Page 14 - Martin Downs Bulletin - October '19

Page 14, Martin Downs

fiNaNCiaL foCus

Be Creative When any excess funds from your own retirement accounts. You But if you’d still like to support a charitable group and gain

Withdrawing From can give $15,000 per year, per recipient, without incurring potential tax benefits, you might want to consider moving
any gift taxes – an amount far higher than the current annual
some, or all, of your required distributions from your IRA
Retirement Accounts IRA contribution limit of $6,000 (or $7,000 for individuals to a charity. You can transfer up to $100,000 from your IRA
50 or older). in this type of qualified charitable distribution, thus meeting
By Bryce Buchanan, • Help your grandchildren pay for college. You might your RMD requirements without adding to your taxable
Edward Jones want to contribute to an investment specifically designed income. Furthermore, this move might keep you in a lower
Like many people, to build assets for college. A financial professional can help tax bracket. (Before making this transfer, though, you will
you may spend decades you choose which investments might be most appropriate. need to consult with your tax advisor.)
putting money into your Of course, if your grandchildren are already in college, you Your RMDs can contribute greatly to your retirement
IRA and your 401(k) or are free to simply write a check to the school to help cover income, but, as we’ve seen, they can do even more than
similar employer-sponsored tuition and other expenses. that – so use them wisely.
retirement plan. But • Help support a charitable organization. Due to recent This article was written by Edward Jones for use by your
eventually you will want to changes in tax laws, many individuals now claim a standard local Edward Jones financial advisor. Edward Jones, its
take this money out – if you deduction, rather than itemizing. As a result, there’s less of employees and financial advisors are not estate planners
must start withdrawing some an incentive, from a tax standpoint, for people to contribute and cannot provide tax or legal advice.
of it. How can you make the to charitable organizations.
best use of these funds?
To begin with, here’s some background: When you reaL esTaTe
turn 70½, you need to start withdrawals – called required
minimum distributions, or RMDs – from your traditional IRA
and your 401(k) or similar employer-sponsored retirement
plan, such as a 457(b) or 403(b). (A Roth IRA is not subject Treasure Coast Real Estate are quickly purchasing homes and condos, often as soon
to these rules; you can essentially keep your account intact as they hit the market. Sellers should reasonably expect
for as long as you like.) You can take more than the RMD, Report to sell a properly priced property in less than 60 days.
but if you don’t take at least the minimum (which is based Another phenomenon helping to sell real estate quickly
on your account balance and your life expectancy), you’ll Low Inventory And Low Interest Rates is of course the Internet. When I place a property into
generally be taxed at 50 percent of the amount you should Result In Properties Selling Quickly the MLS, about 50 other sites almost immediately get the
have taken – so don’t forget these withdrawals. data feed. Buyers often no longer need to wait for a real
Here, then, is the question: What should you do with the By Jim Weix estate agent to find the property for them. Many like to
RMDs? If you need the entire amount to help support your Hurricane Dorian was explore the market before calling their agent.
lifestyle, there’s no issue – you take the money and use it. coming straight for us and In fact, buyers can set up alerts on many sites. If a
But what if you don’t need it all? Keeping in mind that the I had just listed a condo buyer creates an alert for a certain type of property, they
withdrawals are generally fully taxable at your personal on Hutchinson Island. I will be immediately notified when that type of property
income tax rate, are there some particularly smart ways in rushed to put it into the goes on the market. The result can be a quick sale, as
which you can use the money to help your family or, possibly, Multiple Listing Service buyers know that they can’t “think about it” for a week
a charitable organization? (MLS) so that I could begin in today’s market.
Here are a few suggestions: the Florida tradition of Along with information about a new property on the
• Help your grown children with their retirement accounts. preparing my home for a market, buyers also have access to similar properties.
Your grown children may not always be able to afford to hurricane. They can see how it is priced compared to those other
“max out” on their IRAs. You might want to help them with As I was moving 200 properties that have actually sold and quickly decide if it
orchids to the safety of the garage, my phone dinged to is worth looking into further. The days of the uninformed
Southern Exposure Technologies inform me that an agent was showing the condo. I thought buyer, falling off the proverbial “cabbage truck as it came
Computer Install/Setup/Repair “You got to be kidding me!” through town” are gone. Today’s buyer is better informed
than ever before.
Then four hours later, as I was trying to figure out
(561) 315-0144 where to put the patio furniture, the agent called and told Jim Weix is a Broker Associate with The Keyes
getsetgo.annie@gmail.com me that she had just sent me an offer. I always thought Company. Jim has 24 years of experience selling real
* DSL, Broadband,Wireless Install hurricanes put a damper on real estate sales, but I guess estate full time. If you have questions or want the services
* Networking, Troubleshooting that no longer is the case in today’s market. of an experienced expert, you can reach Jim at (772)
* Instruction Thanks to a low inventory of properties for sale, 341-2941 or jimweix@jimweix.com.
* Hardware/Software Installation stabilizing prices, and very low mortgage rates, buyers
* Virus/Spyware/Adware Fix
* Cleanup/Maintenance/Backup CLeveLaND CLiNiC
* Business Consult/Startup/Move
* Website Design/Maintenance
Call S.E.T. to install your “new computer, printer
and wireless network”! marTiN heaLTh News
GET S.E.T. GO!
REASONABLE HOURLY, WEEKLY, MONTHLY RATES
FOR SMALL BUSINESSES FOR AS LOW AS $50.00 AN HOUR,
WITH A MINIMUM OF 6 HOURS A MONTH, the diagnostics center and laboratory right there is really
OR 2 HOURS A WEEK, OR ON AN AS-NEEDED One-Stop Healthcare
BASIS RATE OF $75.00 P/HOUR. exciting because in the future we will coordinate visits,
START YOUR NEW YEAR WITH SECURE BACKUPS, When the new Cleveland Clinic Family Health Center, so a patient might be able to have an early morning visit,
QUALITY MAINTENANCE, ATTENTION TO DETAIL AND Stuart opens this fall, patients will find a modern building then go down the hall for blood work.”
PERSONABLE ON-SITE SUPPORT! with state-of-the-art technology that creates a sense of She points to the bariatrics surgical weight management
(561) 315-0144
CALL S.E.T. TODAY FOR YOUR COMPUTER NEEDS! ease and convenience for patients and visitors. program as a perfect example of how the Family
The facility was created to provide access to multiple Health Center will provide a central location for care.
services under one roof. Medical offerings at 3801 S. “Eventually, patients may be able to see the doctor, the
Answer for Kanner Highway in Stuart will include an urgent care nurse and the dietician all in one day. There’s a classroom
especially intended for bariatrics and we can expand our
center, imaging services, a laboratory center and offices
Crossword Puzzle for physicians representing medical specialties, such as: vitamin sales program because there’s plenty of storage
for vitamins.”
• Family Medicine
• Internal Medicine Advanced technology at the Family Health Center
• Pulmonology includes 3-D mammography, 64-slice CT scanners, a
• Urology nuclear medicine camera and PET/CT. Other diagnostic
• General Surgeons testing services include bone density testing, cardiac Holter
• Vascular Surgeons monitoring, cardiac stress testing, echocardiograms,
• Concierge Medicine electrocardiograms, fluoroscopy, ultrasounds, vascular
• Bariatrics and Weight Management ultrasounds and X-ray.
Karen Ladwig, patient experience manager for Three X-ray rooms are adjacent to urgent care, so a
Cleveland Clinic Martin Health, says it is all part of an patient with a possible fracture would only have to cross
enhanced outpatient experience. a hallway for an X-ray. Gabriel Brooks, assistant vice
“Patients will receive collaboration from one president for Cardiovascular, Imaging and Interventional
department to the other and will feel behind-the-scenes Services, calls it, “an awesome opportunity to have
teamwork that puts patients first. We want to make sure outpatient services and physicians in the same building,
that courtesy and respect are felt at every single touch so it’s seamless for the patient.”
point in our health system, from the moment you are Ladwig agrees that the community will be well served,
greeted by a volunteer or a caregiver at a registration “The Family Health Center is made up of a collaborative
desk, to the way a physician provides your care. It’s how team of caregivers, providing healthcare to our extended
we would want people to treat our own family members.” family, which is our community.”
Amy Longar, director of Ancillary Services, appreciates For more information on the Family Health Center, go
the overall goal of providing one-stop healthcare. “Having to martinhealth.org/FHCstuart.