The Mille Lacs County Times http://millelacscountytimes.com The Mille Lacs County Times cover community news, sports, current events and provides advertising and information for Milaca, Minnesota and it's surrounding areas. Tue, 25 Aug 2015 12:07:44 +0000 en-US hourly 1 Dragons defeat Wolves in football season opener http://millelacscountytimes.com/2015/08/25/dragons-defeat-wolves-in-football-season-opener/ http://millelacscountytimes.com/2015/08/25/dragons-defeat-wolves-in-football-season-opener/#comments Tue, 25 Aug 2015 12:07:44 +0000 http://millelacscountytimes.com/?p=113155 The Milaca Wolves’ season opener against Litchfield was an introduction to the varsity game for several young players.
Brian Bowman / Mille Lacs County Times The Milaca Wolves’ Reece Sandberg, bottom, gets help from teammates Jon Boyle, second from right, and Luke Manoleff for a tackle.
Brian Bowman / Mille Lacs County Times
The Milaca Wolves’ Reece Sandberg, bottom, gets help from teammates Jon Boyle, second from right, and Luke Manoleff for a tackle.

And, as it is with many first-year players, it took the Wolves about a half to get adjusted to the pace of the play.
The result was a 20-7 road loss to the Litchfield Dragons in the season opener for both teams on Saturday, Aug. 22.
“I thought we had a lot of first varsity-game mistakes going on like offsides and not snapping the ball,” said Wolves’ head coach Cory Anderson. “Silly things like that hurt our drives. They were drive killers and, as the game went on, we got better and better.”
Litchfield wasted little time getting on the scoreboard as Dylan Madsen opened the scoring for the Dragons with a four-yard touchdown run just four minutes into the game for a 6-0 lead (the two-point conversion attempt failed).
Jared Pedersen scampered into the end zone from five yards out to put the Dragons up 14-0 with 4:48 left in the second quarter (he also added a two-point conversion).
Litchfield then threatened to go up three scores as the Dragons drove deep into Milaca territory in the waning seconds of the first half. But a pass by Dragons’ quarterback Josh Prahl on the first half’s final play could not be hauled in by a Litchfield receiver.
The Dragons did increase their lead to 20-0, however, with 5:10 remaining in the third quarter when Prahl snuck into the end zone from a yard out. Again, the two-point conversion attempt failed.
Milaca finally scored its first points of the season when QB Nathan Hass hooked up with receiver Jimmy Kragt for an 11-yard touchdown pass with 2:12 remaining in the third quarter. Blake Kiel then added the extra point.
Hass was 13 for 21 for 135 yards in the game. He also had an interception in the game’s final minute with Milaca driving deep in Litchfield territory. Seven of those completions went to Kragt for 80 yards.
“Our saving grace was that we won the second half,” Anderson said optimistically. “It was 7-6 in the second half, so as the game wore on I thought we were stronger and stronger.”
The Wolves were definitely better in the second half. Still, the offense has a long way to go before they put fear in opposing defenses.
“I was hoping we would move the ball more than we did,” Anderson admitted. “But Litchfield executed their game plan really well on both offense and defense. No one was running wide open and they pressured really well.
“They did what they do really well.”
The Wolves had trouble running the ball with Hass as the leading rusher with 48 yards on 10 attempts. Ted Blenkush did a nice job running, at times, finishing with 42 yards on 12 carries.
Defensively, the Wolves settled down nicely after giving up the early touchdown. Litchfield controlled both sides of the line of scrimmage for most of the game but the Wolves did do a better job defensively in the second half.
“Our offense didn’t move the ball very much so the defense had to deal with the short field quite a bit,” Anderson noted. “They handled that pretty well. We turned them over once and we stopped them right before the half, which was big, because they were getting the ball coming out of the break.”
Brody Sather had a great game defensively for the Wolves at the nose guard position. Sather was double teamed quite often, which created space for Blenkush to make tackles. Blenkush led Milaca with six solo tackles.
Despite being disappointed with the season-opening loss, Anderson said the Wolves gained plenty of experience in that first game.
“There were eight kids on both sides of the ball that this was their first varsity snap,” Anderson noted. “We gained that experienced and we finished, I think, healthy. Jon Boyle may have tweaked a knee but we haven’t seen him yet (Monday).”
Milaca will be back in action Friday, Aug. 28 when the Wolves (0-1) visit Little Falls (0-1) to battle the Flyers. Little Falls lost 21-14 to Detroit Lakes last Saturday in its season opener.
“They lost that game but they had several chances to win,” Anderson said, noting Little Falls has about 30 more players on its roster compared to Milaca. “They probably should have won that game. Offensively, it looks like they are kind of running the similar type of stuff as before. Defensively, they’re a 4-3 man-to-man type of team or a 5-2 man-to-man type of team.
“But if we play well, then we can play with anyone in our conference.” ]]> http://millelacscountytimes.com/2015/08/25/dragons-defeat-wolves-in-football-season-opener/feed/ 0 Cleo “Faye” Maalis http://millelacscountytimes.com/2015/08/24/cleo-faye-maalis/ http://millelacscountytimes.com/2015/08/24/cleo-faye-maalis/#comments Mon, 24 Aug 2015 22:27:40 +0000 http://millelacscountytimes.com/?p=113153 Cleo

Visitation services for Cleo Maalis, age 86 of Milaca, formerly of Crosby, will be held Thursday, August 27th at the Milaca Peterson-Johnson Funeral Home from 6-8 p.m. Private interment to follow the next day, August 28th in Crosby, Minnesota. Arr. Peterson-Johnson Funeral Home – Milaca www.pjfuneralhome.com
Cleo Maalis was born July 17, 1929 in North Bend, Wisconsin to Carroll and Eunice Sims. She went to school in Melrose, Wisconsin where she was in band and various sports. She was working as a telephone operator near Fort McCoy when she met the love of her life, James Maalis. They were married shortly afterward and moved to Crosby, Minnesota where she had five sons. Cleo loved to travel, read and cook, and enjoyed her kids and grandkids. Her favorite pastime was watching her birds at the feeder. She was a very giving person, always willing to lend a hand. Cleo passed away Sunday, August 23, 2015 at her home in Milaca.
She is survived by her five sons Bruce, Brian, David (Denise), Lynn (Carrie) and Craig (Caryn) Maalis. She had eight grandchildren, Terryll Beniek, Justin Maalis, Chad Maalis, Michelle Maalis, Jacob Maalis, Kendra Maalis, Nicole Maalis and Erika Maalis. She also had nine great-grandchildren and most recently, her first great-great grandchild. She is also survived by her two brothers, Larry and Dale Sims and one sister, Joyce Sawyer.
She was preceded in death by her parents; husband Jim; sisters, Doris Byom, Jean Pace and Nancy Stearns.

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Why to Simplify Your Life http://millelacscountytimes.com/2015/08/24/why-to-simplify-your-life/ http://millelacscountytimes.com/2015/08/24/why-to-simplify-your-life/#comments Mon, 24 Aug 2015 19:02:17 +0000 http://millelacscountytimes.com/?guid=85add8727fe8dd01e8bdd1871d822740 When you get home from a long day’s work, do you open the door to a pile of laundry you meant to fold and put away two days ago? When you get dressed in the morning, do you face overstuffed drawers and a messy closet, and still think you have nothing to wear? Do you constantly buy things, yet the effort makes no difference in how you feel? Time to take a hard look at where your time and money go.

First, try to scale back. For the sake of your budget if not your sanity, hold off on buying more stuff until you inventory what you already own. Marie Kondo’s book, The Life-Changing Magic of Tidying Up, teaches a trick for no-fuss deep cleaning: When deciding whether to keep an item, you ask yourself, “Does this spark joy?” If no, donate or throw out the item. Don’t miss other tips from Kondo’s book, which also asks if you hold onto certain items out of guilt or shame.

Among other areas of your life to simplify:

To-do lists. If looking at your calendar for the week makes you anxious, you might want to clear a few appointments. You can easily agree to commitments out of guilt or obligation, but you can also freely say no when that buys you back time for the things you’d rather do: relax, pursue a hobby or spend more hours with loved ones.

At work, figure out which meetings are essential and which you can skip. Prioritize your assignments to see which can wait. Turn down an additional project if it might set you back in completing more-important work.

Talk to your supervisor about what’s on your plate; together you can order your projects.

Outside of work, saying no remains a powerful way to simplify, such as when asked to volunteer for something not dear to you or to a social outing far down your list. Make time for the people and things that matter and decline everything else without an ounce of guilt.

Finances. Divvying your income between all your accounts can be a lot of work every month – unless you automate the process. Taking just 30 minutes to set up automatic bank transfers will save you a ton of time down the road and make sure you’re saving enough of your income.

Decide how much you can allocate toward your savings, investments and retirement. You can arrange for deduction of your 401(k) retirement contributions from your paycheck before you ever see (or can spend) the money; using a similar method, you can contribute to a Roth individual retirement account either in smaller amounts throughout the year or in one lump sum.

Also set aside part of your take-home pay in savings. I recommend about 20%. Do the best you can.

Automating can keep you from overspending, and how quickly your savings can grow with just a bit of effort will shock you.

Your attitude. Stop contributing to the cult of busyness. When someone asks how you’re doing, stop proclaiming how busy you are. Contrary to popular myth, incessant activity doesn’t make you seem so much important in the eyes of others as tired, stressed and difficult to spend time with.

Clear your home, schedule and finances of the clutter that doesn’t matter to you. You’ll win back a lot more.

Follow AdviceIQ on Twitter at @adviceiq

Sophia Bera, CFP, is the founder of Gen Y Planning and is the top Google search for “Financial Planner for Millennials.” She works virtually with people in their 20s and 30s across the country as she builds a location independent practice. She is a contributor for the AOL Daily Finance website and has been quoted on various websites and publications including Forbes, Business Insider, Yahoo, Money Magazine, InvestmentNews, Financial Advisor magazine and The Huffington Post. Sophia is a sought-after speaker and presenter and in her free time enjoys performing as an actor/singer and traveling the world. Follow her on Twitter @sophiabera or sign up for the Gen Y Planning Newsletter to stay up to date on financial articles geared toward Millennials. She’s also the author of What You Should Have Learned About Money, But Never Did: A Gen Y Guide to Empowered Personal Finance (Kindle edition). Oh, and she’s not your father’s financial planner.

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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When you get home from a long day’s work, do you open the door to a pile of laundry you meant to fold and put away two days ago? When you get dressed in the morning, do you face overstuffed drawers and a messy closet, and still think you have nothing to wear? Do you constantly buy things, yet the effort makes no difference in how you feel? Time to take a hard look at where your time and money go.

First, try to scale back. For the sake of your budget if not your sanity, hold off on buying more stuff until you inventory what you already own. Marie Kondo’s book, The Life-Changing Magic of Tidying Up, teaches a trick for no-fuss deep cleaning: When deciding whether to keep an item, you ask yourself, “Does this spark joy?” If no, donate or throw out the item. Don’t miss other tips from Kondo’s book, which also asks if you hold onto certain items out of guilt or shame.

Among other areas of your life to simplify:

To-do lists. If looking at your calendar for the week makes you anxious, you might want to clear a few appointments. You can easily agree to commitments out of guilt or obligation, but you can also freely say no when that buys you back time for the things you’d rather do: relax, pursue a hobby or spend more hours with loved ones.

At work, figure out which meetings are essential and which you can skip. Prioritize your assignments to see which can wait. Turn down an additional project if it might set you back in completing more-important work.

Talk to your supervisor about what’s on your plate; together you can order your projects.

Outside of work, saying no remains a powerful way to simplify, such as when asked to volunteer for something not dear to you or to a social outing far down your list. Make time for the people and things that matter and decline everything else without an ounce of guilt.

Finances. Divvying your income between all your accounts can be a lot of work every month – unless you automate the process. Taking just 30 minutes to set up automatic bank transfers will save you a ton of time down the road and make sure you’re saving enough of your income.

Decide how much you can allocate toward your savings, investments and retirement. You can arrange for deduction of your 401(k) retirement contributions from your paycheck before you ever see (or can spend) the money; using a similar method, you can contribute to a Roth individual retirement account either in smaller amounts throughout the year or in one lump sum.

Also set aside part of your take-home pay in savings. I recommend about 20%. Do the best you can.

Automating can keep you from overspending, and how quickly your savings can grow with just a bit of effort will shock you.

Your attitude. Stop contributing to the cult of busyness. When someone asks how you’re doing, stop proclaiming how busy you are. Contrary to popular myth, incessant activity doesn’t make you seem so much important in the eyes of others as tired, stressed and difficult to spend time with.

Clear your home, schedule and finances of the clutter that doesn’t matter to you. You’ll win back a lot more.

Follow AdviceIQ on Twitter at @adviceiq

Sophia Bera, CFP, is the founder of Gen Y Planning and is the top Google search for “Financial Planner for Millennials.” She works virtually with people in their 20s and 30s across the country as she builds a location independent practice. She is a contributor for the AOL Daily Finance website and has been quoted on various websites and publications including Forbes, Business Insider, Yahoo, Money Magazine, InvestmentNews, Financial Advisor magazine and The Huffington Post. Sophia is a sought-after speaker and presenter and in her free time enjoys performing as an actor/singer and traveling the world. Follow her on Twitter @sophiabera or sign up for the Gen Y Planning Newsletter to stay up to date on financial articles geared toward Millennials. She’s also the author of What You Should Have Learned About Money, But Never Did: A Gen Y Guide to Empowered Personal Finance (Kindle edition). Oh, and she’s not your father’s financial planner.

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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Your First Planning Question http://millelacscountytimes.com/2015/08/24/your-first-planning-question/ http://millelacscountytimes.com/2015/08/24/your-first-planning-question/#comments Mon, 24 Aug 2015 16:31:29 +0000 http://millelacscountytimes.com/?guid=8772681f340b5e1ad5b903f8c0ccdfb1 When you start formalizing what to do with your money, what should you think about first? Determining what will matter most to you at different stages of your life is crucial to developing a financial plan. Not everyone has the same opinion or values: One person’s forgettable toy is another’s indispensable treasure.

For instance, when my grown-up girls were babies, they each had a possession that they could not live without. Julianne had her baby doll; in good times and bad, she looked for this doll to carry with her. So much so that on vacation the doll made the short list of allowed items when traveling on a plane.

As most of you parents can relate to, this doll was critical to Julianne’s happiness, and therefore, a significant item for our much-needed sleep. In many ways, the piece of plastic with pretty little eyes mattered more to us than a good suitcase.

Taking the doll to Disneyworld turned out far riskier task than I envisioned. We inadvertently left the doll in the hotel room as we checked out and, after many frantic calls to the hotel, learned that it was nowhere to be found.

In typical Disney fashion, a package arrived a few days later with a small stuffed Mickey Mouse to ease Julianne’s pain. As much as my daughter loved Mickey, though, her true love remained missing.

Vanished toy, miserable child, busted nights: If you’re a parent, you can easily picture this.

We did what any sleep-deprived parents would do and headed to the toy store to find the same doll. Success (hard to believe, right?) and without hesitation we purchased not one but two of the same dolls. We kept the spare doll hidden just in case of another catastrophe of absent-mindedness. In financial advising, we call this contingency planning, or maybe a kind of emergency savings fund.

This toy mattered to her – and, as with most toddlers, she didn’t consider the favorite item interchangeable. You cannot substitute Mickey Mouse or anything else for a cherished doll.

Julianne, of course, now lives day to day without her doll. The things that matter most to all of us change as we grow and enter different stages of life.

In your 20s, your passion may be traveling or exploring different career paths. In your 30s, your heart may swell with thoughts of buying a home and beginning a family. Your 40s may see college expenses and helping your own parents as your dear causes.

Let’s hope that amid all these changing desires, you plan and save for your own retirement.

Determining what matters most to you matters a lot in turn to your financial planning – and in fact is the first step. Issues and challenges might be similar person to person, but your specific needs are paramount to making and monitoring the progress of your plan. You also address your needs in the order that you meet or feel them in your life.

So what do you value most and how are you going to pay for your future needs? Your answer starts you on the way to putting together the right money plan for the rest of your life.

Follow AdviceIQ on Twitter at @adviceiq.

Maureen Crimmins is the co-founder of Crimmins Wealth Management LLC in Woodcliff Lake, N.J. Her websites are www.CrimminsWM.com and www.RootsofWealth.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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When you start formalizing what to do with your money, what should you think about first? Determining what will matter most to you at different stages of your life is crucial to developing a financial plan. Not everyone has the same opinion or values: One person’s forgettable toy is another’s indispensable treasure.

For instance, when my grown-up girls were babies, they each had a possession that they could not live without. Julianne had her baby doll; in good times and bad, she looked for this doll to carry with her. So much so that on vacation the doll made the short list of allowed items when traveling on a plane.

As most of you parents can relate to, this doll was critical to Julianne’s happiness, and therefore, a significant item for our much-needed sleep. In many ways, the piece of plastic with pretty little eyes mattered more to us than a good suitcase.

Taking the doll to Disneyworld turned out far riskier task than I envisioned. We inadvertently left the doll in the hotel room as we checked out and, after many frantic calls to the hotel, learned that it was nowhere to be found.

In typical Disney fashion, a package arrived a few days later with a small stuffed Mickey Mouse to ease Julianne’s pain. As much as my daughter loved Mickey, though, her true love remained missing.

Vanished toy, miserable child, busted nights: If you’re a parent, you can easily picture this.

We did what any sleep-deprived parents would do and headed to the toy store to find the same doll. Success (hard to believe, right?) and without hesitation we purchased not one but two of the same dolls. We kept the spare doll hidden just in case of another catastrophe of absent-mindedness. In financial advising, we call this contingency planning, or maybe a kind of emergency savings fund.

This toy mattered to her – and, as with most toddlers, she didn’t consider the favorite item interchangeable. You cannot substitute Mickey Mouse or anything else for a cherished doll.

Julianne, of course, now lives day to day without her doll. The things that matter most to all of us change as we grow and enter different stages of life.

In your 20s, your passion may be traveling or exploring different career paths. In your 30s, your heart may swell with thoughts of buying a home and beginning a family. Your 40s may see college expenses and helping your own parents as your dear causes.

Let’s hope that amid all these changing desires, you plan and save for your own retirement.

Determining what matters most to you matters a lot in turn to your financial planning – and in fact is the first step. Issues and challenges might be similar person to person, but your specific needs are paramount to making and monitoring the progress of your plan. You also address your needs in the order that you meet or feel them in your life.

So what do you value most and how are you going to pay for your future needs? Your answer starts you on the way to putting together the right money plan for the rest of your life.

Follow AdviceIQ on Twitter at @adviceiq.

Maureen Crimmins is the co-founder of Crimmins Wealth Management LLC in Woodcliff Lake, N.J. Her websites are www.CrimminsWM.com and www.RootsofWealth.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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Rising Rate Jitters: Why? http://millelacscountytimes.com/2015/08/24/rising-rate-jitters-why/ http://millelacscountytimes.com/2015/08/24/rising-rate-jitters-why/#comments Mon, 24 Aug 2015 13:01:56 +0000 http://millelacscountytimes.com/?guid=09d5d95da4b7dd86558716626edf0ffb The Federal Reserve may raise interest rates slightly this fall. But all in all, deflationary pressures, lower rates abroad and threats from a strong dollar do not portend sustained and significant Fed hikes.

Whenever there’s a hint of the Fed boosting rates, markets slump. In our view, stock and bond nervous nellies assume a case worse than reality. Plus, stock traders may see a small rise as a signal the economic fundamentals are stronger in the Fed’s eyes. On Wall Street, a negative can become a positive in an instant.

The guessing game of the summer is exactly when will the Fed raise its federal funds target rate from the 0% to 0.25% floor, where it has stayed since December 2008? Low interest rates have persisted since the financial crisis as the Fed primed our slower-than-average recovery with easy money. With early August reports of steady job gains, speculation is rising that the Fed may increase interest rates, possibly as early as September. What might that mean to you as an investor or borrower?

The fed funds rate is what banks pay to borrow funds overnight from the Fed to meet reserve requirements, the amounts they must hold to safeguard deposits. Banks apply the fed funds rate in determining all other short-term interest rates. In essence, our central bank may increase the cost of money.

This affects the prime rate (currently 3.25%), which banks charge their most creditworthy customers, and rates charged on bank loans, credit cards and adjustable-rate mortgages. It also influences the rates paid on savings and checking account deposits. Longer-term interest rates are indirectly influenced, as rising short-term rates pressure yields of longer maturity securities, such as the 10-year U.S. Treasury note.

The current level is as low as the fed funds rate can go. Toward the end of the stagflationary 1970s, then-Fed Chairman Paul Volcker boosted the fed funds rate to 20% to fight inflation. The prime rate peaked at 21.50%, an all-time high, from Dec. 19, 1980, through Jan. 2, 1981. We are not likely to see anything like that any time soon. Far from it.

Normally, the Fed increases the cost of money to tame inflation. This time the call is for “normalization,” the idea that abnormally low interest rates are distorting the economy and it’s time to get back to normal, restoring market forces and backing off from easy money. Making borrowing almost free spurs risk taking and the potentially unwise use of debt financing. Conservative savers are penalized by yields that in many cases are negative, adjusted for inflation and taxes.

Rising interest rates pressure fixed income investments as bond prices in general move inversely to increases or decreases in interest rates. The so- called bond vigilantes watch the yields on two- and 10-year Treasury paper, in particular.

Right now, two-year notes sport a yield of 0.62%; 10-year notes, 2.05%.

Speculation centers around a potential quarter percentage point increase in the fed funds rate. However, there is little potential for rates in general to shoot higher.

Inflation continues below the Fed’s target rate of 2%. The trailing one-year core inflation rate is running at 1.8%, with all-items inflation far less than that. Yes, core inflation numbers omit food and energy, and while gas prices are tamer, drug and tuition prices and a few other things you use are rising in price, but we are talking about government statisticians who live in an alternate universe.

As an inflation hedge, gold is tarnished, having dropped to around $1,100 lately from a high in September 2011 of $1,921. Depressed gold prices signal expectations of low inflation and a strong dollar.

The municipal bond traders at Belle Haven Investments in Rye Brook, NY, note 17 developed nations with 10-year yields on government paper lower than America’s. Eight nations offer yields less than 1%, making U.S. yields over 2%, along with a strong credit rating, relatively attractive, spurring dollar strength.

The strong dollar is a bonanza for tourists headed abroad, but the stock market is not enthusiastic. A little less than 40% of Standard & Poor’s 500 corporate revenues come from overseas, and the bulked-up greenback makes our products less competitive in world markets. Plus, domestic firms have to compete against cheaper imports, pressuring profit margins.

None of this portends a need for much higher interest rates in the U.S.

Follow AdviceIQ on Twitter at @adviceiq.

Lewis Walker, CFP, is president of Walker Capital Managemen, LCC in Peachtree Corners, Ga. Securities and certain advisory services offered through The Strategic Financial Alliance Inc. (SFA). Lewis Walker and Mike Hostetler are registered representatives of the SFA, which is otherwise unaffiliated with Walker Capital Management. 770-441-2603. lewisw@theinvestmentcoach.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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The Federal Reserve may raise interest rates slightly this fall. But all in all, deflationary pressures, lower rates abroad and threats from a strong dollar do not portend sustained and significant Fed hikes.

Whenever there’s a hint of the Fed boosting rates, markets slump. In our view, stock and bond nervous nellies assume a case worse than reality. Plus, stock traders may see a small rise as a signal the economic fundamentals are stronger in the Fed’s eyes. On Wall Street, a negative can become a positive in an instant.

The guessing game of the summer is exactly when will the Fed raise its federal funds target rate from the 0% to 0.25% floor, where it has stayed since December 2008? Low interest rates have persisted since the financial crisis as the Fed primed our slower-than-average recovery with easy money. With early August reports of steady job gains, speculation is rising that the Fed may increase interest rates, possibly as early as September. What might that mean to you as an investor or borrower?

The fed funds rate is what banks pay to borrow funds overnight from the Fed to meet reserve requirements, the amounts they must hold to safeguard deposits. Banks apply the fed funds rate in determining all other short-term interest rates. In essence, our central bank may increase the cost of money.

This affects the prime rate (currently 3.25%), which banks charge their most creditworthy customers, and rates charged on bank loans, credit cards and adjustable-rate mortgages. It also influences the rates paid on savings and checking account deposits. Longer-term interest rates are indirectly influenced, as rising short-term rates pressure yields of longer maturity securities, such as the 10-year U.S. Treasury note.

The current level is as low as the fed funds rate can go. Toward the end of the stagflationary 1970s, then-Fed Chairman Paul Volcker boosted the fed funds rate to 20% to fight inflation. The prime rate peaked at 21.50%, an all-time high, from Dec. 19, 1980, through Jan. 2, 1981. We are not likely to see anything like that any time soon. Far from it.

Normally, the Fed increases the cost of money to tame inflation. This time the call is for “normalization,” the idea that abnormally low interest rates are distorting the economy and it’s time to get back to normal, restoring market forces and backing off from easy money. Making borrowing almost free spurs risk taking and the potentially unwise use of debt financing. Conservative savers are penalized by yields that in many cases are negative, adjusted for inflation and taxes.

Rising interest rates pressure fixed income investments as bond prices in general move inversely to increases or decreases in interest rates. The so- called bond vigilantes watch the yields on two- and 10-year Treasury paper, in particular.

Right now, two-year notes sport a yield of 0.62%; 10-year notes, 2.05%.

Speculation centers around a potential quarter percentage point increase in the fed funds rate. However, there is little potential for rates in general to shoot higher.

Inflation continues below the Fed’s target rate of 2%. The trailing one-year core inflation rate is running at 1.8%, with all-items inflation far less than that. Yes, core inflation numbers omit food and energy, and while gas prices are tamer, drug and tuition prices and a few other things you use are rising in price, but we are talking about government statisticians who live in an alternate universe.

As an inflation hedge, gold is tarnished, having dropped to around $1,100 lately from a high in September 2011 of $1,921. Depressed gold prices signal expectations of low inflation and a strong dollar.

The municipal bond traders at Belle Haven Investments in Rye Brook, NY, note 17 developed nations with 10-year yields on government paper lower than America’s. Eight nations offer yields less than 1%, making U.S. yields over 2%, along with a strong credit rating, relatively attractive, spurring dollar strength.

The strong dollar is a bonanza for tourists headed abroad, but the stock market is not enthusiastic. A little less than 40% of Standard & Poor’s 500 corporate revenues come from overseas, and the bulked-up greenback makes our products less competitive in world markets. Plus, domestic firms have to compete against cheaper imports, pressuring profit margins.

None of this portends a need for much higher interest rates in the U.S.

Follow AdviceIQ on Twitter at @adviceiq.

Lewis Walker, CFP, is president of Walker Capital Managemen, LCC in Peachtree Corners, Ga. Securities and certain advisory services offered through The Strategic Financial Alliance Inc. (SFA). Lewis Walker and Mike Hostetler are registered representatives of the SFA, which is otherwise unaffiliated with Walker Capital Management. 770-441-2603. lewisw@theinvestmentcoach.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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Inmates provide value through Sentence to Serve program http://millelacscountytimes.com/2015/08/23/inmates-provide-value-through-sentence-to-serve-program/ http://millelacscountytimes.com/2015/08/23/inmates-provide-value-through-sentence-to-serve-program/#comments Mon, 24 Aug 2015 02:12:23 +0000 http://millelacscountytimes.com/?p=113122 Jail inmates from Mille Lacs and Sherburne counties help government and not-for-profit entities save money at the same time they shorten their own sentences.
The respective sheriff’s office of each county administers the Sentence to Serve program, which offers year-round work crews who work for free and do a number of different jobs.

A judge must approve an offender to work on the STS crews, and the offender cannot have committed a crime of violence or against a human. The inmate must agree to participate in the program, and most do because for each day of work they do, they receive a day’s worth of credit to time served.

The crews provide all kinds of different services, depending on what the requesting entity needs, but typical jobs include things like shoveling snow, removing buckthorn and unwanted growth, painting, cleaning, maintaining public parks and trails, removing graffiti, picking up trash off roadsides and other public areas, chopping firewood, plant trees, removing debris after storms, setting up or breaking down for special events, maintaining ice arenas, assembling equipment and more.

People call their respective county to arrange for STS services, and a right-sized crew and its supervisor arrive by van and work for however many hours or days the project requires. Each county provides the crews with the necessary tools and, sometimes, training they need to do the jobs. The Department of Corrections also offers a Sentence to Serve programs with crews for a small charge.

STS services are available to government entities and nonprofit organizations located within either county but not to private business or residents.

Mille Lacs County
Lt. Jerry Brown is the assistant jail administrator in Mille Lacs County and helps run the STS program. He said STS services have been available in Mille Lacs County for at least 10 years and that before an inmate can participate in STS, their criminal history and current charges are scrutinized closely.
He said the size of the crew that goes out on the job depends on the size of the job, but the average number is about three people, with groups as big as seven or eight inmates. He said the crews are self-sufficient and bring their own trailer, equipment, supplies, protective clothing and, if needed, a bag lunch.

The Mille Lacs crews have done work at the Family Pathways store, various cleanup jobs in Princeton, at the fairgrounds during and after the fair, at local schools, for other county entities, for Milaca’s little-league park and many others.

“They do a lot of snow removal in the winter,” Brown said.

The inmate crews participate in the county’s cleanup day, helping people unload items from their vehicle. Brown said they go out twice a year to Lake Mille Lacs to put buoys out and pull them back in, as well as do light maintenance and janitorial jobs, such as polishing floors. Crews also have painted lines in parking lots.

STS participants learn about work ethic and sometimes receive on-the-job training to acquire new skills. Brown said sometimes the people are placed on jobs according to their existing skills or knowledge.
He said, “Some are very good workers and others need some coaching and mentoring,” which crew supervisor Mike Ackerman provides.

Brown said that feedback about the STS services is almost always positive from both the crew members and the service recipients. People appreciate the services and sometimes say they don’t know how else they could have completed the project.

Anyone interested in STS services should contact Ackerman at the Mille Lacs County Sheriff’s Office, 320-983-8250.
Sherburne County

Sherburne County Jail program coordinator Mark Fritel and community work-service agent Heide Arbuckle said the STS program there started around the early 1990s. They explained that the STS team members might include teams of qualified in-custody inmates, out-of-custody inmates ordered to do community service or juveniles.

Fritel said the typical crew size is about six to eight people, and the crews never exceed 10 people. Arbuckle said the crews stay busy and the workload is rather seasonal with a lot of snow removal in the winter, maintenance in the spring, raking and cleanup in the fall, and all kinds of projects throughout the summer.

She said the Sherburne County crews have also done work at the Family Pathways store in Princeton, which sits right on the county line, and cleaned and painted at the Princeton Ice Arena. They also help regularly at the Sherburne National Wildlife Refuge doing trail maintenance, sign work and other jobs. Arbuckle said that STS crews helped Baldwin Township with boardwalks in Young Park.

Other examples of the work STS crews do or have done: Install erosion-control measures around Lake Fremont in Zimmerman, clean up and prepare the state’s Ann Lake Campground, help with the county fair and Zimmerman’s Wild West Days festival, install fencing, remove brush, spruce up parks, do maintenance at the Elk River Ice Arena, do farm duties for the Minnesota Hooved Animal Rescue, and more.

“We have been heavily involved in cemetery cleanup,” Fritel said.

Arbuckle and Fritel said Sherburne’s crew supervisors, Dave Veldhuizen and Jesse Kipka, do a great job in mentoring and teaching the crews. Fritel thinks that plays a big part in the program’s success and in the crew members learning new skills.

“We get tons of thank you letters and emails,” Arbuckle said about program feedback.

Fritel said reaction to the program is almost always positive, and he thinks many entities have come to rely on the crews for certain kinds of projects, especially in an age of post-recession budgets, elusive grant dollars and rising costs.

In 2014, Sherburne County had a total of 349 inmates approved to participate in STS, about 100 more than the previous year. Statistics shared by Arbuckle and Fritel state the STS adult and juvenile crews together did about 15,839 hours of work. The county multiplies the total hours by $10 to reach the conclusion that Sherburne County inmates did approximately $158,390 worth of work last year.

Anyone interested in STS services in Sherburne County can contact either Fritel or Arbuckle, who say the STS program has a hotline on which people can leave a message about the services they need. That number is 763-765-3885. ]]> http://millelacscountytimes.com/2015/08/23/inmates-provide-value-through-sentence-to-serve-program/feed/ 0 Meet your neighbor: Dr. Nick Schuett http://millelacscountytimes.com/2015/08/23/meet-your-neighbor-dr-nick-schuett/ http://millelacscountytimes.com/2015/08/23/meet-your-neighbor-dr-nick-schuett/#comments Mon, 24 Aug 2015 02:07:41 +0000 http://millelacscountytimes.com/?p=113120 Dr. Nick Schuett

Dr. Nick Schuett

Dr. Nick Schuett started working at the dental office in Milaca right out of dental school in 2012 and recently took over the practice, now known as Milaca Family Dental.
Originally from Shoreview, Dr. Schuett has always known he wanted to be a dentist. He began his education with a biology degree from the University of Minnesota Morris. Later, he attended the University of Minnesota School of Dentistry and now lives outside of Princeton with his wife and two young children, Bennett and Lydia.

Living in the small town of Morris during college inspired Dr. Schuett to begin his career in a similar town. “It opened my eyes to look into a community like Milaca. I found a lot of similarities between Morris and Milaca.”

He says he really enjoys the small-town atmosphere and the mixture of agriculture and industry in Milaca. He enjoys the old-fashion downtown and family-owned businesses and wants to see small towns, especially in Minnesota, continue to thrive. “[It] intrigues me to rejuvenate [and] carry that aspect of small town life on by serving as a dentist in [this] type of community,” he said.

Further, Dr. Schuett thinks there’s something different about working in a small town that makes it special. “In a community like Milaca you get to know your patients. You see your patients every six months or a year. You get to see kids grow up. One thing that I don’t think you get down in the Twin Cities is you don’t get those interpersonal relationships,” said Dr. Schuett.

Dr. Schuett likes to spend his spare time hunting and fishing, as well as relaxing at a log house on Lake Mille Lacs he built with his father and brother. Since he has bought Milaca Family Dental, he hopes to soon relocate his family to the countryside in Milaca. ]]> http://millelacscountytimes.com/2015/08/23/meet-your-neighbor-dr-nick-schuett/feed/ 0 Brown takes over Cathedral boys’ hockey program http://millelacscountytimes.com/2015/08/22/brown-takes-over-cathedral-boys-hockey-program/ http://millelacscountytimes.com/2015/08/22/brown-takes-over-cathedral-boys-hockey-program/#comments Sun, 23 Aug 2015 02:02:49 +0000 http://millelacscountytimes.com/?p=113118 Derrick Brown may have had a real good situation as a teacher and head hockey coach with the Luverne Cardinals, but the opportunity to become the new St. Cloud Cathedral boys’ hockey coach was simply too good to pass up.

Brown confirmed last week that he’s leaving Luverne, a small city situated in southwestern Minnesota, for the coaching and high school social studies teacher position at Cathedral.

He takes over from Eric Johnson, who resigned as the boys’ hockey coach and teacher.

“It’s a good move location-wise,” said Brown, whose parents Wally and Elaine live in Milaca. “Cathedral is a really good school and program, so it just felt right.”

Brown was highly successful at Luverne, leading the Cardinals to their first-ever state tournament appearance in 2014. That same year, Brown was named the winner of the John Mariucci Award as the Class “A” hockey coach of the year.

Last season, Luverne posted an impressive 21-4 record.

“It’s a big change, I was in Luverne for six years,” said Brown, who graduated from Princeton High School back in 2004. “Obviously, for me, I went to high school in Princeton and now I’m going to see some familiar schools again and get back to playing teams that I used to recognize in high school.

“It will be a drastic change because I’m going from the southwest corner of Minnesota to central Minnesota – but I’m excited about it.”

Brown admits he is taking over a Cathedral boys’ hockey program that was very successful under the guidance of Johnson.

“I have some big shoes to fill,” Brown admitted. “Eric Johnson was there for 10 years (leading the Crusaders to a 195-76-9 record) and they’re a top-15 program, always a state-tournament contender. It’s a very good program and that’s what excites me about this opportunity.

“I’m just going to try to continue with the tradition that he’s built here.”

As a player, Brown, a talented defenseman, led the Tigers to the 2001-02 and 2002-03 state tournaments and was captain of the 2003-04 squad.

He is a Milaca native who transferred to Princeton to play hockey. Brown played hockey as a youngster until his parents moved to the Milaca area. He wanted to continue playing hockey, but Milaca didn’t have a hockey program.

That was a bold move making the short trip south down Hwy 169 to play high school hockey for a Milaca rival. He hopes this latest decision is just as successful.

“We have more of a veteran group (at Cathedral) and a good core of seniors,” explained Brown, who played college hockey at St. Mary’s in Winona. “When these seniors were sophomores, they were at the state tournament when I took Luverne there in 2014.

“There’s good leadership, I’ve already had their captain call me and introduce himself and other kids have texted me and welcomed me to the Crusaders’ family.

“I can tell that I’m taking over a program that they are very, very proud of.” ]]> http://millelacscountytimes.com/2015/08/22/brown-takes-over-cathedral-boys-hockey-program/feed/ 0 First National Bank hosting events for 118th anniversary http://millelacscountytimes.com/2015/08/22/first-national-bank-hosting-events-for-118th-anniversary/ http://millelacscountytimes.com/2015/08/22/first-national-bank-hosting-events-for-118th-anniversary/#comments Sun, 23 Aug 2015 02:00:57 +0000 http://millelacscountytimes.com/?p=113080 There’s a big birthday party planned for Second Ave. SW on Friday, Aug. 21.

The First National Bank of Milaca is turning 118, and its inviting you to help one of Milaca’s oldest businesses to celebrate.

The bank, located at 190 Second Ave. SW, is hosting two parties on August 21 – an event for its Kids Club members and a street dance for adults.

The children’s event is from 5-7 p.m. It has a safari theme this year, said the bank’s event planner, Tracy Otten.

“There will be games, free hot dogs and more,” Otten said. There is a kid’s dance planned during the event, she said.

There will also be a safari costume contest with prizes for the winners.

For the adults, the Marshall Star Band will take to a stage in front of the bank from 7-11 p.m.

Marshall Star Band is a country band with three strong vocalists, steel/fiddle, piano, and lead guitar.
Concessions will be available during the street dance. A drawing for cash prizes will also be held, so it’s one street party you won’t want to miss.

“This is a community celebration, so everyone is invited to attend,” Otten said.

The bank was first organized in 1897 by Merrit M. Ring. A brick bank building was demolished by an explosion caused by burglars. A new bank was built and went by the names Mille Lacs County Bank, Farmers State Bank, and then the First National Bank of Milaca.

In 1907 J.A. Allen took over as manager of the bank. In the 1920s, his son Burton P. Allen joined the business. His son Burton P. Allen Jr., known in the community as Pete, joined his father in managing the bank in 1956.

The bank moved to its present location at 109 Second Ave. SW in 1961. ]]> http://millelacscountytimes.com/2015/08/22/first-national-bank-hosting-events-for-118th-anniversary/feed/ 0 Teen snorts meth mistaken for coke http://millelacscountytimes.com/2015/08/22/teen-snorts-meth-mistaken-for-coke/ http://millelacscountytimes.com/2015/08/22/teen-snorts-meth-mistaken-for-coke/#comments Sun, 23 Aug 2015 02:00:41 +0000 http://millelacscountytimes.com/?p=113069 A Milaca man is facing criminal charges after giving a 16-year-old Isle teen methamphetamine.

But Evan W. Anderson mistakenly told the boy the drugs he gave him in the parking lot of an Isle grocery store was cocaine.

That means than when the boy snorted the drug, he was unaware of what he was ingesting into his body.
Anderson, 27, of Milaca, is charged in Mille Lacs County District Court with a felony count of permitting a child to ingest methamphetamine and fifth-degree drug possession. Both are felonies punishable by a maximum of five years and a $10,000 fine.

The situation first came to light when the boy’s grandfather called Isle Police after he found a white powder he suspected belonged to his grandson. The grandson had told the man there was marijuana and cocaine in a bottle that was handed over to police.

The substance, however, field-tested positive for methamphetamine.

Officers interviewed the teen, who stated that he received the drugs around mid-June.

He allegedly saw Anderson, whom he knew from mutual friends, in the grocery store parking lot, according to a criminal complaint filed in Mille Lacs County District Court. The teen said he made contact with Anderson, from whom he got drugs two or three times in the past. Anderson allegedly gave him a baggie containing the white substance. Anderson allegedly told the teen that the substance was crack. He also allegedly told the teen that he would not have to pay for the drugs. The teen told officers that he used about half of what was in the baggie and that he had snorted the substance.

Anderson is scheduled to make his first court appearance on Sept. 3.

Denham facing drug charges
Tyler A. Denham, 18, of Milaca, has been charged with drug possession after being found with the class II controlled substance Adderall without a prescription.

Denham was at a Princeton gas station at 2:56 a.m. Aug. 12 when he caught attention of police, who thought he might be violating the city’s curfew ordinance. A clerk at the gas station accused Denham of stealing merchandise from the store. A search of Denham revealed the pills. He was transported to the Mille Lacs County Jail. ]]> http://millelacscountytimes.com/2015/08/22/teen-snorts-meth-mistaken-for-coke/feed/ 0