Scholar/Athlete of the Week
J.F. Robinson
Bedrooms • Living Rooms • Leather by Lane 75 Roy Edwards Lane • Mars Hill, NC 28754 (828) 689-4323
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Compare these monthly premiums! Tis week’s Scholar/Athlete of
the Week is North Buncombe High School senior Kristen Childers. Childers, 17, is a member of the BlackHawks girls’ soccer team. She will attend Appalachian
State in the fall, but has yet to fi- nalize a course of study. She owns a 4.25 GPA.
Financial Focus Invest in your mother’s future Mother’s Day is almost upon
us. Tis year, in addition to giving Mom some flowers and a card, why not brighten her day — and her fu- ture — by making a financial gift? Your first thought might be that
giving your mother a check may seem “tacky.” But these days, every- one can use a little extra cash. How- ever, you can find other types of financial gifts that can have a longer- lasting impact. Here are a few ideas to consider: • Help Mom fund her IRA. If your
mother is still working, she can con- tribute to an IRA — and she should. Either a traditional or Roth IRA is a great way to build tax-advantaged savings for retirement. Yet most people don’t fully fund their IRAs each year. In 2010, your mother can put in $5,000 to her IRA, or $6,000 if she’s 50 or older. While you can’t directly contribute to her IRA, you can write a check for that purpose. • Purchase an investment for
Mom. If you can afford it, consider giving a few shares of stock, possi- bly issued by companies that make products or services your mother uses. (If you give shares that you own, you’ll need to keep records of
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your initial sales price; this informa- tion will be useful to your mother if she ever sells the shares and needs to pay capital gains taxes.) If you think your mother could benefit from an increase in her cash flow, you might consider giving her a corporate or government bond, which can pro- vide regular interest payments. • Take care of a debt payment. The
lower your mother’s debt payments, the more she can put away for retire- ment. While you probably aren’t in a position to pay off all her debts, perhaps you could handle a car or credit card payment as a Mother’s Day gift. • Make a charitable gift in Mom’s
name. Your mother probably sup- ports many worthy causes — and a financial gift to any one of them, in her name, would probably please her greatly. Furthermore, your generos- ity may provide you with an imme- diate tax deduction, assuming the group to which you donate meets the tax deductibility guidelines es- tablished by the IRS. In fact, if you donated an appreciated asset, such as a stock, you could possibly get two tax breaks: a deduction on this year’s taxes and the avoidance of capital
gains taxes that will result from the eventual sale of an asset. Before do- nating this type of asset, though, consult with your tax advisor. • Provide Mom with some fi-
nancial education. If your mother doesn’t know much about invest- ing, you might get her a book on the topic. Or, better yet, if you have a financial advisor whom you trust, introduce him or her to your moth- er. Once your mother enters her pre- retirement and retirement years, she may have many issues — such as cash flow management, estate plan- ning and investing to stay ahead of inflation — for which she could use the help of a financial professional. Mother’s Day comes and goes in
a day — but by making the right type of financial gift to your mother, your generosity can be felt for years to come.
Tis article was written by Ed-
ward Jones for use by Bill Bough- ton, Weaverville’s local Edward Jones Financial Advisor. Edward Jones does not provide tax or legal advice. Specific questions regard- ing gifting should be referred to a qualified tax or legal professional.
Her parents are Claire and Scott Childers of Weaverville.
Bill Boughton of Edward Jones presented her with her award.
Correction Last week’s Scholar/Athlete of the Week was incorrectly identified.
Dillon Lackey was the North Buncombe recipient. We apologize for the mistake.
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Joe King, CSA, CLTC (828) 692-5555
The Weaverville Tribune TAX-FREE
With an Edward Jones Roth IRA, any earnings are tax-free, and distributions can be taken free of penalties or taxes.* You may even benefit from converting a traditional IRA to a Roth IRA.
* Distributions of earnings from a Roth IRA could be subject to taxes and a 10% penalty if the account is less than five years old and the owner is under age 59 1/2.
At Edward Jones, we spend time getting to know your goals so we can help you reach them. To learn more about why an Edward Jones Roth IRA can make sense for you, call or visit your local financial advisor today.
Bill Boughton, AAMS® Financial Advisor
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61 Weaver Boulevard Weaverville, NC 28787 828-645-0341
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INCOME IS THE BEST GIFT YOU CAN GIVE YOURSELF AT RETIREMENT.
May 6 - May 12, 2010 - THE TRIBUNE 5
Mom deserves the best seat in the house
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