Tue06302015

News

LAH council approves  Page Mill Road expansion

LAH council approves Page Mill Road expansion


Megan V. Winslow/Town Crier
The Los Altos Hills City Council endorsed a plan to widen the congested Page Mill Road to six lanes between the Interstate 280 interchange and Foothill Expressway.

Infamously congested Page Mill Road should be widened to ...

Read more:

Loading...

Schools

Local muralist tells a story of young Los Altos at two schools

Local muralist tells a story of young Los Altos at two schools


Eliza Ridgeway/Town Crier
Los Altos muralist Morgan Bricca, above, created a work at Covington School commissioned by the Class of 2015.

Just as school ended this year, new color bloomed on two Los Altos campuses – public art projects commissi...

Read more:

Loading...

Community

Los Altos girl out to 'squash' inequality: 10-year-old raises funds for female players with motto Equal pay for play

Los Altos girl out to 'squash' inequality: 10-year-old raises funds for female players with motto Equal pay for play


Courtesy of Lisa Bardin
Mika Bardin displays a certificate of participation she received at the 2015 U.S. Junior Squash Championships. Although Mika is not competing in the upcoming NetSuite Open Squash Championships, she is helping other female pl...

Read more:

Loading...

Sports

Hurdling adversity

Hurdling adversity


courtesy of Nicole Goodwin
Ella Goodwin, hurdling, above, has come a long way since her early-childhood battle with leukemia.

While Nicole Goodwin is proud of daughter Ella’s athletic achievements, it’s not her skills on the soccer field...

Read more:

Loading...

Comment

No confidence in civic center proposals: Editorial

Few Los Altos issues have become more convoluted than the development of the 18-acre Hillview civic center property. Most agree that the area, as currently configured, needs improvement. But nothing has happened in the nearly 10 years since serious d...

Read more:

Loading...

Special Sections

Star-spangled manor: Orange Avenue home boasts Americana theme

Star-spangled manor: Orange Avenue home boasts Americana theme


Megan V. WInslow/Town Crier
Los Altos resident Pinky Whelan’s Orange Avenue home features a patriotic theme, evident in her living room decor, her historical collections and displays and her welcoming entrance.

Let’s hear it for the red...

Read more:

Loading...

Business

Thai Silks shutters Los Altos store this month

Thai Silks shutters Los Altos store this month


Megan V. Winslow/Town Crier
After more than 50 years in business in downtown Los Altos, Thai Silks is closing up shop at 252 State St. by the end of the month. The store will continue to offer its inventory online and via phone.

A longtime downtown ...

Read more:

Loading...

Books

People

ALAN FRAZIER KREMEN, MD, PHD

ALAN FRAZIER KREMEN, MD, PHD

Alan Frazier Kremen, MD, PhD, aged 68, loving father & surgeon, of Stockton peacefully passed away on June 13th, 2015.

Born in Minneapolis on December 17, 1946, he received a BA from Stanford University, 1968, a PhD in Philosophy from the Univ...

Read more:

Loading...

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...

Read more:

Loading...

Stepping Out

'Town' closes down

'Town' closes down


Chris Peoples/Special to the Town Crier
Hope Cladwell (played by Krista Joy Serpa) and Bobby Strong (Lewis Rawlinson) get romantic during their duet in “Urinetown: The Musical.”

The Los Altos Stage Company production of “Urinetown: The Musical” ...

Read more:

Loading...

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...

Read more:

Loading...

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...

Read more:

Loading...

The ramifications of burgeoning student debt

New college graduates these days face the same financial challenges that young workers have faced for the last several generations.

As they enter the workforce, there’s the cost of an apartment, perhaps a used car if public transportation is lacking and, of course, their personal preferences for entertainment. At some point during their evolution, they may begin to think about marriage, starting a family and possibly buying a home. And perhaps most important, at some point, they begin saving for retirement.

Unfortunately, a number of recent economic trends – slow wage growth and higher required down payments from homebuyers – are likely to delay some of the above milestones. But the biggest culprit that impacts young Americans’ ability to achieve these financial goals now is the growth in student loans.

According to The Institute for College Access & Success (ticas.org), a nonprofit policy research group in Oakland, two-thirds of the 2011 graduating class – the latest year for which data are available – carried student loan debts. For those with loans, the average amount of debt was $26,600. And that reflects only student debt at public and private nonprofit four-year colleges. Forbes Magazine reports that more than 90 percent of students earning two-year degrees at for-profit schools carry debt. The average debt at a public two-year institution, now the second-highest form of consumer debt behind mortgages, is $7,000.

Delaying retirement saving

I can see two possible long-term trends resulting from this situation. One is a decline in the number of Americans owning their own homes. Indeed, rental markets in those cities that have had the greatest job growth in the last several years are exploding. And while housing markets in those very same locations are also doing well, foreign and institutional investors are driving much of the latter growth, as are low interest rates.

Probably the most concerning trend is the potential for young workers to postpone saving for retirement. The $300 per month that they could be stashing away into an IRA must instead go to paying off college loans. And the consequences of delaying retirement savings can be dramatic.

If you begin saving $300 per month starting at age 35, earn 7 percent per year on your savings and retire at age 65, you will have amassed a total of $366,000. Contrast that with someone starting at age 25, who will net more than twice as much ($788,000). Imagine how much more comfortable the latter nest egg could make you.

What can a college student do? First, consider the return on investment (ROI) of the chosen university. PayScale.com, a website that reports pay scales for various types of jobs, reports on the ROI from more than 500 schools. They calculate the ROI by surveying alumni to estimate lifetime earnings, measuring the costs of getting a degree and comparing that to the earnings of noncollege graduates. Although the data are limited and fraught with assumptions, it’s the most rigorous approach I’ve seen for analyzing the college investment decision. For more information, visit payscale.com/college-education-value-2013.

Next, students should try to use federal loans before considering the riskier (and more expensive) private loans. There are a number of features of federal loans that make them beneficial, such as income-based payback caps and the opportunity to have the loan forgiven in 25 years (or 10 if you work in a public or nonprofit company). But they also have drawbacks: Federal loans cannot be dismissed through bankruptcy.

Keep in mind that retirement planning, just like debt management, is a necessary part of sound financial planning. Even if it’s difficult, every month you put it off will cost you.

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