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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - March 6, 1974, Lethbridge, Alberta The LetWwidge Herald FOURTH SECTION Lethbridge, Alberta, Wednesday, March 6, 1974 Pages 33-40 Life after 65 Money where to find it Ninth of Ten Articles By JACK GOURLAY A major problem encountered in the later years is that of living on a drastically curtailed income, whether it be derived from a private or public pension or a combination of the two. It is difficult for anyone to predict exactly how much money he will need to live in retirement, but unless you are one of the fortunate wealthy, with or without a pension you are going to have to learn to live on considerably less income than you had when you were gainfully employed. Fortunately, many of your expenses will be lowered because living in retirement is far less complicated and less financially demanding than holding a job and raising a family. When you are in your 20s, retirement seems so remote that it would be futile for anyone to suggest that you seriously plan for retirement. But the decade between age 35 and 45 is ideal for starting your financial planning for retirement, just as it is the right time for you to fully develop the mental and physical maturity that will lead you to a purposeful life after 65. Financially, at this time, you should have a savings bank account "cushion" which can be drawn on in case of emergency. This cushion, at this time, should be sufficient to cover three months' living expenses. You should build this fund during your working years by a systematic weekly or monthly savings plan so that by retirement the "cushion" should equal your retirement budget covering a two-year period. Also, be sure that you are adequately covered with life, health and hospital insurance. This is also the time of your life when you should consider investing in your own home. Any surplus funds should at this age go into building your capital via growth common stocks. Or, if you have a large mortgage on your home, you might consider investing your surplus dollars in paying off the mortgage, which is most likely costing you more in interest payments than you could make up from fixed investments. At age 55, you should be at or near the peak of your earning power. Your children are grown, educated, and on their own, and you are 10 years or less away from retirement. This is the time to direct your investments toward building capital through growth stocks. If you already have them, hold on to them. If there are any losses to take, you can take them in the last years of employment. Profits are ideally taken after you retire, when your income tax bracket will be lower. Put the proceeds from either transaction into income- producing securities. Start cleaning up your mortgage and any other long- term debts, and don't take on any more if you can help it. Maintain a comfortable checking account and "cushion" fund. At age 60, analyze your net worth and review your entire estate program, keeping in mind your retirement income needs and your sources of retirement income. Work toward financial solvency. Put half your surplus cash into growth stocks, or a combination of growth and mutual funds. Don't speculate there's not enough time left to recoup any sizeable loss. Be sure that you are still carrying a sufficient amount of accident, health and hospital insurance, and" also, check into your coverage on fire, automobile and personal liability insurance as protection against any possible property loss which could drain your financial resources. At age 65, accept retirement and make the most of it. Sell any low-yield securities (less than five per Put the money into higher-yield issues, including both common stocks and bonds. As you grow older include more high-income bonds in your portfolio. Consider selling some of your equity and converting some of your insurance into an annuity. Make sure that your "cushion" fund is equal to the amount you need to cover your living costs for at least two years. Apply for Social Security and Medicare; remember, they won't automatically come to you. You must apply for these benefits. Live on a budget that will, keep you within your retirement income. Watch your spending. Don't go into debt, and avoid time-payment or installment buying if possible. NEXT: Life After 65 Is It Worth It? For a large, illustrated booklet containing this series in expanded form, send to "Life After 65." Use the reader coupon. LIFE AFTER IS The Lethbridge Heralds P.O. Box 64 Ttantck. Niw Jersey 07666 Enclosed is S------------- Stnd me __ copies of APAImtMt New. .SIM. Make chrcks payahlr to The Associated Branching-Out focuses on politics, literature EDMONTON (CF) Branching Out, a bi-monthly women's magazine making its debut on Canadian newsstands, is not primarily a feminist publication. "But we don't intend to publish anything anti- nor include recipes and fashions that characterize other women's magazines, said Susan McMaster, co- ordinating editor. The focus of the Edmonton- based magazine is on the work Canadian women are doing in areas as diverse as politics, literature and sports. The preview issue contained an article by Jenny Margetts, national co-chairman of Indian Rights for Indian Women; an informal talk with novelist Margaret Laurence, poetry by Margaret Atwood, a 'profile of Sue Nattrass, champion trapshooter, and a review of the work of artist Eva Diener. It's an ambitious project for the editor and her 10 co- workers who are "almost completely new to every aspect" of magazine production. "Basically, we're not in any sense she said of the staff.- "But we're attempting to maintain as high a level of journalism as possible." The idea for Branching Out came partly from Ms., a feminist magazine published in the United States, "but large sections of Ms.i are inapplicable to Canada.'' In addition, Branching Out does not take the "firm and outright political stance" assumed by Ms. "Our political act is to have only women working on the magazine." Business Manager Mary Al- yce Heaton said she "would be sorry to see us fall into the feminist rhetorical trap." The main problems confronting Branching Out are money and distribution, she said. The first edition of JOSEPH HAIR STYLES 'AUTOMATIC PERM' Regular 23.95 SPECIAL 17 Joseph Hair Stytes has announced the arrival of a precision perming system, a new method that fea- tures pre-programmed permanent wave results. Called UniPerm, it replaces guesswork perming with an automatic curling process. During pre-introductory testing, hairdressers noted that they could "concen- trate more on creative cutting and styling, now that the technical aspects are completely At the same time, the system provides an auto- matic conditioning treatment. In addition to in- corporating formulas that are far milder than the currently-used cold waves, actually puts extra conditioners into the hair. JOSEPH HAIR STYLES North Herald- Family copies, financed by ads, donations and a loan, resulted in a deficit of 1500 to Applications for government grants have been turned down and literary to the magazine, as weil as the time of its staff, have been voluntary. Sixty-five subscriptions at for 12 issues have been sold. Individual issues cost The first goal is to break even on production costs, said editor McMaster. "We're not too far from chiefly because staff members do their own typesetting and layout Another goal is to establish minimum salaries for two or three people to work full-time on the magazine. Eventually it hopes to develop a circulation of about Distribution is handled through retail bookstores in Edmonton, Calgary, Ottawa and Vancouver, because distribution agencies are too expensive, said editor McMaster. Although men are prohibited from contributing directly to Branching Out or participating in decision- making, they often drive staff members to meetings or babysit Business manger Beaton expressed it succinctly: "They do the joe jobs." Library given money The six chapters of Beta Sigma Phi have donated to the Lethorioge Public Library to be used in the purchase of books or for other library needs. The funds were raised through the animal fashion show. The sorority also supports an on-going scholarship to Kate Andrews High School in Coaldale. Condiment, For a dressing for lettuce and tomato salad, mix together mayonnaise, chili savce and sweet pickle Calendars The Hi Neighbor Club will hold a dance from to p.m. Thursday in Westminster School, 5th Avenue and 18th Street N. D.D.J.'s Orchestra will be in attendance. Everyone welcome. St. Patrick's Church and the Irish-Canadian Society of Lethbridge will sponsor a concert on St. Patrick's Day at 8 p.m. in the Yates Memorial Centre. Tickets are on sale at Leister's and the rectory of St. Patrick's Church. The Galbraith home and school annual bake sale will be held from p.m. Wednesday at the school. Alpha Theta Rho Girls Club will hold a smorgasbord supper at 6 p.m. Thursday in the Oddfellows Hall. Everyone welcome. the Ladies Auxiliary of the Original Pensioners and Senior Citizens Organization will meet at 2 p.m. Friday at the civic centre. Following the meeting bingo will be played and lunch served. A good attendance is requested. First United UCW executive will meet at p.m. Thursday. There's got to be a way Helen Nobles, an employee at Gasow Veterinary Hospital, struggles to boost Lord Wellington, a 90- pound sheepdog, onto a table for grooming. Lord Wellington's touch-up was done for the Detroit Kennel Club's 56th annual show. A well-placed shove got the one-year-old dog seated on the table. Course offered to help people understand death TORONTO (CP) Death isn't the way most people imagine it, says a Guelph psychologist who has spent the last two years researching the subject. Prof. Richard Lonetto of University of Guelph says most people picture death "they way they see it in the movies." "The truth is you are taken to hospital, stuck with tubes, drugged and helpless." It might not be a bad idea, he says, for society to supply a fantasy service for the dying: "If you always wanted to die in a gun fight, why In the meantime, he will offer the first credit course at a Canadian university, beginning this fall, to help people understand death and dying. The material he will take into the Guelph university classroom was gathered during two years of working with bereaved Toronto families and studying relationships of terminal patients with their doctors and families. "What we want to do is replace the guilt, anger and fear that accompany the death process with understanding, if not calm." "People want to talk out their fears and feelings on the subject but don't feel there is anyone to turn to." Society is not sensitive to this need yet, he says but predicts that one day there will be tax-supported death orientation centres in every community. People who have suffered a loss or are wrestling with their own attitude toward death will be able to consult trained personnel, read material and talk with others in the same predicament. Before someone can be comfortable with the idea of aeatn, he must first lose the notion of his own to be confused with self-esteem, says Prof. Lonetto. "Many people have difficulty imagining a world without their presence. They can't think of not existing." How can a person put death in perspective if he can only think of it as a calamity, rather than a natural aspect of life? Prof. Lonetto says he wants particularly to interest doctors and nurses in the course which, in addition to classroom work, might also involve visits to homes for the aged, terminal wards, mortuaries and embalming rooms. Council conference scheduled The annual conference of the Tri-University Alumni Council will be held at the University of Lethbridge March 16. Conference sessions will be held in the U of L board room from 9 to 11 a.m. and from 2 to 4 p.m. The main items of discussion will include university financing, alumni organization and membership. original lot tw fluent Sears PLAYTEX replaces jour imst [DEE iincunfnrtatafe bra MILL J any or Cross Your bra or I Can't Believe It's a girdle. (see package coupon for details) ________your most uncomfortable bra and proofs of purchase to Playtex (sorry PSaytex brands not eligible) another bra from PSaytex With the purchase of a Playtex Living Bra or Cross Your Heart Bra, you are eligible to receive another bra of the same style and size. With the ourchase of a Piaytex I Believe it's A Girdle girdle, you are eligible to receive a Playtex Living or Cross Your Heart bandeau bra m your choice of size. OFFER LIMITED TO ONE FREE 6RA PER CUSTOMER OFFER EXPIRES APRIL 6. i974 FOR DETAILS SEE PACKAGE COUPONS AT Simpsons-Sears Ltd. a! 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