Page 10 - Jupiter Spotlight - July '19

Page 10, Jupiter Spotlight

Financial Focus Jupiter Senior Softball

Fixed Annuity Could Jupiter Senior Softball players paid tribute on Wednesday and Friday morning at 8:30 a.m. at Jupiter
Memorial Day to our nation’s fallen military heroes.
Community Park. A winter league runs from January
Help Extend Lifespan Of Participants removed their caps and held a minute of through March 2020.
Players of all skill levels are welcome. For information,
silent reflection and prayer as a rendition of the solemn
Retirement Accounts Taps bugle melody played. call Dave Summers at (561) 800-8230. Persons also can
register at www.leaguelineup.com/jssa.
Thirty-six players, many of them veterans of various
By Sally Sima Stahl branches of the Armed
It’s almost impossible Forces, gathered in front
to save too much for of a large American flag to
retirement. After all, honor all men and women
you could spend two, or of the military who died in
even three, decades as a past wars to preserve our
retiree. And retirement nation’s freedom. Army
is not cheap – even if veteran Ron Nolan, who
you maintain a relatively saw combat in Vietnam,
modest lifestyle, some of provided the Taps musical
your expenses, especially recording for the ceremony.
those involving health The Jupiter Senior
care, may continue to rise over the years. Consequently, Softball program is open
you will need several sources of reliable income – one to men 55 and older. New Memorial Day tribute for all servicemen and women who died for our country
of which might be a fixed annuity. players are invited to
Fixed annuities are essentially contracts between register for the 2019/20
investors and insurance companies. When you purchase season that began this past
a fixed annuity, the insurer will guarantee the principal April 1. Games are year-
and a minimum rate of interest. This means the money round, every Monday,
you invest in a fixed annuity is designed never to drop in
value. (However, this guarantee is based on the claims-
paying ability of the insurer that issues the annuity.)
You can structure a fixed annuity to pay you for a
certain number of years or for your entire lifetime, which
is the route many people choose. This is advantageous
not only because of what it provides you – income for
life – but because it also may allow you to take out less
money each year from your other retirement accounts.
Here’s some background: Once you turn 70½, you Enjoying a rest in the shade between innings are, left to right: Arthur Sturm, Bill Burns,
are required to begin taking withdrawals from your Ron Seely, Dave Summers, Duke Barwick, Larry Kruh, Mike Igneri and Scott Rosenstock.
traditional IRA and your 401(k) or similar employer-
sponsored retirement plan. (This requirement does not 27 Year old Networking Group has 47
apply to Roth IRAs.) You must take out a minimum
amount, based on your age and account balance, but you members that want to refer business to you!
are free to exceed that amount each year. But the more
you withdraw from these accounts, the faster they are Where: Abacoa Golf Club
likely to be depleted. So, when you reach retirement,
it’s a good idea to establish an appropriate annual When: Wednesday morning from 7:30 am - 8:45 am
withdrawal rate, based on your retirement plan balances, Who: Visit our website to see if your category is available.
Social Security, lifestyle, longevity expectations and
other factors. You may want to work with a financial
professional to determine a withdrawal rate that’s
suitable for your needs. Interested? Join us for a complimentary breakfast to nd out more.
If you can count on the income from a fixed annuity, Call Marc Weinberg at 561-262-4724
you might be able to take out less each year from your
traditional IRA and 401(k), giving these accounts more
tax-deferred growth opportunities. Plus, if you don’t The Palm Beach’s premier exclusive networking www.pbbainc.org
withdraw all the money from these accounts during your organization for extraordinary business owners.
lifetime, you can include the remainder in your estate
plans.
A fixed annuity’s potential to help you extend the
lifespan of your IRA and 401(k) can clearly be of value
to you. Still, a fixed annuity does carry some issues about CAMPBELL AND KARLIK, P.A.
which you should be aware, such as surrender charges
for early withdrawals, along with other fees. Also, if ATTORNEYS AT LAW
you take withdrawals before you reach 59½, you likely
will face a 10 percent penalty. And annuities can have
tax implications, so before you start taking withdrawals,
you will want to consult your tax advisor. Wills • Trusts • Estate Planning • Probate
Is a fixed annuity appropriate for you? There’s really Taxation • Real Estate • Corporations
no one correct answer because everyone’s situation is
different. However, if you consistently max out your IRA
and 401(k) contributions, and you still have money left
to invest for retirement, you might want to think about an
annuity. An income stream you can’t outlive – and that
may help you protect your other retirement accounts – is
worth considering.
This article was written by Edward Jones for use
by your local Edward Jones financial advisor. Edward
Jones, its employees and financial advisors cannot
provide tax or legal advice. You should consult your
attorney or qualified tax advisor regarding your
situation.
Call me for a free portfolio review at (561) 748-7600,
Sally Sima Stahl, AAMS, 1851 W. Indiantown Road, Ste.
106, Jupiter, FL 33458.

Diane L. KarLiK
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Tel: (561) 625-5220
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or call 746-3244 Palm Beach Gardens, FL 33403 EMail: dlkarlik@aol.com