life planning 2012

life planning guide 2012 THE COURIER PAGE �sUnday, janUaRy 22, 2012 www.wcfcourier.com

lifeplanningGUIDE 2012

What Next? Rethinking How We Save

Your Timelinefor Saving for Retirement

FinancialPop Quiz

Your Pet and Your Estate Plan

What to know about Credit Unions

life planning guide 2012THE COURIERPAGE � sUnday, janUaRy 22, 2012www.wcfcourier.com

stock, warns Zvi Bodie, co-author of “Risk Less and Prosper: Your Guide to Safer Investing” (Wiley, 2011).

EmbracE your risk tolErancE

In the wake of the market crisis, “A lot of people realized they don’t have as much tolerance for risk as they thought and are making adjustments,” Potts says. Assessing risk tolerance used to be hypothetical: How will you sleep if your investments drop in value by 10 percent or 50 percent? Now, it’s real and observable: When the markets crashed, did you buy, hold or sell your stocks?

Because you lock in losses if you unload stocks during a market slump, Potts recommends that risk-averse individuals not make adjustments to investments already tied up in a 401(k) account. “Focus on where

you put new contributions,” she says. Funnel new contributions and investments “into vehicles you’re more comfortable with.”

considEr safEr invEstmEnts

Bodie believes that the riskiness of stocks is understated and that many investors have too much allocated to stocks and not enough allocated to safer, inflation-indexed investments. Risk-averse investors in particular should see how far a low-risk investment strategy will take them, and then make adjustments to meet savings and retirement goals. “For safety and protection against inflation, Treasury Inflation-Protected Securities and U.S. savings bonds called I Savings Bonds are unsurpassed,” says Bodie, a professor of management at Boston University. “Initial investment is guaranteed, and return is paid in inflation-adjusted dollars.”

continued on page 3

Saving and Investing: What Next? Tough economic times pushed many families to the brink and left others with a fearful question: Have the old rules of saving and investing changed forever? | by Dawn Klingensmith

Feeling distrustful of the stock market and insecure about your finances and investments? Financial adviser David Gottlieb sits down with people like you almost every day. Into his Pepper Pike, Ohio, office he welcomes an all-American parade of average savers and investors – newlyweds, single moms, families with kids to put through college, couples about to retire – most with a single uneasy question: Has the mortgage industry meltdown, the housing collapse and the rickety economy changed the rules of personal finances and investing? His short answer: No.

Gottlieb does suggest that his clients make one radical change: Tune out the headlines.

“I hear the same rant all the time about the president, the economy, the global economy, Greece. People are making decisions based on headlines and emotions,” which costs them in the end, says Gottlieb, a financial adviser for Edward Jones.

Investors were clobbered with massive investment declines in 2008; however, the recession officially ended more than two years ago. Those who stayed the course have done well since 2009, compared with those who yanked money out of the stock market in a panic.

“If anything, the economic climate reinforces basic financial principles,” says Ruth Ann Potts, manager of advanced planning at Country Financial in Bloomington, Ill.

The aftermath of the great recession is a good time to review those basics and consider some new approaches, based not on doomsday newscasts but on your individual circumstances and goals. What have we learned since the great fall? A lot.

takE a dEEp brEath and stay thE coursEThe market crisis of 2008 proved that diversification offers no guarantee against

losses; however, it tends to reduce the damage. Maintain a diversified, balanced portfolio, Potts advises, and don’t let a market slump change your long-term investment plan. Historically, the market consistently and reliably recovers. A down market may even present an opportunity to add holdings and accelerate your recovery. But keep in mind that stocks are risky by definition; that’s why they have high expected returns. Just because the market historically recovers does not mean that your risk vanishes in the long run, no matter how long you hold onto a

Learn more about…Financial planning at every stage of life at mymoney.govBuying U.S. treasury securities online at treasurydirect.govUsing credit wisely at federalreserve.gov/consumer-info/default.htm

© CTW Features


don’t ovErcorrEct or undEr prEparE

Economic collapse made a big impression on young investors. “This painful economic environment has affected the risk appetite of the 20- and 30-something set. At a stage in life where they can most afford to take on additional risk with their retirement savings, huge numbers of young folks are not,” says former portfolio manager and financial literacy advocate Manisha Thakor, of Santa Fe, N.M. “The problem with this is that it sets them on a path to be under-saved for retirement when they hit their 50s and 60s, and thus they may end up taking on too much risk when they can least afford to, where there are fewer years on their side.”

don’t bE rEtirEmEnt-rich and cash-poor

“People are putting money in 401(k)s but not in the bank,” Gottlieb says, adding that investors have somehow gotten the impression they need to retire with a million dollars.

Consumers also have been advised that anytime they come by extra cash, such as a bonus, they should use it all to pay down credit card debt. Gottlieb says to use some or most of it to chip away at your balance, but to keep the rest “just for the sake of having cash again and paying for things in cash instead of feeling broke all the time and charging things.”

Beef up your emergency funds, too. Having the equivalent of three to six months’ salary or living expenses set aside is still the recommended minimum, Potts says, but high unemployment rates and the struggling economy suggest six to 12 months’ worth might be more prudent.

In addition to an emergency reserve fund, have a “put-and-take” savings account for unexpected day-to-day expenses like home appliance repairs or occasional splurges, Potts recommends.

If you are saving for a particular item or event, consider opening a separate “earmarked

and untouchable” account just for that: “You almost need to open up different accounts for different savings goals so you won’t touch it. When you put everything in a general account, it gets spent,” says Gottlieb, who has an account designated for his daughter’s bat mitzvah. “I understand people will fight me on this and say [the money] is not making interest. But cash gives you the ability to buy things, not borrow things.

“The rate of return is not the issue," he says. "It’s having money on hand when you need it.”

trEat Education as an invEstmEnt

Student-loan debt now eclipses credit card debt. “As the price of education has risen and wages have stagnated, it’s no longer a no-brainer that any educational debt is good debt,” Thakor says. “In the current environment, it is essential to step back and think strategically

about how much you are paying for an education relative to the earnings you expect as a result. When the return on investment isn’t as high as you’d like, it’s time to think creatively. That may mean living at home while going to school or taking a year or two off before even starting school to live at home, work and save. Or, start at a community college and then transfer to a state school.

“The point is to view education as any other valuable asset and make sure the return justifies the up-front investment.”

© CTW Features

Windsor Has Everything You Deserve

QualityRespectComfort

StaffCare

Choice

2305 Crescent Dr., Cedar FaIIsPhone: 319-268-0489E-mail: [email protected]

Skilled Rehab to Home Carewith On Site Therapy

We are a licensed, secure unit for those with Chronic Confusion and

Dementing Illnesses (CCDI)

Step Confi dentlyInto the Future

When planning for your family,contact your local credit union to discover

the variety of steps available to helpsecure your fi nancial future.

CUNA Mutual Group2000 Heritage Way, Waverly, IA 5067710001981-1211 LifePlan


employer does not match a portion of your contributions to a company 401(k) plan, Schaeffer says, it could be worth seeking out one who does.

Job changes and even career changes are common at this stage. “If you enter a defined contribution plan and if you have good savings levels at every job, career changes are fine,” Rappaport says.

This may be the time a young couple welcomes their first child. When women take a break from work for childbirth and child-rearing they lose immediate income and also lower their lifetime earnings, reducing retirement benefits. Sewell says the wife should propose that half her husband’s savings during that time fund the retirement accounts.

Continue to save in a disciplined fashion, even if investments are growing steadily. Back in the day, an investor could simply pick a sound allocation of funds within a 401(k) and “everything would be fine,” Schaeffer says. This is no longer true.

Individuals who begin their retirement savings in their 30s should save around 13 percent of their income, according to The Actuarial Foundation.

in your 40s“You should be approaching peak

earning years," Schaeffer says. “College may be competing with retirement for your savings dollars. If your lifestyle will allow, save aggressively.”

Home and auto loans, bills and retirement savings alone can cause

financial strain during this life stage. But the addition of college tuition payments can make it unbearable, even for families that have made all the right financial steps thus far.

According to a 2008 study from the National Center on Higher Education and Public Policy, college costs are roughly a third of the median family income for lower-middle-class Americans. The Actuarial Foundation

advises parents to ask children to help pay for their education with earnings from summer and part-time jobs, scholarships and loans.

“If you make bad decisions on cars and mortgages and college, you’ve shot yourself in the

foot,” says financial planner Sewell.The Actuarial Foundation

recommends those who begin saving

Saving for Retirement: The Timeline How to think smarter and plan better for retirement at every stage of life | by Taniesha Robinson

Funding retirement is easy. Just ask planner David Schaeffer. “Make all you possibly can. Save all you possibly can.” And, start early. Often, the people asking him for help on the eve of retirement didn’t screw up their investments. “It’s not that they did something wrong. It’s that they never did something,” says the Schaeffer, , a retirement planner with Futurity First Insurance Group in Phoenix. There’s something for folks at every age to learn about saving and investing for retirement. Start here.

in your 20sSaving for retirement savings isn’t

a hot topic among 20-somethings. But young people develop financial habits and make life decisions that can have lifelong consequences.

“The kind of job you get when you’re young, in your 20s, can have a big impact on your lifetime security,” says Anna Rappaport, a consultant for the Women’s Institute for a Secure Retirement, Washington D.C. “A teacher or a policeman gets into a public pension plan. That’s a lot different from getting into an occupation where there’s likely to not be much benefit.”

Today, expected retirement income from pensions or 401(k) accounts must be coupled with disciplined lifelong personal savings, says Bonnie

Sewell, principal financial planner at American Capital Planning, W a s h i n g t o n , D.C. “This is the easiest time in your life to save if you don’t buy into an expensive lifestyle,” Sewell says. “Regardless of your age, your

focus should be on disciplined saving and less on investments.”

It can be difficult for someone who just entered the labor force to think about saving for retirement. “If it feels better to call it ‘choices savings’ rather than retirement, do that,” Sewell says. Early savings allows more “choices” later on: career changes, marriage, divorce, health issues and more.

The Schaumburg, Ill.-based Actuarial Foundation recommends people who begin saving in their 20s to put away about 10 percent of their income, a common rule backed by other financial advisers. If they are able, Sewell and Schaeffer recommend those in their 20s save up to 20 percent of income, which they say is ideal.

in your 30sThis is the time to eliminate debt

and be smart about a home purchase. “Hopefully, college debt is behind them and the only loans in place are well-managed, auto- and housing-related loans,” says Schaeffer. If your


in their 40s to put away 20 percent of income.

in your 50sIt’s time to sock away every nickel. Ideally,

for savers of this age, mortgage costs should be in the range of 10 percent of income, Schaeffer says, and auto costs should be low. “College costs are behind you and you are in the 20-year home stretch to retirement,” he says.

Make “catchup” contributions to retirement savings now, if necessary. Resist any permanent withdrawal of

retirement funds, especially before age 59.5, when early-withdrawal penalties disappear. Most account withdrawals will be taxed.

Individuals who’ve just begun their retirement savings during this life stage need to save around 40 percent of their income, according to the Actuarial Foundation.

at age 65Full Social Security benefits kick in at this

time, but it’s not going to be the reward that past generations saw. If retirement savings have been lackluster over the years, there are some rescue options. “There’s no reason that people who haven’t saved enough are doomed to a spartan existence, unless they insist on living in a high-class area or continue to spend

at a level that is unsustainable,” Sewell says.She suggests taking on an extra job – part-

time may be enough – and perhaps creating a stream of income on the side from selling something you make or providing a service, from building websites to de-cluttering homes.

Retirees can expect to spend 4 percent of retirement assets annually to stretch savings over their remaining years, Schaeffer

says. More than that is a problem.© CTW Features

WO-012212009

3146 Kimball AvenueWaterloo, IA

319-233-3146

Offering Service for the Livingwith Respect to the Deceased

for the past 88 years.

The Kearns, HuismanSchumacher Chapel

...Largest one-level facility in Iowa...20,000 sq. ft. facility...200 person seating

...Community Room for pre-and post-funeral lunches

Established 1924

K K

FINANCIAL PLANNINGFINANCIAL PLANNINGENTIRE FAMILYENTIRE FAMILY

FORFORYOURYOUR

Whether you’re a small business owner, evaluating your estate planning strategies, or sending your kids to college, we can help you plan to reach your financial goals through personal, customized financial planning.

Larry K. Fox & AssociatesA financial advisory practice of Ameriprise Financial Services, Inc.

3404 Midway Drive, Waterloo Phone: 319-234-7000

larrykfox.comAmeriprise Financial cannot guarantee future financial results.Ameriprise Financial Services, Inc., Member FINRA and SIPC.


mutual fund fees quietly add up. the difference of half a percentage point – a fund that charges 0.75 percent vs. a fund that charges 0.25 percent –

costs an investor with $100,000 invested in mutual funds in a 401(k) account how much more per year? a. $50 c. $250 b. $100 d. $500

What percentage of mid-dle class americans have no written financial plan?a. 19 c. 59b. 39 d. 69

What’s the best strategy for paying off debts:a. Pay off smallest debts with a low APR first, in order to reduce your overall number of loans

b. Concentrate on paying off the biggest debt with the highest APR first

the graduates of 2011 are the most indebted class in history, with an average student loan debt load of: a. 7,300 c. $27,300b. 17,300 d. $37,300

are the following state-ments about credit unions true or false?a. Credit unions are nonprofit financial institutions. b. Credit unions are owned

and controlled by members, not profit-seeking shareholders c. Credit unions offer fewer services than regular banks d. Credit unions are restricted to employ-ees of certain companies or organizations e. Profits at a credit union go back to members in the form of lower fees

postponing retirement until age 70, rather than claiming social security at age 62, results in a benefit that is:

a. 75 percent higher b. 55 percent higher c. 35 percent higher d. 15 percent higher

average life expectancy of a u.s. citizen:a. 68 c. 88 b. 78 d. 90

in the wake of the great recession, what propor- tion of parents provide grown children financial assistance? a. 25 percent

b. 33 percent c. 50 percent d. 66 percent

What’s the average wage for u.s. workers?a. $33,000 c. $53,000b. $43,000 d. $57,000

What is the annual per-centage rate on a new credit card?

a. 12.99 percent b.13.9percent c. 14.99 percent d. 15.99 percent

© CTW Features

Pop Quiz: Time to Run the Numbers Don’t tell us you’re no

good at math. Or, you forgot your calculator. Or, you have to get back to Angry Birds. Increasing your financial security calls for clear thinking and focus. Take a minute and test your savvy

How do you rate?

10 correct:Warren Buffet wants to friend you!9 correct:Close… less Angry Birds, more Suze Orman!8 or less correct:It’s time to do some homework!

1. d: $500 per year2. d: 69 percent3. b: Although many people choose to eliminate small debts first, which makes them feel they are making prog-ress, they’d save more money long-term if they paid off larger, higher-inter-est debt first4. c: $27,300 5. a: T b: T c: F d: F e: T6. a: 75 percent higher7. b: 78 years8. d: More than two-thirds, or 66 per-cent, double the rate of 20 years ago9. b: $43,00010. c: 14.99 percent as of Nov. 2011


WO

-012

2120

41

IMPORTANT TAX ADVISORYFor Business Owners & Self Employed

Are You Utilizing The Government's Tax Break ForLong-Term Care Planning?

• Use pre-tax corporate dollars to protect your retirement savings and personal assets.

• Select who is eligible, including spouses.

• Optional Paid-up protection before retirement. Never use retirement savings to pay costs.

Long-Term Care Insurance Protection May Be 100% Tax Deductible

- s ince 1923 -

w w w . s i n n o t t a g e n c y . c o m

622 West 4th StreetWaterloo, IA 50704Fax: 319-234-8133

C O N T A C T

Lance KrugerPhone: 319-233-6103

Email: [email protected]

An Independent Environment with the support of an Assisted Living

Community!

We provide Memory Care in a secured environment

707 Highway 57Parkersburg, Iowa 50665

319-346-9771Call Us for a Tour or see our Website:

www.parkerplaceretirement.com

Learn more about…Managing your money at ftc.gov (select Consumer Protection and look for Money Matters, under What’s New)

Making smart money decisions at extension.org/personal_finance

Setting up a template for your budget office.microsoft.com/en-us/templates(search “home budgets”)

Managing money online at mint.com

© CTW Features

one person’s{ }Time for an upgrade.is another’s{ }No way! Thanks Dad!

Advertise your items under $500 FREE in The Courier’s Classified Section.

SUBMIT YOUR ITEMS TODAY AT WCFCOURIER.COM

WHAT YOU GET: 2 lines for 6 days FREE. Items must be priced in ad at $500 or less. Merchandise only. No vehicles or pets. Limit of 5 ads per customer per week. Additional lines $1.50 each. Ads accepted online only.


As for Fido and Fluffy…

Pets are full-fledged members of many families – and, more often these days, part of mom and dad’s estate plan | by Lindsey Romain

Pets in the family financial plan? It’s not as far-fetched as it sounds.

More pet owners are seeking ways to care for their animals should they die unexpectedly before their pet.

Sensational celebrity pet tales are one reason for the uptick; Leona Helmsly, the controversial New York real estate investor, notoriously left $12 million to her dog, Trouble, in 2007. “There were a couple of big, notorious cases, with people leaving millions of dollars to their pets,” says Danny Meek, a financial consultant who runs Pet Trust Law Blog, a website that helps pet owners incorporate pets into estate planning. “The public took notice and thought, ‘Maybe this is something I can do for my pet.’”

The instinct to plan for Fido’s or Fluffy’s extended care parallels the rise in the notion that pets are full-

fledged family members. In a May 2011 survey of 1,500 pet owners by PetMD, the majority of respondents (73 percent) said if they could only have one friend, they would choose their dogs over a human. More than 8 in 10 surveyed by dog-treat company Milo’s Kitchen said dogs are an equal member of their families. Fifty-eight percent said they are comfortable calling themselves “mommy” and “daddy” when referencing their dogs, and 35 percent refer to their dog as “son” or “daughter.”

By 2013, the American Pet Products Association predicts that the pet insurance market will reach $400 million. “As people grow older, they lose their family members, and they really start accepting these pets as their family,” says Meek.

And what better way to honor that bond than to provide continuing care

for an animal after mommy or daddy has passed?

The cost of taking on an animal’s care is one consideration. According to the American Society for the Prevention of Cruelty to Animals, the estimated cost of annual pet care and maintenance can range from $270 for a small bird to $1,845 for a large dog. Close friends and family members may not be prepared to take on the sudden expense of an orphaned pet. Beyond food and shelter, most pet owners are concerned about setting up loving care for their pets.

Effective post-life animal care is possible by providing for pets in wills, trusts or other specialized financial documents.

The average cost of setting up a pet trust fund can range from $500 to $1,500, although it can be done for less.

Rachel Hirschfeld, a New York lawyer and animal rights activist who specializes in estate planning, developed a simple online protection agreement that allows a pet owner to make sure a pet is cared for by someone the owner trusts. The do-it-yourself agreement is a quick, cheap ($39) way to provide for a pet’s care “should the unthinkable happen.”

“I found that a lot of people weren’t doing pet trust funds because they were too expensive or time consuming, or they were too concerned with legal things,” says Hirschfeld. “Only the rich dogs were protected.”

budgEt optionalThe amount left in a fund in com-

pletely dependent on the lifestyle of the pet and how much the owner


WO-012212035

Now that mom lives at NewAldaya Lifescapes, I don’t have to worry when I call and can’t get ahold of her. I have peace of mind knowing that she is just out having fun!

Call today to find out how you can save up to $10,000 when you

choose NewAldaya Lifescapes!Call Kristena at 268-0401 or visit us at

www.newaldaya.org

Don’t wait to enjoy life.

Mom hasn’t!

You belong at NewAldaya, where you’ll fi nda sense of community for every stage of life:

• Independent Living • Assisted Living• Skilled Care • Extended Care

7511 University AvenueCedar Falls, IA

WO-012212042

chooses to leave in their name.

“Some pets have a very simple lifestyle,” says Meek. “Some pets get a $75 pet massage twice a week. If a pet is accustomed to that lifestyle, the owner invari-ably wants the pet to have that same lifestyle after they’re gone.”

Horses, for example, are

expensive to maintain, and thus their fund should re-flect that. The number of pets left behind would also determine the amount.

Although amounts ear-marked for pet trusts are as unique as animals and their owners, Hirschfeld says the average pet trust fund is about $25,000.

“We had somebody leave close to $1 million to take care of their pet turtles,” she says.

Who gEts fido?Often the most difficult

part in establishing a pet trust fund is selecting a pri-mary caretaker. “It’s very difficult for people who don’t have close friends and relatives,” says Meek.

Many people without close contacts want to leave

their pet with their veteri-narian – not a good option, says Meek, since they don’t typically have the time or inclination to take on the job. A wiser option if no friend or relative has agreed to provide care, says Meek, is to leave the pet with the Humane Society along with money for the pet and a do-nation to the society.

When Mommy and Daddy Divorce

The death of an owner isn’t the only legal hurdle for pets. Divorce also can make things ugly. David Pisarra, a child custody lawyer and co-author of “What About Wally? Co-Parenting With Your Ex” (Libero Media, 2011), suggests that pet owners who divorce should be mature and concise about pet parenting, should both owners choose to stay in the life of the pet.“In my experience, having a thoroughly drafted plan that you can each refer to reduces confu-sion over who is responsible and what you have agreed to,” Pisarra says. “That takes away the friction of miscommunication so you can just relax and enjoy your pet’s love.”He notes that courts are often reluctant to recognize pet-sharing plans, which makes these self-de-veloped plans even more worthy.If a co-parenting arrangement promises to be too stressful for a high-strung pet, Pisarra says owners should try to recognize the harm it may cause and work to-gether to establish a different plan.“There are always situations where one parent needs to let go,” he says. “But even in those cases, a parenting plan can still allow for occasional visits and time-shar-ing. Dogs are generally more OK with travel than cats, so the type of pet is also a factor.”© CTW Features

Get the latest issue February 7 at HyVee, Fareway and other locations! For a full list

of magazine locations, visit www.cv-hg.com.

IOWA’S PREMIER

HOMEMAGAZINE

CEDAR FALLS I WATERLOO I CEDAR RAPIDS I IOWA CITY

IN STANDS FEBRUARY

7TH!

life planning guide 2012THE COURIERPAGE �0 sUnday, janUaRy 22, 2012www.wcfcourier.com

WO-012212039

With the economy in turmoil, there’s rarely been a more important time for families to draft a detailed financial plan. Such a plan, including strategies for achieving big life milestones (education, buying a home and retirement), saving, investing and dealing with inevitable setbacks, can help steer families through challenging times.Few of us are prepared. Some 79 percent of people claim to have a financial plan, according to a 2011 survey by the Certified Financial Planner Board of Standards, but this number is misleading. Nearly half of those with a plan, 46 percent, say that it exists only in their heads; 11 percent say they only have written down some notes or ideas, not a complete plan.Financial planner Simon Singer says too many families spend more time planning a vacation than they do making decisions about their life’s finances. A financial plan, like a vacation, requires setting a destination and establishing an itinerary. “You need to know where you are going and how you’re going to get there,” says Singer, founder of Advisor Consulting Group, Los Angeles.Families need to know where they stand financially, even if their finances are in disarray. Doug Hendee, certified financial planner for Brighton Securities, Rochester, N.Y., sees many families who ignore financial troubles in hopes they’ll simply disappear. “So many people are embarrassed to look at their

finances,” Hendee says. “But ignorance in this case is not bliss. How will you know what you need to do if you don’t take a look at your financial situation to figure out where you stand?The good news is that crafting a financial plan doesn’t have to be an unpleasant chore.The most important part of any financial plan also is the simplest: a budget.

A budget should take into account the money a family brings into the household each month. It also should list all of a family’s expenses. These should be divided into two main categories. Fixed expenses are those that don’t change from month to month: insurance payments, mortgage payments, student loans. Then there are discretionary or charges that fluctuate

month to month, including utility bills, gas, entertainment spending and groceries.“Families need to know where their money is coming from and where it is going,” says Nancy Skeans, partner with Schneider Downs Wealth Management Advisors in Pittsburgh. “If they don’t understand that, it’s almost impossible for them to understand how much they

can save and where they can cut expenses.”Families shouldn’t focus too much on the small details of a financial plan, Hendee says. What’s most important is that they start putting together a financial plan as soon as possible, even if it’s not yet complete.

© CTW Features

Odds are, you say you have one, but you don’t. Why your family needs a financial plan | by Dan Rafter

On the Way to a Financial Plan

life planning guide 2012 THE COURIER PAGE ��sUnday, janUaRy 22, 2012 www.wcfcourier.com

• Factory Trained and ASE Certified Technicians to maintain and service your vehicle right the first time.• Drop your vehicle at either location, we will take your vehicle to where it needs to go.• Shuttle Service and Rental Cars Available

• Early Morning Late Night Drop Off• We Use Genuine Factory Parts• We Are A Full Service, Tire And Battery Service Center• Full Service Body And Paint Repair Services Available National Institute for

AUTOMOTIVE SERVICE

EXCELLENCE

4521 University Ave., 277-5010 • 1-888-316-8124 4030 Lowes Blvd., 234-5800 • 1-888-598-7333

SERVICE MANAGER SPECIAL

10% OFF LABOR

Expires 3/18/2012

Any repair of $100or more. All makes

and modelsMust present coupon. May not be combined

with any other coupons

Cedar Falls 277-5010 Waterloo 234-5800

LUBE, OIL & FILTER CHANGE

$2695Change oil up to 5 Qts. Northland oil. Change oil filter and lubricate chassis. Other oil brands, late model pickups, diesel engines, Hybrids and some Cadillacs require more oil. Charges will be higher. May not be combined with any other discounts or coupons. All Makes

andModelsExpires 3/18/2012

Cedar Falls 277-5010 Waterloo 234-5800

Community Service One, it’s not just about the car...It's more about the convenience and dedicated to service!

OF WATERLOO

155 E. Ridgeway Avenue, Waterloo, IA 50702

319-272-2622151555555555 E RRRRiiiidgeway AAAAvenue Wate lrloo IA 507702020202

caring staff, companionship and most important...independence

319 272 2622Sponsored by Wheaton Franciscan Sisters

Offering private apartments

in a friendly community• On-site 24 hour care• Personal response system for emergencies• Individualized care plan• No Buy-InAll in a beautiful safeneighborhood setting

Assisted Living

Learn more about…

Investing and consumer protection at investor.gov

The basics of investing at investoreducation.org

Effective ways to save at consumerfed.org (click on Financial Services)

© CTW Features

Stardust Productions A Tribute to the King Competition

Special Guest 2009 World Champion, Jesse Aron

Preliminary for the “King of The World” CompetitionEmcee: Ronny Craig

BLUE SUEDE MEMORIES II

Up To 20 Elvis Tribute Artists from asfar away as London, England, Competefor a share of $5,000 in CASH Awards

Tickets and Show Information.·1-319-232-1062 • www.eenonline.com

Historic ElectricPark Ballroom

Waterloo, IowaShowtime 7pm - Doors Open 6 pm2 Different Nights -2 Different Shows

March 30 & 31, 2012

Advanced Tickets available till March 28, 2012;General Admission $25 per night • VIP $30 per night • Gold Circle $35 per night

Bus Tour - Woosley Tours 1-319-393-1742

In Search of a Financial AdviserThe key to finding the right investment services provider is asking the right questions – both of yourself and of prospective providers. Following are some questions from the Coalition for Investor Education, a group of state securities regulators, consumer advocates and financial planning and investment advisers, to help you identify the right provider for you.Remember, there are no foolish questions. Any reputable provider should be happy to discuss

these issues with you and answer any questions you may have. © CTW Features

Do you need help developing strategies to reach your financial goals or do you sim-ply want suggestions on appropriate investment products to implement your goals?

Do you prefer working with someone who is primarily considered a salesperson, an adviser or a combination of the two?

Do you prefer paying for investment ser-vices through a fee, commissions, a per-centage of assets in your account or a combination of these?

How important is it to you that your provider have a legal obligation to act in your best interests and disclose potential conflicts of interest?

How involved do you want to be in decisions about your specific investments?

Do you want assistance with a few targeted areas, or do you need a comprehensive plan for your finances?

Do you already have a portfolio of investments you would like help managing?

life planning guide 2012THE COURIERPAGE �� sUnday, janUaRy 22, 2012www.wcfcourier.com

One Million Members Strong.

join us! facebook.com/iowalittleguy

One of Iowa’s most unique communities.

Join Us.IowaCreditUnions.com/OneMillionStrongw

By Jim [email protected]

Reprinted from the Nov. 13, 2011 Sunday Courier

WATERLOO --- Cedar Valley credit unions are riding a wave of growth in the midst of an overhaul that has touched major banks.

According to the Iowa Credit Union League, assets in the state’s credit unions increased by 11.13 percent, to about $9.5 billion, between June 2010 and June 2011. Membership went up 3.12 percent in the same span. Total cash loaned out grew from $5.7 billion to $6.2 billion.

Between 2006 and this year, credit unions saw their assets increase 68.68 percent, loans go up 50.9 percent and membership rise 10.66 percent.

“We have seen growth, certainly over the last couple of years and throughout our history,” said Mark Koppedryer, vice president of branches with Waterloo-based Veridian Credit Union, which has 163,000 members and $1.9 billion in assets. “That hasn’t changed over the last couple of years, certainly. We’ve seen growth this year among our branches and new accounts and deposits.”

It has been “across-the-board” growth, he said.But it’s nothing new, he added.The Credit Union National Association estimates that

from Sept. 29 to Oct. 29 of this year, 7,000 new members joined credit unions, moving $49 million in new deposits

from their banks to credit unions.Headlines across the country have spotlighted credit

unions as havens in the wake of Dodd-Frank, the financial reform bill that Congress passed in 2011 and President Barack Obama signed into law.

The bill’s controversial Durbin Amendment forced large banks, with assets over $10 billion, to lower transaction fees that they charge retailers for customers who pay with debit cards.

The Durbin Amendment did not apply to smaller community banks that are predominant in Iowa, nor did it apply to credit unions.

But that could change, said Mark Heth, president of Iowa Community Credit Union in Cedar Falls.

“At this point, the interchange thing really hasn’t affected us, but it’s going to,” he said. “The large merchants and Visas and MasterCards are going to know where they can make the most money. They’ll get down to where they send out transactions through one or two that pay the same.”

For now, Koppedryer said, credit unions are enjoying a surge of popularity.

“I think the big thing is it’s probably created much more awareness of the credit union movement overall and that there are more choices out there for people in the community for people to partner with for their financial needs,” he said.

Jim McGee, marketing director with Cedar Falls

Community Credit Union, agreed.“We’ve been getting a lot more positive press coverage,

but in this market we’re not going to see as much an impact, as we don’t have as many branches of the bigger banks,” McGee said.

While federal regulations have had limited effect, economic conditions have created an environment conducive to saving, McGee said.

“I think we’re seeing there results of the flight to safety,” he said. “With the uncertainties in the markets, people are putting their money into insured accounts. Our deposits have grown about 10 percent over the last 12 months.”

In a typical year, he said, deposits might grow an average of 5 to 6 percent.

On the other hand, the University of Northern Iowa Credit Union in Cedar Falls, which has 2,000 members, says it hasn’t seen any dramatic change in its numbers.

“We’ve seen minimal growth; we’re holding steady but not growing at any great rate,” said Lisa Aten, manager.

Credit unions have a long history in the area. The UNI institution has been going for 57 years. Veridian, which started in 1934 as a credit union for John Deere employees, will open its 26th branch Nov. 28 in Coralville.

Iowa has a solid credit union tradition, said Heth, whose credit union dates to the early 1950s.

“With 130-odd credit unions, it’s a very strong credit union-based state,” he said.

Credit Unions Say They’re Gaining Traction

life planning 2012

Documents