Sun07052015

News

Effective today, library cards free again in Los Altos

Both Los Altos libraries should see a spike in use soon. After the elimination of an $80 annual card fee that had been in place since 2011, nonresidents will receive free library cards at local libraries, effective today.

Residents of Mountain View ...

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Schools

Almond fifth-graders set sail at Shoreline

Almond fifth-graders set sail at Shoreline


Courtesy of Corinne Finegan Machatzke
Fifth- graders at Almond School launched the boats they designed and built at Shoreline Lake last month.

Almond School fifth-graders boarded their handmade boats at Shoreline Lake in Mountain View last month to...

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Community

Taking it back to 'The Streets': Local filmmaker aims to revive 1970s series 'Streets of San Francisco'

Taking it back to 'The Streets': Local filmmaker aims to revive 1970s series 'Streets of San Francisco'


Courtesy of Charles Alley
Charles Alley’s filmmaking company may be based in Mountain View, but he knows all about “The Streets of San Francisco.” He’s rebooting the 1970s TV classic.

When people look for the next hit TV show, they often assume ...

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Sports

Enjoying the moment


Courtesy of Dick D’OlivA
Former Golden State Warriors trainer Dick D’Oliva, from left, wife Vi, former Warriors assistant coach Joe Roberts and wife Celia ride on a cable car in the victory parade.

Dick D’Oliva almost couldn’...

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Comment

The death knell of suburbia: A Piece of My Mind

The orchards are gone. The single-story ranch house is seen as a waste of valuable land and air space. An eight-lane freeway thunders past the bridle paths in Los Altos Hills. But nothing has signaled the death of suburbia more strongly than the ann...

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Special Sections

While competent & safe, MKC still can't catch European competitors

While competent & safe, MKC still can't catch European competitors


courtesy of Ford
The 2015 Lincoln MKC doesn’t overwhelm as far as overall performance goes, but it does offer comfortable ride quality.

Of all the auto companies with headquarters in the United States, only Ford managed to weather the great re...

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Business

Company installs EV charging stations at LAHS

Company installs EV charging stations at LAHS


Courtesy of Green Charge
Officials from Los Altos, Los Altos Hills and the Mountain View Los Altos Union High School District celebrate the installation of electric-vehicle charging stations at Los Altos High last week.

The Mountain View Los Alto...

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Books

People

HILDA CLAIRE FENTON

Hilda Claire Fenton, beloved wife and mom to 9, grandmother to 30 and great grandmother to 22, passed away June 20 following a long illness. She was 90.

Hilda was born Sept. 28, 1924, to Lois and Gus Farley then of Logan, W. Va. While she was still ...

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Travel

Venetian spa offers ways to de-stress

Venetian spa offers ways to de-stress


Courtesy of The VEnetian
The HydroSpa in the Canyon Ranch SpaClub at The Venetian in Las Vegas offers a muscle-relaxing bath and radiant lounge chairs.

Vegas cab drivers usually ask if you won or lost as soon as you get in their vehicles. They assum...

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Stepping Out

Cast carries 'Arcadia'

Cast carries 'Arcadia'


Courtesy of Pear Avenue Theatre
“Arcadia” stars Monica Ammerman and Robert Sean Campbell.

The intimate setting of Mountain View’s Pear Avenue Theatre proves the perfect place to stage “Arcadia,” allowing audience members to feel as though they a...

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Spiritual Life

Magazine

Living it up Older adults aim to age in place

Living it up Older adults aim to age in place


Megan V. Winslow/Town Crier
Local enthusiasts flock to the Los Altos Senior Center to play bocce ball. The center hosts informal games four days a week and occasional tournaments.

As baby boomers in Los Altos, Los Altos Hills and Mountain View nose...

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Inside Mountain View

Carrying the torch

Carrying the torch


Members of the Mountain View Police Department carry the Special Olympics torch as they run along El Camino Real between Sunnyvale and Palo Alto June 18. Members of the department participate in the relay annually to show their support for Spec...

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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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