Financial Focus
Retirees must make (at least)
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five key financial decisions
JASON’S AUTOCARE
When you’re working, you have investment portfolio to provide tially increase in value. If you have
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a financial strategy that is largely sufficient income and growth op- a tax-free account, such as a Roth
based on one goal: saving money for portunities? Clearly, you’ll need IRA, save it for last to maximize the
a comfortable retirement. You’ll like- your investments to provide a source compounding on money on which
37 Reems Creek Rd.
ly have to make many adjustments of income during your retirement you will never pay taxes. (Roth IRA
Weaverville, NC 28787
over several decades to ensure that years. At the same time, you will earnings grow tax-free if you’ve had
you stay on track saving and invest- need some growth potential to over- your account at least five years and
ing. But once you retire, a new goal come the effects of inflation, which you don’t begin taking withdrawals
828.645.9100
arises — investing so you can remain can erode your purchasing power. until you’re at least 59-1/2.) That
retired. To help yourself achieve this Consequently, you will need a mix said, this is just a rule of thumb.
goal, you will need to make a num- of income- and growth-oriented • When should you take Social Nationwide
ber of investment decisions. investments, with the proportions Security? You can begin taking
Which of these decisions are depending on your risk tolerance Social Security as early as age 62,
Warranty
most important? Here are five to and your lifestyle. but your monthly checks will be
consider: • How much should you withdraw considerably larger if you wait until jasonsautocare.mechanicnet.com
• How much will you spend each each year from your investment port- your “normal” retirement age, which
year? Before you can pursue an ap- folio? The answer depends on several is likely 65 or 66. But if you need
propriate investment strategy, you’ll factors, including your retirement the money, you may be better off by
need to know about how much you’ll lifestyle, the size and performance taking Social Security at 62 and giv-
spend each year. Estimate your costs of your investment portfolio, infla- ing your tax-deferred accounts more
Deja Vu
for housing, food, travel, entertain- tion, your estimated life expectancy time to potentially grow.
ment, insurance, gifts — everything. and the size of the estate you’d like As you can see, you’ll need a lot Women's & Childrens
Keep in mind that your expenses will to leave. This decision is important, of expertise to successfully manage
Consignment Boutique
likely change annually, especially because the amount you withdraw your financial and investment situa-
for items such as health care. Don’t each year will directly affect how tions during retirement. If you don’t
828-645-7221
forget about inflation, which will long your money lasts. already work with a financial advisor Open 10 - 5 Mon - Fri, 10 - 4 Sat
likely cause your expenses to increase • From which accounts should you and a tax professional, now would Forks of Ivy Plaza 901-6 Old Mars Hill Hwy.
over the years. begin taking withdrawals? You may be a good time to start. Once you’ve
• How should you balance your have built three different types of got your financial strategy in place,
accounts: taxable, tax-deferred and you’ll be better prepared to enjoy an
tax-free. It may be a good idea to active, fulfilling retirement.
take withdrawals from your taxable
accounts first, thereby allowing your This article was written by Ed-
tax-deferred accounts, such as your ward Jones for use by Bill Bough-
Traditional IRA and your 401(k), ton, Weaverville’s local Edward
more time to compound and poten- Jones Financial Advisor.
Soup kitchen
Woodfin Fire
at UMC
Annual Meeting
The Woodfin Fire Department
Weaverville United Methodist
Board of Directors will hold their an-
Church will host a soup kitchen at
nual meeting on Thursday, March
6 pm on every Thursday during the
12 at 7:00 pm at the Woodfin Fire
month of March. The kitchen will
Department. Two members will be
be held in the fellowship hall across
elected to the Board of Directors at
the street from the church on North
this meeting.
Main Street in Weaverville.
McCurry’s
Heavy Truck Repair
Specializing in: Brakes • Clutches • Drivetrain • Suspension
Preventive Maintenance • Engine and Transmission Repair •
Air Hydraulic Service • Heat and Air Conditioning
We now do in-house walking beam bushing repair.
Take beams out, press in new bushings,
and re-install beam. Same day service.
Competitive pricing, no more traveling out of state.
We also repair diesel pickups
Keith McCurry -Owner
828-658-1070
51 Ray Hollar Road
Weaverville, NC 28787 Mobile 828-230-7326
www.weavervilletribune.com
Mar 5 - 11, 2009 THE TRIBUNE 11
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