Page 6 - Jupiter West - May '23

Page 6, Jupiter West
Financial Focus

Can You Count On Social $147,000 in 2022 to $160,200 in 2023. And in looking The amount you contribute should depend on your
overall financial strategy and your financial needs, so, for
down the road, further increases in this earnings cap may
Security? also help reduce the gap in the trust funds. Increasing the example, you probably shouldn’t put in so much into your
payroll tax is another possibility for boosting funding to retirement accounts that you feel significant stress in your
By Sally Sima Stahl Social Security. monthly cash flow. But when you do get a chance to invest
If you’re getting closer And here’s a political reality: Social Security is a more in these accounts, such as when your salary goes up,
to retirement, you might be popular program and it’s unlikely that any future Congress you may want to take advantage of the opportunity.
thinking more about Social wants to be blamed for reducing benefits. Of course, there Ultimately, you should be able to count on Social
Security. Specifically, can are no guarantees, but it seems fair to say that you can Security as part of your retirement income. You may want
you count on it to contribute reasonably expect some benefits from Social Security to consult with a financial professional to determine when
part of the income you’ll when you retire. taking Social Security makes the most sense for you and
need as a retiree? But perhaps the bigger issue is just how much you how you can also get the most from your other retirement
There’s been an increase should depend on Social Security for your retirement accounts. You’ll want a retirement income strategy that’s
in alarming language income. On average, Social Security benefits will built for the long run.
surrounding the solvency provide about 30 percent of a beneficiary’s preretirement This article was written by Edward Jones for use by
of Social Security, but in earnings, according to the Social Security Administration. your local Edward Jones Financial Advisor, Edward
reality, its prospects are not nearly as gloomy as you But the higher your earnings before you retire, the lower Jones, Member SIPC.
might have heard. the percentage that will be replaced by Social Security. Edward Jones is a licensed insurance producer in
Here’s the story: Under current law, Social Security is Still, you’ll want to maximize the benefits that are all states and Washington, D.C., through Edward D.
estimated to exhaust its trust funds by 2035, after which available to you — and that means deciding when to start Jones & Co., L.P., and in California, New Mexico and
benefits could be cut by 20 percent, according to the 2022 taking Social Security. You can begin as early as 62, but Massachusetts through Edward Jones Insurance Agency
Social Security Trustees report. However, the large cost your monthly payments could be as much as 30 percent of California, L.L.C.; Edward Jones Insurance Agency
of living adjustment (COLA) (8.7 percent) for 2023 could lower than your normal (or “full”) retirement age, which of New Mexico, L.L.C.; and Edward Jones Insurance
cause the trust funds to use up their resources sooner. will likely be between 66 and 67. Agency of Massachusetts, L.L.C.
But this outlook may represent a worst-case scenario. Even if you were to wait until your full retirement Edward Jones, its employees and financial advisors
For one thing, the cost of the 2023 COLA will be age before collecting Social Security, you’ll also need to cannot provide tax advice. You should consult your
somewhat offset by higher taxes on workers contributing draw on other sources of funding. So, while you are still qualified tax advisor regarding your situation.
to Social Security. The maximum amount of earnings working, it’s a good idea to keep contributing to your IRA Contact us at (561) 748-7600, Sally Sima Stahl, AAMS,
subject to the 6.2 percent Social Security tax jumped from and 401(k) or other employer-sponsored retirement plan. 1851 W. Indiantown Road, Ste. 106, Jupiter, FL 33458.
Northern Notes

Grass Carp As Biological more can be added to While these fish are
replace them in about
an effective means of
Weed Control five to 10 years. aquatic plant control,
As t he na m e several factors must
By Katie Roundtree, implies, grass carp be considered before
Director of Finance and consume aquatic using them. Grass carp
Administration, plants and submerged are not picky eaters.
Northern Palm Beach grasses. Many aquatic They will generally
County Improvement plants that pose eat the undesirable
District problems in Florida plant species first.
Northern Palm Beach are exotic and have When those plants are
County Improvement few natural insect or disease controls; consequently, they unavailable, they will
District uses several frequently create problems with access, navigation, flood move onto any plant
methods of aquatic weed control, irrigation and aesthetics. Since chemical herbicides in the water body. Therefore, a limited number of fish
control in lakes and canals and mechanical removal are costly alternatives that often are introduced into the ecosystem so that the native fish
that we maintain. Some cause secondary issues, triploid grass carp can provide a also have plenty of food. They are intelligent and are
are more obvious, like chemical treatment or manually beneficial tool. They are most effective in lakes and deeper notorious for eluding capture if the population gets out
removing unwanted plants from the waterways. However, canals since they can grow 25 to 35 inches long and require of control. Careful program management is imperative
there is a lesser-known means that is relatively efficient a continual food supply. When introduced, they usually start to avoid consuming too many plants and disrupting the
and more long-term than other means. The grass carp, by consuming torpedo grass but then move on to hydrilla natural balance of plants and animals.
also known as white amur (Ctenopharyngodon Idella), and southern naiad. The grass carp is a grazer, feeding on Northern strives to maintain our lakes and canals
can effectively control unwanted plants in our lakes and vegetation near the surface and in shallower waters. The in optimal condition, allowing water to flow freely,
canals. The grass carp is native to large coastal rivers in new growth of underwater plants is preferred. Plant feeding especially during storm events. Biologic weed control
Siberia (Amur River) and China that flow into the Pacific depends on fish size, with small fish preferring grasses like is one method that is very effective under the right
Ocean. They are one of the largest members of the minnow musk grass and large fish preferring hardier plants such conditions. Stocking grass carp into our deeper lakes and
family. The back of the grass carp is silvery to dark grey as hydrilla and torpedo grass. Small fish will eat only the canals helps keep the aquatic weeds under control and
with large scales, and the sides of the body are lighter with leaves, but as they increase in size, they will eat both leaves water flowing.
a slightly golden sheen. The belly is silvery white, and the and stems. As adults, they consume large amounts of plant Source: University of Florida/ IFAS
fins are generally greenish-grey. The carp used in aquatic material. In suitably warm water, an adult grass carp will NPDES tip: Planting a rain garden with native plants
weed programs in Florida are triploid grass carp. Triploid consume its body weight in hydrilla daily. Because of their somewhere around your home helps lock rain water in
grass carp have three sets of chromosomes instead of the feeding behavior, they are used under special restricted the ground, reducing the flow of pollutants and poisons
usual two, which renders them functionally sterile. Triploids programs in our area to help manage aquatic plant problems. into the drains. Using organic fertilizers and pesticides
are produced artificially and cannot reproduce. Therefore, Florida Fish and Wildlife Commission requires a permit to in your garden further protects and brings health to your
only the fish introduced will remain for their life span, and stock lakes with grass carp. yard and all the species living there.
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