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Save!

            The average person doesn’t know very much about the various investment products, such as CDs, mutual funds, IRAs, 401Ks, Roth IRAs, and on and on.  But one important fundamental truth can be safely passed on to young people just starting out.  Save!

            Even if it’s just a little bit each week, save.

            A couple who has lived in Buffalo over 30 years met a financial planner soon after getting married and were introduced to mutual funds and setting up a long range retirement plan.  Back in the 1980s, those mutual funds were producing high yields, but there have been major downturns in recent years.  Meanwhile, they bought life insurance policies, which grew in value.

            Recently, the couple was introduced to a new product that can guarantee retirement income even when the stock market drops.  Their savings is making it possible to buy this new product.  They may be able to retire at age 65, after all.

            The lesson they learned is “save.”  You might have to pass up that 52-inch flat screen TV or that four-wheeler for a while, but if you save, the rewards are vastly better than some TV entertainment and some fun on the trails.

Good job, Heather

            Congratulations to Heather Reinhart, our sports and school news editor who brought home awards from the Minnesota Newspaper Association’s Better Newspaper Contest this week.  Heather does a great job, so we were not surprised.

            We thought our loon photo from the Lake Pulaski Fourth of July Boat Parade had a good chance to take a prize, but the judges chose another deserving photo.

            (See a related news item elsewhere in this week’s issue of the Journal-Press for more about Heather’s awards.)

Thanks for the tip

            Thanks, Dr. Jamie Pribyl, for a tip about the high number of horses in Wright County.  See this week’s feature story for a look at the horse industry and its large presence here.