Magazine

In a world of financial instability and declining pension programs, more people are taking a closer look at 401(k) plans and the future income they can generate for retirement.

“The 401(k) plan, in many instances, is the primary method of saving for retirement during your working years. This type of employer-sponsored retirement plan has become the most popular way to save for the future, as the offering of pension plans are significantly less prevalent in the industry,” says John Grech, a Middleburg Heights financial advisor with Edward Jones.

A great feature of a 401(k) plan is the possibility of an employer 401(k) match where an individual’s company adds money on behalf of the employee, typically up to a maximum predetermined percentage, based on the amount that employee contributes, he adds.

An individual has the flexibility in the amount of money he or she decides to contribute toward retirement.

Currently, employees can put away up to $18,000 per year in retirement savings. These funds are able to grow tax deferred until they are withdrawn from the retirement plan. And, if you’re 50 or older, you can contribute an additional $6,000, Grech says.

UNDERSTAND YOUR INVESTMENTS

Independent Mentor financial planner Ernest Brass warns there are good and not-so-good 401(k) plans.

“There are things about 401(k)s a lot of people don’t understand, which is why a good plan should give you someone to talk to and ask questions, rather than let you try to figure things out yourself,” Brass says.

If possible, Brass and Grech say conferences should preferably be face-to-face rather than by phone.

“If you are not familiar with investing, having someone to talk to can add a lot of value,” Grech says.

“There are various factors involved with a 401(k) plan that you should be aware of as you are saving for retirement.”

Today, more and more grandchildren are being raised by grandparents for a variety of reasons. Death, illness, or drug abuse could all require changes in living circumstances.

But what rights do you, the grandparent, have with regard to raising your grandchild? Schools and medical providers want proof that you have the right to make decisions and speak for the grandchild’s interests. There are a number of ways to obtain such rights.

UNDERSTAND YOUR OPTIONS

Ohio law was changed in July 2014 to enact the “Grandparents Caretaker Law” which provides two methods by which non-custodial grandparents can obtain caretaker rights relatively simply.

First, if you are noncustodial but need rights as to schooling or medical care, the parent can sign a caretaker power of attorney to grant the grandparent with whom the grandchild is residing. This document helps the grandparent have the ability to make decisions for care and school matters. Examples are medical, psychological or dental treatment for the child, school enrollment and school educational and behavioral information.

A parent can only grant this authority under certain hardship circumstances like serious illness, homelessness or the death of one parent, and only if it is in the best interest of the child. This power of attorney does not convey legal custody. The form must be witnessed and notarized and filed with the local county juvenile court.

Second, if the parents cannot be found after a good faith effort was made to find them, state law allows the non-custodial grandparent to sign a caretaker authorization affidavit stating that the parent is not available and the grandparent is granted the same rights as listed above. The form must be signed, notarized and filed with the local county juvenile court within five days.

Either of these two documents terminate after one year or if the child stops living with the grandparent, by court order, the death of grandparent or grandchild, or revocation.

More than 52 million women and men have either osteoporosis or low bone mass. If current trends continue, the figure will climb to more than 61 million by 2020. It’s a widespread condition in which the bone loses its density, putting you at risk of fractures.

Wrist, hip and spine are the most common fracture points. The worst aspect of osteoporosis is that there is no warning. The first sign of the condition is often a broken bone after a minor fall.

HEALTH BENEFITS TO EXERCISE

Many people promote ‘weight-bearing’ activities as a way to halt

and reverse bone loss. Unfortunately, general activity will do very little to reverse bone loss. We do, however, know that human bone will adapt to a stimulus provided from progressively loaded strength training exercise. This exercise starts at the muscles and goes down to the bones; it affects all of the connective tissue in between, making for a more resilient drive train.

The health benefits of high-intensity strength training are far-reaching and impressive. There is evidence to suggest that high-intensity strength  training can increase our bone mass and bone strength and help prevent loss of bone mineral density as we age. This is exciting news, especially as significant improvements in bone health can be achieved from just two, 20-minute sessions of high-intensity strength training weekly.

BUILDING BONE STRENGTH

Walking, dancing, tennis, and yoga, however, have all been shown to benefit your bones. One exercise you can do at home to activate your muscles and help bone strength is a walking lunge. Here’s how to do it:

Begin by standing with your feet shoulder-width apart and your hands on your hips.

Step forward with one leg, flexing the knees to drop your hips. Descend until your rear knee nearly touches the ground. Your posture should remain upright, and your front knee should stay above the front foot.

You could say Tom Lix reinvented the whiskey business — and himself — thanks in part to a stint in the Navy and a 70s sitcom.

Fueled by endless cups of black coffee, Lix, 64, is an energetic booster for his growing Cleveland Whiskey company. He’s understandably enthusiastic about his distillery, housed in the MAGNET business on East 25th St., creating a label that’s available from New England to Georgia, to Europe and now into Japan.

With his growing business, Lix seems to be headed in one direction — forward. He’s embracing the adventure, in fact, seems to revel in it. Lix may have landed in Cleveland through an unexpected yet all-too-familiar family situation, but his business success has been deliberate and thoughtful. He saw an opportunity, created a solution and dove in.

EARLY ADVENTURES, LATER SUCCESS

Before Lix’s latest incarnation, he spent time fighting forest fires in Alaska as a teenager and went to Penn State. As a student activist he protested for civil rights and against the Vietnam War. He bounced around and kept his eyes open.

Whiskey entered his life when he joined the Navy, where he served for six years. He learned distilling basics from a chief petty officer who fashioned a still in the galley of the Navy ship Lix was assigned. He tucked the knowledge in the back of his mind.

Lix ended back in college, picking up degrees in biology and chemistry before heading to Boston University where he earned a doctorate in marketing. A born entrepreneur, Lix owned or operated software, technology and other companies, creating a host of successful enterprises that had nothing to do with bourbon making but everything to do with business acumen.

Then a family crisis intervened. His mother, MaryAnn, was diagnosed with dementia and Alzheimer’s and needed care.

If you want to travel, but don’t want the hassle that can come with it, take a bus.

Recreation and senior centers throughout the region sponsor escorted bus tours to dozens of interesting places. Museums, resorts, historic sites, adventure outings, if there’s a place you want to visit, a bus can get you there.

Community-based centers, churches and civic groups organize trips weekly. Start there, or try one of the bus companies listed.

Frequent traveler Ron Howard, 69, of Mayfield Heights is a retired engineer who can’t seem to stay home. He’s traveled the world, but you’re just as likely to find him exploring closer to home through motor coach excursions sponsored by senior centers.

He has been taking these trips since 1995 and has been on more than 10 multi-day trips and more than 50 bus day trips.

We caught up with him between his travels to learn why a bus tour is a great way to travel.

WHAT’S WITH ALL THE TRAVEL?

When I was a kid growing up in Cleveland, my family did not do vacations. We would go to Cedar Point on a Sunday, but that was about it. I felt vacation deprived.

HOW DID YOU GET HOOKED ON BUS TOURS?

I kept seeing these advertisements for these trips, so I decided to take one. One of the trips I saw advertised was for (Frank Lloyd Wright’s) Fallingwater and Kentuck Knob. It was a one-day bus trip that left out of Lakeland Community College in Kirtland.

WHAT’S THE BEST PART OF THE BUS TRIPS?

You don’t have to drive and you’re with other people. Generally, most of your meals are taken care of and usually they’re at good places. I find the trips are reasonably priced for what you get.

BEST ONE DAY TRIP?

JKL Tours runs historic and ethnic Cleveland tours.

Hearty and healthy meals can warm the body and soul during these last weeks of winter. Nothing heats up a kitchen like an oven-baked meal. Fortunately, good food can be good for you. The American Heart Association offers this easy and satisfying recipe from its Simple Cookingwith Heart Program. The recipe satisfies your craving for something crunchy. Go ahead and serve the chicken with oven-roasted broccoli sprinkled with chopped nuts.

For more simple, quick and affordable recipes, visit heart.org/simplecooking.

Crunchy Chicken

INGREDIENTS

2 1/2-3 lbs chicken breast

halves.

2 Tbs Dijon mustard

2 cups multigrain cereal

flakes, crushed

1/4 tsp salt

1/4 tsp black pepper

Heat oven to 400° F. Rinse chicken and pat dry. In a medium bowl, toss the chicken and mustard to coat.

In a large bowl, mix the crushed cereal, and add 1/4 teaspoon each salt and pepper. Coat the chicken with the cereal mixture and bake on a baking sheet until golden and cooked through, 45 to 50 minutes.

Oven-Roasted Broccoli

INGREDIENTS

1 lb fresh broccoli crowns, rinsed,

trimmed

1 1/2 tsp minced garlic or 2 tsps

jarred, minced garlic

2 tsps low-sodium soy sauce

1 tsp extra virgin olive oil

1/4 tsp black pepper

3 Tbs chopped, unsalted nuts

(almonds, pecans or walnuts suggested — whatever is on

sale will work).

Heat oven to 400° F (or can use same oven as chicken). Rinse broccoli, trim stalks into 1/8 inch-thick chunks and cut florets into bite-sized pieces. Place in a mixing bowl and toss with soy sauce, oil, pepper and garlic.

Sprinkle the chopped nuts evenly into a 9×13 inch casserole dish. Place in the oven 3-4 minutes until lightly toasted. Remove from oven and toss with broccoli mixture.

Transfer broccoli mixture to casserole dish and roast 10-12 minutes until broccoli is tender.

If you are thinking about downsizing, you need to think about whether getting a new pet is more important to you than where you live; not all places accept pets.

Federally subsidized housing must allow residents to have a pet. They may restrict the species to just dogs or cats, they may limit the number or weight of the pet, the pet must be current on all necessary vaccinations and parasite control and they must receive annual veterinary care services.

The facility may charge non-refundable fees and additional monthly expenses. Understand the restrictions, extra costs and other rules.

If you haven’t lived with a dog or a cat before, you may want to start with an older pet that has no known behavioral problems. Some may have medical conditions just like people have, so you may need to be prepared to pay for their veterinary expenses (up to $5,000 for some life-saving procedures).

Ask about medical and behavioral history before you adopt from a shelter or buy from a breeder, regardless of how reputable the animal shelter or breeder is.

You also want to get a second opinion from a veterinarian that isn’t closely affiliated with the shelter or breeder. Get a thorough health checkup. Live with the pet for three months; it may take that long for everyone to learn to live in harmony with one another.

Puppies and kittens are a joy to watch and to play with, but they also can be difficult at times. If you want one, try attending a course such as the one Dr. Elizabeth Feltes from The Behavior Clinic in North Olmsted developed. She and her team are  trained in the humane way to socialize animals with people and with other animals. They also provide in-home help when a pet has been cleared of a medical issue.