Page 10 - Jupiter West - November '19

Page 10, Jupiter West
Financial Focus

Be Creative When Withdrawing accounts. You can give $15,000 per year, per recipient, moving some, or all, of your required distributions from
without incurring any gift taxes – an amount far higher
your IRA to a charity.
From Retirement Accounts than the current annual IRA contribution limit of $6,000 You can transfer up to $100,000 from your IRA in this
(or $7,000 for individuals 50 or older). type of qualified charitable distribution, thus meeting
By Sally Sima Stahl • Help your grandchildren pay for college. You might your RMD requirements without adding to your taxable
Like many people, want to contribute to an investment specifically designed income. Furthermore, this move might keep you in a lower
you may spend decades to build assets for college. A financial professional tax bracket. (Before making this transfer, though, you will
putting money into your can help you choose which investments might be most need to consult with your tax advisor.)
IRA and your 401(k) or appropriate. Your RMDs can contribute greatly to your retirement
similar employer-sponsored Of course, if your grandchildren are already in college, income, but, as we’ve seen, they can do even more than
retirement plan. But you are free to simply write a check to the school to help that – so use them wisely.
eventually you will want cover tuition and other expenses. This article was written by Edward Jones for use by
Ribbon Cutting
to take this money out – if • Help support a charitable organization. Due to your local Edward Jones financial advisor. Edward Jones,
you must start withdrawing recent changes in tax laws, many individuals now claim its employees and financial advisors cannot provide tax or
some of it. How can you a standard deduction, rather than itemizing. As a result, legal advice. You should consult your attorney or qualified
make the best use of these there’s less of an incentive, from a tax standpoint, for tax advisor regarding your situation.
funds? people to contribute to charitable organizations. Call me for a free portfolio review at (561) 748-7600,
To begin with, here’s some background: When you But if you’d still like to support a charitable group and Sally Sima Stahl, AAMS, 1851 W. Indiantown Road, Ste.
turn 70½, you need to start withdrawals – called required gain potential tax benefits, you might want to consider 106, Jupiter, FL 33458.
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 to these rules; you can essentially keep your
account intact for as long as you like.) You can take more
than the RMD, but if you don’t take at least the minimum Ribbon Cutting
(which is based on your account balance and your life
expectancy), you’ll generally be taxed at 50 percent of
the amount you should have taken – so don’t forget these
withdrawals.
Here, then, is the question: What should you do with
the RMDs? If you need the entire amount to help support Welcome
your lifestyle, there’s no issue – you take the money and
use it. But what if you don’t need it all? Keeping in mind
that the withdrawals are generally fully taxable at your
personal income tax rate, are there some particularly smart
ways in which you can use the money to help your family Welcome
or, possibly, a charitable organization?
Here are a few suggestions:
• Help your grown children with their retirement
accounts. Your grown children may not always be able
to afford to “max out” on their IRAs. You might want to Ribbon Cutting
help them with any excess funds from your own retirement to the NEW Addington Place of Jupiter!
to the NEW Addington Place of Jupiter!
NEED A/C? We’ve Got You Covered!

And welcome to our Grand Re-Opening

Welcome
Recently, Cedarhurst Senior Living assumed management
“WE SHOW And welcome to our Grand Re-Opening
of the former Allegro Senior Living community in Jupiter.
UP!” Our home is now known as Addington Place of Jupiter.
Recently, Cedarhurst Senior Living assumed management

of the former Allegro Senior Living community in Jupiter.
This obviously calls for a celebration.
Our home is now known as Addington Place of Jupiter.
You’re invited to join the Palm Beach North Chamber of Commerce
to the NEW Addington Place of Jupiter!
as we cut the ribbon at our special Grand Re-Opening breakfast!
This obviously calls for a celebration.

And welcome to our Grand Re-Opening
Call Today for a FREE estimate! Tuesday, Nov. 19 | 8:30 a.m. • 1031 Community Drive | Jupiter
561.575.2173
231 Jupiter St., Jupiter, FL Please RSVP by Nov. 14 at (561) 202-6939 or jupiter@cedarhurstliving.com
Recently, Cedarhurst Senior Living assumed management
www.MiklosAir.com You’re invited to join the Palm Beach North Chamber of Commerce
of the former Allegro Senior Living community in Jupiter.
Our home is now known as Addington Place of Jupiter.
as we cut the ribbon at our special Grand Re-Opening breakfast!
Southern Exposure Technologies The name has changed, but it’s still business as usual.
Computer Install/Setup/Repair Addington Place will continue to provide maintenance-free living,
This obviously calls for a celebration.
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getsetgo.annie@gmail.com in the warm and picturesque setting of the Abacoa area of Jupiter! Of Jupiter
You’re invited to join the Palm Beach North Chamber of Commerce
Independent Living ~ Assisted Living ~ Memory Care
* DSL, Broadband,Wireless Install Tuesday, Nov. 19 | 8:30 a.m. • 1031 Community Drive | Jupiter
AddingtonPlaceJupiter.com
* Networking, Troubleshooting
* Instruction as we cut the ribbon at our special Grand Re-Opening breakfast!
* Hardware/Software Installation
* Virus/Spyware/Adware Fix
* Cleanup/Maintenance/Backup Please RSVP by Nov. 14 at (561) 202-6939 or jupiter@cedarhurstliving.com
* Business Consult/Startup/Move Tuesday, Nov. 19 | 8:30 a.m. • 1031 Community Drive | Jupiter
* Website Design/Maintenance
Call S.E.T. to install your “new computer, printer
and wireless network”! Please RSVP by Nov. 14 at (561) 202-6939 or jupiter@cedarhurstliving.com
GET S.E.T. GO!
REASONABLE HOURLY, WEEKLY, MONTHLY RATES
FOR SMALL BUSINESSES FOR AS LOW AS $50.00 AN HOUR, The name has changed, but it’s still business as usual.
WITH A MINIMUM OF 6 HOURS A MONTH, The name has changed, but it’s still business as usual.
Addington Place will continue to provide maintenance-free living,
OR 2 HOURS A WEEK, OR ON AN AS-NEEDED Addington Place will continue to provide maintenance-free living,
BASIS RATE OF $75.00 P/HOUR.
expert and compassionate caregiving, and amenities that matter
START YOUR NEW YEAR WITH SECURE BACKUPS, expert and compassionate caregiving, and amenities that matter
QUALITY MAINTENANCE, ATTENTION TO DETAIL AND in the warm and picturesque setting of the Abacoa area of Jupiter! Of Jupiter
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CALL S.E.T. TODAY FOR YOUR COMPUTER NEEDS! AddingtonPlaceJupiter.com
Independent Living ~ Assisted Living ~ Memory Care
AddingtonPlaceJupiter.com