Thu12252014

News

Merry spirits: Traditional holiday drinks and memories that surround them

Merry spirits: Traditional holiday drinks and memories that surround them


Christine Moore/Special to the Town Crier
Town Crier columnist Christine Moore’s holiday drink menu includes her take on the Moscow Mule, the Bucking Reindeer.

Growing up, our dogs were always outside dogs. We lived in the country, which made...

Read more:

Loading...

Schools

Santa Rita visits The Terraces

Santa Rita visits The Terraces


Susie Greenwald’s third-grade class at Santa Rita School has a special relationship with The Terraces at Los Altos, a senior retirement community. The class visits the center once a month to share quality time with the residents, above. The s...

Read more:

Loading...

Community

Veterinarians offer advice for keeping pets safe over holidays

Veterinarians offer advice for keeping pets safe over holidays


Traci Newell/Town Crier
The holidays present a number of hazards for pets. Be sure to secure electrical cords to keep playful cats at bay.

During the holidays – when people tend to focus more on family and food – pets are often overlooked. But...

Read more:

Loading...

Sports

Owls getting a lot out of a little

Owls getting a lot out of a little


In a typical season for the Foothill College women’s basketball team, coach Jody Craig wouldn’t be satisfied with a 7-4 start and No. 8 ranking in Northern California.

But this isn’t a typical season. Craig had just a few weeks ...

Read more:

Loading...

Comment

Holiday cheer: No Shoes, Please

Admittedly, the holidays are not my favorite time of year. I don’t like sharing streets and parking lots with a zillion other people who need to get their shopping done. I don’t like being reminded by a holiday doomsday countdown clock h...

Read more:

Loading...

Special Sections

Looking Ahead

Looking Ahead


s in line to be mayor of Mountain View in 2015.

Mountain View anticipates the following changes in 2015:

• Beginning Jan. 1, Mountain View City Councilmembers will receive a raise to $1,000 per month as a result of the passage of Measure A in...

Read more:

Loading...

Business

Pharmacy headed to 400 Main St.

Pharmacy headed to 400 Main St.


Ellie Van houtte/Town Crier
Pharmaca Integrative Pharmacy is scheduled to open a new store in the Jeffrey A. Morris Group’s 400 Main St. project. The new location will open in late February.

A new tenant is slated to call the recently complet...

Read more:

Loading...

Books

Gawande's

Gawande's "Being Mortal" proves an important book on aging


Books about death and dying are usually not on my list of “must reads.”

I couldn’t resist, however, the best-selling “Being Mortal: Medicine and What Matters in the End” (Metropolitan Books, 2014) by Atul Gawande.

Read more:

Loading...

People

MERLYN "DALE" STUBBS

Merlyn "Dale" Stubbs, a 51 year resident of Los Altos Hills, passed away on December 15, 2014.

Dale was born to Harry and Anna Stubbs in Americus, Kansas on February 10, 1926.

When Dale was 9 years old his father, a carpenter, suffered a fatal hear...

Read more:

Loading...

Travel

South Tahoe renovations enhance off-mountain seasonal fun

As any enthusiast knows well, there is more to the enjoyment of winter sports than skiing or snowboarding.

While many winter resorts make minor upgrades each season, the off-mountain attractions and amenities can be as enticing as the activities on ...

Read more:

Loading...

Stepping Out

'Starcatcher' runs until Jan. 3 in PA

'Starcatcher' runs until Jan. 3 in PA


Kevin Berne/Special to the Town Crier
Adrienne Walters stars as Molly and Tim Homsley portrays Peter in the TheatreWorks production of “Peter and the Starcatcher,” playing through Jan. 3 at Palo Alto’s Lucie Stern Theatre.

TheatreWorks’ producti...

Read more:

Loading...

Spiritual Life

The good news: Christmas means the long wait is over

Ah, Christmas! The stockings are hung by the chimney with care, the presents are set to be given and received, and preparations are underway to be with family.

Read more:

Loading...

Magazine

Christmas At Our House home tour celebrates 26 years

Christmas At Our House home tour celebrates 26 years


Courtesy of Christopher Stark
Homes on the St. Francis High School Women’s Club’s Christmas at Our House Holiday Home Tour showcase a variety of architectural styles.

The days grow short on sunshine but long on nostalgia as the holidays approach...

Read more:

Loading...

Congressional Budget Office paper says don’t buy annuities

A working paper recently published by Felix Reichling of the Congressional Budget Office and Kent Smetters of the University of Pennsylvania’s Wharton School concludes that most people should not buy annuities. This is a controversial finding bound to spark significant debate within the financial services community.

The annuity model is simple: You give up a portion of your savings to an insurance company in exchange for a guaranteed stream of payments for the remainder of your life. Gil Weinreich, editor-in-chief of ThinkAdvisor, an online and print publication family for financial advisers, interviewed Smetters to find out why he believes that’s not a good idea. He quoted Smetters as stating, “The average American should probably not annuitize any of their wealth.”

Smetters explained that it is in fact uninsured health-care shocks – the most common being disability while working or the need for long-term care while retired – that impact the usefulness of annuities more than anything else.

Here’s the logic: Suppose that you are retired and develop a medical condition requiring long-term care, for which you are not insured. If you had previously purchased an annuity, it would not be much help, because you now have the need for a lot more income than the annuity had been designed to produce. You could sell your annuity – there is a secondary market for this – but because of your medical condition, your expected longevity is reduced. As a result, the amount of cash you can get for the annuity will be lower, because its value is based on the expectation of its future cash flows. That’s just the opposite of what you need during such a situation.

Smetters went so far as to recommend that younger people actually “short” annuities.

“You can get a negative annuity by buying life insurance,” he said. “It is well known … that whereas an annuity pays me for living, life insurance pays me for dying. What happens when I get sick is that my life insurance increases in value. You can cash that out and get protection against uninsured expenses.”

Is there anyone who would benefit from an annuity? According to Smetters, “those who should buy annuities have already incurred health costs or are quite elderly.” Insurance companies can afford to offer such people annuities with larger monthly or yearly payments because there’s a higher likelihood they’ll die sooner.

Most advisers think of annuities as low-risk investments. But as Smetters pointed out, they are actually higher risk because they fail at exactly the times you need them the most: during health-care crises. The better alternative, he said, is long-term care insurance for older people and disability insurance for younger people.

I believe that annuities – particularly single-premium immediate annuities – can be a valuable part of a well-diversified investment portfolio. But Smetters and Reichling suggest that they should be used sparingly until you reach an age where the payments become significant.

To read the CBO working paper, visit cbo.gov/sites/default/files/cbofiles/attachments/44374_MortalityProbabilities-Reichling_2_0.pdf.

Artie Green, a Los Altos resident, is a Certified Financial Planner and professional investment adviser. For more information, call (408) 747-1222.

Schools »

Schools
Read More

Sports »

sports
Read More

People »

people
Read More

Special Sections »

Special Sections
Read More

Photos of Los Altos

photoshelter
Browse and buy photos