News

The cost of waiting to save for retirement

Patience is a virtue, but waiting can be costly in regard to saving for retirement. A 2019 report from the Economic Policy Institute found that nearly half of families have no retirement account savings at all. Individuals who have delayed saving for retirement could find themselves in difficult situations as they near retirement age. Assuming an 8 percent rate of return on money deposited into a retirement account like a 401(k), an individual who begins depositing $6,000 annually at age 20 will have roughly $1.7 million in that account in 40 years. By waiting until age 40 to begin making the same annual contributions and assuming the same rate of return, an individual would end up with less than $300,000 in his or her retirement account at age 60. That's a sizable disparity and one that could make the difference between a comfortable retirement and one plagued by financial difficulties. Catch-up contributions allowable by the Internal Revenue Service can help men and women over 50 build their retirement savings. However, the most effective way to save for retirement is to begin early and to continue doing so throughout adulthood.

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February is Low Vision Awareness, Age-Related Mascular Degeneration Awareness Month

As the worldwide population ages, vision loss from eye disease is becoming a major health concern. More than 40 million people are of the age 65 or older, and that number is expected to more than double by 2050. By that same year, the number of Americans with agerelated eye diseases is also expected to double, and the number of people living with low vision is projected to triple.

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Great Western Bank donates to Book Besties

Great Western Bank recently donated $5,000 to EDGE Nebraska City's Book Besties program, which provides guest readers in Nebraska City elementary classrooms monthly and also provides books for students' at-home libraries. Pictured from left are Book Besties Lisa Chaney, Chuck Stoner, Stacy Higgins, Leroy Frana, Sharon Hersemann, Teresa Albers and Heidi White, manager of the Nebraska City branch of Great Western Bank. Courtesy Photo

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Lourdes Speech Team at Conference

The Lourdes high school speech team placed second at the Pioneer Conference meet. Bringing home medals were, Cora Krog, 3rd in Poetry; Xander Monson, 5th in Humorous Interpretation; Theresa Gygi, 2nd in Informative and 1st in Dramatic Interpretation; Reed Greger, 1st in Poetry & 1st in Humorous Interpretation; Theresa Gygi and Reed Greger, 2nd in Duet; and Hayden Beccard and Emma Misner, 1st in Duet. Photo Submittred

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Is it time to start watering

Most of this winter’s conditions have been abnormally warm and dry, and at times very windy. Lack of snow or rain is resulting in winter drought conditions for much of the state - for a look at current drought conditions, visit drought.unl.edu. In the Lincoln area, soil did not freeze until late December and only remained frozen for a few weeks, until approximately late January. In many areas, recent warm conditions have reduced or eliminated frozen soil.

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SECC career fair set for Feb. 23

Nebraska City High School is alerting its junior and senior students about an opportunity to find out more about programming at Southeast Community College. The college is hosting a career fair on Feb. 23 from 1 to 2:30 p.m. at the Nebraska City Learning Center, formerly the Pioneer Academy, at 1406 Central Ave.

Read MoreSECC career fair set for Feb. 23