_ ____________ ___________ ___________ ___________ ___________ ___________ __________ _ _ _ ____________ ___________ ___________ ___________ ___________ ___________ __________ Russ Jablonsky, AAMS Financial Advisor 739 Clark St., Medford 715 748 6366 FINANCIAL FOCUS _ ____________ ___________ ___________ ___________ ___________ ___________ __________ Key Decisions For Retired Couples _ ____________ ___________ ___________ ___________ ___________ ___________ __________ • Should you downsize? If you live in a big home and your children are grown, you may find it economical to downsize. Of course, this is also an emotional decision, but you may find that you can save money by moving into a smaller home. • Where should you live? Some states are far more expensive to live in than others. You’ll want to weigh your decision carefully, considering the cost of housing, food, income and real estate taxes, transportation and health care in whatever state you choose. • Have you finished your estate plans? If not, now is the time. You’ll want to work with your legal professional to create whatever documents are needed — a will, living trust, power of attorney — to help ensure your assets go where you want them to go, and that your financial and health care choices will be protected if you become physically or mentally incapacitated. Of course, many of these same issues will apply if you are single, divorced or widowed. But if you are married, you and your spouse will want to discuss all your choices and then decide which steps to take. Once you’ve got your plans in place, you may well find that you can fully enjoy your retirement years. Once you and your spouse retire, you’ll have some decisions to make — decisions that could affect your quality of life in your retirement years. What are these choices? Here a few of the most important ones: • How much should you withdraw from your retirement accounts? By the time you retire, you may have contributed for decades to an IRA and a 401(k) or similar employersponsored retirement plan. But once you retire, you’ll probably need to draw on these accounts to help pay your living expenses. Consequently, both of you will need to be sure that you don’t withdraw so much each year that you risk running out of money later in your retirement. One common guideline is to aim for an annual withdrawal rate of 4%, but everyone’s situation is different based on age, pre-retirement income, lifestyle, health, travel plans and other factors. (Once you turn 73, or 75 if you were born in 1960 or later, you will have to take certain amounts, based on your age and account balance, from your traditional IRA and traditional 401(k) each year.) • When should you take Social Security? The answer to this question depends on many factors, such as your age and other sources of income. You can take Social Security as early as age 62, but your monthly payments will typically be bigger if you wait until your full retirement age, which will be age 67 if you were born in 1960 or later. And if you can afford to wait even longer, your payments will “max out” when you reach age 70. Your decision on when to take Social Security can affect your spouse — and vice versa. If the lower-earning spouse claims Social Security before their full retirement age — again, age 67 — their own retirement benefit and any potential spousal benefit will be reduced. (Spousal benefits are given to the lower-earning spouse if their full retirement benefit is less than half the other spouse’s full retirement benefit.) This article was written by Edward Jones for use by your local Edward Jones Financial Advisor. Edward Jones, Member SIPC Edward Jones, its employees and financial advisors cannot provide tax or legal advice. You should consult your attorney or qualified tax advisor regarding your situation. Making Sense of Investing 165504 _ ____________ ___________ ___________ ___________ ___________ ___________ __________ _ _ _ ____________ ___________ ___________ ___________ ___________ ___________ __________ Russ Jablonsky, AAMS Financial Advisor 739 Clark St., Medford 715 748 6366 FINANCIAL FOCUS _ ____________ ___________ ___________ ___________ ___________ ___________ __________ Key Decisions For Retired Couples _ ____________ ___________ ___________ ___________ ___________ ___________ __________ • Should you downsize? If you live in a big home and your children are grown, you may find it economical to downsize. Of course, this is also an emotional decision, but you may find that you can save money by moving into a smaller home. • Where should you live? Some states are far more expensive to live in than others. You’ll want to weigh your decision carefully, considering the cost of housing, food, income and real estate taxes, transportation and health care in whatever state you choose. • Have you finished your estate plans? If not, now is the time. You’ll want to work with your legal professional to create whatever documents are needed — a will, living trust, power of attorney — to help ensure your assets go where you want them to go, and that your financial and health care choices will be protected if you become physically or mentally incapacitated. Of course, many of these same issues will apply if you are single, divorced or widowed. But if you are married, you and your spouse will want to discuss all your choices and then decide which steps to take. Once you’ve got your plans in place, you may well find that you can fully enjoy your retirement years. Once you and your spouse retire, you’ll have some decisions to make — decisions that could affect your quality of life in your retirement years. What are these choices? Here a few of the most important ones: • How much should you withdraw from your retirement accounts? By the time you retire, you may have contributed for decades to an IRA and a 401(k) or similar employersponsored retirement plan. But once you retire, you’ll probably need to draw on these accounts to help pay your living expenses. Consequently, both of you will need to be sure that you don’t withdraw so much each year that you risk running out of money later in your retirement. One common guideline is to aim for an annual withdrawal rate of 4%, but everyone’s situation is different based on age, pre-retirement income, lifestyle, health, travel plans and other factors. (Once you turn 73, or 75 if you were born in 1960 or later, you will have to take certain amounts, based on your age and account balance, from your traditional IRA and traditional 401(k) each year.) • When should you take Social Security? The answer to this question depends on many factors, such as your age and other sources of income. You can take Social Security as early as age 62, but your monthly payments will typically be bigger if you wait until your full retirement age, which will be age 67 if you were born in 1960 or later. And if you can afford to wait even longer, your payments will “max out” when you reach age 70. Your decision on when to take Social Security can affect your spouse — and vice versa. If the lower-earning spouse claims Social Security before their full retirement age — again, age 67 — their own retirement benefit and any potential spousal benefit will be reduced. (Spousal benefits are given to the lower-earning spouse if their full retirement benefit is less than half the other spouse’s full retirement benefit.) This article was written by Edward Jones for use by your local Edward Jones Financial Advisor. Edward Jones, Member SIPC Edward Jones, its employees and financial advisors cannot provide tax or legal advice. You should consult your attorney or qualified tax advisor regarding your situation. Making Sense of Investing 165504
The top 30 essays were selected from among all 8th graders at Medford Area Middle School. Student essays placing 16 to 30 received a $20 Chamber Gift Certificate and recognition certificate along with a laminated copy of their essay. Honorees were (in alphabetical order): Sada Carstensen, Kinnley Gowey, Autumn Hartl, Braxton Larson, Graecyn Meseberg, Coraline Neitzel, Oliver Nuernberger, Steven Parkinson, Natalie Pomeroy, Melanie Richter, Renae Rymer, Avery Sigmund, Emma Steinke, Gracie Strama and Maggie Wallace-Szydel. BRIAN WILSON/THE STAR NEWS
Price County Administrator Paul Trimner explained his duties to members of the Taylor County ad hoc administrative committee on April 4. BRIAN WILSON/ THE STAR NEWS
Taylor County clerk Andria Farrand, along with chief deputy clerk Casey Belgram and additional members of the Board of Canvass sat down to cross reference April election results for accuracy at the courthouse on Tuesday afternoon. MANDEE ELLIS/THE STAR NEWS
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