Page 2 - The Jewish Voice - May '23

Page 2, The Jewish Voice

Holocaust Learning Experience
Financial Focus from page 1 from page 1

payroll tax is another possibility for boosting funding to From Boca Raton to Jupiter, students
Social Security. and adults met with survivors and their
And here’s a political reality: Social Security is a popular descendants to take part together in
program and it’s unlikely that any future Congress wants powerful learning opportunities. Fourth
to be blamed for reducing benefits. Of course, there are no and fifth graders at the Edna Runner
guarantees, but it seems fair to say that you can reasonably Tutorial Center in Jupiter explored
expect some benefits from Social Security when you retire. bullying and resilience through stories
Perhaps the bigger issue is just how much you should from Holocaust survivor Rose Rosenkranz.
depend on Social Security for your retirement income. On “It was an eye-opener,” said Edna
average, Social Security benefits will provide about 30 Runner, executive director of the Edna
percent of a beneficiary’s preretirement earnings, according Runner Tutorial Center. “I learned
to the Social Security Administration. But the higher your something new about the Holocaust.
earnings before you retire, the lower the percentage that will Thank you for sharing with our Students at Edna Runner Tutorial Center after learning about bullying and
be replaced by Social Security. students. They were soaking in all the resilience from a Holocaust survivor
Still, you’ll want to maximize the benefits that are stories yesterday.”
available to you — and that means deciding when to start Rosenkranz, who was born in a slave labor camp in Siberia In the community, the Holocaust Learning Experience
taking Social Security. You can begin as early as 62, but after her parents were arrested fleeing the Nazis, also shared her presented two events at El Sol in Jupiter, and expanded
your monthly payments could be as much as 30 percent story with students in eighth grade at the Rosarian Academy. its arts and memorial making project inspired by The
lower than your normal (or “full”) retirement age, which In other school outreach, students enrolled in the Holocaust Butterfly Project to more participants. To date, more than
will likely be between 66 and 67. elective course at St. Andrews School in Boca Raton concluded 5,000 local students and adults have painted ceramic
Even if you were to wait until your full retirement age their semester in small breakout sessions with survivors Gary butterflies or wooden tiles while learning from survivors
before collecting Social Security, you’ll also need to draw Eichenwald, John Koenigsberg, and Marie Steinaway, as well or their descendants. Each butterfly is accompanied by
on other sources of funding. So, while you are still working, as Betty Schultz, a child of survivors. Sophomores, juniors, and biographical information about one of the 1.5 million
it’s a good idea to keep contributing to your IRA and 401(k) seniors at The Benjamin School are participating in a two-part children killed in the Holocaust.
or other employer-sponsored retirement plan. project. After interviewing survivors in March, the students Photo credit: Holocaust Learning Experience
The amount you contribute should depend on your will share their creative expressions of what they heard and
overall financial strategy and your financial needs, so, for learned with the survivors in April. Additional presentations
example, you probably shouldn’t put so much into your were held at The Greene School and Rosarian Academy.
retirement accounts that you feel significant stress in your
monthly cash flow. But when you do get a chance to invest
more in these accounts, such as when your salary goes up,
you may want to take advantage of the opportunity.
Ultimately, you should be able to count on Social
Security as part of your retirement income. You may want
to consult with a financial professional to determine when
taking Social Security makes the most sense for you and
how you can also get the most from your other retirement
accounts. You’ll want a retirement income strategy that’s
built for the long run.
By knowing exactly what to expect from Social Security,
including the tax effects, you can more effectively incorporate
your benefits into your overall retirement income planning – Survivors John Koenigsberg and Marie Steinaway, child of
and the better your plans, the more you’ll be able to enjoy A student takes part in the art project commemorating the survivors Betty Schultz, and survivor Gary Eichenwald share
your life as a retiree. This article was written by Edward 1.5 million children who died in the Holocaust. their experiences with students at in the community.
Jones for use by your local Edward Jones Financial Advisor,
Edward Jones, Member SIPC.
Edward Jones is a licensed insurance producer in
all states and Washington, D.C., through Edward D.
Jones & Co., L.P., and in California, New Mexico and
Massachusetts through Edward Jones Insurance Agency
of California, L.L.C.; Edward Jones Insurance Agency of
New Mexico, L.L.C.; and Edward Jones Insurance Agency
of Massachusetts, L.L.C.
Edward Jones, its employees and financial advisors
cannot provide tax advice. You should consult your qualified
tax advisor regarding your situation.
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