Page 4 shop online at www.broadcasteronline.com March 1, 2011 DAVE SAYS: Should I start saving up for my dad? Dear Dave, I’m single, and I make about $70,000 a year. I’ve been able to set aside a nice bit of money in savings, and I’m paying off my student loans and car payment. One student loan is $4,000, the other is $30,000, and my car note is $21,000. Since I’m on the right track now, should I save up some for my dad’s retirement? He’s getting older, and he’s horrible with money. Colby Dear Colby, Right now, you need to be getting out of debt, saving, and building wealth for you. As you do this you can HELP WANTED •Truck Drivers •Equipment Operators •General Operations Personnel Full-Time, Part-Time & Seasonal Centerville Ag • 605-563-2533 30195 SD Hwy. 19, Centerville, SD choose to use some of your money to help family, friends, or your community, if you want. But just because you’re headed in the right direction, and being responsible with your money, is no reason to set up a “my dad’s an idiot with money” account. In your situation, you need to be working the debt snowball. List your debts—and it’ll be easy since there are only three of them— from smallest to largest. For you, this means you’ll make minimum payments on the car and the big student loan while you attack the $4,000 loan with a vengeance. Scrape to- RJ Rider’s Bar AT AUCTION Sold in one auction as a turn-key, ready to run bar & grill! Saturday, March 12th at 10:00 am Located on Main St., Gayville, SD Open House: Sat., Feb. 26th • 10am - 11am OPPORTUNITY - - - OPPORTUNITY - - - OPPORTUNITY This is a great opportunity for someone wishing to purchase a thriving turn-key bar! The bar consists of a 50’x60’ block building built in 1975. Building has kitchen, 4-bathrooms, storage, and walk-in cooler. New roof in 2009, 2 heat pumps hooked to natural gas, new water heater, & updated ansul system. Business includes under bar coolers, kitchen appliances & fryers, tables & chairs, bar stools, several lights, signs & more! This property does include a liquor license. For a complete listing & photos of everything included, go to www.GirardAuction.com! NOTE: Gayville is a nice community located between Yankton and Vermillion along Hwy 50. This community has a near new school and several newly built homes as well. If you are thinking of starting your own business be sure to check this out! There is plenty of room for a beer garden on the backside of the bar as well as mobile home hookups. LEGAL: N 75’ of Lots 1-2 & 3 Blk 3 original Town of Gayville, Yankton County, SD. TAXES: $805.40 TERMS: Non-refundable $20,000 down day of the auction with the balance on closing April 11th, 2011. Title insurance and closing cost split 50/50 between buyer and seller. Yankton Title closing agent. Taxes prorated to day of closing, with possession on closing. Buyer will be responsible for purchasing inventory day of closing. RJ Rider’s Bar • John & Rita Breckenridge - Owners (605) 661- 1846 Girard Auction & Land Brokers, Inc. Wakonda, SD 57073 • www.GirardAuction.com (605) 267-2421 • Toll Free: 1-866-531-6186 Marv Girard, BA# 12399; Ken Girard, CAI, AARE, Broker# 10183; Mike Girard, CAI, BA#13549 gether every penny you can to throw at that thing, and once it’s paid off, take the money you were putting toward it, plus any other you can scrounge up, and knock that car out. It may take you a couple of years of rolling up your sleeves and really attacking these things, but you can do it! —Dave Stay as a renter? Dear Dave, I’m 58, my kids are all out on their own, and I rent a great little apartment. It’s a perfect setup for me, because I travel quite a bit. However, I’ve had several people tell me I should really look into buying a house. I’ve saved about $450,000, I make $90,000 a year, and my rent is $1,100 a month. So, I guess I’m looking for validation. Is it okay for me to con- tinue being a renter? Alan Dear Alan, I think it depends a lot on the ratio of rent to wealth. By this, I mean if the rent isn’t much compared to the size of your income and nest egg, then I’d say keep the apartment. It’s not doing you any real financial damage, plus you still have the ability to invest in things other than a personal residence. Now, if you’re not doing any other investing because your income is being eaten up by rent, then apartment living starts to become a bad idea pretty fast. But the only real downside, long term, is that market rents will go up eventually. If they rise faster than your income, then you could lose control of that part of your life. Or what if the current owners sell OFFICE HOURS Monday through Friday 8:00am to 12:30pm and 1:30pm to 5:00pm 201 W. Cherry St., Vermillion, SD 57069 • 605-624-2695 www.broadcasteronline.com • www.plaintalk.net the building, and the new management jacks up the rent? Then, you’d need to look into buying something so you could regain control of all that. Still, if I’m in your situation, with your lifestyle and having piles of cash saved up, I’d stay put. It sounds to me like you’ve got a pretty sweet situation, Alan. But if things get sassy instead of sweet, you’ll be forced to revisit this issue. —Dave * To see where Dave is appearing live this spring, please visit www.daveramsey.com/c ategory/events/. Get a Step Ahead of the Competition! Call today! We D e s i g n We b S i t e s ! THE BROADCASTER P.O. Box 357 • 201 W. Cherry Vermillion, SD 57069 Phone: 605-624-4429 NOTICE THE ANNUAL SPRING LOAD LIMITS will go into effect in the near future on Clay County roads. Limits will be enforced as posted. We ask for your cooperation at this critical time of the year. Studies show that roads lose over 60 % of their strength during the spring thaw. Research by the South Dakota D.O.T. claims road damage by one legally loaded truck causes as much damage as 9,600 cars. One truck with 20% overload causes as much damage as 19,200 cars. You can be assured, we will not have the load restrictions in effect any longer than necessary to protect the large investment you have in your County Highway System. There will be no over-width or over-weight permits issued during this period. CLAY COUNTY COMMISSIONERS • CLAY COUNTY HIGHWAY DEPARTMENT CLAY COUNTY SHERIFFS DEPARTMENT