Fri01302015

News

Foothill to offer four-year degree: Foothill aims to launch dental hygiene degree in fall 2016

Foothill to offer four-year degree: Foothill aims to launch dental hygiene degree in fall 2016


Ellie Van Houtte/Town Crier
Students enrolled in Foothill College’s two-year dental hygiene program, above, can soon earn a four-year bachelor’s degree for approximately $10,000.

Foothill-De Anza Community College District Chancellor Linda M. Th...

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Schools

Freestyle hosts exhibition at Computer Science Museum

Freestyle hosts exhibition at Computer Science Museum


Traci Newell/Town Crier
Mountain View High junior and Freestyle Academy student Radika Gupta, right, works with a fellow student during a WebAudio course this month.

For three periods a day, a small subset of students from Los Altos and Mountain Vi...

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Community

Museum explores Stanford, Valley connection

Museum explores Stanford, Valley connection


Courtesy of Julie Rose
The Los Altos History Museum’s “Symbiotic Superstars” event drew a crowd including, from left, “The Lure & the Legends” creator Nan Geschke, Stanford President John L. Hennessy, historian Leslie Berlin and Adobe Systems c...

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Comment

Good compromise on PE exemptions: Editorial

While “Deflategate” captures the national sports headlines, the local issue of physical education class exemptions for freshmen seems a much worthier sports topic for discussion.

The Mountain View Los Altos Union High School District Board of Truste...

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Special Sections

Your Home Brief

Filoli hosts bird exhibition

Filoli kicks off the 2015 season of art exhibitions in its Visitor and Education Center with “The Birds of America: Audubon Collection,” a selection of prints from Filoli’s Permanent Collection, Feb. 10...

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Business

Wine & beer lounge coming to First Street

Wine & beer lounge coming to First Street


Ellie Van Houtte/Town Crier
The new wine and beer lounge Honcho heads to First Street, with a spring opening anticipated.

A cocktail lounge proposed for First Street has cleared its first hurdle – the Los Altos Planning and Transportation Comm...

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Books

"Fearless Genius" photos chart Silicon Valleys brain trust


Not every book needs pages and pages of words to tell a story – some do it through pictures.

“Fearless Genius: The Digital Revolution in Silicon Valley, 1985-2000” (Atria Books, 2014) by Doug Menuez features more than 100 photographs Menuez to...

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People

RUBY DOSHIM LAI

Ruby Doshim Lai was born on July 26, 1929 and passed away at home on January 10, 2015. A resident of Los Altos for over 50 years, Ruby is survived by her husband Bill; children Gwen, Tracy and Allyn; and grandchildren Kiyoshi and Misa.

Born on Mott ...

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Travel

Cuban photographer slated to appear at Foothill

Cuban photographer slated to appear at Foothill


Courtesy of Raúl Cañibano
Cuban photographer Raúl Cañibano is set to appear at Foothill College tonight. His work – including the image “Series: Guajira’s Land, Viñales, 2007,” right – is on display at the KCI Gallery t...

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Stepping Out

'Betrayal' at Pear

'Betrayal' at Pear


Ray Renati/Special to the Town Crier
The cast of Pear Avenue Theatre’s “Betrayal” includes Maryssa Wanlass, from left, Fred Pitts and William J. Brown III.

The Pear Avenue Theatre presents Harold Pinter’s investigation of modern relationships, “...

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Magazine

Tracing history on foot: Hidden Villa’s long hike

Tracing history on foot: Hidden Villa’s long hike


Campers on Hidden Villa’s Sierra Backpacking Trip study historical photos to measure how the land has changed and alternate serving as student leaders who guide the route of their three-week trek.

Amid the high-tech camps and programs of a Bay Area ...

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Small-business owners ignoring retirement

I wrote an article earlier this year about how much we need to be saving for retirement. It turns out that small-business owners are among those most at risk. A recent AP report posted by MarketWatch shared the stories of a number of business owners who simply ignored their own futures and focused almost entirely on developing their businesses. Many viewed their companies as their nest eggs, planning to sell them to fund their retirement. Is this a wise strategy?

Kari Warburg Block didn’t even think about saving for retirement until she was unable to get a loan for her fourth business. The banker wanted to examine her personal finances, believing that people who handle their savings and investments well would also do a good job running companies and be good credit risks. Block had never taken money for her retirement out of the companies she had previously owned. As a result, the banker denied the loan. Block found herself not only without any retirement savings, but also with future prospects constrained.

She’s not alone. Of the small-business owners surveyed by American Express, 73 percent said they’re worried about their ability to save for the lifestyle they want to maintain in retirement. A study by the Small Business Administration found that only approximately one-third of owners had contributed to their individual retirement accounts in 2006, and only 18 percent had a 401(k).

How much can you lose?

I have personally known many Silicon Valley entrepreneurs over the years. What sets apart the successful ones from the unsuccessful ones is not, as one might surmise, having a great idea or being especially talented or even being in the right place at the right time. The key success factor is knowing how much they can afford to lose before making the decision to invest in a new business.

That may sound trivial, but it assuredly is not. I’ve found that entrepreneurs who were able to identify and stick to their limits were the ones who, more often than not, successfully rode out the downturns. Rather than raiding their retirement savings to prop up their businesses, they would liquidate the businesses, learn from the failures and start working on the next one, all the while supporting themselves using their savings. Their finances weren’t tied up in a single entity.

Small-business owners are naturally sanguine about the prospects for their businesses.

Michael Maher, co-owner of a clothing retailer in San Francisco, is using his own savings to start and build the company.

“We’re plowing all our money back into the company for the most part and taking a nominal salary,” he said.

And Maher believes that a company he runs is a better investment than the stock market.

“I am investing money in a business that I think is viable and that I control instead of investing in something that I don’t control,” he said.

But there are many factors beyond a business owner’s control. Take 2008. The plunge in lending to small businesses, together with the slowdown in both business and consumer spending, forced many owners to liquidate personal assets like bank accounts, stocks and mutual funds to keep their companies afloat. When you concentrate most of your assets in a single investment such as your business, you can easily be left with nothing should it collapse.

How can you determine how much you can afford to lose in a startup business? That part’s easy. It’s all about planning for your future.

For more information, see the column I wrote on this topic several months back (“Are we saving enough for retirement?” March 27).

Los Altos resident Artie Green is a Certified Financial Planner with Cognizant Wealth Advisors. For more information, call 209-4062.

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