Independence Day Financial Focus


Your financial Te Fourth of July is almost


upon us. To commemorate Inde- pendence Day, we shoot off fire- works, attend picnics and maybe even walk in parades. While it might not be as dramatic, another celebration of freedom should eventually play a big role in your life — specifically, your personal Financial Independence Day. And you can speed the arrival of this day by making the right moves. Here are a few ideas to con-


sider: • Boost your 401(k) contribu-


tions. To build the resources you’ll need to become financially inde- pendent during your retirement years, you should take full advan- tage of your 401(k) or other em- ployer-sponsored plan. Whenever your salary goes up, try to contrib- ute more to your 401(k). Generally, your contributions are made with pretax dollars, so the more you put in, the lower your taxable income. And your contributions grow on a tax-deferred basis. In 2010, you can put up to $16,500 into your 401(k), or $22,000 if you’re 50 or older. • “Max out” on your IRA. In


2010, you can contribute up to $5,000 to your IRA, or $6,000 if you’re 50 or older. Your traditional IRA contributions may be deduct- ible, depending on your income level, and your earnings can grow tax deferred. Contributions to a Roth IRA are never deductible, but earnings can grow tax free, pro- vided you don’t take withdrawals until you’re 59½ and you’ve held your account at least five years. • Build an emergency fund. Try


to build an emergency fund con- taining six to 12 months’ worth of living expenses, placed in a liquid account. Without such a fund, you may be forced to dip into your long-term investments to pay for needs such as a new furnace or a


big doctor’s bill — and the more you tap into your investments, the longer it will be until you can at- tain financial freedom. • Cut down on your debt. It’s


easier said than done, but by re- ducing your debt load, you’ll have more money to invest for the fu- ture. You might want to start by eliminating the smallest debts first, then moving on to whittle away at the bigger ones. • Don’t “over-focus” on your


investment statements. Obviously, you want to know how your in- vestments are performing. But you may be better off not check- ing on your investments every day, or even every week. When you pay extremely close attention to the movements of your investments, your emotions may lead you to make decisions based on short- term events rather than long-term goals. Invest with your head, not your heart. • Avoid “time traps.” Many


people know they need a certain amount of money at a certain time for a specific goal, such as a down payment on a home, the first col- lege tuition payment or even the first year’s living expenses dur- ing retirement. Yet they get into trouble because they set aside the money in an inappropriate invest- ment — that is, one whose price can fluctuate greatly. If you know when you’re going to need the money, put it in a lower-risk in- vestment and avoid the time trap. Taking these steps won’t in-


stantly enrich you. But eventually, they can lead you down the path to your personal Financial Inde- pendence Day — and that may be reason enough to celebrate.


Tis article was written by Ed-


ward Jones for use by Bill Bough- ton, Weaverville’s local Edward Jones Financial Advisor.


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Obituaries


Gladys Metcalf Deweese Barnardsville - Gladys Metcalf


Deweese, age 76, of 1683 Bar- nardsville Highway, died Sunday, June 27, 2010. Mrs. Deweese was born Dec. 9,


1933, in Unicoi County, Tenn., and was a resident of Buncombe County for most of her life. She loved to cook, garden and collect brass and owls. She was preceded in death by her parents, Dempsey and Ruby Phillips Metcalf; brother Ronald Metcalf; and sister Geneva Harris. Surviving are her husband of 56


years, Bobby Deweese; son Eddie Deweese and wife Rita of Weav- erville; daughter-in-law Ruth De- weese of Hendersonville; brother Richard and wife Patricia of Weav- erville; and grandson Jason Dew- eese and wife Megan. Her funeral service was held


at 2:30 p.m., Tuesday, June 29, 2010, in the Chapel of West Fu- neral Home, 17 Merrimon Ave., Weaverville, with Rev. Beverly W. Colombo officiating. Burial was in Holcombe Branch Cemetery. Te family received friends from


1:30 to 2:30 pm prior to the ser- vice. At other times, the family was at


the residence. Flowers were acceptable and ap-


preciated. westfamilyfuneralservices.com


Candler, died Wednesday, June 23, 2010. Mr. Hughey was born March 16,


1919, in Buncombe County and was a resident of Enka-Candler for most of his life. He served in the U.S. Army during World War II. Mr. Hughey retired in 1984 from Servco. He was the son of the late Elverett Lewis and Maggie Jane Sumner Hughey and husband to the late Lucille Greene Hughey. Surviving are his daughter, Shir-


ley Hughey Wallin and husband Jerome; grandson Nathaniel Jona- than Jones; step grandsons, Gary and Bryan Wallin, and Johnathan Madden. His funeral service was held


at 2:30 pm on Monday, June 28, 2010, in the Chapel of West Fu- neral Home, 17 Merrimon Ave., Weaverville, with Revs. Ebb Jen- kins and Richard Ploch officiating. Burial was in Ashelawn Gardens of Memory with full military rites by Mars Hill VFW Post #5483. Te family received friends from


4 pm to 6 pm on Sunday, June 27, 2010, at the funeral home. Memorials may be made to Flint


Hill Cemetery, Endowment Fund, 231 Hughey Road, Alexander, NC 28701. westfamilyfuneralservices.com.


Curtis Earl Price and Marie Callo- way Price. Surviving in addition to her par-


ents are a daughter, Summer Dawn Phillips and son Treavor Price, both of Marshall; brothers, Curtis Price (Pat), Gary Price (Deborah) and Daryl Price, all of Weaverville. Te funeral service was held at


7:30 pm Tursday, June 24, 2010, in Robbie Capps Memorial Cha- pel of Blue Ridge Funeral Service, Mars Hill. Te Rev. Jack Riddle officiated. Te family received friends from 6 pm - 7:30 pm prior to the service. A graveside service was held at 11 am Friday, June 25, 2010, at the Town of Marshall cemetery. In lieu of flowers memorials may


be made to: Blue Ridge Funeral Service, PO Box 27, Mars Hill, NC 28754 to assist the family with funeral expenses. Online condolences may be e-


mailed to the family at blueridge- funeral-service.com


Hal Blakley Presnell, Sr. Weaverville - Hal Blakley


Presnell Sr., 78, of Weaverville, died Sunday, June 27, 2010. Mr. Presnell was born Dec. 8,


1931, in Madison County. He for- merly lived in Burke County before moving back to Buncombe Coun- ty. He served in the U.S. Army during the Korean Conflict and re- ceived a Purple Heart. He was the son of the late James Milton and Edra Fisher Presnell. In addition to his parents, he was also preceded in death by his son, Farron Presnell, and brother Sam Presnell. Surviving are his daughters, Sa-


bra Rogers and husband Wayne of Weaverville, Sandra Cole and husband Chris of Asheville and Sonya Moffat and husband Richie of Asheville; sons, Hal B. Presnell Jr., and Anthony Presnell, both of Weaverville; sisters, Virginia Stines and husband, Dennis, of Alexander, and Marilyn Cunning- ham and husband R.L. of Weaver- ville; sister-in-law Faye Presnell of Asheville; mother of his children, Cecile Presnell of Weaverville; grandchildren, Sara Szabo, Dallas Moffat, and Alex Cole; and great- grandchild, Trevor Szabo. His funeral service was held at


11 am on Wednesday, June 30, 2010, in the Chapel of West Fu- neral Home, 17 Merrimon Ave., Weaverville. Burial was in Union Chapel Church Cemetery with military graveside rites. Flowers are acceptable and ap-


preciated. Memorials may be made to


Madison Manor Activity Fund, 345 Manor Road, Mars Hill, NC 28754 westfamilyfuneralservices.com


www.weavervilletribune.com


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