Page 18 - Abacoa Community News - July '23
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Page 18, Abacoa
Financial Focus ®
Biggest Threats To A fund containing a year’s worth of living expenses, with the Retirement can be a pleasant time in your life — and
Comfortable Retirement? money kept in a liquid account, you may be able to “ride out” you’ll enjoy it more if you’re prepared for the challenges
these costs without jeopardizing your investment portfolio.
that face all retirees.
Be sure to keep these reserves separate from your typical This article was written by Edward Jones for use by
By Sally Sima Stahl day-to-day accounts to avoid the temptation of spending your local Edward Jones Financial Advisor, Edward Jones,
If you save and invest your emergency money. Member SIPC.
for decades, you’d like • Health – Retirees may face more health concerns than Edward Jones is a licensed insurance producer in
to know you can retire younger people, and those concerns often come with larger all states and Washington, D.C., through Edward D.
without financial worries. medical bills. That’s why it’s important to maximize the benefits Jones & Co., L.P., and in California, New Mexico and
Nonetheless, you still have to from Medicare or your Medicare Advantage plan. Also, if you Massachusetts through Edward Jones Insurance Agency
be aware of some threats to contributed to a Health Savings Account (HSA) while you were of California, L.L.C.; Edward Jones Insurance Agency of
a comfortable retirement — working, and you haven’t depleted it, you can use the money New Mexico, L.L.C.; and Edward Jones Insurance Agency
and how to respond to them. in retirement. As long as the HSA funds are used for qualified of Massachusetts, L.L.C.
These threats include: medical expenses, withdrawals are tax- and penalty-free, and Edward Jones, its employees and financial advisors
• Inflation – Inflation has won’t be included in your income. This could help keep your cannot provide tax advice. You should consult your qualified
been high recently, but even a income below certain levels, lower your Medicare premiums tax advisor regarding your situation.
mild inflation rate can seriously erode your purchasing power. or avoid the 3.8 percent surtax on net investment income that Contact us at (561) 748-7600, Sally Sima Stahl, AAMS,
In fact, with just a 3 percent inflation rate, your expenses can be assessed on high-net-worth taxpayers. 1851 W. Indiantown Road, Ste. 106, Jupiter, FL 33458.
could double in about 25 years — and your retirement could
easily last that long. So, if you’re going to rely on your Testing Children For Autism
investment portfolio for a sizable part of your retirement
income, you will need to own a reasonable number of growth-
oriented investments, such as stocks or stock-based funds, By Jim Forgan, Ph.D., settings. Second, the child must display restricted, repetitive
whose potential returns can equal or exceed the inflation rate. School Psychologist patterns of behavior, interests, or activities, currently or by
• Excessive withdrawals – Once you retire, you should Autism diagnoses history. Third, the child’s symptoms must have started early.
establish a withdrawal rate for your portfolio — an amount you continue to increase. Fourth, there must be evidence of a significant impairment.
can take out each year and still feel secure that you won’t run According to results from Fifth, the symptoms must not be caused by another mental
out of money. Some people make the mistake of withdrawing a recent Centers for Disease or physical condition.
too much, too soon, once they’re retired. Your withdrawal Control and Prevention If your child is diagnosed with autism, we recommend
rate should be based on several factors, including your age at (CDC) funded study, the you start with treatments identified by the National
retirement, the size of your portfolio and the amount of income autism prevalence was Clearinghouse on Autism Evidence and Practice. These
you receive from other sources, such as Social Security. A that one in 36 children had are 28 evidenced-based practices that independent research
financial professional can help you determine a withdrawal autism. For every one girl documented best help children with autism. Treatments
rate that’s appropriate for your needs. identified with autism, four include applied behavior analysis (ABA) therapy, discrete
• Market volatility – The financial markets will always boys were identified. For the first time, more African- trial training, cognitive behavioral intervention, and social
fluctuate. When you’re still working, this volatility may not American, Hispanic, and Asian children were identified than narratives. Many insurance companies pay for evidenced-
be such a problem, as you have years or decades to recover White children. Researchers agree that early identification based therapies with an official autism diagnosis. In addition,
from short-term downturns. But when you retire, you don’t and use of evidenced-based treatments lead to the best Florida offers the Family Empowerment Scholarship to
want to have to sell investments when their price is down. To outcomes for children with autism. provide you funding to help your child.
help prevent this, you can tap into the cash in your portfolio, We test children for autism starting at age 2. There is no I co-authored the book Parent’s Quick Start Guide to
assuming you have enough to cover several months’ worth of one test or even a medical test or blood test to diagnose autism. Autism which provides a quick, but deep dive into what to
living expenses. You could also draw on a CD “ladder” — a In our practice we utilize the gold standard assessment called immediately do when your child is diagnosed with autism.
group of CDs that mature at different times — to provide you the Autism Diagnostic Observation Schedule or ADOS, When it comes to helping your young child, time is too
with resources for the next few years and allow your equity second edition. In addition, we use caregiver interviews and precious to squander.
investments time to recover their value. tests of language, attention, intelligence, and memory. Call to discuss your child as we test for autism,
• Unexpected costs – You had them when you were Five criteria should be met for a psychologist to diagnose dyslexia, dysgraphia, attention-deficit hyperactivity
working, and you’ll probably have them when you’re retired: Autism Spectrum Disorder. First, the child must demonstrate disorder (ADHD), depression, and anxiety. Visit
the furnace that breaks down, the car that needs a major deficits in social communication and social interaction across JimForgan.com or call (561) 625-4125.
repair, and so on. But if you’ve established an emergency
Dyslexia, ADD/ADHD,
Gifted Testing
NOW OFFERING: Dr. Jim Forgan & Associates
• Jupiter & Stuart Offices Licensed School Psychologist
• Testing for Processing www.JimForgan.com
Problems, Anxiety,
Defiance (561) 625-4125
• Weekend and After
School Appointments
“Helping Parents Help Children”
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