Page 10 - Jupiter Spotlight - October '22
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Page 10, Jupiter Spotlight
       Financial Focus




      Should You Consolidate                               • Less likelihood of “lost accounts” – It may be hard to   overall retirement income strategies.
                                                         believe, but many people abandon their retirement accounts,
                                                                                                             • Greater ease in calculating RMDs – Once you turn 72,
      Retirement Accounts?                               leaving thousands of dollars behind and unclaimed.   you will need to start taking withdrawals — called required
                                                           In fact, at the end of 2021, there were nearly 25 million   minimum distributions, or RMDs — from your traditional
      By Sally Sima Stahl                                forgotten 401(k) accounts, worth about 20 percent of all   IRA and your 401(k) or similar plan. If you don’t take
        One of the rewards for                           401(k) assets, according to an estimate by Capitalize, a   out at least the minimal amount, which is based on your
      working over several decades                       financial services company that helps individuals roll over   age and account balance, you could face a penalty. If you
      is the ability to contribute to                    retirement plan assets into new accounts. It’s possible that   have several accounts, with different providers, it could
      tax-advantaged retirement                          employers can even move small, old accounts out of their   be cumbersome and difficult to calculate your RMDs — it
      accounts, which can help                           401(k) plans and into an IRA on behalf of their former   will be much easier with all accounts under one roof.
      provide needed income for                          employees, thus increasing the chances that savers will lose     So, if you do have multiple retirement accounts, give
      you when you do retire. As                         track of their money. By consolidating your retirement plans   some thought to consolidating them. The consolidation
      the years went by, you may                         with one provider, you can ensure you don’t lose track of   process is not difficult, and the end result may save you time
      well have accumulated several                      your hard-earned money.                           and hassles, while also helping you manage your retirement
      retirement accounts, such as                         • Ability to follow a unified strategy – With multiple   income more effectively.
      IRAs and 401(k)s or similar                        retirement accounts, and different investment portfolios,     This article was written by Edward Jones for use by
      employer-sponsored plans. But you might find it advantageous   you might find it difficult to maintain a unified financial   your local Edward Jones Financial Advisor, Edward
      to consolidate these accounts with a single provider.  strategy that’s appropriate for your goals and risk tolerance.   Jones, Member SIPC.
        Consolidating them can provide you with several potential   But once you’ve consolidated accounts with a single     Edward  Jones  is  a  licensed  insurance  producer  in
      benefits, including these:                         provider, you’ll find it easier to manage your investment   all states and Washington, D.C., through Edward D.
        • Less confusion and clutter – If you have multiple accounts   mix and to rebalance your portfolio as needed. The need   Jones & Co., L.P., and in California, New Mexico and
      in different locations, it may be difficult to keep track of tax   to rebalance may become more important as you near   Massachusetts through Edward Jones Insurance Agency
      documents, statements, fees, disclosures and other important   retirement because you may want to shift some of your   of California, L.L.C.; Edward Jones Insurance Agency
      information. Consolidating accounts could help provide clear,   assets into investments that aren’t as susceptible to swings   of New Mexico, L.L.C.; and Edward Jones Insurance
      simplified account maintenance.                    in the financial markets.                         Agency of Massachusetts, L.L.C.
                                                           •  Possible  improvement  in  investment  options –     Edward Jones, its employees and financial advisors
                                                         Often, 401(k)s may have limited investment selection,   cannot provide tax advice. You should consult your
        Helping                                          so consolidating accounts with a full-service firm may   qualified tax advisor regarding your situation.
                                                         allow for a wider array of products and strategies. This
                                                                                                             Contact us at (561) 748-7600, Sally Sima Stahl, AAMS,
        Unmotivated Teens                                broader exposure can potentially help you improve your   1851 W. Indiantown Road, Ste. 106, Jupiter, FL 33458.



        By Jim Forgan, Ph.D.,                             Experience Dentistry with a Woman’s Touch
        Licensed School
        Psychologist
          Unmotivated, lazy, not                                        Cosmetic & Comprehensive Restorative Dentistry
        applying himself, and not
        working to his potential                                              State of the Art & Same Day Restorations
        were words a mom used
        to describe her 16-year-                                             Nitrous Oxide/Oxygen Sedation Available
        old son as we discussed
        her concerns. This 11th
        grade adolescent seemed                                       Joanne Green, D.D.S.
        to be a lost soul since he
        did not care about school grades, was defiant at home,              10887 N. Military Trail, Suite 6
        and was pushing others away. Mom was concerned about               Palm Beach Gardens, FL 33410
        him and as she put it, “He doesn’t even realize how much
        he’s messing up now and how much it will come back to      (561) 622-2815 • www.joannegreendds.com
        haunt him later.” We decided to test him to help give her
        direction and determine if his struggles were due to an       Medical College of Virginia School of Dentistry - Cum Laude
        underlying disorder or something else. Testing revealed   Hospital of the University of Penn - General Practice Residency Training
        no learning disabilities, but the teen was depressed which           Harvard Dental School - Former Instructor
        was causing him not to care about now or later. Based on      Boston Brigham and Women’s Dental Group - Staff Dentist
        this information, mom obtained the right help for her son.
          Depression in teens is real and anxiety and depression
        often co-occur. These are mental health issues that do
        not go away on their own and can appear as your teen
        being agitated, unmotivated, disinterested, flippant,
        argumentative, withdrawn, and experimenting to fill an
        unmet void. If you suspect your teen has depression or
        anxiety, seek treatment. We offer testing to rule out other
        problems and determine the true issue. Alternatively, you
        can talk to your medical provider.
          Counselors offer support to teens willing to participate
        in the process. A type of effective counseling is cognitive
        behavioral therapy. This goal oriented counseling helps
        your teen reframe negative thinking and change thought
        processes which, in turn, change behavior. Counselors
        are available at psychologytoday.com or sfacc.net. If your
        teen is open to reading a self-help type of book check out
        the book, Make Your Bed: Little Things That Can Change
        Your Life…And Maybe The World or Anxiety Relief for
        Teens by Regine Galanti.
          If you have an unmotivated teen, call our office as
        we test children ages 5.5 through college for dyslexia,
        ADHD/ADD, depression, anxiety, and other processing
        disorders. Visit JimForgan.com or call (561) 625-4125.








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