will present “The Birds and Beasts of Tanzania” at 8 p.m. at the Alley Pond Environmental Center, 228- 06 Northern Blvd., Douglaston. CUB SCOUTS PACK 383 meets from 7 to 8 p.m. at St. Pancras Cafeteria, Myrtle Ave., and 68th St., Glendale. For information call 1-718-938-2073. 104TH PRECINCT EXPLORERS will meet today and every Wednesday at 4:30 p.m. at the 104th Precinct stationhouse, Catalpa Ave. off Fresh Pond Rd., Ridgewood. The program, a division of the Boy Scouts of America, is open to boys and girls ages 13 to 17 to enjoy various activities and learn about police procedures. For information, call 1- 718-386-2486 from 10 a.m. to 6 p.m.N AR-ANON, self-help support group for anyone affected by a loved one’s use/abuse of drugs will meet at 7:30 p.m. in the basement of Church in the Gardens, 50 Ascan Ave., at Greenway North, Forest Hills. For information, call 1-800- 984-0066. RIDGEWOOD OLDER ADULT CENTER, 59-14 70th Ave., welcomes new members 60 years of age or older. Weekdays between 9 a.m. and 4:30 p.m. Meals daily. For more information, call 1-718- 456-2000. REGO PARK SENIOR CENTER, 93-29 Queens Blvd., will hold line and ballroom dancing from 1:15 to 2:30 p.m., plus various programs. For more information, call 1-718-896-8751. RIDGEWOOD-BUSHWICK SENIOR CENTER, 319 Stanhope St., will hold various programs. For more information, call 1-718-366- 3038. PETER CARDELLA SENIOR CENTER, 68-52 Fresh Pond Rd., Ridgewood, will hold various programs. For more information, call 1-718-497-2908. MIDDLE VILLAGE Adult Center, 69-10 75th St., will hold aerobics to music at 9:15 a.m. Computer training, beginners, intermediate and advanced levels from 1 to 5 p.m. For more information, call 1- 718-894-3441. THE WOODSIDE CLINIC, 61- 20 Woodside Ave., provides support groups, human services, day activity program, food pantry, meals-on-wheels and senior assistance program. For more information, call 1-718-779-1234. SELF-HELP MASPETH Senior Center, 69-61 Grand Ave., will hold exercise, dancing, choral group and bingo. Hot lunch at noon. Transportation available. For more information, call 1-718-429-3636. FOREST HILLS SENIOR CENTER, 108-25 62nd Dr., will hold various programs, plus hot lunch. For more information, call 1- 718-699-1010. THURSDAY, OCTOBER 16 UNITED FORTIES CIVIC ASSOC. will meet at 7 p.m. at St Teresa’s Parish Center, 50th Ave and 45th St., Woodside. REDEEMER LUTHERAN CHURCH, 69-07 Cooper Ave., Glendale will hold a Rummage Sale today from 10 a.m. to 4 p.m., tomorrow from 10 a.m. to 6 p.m. and Saturday from 10 a.m. to 3 p.m. STATE SEN. JOSEPH ADDABBO Mobile Office will be held at the Maspeth Library, 69-70 Grand Ave., Maspeth from 5:30 to 7 p.m. GLENDALE KIWANIS will meet at Zum Stammtisch restaurant, Myrtle Ave. and 70th St., at 12:30 p.m.M ASPETH KIWANIS will meet at O’Neill’s Restaurant, 64-21 53rd Dr., Maspeth at 12:15 p.m. RIDGEWOOD OLDER ADULT CENTER, 59-14 70th Ave., welcomes new members 60 years of age or older. Weekdays between 9 a.m. and 4:30 p.m. Many programs and meals daily. For more information, call 1-718-456- 2000. REGO PARK SENIOR CENTER, 93-29 Queens Blvd., will hold various programs. For more information, call 1-718-896-8751. RIDGEWOOD-BUSHWICK SENIOR CENTER, 319 Stanhope St., will hold various programs. For more information, call 1-718-366- 3038. PETER CARDELLA SENIOR CENTER, 68-52 Fresh Pond Rd., Ridgewood, will hold various programs. For more information, call 1-718-497-2908. SUNNYSIDE SENIOR CENTER, 43-31 39th St., will hold various programs. For more information, call 1-718-392-6944. SELF-HELP MASPETH Senior Center, 69-61 Grand Ave., will hold beading, jewelry and bingo. Hot lunch at noon. Transportation available. For more information, call 1-718-429-3636. MIDDLE VILLAGE Adult Center, 69-10 75th St., will hold arts and crafts at 10 a.m., sit and be fit at 1 p.m., Tai-Chi-Chuan at 10:15 a.m. For more information, call 1-718- 894-3441. THE WOODSIDE CLINIC, 61- 20 Woodside Ave., provides support groups, human services, day activity program, food pantry, meals-on-wheels and senior assistance program. For more information, call 1-718-779-1234. SUNNYSIDE COMMUNITY SERVICES, 43-31 39th St., will hold various programs. For more information, call 1-718-784-6173, ext. 112. FOREST HILLS SENIOR CENTER, 108-25 62nd Dr., will hold various programs, plus hot lunch. For more information, call 1- 718-699-1010. FRIDAY, OCTOBER 17 BOY SCOUT TROOP 28 meets every Friday at 7 p.m. at St. John’s Lutheran Church, 86-20 114th St. in Richmond Hill. All boys age 10-1/2 to 17 are welcome. For more information, call 1-718-478-5747. GIRL SCOUTS K to 3rd grade meet from 5 to 6 p.m. Grades 4 and up meet from 7 to 8:15 p.m. Andrews United Methodist Church, 91 Richmond St., between Etna St. and Ridgewood Ave., Cypress Hills. BOY SCOUTS Troop and Pack 233 meet at 7 p.m. at St. Brigid Catholic Academy, 438 Grove St., near St. Nicholas Ave., Brooklyn. All boys in grades 1 and up are welcome. For information call 1- 718-827-7377. GIRL SCOUTS meet at 7 p.m. at St. Brigid Catholic Academy, 438 Grove St., near St. Nicholas Ave., Brooklyn. RIDGEWOOD OLDER ADULT CENTER, 59-14 70th Ave., welcomes new members 60 years of age or older. Weekdays between 9 a.m. and 4:30 p.m. Meals daily. For more information, call 1-718- 456-2000. REGO PARK SENIOR CENTER, 93-29 Queens Blvd., will hold various programs. For more information, call 1-718-896-8751. RIDGEWOOD-BUSHWICK SENIOR CENTER, 319 Stanhope St., will hold various programs. For more information, call 1-718-366- 3038. PETER CARDELLA SENIOR CENTER, 68-52 Fresh Pond Rd., Ridgewood, will hold various programs. For more information, call 1-718-497-2908. MIDDLE VILLAGE Adult Center, 69-10 75th St., will hold aerobics to music at 9 a.m., watercolor painting at 9 a.m. For more information, call 1-718-894-3441. THE WOODSIDE CLINIC, 61- 20 Woodside Ave., provides support groups, human services, day activity program, food pantry, meals-on-wheels and senior assistance program. For more information, call 1-718-779-1234. FOREST HILLS SENIOR CENTER, 108-25 62nd Dr., will hold various programs, plus hot lunch. For more information, call 1- 718-699-1010. MASPETH SELF-HELP SENIOR CENTER, 69-61 Grand Ave., Maspeth will hold exercise and bingo. Hot lunch at noon. Transportation available. Call 1- 718-429-3636 for information. CALENDAR -CONTINUED FROM PG. 55- TIMES, THURSDAY, OCTOBER 9, 2014 • 56 Preparing For The Golden Years In Ridgewood -CONTINUED FROM PG. 19- also considered very beneficial under the savings umbrella. For Terry, however, spending is the most important part of planning for retirement. According to Terry, monthly and yearly spending is key because it will determine how long the money earned from both income and investments will last. Terry also considers spending important because it is the most controllable factor in financial planning. When carving out a budget and retirement plan, Terry stressed the importance of considering inflation and taxes. Money in savings plans such as IRAs and 401(k)s are subject to tax, as well as up to 10 percent in penalty fees if funds are withdrawn early. Terry explained that retirees often end up having to take out more money from these accounts than initially expected in order to cover tax costs. “Inflation and taxes can eat into your nest egg,” he cautioned. When planning for retirement, retirees must consider the cost of inflation when determining their future living expenses and financial needs. Terry advised against investing money in the average savings bank or CD account as a retirement plan. According to Terry, banks and CDs do not pay much in interest and do not keep up with inflation rates, currently at a 3 percent average or 4.5 percent historically. Instead, Terry advocated a 60/40 approach to investing over a 10-year period, with 60 percent of investments in equities or stocks, and 40 percent in bonds. He urged prospective retirees to take reasonable risks and enter the stock market. “Markets don’t go in straight lines,” Terry explained, “They go in waves.” With smart, advanced planning, investors can compensate for changes or downturns in the market. Terry cited the economic collapse of 2008 as one example. Terry favors breaking up investments into one year’s worth of cash to compensate for unexpected needs, with additional funds going toward two-year, short-term bonds. The remainder should be invested in stocks and bonds. By reallocating investments and diversifying portfolios, retirees can afford to wait out potential market downturns with minimal risk or impact. As part of an investment plan, Terry favored Roth IRAs, which are not taxed when money is withdrawn. Terry also urged those still working to take advantage of company retirement plans like 401(k)s, especially if the employer or company will match investments. Planning for the worst Another important aspect of retirement is estate planning. Former RPOCA President Paul Kerzner, an attorney, stressed the need for certain important legal documents, specifically a health care proxy and living will. According to Kerzner, a health care proxy is the only way in which a family member can intervene should you become incapacitated or unconscious. He urged residents to select a representative capable of carrying out their wishes, and suggested having an in-depth discussion with a potential proxy prior to appointing him or her. In addition to the proxy, Kerzner urged residents to create a living will, which expresses in writing one's desire not to be resuscitated or kept alive by artificial means. Kerzner advised residents to get at least four originals of the document and give one set to their doctor, one to their proxy, and the other two to keep on their person. In the event of a trip to the hospital, Kerzner urged residents to give the hospital a copy along with any insurance information upon admittance. Kerzner also cited the importance of having a standard will, especially for young parents as a means of designating who would obtain custody of their children in the event of accidental death or untimely demise. With regard to property distribution, Kerzner spoke of “will substitutes” such as deeds, titles, bank accounts and life insurance policies. In many cases, these documents can supersede the power of a will. Kerzner advised residents to know who their beneficiaries are, as the names on each individual document, not the will itself, determine who receives which assets. He also urged couples to appoint contingent beneficiaries on these documents in the event of dual or “simultaneous” deaths. Kerzner cautioned against irrevocable trusts, which he called a “straitjacket approach” to investing as they provide for zero flexibility. He also advised against appointing a power of attorney. “People can become intoxicated with power and can cause problems within the family,” warned Kerzner. “It is a toxic document.” Lawmaker on economics In keeping with the theme of savings and finances, State Sen. Joseph Addabbo was also on hand to speak about the local economy and job creation. “As elected officials, it is our obligation to help people find work,” Addabbo explained. Part of this plan includes an upcoming hiring event slated for Thursday, Oct. 16, at the Greater Ridgewood Youth Council located at 59-03 Summerfield St. The event will be held from 10 a.m. to 2 p.m. Addabbo invited residents to attend and bring their resumes. He also urged voters to vote ‘yes’ on three ballot referendums in the upcoming Nov. 4th election, including questions on independent redistricting, electronic bill filing (which would allow for electronic versions of bills rather than requiring paper copies) and the Smart School Bond Act, which authorizes $2 billion in state bonds to fund technology upgrades in schools. The next Ridgewood Property Owners and Civic Association meeting is scheduled to take place on Thursday night, Nov. 6, at 7 p.m. at the Ridgewood Older Adult Center, located at 59-14 70th Ave.
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