"
Newspaper Archive of
Journal Opinion
Bradford , Vermont
Lyft
January 13, 1982     Journal Opinion
PAGE 16     (16 of 16 available)        PREVIOUS     NEXT      Full Size Image
 
PAGE 16     (16 of 16 available)        PREVIOUS     NEXT      Full Size Image
January 13, 1982
 

Newspaper Archive of Journal Opinion produced by SmallTownPapers, Inc.
Website © 2022. All content copyrighted. Copyright Information.     Terms Of Use.     Request Content Removal.




i Page 8A-The Second Opinion-January 13, 1982 FARM INCOME TAXES PREPARED FARM CREDIT SERVICE 34 Taft Ave., White River Jct., Vt. Phone 295-9127 ANNUtA L CLEARAN SALE MEN'S WEAR DOMESTICS LADLES APPAREL GIFTS Open Daily 9.'30-5.'00 ... Fri * A new place .for every", 00hmg Prices Slasheff on New designs and styles, once and quality of material , a chite, utural motifs of previous frantic or exuberant, illlller of personal tasle--and described as sleek, s(,||lin|enh|l attachment, a c(nlu|'ies. sll'eam/ined, pure. functional, sense of continuity ,'ith the )n tht: other halle, con- dishonest or ingenious, pei'speclive. are seth today b son,ccritics trust-these arc the lements v(nience andcomfort were far The hottest thing on snow.! and consumers" as boring, people mention when asked mort important to the Vic-  ........... h,a lureless, mechanical-:or ,imply ohl hat. The appeal of orl|a nlent at toil, all ap- JANUARY 14 RETIREMENT PLANNING Second of Five Parts THE. NEWLY RESTYLED A itM A iFI AND THE BRAND NEW 00CELEBR.IT00. why they have chosen a torians than historical ac- Viclorianhomeoroffice. curacy, The new art of (;oode also points to two uplmlslery-born of the in- hmdnmrk exhibitions--one in vention of powered fabric 19GO at the Brooklyn Museum looms and the coil and another l0 years later at spring-encouraged Ne' York's Met- Ilallooning, cushioned forms ropolitan- which forced xt seen before. The sofa and collectors, dealers and design overstuffed chair came into historians to lake a second their own- along with foot- I(x)k at their image of Vic- shn)ls, ottomans, meridien- to|'iana. Continued study over nes, love seals and S-shaped the past 20 years has in- tete-a-tetes. All were creased the store of luxurious, comfortable--and knowledge in such areas as suitable settings for construction techniques, the languishing Romantic identity and history of specific heroines. cabinetmakers, the correct A tremendous variety of allrihulion of pieces, design was apparent in ar- l':xploralion on this frontier, chiteclure as well. A 275-year- Goede says, has only just old ideal of symmetrical hegun, simplicily was rejected for a ()nee the Victorian era in America btwame fit for study, it became apparent that the jmuble was understandable after all-but on its own terms. In every era, Americans' aesthetic choices have heen shaped by their view of themselves and of the world in which they lived. Eighteenth-century leaders saw themselves as the inherilors of the austere. rational, classical virtues of ancient Greece and Rome. The "Victorian" Americans, children of the industrial revolution, increasingly en- visioned themselves as a totally new society, a democratic nation of in- dividualists in a land of op- portunity where hard work was rewarded and the measure of a man was not in his birth but in his successful enterprise. The 19th-century American home, inside and out, was intended to express the in- dividuality of the owner, to display the family's pride in its accomplishments and its aspirations for the future. l)emocralic pride, however, did not conflict with a desire to imitate the taste of con- temporary European aristocracy: it was hardly surprising that successful first-generation immigrants would wish to re-create the symbols of wealth and power and styles they remembered from their homelands. Middle- and working-class folk wanted their own versions all, from Ihe prosperous nwrchanl commissioning a solid mahogany parlor suite to the factor)' hand choosing a mass-produced painted pine chair. Unlike lSth-century furniture, crafted in a tradition li(lle changed in 2,000 years, Vietnrian furniture was the product of a mechanized age. Even cabinetmakers who served the wealthiest patrons relied to a degree on the latest inventions -power saws, veneering and shaping techniques, The individual craftsman-designer was in the main replaced by the ma nufact urer-upholsl erer. lie gave Victorian housewive plenly to choose fronJ. At h,asl a dozen fur- nilure styles developed and confinu(l to coexist in eclectic harnlony or cuunterpoint. For example, a cabinel presented to singer denny Lind by New Yn'k ('ity firemen combined l1izabelhan, Rococo and Renaissance elements. As Ihese names indicate, most of the styles were historical revivals, free and sometimes wildly inaccurate adaptalions "pictures(iue'" style that was purposefully irregular. In lS,d), New York landscape- architect, author, taste-maker A.J. Downing spoke for his lime when he described the period as "the experimental stage of . . . taste, With the passion for novelty, and the feeling of independence that belong to this country, our people seem to be determined lo try everything." And, with the help of the upholsterers, they did. A Gothic house might have a Norman hall, Elizabethan chambers, a Rococo drawing room and a Renaissance dining room, boasting of new types of furniture--whatnots, etageres, jardinieres, brackets, encoigneurs--that provided the shelf space necessary to display a host of articles calculated to reflect tho family's history, taste and int crest s. The housewife took pride in displaying personal mementoes, elaborate silver Ior plate): figurines in por- celain (or plaster); toilet articles in mother of pearl (or papier mache), desk sets, smoking sets, books, bibelots, photographs, handcrafts--and carefully tended houseplants. All this was tastefully arranged against a hackground of figured car- pet-what one critic described as "dangerous labyrinths of Rococo ornament"--drapery and-or wallpaper, doubled and redoubled in ornamental mirrors. appear, the Victorian house,'ire would never have admitted to disorder. "A place for everything and everything in ils place" was her motto. She simply wanted a great ninny things and a great many places in which to put them. Still, by the end of the century, ninny rooms were obstacle eonrses and parlor maid's night mares. The reaction began as early as the 187(h, when reformers rote scathing and vivid conden|nations of con- temporary taste. England's ('harles Easllake in many ways spoke for five generations of future critics when he descrihed Victorian furnishings as vulgar, degenerate, degraded and dishonest, "(rely fit Io be burnt for firew(x)d?" The very best, he declared, "will not survive Ihe present generation." As ofh, n happens, time has conh)unded prediction. It is true after all :and a guiding I)rinciple of Victorian aeslhelie theory--that beauty is ill the eye of Ihc beholder. Amt whelhe|" e now describe SRVING5 ON FRMILY FR00EIN5 Make a fantastic buy at our clear-the- racks sale . SLACKS . SKIRTS . BLOUSES such famous brands as Queen Casuals, Fire Island & Pandora ISLEEPwEAR 2( _ _2 Q%_ _0 F F / 15% OFF ON ALL See These Excitin Cars At SWEATERS CONNIES Ruth B. Clements, Prop, Bradford, Vt. Phone 2.5Z0 RETIREMENT RECEPTION for DR. FRANCES OLSEN East Corinth, Vt. on January 17 from 2 to 5 at the Masonic Hall. Donations for a gift may be sent to Mrs. Bert Holland, East Corinth, Vt. 05040. Your Community Event Advertised Here Is Only $10.00 Valley Health Center East Corinth, Vt. will be open Tuesday and Friday mornings from 8 to 12 beginning January 10, at which time Dr. Osadchey will see patients. For appointments call 802-222-9317 and ask for VALLEY HEALTH CENTER AP- POINTMENTS. SNOWMOBILES 1981 MODELS INVADER LTD 41e - -- Reg. $3599 NEW INTRUDER 440 t, DRFTER 440 $ 1980 MODELS 1 $ F-ulWarranteed For 2 Seasons" I : C()MESE[ ...... COME SAVE. NOTES & COMMENTS Life is your own affair. You can make yours almost anything you wish, if you will only do it. INTERESTING FAq ,"T A picnic lunch is good idea for a family large jug of plain cold will be appreciated by all. i You Any American who's been on the planet Earth for the past few months and is interested in personal finance has probably heard something about IRAs. For more details, read on. IRA stands for Individual Retirement Account, three little words that are destined tO revolutionize how Americans save and plan for their retirement. The new rules governing IRAs go into effect Janu- an/ 1, 1982. This will mark the first time that these tax-sheltered IRAs 11 be available to all wage- earners. In the past, only those who were not cov- ered by company pension plans were able to open IRAs and take advantage of their tax benefits. Most of what you've been reading probably talks , about contributing $2,000 a year to an IRA. If you stopped reading when you saw the $2,000 figure, get ready to reconsider. You don't need to contribute $2,000 a year to an IRA. That amount is the maximum you can contrib- ute in any given year. The first article in this series discussed how you could retire with $1 million if you saved $2,000 a year. Let's look at what you can expect if your financial situation doesn't allow you to save that much money. Many of us, if we really tried, could cut back our spending by $10 a week. (Maybe it means not going out one night or packing a lunch two days a week, but we could do it.) Actually, if you could save $9.62 a week, you could be saving $500 a year to contribute to your Individual Retirement Account, and $19.23 per week would allow a $1,000 per year contribution. A yearly contribution to your IRA of just $500 could result in an account worth more than $400,000 in 40 years. If you find that hard to believe, figure it out for yourself. For the purpose of this example, use a 12 percent simple interest rate compounded annually. Start with $500, multiply by 12 percent for one year, which is $60 in interest. For year two, add your $500 contribution to the $560 in the account from year one and multiply by 12 percent. Your second-year inter- est is $127.20 and your account now totals $1,187.20. Continue this calculation and you will findthat after 25 years you will have contributed $12,500 and your account will total $74,667. The interest alone will be over $62,000..  _ [ If you work 30 years, your account could reach $135,146, and 40 years brings you to $429,571. And remember, whatever your contribution, your IRA provides a tax shelter for that money. Your con- tribution is deducted from your gross income before you figure your taxes. The money cannot be with- drawn, without penalty, until you reach age 59. However, you may keep the money in until age 70. Then yo u must begin to withdraw it in specific amounts that will be based on life-expectancy tables and a percentage of the total amount in your account. Any money you withdraw after age 59 will be taxed at the prevailing rate. Presumably you will be in a lower tax bracket in your retirement years. Can you really afford not to have an Individual Retirement Account? The American Bankers Association offers the fol- lowing sample IRA chart. Clip this chart and this story and use them to help plan your IRA. Take the chart with you when you talk to your community banker about how much you could afford to set aside for your future--and then don't put it off any longer. What- ever you have to give up to save $9.62 a week now will be worth it when you retire. Coming Next:. IRA Benefits For Couples ....... Clip and Save SAMPI.:E iNDIVIDUAL RETIREMENT ACCOUNT* (Interest Rate: 12% Compounded Annually. All figures are rounded to the nearest dollar.) Your IRk, Account $500 ll,000 at the end Annual Annual of Year Contdbutn 1 $ 560 $ 1,120 5 3,558 7,115 10 9,827 19,655 15 20,877 41,753 20 40,349 80,9 25 74,667 149,334 30 135,146 " 270,290 35 241,732 483,46,3 40 429,571 859,142 "Source: American Bmklm Ammilon Based on the ctmunt approximate yteld of 12% for 30-mon cer- cates of deposlt. This rate ts not Intended to be a atement of the actual interemt rate available or guaranteed end financal recur. PLAN NOW FOR TOMORROW! We would like to help you make a most important decision. See us for further information or questions you may have and don't miss the next installment of this valuable series. DUN'T/ ists in n u down i are taiv Town 9f co Lasolls, ever t (n mall, l, 'eas fo (ediate, anager rking kestl "sttt ; t ee the t all  c., tl elope =-u-ma( d a ledation. tea, we a was lliam I I I *% BRADFORD NATIONAL BANK Bradford 222-5231 Fairlee 333,4379 Thettord 785-2112 Newbury 866-5672 .cb "Our Middle Name Is National" MEMBER ! / i Page 8A-The Second Opinion-January 13, 1982 FARM INCOME TAXES PREPARED FARM CREDIT SERVICE 34 Taft Ave., White River Jct., Vt. Phone 295-9127 ANNUtA L CLEARAN SALE MEN'S WEAR DOMESTICS LADLES APPAREL GIFTS Open Daily 9.'30-5.'00 ... Fri * A new place .for every", 00hmg Prices Slasheff on New designs and styles, once and quality of material , a chite, utural motifs of previous frantic or exuberant, illlller of personal tasle--and described as sleek, s(,||lin|enh|l attachment, a c(nlu|'ies. sll'eam/ined, pure. functional, sense of continuity ,'ith the )n tht: other halle, con- dishonest or ingenious, pei'speclive. are seth today b son,ccritics trust-these arc the lements v(nience andcomfort were far The hottest thing on snow.! and consumers" as boring, people mention when asked mort important to the Vic-  ........... h,a lureless, mechanical-:or ,imply ohl hat. The appeal of orl|a nlent at toil, all ap- JANUARY 14 RETIREMENT PLANNING Second of Five Parts THE. NEWLY RESTYLED A itM A iFI AND THE BRAND NEW 00CELEBR.IT00. why they have chosen a torians than historical ac- Viclorianhomeoroffice. curacy, The new art of (;oode also points to two uplmlslery-born of the in- hmdnmrk exhibitions--one in vention of powered fabric 19GO at the Brooklyn Museum looms and the coil and another l0 years later at spring-encouraged Ne' York's Met- Ilallooning, cushioned forms ropolitan- which forced xt seen before. The sofa and collectors, dealers and design overstuffed chair came into historians to lake a second their own- along with foot- I(x)k at their image of Vic- shn)ls, ottomans, meridien- to|'iana. Continued study over nes, love seals and S-shaped the past 20 years has in- tete-a-tetes. All were creased the store of luxurious, comfortable--and knowledge in such areas as suitable settings for construction techniques, the languishing Romantic identity and history of specific heroines. cabinetmakers, the correct A tremendous variety of allrihulion of pieces, design was apparent in ar- l':xploralion on this frontier, chiteclure as well. A 275-year- Goede says, has only just old ideal of symmetrical hegun, simplicily was rejected for a ()nee the Victorian era in America btwame fit for study, it became apparent that the jmuble was understandable after all-but on its own terms. In every era, Americans' aesthetic choices have heen shaped by their view of themselves and of the world in which they lived. Eighteenth-century leaders saw themselves as the inherilors of the austere. rational, classical virtues of ancient Greece and Rome. The "Victorian" Americans, children of the industrial revolution, increasingly en- visioned themselves as a totally new society, a democratic nation of in- dividualists in a land of op- portunity where hard work was rewarded and the measure of a man was not in his birth but in his successful enterprise. The 19th-century American home, inside and out, was intended to express the in- dividuality of the owner, to display the family's pride in its accomplishments and its aspirations for the future. l)emocralic pride, however, did not conflict with a desire to imitate the taste of con- temporary European aristocracy: it was hardly surprising that successful first-generation immigrants would wish to re-create the symbols of wealth and power and styles they remembered from their homelands. Middle- and working-class folk wanted their own versions all, from Ihe prosperous nwrchanl commissioning a solid mahogany parlor suite to the factor)' hand choosing a mass-produced painted pine chair. Unlike lSth-century furniture, crafted in a tradition li(lle changed in 2,000 years, Vietnrian furniture was the product of a mechanized age. Even cabinetmakers who served the wealthiest patrons relied to a degree on the latest inventions -power saws, veneering and shaping techniques, The individual craftsman-designer was in the main replaced by the ma nufact urer-upholsl erer. lie gave Victorian housewive plenly to choose fronJ. At h,asl a dozen fur- nilure styles developed and confinu(l to coexist in eclectic harnlony or cuunterpoint. For example, a cabinel presented to singer denny Lind by New Yn'k ('ity firemen combined l1izabelhan, Rococo and Renaissance elements. As Ihese names indicate, most of the styles were historical revivals, free and sometimes wildly inaccurate adaptalions "pictures(iue'" style that was purposefully irregular. In lS,d), New York landscape- architect, author, taste-maker A.J. Downing spoke for his lime when he described the period as "the experimental stage of . . . taste, With the passion for novelty, and the feeling of independence that belong to this country, our people seem to be determined lo try everything." And, with the help of the upholsterers, they did. A Gothic house might have a Norman hall, Elizabethan chambers, a Rococo drawing room and a Renaissance dining room, boasting of new types of furniture--whatnots, etageres, jardinieres, brackets, encoigneurs--that provided the shelf space necessary to display a host of articles calculated to reflect tho family's history, taste and int crest s. The housewife took pride in displaying personal mementoes, elaborate silver Ior plate): figurines in por- celain (or plaster); toilet articles in mother of pearl (or papier mache), desk sets, smoking sets, books, bibelots, photographs, handcrafts--and carefully tended houseplants. All this was tastefully arranged against a hackground of figured car- pet-what one critic described as "dangerous labyrinths of Rococo ornament"--drapery and-or wallpaper, doubled and redoubled in ornamental mirrors. appear, the Victorian house,'ire would never have admitted to disorder. "A place for everything and everything in ils place" was her motto. She simply wanted a great ninny things and a great many places in which to put them. Still, by the end of the century, ninny rooms were obstacle eonrses and parlor maid's night mares. The reaction began as early as the 187(h, when reformers rote scathing and vivid conden|nations of con- temporary taste. England's ('harles Easllake in many ways spoke for five generations of future critics when he descrihed Victorian furnishings as vulgar, degenerate, degraded and dishonest, "(rely fit Io be burnt for firew(x)d?" The very best, he declared, "will not survive Ihe present generation." As ofh, n happens, time has conh)unded prediction. It is true after all :and a guiding I)rinciple of Victorian aeslhelie theory--that beauty is ill the eye of Ihc beholder. Amt whelhe|" e now describe SRVING5 ON FRMILY FR00EIN5 Make a fantastic buy at our clear-the- racks sale . SLACKS . SKIRTS . BLOUSES such famous brands as Queen Casuals, Fire Island & Pandora ISLEEPwEAR 2( _ _2 Q%_ _0 F F / 15% OFF ON ALL See These Excitin Cars At SWEATERS CONNIES Ruth B. Clements, Prop, Bradford, Vt. Phone 2.5Z0 RETIREMENT RECEPTION for DR. FRANCES OLSEN East Corinth, Vt. on January 17 from 2 to 5 at the Masonic Hall. Donations for a gift may be sent to Mrs. Bert Holland, East Corinth, Vt. 05040. Your Community Event Advertised Here Is Only $10.00 Valley Health Center East Corinth, Vt. will be open Tuesday and Friday mornings from 8 to 12 beginning January 10, at which time Dr. Osadchey will see patients. For appointments call 802-222-9317 and ask for VALLEY HEALTH CENTER AP- POINTMENTS. SNOWMOBILES 1981 MODELS INVADER LTD 41e - -- Reg. $3599 NEW INTRUDER 440 t, DRFTER 440 $ 1980 MODELS 1 $ F-ulWarranteed For 2 Seasons" I : C()MESE[ ...... COME SAVE. NOTES & COMMENTS Life is your own affair. You can make yours almost anything you wish, if you will only do it. INTERESTING FAq ,"T A picnic lunch is good idea for a family large jug of plain cold will be appreciated by all. i You Any American who's been on the planet Earth for the past few months and is interested in personal finance has probably heard something about IRAs. For more details, read on. IRA stands for Individual Retirement Account, three little words that are destined tO revolutionize how Americans save and plan for their retirement. The new rules governing IRAs go into effect Janu- an/ 1, 1982. This will mark the first time that these tax-sheltered IRAs 11 be available to all wage- earners. In the past, only those who were not cov- ered by company pension plans were able to open IRAs and take advantage of their tax benefits. Most of what you've been reading probably talks , about contributing $2,000 a year to an IRA. If you stopped reading when you saw the $2,000 figure, get ready to reconsider. You don't need to contribute $2,000 a year to an IRA. That amount is the maximum you can contrib- ute in any given year. The first article in this series discussed how you could retire with $1 million if you saved $2,000 a year. Let's look at what you can expect if your financial situation doesn't allow you to save that much money. Many of us, if we really tried, could cut back our spending by $10 a week. (Maybe it means not going out one night or packing a lunch two days a week, but we could do it.) Actually, if you could save $9.62 a week, you could be saving $500 a year to contribute to your Individual Retirement Account, and $19.23 per week would allow a $1,000 per year contribution. A yearly contribution to your IRA of just $500 could result in an account worth more than $400,000 in 40 years. If you find that hard to believe, figure it out for yourself. For the purpose of this example, use a 12 percent simple interest rate compounded annually. Start with $500, multiply by 12 percent for one year, which is $60 in interest. For year two, add your $500 contribution to the $560 in the account from year one and multiply by 12 percent. Your second-year inter- est is $127.20 and your account now totals $1,187.20. Continue this calculation and you will findthat after 25 years you will have contributed $12,500 and your account will total $74,667. The interest alone will be over $62,000..  _ [ If you work 30 years, your account could reach $135,146, and 40 years brings you to $429,571. And remember, whatever your contribution, your IRA provides a tax shelter for that money. Your con- tribution is deducted from your gross income before you figure your taxes. The money cannot be with- drawn, without penalty, until you reach age 59. However, you may keep the money in until age 70. Then yo u must begin to withdraw it in specific amounts that will be based on life-expectancy tables and a percentage of the total amount in your account. Any money you withdraw after age 59 will be taxed at the prevailing rate. Presumably you will be in a lower tax bracket in your retirement years. Can you really afford not to have an Individual Retirement Account? The American Bankers Association offers the fol- lowing sample IRA chart. Clip this chart and this story and use them to help plan your IRA. Take the chart with you when you talk to your community banker about how much you could afford to set aside for your future--and then don't put it off any longer. What- ever you have to give up to save $9.62 a week now will be worth it when you retire. Coming Next:. IRA Benefits For Couples ....... Clip and Save SAMPI.:E iNDIVIDUAL RETIREMENT ACCOUNT* (Interest Rate: 12% Compounded Annually. All figures are rounded to the nearest dollar.) Your IRk, Account $500 ll,000 at the end Annual Annual of Year Contdbutn 1 $ 560 $ 1,120 5 3,558 7,115 10 9,827 19,655 15 20,877 41,753 20 40,349 80,9 25 74,667 149,334 30 135,146 " 270,290 35 241,732 483,46,3 40 429,571 859,142 "Source: American Bmklm Ammilon Based on the ctmunt approximate yteld of 12% for 30-mon cer- cates of deposlt. This rate ts not Intended to be a atement of the actual interemt rate available or guaranteed end financal recur. PLAN NOW FOR TOMORROW! We would like to help you make a most important decision. See us for further information or questions you may have and don't miss the next installment of this valuable series. DUN'T/ ists in n u down i are taiv Town 9f co Lasolls, ever t (n mall, l, 'eas fo (ediate, anager rking kestl "sttt ; t ee the t all  c., tl elope =-u-ma( d a ledation. tea, we a was lliam I I I *% BRADFORD NATIONAL BANK Bradford 222-5231 Fairlee 333,4379 Thettord 785-2112 Newbury 866-5672 .cb "Our Middle Name Is National" MEMBER ! /