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February 3, 1995     Cape Gazette
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February 3, 1995
 
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46- CAPE GAZETTE, Friday, February $ - February 9,199fi Business & Real Estate Rehoboth downtown group charts course of "old time friendliness" By Trish Vernon The Rehoboth Beach Down- town Business Association (RBD- BA) showed its determination to promote and improve the lsort's business district at its 1995 kick off social, held Tuesday, Jan. 31 at Victoria's in the Boardwalk Plaza. New president Melissa Clink told those gathered "we want to work together to promote old-time friendliness and we want to get the whole .community involved." Clink said she was pleased to see the homeowners and city officials represented at the social, and even more enthused by the fact that a number of homeowners signed UP that evening to join the four com- mittees the RBDBA is forming. "We want to work with all enti- ties, including the outlets and oth- er businesses from outside the city limits, the chamber of commerce, as well as the Cape May=Lewes Ferry, to foster unity and bring people into town to show them what we've got," Clink said. "We feel the outlets are good for the Continued on Page 47 Trish Vernon photo The Rehoboth Beach Downtown Business Association (RBDBA) held its first January Social on Tuesday, Jan. 31 at Victoria's. The highlights of the evening were the presentation of 1995 officers and Applause" awards. Shown above are new officers (L to r.) Calvin Stahl, board member;, June Pettigrew, treasurer;, Greg McDermott, board member;, Ann Marie Taylor, sec- ond vice president; Jerry Peden, secretary; Jennifer Zerby, board member;, John Brady, first vice president; and MeHssa Clink, president. Changes are underway at the new Midway IGA to customize the store to mteh the needs of its customers. Midway grocery reopens as Midway IGA; owners planning mid-March grand opening By Dennis Forney A big new sign recently rose above the grocery store at Midway Shopping Center. It tells all who look that the store has now become Midway IGA. Bruce Barrall, Rick Donohoe and Britt Goff - who are all involved in Goff's IGA in Milton - are the new owners of Midway IGA. They took over ownership of the business early in January from its previous owners, Britting- ham Brothers represented by Bob Brittingham. "We're cleaning and painting and have installed new freezers," said Bruce Barrall, who manages the Goff's IGA in Milton. "We will begin some major changes in mid-February and we hope to have a grand opening in mid-March." Barrall said the new owners want to re-organize their Midway IGA so that local shoppers can do their weekly shopping. "We want them to be able to buy a little of everything," said Barrall. He said a lot of time is being spent now to talk to customers and find out what their needs are. "We try to specialize in what people ask for, what they want," said Bar- rail. "We take pride in that. Some of our sections need more items, Some need less." The 6,500 square foot grocery store, by grand opening, will fea- ture a full service deli with sand- Continued on Page 47 "Sixtysomethings" seek optimum asset allocation mix For most "sixtys0methings", achieving financial security at retirement is the foremost consid- eration. However, in today's economic environment, high taxes, inade- quate retirement planning, leftover debts from children's education and a longer life expectancy all seem to be taking a toll on retire- ment goals. If you are "sixtysomething", and thinking about retirement, the way you allocate your retirement assets can be important. Your optimal asset mix will need to reflect the common needs and concerns of your age group, while taking into account your special needs and circumstances. "Sixtysomethings" Marilyn and Jim Byers plan to retire next year. While they have built a retirement fund during their working years and have finished paying for their FINANCIAL FOCUS John Killoran Bahr children's education, they are still concerned about inflation and also that they could conceivably out- live their retirement savings. Although they believe they should have enough income to meet day- to-day expenses, Marilyn and Jim worry about preserving their hard- won nest egg and about the safety of their investments. They would also like to have enough left over after living expenses to take vaca- tion trips, adequate liquidity for emergencies, and to enjoy the comfortable retirement lifestyle that they envisioned during their working years. Although many people continue to work throughout their sixties, for a typical "sixtysomething" investor, retirement is the key financial Concern. Whether indi- viduals in this age category are already retired or have not yet left the work force, they can look for- ward to an average of 20 more years of financial needs that still must be met. Typical asset allocation for "six- tysomethings" includes 30 to 40 percent stocks; 45 to 55 percent fixed income and 15 percent cash. Investors in their sixties and beyond are generally risk-adverse and in need of current income. These requirements should be met by the fixed income component of the portfolio - specifically U.S. Treasury notes. Importantly, "tiering" the maturities among one-year, three-year, five-year and seven-year notes can allow for potential reinvestment at higher rates down the road. "Sixtysomething" investors might also consider an immediate annuity, which can provide a par- tial tax-advantaged income stream to help reduce taxable income below the level where it would expose social security benefits to taxation. Also of significance for "six- tysomethings" is preserving pur- chasing power and near-retirees can't stay ahead of inflation with- out equities. Generally, stocks recommended for "sixtysome- things" are conservative and Offer the potential for some capital appreciation as well as dividend income. In addition, several types of variable annuities offer a vari- ety of tax-deferred benefits along with growth potential to allow more money to work harder to meet longer-term investment goals. If you are in your sixties now, your optimum asset allocation mix will change over time, depending upon your individual circum- stances and financial objectives. The best way to achieve your goals is to have a well thought out plan that is developed and reviewed regularly by you and your financial advisor. (This column was written by John Killoran Bahr of Dean Wit- ter Reynolds, Inc., Greenville. Other financial advisors are wel- come to submit articles for publi- cation in the Cape Gazette.)