Page 22 - Abacoa Community News - October '22

Page 22, Abacoa
Financial Focus

Should You Consolidate believe, but many people abandon their retirement accounts, you will need to start taking withdrawals — called required
• Greater ease in calculating RMDs – Once you turn 72,
• Less likelihood of “lost accounts” – It may be hard to
Retirement Accounts? leaving thousands of dollars behind and unclaimed. minimum distributions, or RMDs — from your traditional
In fact, at the end of 2021, there were nearly 25 million IRA and your 401(k) or similar plan. If you don’t take out
By Sally Sima Stahl forgotten 401(k) accounts, worth about 20 percent of all at least the minimal amount, which is based on your age and
One of the rewards for 401(k) assets, according to an estimate by Capitalize, a account balance, you could face a penalty. If you have several
working over several decades financial services company that helps individuals roll over accounts, with different providers, it could be cumbersome
is the ability to contribute to retirement plan assets into new accounts. It’s possible that and difficult to calculate your RMDs — it will be much easier
tax-advantaged retirement employers can even move small, old accounts out of their with all accounts under one roof.
accounts, which can help 401(k) plans and into an IRA on behalf of their former So, if you do have multiple retirement accounts, give
provide needed income for employees, thus increasing the chances that savers will lose some thought to consolidating them. The consolidation
you when you do retire. As track of their money. By consolidating your retirement plans process is not difficult, and the end result may save you time
the years went by, you may with one provider, you can ensure you don’t lose track of and hassles, while also helping you manage your retirement
well have accumulated several your hard-earned money. income more effectively.
retirement accounts, such as • Ability to follow a unified strategy – With multiple This article was written by Edward Jones for use by
IRAs and 401(k)s or similar retirement accounts, and different investment portfolios, you your local Edward Jones Financial Advisor, Edward Jones,
employer-sponsored plans. But you might find it advantageous might find it difficult to maintain a unified financial strategy Member SIPC.
to consolidate these accounts with a single provider. that’s appropriate for your goals and risk tolerance. But once Edward Jones is a licensed insurance producer in
Consolidating them can provide you with several potential you’ve consolidated accounts with a single provider, you’ll all states and Washington, D.C., through Edward D.
benefits, including these: find it easier to manage your investment mix and to rebalance Jones & Co., L.P., and in California, New Mexico and
• Less confusion and clutter – If you have multiple accounts your portfolio as needed. The need to rebalance may become Massachusetts through Edward Jones Insurance Agency
in different locations, it may be difficult to keep track of tax more important as you near retirement because you may want of California, L.L.C.; Edward Jones Insurance Agency of
documents, statements, fees, disclosures and other important to shift some of your assets into investments that aren’t as New Mexico, L.L.C.; and Edward Jones Insurance Agency
information. Consolidating accounts could help provide clear, susceptible to swings in the financial markets. of Massachusetts, L.L.C.
simplified account maintenance. • Possible improvement in investment options – Often, Edward Jones, its employees and financial advisors
401(k)s may have limited investment selection, so cannot provide tax advice. You should consult your qualified
consolidating accounts with a full-service firm may allow tax advisor regarding your situation.
Helping for a wider array of products and strategies. This broader 1851 W. Indiantown Road, Ste. 106, Jupiter, FL 33458.
Contact us at (561) 748-7600, Sally Sima Stahl, AAMS,
exposure can potentially help you improve your overall
Unmotivated Teens retirement income strategies.

By Jim Forgan, Ph.D., Adventures In Alaska
Licensed School
Psychologist Report and Photos by
Unmotivated, lazy, not Penny Sheltz
applying himself, and not Escaping from the
working to his potential Florida heat in July and
were words a mom used August, we took off to
to describe her 16-year- Alaska. First, we flew
old son as we discussed to Vancouver to board
her concerns. This 11th the Holland America
grade adolescent seemed Line’s Zuiderdam three-
to be a lost soul since he day cruise from Juneau.
did not care about school grades, was defiant at home, Our adventures included
and was pushing others away. Mom was concerned about taking the tram to the
him and as she put it, “He doesn’t even realize how much top of the mountain for
he’s messing up now and how much it will come back to great views, hiking to
haunt him later.” We decided to test him to help give her see totem poles, and
direction and determine if his struggles were due to an perusing the gift shop
underlying disorder or something else. Testing revealed to see stuffed animals.
no learning disabilities, but the teen was depressed which
was causing him not to care about now or later. Based on
this information, mom obtained the right help for her son.
Depression in teens is real and anxiety and depression
often co-occur. These are mental health issues that do
not go away on their own and can appear as your teen
being agitated, unmotivated, disinterested, flippant,
argumentative, withdrawn, and experimenting to fill an
unmet void. If you suspect your teen has depression or
anxiety, seek treatment. We offer testing to rule out other
problems and determine the true issue. Alternatively, you
can talk to your medical provider.
Counselors offer support to teens willing to participate
in the process. A type of effective counseling is cognitive
behavioral therapy. This goal oriented counseling helps
your teen reframe negative thinking and change thought
processes which, in turn, change behavior. Counselors
are available at psychologytoday.com or sfacc.net. If your
teen is open to reading a self-help type of book check out
the book, Make Your Bed: Little Things That Can Change
Your Life…And Maybe The World or Anxiety Relief for
Teens by Regine Galanti.
If you have an unmotivated teen, call our office as Dyslexia, ADD/ADHD,
we test children ages 5.5 through college for dyslexia,
ADHD/ADD, depression, anxiety, and other processing
disorders. Visit JimForgan.com or call (561) 625-4125. Gifted Testing

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• Jupiter & Stuart Offices Licensed School Psychologist
• Testing for Processing
Captain’s was established in 1980 servicing www.JimForgan.com
Palm Beach County and is a privately Problems, Anxiety,
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Captain’s is committed to providing
dependable, reliable and professional • Weekend and After
ground transportation to and from all School Appointments
South Florida Airports and Seaports. PBCVH212
To reserve your vehicle: “Helping Parents Help Children”
561-798-2180 or 800-634-7890 www.captainsairport.com