Inflation and your retirement income strategy

You might not think much about inflation. After all, it’s been quite low for the past several years. Still, you may want to take it into account when you’re planning your retirement income strategy.
Of course, no one can really predict the future course of inflation. But it’s a pretty safe bet it won’t disappear altogether — and even a mild inflation rate, over time, can strongly erode your purchasing power. Consider this: If you were to purchase an item today for $100, that same item, in 25 years, would cost you $209 — assuming an annual inflation rate of 3 percent. That’s a pretty big difference.
During your working years, you can hope that your income will at least rise enough to match inflation. But what about when you retire? How can you minimize the impact of inflation on your retirement income?

DNR to decide on claims to Chuitna water rights

Two hearings this month could change the face of Alaska’s salmon fisheries forever.
On Aug. 21, the Department of Natural Resources will hear both sides on competing claims to water rights for salmon streams at Upper Cook Inlet’s Chuitna River or to a proposed coal mine. If DNR opts for the mine, the decision would set a state precedent.

Take action to leave the legacy you desire

August is “What Will Be Your Legacy” Month. If you knew this, you have an unusual knowledge of obscure celebrations. But even if you weren’t aware of this “month,” you can see that the idea behind it — the importance of leaving a legacy — is an important one. What should you do to help ensure you’ll leave the type of legacy you desire?

First seagoing electric passenger vessel to launch next summer

The first seagoing electric powered passenger vessel in the U.S. is set to launch next summer in Juneau.
The E/V Tongass Rain is a 50-foot, 47-passenger catamaran designed for eco-education and whale-watching tours. Its primary fuel source will be rain, delivered to the boat via Juneau’s hydroelectric power grid and stored in a bank of lithium batteries.
The more modern batteries are less than half the weight of traditional lead acid batteries, and provide three times the power and charge three times as fast, said Bob Varness, president and manager of Tongass Rain Electric Cruise.

What should you know about establishing a trust?

You don’t have to be a CEO or multimillionaire to benefit from a trust. In fact, many people gain advantages from establishing one – so it may be useful to learn something about this common estate-planning tool.
Why would you want a trust? For one thing, if you have highly specific wishes on how and when you want your estate to be distributed among your heirs, then a trust could be appropriate. Also, you might be interested in setting up a trust if you’d like to avoid the sometimes time-consuming, usually expensive and always public process of probate. Some types of trusts may also help protect your estate from lawsuits and creditors. Currently, only a small percentage of Americans will be subject to estate taxes, but estate tax laws are often in flux, so things may be different in the future – and a properly designed trust could help minimize these taxes.

Bristol Bay sockeye prices dip to 50 cents per pound

Shock and dismay were heard from Bristol Bay fishermen when they finally got word last week that major buyers would pay 50 cents a pound for their sockeye salmon. That’s a throwback to dock prices paid from 2002 through 2004, and compares to $1.20 advanced last year ($1.33 on average after price adjustments).
A late surge of reds produced catches of nearly 13 million in its final week, bringing the total by July 23 to 34.5 million fish. The fish were still trickling in, and state managers, who called the season an “anomaly,” said the final tally will likely reach the projected harvest of 37.6 million sockeye salmon.

Term vs. permanent insurance: Which is right for you?

by Edward Jones Matthew North Financial Advisor What’s your most valuable asset? While you are still working, this asset may actually be your future income — so you need to protect it. And you can do so by maintaining adequate life insurance, which can help provide your family with the financial resources necessary to meet […]

Bristol Bay sockeye go from ‘bust’ to ‘bounty’

The world’s biggest sockeye salmon run at Bristol Bay went from “bust” to “unbelievable” in one week.
Landings last week broke records every day for five days for that time frame, bringing the total sockeye catch to nearly 28 million fish on an unusually long-tailed run — and the reds were still coming on strong.
That had overloaded processors scurrying to replace workers they’d sent home the previous week when the big forecasted run was deemed a no-show. The late surge of sockeyes also left many fishermen frustrated with limits to their catches, while tenders were trekking the abundance of reds to other regions for processing. It remains to be seen how long the run will last, and if it will produce the 38 million projected catch.

What happens to my IRA after I’m gone?

Contributing to an IRA can help you build some of the resources you will need to enjoy a comfortable retirement. But what happens to your IRA if you don’t use it up in your lifetime?
You can still put the IRA’s assets to good use — as long as you’ve made the right moves and communicated your wishes clearly to your family.
When you opened your IRA, you should have named a beneficiary — someone who will receive the IRA assets when you pass away. You could also name a contingent beneficiary if the first beneficiary dies before you. These beneficiary designations are important because they can supersede the instructions left in your will.
If you name your spouse as beneficiary of your IRA, he or she has options unavailable to other beneficiaries. Here are two possibilities:

Alaska DEC starts massive marine debris removal project

Kodiak volunteers were scrambling with front end loaders and dump trucks to ready 200,000 pounds of super sacks for the first pick-up of a massive marine debris removal project that begins in Alaska this week.
The month-long clean-up — backed by a who’s who of state and federal agencies, nonprofits and private businesses — will deploy a 300-foot barge and helicopters to remove thousands of tons of marine debris from some of the world’s harshest and most remote coastlines.

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