On Going Happenings
Agave Bar & Grill - Happy Hour 5-7pm, 2 for 1 12 oz. Margaritas. On
May 5, Cinco de Mayo Party - from 5pm to 2am there will be free tequila
shots every hour on the hour. 402 1st Street.
A-J’s Dockside - Happy Hour 4-7pm, Live music Friday thru Sunday,
Lunch 7 days a week 11am-5pm, Dinner 7 days a week 5-10pm. 1315
Chatham Ave.
American Legion Post 154 - Canteen open 5pm Monday-Saturday,
First Mondays Pizza Night 5-7pm, Bar Games Tuesday and Thursday
6-9pm, Line Dancing Wednesday 7pm, Thursday Dinners 5:30-7:30pm,
Bingo (come early!) and Karaoke Friday 8-10pm. 10 Veterans Dr.
Benny’s Tavern - Happy Hour Monday thru Friday 10am-7pm, Open
Pool Tuesday all day, Pool Tournament Wednesday 8pm, Karaoke
Thursday thru Sunday 9pm. Kitchen open Sunday 12:30-Midnight.1517
Butler Ave.
Bubba Gumbo’s - Open Sunday thru Thursday 12-9pm, Friday and
Saturday 12-10pm. Happy Hour 4-7pm with $1 off beers and $9.95
Shrimp Dinner. Hi Life and Jameson Shot specials on Monday. 3 Old
Highway 80.
Doc’s Bar - Happy Hour Monday thru Friday 4-7pm, Karaoke Thursday
8pm, Live music Friday and Saturday 9pm. 10 Tybrisa St.
Fannie’s on the Beach - Live music on weekends. Saturday and Sunday
Brunch Specials. 1613 Strand Ave.
Nickie’s 1971 Bar and Grill - Happy Hour Monday thru Friday 4-7pm,
Daily Lunch Specials Monday thru Friday, Texas Hold Em Sunday 7pm,
Monday thru Wednesday 8pm, Tuesday Open Mike Night 8pm, Sips and
Scenes every Wednesday 7pm, 8 Ball Pool Tournament and Karaoke
Thursday 7pm, Live Band Friday and Saturday 9pm-?? 1513 Butler Ave.
Social Club - Closed Monday and Tuesday. Daily Happy Hour from
5-6pm: Two free drinks and Growler specials, 2 for 1 Sangria every
day until 6pm, Wednesday is Tacos and Trivia at 7:30pm, Live music
Thursday at 7pm and Friday and Saturday at 8pm, Bluegrass Brunch
Sunday 11am-3pm. 1311 Butler Ave.
Spanky’s - Daily cocktail and beer specials. Home of the Original
Chicken Finger! 1605 Strand Ave.
The Deck – Open Wednesday, Thursday and Sunday 11am-9pm and
Friday and Saturday 11am-10pm. New menu and new improvements.
Only restaurant on the beach. 404 Butler Ave.
Sting Ray’s Seafood - The home of blue crabs, beach music and beer.
Live music every night 6-10 pm. 14th St. at Butler Avenue.
Tybee Time - Happy Hour Monday thru Friday 4-7pm, DJ Marty
Thursday-Saturday. 1603 Strand Ave.
Wind Rose Café - Happy Hour Monday thru Friday 4-7pm. Daily Lunch
Specials. 19 Tybrisa St.
28 TYBEE BEACHCOMBER | MAY 2018
By Russell Robertson, CFP Rogue Waves
Investing - Make Your
Money Work for You
Here’s a question you probably haven’t heard from financial media before:
When shouldn’t I invest in a 401(k)? Conventional wisdom would tell you
that’s absurd - everybody knows the best thing to do is invest as much as
possible for as long as possible because “compound interest is the most
powerful force in the universe” (Einstein). But this article is called “Rogue
Waves” for a reason, so let’s look at that question from a different angle.
Einstein is not wrong about compound interest. Let’s say you invest $5,500
per year into your 401(k) or IRA, and it grows long-term at 7%:
Let that chart sink in for a second. For most people working today, “full
retirement age” is 67. That means most millennials have close to 40 years
before retirement. Want to have a $1 million nest egg so you don’t have to
work through retirement? Invest $385/month and you’re there. Take that,
gravity.
Longer investment horizons are also great for smoothing out market
volatility. What does that mean? It means that if you have 20+ years until
retirement, you care a lot less if the market crashes this year than someone
who is retiring in June.
That last scenario is a justification I hear for why people don’t contribute
to a 401(k) - they are close to retirement and don’t trust the stock market.
Unfortunately, that is a terrible excuse. Every 401(k) plan has a money
market or stable value fund you can put your money in - this money isn’t
invested in the stock market, it’s just cash. Pretty much every 401(k) plan
also has a company match. If you don’t contribute, you can’t get the match,
and that means you’re passing up on free money (never a good idea).
So when shouldn’t you invest in a 401(k)? There are two scenarios:
1) Don’t put after-tax money into a Traditional 401(k) or IRA. I have seen this
option both on a workplace benefits website and as a question I get for what
to do with year-end bonuses. Don’t do it, you’ll just end up paying tax twice
on that money (that’s over 60% if you’re in the top brackets!).
2) If all your savings are tied up inside your 401(k) plan. Let’s say you’re
late 20’s/early 30’s making $60k/year and putting 8% into your 401(k).
Great start! Just be a little bit careful here about something - 401(k) and IRA
money usually carries a 10% penalty if you touch it before age 59½. A lot
of expenditures tend to come up between ages 30 and 60: buying a house,
getting married, having kids, paying for said kids to go to college… Paying a
10% penalty because all your savings are inside a 401(k) or IRA is not ideal.
The best thing to do is have a standard brokerage account alongside your
retirement savings. That way, your money is still working for you but is also
accessible penalty-free when needed.
The earlier you start investing and putting your money to work the better
off you’ll be down the road. Just make sure you’re not setting yourself up for
any unnecessary detours or roadblocks as you go.