AURORA
YORKVILLE & GUILFORD
July 2018 THE BEACON Page 7B
AURORA
By Fred Schmits
Community Correspondent
aurora @ goBEACONnews . com
HI NEIGHBORS !!
A guest column is being featured this month . Mr . Schmits will be back next month with insights and interesting facts .
Irene Peters Hicks was born on June 25 , 1918 , one hundred years ago . She was born to John and Tillie Feller . Irene had three brothers and two sisters . Her brother , Donald , is her only surviving sibling .
Irene worked for the Pelgen family cleaning their home which was located above their restaurant and bar . She also cleaned the restaurant and bar . One night she met her future husband , Ray Peters , as he was partaking in a beverage with the local guys .
Irene and Ray were married and resided at 402 Railroad Ave . They were blessed with six children- four girls and two boys . Dr . Alcott delivered the oldest children , and Dr . Baker delivered the younger ones . They were all born at home .
YORKVILLE & GUILFORD
By Laura Keller
Community Correspondent
yorkville @ goBEACONnews . com
If there ’ s one thing that southeast Indiana is famous for , it ’ s fried chicken . Now that it ’ s summertime , there are two upcoming opportunities to savor some good ‘ ol Indiana fried chicken ! Mark your calendar for Sunday , June 24 for the Miller-York Volunteer Fire Department chicken dinner and car show and Sunday , July 29 for the All Saints – St . Martin Campus festival .
In addition to summer festivals , this is the time of year many of us are busy attending family reunions and high school graduations . The Alma and Charley Widolff family reunited for the first time on May 27 . Hosted by Joe and Jenny Bulach , more than sixty-five family members were in attendance . Family members drove from
O ur
Irene Peters-Hicks celebrates her 100th birthday !
Irene stayed at home to raise the children . When Mike the youngest , started school , she decided to go to work at Ullrich ’ s Drug Store . She worked behind the lunch counter serving food and ice cream . When Patty , the oldest got old enough to work , she started working alongside her mother . They became a team , and everyone enjoyed hanging at the soda fountain .
Irene ’ s daughter , Charlotte , bought Pelgens with her partner John Franz . They reopened the restaurant as the Coachlight Inn . When the drug store closed , Irene and Patty went to work at the Coachlight . ( A personal note- I can still remember Irene ’ s famous pot roast . No other has ever come close !) The ladies were dedicated to
as far away as Akron , OH , Grainger , IN , Indianapolis , IN , and Ferdinand , IN to visit with family members they haven ’ t seen in years .
Memorial Day weekend has always been special for Sara Graf . Her maternal grandfather was in the military and moved a lot throughout his career , resulting in her aunts and uncles being spread out geographically . Memorial Day weekend was the one time during the year when everyone gathered together at her grandparent ’ s house . Sara has kept the tradition going and has hosted the event for the past several years at her home in Yorkville . More than forty relatives drove from Jasper , IN area and Ft . Wayne , IN area to enjoy each other ’ s company on May 26 .
Three young Yorkville residents graduated from East Central High School on June 3 and will be furthering their education this fall at Indiana colleges . Brandon Hoffman , son of Zach and Stephanie Hoffman , is studying Agriculture Education at Ivy Tech ; Daniel and Robyn Kirchgassner ’ s son Joseph
Communities
making the restaurant a success . Irene opened the doors at 6 A . M . every morning and greeted her customers with the smell of fresh-brewed coffee . Everyone enjoyed the service and friendliness they received from Irene .
Sadly , Ray passed away . Several years later , Irene met and fell in love with Elmer Hicks . The kids welcomed their new siblings to the family with open arms .
Years passed , and Irene started to become forgetful . Her family loved her and was dedicated to her care and safety . Irene began wandering off , causing the family to fear for her safety . She went to live in a senior facility in Dillsboro where she is very content to this day .
Irene still brightens up a room with her smile and funny comments . The kids are close by and visit often . She continues to make life easy for all of them .
Irene worked until she was ninety . At the same time , she thought she should go sign up for unemployment . The kids all had a good laugh about that !
Irene was a very organized person . She would often entertain seventy and eighty people for dinner . She was amazing- she could work all
will be attending Purdue University ; and Nick Martini , son of Bill and Cathy Martini , will study business at Indiana University . Best of luck to these young men as they pursue their careers .
If you have news in the Guilford / Yorkville area you ’ d like me to share , please contact me at Yorkville @ GoBeaconnews . com . day and go home to make chicken noodle soup or potato chip cookies for an ailing neighbor . Her day would start black and white , but before her day was over , she would color it beautiful !
Irene ’ s children include Patty ( Dan ) Carter , Charlotte Hastings , Kenny ( Zora ) Peters , Linda Smither , Donna ( John ) Van Ostrand , Mike ( Diane )
Peters , Hugh ( Jane ) Hicks , and Richard ( Rose ) Hicks .
Irene is blessed with twenty-one grandchildren , thirtyfour great-grandchildren , and ten great-great-grandchildren .
All are invited to share cake and ice cream with Irene on June 24 at The Waters from 2-5PM . Cards can be sent to 12803 Lenover , Dillsboro , IN 47018 .
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Medicare and Roth Conversions - How are they related ?
Recently , I shared how the Tax Cuts and Jobs Act of 2017 provides opportunities to save on taxes through Roth IRA Conversions . These opportunities are set to expire at the beginning of 2026 . Because Roth IRA conversions can involve complex financial strategies , I always have urged readers to consult with a financial professional . A Roth Conversion can have an impact on income , which can affect your tax bracket and Medicare premiums .
To understand where I ’ m going with a Roth Conversion having an impact on Medicare , we will start with a hypothetical example of a married couple , both age 65 . They have Medicare and live on an annual income of $ 75,000 . They file their taxes jointly and since they make less than $ 170,000 a year , their monthly premium for Medicare Part B is $ 134 . This same couple decides to convert $ 200,000 of traditional IRA money to a Roth IRA in 2018 which increases their taxable income to $ 275,000 for that year . 1 How will this affect their Medicare Part B premiums ?
Generally speaking , Medicare Part B premiums are based
on the tax return from 2 years prior . For example , the 2018 Medicare Part B premiums are based on income received in 2016 . In the example of the married couple , they will experience an increase in Medicare Part B premiums in 2020 based on an income of $ 275,000 . Using today ’ s premium tables , their Medicare Part B premiums would be $ 348.30 a month . Together , that would be more than $ 8,000 per year for their Medicare Part A & B . 2 Their
“ Because Roth IRA conversions can involve complex financial strategies , I always have urged readers to consult with a financial professional .” — Roger Ford
Medicare Part D ( drug coverage ) premiums would also be affected in 2020 by the increase in their income for 2018 , costing them even more money . 3
With all that being said , it may still make sense for the married couple to convert their Traditional IRA to a Roth IRA , but there could be a better way . First , there is no rule indicating how the conversion needs to occur . In other words , the conversion to a Roth IRA is not required to happen all at once . Secondly , by developing a strategic plan to convert the IRA money over the course of a few years , they could potentially keep their income below certain tax thresholds which would save them on both taxes and Medicare premiums .
The Tax Cuts and Jobs Act of 2017 does not expire until 2026 , providing a great opportunity for extended financial planning . If you think there is an opportunity here for you , don ’ t delay . Some strategies can take several years to reach full implementation . Consider taking advantage of these lower tax rates , they could be the lowest you will see for the rest of your life .
1 https :// www . medicare . gov / your-medicare-costs / costs-at-a-glance / costs-atglance . html
2
Ibid .
3 https :// www . medicare . gov / part-d / costs / premiums / drug-plan-premiums . html
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The hypothetical example for illustrative purposes only . Be sure to speak with qualified professionals about your unique situation . Our firm is not affiliated with the U . S . government or any governmental agency .
Securities offered through Madison Avenue Securities , LLC ( MAS ), member FINRA / SIPC . Investment advisory services offered through AE Wealth Management , LLC , a Registered Investment Advisor . MAS and Conservative Financial Solutions are not affiliated companies . AE Wealth Management and Conservative Financial Solutions are not affiliated companies . Investing involves risk , including the potential loss of principal . Neither the firm nor its agents or representatives may give tax or legal advice . AW # 04182554
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