Page 12 - The Jewish Voice - July '23

Page 12, The Jewish Voice

aLL about Kids LiFestyLes

Confirmation Class Financial Focus ® • Health – Retirees may face more health concerns than
younger people, and those concerns often come with larger
Mazel tov to Temple Judea’s 2023 confirmation class: Mac Biggest Threats to a Comfortable Retirement? medical bills. That’s why it’s important to maximize the ben-
Casteel, Jacob DuRoss, Ben Garine, Lexi Herman, Anabel efits from Medicare or your Medicare Advantage plan. Also,
Quittman, and Jacob Quartell. By Sally Sima Stahl if you contributed to a Health Savings Account (HSA) while
This year’s class, taught by Rabbi Feivel Strauss, focused If you save and invest for you were working and you haven’t depleted it, you can use the
on the question, “What does Judaism mean to me?” Together, decades, you’d like to know money in retirement. As long as the HSA funds are used for
the class discussed and debated relevant topics using a Jewish you can retire without finan- qualified medical expenses, withdrawals are tax- and penalty-
lens. Congratulations to this group of young adults! cial worries. Nonetheless, you free, and won’t be included in your income. This could help
still have to be aware of some keep your income below certain levels, lower your Medicare
threats to a comfortable retire- premiums or avoid the 3.8 percent surtax on net investment
ment — and how to respond income that can be assessed on high-net-worth taxpayers.
to them. Retirement can be a pleasant time in your life — and
These threats include: you’ll enjoy it more if you’re prepared for the challenges that
• Inflation – Inflation has face all retirees.
been high recently, but even a By knowing exactly what to expect from Social Security,
mild inflation rate can seriously erode your purchasing power. including the tax effects, you can more effectively incorporate
In fact, with just a 3 percent inflation rate, your expenses could your benefits into your overall retirement income planning –
double in about 25 years — and your retirement could easily and the better your plans, the more you’ll be able to enjoy your
last that long. So, if you’re going to rely on your investment life as a retiree. This article was written by Edward Jones for
portfolio for a sizable part of your retirement income, you will use by your local Edward Jones Financial Advisor, Edward
need to own a reasonable number of growth-oriented invest- Jones, Member SIPC.
ments, such as stocks or stock-based funds, whose potential Edward Jones is a licensed insurance producer in all
simchas returns can equal or exceed the inflation rate. states and Washington, D.C., through Edward D. Jones &

Co., L.P., and in California, New Mexico and Massachusetts
• Excessive withdrawals – Once you retire, you should
establish a withdrawal rate for your portfolio — an amount you through Edward Jones Insurance Agency of California, L.L.C.;
can take out each year and still feel secure that you won’t run Edward Jones Insurance Agency of New Mexico, L.L.C.; and
Nachman Meir Uzvolk out of money. Some people make the mistake of withdrawing Edward Jones Insurance Agency of Massachusetts, L.L.C.
too much, too soon, once they’re retired. Your withdrawal rate Edward Jones, its employees and financial advisors can-
The community recently welcomed Nachman Meir should be based on several factors, including your age at retire- not provide tax advice. You should consult your qualified tax
Uzvolk to the Chabad family at the occasion of his bris. ment, the size of your portfolio, and the amount of income you advisor regarding your situation.
The baby was named after his great-grandfather, Rabbi receive from other sources, such as Social Security. A financial Contact us at (561) 748-7600, Sally Sima Stahl, AAMS,
Nachman Bernhard of Johannesburg, South Africa. A special professional can help you determine a withdrawal rate that’s 1851 W. Indiantown Road, Ste. 106, Jupiter, FL 33458.
moment was when Joan Bernhard, the great-grandmother of appropriate for your needs.
Nachman Meir and wife of the late Rabbi Bernhard, held • Market volatility – The financial markets will always Vegan Curious? Here’s How
the baby for the priestly blessing while her grandchildren fluctuate. When you’re still working, this volatility may not be
blessed the baby. such a problem, as you have years or decades to recover from to Get Started
short-term downturns. But when you retire, you don’t want
to have to sell investments when their price is down. To help Following a vegan diet doesn’t just reduce one’s impact
prevent this, you can tap into the cash in your portfolio, assum- on the environment, it’s associated with a range of health
ing you have enough to cover several months’ worth of living benefits, making it no surprise that a plant-based food
expenses. You could also draw on a CD “ladder” — a group movement is on the rise.
of CDs that mature at different times — to provide you with “With more than 100,000 internet searches per month
resources for the next few years and allow your equity invest- for ‘vegan recipes’ and ‘vegetarian recipes,’ it’s clear there
ments time to recover their value. is high demand for plant-based meals,” says Chef Fred
• Unexpected costs – You had them when you were work- Scarpulla, chief culinary officer at Amy’s Kitchen, an
ing, and you’ll probably have them when you’re retired: the organic and vegetarian food company.
furnace that breaks down, the car that needs a major repair, and A recent national survey commissioned by Amy’s
so on. But if you’ve established an emergency fund containing Kitchen and conducted by Atomik Research finds that 52
a year’s worth of living expenses, with the money kept in a percent of Americans are vegan-curious, and men are even
liquid account, you may be able to ride out these costs without more inquisitive, with nearly 3 in 5 revealing an interest in
jeopardizing your investment portfolio. Be sure to keep these cutting out animal products.
reserves separate from your typical day-to-day accounts to
avoid the temptation of spending your emergency money. Lifestyles on page 13

Send us your simchas! The Jewish Voice welcomes
announcements of life-cycle events in the local Jewish
community. The copy deadline is the 15th of the month. Send
text and images to bernstein.wendy@gmail.com.

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