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BUSINESS &
REAL ESTt00TE
Pasqualini's Bakery celebrates first anniversary
By Esther Kernosh
Pasqualini's Bakery turned one
year old June 1.
"We made it through the win-
ter," said a relieved Kathy
Pasqualini.
With the help of friends, bakery
owners Pasualini and Karen
Schmidt made it through a busy
Memorial Day weekend just in
time to celebrate their first birth-
day.
"Our friends were bagging rolls
for three and a half hours. We had
orders for thousands of rolls,"
Pasqualini matter-of-factly men-
tioned. Even after the holiday,
business was booming for these
two enterprising women. Paquali-
ni's operates a retail bakery and it
supplies bread, rolls, pastries and
desserts to many of the local
eateries as well as to corporate
clients in Dover.
Pasqualini's offers a wide vari-
ety of goodies, most of which are
made from scratch. "We call this
a scratch bakery. Almost every-
thing we do is from scratch. It
may not be as cost-effective to do
things this way but people can
tell," saidSchmidt.
Pasqualini has been baking for
22 years. "Kathy loves cooking:
She still enjoys it. Kathy really
loves when someone tries her
food and says 'ummm,'" Schmidt
said. The hours were grueling.
"I come in at 2 a.m. on week-
days and midnight on weekends,"
said Pasqualini. Despite the long
hours, Pasqualini and Schmidt
talked about expanding the bak-
ery.
Pasqualini learned to bake from
her brother, who graduated from
the Culinary Institute of America.
Pasqualini's father helped the
women open a bakery, and
Pasqualini learned all she could
about baking.
Later she took a job with Bing's
Bakery in Newark, where she
worked for 10 years. "I learned a
little from every place I worked,"
said Pasqualini. "At Bing's I
worked with Dutch and German
people, I learned how to use
everything. They waste nothing,"
Pasqualini said.
After leaving Bing's, Pasqualini
opened Big Sky in Wilmington
and worked there three years.
Pasqualini and Schmidt moved to
the Cape Region in 1998.
Pasqualini was one of the original
people involved with It's A Won-
derful Loaf bakery.
Either Kernoeh photos
Karen Schmidt and Kathy Pasqualini, co-owners of
Pasqualini's Bakery, reveal some of the many treats available
at their bakery.
About a year later, Pasqualini
and Schmidt began looking for a
bakery of their own. "A lot of
things were for sale at the time,"
said Pasqualini. "We heard about
our present location because the
owner lived near us when we were
up north. We looked into this. It
was empty for two years and dirty,
but the front was here. We bought
all the equipment," Pasqualini
mused as she described the state
of the bakery as they initially
found it.
Today, Pasqualini's is a cheerful
place. The walls are dotted with
ribbons from Pasqualini's 18
prizes in several of the Rehoboth
Beach chocolate festivals.
The bakery's cases are filled to
the brim with "awesome donuts -
a real pain; we cut them by hand -
granola, breads, stuffed loaves,
cakes, pies, cookies, croissants,
danishes, muffins and gourmet
dog bones. You name it Kathy
can make it," Schtidt said.
In addition to baked goods,
The dessert cases at
Pasqualini's Bakery are
filled with so many different
goodies it's hard to choose
just one.
Pasqualini's makes sandwiches to
order and plans to offer wraps.
Pasqualini's Bakery's yummy
goods may be enjoyed on the
shop's shady, screened-in gazebo,
at home or at any number of local
restaurants.
The bakery is located at 101 At-
lantic Ave., just behind The Crys-
tal Restaurant. The phone number
is 227-2111. The fax number is
227-1086.
Women: use strategy for long-term f'mancial goals
In annual financial planning
surveys over the years, we've
consistently found that many
women are concerned about many
aspects of long-term financial se-
curity - such as personal savings,
caring for children and elderly
family members and maintaining
independence in retirement. Let's
take a look at the financial con-
cerns that women share and exam-
ine some strategies for meeting fi-
nancial goals many women have
set for themselves.
Investing: Don't take a back
seat. "A woman should have a
purse of her own." This familiar
saying reflects the fact that at
some point in their lives, women
often discover that managing their
money becomes a major focus. If
you haven't been accustomed to
it, it's not reasonable to expect
that you'll have an innate knack
for it. Gain proficiency at invest-
ing with the help of a financial
professional you trust, who can
help you consider and develop fi-
nancial strategies.
To begin, get an idea of where
you stand. Examine your financial
picture: checking and saving ac-
counts, insurance, mortgage and
investments.
Locate account records, tax re-
turns, insurance policies and pen-
sion plan statements, among other
financial documents.
Determine how much you al-
ready have saved toward financial
goals and how you see yourself as
an investor in terms of risk-taking
and desired return. With this in-
formation, a financial professional
can help you develop realistic
strategies for working to,yard
your goals.
Credit: When borrowing
makes sense. Consider the impact
liabilities can have on your finan-
cial plan. By integrating smart
credit strategies into your plan,
you could reduce your monthly
expenses, minimize your tax de-
ductibility, avoid disrupting a
well-planned investment strategy
and increase opportunities for as-
set growth.
Paying off a debt is often more
of an emotional goal than a sound
financial strategy. When you have
a cash or large purchase need, us-
ing credit may actually help you
increase your net worth. As a rule
of thumb, always compare your
potential investment earnings to
the interest paid on borrowed
funds. When the potential invest-
ment return is higher than the fi-
nancing costs, it may make sense
to borrow.
Retirement: a greater need. Be-
cause women have a longer life
expectancy than men, women
have a particular need to safe-
guard their own retirement securi-
ty. Women should take every op-
portunity to save, particularly in
tax advantaged ways.
If you have a 40t(k) plan at
work, defer the maximum
amount, or as much as you can,
and take advantage of employer
matching contributions. Automat-
ic savings plans are another good
way to save. Have an investment
company automatically deduct a
set amount of money from your
paycheck or bank account for in-
vestment in mutual funds of your
choice. Depending on your annual
income, you may be able to con-
tribute up to $2,000 per year into a
Roth or traditional IRA. A Roth
IRA offers a means of tax-de-
ferred savings with nondeductible
contributions whose assets can be
withdrawn tax-free once the ac-
count has been open for at least
five years and you reach age 59
and a half (or before that age for
certain qualified reasons). A tradi-
tional IRA also offers tax-deferred
savings and potential current tax
deductions for contributions.
Elder care: Women are key.
According to the National Al-
liance for Caregiving, 73 percent
of family caregivers are women.
If you haven't yet talked to your
parents about planning, now is the
FINANCIAL FOCUS
ALLEI JONES
time. Make sure they have an up-
to-date will. A living will specifies
the kind of medical care a person
would want if they were unable to
communicate his or her wishes. A
health care power of attorney or
proxy designates a family member
to make health care decisions.
A senior's assets are often wide-
ly scattered, making financial
management difficult. Talk with
your financial consultant about
ways to simplify the asset man-
agement task.
Help your parents determine
whether longterm care insurance
is an option. This insurance can
provide for care in a nursing
home, in one's own home, at as-
sisted-living facilities or adult day
care centers. It's not for everyone,
particularly those who have a
modest income and limited assets,
so talk it over with your advisor.
A tax credit is available for peo-
ple who live with spouses or par-
ents who are unable to care for
themselves and must pay a care-
giver so that they can work. The
credit can cover up to 30 percent
of expenses, depending on your
adjusted gross income, with an
annual cap.
College savings: Many options.
Today, you have more ways than
ever to save for college. The most
recent innovation are college sav-
ings plans sponsored by individ-
ual states. You can contribute up
to the maximum set by a state's
plan, frequently as much as
$100,000, and the assets can grow
tax-deferred until withdrawn.
When withdrawn for higher edu-
cation purposes, the earnings are
generally taxed at the child's rate.
Assets in an education IRA also
can grow tax-deferred and be
withdrawn tax-free if used for
qualified college expenses. You
are allowed annual contributions
of up to $500 per child, if your
modified adjusted gross income
falls within allowable limits.
You may also be eligible to con-
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