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Fish Fry Fridays celebrate Lenten season

Another busy weekend is ahead, in spite of the weather. Saturday night is the annual Magruder Hospital Charity Ball at Catawba Island Club. It is always a grand affair. Mike Schenk at CIC told me that they are trying something different this year. The Charity Ball will be a “Strolling Supper” with five food stations and lots of open seating. However, if you wish to reserve a table, call CIC TODAY to do so. They will be serving carved meat, mashed potatoes, perch and salmon along with a salad bar and dessert bar. Enjoy the Ball. We will have photos as usual next week.

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Take advantage of higher IRA contribution limits

 

 

For the first time since 2008, contribution limits have risen for one of the most popular retirement savings vehicles available: the IRA. This means you’ve got a greater opportunity to put more money away for your “golden years.”

Effective Jan. 1, you can now put in up to $5,500 (up from $5,000 in 2012) to a traditional or Roth IRA when you make your 2013 contribution. And if you’re 50 or older, you can put in an additional $1,000 above the new contribution limit.

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PC Chamber celebrates Beacon’s 30th year

My personal thanks to all who turned out, or wanted to, for last Thursday’s PC Chamber Business After Hours at the 1812 Restaurant in the Island House. According to Laura Schlachter at the Chamber, they counted 110 business cards turned in for registration, but the estimate of the number attending was well over that. The event was our official observance of the 30th Anniversary of The Beacon. As I said in my little speech that night, “every face is a memory”. We won’t officially observe our 30th until next week.

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Investing is a marathon, not a sprint

If you look at investing in terms of an athletic event, it’s more of a marathon than a sprint. So as an investor, you can learn a few things from marathoners.

First, be prepared. Marathoners train for months, and sometimes years. As an investor, you can prepare by learning about different asset classes and risk factors.

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Bundle up, ice fishing season may be here

Well it was inevitable…last week’s 60-degree temperatures were just not going to stick around. It is January along the shores of Lake Erie. Actually, there are some significant silver linings to these cold temperatures. First, the lake is freezing over and frozen water (ice) doesn’t evaporate. One of the primary causes of lower lake levels that cropped up late last summer was the evaporation factor from the mild winter of 2012. The other positive factor is that the extended cold weather just might freeze Lake Erie enough to allow for some ice fishing.

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Origins of Bessie may have been discovered

Perhaps the beginnings of the legend of South Bass Bessie have been discovered! Don Poppe of Port Clinton found this fossil on a rock in the north parking lot at Waterworks Park and snapped it with his camera. It is the 5th rock from the east in the north parking lot, in case you want to explore the site yourself.

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Help your children avoid student debt burden

It’s not so easy being a college kid these days. The job market for recent graduates has been shaky while, at the same time, students are leaving school with more debt than ever before. If you have children who will someday be attending college, should you be worried?

You might indeed have cause for concern. Americans now owe more on student loans than on credit cards, according to the Federal Bank of New York, the U.S. Department of Education and other sources. For the college class of 2011, the most recent year for which figures are available, the average student loan debt was about $26,500, according to the Institute for College Access and Success’s Project on Student Debt. 

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