Sun Patriot http://sunpatriot.com The Waconia Patriot, Carver County News and Norwood Young America Times Mon, 02 Mar 2015 23:09:32 +0000 en-US hourly 1 Mitch Theis http://sunpatriot.com/2015/03/02/mitch-theis/ http://sunpatriot.com/2015/03/02/mitch-theis/#comments Mon, 02 Mar 2015 23:09:32 +0000 http://sunpatriot.com/?p=51092 Mitch  Theis

Happy 40th Birthday Mitch and you still have all those curls!!
Love: Mom and Dad

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Keith V. Harmsen, 58 http://sunpatriot.com/2015/03/02/keith-v-harmsen-58/ http://sunpatriot.com/2015/03/02/keith-v-harmsen-58/#comments Mon, 02 Mar 2015 23:09:17 +0000 http://sunpatriot.com/?p=51089 Keith   V.  Harmsen, 58

Keith V. Harmsen age 58 of Cologne passed away on Sunday March 1, 2015 at St. Mary’s Medical Center in Duluth. Funeral Service Sunday March 8, 2015 at 2:30 p.m. at St. John’s Lutheran Church in Norwood Young America, Minn., with Rev. David Winter and Rev. Eric Hutchison officiating; visitation from 1:00 pm until the time of the service at the church; interment Mt. Hope Cemetery, Carver.Keith was born on January 22, 1957 in Shakopee, MN the son of Clifford and Clarice (Verch) Harmsen . He was baptized on March 1, 1957 at St. John’s Lutheran Church in Young America by Rev. Raedeke and confirmed on April 4, 1971 at St. John’s Lutheran Church in Young America by Rev. Fry.Keith was born in Shakopee, MN and grew up in Cologne. He attended Central High School, Norwood Young America and then went on to earn a 2 year degree in automotive repair at Hennepin Technical College. Keith worked as a printing press operator at Instant Web in Chanhassen for 18 years and took great pride in being a hardworker. Keith enjoyed gardening, cooking and had a great passion for loud music. Some of his favorite bands included; The Beatles, The Rolling Stones, The Who and The Moody Blues.
Keith’s life changed in 1995 when he suffered a brain injury at one of his favorite racing spots, Brainerd International Raceway. Before 1995, Keith loved cars and attended many racing events including a Daytona 500. His favorite car was his 1990 Nissan 300zx Twin Turbo. Keith had an adventurous spirit and once hitchhiked to California at the age of 18.. In 1994, Keith traveled to Los Angeles to have his Nissan souped up by workers at the Steve Millen Race shop. He also traveled to New Orleans and attended Mardi Gras that same year. Keith was a devoted son and always available to help his family. Keith spent the last years of his life living at TBI residential in Cloquet. Keith’s legacy is for everyone to learn to treat others with great compassion and dignity, which is what he experienced from his caregivers.
Keith is preceded in death by his father Clifford; grandparents John and Francis Harmsen, Paul and Alma Verch.
Keith is survived by his loving family mother Clarice Harmsen of Norwood Young America, Minn.; sisters and brother Sharon (Delford) Beneke of Norwood Young America, Ken Harmsen of Chaska, Minn., Sheila Plekkenpol of Norwood Young America, Linda Harmsen of Norwood Young America; nieces and nephews Laurie (Bobby) Hilgers, Randy (Kellie) Beneke, Russell (Michelle) Beneke, Dr. Michael (Veronica) Beneke, Steven (Stephanie) Beneke, Jeffrey Harmsen, Todd (Wendi) Harmsen, Ryan Harmsen and Melanie Banitt, Kyle Harmsen, Reid Harmsen, Bobbie (Kevin) Oelfke (Goddaughter), Allison Plekkenpol, Travis Kroells; great-nieces and nephews Kristin (Scott), Philip (Stacia), Kyle, Dylan, Kayla (Tim), Audrianne (Cody), Megan, Alex, Sianna, Jacob, Tyler, Riley, Justin, Mae, Yoomee, Nate, Kennedy, Owen, Arya, Austan, Kali, K.J., great-great nephews Bryton and Henry; friends and extended family including residents and staff of TBI Residential Services in Duluth.
Casket Bearers are Jeff Harmsen, Bobbie Oelfke, Randy Beneke, Joe Zlotkowski, Kirk Lockhart, Thaddeus Peterson
Arrangements are with the Johnson Funeral Home in Waconia. www.johnsonfh.com

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5 Biggest Divorce Mistakes http://sunpatriot.com/2015/03/02/5-biggest-divorce-mistakes/ http://sunpatriot.com/2015/03/02/5-biggest-divorce-mistakes/#comments Mon, 02 Mar 2015 22:00:28 +0000 http://sunpatriot.com/?guid=6468946257608d63c259d613d7a01131 Attorneys say that if both you and your ex-spouse feel like you came out of your divorce thinking you gave up a lot, your settlement was probably fair. Maybe, but often your settlement’s results appear only after you live with them for a while. Here are five settlement pitfalls to watch for.

1. House poor. People don’t like being uprooted and often hesitate to inflict change on children who may already be upset from the divorce. Others are seriously attached to their house and likely invested a lot of work in it over the years. Nevertheless, many of the recently divorced ultimately find house payments difficult and the house itself difficult to maintain alone.

Your house may also suddenly be too large and, depending on the situation, can produce a huge and unexpected taxable event such as capital gains when you sell it.

2. Short-sightedness. All too often divorcing people focus on short-term issues and benefits rather than considering long-term effects of financial decisions. Some are so eager to end the marriage that they don’t even want to discuss the benefits and drawbacks of decisions.

Money decisions amid emotional turmoil almost always come with obvious plusses and hidden, eventual minuses. For example, if you keep the house and the equity but give up some substantially equal amount in a retirement plan account, you risk missing out on investment-return gains in your retirement accounts and lose that amount of savings for your retirement and your future. If you have to refinance the house to pay some of the equity to your spouse, you may run into cash-flow problems – essentially trading retirement savings for, perhaps, equity in a home that you may ultimately find too expensive to keep.

Always consider the long-term and the likely what-ifs.

3. Real costs. Maybe you simply have to keep that rental home. Or maybe you want favorite investments in the settlement. You’re likely looking at the current value of the investment, without considering costs of liquidation.

For example, if you receive the rental home and eventually sell it, you must pay capital gains and depreciation recapture, a sort of past-due for tax breaks you take for wear on the property through years and which can amount to a sizable (up to 25%) tax bite. You may also pay Realtor fees and general sales expenses.

Always calculate the cost of eventually selling or disposing of an asset that’s part of a marital settlement.

4. Payback. The major goal of some divorcing couples seems to be revenge at any cost. These people appear unable to speak civilly to each other, much less able to discuss differences and mediate issues; sometimes they actively work to undermine each other, stall and engage in other bad behavior.

Many not only create a poisonous atmosphere but often ratchet up attorneys’ fees. Family law attorneys often charge more than $350 an hour, may want a $10,000 retainer (renewable when depleted, naturally) and charge you 15 minutes of billable time for reading one short email.

Sometimes attorneys also engage other experts, such as business valuation specialists, pension evaluators, certified public accountants, investigators and career and vocation evaluators, among others. Fees can mount up.

If you’re willing to be reasonable, maybe try mediation. If that fails, at least try to not fan the flames and instead listen to the practical advice of your attorney. Why break the bank?

5. See only one piece. A divorce settlement is often a large puzzle with lots of pieces. People commonly look at one or maybe two areas, not the entire picture.

For example, you and your ex can trade the child exemption on your tax returns in different years. Having a child one extra day a year may allow you to claim head of household status when you file income taxes, potentially a considerable saving. You may also want to receive more maintenance (alimony) and less child support – without realizing that alimony incurs income tax.

To cite another instance, an attorney once asked me about the advisability of a lump sum in lieu of a series of alimony payments. The payer in that case was unable to deduct the lump sum from his income tax because of an arcane rule about front-end loading (excess) alimony; the Internal Revenue Service considers such a payment a non-taxable property settlement and therefore not deductible.

Much like when you decided to divorce in the first place, look at your settlement agreement as a whole. All parts need to work together to help you thrive in the near-term as well as in your future.

Follow AdviceIQ on Twitter at @adviceiq

Wendy Spencer, CFP, CDFA, is president of Spencer Capital Strategies Inc., an independent Money Concepts contractor in Arvada, Colo. She is also a family law mediator; her divorce website is www.divorcemoneypro.com.

AdviceIQ delivers quality personal finance articles by both financial advisors and AdviceIQ editors. It ranks advisors in your area by specialty, including small businesses, doctors and clients of modest means, for example. Those with the biggest number of clients in a given specialty rank the highest. AdviceIQ also vets ranked advisors so only those with pristine regulatory histories can participate. AdviceIQ was launched Jan. 9, 2012, by veteran Wall Street executives, editors and technologists. Right now, investors may see many advisor rankings, although in some areas only a few are ranked. Check back often as thousands of advisors are undergoing AdviceIQ screening. New advisors appear in rankings daily.

 

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Attorneys say that if both you and your ex-spouse feel like you came out of your divorce thinking you gave up a lot, your settlement was probably fair. Maybe, but often your settlement’s results appear only after you live with them for a while. Here are five settlement pitfalls to watch for.

1. House poor. People don’t like being uprooted and often hesitate to inflict change on children who may already be upset from the divorce. Others are seriously attached to their house and likely invested a lot of work in it over the years. Nevertheless, many of the recently divorced ultimately find house payments difficult and the house itself difficult to maintain alone.

Your house may also suddenly be too large and, depending on the situation, can produce a huge and unexpected taxable event such as capital gains when you sell it.

2. Short-sightedness. All too often divorcing people focus on short-term issues and benefits rather than considering long-term effects of financial decisions. Some are so eager to end the marriage that they don’t even want to discuss the benefits and drawbacks of decisions.

Money decisions amid emotional turmoil almost always come with obvious plusses and hidden, eventual minuses. For example, if you keep the house and the equity but give up some substantially equal amount in a retirement plan account, you risk missing out on investment-return gains in your retirement accounts and lose that amount of savings for your retirement and your future. If you have to refinance the house to pay some of the equity to your spouse, you may run into cash-flow problems – essentially trading retirement savings for, perhaps, equity in a home that you may ultimately find too expensive to keep.

Always consider the long-term and the likely what-ifs.

3. Real costs. Maybe you simply have to keep that rental home. Or maybe you want favorite investments in the settlement. You’re likely looking at the current value of the investment, without considering costs of liquidation.

For example, if you receive the rental home and eventually sell it, you must pay capital gains and depreciation recapture, a sort of past-due for tax breaks you take for wear on the property through years and which can amount to a sizable (up to 25%) tax bite. You may also pay Realtor fees and general sales expenses.

Always calculate the cost of eventually selling or disposing of an asset that’s part of a marital settlement.

4. Payback. The major goal of some divorcing couples seems to be revenge at any cost. These people appear unable to speak civilly to each other, much less able to discuss differences and mediate issues; sometimes they actively work to undermine each other, stall and engage in other bad behavior.

Many not only create a poisonous atmosphere but often ratchet up attorneys’ fees. Family law attorneys often charge more than $350 an hour, may want a $10,000 retainer (renewable when depleted, naturally) and charge you 15 minutes of billable time for reading one short email.

Sometimes attorneys also engage other experts, such as business valuation specialists, pension evaluators, certified public accountants, investigators and career and vocation evaluators, among others. Fees can mount up.

If you’re willing to be reasonable, maybe try mediation. If that fails, at least try to not fan the flames and instead listen to the practical advice of your attorney. Why break the bank?

5. See only one piece. A divorce settlement is often a large puzzle with lots of pieces. People commonly look at one or maybe two areas, not the entire picture.

For example, you and your ex can trade the child exemption on your tax returns in different years. Having a child one extra day a year may allow you to claim head of household status when you file income taxes, potentially a considerable saving. You may also want to receive more maintenance (alimony) and less child support – without realizing that alimony incurs income tax.

To cite another instance, an attorney once asked me about the advisability of a lump sum in lieu of a series of alimony payments. The payer in that case was unable to deduct the lump sum from his income tax because of an arcane rule about front-end loading (excess) alimony; the Internal Revenue Service considers such a payment a non-taxable property settlement and therefore not deductible.

Much like when you decided to divorce in the first place, look at your settlement agreement as a whole. All parts need to work together to help you thrive in the near-term as well as in your future.

Follow AdviceIQ on Twitter at @adviceiq

Wendy Spencer, CFP, CDFA, is president of Spencer Capital Strategies Inc., an independent Money Concepts contractor in Arvada, Colo. She is also a family law mediator; her divorce website is www.divorcemoneypro.com.

AdviceIQ delivers quality personal finance articles by both financial advisors and AdviceIQ editors. It ranks advisors in your area by specialty, including small businesses, doctors and clients of modest means, for example. Those with the biggest number of clients in a given specialty rank the highest. AdviceIQ also vets ranked advisors so only those with pristine regulatory histories can participate. AdviceIQ was launched Jan. 9, 2012, by veteran Wall Street executives, editors and technologists. Right now, investors may see many advisor rankings, although in some areas only a few are ranked. Check back often as thousands of advisors are undergoing AdviceIQ screening. New advisors appear in rankings daily.

 

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Using the Dollar Index http://sunpatriot.com/2015/03/02/using-the-dollar-index/ http://sunpatriot.com/2015/03/02/using-the-dollar-index/#comments Mon, 02 Mar 2015 20:30:38 +0000 http://sunpatriot.com/?guid=9908799aca6d364f09091d58d9555fd8 You’ve probably heard in the news that the dollar is stronger. But how much? A handy index tells you. If your business is involved in imports or exports, or if you invest in foreign securities or international mutual funds, it pays to know how to work with this index.

The U.S. Dollar Index (DXY) measures the value of the U.S. dollar relative to a basket of select currencies in an attempt to represent our major trading partners. The current mix is approximately:

  • 57.6% euro (EUR)
  • 13.6% Japanese yen (JPY)
  • 9.1% Canadian dollar (CAD)
  • 4.2% Swedish krona (SEK)
  • 3.6% Swiss franc (CHF)

The basket was altered in 1999 when the euro replaced several European currencies. It still includes the Swedish krona and the Swiss franc even though we trade more heavily with countries like China, Mexico and South Korea.

The U.S. Dollar Index value began at an arbitrary 100 in March 1973. Since then, it has been as high as 164.72 (February 1985) and as low as 70.698 (March 2008).

http://www.marottaonmoney.com/wp-content/uploads/2015/01/800px-U.S._Dollar_Index.png

You can find the index number at MarketWatch or other sites. MarketWatch also allows you to enter a date and get a historical quote. For example, the closing value of the dollar index is 80.04 at the end of 2013 and 90.28 at the end of 2014.

DXY 2014-12-31DXY 2013-12-31

 

 

 

 

 

With these numbers, you can say the U.S. dollar strengthened an average of 12.79% over 2014, because, to compute how much the dollar appreciated, simply subtract 80.04 from 90.28, and then divide the result by the initial value (80.04).

Note that the dollar appreciating 12.79% is not the same as foreign currencies losing 12.79%. To determine how much value foreign currencies lost requires some additional math.

Since one is the inverse of the other, the numbers are different. If the dollar appreciates 100% (doubling in value), foreign currencies lose only 50% of their value. Here is how to compute the percentage loss for foreign currencies:

If a dollar doubles, it is worth two times as much. The foreign currency is worth the inverse (1 divided by 2, which is 0.5). Since the foreign currency starts out as 1, and now is only 0.5, it loses 0.5. The loss (0.5) divided by the original value (1) equals the percentage loss (50%).

Now, apply the same math to real-world numbers. If a dollar is now worth 1.1279 times as much, then the foreign currencies are worth 0.8866 (1 divided by 1.1279). This means that they’re only 88.66% of their original value. The loss is 11.34%. Hence you can also say: Over 2014, foreign currencies lost an average of 11.34%, according to the U.S. Dollar Index.

Follow AdviceIQ on Twitter at @adviceiq.

David John Marotta, CFP, AIF, is president of Marotta Wealth Management Inc. of Charlottesville, Va., providing fee-only financial planning and wealth management at www.emarotta.com and blogging at www.marottaonmoney.com. Both the author and clients he represents often invest in investments mentioned in these articles.

AdviceIQ delivers quality personal finance articles by both financial advisors and AdviceIQ editors. It ranks advisors in your area by specialty, including small businesses, doctors and clients of modest means, for example. Those with the biggest number of clients in a given specialty rank the highest. AdviceIQ also vets ranked advisors so only those with pristine regulatory histories can participate. AdviceIQ was launched Jan. 9, 2012, by veteran Wall Street executives, editors and technologists. Right now, investors may see many advisor rankings, although in some areas only a few are ranked. Check back often as thousands of advisors are undergoing AdviceIQ screening. New advisors appear in rankings daily.

 

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You’ve probably heard in the news that the dollar is stronger. But how much? A handy index tells you. If your business is involved in imports or exports, or if you invest in foreign securities or international mutual funds, it pays to know how to work with this index.

The U.S. Dollar Index (DXY) measures the value of the U.S. dollar relative to a basket of select currencies in an attempt to represent our major trading partners. The current mix is approximately:

  • 57.6% euro (EUR)
  • 13.6% Japanese yen (JPY)
  • 9.1% Canadian dollar (CAD)
  • 4.2% Swedish krona (SEK)
  • 3.6% Swiss franc (CHF)

The basket was altered in 1999 when the euro replaced several European currencies. It still includes the Swedish krona and the Swiss franc even though we trade more heavily with countries like China, Mexico and South Korea.

The U.S. Dollar Index value began at an arbitrary 100 in March 1973. Since then, it has been as high as 164.72 (February 1985) and as low as 70.698 (March 2008).

http://www.marottaonmoney.com/wp-content/uploads/2015/01/800px-U.S._Dollar_Index.png

You can find the index number at MarketWatch or other sites. MarketWatch also allows you to enter a date and get a historical quote. For example, the closing value of the dollar index is 80.04 at the end of 2013 and 90.28 at the end of 2014.

DXY 2014-12-31DXY 2013-12-31

 

 

 

 

 

With these numbers, you can say the U.S. dollar strengthened an average of 12.79% over 2014, because, to compute how much the dollar appreciated, simply subtract 80.04 from 90.28, and then divide the result by the initial value (80.04).

Note that the dollar appreciating 12.79% is not the same as foreign currencies losing 12.79%. To determine how much value foreign currencies lost requires some additional math.

Since one is the inverse of the other, the numbers are different. If the dollar appreciates 100% (doubling in value), foreign currencies lose only 50% of their value. Here is how to compute the percentage loss for foreign currencies:

If a dollar doubles, it is worth two times as much. The foreign currency is worth the inverse (1 divided by 2, which is 0.5). Since the foreign currency starts out as 1, and now is only 0.5, it loses 0.5. The loss (0.5) divided by the original value (1) equals the percentage loss (50%).

Now, apply the same math to real-world numbers. If a dollar is now worth 1.1279 times as much, then the foreign currencies are worth 0.8866 (1 divided by 1.1279). This means that they’re only 88.66% of their original value. The loss is 11.34%. Hence you can also say: Over 2014, foreign currencies lost an average of 11.34%, according to the U.S. Dollar Index.

Follow AdviceIQ on Twitter at @adviceiq.

David John Marotta, CFP, AIF, is president of Marotta Wealth Management Inc. of Charlottesville, Va., providing fee-only financial planning and wealth management at www.emarotta.com and blogging at www.marottaonmoney.com. Both the author and clients he represents often invest in investments mentioned in these articles.

AdviceIQ delivers quality personal finance articles by both financial advisors and AdviceIQ editors. It ranks advisors in your area by specialty, including small businesses, doctors and clients of modest means, for example. Those with the biggest number of clients in a given specialty rank the highest. AdviceIQ also vets ranked advisors so only those with pristine regulatory histories can participate. AdviceIQ was launched Jan. 9, 2012, by veteran Wall Street executives, editors and technologists. Right now, investors may see many advisor rankings, although in some areas only a few are ranked. Check back often as thousands of advisors are undergoing AdviceIQ screening. New advisors appear in rankings daily.

 

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Phil F. Chan, 66 http://sunpatriot.com/2015/03/02/phil-f-chan-66/ http://sunpatriot.com/2015/03/02/phil-f-chan-66/#comments Mon, 02 Mar 2015 19:07:07 +0000 http://sunpatriot.com/?p=51082 Phil F. Chan of New Prague, Minn., was born September 15, 1948 and died suddenly on February 26, 2015. He is survived by his wife Connie, daughter Kelly Vossen ( Mike Dols), his son Jon Vossen, his grandson Troy Vossen, sisters Carol (Larry) Ische, Susan (Roy) Sprague, his brother Patrick Chan and many nieces and nephews. He was preceded in death by his parents Helen and Phil Chan. A celebration of his life will be held at 11:00 a.m. on March 9, 2015, at Hosanna Church Chapel, 9600 163rd St. W., Lakeville, Minn. A light lunch will be served following the service.

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Julianne E. Litfin, 76 http://sunpatriot.com/2015/03/02/julianne-e-litfin-76/ http://sunpatriot.com/2015/03/02/julianne-e-litfin-76/#comments Mon, 02 Mar 2015 19:06:59 +0000 http://sunpatriot.com/?p=51079 Julianne   E.  Litfin, 76

Julianne E. Litfin age 76 of Waconia passed away on Sunday March 1, 2015 at the Good Samaritan Center in Waconia, Minn., with her family by her side.
Funeral Service Thursday March 5, 2015 at 1:00 p.m. at Trinity Lutheran Church (601 East 2nd Street), Waconia with Rev. Bob Alsleben officiating; visitation 1 hour prior to the service at church; interment Trinity Lutheran Cemetery.
Julianne was born on November 30, 1938 in Lester Prairie, Minn., the daughter of Edward and Lorena (Rolf) Miller. She was baptized and confirmed at St. Paul’s Lutheran Church in Lester Prairie. On March 30, 1960, Julianne was united in marriage to DeWayne H. Litfin.
Julie was a devoted wife, wonderful Mother and amazing Grandmother! She loved her family and spent countless hours devoted to them. She loved crafts and sewing as well as enjoying the outdoors. Julie enjoyed going on many hunting and fishing trips with her husband. She also loved birds, animals, flowers and nature. She treasured the times she spent with her granddaughter watching her in dance and theater. She is most remembered for being a person that never complained. Up to the end of her life, with all of her health struggles, never once did she complain. She had a strong faith in her Lord and Savior and that carried her through many trying times. Her husband, children, grandchild and the many that knew her will sorely miss her. She will be missed, but never forgotten. She was one in a million!!
Julianne is preceded in death by her parents Edward and Lorena Miller; sister Marion Slanga; step-sister Pat; father-in-law and mother-in-law Herbert and Elnor Litfin; brothers-in-law and sisters-in-law Roger Litfin, Donald Litfin, Donna Mae Gilster, Debbie Bechtel, Victor Gilster.
Julianne is survived by her loving family: husband DeWayne Litfin; son David (Colleen) Litfin of Houlton, WI; daughter Vicki (Paul) Stahlke of Chaska, Minn.; granddaughter Elizabeth Stahlke; sister Norma (Alan) Spitler of Missouri; sisters-in-law and brothers-in-law Sharon and LeRoy Borg of Waconia, Dianne and Mike Kosek of Waconia, Mary and Rollie Reinke of Waconia, Joyce Litfin of Waconia, Vickie Litfin of Waconia, Tom Bechtel of Wisconsin; nieces, nephews other relatives and friends.
Casket Bearers Steven Litfin, Jason Litfin, Michael Gilster, Mason Roeglin, Michael Litfin, Jeff Borg, Matthew Litfin.
Arrangements are with the Johnson Funeral Home in Waconia. www.johnsonfh.com

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Dorothy Vestal, 94 http://sunpatriot.com/2015/03/02/dorothy-vestal-94-2/ http://sunpatriot.com/2015/03/02/dorothy-vestal-94-2/#comments Mon, 02 Mar 2015 19:06:39 +0000 http://sunpatriot.com/?p=51076 Dorothy   Vestal, 94

Dorothy Vestal, 94, of Norwood Young America, passed away Monday, Feb. 23, at Auburn Manor in Chaska.
Dorothy Marie (Elliott) Vestal was born on July 14, 1920, in Young America. She was the daughter of William and Lillian (Goetze) Elliott.
On Jan. 28, 1941, Dorothy was united in marriage to Samuel “Bud” Vestal in Duluth, by the Justice of the Peace. The couple made their home in Kirksville and Joplin, Missouri, Gardena and Culver City, California, and Norwood Young America. They shared over 68 years of marriage together until Samuel passed away on Sept. 18, 2009.
Blessed be her memory.
Dorothy is survived by her daughter, Wendy Warner and her husband, Harold, of San Tan Valley, Arizona; daughter-in-law, Emily Vestal of Chaska; grandchildren, Jeremy Warner and his wife, Heather, of Ashburn, Virginia, Adam Warner of Tempe, Arizona, Mark Vestal and his wife, Shelly, of Victoria, and Kristi Pappa and her husband, Will, of Lonsdale; great-grandchildren, Jordan Warner, Hunter Warner, Sophia Warner, Nina Pappa, Payton Pappa and Samuel Vestal; nieces, nephews, other relatives and many friends.
Dorothy is preceded in death by her parents, William and Lillian Elliott; husband, Samuel “Bud” Vestal; son, Michael Vestal; and granddaughter, Michelle Vestal.
Funeral services were held Saturday, Feb. 28, at 11 a.m. at Church in the Maples – United Methodist Church in Norwood Young America with interment following at Mau Cemetery. Arrangements by the Paul-McBride Funeral Chapel of Norwood Young America. Online obituaries and guestbook are available at www.hantge.com.

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Lee Roy (Lee) W. Tschimperle, 70 http://sunpatriot.com/2015/03/02/lee-roy-lee-w-tschimperle-70/ http://sunpatriot.com/2015/03/02/lee-roy-lee-w-tschimperle-70/#comments Mon, 02 Mar 2015 19:04:52 +0000 http://sunpatriot.com/?p=51073 Lee Roy  (Lee)   W.  Tschimperle, 70

Lee Roy W. “Lee” Tschimperle age 70 of Waconia passed away Wednesday February 25, 2015 at Ridgeview Medical Center in Waconia, Minn.
Mass of Christian Burial Saturday March 7, 2015 at 10:30 a.m. St. Joseph’s Catholic Church in Waconia with Father Martin Shallbetter as Celebrant of the Mass; visitation from 9:30 am until the time of the Mass at the church; interment St. Joseph’s Catholic Cemetery.
Lee was born on February 11, 1945 in Shakopee, Minn., the son of William and Mary (Rademacher) Tschimperle. He was baptized and confirmed at St. Joseph’s Catholic Church in Waconia.
Lee’s life was an up and down struggle. After having brain surgery in his twenties it changed his life forever. The last 2 years he lived at Auburn Meadows, he made lots of new friends and had a purpose to get up in the morning to feed the birds, water the flowers in the courtyard and helped push wheel chairs for the residents. He loved his truck to drive around town and local areas and sadly we had to take it away because it was no longer safe for him to drive next summer. Lee always would sit in the same chair by the fireplace with a cup of coffee, he would say the same thing every time we came to visit “where have you been”.
Lee enjoyed the outdoors, nature and going for a walk in the woods. His passion was hunting and fishing, always hitting the target considering the injured eye. Lee was happy and laughed a lot; but he also had many bad days, now every day will be good. Now we see him walk into the sunset with his hunting dog, gun over his shoulder and his limit of pheasants. If we would ask him, I bet he would say I’m going to Heaven using his favorite expression. “You Bet Ya”.
Preceded in death by his parents William and Mary “Mamie” Tschimperle; grandparents John and Elizabeth Rademacher, Martin and Anna Tschimperle; brother-in-law Melvin Borchardt; nephew Loren Borchardt.
Lee is survived by his loving family: sisters Lorraine Borchardt of Cokato, Shirley Tschimperle of Belle Plaine, Joyce (Lowell) Noeldner of Cologne; nieces and nephews Lyle Borchardt, Janell and Eric Lee, Lowell and Brenda Schmitz, Brian and Sandy Schmitz, Jody Herrmann, Brigette Noeldner, Brad and Shari Noeldner; great nieces and great nephews; other relatives and friends.
Casket Bearers are Lee’s nieces and nephews.
Arrangements with the Johnson Funeral Home in Waconia. www.johnsonfh.com

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Yvonne M. Johnson, 83 http://sunpatriot.com/2015/03/02/yvonne-m-johnson-83/ http://sunpatriot.com/2015/03/02/yvonne-m-johnson-83/#comments Mon, 02 Mar 2015 19:04:33 +0000 http://sunpatriot.com/?p=51070 Yvonne   M.  Johnson, 83

Yvonne M. Johnson age 83 of Watertown passed away Thursday February 26, 2015 at Ridgeview Medical Center in Waconia, Minn.
Funeral Service Sunday March 1, 2015 at 2:00 p.m. at Watertown Evangelical Free Church in Watertown with Rev. Greg Loomis officiating; visitation 1 hour prior to the service at the church; interment Watertown Public Cemetery in Watertown.
Yvonne was born on August 25, 1931 in Watertown, Minn., the daughter of Elmer and Eunice (Lundquist) Johnson. She was baptized and confirmed at Watertown Evangelical Free Church in Watertown.
Yvonne enjoyed her time at Westwood Place and Elim Home and loved playing bingo with her buddies. She was a lifelong member of Watertown Evangelical Free Church.
Preceded in death by her parents Elmer and Eunice Johnson; sister and brother-in-law Loree and Duane Dobratz; a sister in infancy Durelle Johnson.
Yvonne is survived by her loving family; nieces and nephews Michael and Nancy Dobratz of Watertown, Paul Dobratz of Waconia, Linda and Richard Johnson of Mound, Steven Dobratz of Cokato; great nieces and nephews Daniel Johnson, Jesse and Jackie Johnson, Chris and Mandy Johnson, Lynda Dobratz; great-great nieces and nephews Amber, Landon, Oscar and Sydney; cousins, other relatives and friends.
Casket Bearers are Dan Johnson, Jesse Johnson, Chris Johnson, Lynda Johnson, Mandy Johnson, Jackie Johnson.
Arrangements with the Johnson Funeral Home in Waconia. www.johnsonfh.com

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Bull Market: More to Run http://sunpatriot.com/2015/03/02/bull-market-more-to-run/ http://sunpatriot.com/2015/03/02/bull-market-more-to-run/#comments Mon, 02 Mar 2015 17:01:09 +0000 http://sunpatriot.com/?guid=eac3934b546a3442dece32af9da96559 For the past three months, the Standard & Poor’s 500 has churned sideways. Is that a bad portent? Not at all. The outlook is for higher prices, if you look at three indicators: the relationship between inflation and market value (known as the Rule of 20), the S&P 500’s earnings/price yield and energetic merger activity.

Yes, stock prices in aggregate have been trendless and choppy. On down days, it feels as if a bear trend may have started. On up days, optimism takes over. This type of market offers active investors an excellent opportunity to overtrade and lose money.

Do not anticipate how the game will end, even if it feels like there are only seconds left on the clock (especially if you are in the last seconds of the Super Bowl). Allow your disciplined, rules-based approach to guide you through the short-term volatility.

1. The Rule of 20. This involves subtracting the current rate of inflation from the number 20 to determine the potential price/earnings of the S&P 500. If inflation is 2% or less, the potential P/E is 18-plus. At an 18 P/E multiple on $125 – the 2015 consensus for S&P 500 earnings – the index could potentially move 10% higher. 

Inflation rose 0.2% in January, not counting food and energy. If we substitute that rate in place of the Federal Reserve target rate of 2%, the potential P/E jumps to 19.8, implying roughly 17% potential appreciation from current levels.

In the late 1970s, inflation ranged from 12% to 14% annually. During this time, the S&P 500 P/E was in single digits. The Rule of 20 worked.

Generally, if we assume no deflation, the Rule of 20 implies the market is overvalued if the P/E exceeds 20. At the moment, the S&P’s P/E is 19.

In 2000, the S&P 500 P/E reached 26 with inflation running at an average of 3.4%. A two-and-a-half-year bear market then followed. At the peak in November 2007, inflation was 4.3%. The inflation rate implied a multiple potential for the S&P 500 of 15.7%. This is roughly the maximum P/E level achieved at the high in 2007 before the 2008-2009 bear market. 

Macintosh HD:Users:aiqinc:Desktop:unnamed.jpg

2. Earnings yield. Another long-term indicator for where the market is headed comes from dividing S&P 500 earnings by its price (E/P) to determine the earnings yield of the market. Since 1963, the S&P 500 average real earnings yield (that’s adjusted for inflation, which we estimate at 1.5% yearly) is 2.5%, according to JP Morgan Asset Management’s Market Insights. On that basis, the index’s current real earnings yield is roughly 4.5%. The S&P 500 would have to increase about 35% to reach its long-term average real yield – meaning the denominator would need to increase that much.

Both the Rule of 20 and the real earnings yield of the S&P 500 suggests the bull market has not yet reached its valuation potential. The implication from these rules is the sideways trading pattern of the market for the past three months could be just a healthy consolidation before another leg higher in this bull cycle.
 
3. M&A. Meanwhile, company managements give off a bullish sign with their robust plans for mergers and acquisitions. When companies buy other companies, the acquisition should be accretive - meaning the purchase price should be sufficiently low to allow for the future earnings stream to make a good return on investment. 

The latest evidence of ebullient M&A activity came when pharma giant Pfizer (PFE) announced the acquisition of Hospira (HSP) for $90 per share or $17 billion, roughly a 40% premium over the prior-day closing price.

Pfizer would pay the 40% premium on top of a large run-up for Hospira, the biggest provider of injectable drugs, over the past couple of years. The stock was not distressed and this is not a bargain basement acquisition. Justifying the acquisition premium with cost/revenue synergies and strategic objectives is tough to do. Essentially, Pfizer management believes the market has significantly undervalued Hospira.
 
After a long hiatus, M&A bounced back last year. Most of the purchase activity is coming from corporate buyers, rather than financial buyers (e.g., private equity firms, leverage buyout firms, etc.). Because corporate buyers know and live their industries, market observers consider them a better indicator of business health and valuation than financial buyers.

Follow AdviceIQ on Twitter at @adviceiq.

Nicholas Atkeson and Andrew Houghton are the founding partners of Delta Investment Management, a registered investment advisory firm in San Francisco, and authors of the new book, Win by Not Losing: A Disciplined Approach To Building And Protecting Your Wealth In The Stock Market By Managing Your RiskAdditional market commentary and investment advice is available via their websites at www.deltaim.com and www.deltawealthaccelerator.com

AdviceIQ delivers quality personal finance articles by both financial advisors and AdviceIQ editors. It ranks advisors in your area by specialty, including small businesses, doctors and clients of modest means, for example. Those with the biggest number of clients in a given specialty rank the highest. AdviceIQ also vets ranked advisors so only those with pristine regulatory histories can participate. AdviceIQ was launched Jan. 9, 2012, by veteran Wall Street executives, editors and technologists. Right now, investors may see many advisor rankings, although in some areas only a few are ranked. Check back often as thousands of advisors are undergoing AdviceIQ screening. New advisors appear in rankings daily.

 

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For the past three months, the Standard & Poor’s 500 has churned sideways. Is that a bad portent? Not at all. The outlook is for higher prices, if you look at three indicators: the relationship between inflation and market value (known as the Rule of 20), the S&P 500’s earnings/price yield and energetic merger activity.

Yes, stock prices in aggregate have been trendless and choppy. On down days, it feels as if a bear trend may have started. On up days, optimism takes over. This type of market offers active investors an excellent opportunity to overtrade and lose money.

Do not anticipate how the game will end, even if it feels like there are only seconds left on the clock (especially if you are in the last seconds of the Super Bowl). Allow your disciplined, rules-based approach to guide you through the short-term volatility.

1. The Rule of 20. This involves subtracting the current rate of inflation from the number 20 to determine the potential price/earnings of the S&P 500. If inflation is 2% or less, the potential P/E is 18-plus. At an 18 P/E multiple on $125 – the 2015 consensus for S&P 500 earnings – the index could potentially move 10% higher. 

Inflation rose 0.2% in January, not counting food and energy. If we substitute that rate in place of the Federal Reserve target rate of 2%, the potential P/E jumps to 19.8, implying roughly 17% potential appreciation from current levels.

In the late 1970s, inflation ranged from 12% to 14% annually. During this time, the S&P 500 P/E was in single digits. The Rule of 20 worked.

Generally, if we assume no deflation, the Rule of 20 implies the market is overvalued if the P/E exceeds 20. At the moment, the S&P’s P/E is 19.

In 2000, the S&P 500 P/E reached 26 with inflation running at an average of 3.4%. A two-and-a-half-year bear market then followed. At the peak in November 2007, inflation was 4.3%. The inflation rate implied a multiple potential for the S&P 500 of 15.7%. This is roughly the maximum P/E level achieved at the high in 2007 before the 2008-2009 bear market. 

Macintosh HD:Users:aiqinc:Desktop:unnamed.jpg

2. Earnings yield. Another long-term indicator for where the market is headed comes from dividing S&P 500 earnings by its price (E/P) to determine the earnings yield of the market. Since 1963, the S&P 500 average real earnings yield (that’s adjusted for inflation, which we estimate at 1.5% yearly) is 2.5%, according to JP Morgan Asset Management’s Market Insights. On that basis, the index’s current real earnings yield is roughly 4.5%. The S&P 500 would have to increase about 35% to reach its long-term average real yield – meaning the denominator would need to increase that much.

Both the Rule of 20 and the real earnings yield of the S&P 500 suggests the bull market has not yet reached its valuation potential. The implication from these rules is the sideways trading pattern of the market for the past three months could be just a healthy consolidation before another leg higher in this bull cycle.
 
3. M&A. Meanwhile, company managements give off a bullish sign with their robust plans for mergers and acquisitions. When companies buy other companies, the acquisition should be accretive - meaning the purchase price should be sufficiently low to allow for the future earnings stream to make a good return on investment. 

The latest evidence of ebullient M&A activity came when pharma giant Pfizer (PFE) announced the acquisition of Hospira (HSP) for $90 per share or $17 billion, roughly a 40% premium over the prior-day closing price.

Pfizer would pay the 40% premium on top of a large run-up for Hospira, the biggest provider of injectable drugs, over the past couple of years. The stock was not distressed and this is not a bargain basement acquisition. Justifying the acquisition premium with cost/revenue synergies and strategic objectives is tough to do. Essentially, Pfizer management believes the market has significantly undervalued Hospira.
 
After a long hiatus, M&A bounced back last year. Most of the purchase activity is coming from corporate buyers, rather than financial buyers (e.g., private equity firms, leverage buyout firms, etc.). Because corporate buyers know and live their industries, market observers consider them a better indicator of business health and valuation than financial buyers.

Follow AdviceIQ on Twitter at @adviceiq.

Nicholas Atkeson and Andrew Houghton are the founding partners of Delta Investment Management, a registered investment advisory firm in San Francisco, and authors of the new book, Win by Not Losing: A Disciplined Approach To Building And Protecting Your Wealth In The Stock Market By Managing Your RiskAdditional market commentary and investment advice is available via their websites at www.deltaim.com and www.deltawealthaccelerator.com

AdviceIQ delivers quality personal finance articles by both financial advisors and AdviceIQ editors. It ranks advisors in your area by specialty, including small businesses, doctors and clients of modest means, for example. Those with the biggest number of clients in a given specialty rank the highest. AdviceIQ also vets ranked advisors so only those with pristine regulatory histories can participate. AdviceIQ was launched Jan. 9, 2012, by veteran Wall Street executives, editors and technologists. Right now, investors may see many advisor rankings, although in some areas only a few are ranked. Check back often as thousands of advisors are undergoing AdviceIQ screening. New advisors appear in rankings daily.

 

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