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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