Page 9 - Jupiter West - July '18
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Jupiter West, Page 9
      Financial Focus

      What Should You Do With An                         These distributions are taxable at your regular income tax rate. If   investment choices. You can change the investments to align

      Inherited IRA?                                     you’ve inherited a Roth IRA, you also must take these minimum   with your goals and risk tolerance, both of which may change
                                                         payouts, but the amounts won’t count as taxable income, because
                                                                                                           over time.
                                                         your parents, or whoever left you the IRA, already paid taxes     • How does the inherited IRA fit in with my overall financial
      By Sally Sima Stahl                                on the contributions that went into it. (To make sure you fully   strategy? You’ll need to consider how your newly inherited
        Individual Retirement                            understand all the guidelines on distributions and taxation of   IRA fits in to the “big picture” of your financial strategy. Are
      Accounts (IRAs) are quite                          inherited IRAs, consult with your tax advisor.)   you adding redundancies? If you keep the inherited IRA largely
      popular. At the end of 2017,                         It’s also important to understand how your inherited IRA will   intact, how will it affect your current investment mix? Could the
      investors owned nearly                             fit in to your overall financial strategy. Consequently, you’ll need   added income from required distributions change your retirement
      $9 trillion in IRA assets,                         to address these questions:                       calculations or even enable you to retire earlier? You may want
      according to the Investment                          • How much should I take out each year? As mentioned above,   to consult with a financial professional about these and other
      Company Institute, a trade                         you must take a distribution of at least a minimum amount from   questions related to your inherited IRA.
      association of United States                       your inherited IRA each year – if you don’t, you may be subject     The person who left you an IRA worked hard for that money
      investment companies. Given                        to a 50 percent penalty on the amount you should have taken. But   and thought enough of you to pass it on. Consequently, you’ll
      these numbers, it probably                         you can take out more than the minimum. In deciding how much   want to respect this inheritance – and get the most out of it for
      wouldn’t be surprising if you                      to take, you’ll need to evaluate a few factors. First, of course, is   as long as you can.
      inherited an IRA someday. But what should you do with it?  whether you need the extra money to help support your regular     This article was written by Edward Jones for use by your
        First of all, you’ll need to be aware of some basic rules. If   cash flow. It’s possible you have other pools of income from   local Edward Jones financial advisor.
      your parent, or anyone other than your spouse, leaves you a   which to draw, and, in some cases, it may be advantageous for     Edward Jones, its employees and financial advisors are not
      traditional IRA – one in which contributions are typically tax-  you to tap these sources first. Another consideration is taxes – if   estate planners and cannot provide tax or legal advice. You
      deductible and earnings can grow tax-deferred – you can transfer   you’ve inherited a traditional IRA, the more you take out each   should consult your estate-planning attorney or qualified tax
      the money into an “inherited IRA,” from which you’ll need to   year, the bigger your tax bill may be.   advisor regarding your situation.
      take at least a minimum amount of money – technically called     • Should I keep the same investments? Inheriting an IRA     Call me for a free portfolio review at (561) 748-7600, Sally
      a “distribution” – each year, based on your life expectancy.   doesn’t mean you’re stuck with the original account owner’s   Sima Stahl, AAMS, 1851 W. Indiantown Road, Ste. 106, Jupiter,
                                                                                                           FL 33458.
                                                 i                                                         Tap Into A New
            Local Networking Group Seeks New Members

          The local Palm Beach Business Associates (PBBA), a 50-member strong business                     Talent Pool With
        networking  group that  meets weekly  in  the  Abacoa Golf Club,  is seeking new

        additions to their group such as a pool company, physician, dry cleaner, party                     The Arc
        planner, veterinarian, plumber, pest control service, virtual assistant and others. Each
        Wednesday from 7:30 to 8:45 a.m., members meet for a full breakfast and refer each                 Job-A-Palooza!
        other business leads. There are several categories open and you can visit the group for
        a complimentary breakfast by calling Club President Melissa DeStio, (772) 285-2770.                Calling Local Businesses
                                                                                                             The Arc of Palm Beach County wants to partner with local
        The PBBA web site is                                                       businesses and organizations to help build bright futures for
                                                                                                           young people with disabilities. Job-A-Palooza is a fast-paced
                                                 i                                                         job training event that gives candidates the opportunity to learn
                                                                                                           about possible careers, and employers the chance to explore
                                                                                                           an untapped pool of applicants.
                                                                                                             Job-A-Palooza is Thursday, Aug. 9, from 10 a.m. to 3
                                                                                                           p.m. at the Palm Beach Gardens campus of Palm Beach State
                                                                                                           College: 3160 PGA Blvd., Palm Beach Gardens, Fla. The Arc
                                                                                                           is looking for companies to join Publix, Pratt Whitney, Otis
                                                                                                           Elevator, and The Gardens Mall in supporting our community.
                                                                                                             The event, which is funded through Vocational Rehabilitation
                                                                                                           (VR), gives students ages 14 to 21 early job training. Each
                                                                                                           company will choose a task for applicants to complete, then
                                                                                                           judge them on the quality or speed of their performance,
                                                                                                           depending on the task. For example, a candidate may be asked
                                                                                                           to stock inventory for a store or detail a vehicle for a car wash.
                                                                                                           Each applicant will choose at least five businesses and have
                                                                                                           a peer mentor to help them complete their job tasks.
                                                                                                             “We are looking for businesses to partner with us to help
                                                                                                           promote acceptance in the workplace, while building future
                                                                                                           careers,” said Kimberly McCarten, CEO and president of The
                                                                                                           Arc of Palm Beach County. “We have young people who are
                                                                                                           eager to learn, and excited about earning an income. This event
                                                                                                           is a fun way for applicants and employers to get acquainted.”
                                                                                                             Job-A-Palooza is just one approach The Arc of Palm Beach
                                                                                                           County uses to help people with developmental disabilities
                                                                                                           enter the workforce. The Employment Services Program offers
                                                                                                           job seekers guidance throughout the year, and ongoing support
                                                                                                           for those who are hired. Employment specialists partner with
                                                                                                           businesses to discover and help create career opportunities.
                                                                                                             To get involved with Job-A-Palooza, or any of the programs
                                                                                                           at The Arc of Palm Beach County, please visit or
                                                                                                           call (561) 842-3213.
                                                                                                           About The Arc Of Palm Beach County
                                                                                                             The Arc of Palm Beach County has been improving the
                                                                                                           lives of children and adults with developmental disabilities,
                                                                                                           and their families, through services, education, and advocacy
                                                                                                           since 1958. The Arc supports programs throughout Palm
                                                                                                           Beach County that reach more than 2,800 families each year.
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