Shenandoah Valley Business Journal - August 2019

Volume 20, No. 10, August 28, 2019

Women Engineers Stake Claim In Male-Dominated Field

Spotlight

on:

In n e m o W s Busines Page 3

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SHENANDOAH VALLEY BUSINESS JOURNAL

Wednesday, August 28, 2019

Inside This Issue The Shenandoah Valley Business Journal is a monthly publication of the Daily News-Record, 231 S. Liberty St., Harrisonburg, VA 22801.

Focus Section: Women In Business ■ The Journey Of Women In STEM Field..................Page 3

Other Business News

Editorial Staff

■ Historic Inn Taking Reservations Again...........Page 8

Publisher: Craig Bartoldson

■ Thomas House Sold To County Residents.....Page 11

Managing Editor: Clarissa Cottrill

■ Leadership..................................................................Page 9

Contributing Photographers: Daniel Lin, Ian Munro

HARRISONBURG — Gabrielle Koontz of Classic Kitchen and Bath in Harrisonburg has been named to Pro Remodeler’s 2019 class of Forty Under 40.

Koontz, 36, a certified kitchen designer, was recognized in the design category by the industry magazine.

The recognition is important to the magazine because “it gives Koontz us an opportunity to celebrate something of paramount important to our industry: young talent,” according to its website.

“They come from vastly different backgrounds, locations, and specialties, but it’s their stellar reputations that drew our at-

Contact us By mail: Shenandoah Valley Business Journal P.O. Box 193 Harrisonburg, VA 22803 By email: svbjnews@dnronline.com By fax: 540-433-9112 By phone: 540-574-6281 (news) 540-574-6223 (ads)

Columns

Staff Writer: Ian Munro

Classic Kitchen And Bath’s Koontz Named ‘Forty Under 40’

Harrisonburg, Va.

■ Investments.................................................Page 10

tention, and their innovations and accomplishments that earned them this award,” the website says.

Nine Flora Pettit Attorneys Named ‘Best Lawyers In America’ HARRISONBURG — Nine attorneys from Flora Pettit have been named to the 2020 edition of “Best Lawyers in America.”

The selected attorneys are Michael E. Derdeyn, John W. Flora, Lisa Anne Hawkins, Richard H. Howard-Smith, Donald D. Long, Jennifer E. Shirkey, Bill Shmidheiser, Cathleen P. Welsh and J. Page Williams, according to a press release.

Since first published in 1983, “Best Lawyers” has become universally regarded as the definitive guide to legal excellence, the release says. “Best Lawyers” lists are compiled based on an exhaustive peer-review evaluation.

— Staff Reports

On The Cover: Daniel Lin / DN-R Valley Engineering design engineer Michelle Snyder goes over plans at her desk on Aug. 23.

The buildings for Golden Corrals have a 20-year “shelf life,” Lawhon said.

“We need a new building and can’t get it HARRISONBURG — The Harrisonburg lo- in our current location,” he said.

The Golden Corral moved to the East cation of Golden Corral, a restaurant buffet Market location in 1997, accordchain, is closing its doors someing to previous Daily News-Retime after Labor Day, said Mat “It’s all about the cord reports.

Lawhon, director of operations right spot, with On East Market, the restaufor the location. the right traffic rant has become a regular The Harrisonburg Golden for the right price meeting place for various clubs Corral has been serving guests — as it always is. and groups in the surroundfor 42 years, with a previous locaing areas, such as the Kiwanis tion at 1580 S. Main St., according to previous Daily News-Re— MAT LAWHON Club and the Vietnam Veterans cord advertisements from 1981.

DIRECTOR OF OPERATIONS Chapter 1061.

Golden Corral’s management There will be no new Golden wanted to let customers know of Corral opening to take the place intentions to close as early as possible. of the location at 2335 E. Market St. The building is also listed for sale on LooBut that could change, Lawhon said.

“If we can find the right spot then abso- pNet, a commercial real estate website, for lutely,” he said of opening a new location. almost $2.3 million.

“It’s all about the right spot, with the right traffic for the right price — as it always is.”

— Ian Munro

Harrisonburg Golden Corral Buffet To Close After 42 Years

Harrisonburg, Va.

SHENANDOAH VALLEY BUSINESS JOURNAL

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‘A Woman Can Be An Engineer Just Like A Man Can’ Local Professionals Share Experiences In Largely Male Industry

By IAN MUNRO

Daily News-Record

HARRISONBURG — The engineering industry is vast, and includes more than just the incredible diversity in concentrations such as civil, environmental or mechanical.

However, only 13% of engineers are women and one-third of women who have left the engineering sector cite work organizational climate as their reason for leaving, according to the Society of Women Engineers.

Jodi Michael, 54, is a mechanical engineer with Valley Engineering who has been in the field since 1989 and faced some adversity when first entering the sector.

“Well, I think when I first got out of college, I will say there was more resistance back then to women in engineering,” Michael said.

It was often older men who were suspicious, Michael said, especially as she was just out of school, but she emphasized that she felt she did not get “a lot of resistance.”

“I would say over the years, especially over the last 15-ish years, that it’s definitely changed,” Michael said. “You’d find a few individuals out there, but for the most part they respect you as an engineer — as a person.”

“Society kind of said, ‘A woman can be an engineer just like a man can,’” she said. “I just think that’s changed over the years.

Michael graduated from West Virginia Tech and then spent her first 11 years in engineering at the Dunham-Bush plant, which stood where Harrisonburg Crossing is now.

“They manufactured systems, so I answered questions to all the sales [representatives] from around the country to say, ‘This equipment can do this or that,’ ” Michael said.

She then was a consulting engineer for HVAC design for Shenandoah Engineering. She joined Valley Engineering in 2005.

Now in a supervisory position,

Daniel Lin / DN-R

Valley Engineering project coordinator Jency Clopper, center, and billing coordinator Donna Zazenski look over spreadsheets on Aug. 23.

Michael leads a group for Valley Engineering.

Heather Martin, 26, is one engineer whose father instilled in her a love of science.

When she went to high school, her teachers recommended engineering as a practical application of the subjects she enjoyed, she said.

She went on to Messiah College, where she graduated in 2013 and has been with Valley Engineering as a civil engineer since.

She said she didn’t see many women doing exactly what she saw herself doing in the field.

“As far as faculty, [there were] one or two female professors, but they weren’t in my field of engineering,” Martin said. “So as far as having a female role model, I don’t think I ever had anybody.”

One-fourth of James Madison

University’s engineering professors are women out of the 16 employees, said Jacquelyn Nagel, associate engineering professor and assistant engineering department head.

“Which is quite impressive, considering a lot of engineering departments,” she said.

Outreach to young women to begin considering futures in engineering is part of the work she does in the community.

“Since I started as a faculty member at JMU since 2011, I’ve been offering workshop on engineering every year,” Nagel said.

However, getting women interested in engineering is not a silver bullet, Nagel said.

“At the college level, even when women choose to go into engineering — that doesn’t mean they’re going to stay,” Nagel said. “There’s a

whole new landscape of social biases to overcome.”

Nagel is the faculty adviser for the JMU chapter of the Society of Women Engineers, of which she has been a professional member since 2001.

“I’m able to work one-on-one with our officers and interact with our members,” she said.

The chapter works to help women engineers find jobs after college with interview training and professional as well as career development.

“These social biases start very young,” Nagel said.

Women engineers who have children also help to dispel the idea that engineers are only male, Nagel said.

“With more women who become moms going to the field of engineering, they’re able to pass on this knowledge to their children,” she

said.

Engineers solve problems, Nagel said, and “a lot of our children want to help others and framing engineering as that would be helpful.”

But there are other jobs in the engineering business that use other skills than science, technology, engineering or math.

Betsie Michael, 41, no relation to Jodi Michael, first worked at Valley Engineering in an alternative septic system department and is now the company’s director of business development.

She ran the wastewater treatment division beginning when she joined Valley Engineering in 2001.

However, she realized she was adept in improving relationships with customers and selling a product.

See ENGINEER, Page 6

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Wednesday, August 28, 2019

HARRISONBURG – ROCKINGHAM

Chamber of Commerce Letter From The President Looking Ahead “Where did you go to, if I may ask?’

‘To look ahead,’ “And what brought you back in the nick of time?’

‘Looking behind,’

L

J.R.R. Tolkien, The Hobbit

ooking back is useful in understanding the past, good and bad, which helps us understand exactly where we are today and how we got there. Looking ahead is much trickier but it helps to shape our thoughts and plans in the present to prepare for the future. Everyone has heard how change has accelerated over the past few years, and change is unavoidable. While the last economic downturn is now ten years behind us, there are still many businesses looking back as they expand today, but maybe not as fast as they financially could because they can’t shake the feeling of ten years ago. And there are those who are content today and would be satisfied with the status quo, but they know the reality is that change is coming. Then there are those who embrace the thought of a new economy, even if the picture is a little cloudy looking beyond the foreseeable future.

When I started to write this article, I had just returned from the BRCC ribbon cutting for the new BioSciences building.

With BRCC and JMU planning for the future of STEM jobs, the community was well positioned when Rockingham County officials became aware of the opportunity for Merck’s new expansion and they jumped on board. There are plenty of business examples of companies and communities in the right position at the right time to take advantage of and seize an opportunity. There are plenty of examples with the opposite storyline. As a business or an association, like the Chamber, with the speed of business changing with technology, population trends, ever evolving consumer habits, etc., you can’t afford to stay in the same place for too long and stay relevant. You need to look over the horizon, if possible.

This year’s Connections2019, the Chamber’s premier B2B event, is all about looking ahead, through the lens of the present and with an eye to the future. Looking ahead is a great theme for such a gathering of business and community leaders, with such a stellar line-up. We have three people with unique perspective on business in Virginia and the Valley, willing to share their observations with us. We have two of the most important people in local government ready to share facts and figures and their views on where we are today and where we are heading in the future. And we are lining up three special sessions that should interest all Chamber members, again with an eye to the future.

Always trying to look ahead, the Chamber has a number of ongoing initiatives and programs that do just that. Two of my favorite programs are Leadership Harrisonburg-Rockingham (LHR), now in its 40th year, and Building Optimal Leaders by Design (known as BOLD), a recent addition in 2012, providing leadership skill, community knowledge, and opportunity for people to become more engaged and to make a positive impact on our community, immediately and well into the future. The Business Smarts series is designed to provide information to help member businesses and organizations prepare for long-term success. The Business After Hours events are for member networking, but the intent is always to help members broaden their base of contacts so that somewhere down the road those relationships will help the individuals, companies and the community prosper.

These are just a few examples. The Chamber can help your business, but YOU need to be involved and engaged. Please put Connections2019 on your calendar. Like they say in the community development world, there is no standing still. If your community is not growing and moving forward, you are falling behind. And this being an election year, followed by another one in 2020, the only thing that is certain is the uncertainty ahead. Connections2019 is being designed to help you move forward, so if you are in business, please take advantage of this opportunity.

Frank

Frank Tamberrino President and CEO

Harrisonburg, Va.

STAFF Frank Tamberrino President & CEO frank@hrchamber.org Sheena Armentrout Director of Membership & Investments sheena@hrchamber.org Sara Wittig Director of Marketing & Communications sara@hrchamber.org Carlie Floyd Administrative Assistant information@hrchamber.org Trent Turner Finance & Administration Manager trent@hrchamber.org

CONTACT US Harrisonburg-Rockingham Chamber of Commerce 800 Country Club Road Harrisonburg, VA 22802 (540) 434-3862 information@hrchamber.org

VISIT OUR WEBSITE TODAY TO: BECOME A MEMBER

http://chamber.hrchamber.org/ member/newmemberapp VIEW AREA JOB POSTINGS

http://chamber.hrchamber.org/ jobs JOIN THE CONVERSATION + KEEP UP WITH YOUR CHAMBER NEWS & EVENTS www.facebook.com/hrchamber www.twitter.com/HR_Chamber www.youtube.com/hrchamber www.linkedin.com/company/ harrisonburg-rockinghamchamber-of-commerce www.instagram.com/harrisonburg rockinghamcc/

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Harrisonburg, Va.

Wednesday, August 28, 2019

CHAMBER COMMITTEES If you’re interested in building relationships with local businesses and community leaders who share similar interests and passions, join a Chamber Committee. Visit the Chamber’s Online Events Calendar or call the Chamber Offices for more information on upcoming committee meetings for Chamber Members.

Aging in Place Roundtable educates the community about local services supporting vitality and choice in the second half of life and provides a forum for discussion and collaboration about the issues surrounding aging in place.

Shenandoah Women’s Alliance is a network of dynamic, diverse women empowering one another through inspiration, education and service.

Business Councils - including Broadway-Timberville, East Rockingham, Greater Ashby, and Diversity - provide businesses opportunities to connect through informational and educational meetings in order to promote the economic vitality and quality of life throughout the community.

Hospitality Committee exists to improve the economic competitiveness of the hospitality industry through dialogue and relationship building.

Public Policy identifies, evaluates and monitors social, political and environmental trends, issues and concerns affecting the business community.

CHAMBER MEMBER2MEMBER DISCOUNT PROGRAM Save money and help support the local economy by choosing Harrisonburg-Rockingham Chamber of Commerce members for your business and personal needs.

If you’re a member and haven’t taken advantage of this member benefit, contact 540-434-3862 to sign up today!

Spotlight On New Members

2019 Calendar of Events MONTHLY EVENTS: Business Smarts Educational & Professional Development Classes, Networking Events and the following committees: Ambassadors, Public Policy, Regional Business Alliances, Aging in Place Roundtable, Member Success Orientations.

QUARTERLY EVENTS: Business at Breakfast, Leadership Smarts, Shenandoah Woman’s Alliance, Speed Networking

Arcoiris Daycare Bank of America Merrill Lynch Country Roads Audiology & Hearing Aid Center C&F Mortgage Corporation First Citizens Bank Good Shepherd School and Day Care Grace Retirement Village Gray Jay Provisions Harrisonburg-Rockingham Child Day Care Center Harrisonburg City Schools VPI Program Kid’s Harbor Preschool and After School Liberty Mutual Insurance Our Community Place Rocktown Hot Yoga Shenandoah Automotive Service Center Sproutly Virginia FFA Foundation

Visit our website for an easy-touse, online database of all Chamber Members or pick up your free copy of our Membership Directory at the Chamber Office. There are current opportunities to secure your place in the next issue of Community Profile and Membership Directory. Contact Nick Yankosky at nyankosky@tspubs. com or 513-275-3684.

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Harrisonburg, Va. FROM PAGE 3

“That’s what kind of took me into business development,” she said. “I think I quickly figured out I was better in business development than engineering.”

Now, she helps to connect engineers to projects.

“I get the doors opened up to engineers to bring them to the table,” she said. “I’m kind of their extrovert that opens the door up.”

Connie Good-Hess, 49, a partner and general manager at Valley Engineering, on the other hand, was brought in because of her business acumen.

“Over the years my position has really grown into more of an oversight type,” Good-Hess said. “It’s the standing joke that I’m the person that makes sure we get paid every two weeks.”

The business relies on relationships to get deals, Good-Hess said. As well, word spreads by word-of-mouth about the company’s work.

“We spend a lot of our time continually cultivating those relationships,” Good-Hess said.

“We’re not the girls you’d call for load calculation,” Good-Hess said of herself and Betsie Michael.

However, they still work in the overwhelmingly male sector that is engineering.

“We go to conferences where Connie and I are one of the few women in the room,” Betsie Michael said.

However, the large number of women in leadership positions helps with recruitment, Good-Hess said.

“When you come here, you’re automatically going to see women in leadership positions within this company and that’s perhaps not something you see at a lot of engineering firms,” Good-Hess said.

And that visibility is important to women in the workplace, Jodi Michael said.

“It’s definitely great to see women in the supervisory positions or management positions,” she said. “That definitely says to me, before I was in the management role, that that is a possibility within this company.

“I would say that if you come into this industry, you have to know that it has been, historically, a male-dominated industry,” Good-Hess said. “I think it’s less and less becoming that — I think you’re seeing a lot of science or math-based careers going that way.”

Contact Ian Munro at 574-6278 or imunro@dnronline.com. Follow Ian on Twitter @IanMunroDNR

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Harrisonburg, Va.

Historic City Inn Begins Taking Reservations Again

By IAN MUNRO

Daily News-Record

HARRISONBURG — An iconic Harrisonburg business, the Stonewall Jackson Inn Bed and Breakfast, is in the process of reopening, and behind the helm stands a young married couple — Becca and Joel Graham.

The pair moved to Harrisonburg from Elizabethtown, Pennsylvania, in October as Becca, 24, got a job as an outpatient registered dietician at Sentara RMH Medical Center.

Joel, 26, is the senior international operations manager for Spikeball, a handball game played using a trampoline.

They rented a room from Wayne Engel, 86, the previous innkeeper, before he stopped taking reservations in 2018.

When Becca and Joel Graham first indicated they would be interested in taking over the inn, Engel was pleased.

“My first reaction was very enthusiastic and positive because they are two very brilliant folks. They’re young, but they bring goodness and energy,” Engel said.

“It’s a great career for a couple that wants to work together and live together and have a lot of fun,” Engel said.

And that’s just what the two were looking for.

“Becca and I have been looking for something we could work on together,” Joel Graham said. “A business or project that we could do that’s something we own [and] gives us a little more autonomy.”

The inn was a great way for them to accomplish that, he said.

The pair have different strengths they will use to make the inn a success, Becca Graham said.

“Joel has business back-

ground and is adept and excited by the business side of things,” such as finance and marketing, she said.

“Whereas I enjoy the day-today tasks — cooking, cleaning.”

Both Becca and Joel Graham said that their favorite part of their old jobs was interacting with people — something they will definitely carry with them as they move into innkeeping.

“At some point we would definitely love to include a nutrition-education aspect,” Becca Graham said.

“Whether it’s using the space to host some community classes or cooking classes.”

The inn will keep its name and not much will change at the outset, Joel Graham said.

“It’s obvious Wayne ran a very successful business here and the last thing we want to do is come in and make a bunch of changes before we learn the goods and the bads,” he said.

Local connections are important with businesses like the Stonewall Jackson, Engel said.

“I think that’s something we’re really looking forward to and going to be seeking out partnerships

and any type of relationship with other local businesses,” Becca Graham said.

The idea to reopen the inn was not an impulse decision.

“One of the things that first triggered our interest in this was over Christmas, we were talking to a cousin of mine who they just started renovating a hotel in a small town,” Becca said.

And that cousin wasn’t the first member of the family to work in hospitality.

“My grandparents owned and ran a motel for many, many years long ago,” she said. “I didn’t have really any direct experience with the industry, but we do have some family ties in the industry that have definitely been an inspiration.”

Ian Munro / DN-R Engel, who still lives at the inn, will give them guid- Becca Graham, left, and Joel Graham, the new innkeepers of the Stonewall Jackson Inn Bed and ance on how to best operate Breakfast, pose for a photograph. the business for about six months to a year.

“I think they’ll be very successful and I think they’ll do a very good job,” Engel said. “I think the community will be delighted to have the Stonewall Jackson back in operation.”

Contact Ian Munro at 574-6278 or imunro@dnronline.com. Follow Ian on Twitter @IanMunroDNR

Harrisonburg, Va.

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De-Mystifying Strategic Planning In Three Steps

S

trategic planning seems overly keep the plan on budget — but only if it complex to many leaders. There is incorporated into your regular budgetare many different methodoloing process. gies to choose from when approaching the C. Task: Strategic plans can be amazstrategic planning process. But there are ing tools for focusing on and accomplishbasic steps involved in all strategic planing your priorities, but they must be made ning processes, and understanding those part of your normal operations—or else steps will help leaders in de-mystifying they will become just “one more thing” strategic planning. to do.

Robert McFarland Many organizations don’t take the If you implement these three steps as time to do strategic planning. They don’t you progress through your planning prounderstand it because it sounds more cess, you will find that strategic planning complex than it really is. is not so big a task after all. But it won’t Here are the basic three steps to unhappen by itself. You still have to lead ning is done. At that point, it becomes in- the process — and then focus on getting derstanding and de-mystifying strategic 2. Determine Where You Are Going Creating your strategic plan involves cumbent on you to make sure that the plan it done. planning. a multi-layered approach, much like a comes to fruition. It is imperative that you Robert McFarland is the author of the pyramid. Each component builds upon have performance metrics in place to help bestsellers, “Dear Boss: What Your Employ1. Determine Where You Are ees Wish You Knew” and “Dear Employee: Each organization has its unique set of the other. The information gleaned from you move forward.

A. Time: Using time-based markers in What Your Boss Wishes You Knew.” Robstakeholders, influencers, and customers your stakeholders, influencers, and cuswho should be involved for the plan to be tomers will form the foundation, and all your strategic plan will help you develop ert is also President of Transformational successful — even if it’s only through a your future actions will be built upon the the discipline to complete the plan — but Impact LLC, a leadership development survey. The important point is that you foundation of that information. Looking only if you monitor the plan and assess consultancy helping companies improve their employee cultures to make the compainvolve each of these groups in some way at the big picture, the strategic plan then your progress. will be composed of your fundamentals, B. Budget: Developing associated costs nies healthier, more productive, and more in helping you assess your organization’s priorities, and goals. for each phase of the plan will help you profitable. starting point.

A. Fundamentals will guide everything A. Stakeholders can be loosely defined as anyone who has a stake in your course that your organization does throughout of action, or tightly defined as your board the strategic planning process as well as throughout the duration of your strategic and your executive leadership team.

B. Influencers can be broadly defined plan. Your fundamentals include where as anyone who has any influence on the you are going (vision), whom you serve outcomes of your organization, or nar- (customer), what you do (mission), how rowly defined as only your suppliers and you do what you do (values), and why you do what you do (purpose). investors (or donors).

B. Priorities are the five or fewer things C. Customers can be philosophically that your organization will focus on over defined as anyone you have to satisfy to achieve your desired ends (like employ- the duration of your strategic plan. Your ees), or traditionally defined as anyone priorities will emerge from the results who would purchase your products or of your SWOT analysis and your fundamentals. (If you get stuck here, an expeservices.

You could tweak the definitions of rienced facilitator can help your organithese three groups, but the point is that zation draw these conclusions.)

C. Goals are what you want to accomyou must have an understanding of how plish over the duration of your strategic you want to involve each of these groups plan. Your goals should be specific, meain your strategic planning process.

It’s important to gauge these groups’ surable, attainable, relevant, and timeperspectives about what you have go- bound (SMART). SMART goals provide ing for you and what you have going the definition required to get them done. against you through an analysis of your As a result, goals that are SMART are strengths, weaknesses, opportunities and more likely to be accomplished than those NEW LOCATION Conveniently located threats (SWOT). A SWOT analysis will that are not. in Harmony Square These three components will provide help you gain a proper perspective of your situation both internally and externally the building blocks of your strategic plan 1741 Virginia Ave., Suite C, Harrisonburg, VA by looking at what is currently happen- and identify what is important to you so that you can focus on getting it done. ing and what may happen in the future.

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How To Maintain Your Lifestyle In Retirement

Y

ou may have heard the rule of thumb that you need to replace about 80% of your preretirement income if you want to maintain your current lifestyle when you retire. But like many rules of thumb, that advice is much too general for most people, says Herbert Poole CFP® CRC®, Retirement Development Consultant for Wells Fargo Advisors. To help ensure Matthew R. Frakes that you can actually live as comfortably in retirement as you do now, Poole says you need to identify what your desired lifestyle costs. Next, you’ll need a saving and investchanging. You change over time, too. You ing strategy that matches your income needs. different than you planned. may decide to retire to a state with a difHere are the key questions for you and your What Are My Retirement Income Sources? ferent cost of living or change your mind financial advisor to consider: You may have a tax-deferred retire- about how much risk you want to take ment plan through your job, personal and/ with your investments. All of those factors What’s My Ideal Retirement Age? or Roth IRAs, rental property income, and could affect your retirement lifestyle and This is both a financial and a qualihow much income you need to live well in ty-of-life question, says Poole. Financially more. Once you identify all your potential retirement. speaking, you need to determine when you’ll income streams, you can make some smart This article was written by/for Wells have amassed enough savings and invest- decisions — including increasing your in- Fargo Advisors and provided courtesy of vestment contributions now — that could ments to stop working. You want to be able Matthew Frakes , Financial Advisor in to comfortably live on withdrawals from help boost your income when you retire. Harrisonburg at (540) 801-3211. your accounts — without running out of For example, your financial advisor can Investments in securities and insurhelp you determine whether it would be money. ance products are: NOT FDIC-INSURED/ wise to add more income-producing opOn the nonfinancial front, think about what you really want to do during retire- tions, such as annuities or real estate, or ment (Travel? Start an encore business?). to consider more tax-advantaged invest“Ask yourself: ‘At what age could I retire and ments. still be healthy enough to do these things?’”

Poole suggests. As you get closer to your actual retirement age, you can home in on when you can afford to leave work. “Depending on your situation, working just a year or two more than you planned could make a big difference in how much money you have available to live on later,” notes Poole.

How Much Money Do I Need To Support My Current Standard Of Living?

This is perhaps the most important question to explore. “However, you’d be surprised by how many people answer this question by saying to their financial advisors: ‘I have no idea. Just tell me what kind of lifestyle I can afford,’” says Poole. You’re much better off estimating your target retirement budget early, so you can help ensure you’re saving and investing enough, says Poole. Your financial advisor can offer help estimating costs for items like health and long-term care for different parts of the country.

During this process, Poole says it’s also a good idea to separate your necessary costs (mortgage/rent, utilities, food, transportation, etc.) from your discretionary expenses (fine dining, vacations, and more). That way, you know where you can cut costs if your estimated retirement income ends up being

Investments

“

Wherever you are in the process, it makes sense to talk with your financial planner at least once a year — or whenever you face a significant life change. After all, the financial markets and your investments are constantly changing.

You change over time, too.

NOT BANK-GUARANTEED/MAY LOSE VALUE Wells Fargo Advisors is a trade name used by Wells Fargo Clearing Services, LLC, Member SIPC, a registered broker-dealer and non-bank affiliate of Wells Fargo & Company. © 2018 Wells Fargo Clearing Services, LLC. All rights reserved.

How Can I Plan For The Unexpected?

To avoid a financial snag that significantly affects your retirement income, Poole suggests having both contingency funds and contingency plans. For contingency funds, you could earmark money for your grandkids but hang on to the funds in case of an emergency. This could be as simple as leaving money to your grandchildren in your estate plan, rather than putting the money in trust in their names. Contingency plans might include paying for expensive home repairs like a roof replacement before retirement. You might also prioritize which assets (vacation home vs. business rental, for example) you would sell in a financial emergency.

Am I Regularly Monitoring My Progress Toward Retirement?

Maybe you have 20 years left before retirement, or perhaps you’re already in the middle of retirement and planning to live to age 100. Wherever you are in the process, it makes sense to talk with your financial planner at least once a year — or whenever you face a significant life change. After all, the financial markets and your investments are constantly

ESTATE & ELDER LAW ATTORNEYS At some point in everyone’s life, an estate & elder law attorney is needed. Whether you are planning for the distribution of assets at your death, naming someone to act for you during periods of incapacity, needing guidance through the murky waters of applying for Medicaid, or handling the estate of a lost loved one, we are here to help. Clark & Bradshaw has over 70 years of experience helping families and businesses in the Valley, and handling these matters with care and expertise. Elder law also encompasses special needs trust planning for disabled and incapacitated adults and guardianships for young adults incapacitated from birth and for incapacitated adults who have not done proper planning.

Set your mind at ease by planning ahead for you and your loved ones at our convenient wheelchair-accessible downtown Harrisonburg location. Karen L. Rowell has practiced estate planning, administration and elder law in the Shenandoah Valley for over 10 years.

Karen L. Rowell, Esquire Clark & Bradshaw, P.C. 92 North Liberty Street Harrisonburg, Virginia 22802 Telephone: (540) 433-2601 Email: krowell@clark-bradshaw.com Web: clark-bradshaw.com

Harrisonburg, Va.

SHENANDOAH VALLEY BUSINESS JOURNAL

Wednesday, August 28, 2019

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Dayton’s Thomas House Sold To Rockingham Residents

By IAN MUNRO

Daily News-Record

DAYTON — After about 10 months on the market, the historic Thomas House restaurant has been purchased from owner Charles Pennybacker who ran the business since 1994.

Brenda Horrell, 34, and Jack Kearney, 41, both of Rockingham, announced the purchase on the restaurant’s Facebook page on Aug. 9.

“It’s kind of a staple of the community and it has a lot of history,” Kearney said.

“It has a lot of potential to grow.”

The two are the newest owners of the business, which has been serving customers in Dayton for decades. The 10,000-square-foot building was originally constructed in the 1800s and has served as a post office and boarding house.

“We want to try and keep as much of that historic charm as possible and just bring people in to enjoy it,” Horrell said.

Both Horrell, a native of McGrady, North Carolina, and Kearney, a native of Daytona Beach, Florida, have lived in

the area for about 11 years.

“We love the building,” Horrell said. “I remember coming in here to eat probably 14 years ago.”

Horrell has over a decade of experience working in property management and runs an Airbnb short-term rental currently. Horrell and Kearney plan to open several of the rooms to guests for short-term rentals through a Thomas House website and Airbnb’s website.

They said they expect about eight to 10 people at most to stay overnight.

The building has two parts — one is a restaurant and the other includes rooms, which were used as a boarding house by a previous owner, Lottie Thomas, when Shenandoah University still had a campus in Dayton, Kearney said.

More recently, Pennybacker lived in the building and occasionally rented out rooms.

Kearney has worked in a variety of sectors including aviation, fire and rescue as well as computers, but it is his experience in the restaurant industry that he will use most at the Thomas House.

The hours and name of the restaurant will not change, Kearney said, but some things will be added to the dinner menu.

“Namely, hamburgers and a kids menu,” Kearney said. Take-out options are also on the table.

These new items are designed to help attract younger families to frequent the Thomas House, especially with the restaurant’s proximity to Wilbur S. Pence Middle School, he said.

One of the changes Horrell and Kearney will be making include taking customers’ credit or debit cards, which Kearney expects to have up and running during this first weekend.

Pennybacker said he chose not to take cards, but is supportive of the decisions Horrell and Kearney are making to their new business.

“It was 25 good years to me,” Pennybacker said. “I met lots of people. I met lots of friends and I did well.”

Contact Ian Munro at 574-6278 or imunro@dnronline.com. Follow Ian on Twitter @IanMunroDNR

Ian Munro / DN-R

Jack Kearney, left, and Brenda Horrell, new owners of The Thomas House, stand outside the historic building in Dayton. The pair are looking to add more options to the restaurant’s menu, including adding a kids menu, and to open the building’s rooms for short-term rentals.

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Wednesday, August 28, 2019

SHENANDOAH VALLEY BUSINESS JOURNAL

Harrisonburg, Va.