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March 11, 2005     Cape Gazette
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March 11, 2005

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T CAPE GAZETTE, Friday, March 11 - March 14, 2005 - 27 BUSINESS & REAL ESTATE Kids Cottage offers alternative for child care New center to open in Rehoboth Beach By Maggie Beetz Starting next fall, parents will have a safe and fun place to leave their children for spontaneous Saturday night dates or while run- ning errands during the week. This unique alternative to babysit- ting also offers birthday party packages, monthly classes, pre- school and after-school tutoring. Local mother Lori Schell and her friend and mother-to-be Taryn Burris are opening Kids Cottage, a drop-in play and learning center for children ages 2 to 12. Scbell Taryn Burris, left, and Lorl Sehell are educators, parents - said she came up with the idea or almost a parent in Burris's ease - and have been friends about a year ago when she liadn0 = since high school. Now they are business partners and own, ers of Kids Cottage. place to take her 9-month-old son to play. 'This has been a major project," said Schell, who said the women think they've thought of every- thing but encourage suggestions for this multipurpose, one-stop- shop for the children of Sussex County. Parents can drop off their kids at Kids Cottage instead of drag- ging them along to doctor's ap- pointments or while shopping, but they can also stay and meet other parents, enjoy complimentary cof- fee and tea in the second floor caf6 and use the overlook to ob- serve their children playing on the first floor. "Parents can stay and hang out and talk to each other, or they can just leave," Burris said. "We're trying to make every- thing as easy as possible for par- ents and for us," Schell said. She said finding a venue for children's activities is a challenge because there are no nearby Chucky Cheeses, roller rinks or bowling alleys. Kids Cottage will have beach- themed facades and storefronts for each classroom and playroom. The center of the building will be an open play area where parents and employees can observe the kids. Along the walls of the two-floor facility will be rooms posing as a surf shop, bookstore, beach res- cue, theater and other beach town stops. There will be a closed-in playgroup area outside including a basketball court. Construction is under way for the facility on Wolfe Neck Road, off Route 1 be- jomd Wa Wa at Midway. Schell and Burris, both former teachers, decided to incorporate education in the center and in- elude a preschool starting next September. "We both have the Maggie Bez photos Kids Cottage is currently being constructed behind the Wwa on:Wolfe Neck Road off Route I in Rehoboth Beaeh It will be open in time for preschool in September. background, and we both love ed- ucation," Burris said. Morning preschool will be available for 2-, 3-, 4-, and 5-year-olds - minnows, sand crabs, starfish and seahorses - from 9:30 a.m. to noon, several days a week. Schell and Burris have already hired two preschool teachers and provide applications for a variety of positions on their website. "We want to be known as the best place with the most highly qualified people," Sehell said. Monthly classes will include lessons for kids of all ages on arts and crafts, sign language, foreign language, cooking, computer, handwriting and dance among other topics. A calendar will pro- vide details on instructors, dates and fees. After-school tutoring will include reading, writing and math skills, computer and home- work help for children ages 5 to 12. For an hourly rate parents can drop off their children 9 a.m. to 9 p.m., Monday-Thursday, until 10 p.m., Friday and Saturday; and from noon to 5 p.m. Sunday. Drop-in child care offers children a variety of settings in which to Continued on page 28 Take the financial security quiz: Is your portfolio sound? OK, so you think you are knowledgeable when it comes to investing your hard-earned dol- lars. After all, you read the "Wall Street Journal" faithfully every day and on Sundays you review "Barron's" to get a leg up on your fellow investors. Some of you will even peruse "Smart Money" and "Money" magazine on a monthly basis to keep up with all the latest finan- cial planning news. And why do you constantly search to enhance your financial education? Easy: You want to op- timize your financial planning and investment strategy so ultimately you may be able to enjoy your golden years with financial securi- ty. So, let's take a little true-or- false test in order to determine just how bright you are when it comes to investing and planning for your financial future. Answer true or false to the following statements: David Clogg True or False: 1. The maximum contribution you can make to your 401(k) plan is 15 percent of your earned in- come. 2. All dividends from common FINANCE stocks are taxed at the federal tax rate level of 15 percent. 3. Only rollover IRA's from a previous qualified retirement plan may be rolled into your current 401(k) plan. Regular IRA's may not be commingled. 4. IRA assets are protected from creditors. 5. 401(k) plan participants that are aged 55 and older can con- tribute more than someone younger than 55 regardless of in- come or plan amount. 6. Qualified retirement plan as- sets are protected from creditors. 7. Equity style boxes determine which funds are in vogue. 8. Rising interest rates are fa- vorable for bonds. 9. As Alan Greenspan and the Federal Reserve Bank raised rates during 2004, long term bond val- ues fell as long term rates rose. 10. In general long-term bond funds are a great investment in a rising interest rate environment. Well how do you think you did? Did you score a 100 percent or perhaps do you think you strug- gled a bit? Not sure? Take a moment and grade yourself Answers: 1 - F; 2 -F; 3 - F; 4 - F; 5- F;6- T," 7- F; 8- F; 9- F; IO-E I'd say if you missed any of the answers you could be setting yourself up for a catastrophic mis- take in your financial plans some- time in the future. For example, if you have an IRA with substantial monies and your current 401(k)plan allows for rollovers into the plan you could potentially be making a hugh error by keeping the IRA separate in case you got sued sometime in the future. O.J. Simpson is mighty glad a lot of his money was tied up in a quali- fied retirement plan. Those monies were protected from his creditors at his civil trial. Or what if you invested large sums of monies into high dividend paying stocks only to learn that the underlying companies weren't profitable and the dividends were being paid out of capital. Sorry, no reduced tax rates unless divi- dends came from profits. So what is the point of the test? You can read all sorts of financial the help of a professional when it comes to your 401(k) retirement plan. We are living longer than ever and Social Security is shakier than ever if you believe our politi- cians. I still believe looking into the future that the American worker will face a retirement crisis in the coming year s . When it comes to providing for retirement health- care cost along with longevity our retiree's purse strings will surely be tested. It wouldn't surprise me at all if the baby boomer genera- tion destroys our financial system papers and magazines and still not by placing strong demands on our become an expert in the area of fi- nancial planning and investing. To be good in the financial arena, you really need to make it your full-time profession. I could read all I want about medicine, but un- less I became a doctor I will still need to see my internist on a regu- lar basis and look to him or her for advice. The same goes with investing. Learn as much as you can but lean on a professional when it comes to actually implementing your finan- cial plan. It is extremely important to seek already fragile federal budget. Therefore, learn as much as you can about retirement planning and investing and team up with a pro- fessional investment adviser and take proactive proper steps today to protect your twilight years and retire financially independent. For those of you that aced the test, congratulations for a job well done. Editor's note: David R. Clogg is a financial adviser at Chapin, Davis of Baltimore. For more in- formation, call 800-222-3246.