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Financial Focus For whom are you investing? You may, on occasion, ask
yourself why you are investing. Why go through the f luctua- tions of the financial markets, the worry over interest rate movements, the fears of today
and the uncertainties of tomor- row? To answer this question, you
may need to ask yourself one more: For whom am I investing? Consider the following: You’re investing for yourself. It
sounds selfish, but it’s not. You may be investing in your 401(k), IRA and other investment ac- counts so that you can enjoy a comfortable retirement lifestyle after working your entire adult life. But you’re also investing so that you can become financially independent — free of worries that you’ll become a burden to your grown children or other family members. And given the real possibility of spending two, or even three, decades in an ac- tive retirement, it’s imperative that you put as much as you can possibly afford into those in- vestment vehicles that can help you pursue your financial inde- pendence. You’re investing for your family.
If you have children or grand- children, you may well want to help them pay for college. And, as you know, college has gotten much more expensive in recent years, so you’ll need to save and invest from the time your chil- dren are very young, and you’ll need to choose the right invest- ment accounts, such as a 529 college savings plan or a Cover- dell Education Savings Account. But you’ll also need to think about other family members, too. Have you built up enough in your retirement accounts so that the money would be suffi- cient to support your surviving spouse should anything happen to you? Will you have enough financial resources to help sup- port your elderly parents should they require assistance? And will you be able to leave the type of legacy you desire? As you can see, when you’re investing for your family, you’ve got a lot to consider. You’re investing for your be-
liefs. Throughout your working years, you may try to give as much money as you can to those charitable organizations whose work you support. Yet you may
Library to screen film Te classic Italian neo-realist film “Umberto D” will be screened at 7 pm
on Tuesday (Aug. 10) at Weaverville Library. Directed by Vittorio De Sica, shot on location in Rome in 1952 and star-
ring a cast of non-professional actors, the film tells the story of an elderly pensioner trying to survive in a time and place where human kindness and the forces of modernization clash. A short discussion will follow the film. Te Weaverville Library Friends is sponsoring the event. For more information call the library at 250-6482.
wish you could do even more. And eventually, you may be able to do more. For example, if you hold an investment for many years and then sell it, you’ll have to pay capital gains taxes on any increase in value — and the cap- ital gains tax rate of the future may not be as low as it has been over the past several years. But if you were to give the appreciated asset to a charitable organiza- tion, you could avoid paying the capital gains tax, because the organization would be the one that eventually sold the asset. Plus, you might even get a cur- rent income tax break for your contribution. You might also want to include charitable or- ganizations in your estate plans, after consulting with your attor- ney or other estate tax advisor. As you can see, you’ve got
some “key constituencies” counting on you. By keeping them in mind, you should have the motivation you need to overlook the day-to-day ups and downs of investing — while you keep your focus on your impor- tant long-term goals.
This article was written by
Edward Jones for use by Bill Boughton, Weaverville’s local Edward Jones financial advi- sor.
Edward Jones, its employ-
ees and financial advisors are not estate planners and can- not provide tax or legal ad- vice. Consult a qualified tax specialist or attorney for pro- fessional advice about your situation.
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12 THE TRIBUNE - August 5 - August 11, 2010
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