Planner
In This Issue of The Planner: No Matter How Young You Are ... planning is a good thing!
If you are in your early 40s with decades away from retirement—and still in the midst of child-rearing—it's good to plan on naming a guardian for your minor children, to begin retirement investments.
Or, if you are in your mid-50s, working toward retirement—but yet enjoying an active full-time work life—it's great to plan for your income needs and goals at retirement.
If you are enjoying your 60s and later years, planning for longer-term health care and maximizing your family wealth assets may be considered.
In Psalm 40: 5 (NIV), the Word tells us: "Many, O Lord, my God, are the wonders you have done. The things you planned for us no one can recount to you..."
So, in this issue, no matter how young you are ... please enjoy the "planning-ahead" articles from Jim Miller and Professor Emeritus Charles B. Cureton, Ed.D. And, the planning ahead discussed in our feature story of Earl L. Stockert. Please let us know what you think.
He Took His Mother's Advice: To Share and To Make Friends
Introducing...Earl Loren Stockert
"He has made everything beautiful in its time." –Ecclesiastes 3:11 (NIV)
A lifelong native of North Canton, Earl Loren Stockert had an upbringing steeped in the traditions, character, and hallmarks of integrity that made him part of "the greatest generation."
"It was the Great Depression," Earl reminisces, "my family had no money, and nothing such as 'food stamps.' My dad was out of work for over a year, but my parents were able to barter. I'd go with my mother, Myrtle Alice Shaub Stockert, pulling my little wagon full of fresh vegetables to the Acme store on the square in North Canton. My mother would trade her vegetables for items such as toothpaste, soap, and other necessities. And, when it came time to pay the home and car insurance premiums, the insurance man—a former schoolmate of my dad's—accepted a payment of cabbage and other vegetables. Times were so hard. We had a 100' x 200' garden. My mother canned probably more than 300 jars for the winter. I know my dad anguished about how he would support a wife and small child with no income, but he would take odd jobs."
Earl's dad, George Ervan Stockert, was awarded the Purple Heart in WWI, was employed in the lumber yards, and worked for one year at the Hoover Company. His mother was employed at the Dueber- Hampden Watch Company, Hoover Company, and Baugman Restaurant.
"I graduated at age 17 ½, and had just one day off. The following day, I went to work at the Hoover Company," Earl remembers. "From 1944 to 1973, I walked home every day for lunch, until the government's energy policies under former President Nixon cut our lunch hour to 30 minutes." A graduate of North Canton High School, Earl enjoyed a 46–year career with Hoover, retiring in 1991.
"Because I had no brothers and sisters, my mother told me 'to share and make friends.' I have always tried to live my life that way, and it has proved to me the best advice I've ever received."
Earl certainly has followed his mother's advice. He has generously shared with his North Canton and greater Stark County communities. A longtime supporter of Hoover High School's fine arts and athletic programs, Earl was recognized in 2002 "as a friend of education" by the North Canton Education Association for his involvement. In 2003, Earl received a recognition award for "outstanding and dedicated service to the North Canton School System and Community."
Since 1970, Earl has generously supported Malone's annual giving program, regularly attending and supporting the University's students at their athletic and fine arts events.
"I had been giving to an out–of–town college when I decided to re–direct my giving to higher education in my own community."
In addition to being a major contributor to Malone, Earl has generously supported Walsh University. "Because I do not have children of my own, I consider the kids at Hoover, Malone, and Walsh to be 'my kids.'"
Taking his mother's advice completely to heart, Earl has made friends—many friends! The North Canton resident developed deep friendships with his church family at Zion United Church of Christ; the Akron Metro Parks Hiking Club, the Canton Hilltoppers, and Christ Presbyterian's Coed Singles Club for 15 years.
With a deep Christian faith, Earl experienced the Lord's divine intervention in his family.
"I have witnessed God's many miracles, especially in the last two weeks of my parents' lives and in the circumstances of their deaths. On two separate occasions, my cousins Bill and Julia stopped over to my house, when they were very much needed. One of my favorite Bible verses is: 'He has made everything beautiful in its time.' Ecclesiastes 3:11 (NIV)."
Earl, who will be 85 in November, says it is so important to "get your affairs in order" and continues, "if I had brothers and sisters and a wife, perhaps it would not be as urgent. But, as a matter of practicality, I needed to appoint an executor and power of attorney early on, so that probate could be avoided. I would advise anyone over 40 to get their estate plan completed, especially those with young kids. It's important for a guardian to be appointed so your children can be provided for, and they are not left alone. By creating an estate plan, you get to decide where the money goes—not Uncle Sam."
"Malone continues to be incredibly grateful for the commitment Earl has made to our students. We are indeed extremely thankful that he has named Malone as one of his beneficiaries of his estate," says Interim President Will Friesen.
Thank you, Earl, for the many ways you support public education and private Christian education in the community of Stark County!
How to Maintain Mental Health in an Aging Body
(From the Perspective of a Retired Christian Psychologist)
by Charles B. Cureton, Ed.D., Professor Emeritus, Malone University
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According to the January 2011 issue of the Monitor on Psychology, several principles for aging were suggested.
These principles and some additional ones become the basis for listing 20 ways for seniors to live healthier and maintain their self-respect. The aging process is accompanied by several social stereotypes, including a growing helplessness mentally, physically, and socially. This stereotype encourages an active self-fulfilling prophecy in every aging adult to behave in a manner compatible with this prophecy. As a retired psychologist, I've recorded some observations that can serve as a guide in the coming decade for seniors who would prefer to maintain their health and self-dignity. Some "don'ts" include:
Some "do's" include:
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How Work Can Affect Your Social Security
By Jim Miller
You can get Social Security retirement or survivors benefits and work at the same time. But, if you are younger than full retirement age and earn more than certain amounts, your benefits will be temporarily reduced. Here is what you should know.
Working Rules
Social Security says that if you're under
your full retirement age (which is 66 if
you were born between 1943 and 1954;
if not, see ssa.gov/pubs/ageincrease.htm
to find your full retirement age) and are
collecting benefits, then you can earn up
to $14,160 in 2011 without jeopardizing
any of your Social Security if you don't
reach your full retirement age this year.
But if you earn more than the $14,160
limit, you'll lose $1 in benefits for every
$2 over that amount.
In the year you reach your full retirement age, a less stringent rule applies. If that happens in 2011, you can earn up to $37,680 from January to the month of your birthday with no penalty. But if you earn more than $37,680 during that time, you'll lose $1 in benefits for every $3 over that limit. And once your birthday passes, you can earn any amount by working without your benefits being reduced at all.
Wages, bonuses, commissions, and vacation pay all count toward the income limits, but pensions, annuities, investment income, interest, and government or military retirement benefits do not. To figure out how much your specific earnings will affect your benefits, see the Social Security Retirement Earnings Test Calculator at ssa.gov/OACT/COLA/RTeffect.html.
Temporary Loss
It's also important to know that if you do
lose some or all of your Social Security
benefits because of the earning limits,
they aren't lost forever. When you reach
full retirement age, your benefits will be
recalculated to a higher amount to make
up for what was withheld. For details
and examples of how this is calculated,
see ssa.gov/retire2/whileworking3.htm.
Tax Factor
You also need to factor in Uncle Sam.
Because working increases your income,
it might make your Social Security benefits
taxable. Here's what the IRS says. If
the sum of your adjusted gross income,
nontaxable interest, and half of your Social
Security benefits is between $25,000
and $34,000 for individuals ($32,000
and $44,000 for couples), you have to
pay tax on up to 50 percent of your benefits.
Above $34,000 ($44,000 for couples),
you could pay on up to 85 percent,
which is the highest portion of Social
Security that is taxable. About a third of
all people who get Social Security have to
pay income taxes on their benefits.
Savvy Tips
For more information on how working
can affect your Social Security see ssa.
gov/retire2/whileworking.htm and ssa.
gov/pubs/10069.html, or call the Social
Security helpline at 800.772.1213 and
ask to receive a free copy of publication
number 05-10069, "How Work Affects
Your Benefits." And for information
on Social Security taxes call the IRS at
800.829.3676 and ask for their free publication
915, "Social Security and Equivalent
Railroad Retirement Benefits," or
see www.irs.gov/pub/irs-pdf/p915.pdf.
Jim Miller is author of the book, The Savvy Senior, and a contributor to NBC's Today Show. Visit Jim's website: SavvySenior.org.





DO develop the philosophy, "What I can
do for others, I will do." Example: This
refutes the stereotype that "helplessness" is
associated with aging and encourages the
general public to see the aging process as
a new opportunity to serve rather than a
dreaded disease to be avoided.