Sat10252014

News

Election flyer mimics newspaper coverage

Election flyer mimics newspaper coverage

A flyer is being distributed across Los Altos that looks like it is from the Los Altos Town Crier but was neither created nor distributed by the community’s weekly newspaper. The flyer, pictured at right, is being distributed by workers from Pyrami...

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Schools

LAHS Science and Technology Week features medical examiner

LAHS Science and Technology Week features medical examiner


Ellie Van Houtte/Town Crier
A Los Altos High School student learns how to use robotic surgical equipment at the school’s Science and Technology Week event last year. Students can also attend hands-on presentations at this year’s event, w...

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Community

Ahoy, matey: Pirate Manor ramps up Halloween display

Ahoy, matey: Pirate Manor ramps up Halloween display


Town Crier File Photo
Pirate Manor is once again scheduled to arrive in the front yard of Dane and Jill Glasgow’s home on Manor Way in Los Altos, just in time for Halloween.

Although not the Walking Dead, pirate skeletons have been brought to li...

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Sports

Lancers rule the pool against Spartans

Lancers rule the pool against Spartans


Ellie Van Houtte/Town Crier
St. Francis High’s Eric Reitmeir launches the ball over Mountain View High driver David Niehaus (2) and goalie Kenny Tang. The host Lancers won Friday’s non-league game 9-3.

There wasn’t a lot on the line Friday when ...

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Comment

Reeder, Fung for El Camino HCD: Editorial

The good news for the El Camino Healthcare District (formerly the El Camino Hospital District, for those still getting used to the new name) is that there is a contested election Nov. 4 for the district’s board of directors. Three candidates are runn...

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Special Sections

Plant-based diet offers benefits

Plant-based diet offers benefits


Photo by Ramya Krishna
Los Altos resident Nandini Krishna prepares a meat-free dish According to author Caldwell B. Esselstyn Jr., M.D., a plant-based diet can help prevent cancer.

Shirley Okita of Los Altos has found that adhering to a mostly plant...

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Business

New shop offers haute couture for girls

New shop offers haute couture for girls


Ellie Van Houtte/Town Crier
The Girls @ Los Altos at 239 State St. offers clothing lines such as Nellystella as well as toys and other items for girls.

Cecilia Chen opened The Girls @ Los Altos as a tribute to the party dress. Whether it’s for...

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Books

Helping kids catch a few Zs: Local dental hygienist pens meditative bedtime book

Helping kids catch a few Zs: Local dental hygienist pens meditative bedtime book


Ellie Van Houtte/Town Crier
Mimi Sommers, who works at a Los Altos dentist’s office, recently wrote a children’s book.

A local dental hygienist recently published a book that aims to ease parents and children during a sometimes anxious e...

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People

BARBARA DARLING MERIDETH

1946-2014

Born in Palo Alto, raised in Los Altos, retired in southern Oregon. Survived by Peter James Merideth, sons Matthew, Jacob and John Merideth, the loves of her life.

She was a housewife who took great pride in her home, her surroundings and...

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Travel

Falling leaves: Four places in California to see autumn colors

Falling leaves: Four places in California to see autumn colors


Courtesy of Castello di Amorosa
Castello di Amorosa in Calistoga, above, boasts a beautiful setting for viewing fall’s colors – and sampling the vineyard’s wines.

Yes, Virginia, there is fall in California.

The colors pop out in...

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Stepping Out

'Sleepy Hollow' awakens at Bus Barn

'Sleepy Hollow' awakens at Bus Barn



Los Altos Youth Theatre’s production of “The Legend of Sleepy Hollow,” a musical based on Washington Irving’s classic story, is set to run through Nov. 2 at Bus Barn Theater. The cast comprises 27 young actors, directed by Cindy Powell. Courtesy o...

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Spiritual Life

Magazine

Local events add color to autumn calendar

Local events add color to autumn calendar


Van Houtte/town crier Visitors make their way through the Children’s Alley.

As Los Altos’ signature Chinese Pistache trees exchange their summer green for vibrant hues of yellow, orange and red in the fall, an abundance of local events also ad...

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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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