Page 6 - Jupiter Ocean Mile- January '23

Page 6, Jupiter Ocean Mile
Financial Focus

Worried About Inflation? many part-time jobs are available for retirees. With the We’ll always have to deal with some level of inflation
– so it’s a good idea to be prepared.
added income from employment, you may be able to delay
Consider These Moves taking withdrawals from your retirement accounts and other This article was written by Edward Jones for use by
investments, possibly extending their longevity. (Once you your local Edward Jones Financial Advisor, Edward
By Sally Sima Stahl turn 72, though, you will need to begin taking money from Jones, Member SIPC.
As you know, inflation your 401(k) and traditional IRA.) Edward Jones is a licensed insurance producer in
was big news throughout • Delay taking Social Security. You can begin taking all states and Washington, D.C., through Edward D.
2022. But will it continue Social Security when you’re 62, but your monthly checks will Jones & Co., L.P., and in California, New Mexico and
in 2023? And looking even be substantially bigger if you wait until your full retirement Massachusetts through Edward Jones Insurance Agency
further ahead, how should age, which will likely be between 66 and 67. (You could of California, L.L.C.; Edward Jones Insurance Agency
you account for inflation in even wait until 70, at which point your monthly benefits of New Mexico, L.L.C.; and Edward Jones Insurance
your long-term plans? will max out.) Of course, the ability to delay taking Social Agency of Massachusetts, L.L.C.
In regard to the first Security depends on whether you can afford it, but it may Edward Jones, its employees and financial advisors
question, many experts be possible if you work longer than you once planned or if cannot provide tax advice. You should consult your
predict that inflation will cool you work part-time in retirement. But even if you do need qualified tax advisor regarding your situation.
off this year, though there are to take Social Security before your full retirement age, your Contact us at (561) 748-7600, Sally Sima Stahl, AAMS,
no guarantees. The high inflation of last year is thought to payments will be adjusted annually for inflation — in fact, 1851 W. Indiantown Road, Ste. 106, Jupiter, FL 33458.
have been caused by some unusual factors, such as a spike for 2023, benefit checks will rise 8.7 percent over 2022.
in the demand for consumer goods as the world came out of
the COVID-19 pandemic, which led to supply chain issues.
cost of manufacturing and shipping and driving up the price Experience Dentistry with a Woman’s Touch
Also, the war in Ukraine drove up oil prices, increasing the

of wheat and other commodities.
In any case, last year reminded us that inflation needs to
be reckoned with as you work toward your financial goals. Cosmetic & Comprehensive Restorative Dentistry
But how you respond to inflation will depend somewhat on
your stage of life. So, here are some suggestions to consider: State of the Art & Same Day Restorations
If you’re still working …
• Contribute more to your retirement plans. If you can Nitrous Oxide/Oxygen Sedation Available
afford to put more money away in your IRA and 401(k), you
may want to do so. The more resources you’ll eventually have
available in retirement, the better protected you are against Joanne Green, D.D.S.
the rising cost of living.
• Adjust your portfolio objectives with your financial 10887 N. Military Trail, Suite 6
professional. Using tools such as “hypothetical” illustrations, Palm Beach Gardens, FL 33410
a financial professional can show you some different paths
you might take with your investments, given different rates (561) 622-2815 • www.joannegreendds.com
of inflation. So, for example, if you feel that inflation may be
higher for a longer period than you once thought, you could Medical College of Virginia School of Dentistry - Cum Laude
request a hypothetical showing how you might need to adjust Hospital of the University of Penn - General Practice Residency Training
your investment mix to achieve your long-term goals, given Harvard Dental School - Former Instructor
your risk tolerance and time horizon. Boston Brigham and Women’s Dental Group - Staff Dentist
If you’re already retired …
• Consider part-time work or consulting. Once you retire
from your career, it doesn’t mean you can never do any paid
work again. If you’ve accumulated years of experience and
expertise, you could use your skills as a consultant. Also,

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