Guests included Rotary Scholar, Alyssa Sharpf, who PP Chris Bradford introduced and told us she would soon be leaving for her studies abroad. Welcome and Good Luck to Alyssa!!

Announcements: The first District Breakfast for the new Rotary year will be August 24rth from 8-9am on ZOOM. You can sign up on the District 5280's website to receive the ZOOM log-in information.

Donations of gift cards, money and/or new clothing/shoes for school age children is now being accepted by PP Diane for the children at the Westwood Transitional Village. For any questions, please call PP Diane at 310-473-3667.

PP Diane returned to announce the birthdays for the month of August starting with hubby, Frank Smith (3rd), Vacharee Fell (8th), Gail Friedman (11th), Phil Gabriel (19th), Guin Lyster (20th) and, Jim Crane (30th). They will all pay their penalties for aging to our Treasurer, Terry M. White along with the wedding anniversary celebrants, the Gaynors (40years), Fells (41 years), Scherers (51 years), Fishers (7 years) and Terry M. White and Pat Sands (5 years)!. To round up to $200 in Happy dollars, Gail Smith agreed to pay the difference on behalf of her grandchildren returning to in-school learning!

PP Diane announced the Rotarians of the Month for July, PP Mark and Lynn Rogo for their willingness to bring the Club back together for an in-person get together on July 4rth and, for their overall ongoing service to the Club. Congratulations Everyone!!

With John O'Keefe having trouble connecting to ZOOM,PP Diane introduced our guest speaker, Frank McGinity, who received his MBA from Columbia, is a CPA , and a trustee of the Santa Barbara Art Association. He offered to share his "Tips for Growing Old Gracefully." His choice for a quotation was Dylan Thomas, "Do not go gentle into the night - Old Age should burn and rave a close of day."

TIP #1: If you enjoy your job, delay your retirement. If you're counting the days to retirement, quit now!! Let you mind continue to grow in connection with the world around you, especially as it relates to younger people, and changes in culture and technology.

TIP #2: Since 1970, the S&P 500 would have yielded a total of five times more than investing in bonds. Keep you bond percentage LOWER than the 50% or more that some advisors recommend. Bes sure you can endure the downswings in stocks without selling if you pursue this strategy (PP Dwight's advice).

TIP #3: DON'T pay off your mortgage. Rates are so low and the interest is deductible - INVEST that money!!

TIP #4: DON'T DOWNSIZE your California home!! Keep this large asset, which is leveraged by your mortgage and watch it inevitably rise in value. Why downsize to a smaller house when your residence has probably always been your best investment? You pay no current income taxes and your heirs will pay no capital gains tax on sale. Add a granny flat for yourselves and have someone else move in if you really want less room.

TIP# 5: DON'T keep cash in the bank! There must be a safe investment that pays more. CDs pay a NEGATIVE rate after inflation.

TIP# 6: Now for your "STUFF" - your KEEPSAKES. Your kids don't want any of it. Reduce the amount that is not sellable to near zero. McGinity was "fortunate" to lose all of his "STUFF" in the Montecito fire and flood.

TIP # 7: The most important and last tip. Do Not ENFEEBLE yourself!! Don't quit your daily chores-inside and outside. This is low-impact exercise for free. Control all that you can yourself. Stay engaged and optimistic. Take care of yourself.

When a person dies, it is like a library burning down and lost forever!!

YOPP Dwight