Reno Gazette-Journal from Reno, Nevada on August 11, 1977 · Page 23
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Reno Gazette-Journal from Reno, Nevada · Page 23

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Reno, Nevada
Issue Date:
Thursday, August 11, 1977
Page:
Page 23
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Sylvia Porter M Betjrement years can be economic nightmares The cost of living for a retired couple jumped another 7 per cent in 1976 alone, and in some sections of the U S annual living expenses of the average retired couple are no as high as $11,000 - excluding personal income Faxes. Even though in other areas, a retired couple can live on an annual Income as low as $4,373, one out of every four elderly Americans now lives in poverty. And for those who live to age 75, the proportion living in poverty is a startling 50 per cent. 6 Despite all threats, it would be far too pessimistic to expect a return to double-digit inflation In the U.S. for any prolonged period, if at all. That would imply an unreasonable repetition of a disastrous combination of t adverse forces. But it is reasonable to anticipate an ever-: rising cost of living, perhaps at an annual rate of 5 to 6 per ; cent for years to come. Even 6 per cent compounded an- . nuuiy woiua mean mai me aouar wmcn bought you 100 ; cents of goods and services in 1974 would buy you only a bit ; more than 50 cents worth in 1984, only about 30 cents worth . in 1994. ' Jnflation of that magnitude not only pinches the working : family. It fiercely erodes the buying value of your Social ; Security dollars, your private pension benefits, any other : savings you have in fixed-income investments (insurance, cash savings). 1 Instead of the relaxed, comfortable years pictured in the unreal-life ads, you may find your retirement years an ' economic nightmare. And this may be piled on top of the "shock" of retirement - which ranks in a high ninth place in- a list of 40 leading "stress" producers, not far behind . "death of a spouse." What, then, should you do NOW? : If you are in your 20s or 30s, now is the right time to begin to think and prepare for independence in your 60s-70s. .If you are in your 50s, now is the time you MUST plan in earnest for your financial security. You are very late but not yet too late to manage your older years properly. If you are in your 60s, you are almost surely too late to prepare for your maximum benefit. You've drifted into a position where you are fighting from weakness, not strength. You must ask yourself at least these 10 key questions. 1. When will you retire? . At 65 or sooner? Even today, a man retiring at 65 can look forward to a life expectancy of another 13 years, and his slightly younger wife can expect to live an average of nearly 20 more years. So the sooner you start, the better ' your chance to lay the groundwork for the comfortable life you'll want. : 2. Will you lead a life of leisure or continue to work? If you are in sufficient physical and mental health, you'll -begin another career and the odds are If you are young today, you'll have two or more careers in your lifetime. If you want just to play, that too you must plan for now. ! 3. How much are you worth today? Your worth is the total you have after you subtract all your liabilities from all your conservatively estimated assets. It should be an unexpectedly pleasant computation to figure out. 4. Where will you retire? .-.'' That will be a significant factor in your expenses for heat, clothes, other basics. , 5. What can you save by retiring? . Here you weigh Medicare benefits, work-connected expenses, lower or no life insurance premiums, etc. 6. How much money do you need in retirement? ' Many costs you have today will decline or cease to be at all important. Your home mortgage should have been paid off, your overall housing expenses should be lower. The expenses of rearing and educating your children will be behind you. The list is long. ,. 7. When can you start drawing Social Security and your other pension benefits? . 8. What precisely is your benefit deal under your corporation's pension plan? For the first time ever, you should be able to get exact, easy -to-understand details from your corporation, i 9. Will you have enough health insurance? 10. And what kind of investments can help you obtain additional retirement income? In Monday's column, one typical real-life couple's retirement program will be tailored for your own benefit. Slot operations Reno Evening Gazette Thursday, August 11, 1977-23 Vending company denial recommended i CARSON CITY (AP) - Efforts by Carson-Tahoe Ven-5 ding Co. to install two slot machines at Carson Hot Springs i here were recommended for denial Wednesday by the ! Nevada Gaming Control Board, s 1 The board held that the site on the north side of Carson I - has been operated unsuitably in the past. The firm was unable to get an endorsement from Carson Sheriff Pete IRasner. .... The board said there had been instances of policing i -ui,. n ik inootinn ivhinh initiiioc a nap nnnrp area piuuicuia a. uig ivikavivii, iuim i and hot springs. , The Nevada Gaming Commission, which meets here next week, will have final say on the application and other matters on which the board made recommendations. In other action, the board recommended approval of small slot operations at four Reno area sites and three Las Vegas area locations. denied by board for second time CARSON CITY (AP") V- The Nevada Gaming Control Board has recommended for a second time that William and Linda Brown be denied licenses to run slot operations at bars in Las Vegas and Pioche on grounds they have unsuitable backgrounds. Incidents cited by the GCB Wednesday included a fight in which Brown bit off the ear of another man during a brawl, and discovery of loaded dice and slot slugs in an apartment where Mrs. Brown had been staying. The Browns want to operate slots in Billy Brown's Basin Bar in Las Vegas and at the Overland Hotel and Bar in Pioche. Both argued the incidents had been blown out of proportion. Board Chairman Roger Trounday said Brown showed "a tremendous amount of violence" in the past. He also said Mrs. Brown made a misrepresentation by saying she got a casino work card after the incident in which the dice and slugs were found. The work card was issued, but not for a gaming-relatedjob. Mrs. Brown said the dice and slugs, Mexican coins which could be played in slots, belonged to another person living in the apartment. The board had recommended denial of the two previously but the Gaming Commission, which has final say on the matter, referred it back to the board for further investigation.' In other action the GCB recommended that Fred L. MacDonald, who helped get financing for the new Onslow hotel-casino in Reno, come forward for licensing as a money finder. The GCB said MacDonald got a fee of more than $60,000 for arranging a loan to the Onslow from a Florida savings and loan association in which he serves as a director. The GCB also deferred action on Jack Perry's request for licensing as assistant manager at the Joker Club in North Las Vegas, noting a complaint may be filed against the club because of alleged irregularities. Board member Jeff Silver said the club stated a key employe had been overseeing certain gaming operations but he understood the employe was seldom at the site and not even on the payroll. - Board member Jack Stratton said he heard topless dancing was provided at the club, despite an order against nude entertainment. The board recommended approval of a permanent license for Paul Bendetti and Peter DeLamos at the Jolly Trolley Casino in Las Vegas, which they bought from former Clark County Assessor Jim Bilbray, providing certain conditions are met. The two have held a probationary license since taking over the club, formerly the Centerfold, a year ago. But their lawyer, Grant Sawyer, said the licensing was hampering efforts to get financing. Trounday cited a "laundry list" of late payments, but Sawyer said Bendetti and DeLamos had kept up with most of their payments but had been saddled by debts of the ' previous operators. Silver added that Bendetti had kept inadequate records of his personal finances, despite an order to keep records which would enable board agents to trace his money. The board said the two should keep adequate records, maintain a minimum bankroll and a $25,000 letter of credit. Similar conditions had been imposed under the probationary license. The board also recommended approval of plans by Edith Starker and her son Wayne to each hold a one per cent Interest in the El Cortez hotel-casino in Las Vegas; and backed plans by Richard Klamian to supervise the Stardust race book and sports pool in Las Vegas. Also recommended were Randolph Sloan as operator of Sloan Electronics in Reno; Allen and Dolores Cnilders as operators of Roadside Inn in Fallon ; and Herbert Pastor as an unconditional licensee at the Golden Goose Casino and Coin Castle Casino in Las Vegas. John Thompson' was recommended as sports pool manager and Denise Suchy as race book manager at the Gem Club and Reno Turf Club, both in Reno; and Roy Levine was recommended as shift boss at the MGM Grand inLas Vegas. 'Hunter's marathon due A "Hunter's Marathon" is expected to draw from 200 to 300 members of the Safari Club International (SCI) to Reno Aug. 25-27 to participate in events testing the hunter's basic skills. The first annual marathon has been organized by Chet Piazzo, president of the Sierra Nevada Chapter of SCI, a non-profit organization dedicated to conserving wildlife and preserving hunting. Muzzle loading, archery, flint and steel, pistol shooting and boomerang competition will be featurea in the activities, with participants dressed safari style. Directors' meetings and entertainment are also olanned for the three-day marathon. The festive portion of the event on Aug. 26 will include a hosted cocktail party at the Holiday Hotel, . a banquet and auction at the Pioneer Inn and a cocktail show starring Roger Miller and Kay Starr sX HfliTflh's The hunting competition will take place at Harolds Trap Shooting Club from 2 to 5 p.m. Aug. 27, including trap shooting, skeet shooting, duck tower, muzzle loading, pistol shooting, bow and arrow, sling shot, boomerang and flint and steel. Meetings will be conducted at the Holiday Hotel each day of the marathon. The directors of the American Wilderness Leadership Conference will meet from 2 to 5 p.m. Aug. 25. ACI directors are scheduled to meet all day Aug. 26, and SCI Conservation Fund directors will meet from 9 a.m. to noon . Aug. 27. Wve got a good! tflistig going flo ways. EDMONTON CALGARY GREAT FALLS BUTTE IOAHO FALLS - POCATELLO MINNEAPOLIS ST. PAUL SIOUX FALLS Ml X' 1 TACDCQ W RAPIDC-Ty SALTECITY mr . , luoiicn . lOS ANGELES SAN FRANCISCO MIAMI MEXICO CITY 'HAWAII Western has nonstops, thru-jets or connecting flights to all these cities. ' Wherever you're going on the Western Airlines system, we've got a good thing going. Our Salt Lake and Denver flights let you make easy connections to northern cities like MinneapolisSt. Paul. Via Los Angeles, you can fly our DC-10 Spaceships ; nonstop.to Miami-gateway to The Bahamas,the Caribbean and Latin America. We offer the convenience of one-airline service to Hawaii and Mexico. ' ;. "" '. And, of course, there's our famous complimentary Champagne for every adult on every flight. - We've got a good thing going, wherever you're going! Your Travel Agent knows -just say you want to fly Western. Or call us at 323-1661. IVostemfUriiMB (l HawaAbsteWestem USAIFbriteJCanafcMexco lt S4vVr 1 Honk, two, three, four "Honk two, three, four your left web foot, your right." Sargeant Goose seems to be putting his squad Sell Those Used Items Through the Classified Ads of geese through their morning marching drill at Paradise Park. Get in step you silly goose. (Gazette photo by Jim Beazley) lobster lobster flMSERFDOD W MON 1NI MOAN Wttl 112 MEREST Will B Paid On WllScrtd Dm4s WTn.it. RAY GRO PROPERTIES 21D MORTGAGE LOANS REDUCE EXPENSES Pq Off t Consolidate Bills Honte bnprovements W con arrange homaownar loani at lowar ratat than thosa charged by thrift companlat, finance companies, on bank cardf and (tore credit plana. CALL I M-14U ho:,:e mortgage company S7S FOfltSJ ST.. KINO Shemin-Mlliants longest lasting htox house paint, MOO; Flat or Gloss. SALE a gal. reg. $13.99 a gal One cent Sale on wallcoverings. Buy one roll at the regular price and get a second roil for one cent. Florals, stripes and patterns from Sundance, Handi-Hang and Debut A Collections. Single rolls $2.75 to $12.95. Limited quantities on some patterns. All In double-rolls. Wallcovering Sale ends Aug. 22. . Sitisticth GtlMRtttsI in the use of these coatings or your purchase price mill be refunded. Bring ywhoust poiatiitf prcbems to our ufly certified house paint specialists or ask about our problem-solving manual. w t" Save'2'3agal. Styk Ptr for ktex wilt filfot end Sty ft Ptrftcf'Sttin burnt!. latex wall paint SALE Satin Enamel SALE a gal. fa gal. reg. $10.93 reg. $11 93 Paint Sale ends Sept 6 t600strtttotM!$MtBtiryu. 196 S. WELLS AVE., RENO 322-4009 SHOP MOW., FBI. 70-3 $ATve?Q-4K)0 . x 1 1

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