-90-minute sessions draw 20 or more people each time, Mullen said.

“We definitely get questions about the difference between a will and a trust, or what happens when a loved one dies without a will,” said Kathleen Fedor, client relations director at the law firm.

Other questions concern how Minnesota’s estate tax impacts legacies, she said. “There’s a lot of focus on protecting assets,” said Fedor, who termed the seminars “really educational, very informative” and said they cover the gamut, from basic to more sophisticated concerns.

“It’s really important information for every Minnesotan to have,” Fedor said.

After the firm was formed in 2006, the lawyers began conducting cabin trust seminars. They also feature two client appreciation gatherings each year, Fedor said.

“We take care of our clients,” Fedor said. “We want them to call us.”

post.mnsun.com

Our Life • Thursday, February 19, 2015 Page 7

Fare For All saves on grocery bills FROM PAGE 1

11, July 16 and Aug. 13.

• New Hope: 8501 54th Ave. N., 9:30 a.m. to 7 p.m. select Mondays; Feb. 9 and 23, March 9 and 23, April 6 and 20, May 4 and 18, June 1, 15 and 29; July 13 and 27; Aug. 10 and 24. Every other Monday, the warehouse in New Hope also sells individual meats, produce and dry goods.

• Richfield: 7000 Nicollet Ave. S., 1-3 p.m. Tuesday; Feb. 24, March 24, April 28, May 26, June 23, July 28 and Aug. 25.

• St. Louis Park: 6300 Walker St., 4-6 p.m. Tuesday; Feb. 10, March 10, April 14, May 12, June 9, July 14 and Aug. 11.

Other pickup locations are available in Anoka, Blaine, Chaska, Cottage Grove, Forest Lake, Lakeland, Maple Grove, Maplewood, Minneapolis, North Branch, Northfield, Onamia, Roseville, Shakopee, South St. Paul, St. Joseph, St. Paul, Stillwater and White Bear Lake.

Fare For All partners with community organizations (schools, community centers, faith organizations, etc.) to bring the program to various communities within 75 miles of its warehouse in New Hope. “We are not always able to start new sites, but we do keep an active waiting list,” its web-

site said.

If you are interested in bringing Fare For All to your community, contact Scott Weatherhead at 763-450-4212 or sweatherhead@fareforall.org

Fare For All began in Minnesota in 1986 as Fare Share, part of a nationwide network of Cooperative Food Purchasing programs.

It was run locally by Ramsey Action Program (RAP), a non-profit in St. Paul. RAP started Fare Share to encourage volunteerism and stretch food budgets. When it first began, there were 20 host sites; this number grew to more than 200 sites in a fiveyear period.

The program began to experience tough times in the mid-1990s due to high rental and food costs. In August 2002 RAP

Review financial plan regularly nesota Board on Aging and the Minnesota Department of Health, is a program set to prepare the state for demographic shifts expected in the next 20 years.

In 2011, the leading edge of the large baby boom generation (those born between 1946 and 1964) began to turn 65 at the rate of 10,000 people per day across the U.S. By 2030, the state is expected to have 1.3 million people over age 65. Metro Area

asked Emergency Foodshelf Network food packages without ordering and pay(EFN), now The Food Group, to take over ing in advance.

Fare Share. EFN renamed the program Information: 763-450-3880 or info@ Fare For All and in 2007 launched a new fareforall.org version of the program, Fare For All Express. This enabled customers to buy their

FROM PAGE 5

Agency-Aging estimates that by 2020, Minnesota’s 65-plus population will be larger than the 5-17 school-age population. By 2030, the Minnesota Department of Human Services expects that one in four people in Minnesota will be over the age of 65.

Aging 2030’s booklet titled “Timeline to Retirement” guides people to examine their lifestyle, finances and health and legal issues through the time when retirement is

In-home apartments in demand In some instances, he said, a modular unit can be “craned into a backyard, put on a foundation, and craned off when it’s no longer needed.”

As the baby boom ages and has needs for alternate facilities, Hickok said, ADUs could be “much more palatable then overpopulating the land with senior housing.”

“Inevitably, each city will have to grapple with its aging population,” Hickok said.

“Their care is expensive. People are looking for solutions.”

According to AARP, certified aging-inplace specialists who help senior citizens

Fare For All draws customers of all ages. (Submitted photo)

still a dream, to 5-10 years before you plan to retire, then 3-5 years before retirement, 1-3 years before retirement, the year before you retire, and in the year after you retire.

The booklet notes that fewer people receive pensions from their employers, and that retirement can last for 30 or more years. The amount of money needed for retirement depends on individual lifestyles.

“Some experts say you will need 70-80

percent of your current income to maintain your standard of living in retirement; others say up to 100 percent,” the booklet said.

Personal savings become a critical factor. Ideally, people have saved 10 percent of every paycheck or 10-12 percent of their gross income, the booklet said.

Information: 651-431-2500, www.dhs. state.mn.us/2030, or health.state.mn.us

FROM PAGE 6

remain at home, has doubled to 5,000 since 2008.

“Some builders have begun offering two master suites, a den or family room that can be converted into a bedroom and bathroom on the first floor, and other “bonus areas” with flexible space that can change with family needs,” according to information from AARP. “A two-car garage might shrink to one car and the extra area morph into living space for a grandparent or boomerang kid.”

According to AARP, national builder Lennar in 2011 introduced its first Next

Gen house in Phoenix, geared to more than one generation. Now Lennar offers more than 50 Next Gen floor plans in 120 communities in California, Washington, Arizona, Nevada, Minnesota, Texas, New Jersey, Florida, North Carolina and South Carolina.

“Next Gen’s concept is two houses in one: The main home has three or four bedrooms, and there’s an attached unit with its own front entrance, kitchen, bedroom, living space and garage,” AARP said.

The ADU provides less-expensive than housing grandparents in a nursing home or

assisted-living facility, according to Craig Guillot on PBS’s Next Avenue.

According to the 2012 Cost of Care Survey by Genworth insurance agency, approximately 70 percent of people 65 and older will require long-term-care services at some point, Guillot said, adding that many prefer to receive care in their own homes and close to their families.

The Genworth 2012 survey said the national annual cost for a semi-private room in a nursing home is about $73,000 a year, while assisted-living facilities average slightly more than half that amount.

Page 8 Our Life â&#x20AC;˘ Thursday, February 19, 2015

post.mnsun.com

- ( 0(- - - &$ - 4 0& ! & - - & -

& - !

- & - - - ( 4 &($

& & 0- - -(

0& 2 0 - & -

$ & "- & # )) /. " # 55 * / . $ $ - !$ $ 4$

-( 4 0 ( & ! ( - - 1 & !& ( & !- &0 ( -& 1 4 2 & - - (( !& & ( 1 & &(' & $ & & ! 4( & !& &4 & 1 ( -( 2 - (- ! ($ 4 0% - - - - & ! &( / +) 2 4 0 0(- & ( &1 $ -%( 0(- 2 - 4 0% 3! - & - & - - (- &-( 2 - 4 0$ " "

% " & "

" " " " "

" " & #' # # '$' ' #

" ' '#' #