Page 6 - Jupiter West - October '18
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Page 6, Jupiter West
                                                         Financial Focus

        LIFE’s 25th Silver Jubilee from page 1

        exciting and glamorous evenings of the Palm Beach   Can You Benefit From An                        to consult with your tax advisor before withdrawing from
        social-philanthropic season and which has resulted in                                              your annuity.)
        history being made. In fact, the gala has helped create   Annuity?                                   • Income for life – You can take your annuity payout
        the American Veterans Disabled for Life Memorial,                                                  as a lump sum or choose to receive payments for a set
        the nation’s first, and only, permanent public tribute   By Sally Sima Stahl                       number of years, or for the rest of your life. Your income
        to the four million-plus living disabled American     Retirement isn’t cheap.                      amount will be determined by the value in your contract
        veterans and all those who have died, as well as helped   You may  have  heard that                and your life expectancy.
        establish a National Day of Honor every October 5   you will need 70 percent                         •  Death benefit – If your annuity is still in the
        just for them.                                   to 80 percent of your pre-                        “accumulation” phase at the time of your death (meaning
          For more information or to receive an invitation,   retirement income, but                       you haven’t yet begun collecting payments), it might
        please call (561) 582-8083 or email life@life-edu.org.   the real figure might even                provide a death benefit to the beneficiary you’ve
        Tickets start at $800 per person.                be higher, depending on                           named. Typically, this lump sum will be the greater of
        About Lois Pope, The Lois Pope LIFE Foundation,   your  circumstances. And                         your account balance or the total of all premiums paid,
        Inc., And LIFE (Leaders In Furthering Education)  retirement isn’t short,                          although some annuities provide additional options. Be
          As one of America’s leading philanthropists, Lois   either – you could spend                     aware, though, that the death benefit may be taxable.
        Pope has positively impacted the lives of individuals   two or three decades as a                    As is the case with all investments, a fixed annuity
        at the local, national and international levels. She has   retiree. Taken together, these factors highlight the need   does have some caveats. Most important, an annuity is a
        established three different organizations dedicated to   to identify as many sources of retirement income as   long-term investment – if you pull money out within the
        helping those in need – those who are disadvantaged,   possible – and one of these sources might be an annuity.  first several years after your purchase, you likely will
        marginalized, or forgotten because of disabilities,     A fixed annuity is an insurance product that allows   face some prohibitive surrender charges. These charges
        socio-economic status, neglect, age, abuse, and other   you to make a lump-sum investment and can provide   decline each year, typically reaching zero after seven
        barriers. They are the Lois Pope LIFE Foundation,   insured payments to you for a designated number of years,   years. Such withdrawals also may be subject to a market
        Leaders  in  Furthering  Education  (LIFE),  and  the   or for life. A fixed annuity guarantees a rate of interest   value adjustment.
        Disabled Veterans LIFE Memorial Foundation. Over   for a stated period that will be unaffected by market     One more thing to keep in mind: Different annuities
        the past quarter-century, she has been the driving   fluctuations. Your principal investment and the specified   come with different fees, and the higher the fee, the lower
        force behind the Lois Pope LIFE Center at the    interest rate are guaranteed based on the claims-paying   your “real” return will be. Consequently, you will want
        University of Miami School of Medicine: a summer   ability of the issuing company.                 to compare fees before investing.
        camp program serving thousands of disadvantaged     A fixed annuity offers some key benefits, including     If a fixed annuity is appropriate for your situation,
        children in Florida; a scholarship program for low-  the following:                                you may find it can join your other income pools –
        income students of enormous potential who desired to     • No contribution limit – No IRS contribution limits   Social Security, 401(k), IRA, etc. – to provide you with
        attend medical school and then go back to serve in their   apply to non-qualified annuities – that is, annuities held   the resources you need to enjoy the retirement lifestyle
        home communities; a program offering researchers   outside a tax-advantaged retirement plan, such as a   you’ve envisioned.
        with the means to pursue cutting-edge work in finding   defined benefit pension plan, Section 403(b) plan (TSA)     This article was written by Edward Jones for use by
        cures for terrible diseases; a clean water system in a   or an IRA. This can be especially valuable if you are   your local Edward Jones financial advisor. Edward Jones,
        Guatemalan village; an effort to aid refugee women in   already close to retirement age and think you might be   its employees and financial advisors cannot provide tax
        Sudan; an initiative that has resulted in nearly a dozen   short on savings.                       or legal advice. You should consult your attorney or
        ambulances in Israel; and numerous partnerships with     • Tax deferred accumulation – The interest you earn   qualified tax advisor regarding your situation.
        American Humane to expand rescue operations for dogs   is tax deferred and will compound annually, meaning     Call me for a free portfolio review at (561) 748-7600,
        (cats and other animals) victimized by natural disasters   your money may accumulate faster than it would if it   Sally Sima Stahl, AAMS, 1851 W. Indiantown Road, Ste.
        and horrific abuse, as well as those who have fought   were placed in a taxable investment. Earnings will be   106, Jupiter, FL 33458.
        alongside human soldiers on the front lines of Iraq and   taxed at your ordinary income rate once you start taking
        Afghanistan. Most recently, she made a $12 million   withdrawals, and withdrawals prior to age 59½  may be
        gift to establish the Lois Pope Center for Retinal and   subject to a 10 percent federal tax penalty. (You will want
        Macular Degeneration Research at the Bascom Palmer
        Eye Institute’s Palm Beach Gardens campus, the largest
        donation ever to the institute. She has also produced
        two documentaries with award-winning director Ric
        Burns highlighting the plights of disabled veterans in
        the U.S. – Debt of Honor and VA: The Human Cost of
        War. To learn more visit www.life-edu.org.








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