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6A Daily News – Wednesday, June 1, 2011 Commerce business The countdown is underway for another successful launch of Tehama County’s Ribs, Rods & Rides event, sponsored by Rolling Hills Casino and the Red Bluff- Tehama County Chamber of Com- merce. More than 20 hot air balloon pilots will “fire up” their burners and light up the skies over Corning and the surrounding area both Sat- urday and Sunday morning, provid- ing rides of a lifetime for $200 per person. You may reserve a ride by contacting the Red Bluff Tehama County Chamber of Commerce or coming to the event at 5 a.m. and signing up the day of the event. All balloons will launch at 6 a.m. For those who prefer not to break the bonds of earth, or for adventurous children both young and old, tethered hot air balloon rides will be available Saturday only 7:30-10:30 a.m. for $10 per person, first come first served. Tethered rides will be taken in the famous “Party Panda” special shape balloon. Local streets will vibrate and the air will begin to rumble as 200 motorcycle and classic car enthusi- asts “fire up” their engines and con- verge on casino parking lots as a spectacular and nostalgic car show takes place from 9 a.m. until 3 p.m. Saturday only. Also on Saturday only, Tehama County firemen and casino culinary teams will “fire up” the barbcues for the “all you can eat” rib cook off. Spice up your palate from 11 a.m. until 6 p.m. for $15 per ticket. Local vendors will show off & As your pri- orities change at every stage of life, you need to change with them, especially when it comes to insurance. Coverage that meets your needs when you are 25 years old is likely to be different when you reach age Chances are there would be finan- cial hardship unless you pro- tected your income with dis- ability income insurance and life insurance. If your Alan Foley 55. As you think about your evolution through life, consider these important stages and the insurance needs of each. Protecting one of your most valuable assets When you are young and just beginning to accumulate financial assets, your ability to earn income is likely the foun- dation of your financial future. Protecting that income is critical. Con- sider this: If you are a 35- year-old earning $50,000 per year, let’s say you have an additional 30 years of earning poten- tial. With estimated annu- al salary increases of 3 percent, you’ll earn more than $2.3 million dollars over the remainder of your career. What would happen to those you care about if you could no longer work because of illness, injury or death and your earning power was gone? employer offers disability income insurance as a benefit, you may assume you’re adequately pro- tected. However, that coverage may be insufficient if you exam- ine it closely. Also, remember that group dis- ability ends when you leave your job. With today’s unstable job mar- ket, that’s something to think about. Individual disability income insurance policies are available with various features and options, and may be more affordable than you think. Since your coverage stays with you, job changes or peri- ods of unemployment won’t interrupt your pro- tection. Another way to protect your income is with short-term life insurance that may be able to be converted to permanent insurance later on. Term insurance offers inexpen- sive protection at a time in your life when you might have large financial obligations like a home mortgage, and permanent life insurance may be financially out of reach. Life insurance with a guaranteed conversion feature may also give you the ability to convert to permanent life insurance in case your health changes. Growing your assets and saving tax dollars As you grow more financially successful, achieving your financial goals and accumulating assets requires ongoing attention. enterprise Get ‘fired up’ for Ribs, Rods & Rides their wares and live entertainment will be provided throughout the day. Saturday evening at dusk, bal- loon pilots and crews will provide a night glow or burner blast to music, the culmination of a fun-filled Tehama County day. On Sunday, June 5 balloons will once again paint the skies with their vibrant colors, launching at dawn. So get “fired up” for one of the “hottest” annual events in Tehama County. For complete event infor- mation, go to Rolling Hills Casi- no’s Ribs, Rods & Rides Web page at www.rollinghillscasino.com. Watch for the Official RR&R Event Program as an insert to the Daily News on Thursday, June 2. For more information about reserving a balloon flight, call the Chamber of Commerce at (530) 527-6220. Terri Ratkoviak is a Balloon Festival planner. Insurance: Alifetime solution for financial security retirement income for your survivors in case you don’t reach retire- ment age. If both you and your spouse are fortunate enough to retire and live up to or beyond your life expectancies, it may also give you an optional source of supplemental income to help control the amount of taxes you will pay in retirement. Giving back and It’s true that your income remains the foundation for your future, but hopefully you’ll begin to have more opportunity to improve your lifestyle, enjoy more discretionary spending and save more money. Again, insurance can be a valuable tool for reaching your goals in this stage of life. Let’s say you are a family with two wage earners and you depend equally on both salaries to help with financial obligations like college. Chances are you will also be trying to grow your retirement sav- ings. This may be the time to convert your term life insurance to perma- nent policies. This move may help you accumulate tax-deferred cash value and still provide income tax-free benefits in the case of your untimely death. A permanent life insurance policy can help ensure a steady flow of dollars to supplement leaving your legacy In later years, you may wish to leave assets to loved ones or charities that are important to you. Of course, you’ll also want to avoid having to deplete your assets in case you or your spouse becomes ill during this life stage. Once again, certain types of life insurance provide the flexibility to reach these goals. Tax diversification through life insurance can help you reduce the amount of taxes due, and thus increase the size of your estate. Thanks to a tax- free death benefit, it may be a good way to help off- set your taxable invest- ments so your family can make the most of your financial legacy. Leaving a gift to chari- ty with life insurance is a flexible, cost-effective and, in many cases, tax- advantaged strategy that will benefit your cause after your death. If you are wondering which life stage you are in and what type of insur- ance you need, an insur- ance review with a finan- cial advisor can be help- ful. Be sure to ask him or her about the insurance policy’s features, benefits and fees, and whether the insurance is appropriate for you, based upon your financial situation and objectives. Because each life stage goes by too quickly, it’s important to make the most of every day. Know- ing that you and your loved ones are protected will help you do just that. Alan Foley is a financial advisor and business financial advisor for Ameriprise Financial, 2150 Main St., Ste. 8, and can be reached at 528-1328. • Farmer’s Market – We are happy to announce that the Chamber’s first Farmer’s Market will begin Friday June 10th. Set up will be at 5:30 pm, and start at 6 pm, in front of the Corning Library in the parking lot. There will be a $25.00 processing fee for all vendors and a weekly fee that varies according to the product sold. Vegetable and fruit vendors, (anything that is homegrown and unprocessed) will pay a$5 vendor fee. Craft vendors, (processed and refined as well as home- made items and baked goods, and non food product ser- vice groups fit into this category), will pay a $10 week- ly fee. Food vendors (limited to 4 different types of vendors) will pay a $15 weekly fee. There will be a limit of four food vendors; one hot dog vendor, one Mexican food vendor and one popcorn or kettle corn vendor. We would like the fourth food vendor to be a cotton candy and caramel apple vendor that is a service or youth group. This spot would be able to be rotated from group to group. We are excited about this new venture and trust that the community will support it and benefit from it as well. We plan to have entertainment and make it a place to come on Friday nights during the summer to have something fun for the whole family to do. There will be activities for the kids as well as shopping and enter- tainment. For more information call the Chamber at 824-5550 or stop by and pick up the written informa- tion at 1110 Solano Street. • Grand Opening – Best Western Corning Inn is proud to present for the first time ever in Northern Cal- ifornia the Best Western NASCAR car, June 4 and 5, at their new location, 910 Hwy 99W, (behind Burger King and next to Starbucks). You are invited to a day of fun with free hot dogs and drinks as well as a free tour of Best Western Corning Inn and best of all, the Best Western NASCAR car will be available for viewing and picture taking, so please bring your camera! This is a celebration you don’t want to miss. • Corning in the Evening – Best Western Corning Inn will also be hosting the monthly get together Thurs- day, June 9th at 5:30 p.m. There will be refreshments, a chance to meet the new owner and staff of Best West- ern, as well as meet and greet other chamber members and interested citizens. Bring your business card for a chance to win a door prize. Stocks end a down month on an up note Wall Street NEW YORK (AP) — That screeching sound you heard in May? That was the stock market. While the month ended with four days of gains in most of the indexes, con- cerns about high gas prices, tornadoes and flooding in the South, the post-natural disaster slowdown in Japan and the debt crisis in Europe sent the Standard and Poor’s 500 stock index down 1.4 percent in May. That decline followed a 2.85 percent increase in April, which fol- lowed gains that set the fastest pace in the first quar- ter since 1998. Before this month, stocks were boosted by higher corporate earn- ings, increased business spending and a global eco- nomic expansion. May was the first down month for the S&P since August 2010. Other risky assets also saw declines in May, follow- ing a year of increases. The prices of commodities like oil, cattle and coffee fell by an average of 7 percent. Meanwhile, Treasury bond prices, which tend to rise when investors fear that the economy is slowing, rose to near their highest level of the year. For Tuesday, the stock market ended higher, on signs that Germany might drop its demands for an early rescheduling of Greek bonds, paving the way for a deal that could prevent Greece from defaulting on its debt. The S&P index gained 14.10, or 1.1 percent, to 1,345.20. The Dow Jones industrial average added 128.21, or 1 percent, to 12,569.79. And the Nasdaq composite rose 38.44, or 1.4 percent, to 2,835.30. These gains came in spite of another grim report on the U.S. housing market. Home prices in in 12 of the 20 cities tracked by the Stan- dard & Poor’s/Case-Shiller index dropped in March to the lowest levels since the housing bubble popped in 2006. ‘‘Home prices contin- ue on their downward spiral with no relief in sight,’’ said David Blitzer, chairman of the index committee at S&P Indices. Oliver Pursche, president of Gary Goldberg Financial Services, said the report did- n’t hurt investors’ confi- dence much because their expectations for the U.S. housing market were already low. ‘‘There’s no shock factor there,’’ Pursche said. ‘‘We knew it was going to be bad, and it is.’’ Even so, the month of ✪ WE WILL PAY UP TO ✪ Windshield Replacement on deductible *Some restrictions apply starting at$ ✪ FREE Estimates $500* 200 530.527.6160 915 Madison St., Red Bluff COMPLETE AUTO REPAIR All makes and models. We perform dealer recommened 30K, 60K, 90K SERVICES AT LOWER PRICES Smog Check starting at $ (most cars and pick-ups) 2595 + cert. Pass or FREE retest 527-9841 • 195 S. Main St. May was an unhappy one for stockholders for the sec- ond year in a row — although the losses weren’t nearly as bad as they were last year. Just like 2010, when the S&P index lost 8 percent in May, Greece said that it will need outside help from other European Union countries to meet its debt payments. And in the U.S., the domestic economy sput- tered again. Thirteen eco- nomic indicators, ranging from personal spending to manufacturing orders, were weaker than economists had predicted, a sign investors and analysts say indicates that high gas prices are slow- ing growth more than antici- pated. Some investors believe that May was merely a short-term dip—and given the news of the month, mar- kets could have seen bigger declines.