Wed07012015

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

JOHN R. DOBSON

JOHN R. DOBSON

May 1, 1922 -  June 16, 2015

Resident of Los Altos 59 years

John Raymond Dobson, also known as Dobbie to his flying buddies, passed away after a long illness surrounded by his family. He leaves behind his loving wife of 72 years, Janet Barni...

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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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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.

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