No easy rules when it comes to retirement

A recent Wall Street Journal article delved into “Glimpses Into the Reality of a $1 Million Retirement” nest egg. The Dec. 28, 2022, piece noted, “Once a symbol of extravagant wealth, $1 million is now the retirement savings goal for millions of Americans.” The question for you may be, “Given inflation, taxes and other personal challenges, do I have enough with $1 million in today’s dollars?”

LEWIS J. WALKER, CFP

dollars if inflation averages only 2.5 percent per year. The economy and stock and bond markets are struggling as the Federal Reserve Bank raises interest rates in a battle to get inflation down to an annual rate of 2 percent. Playing with various assumptions and time frames will make you dizzy, but asking “what if?” questions can be useful in weighing variables as you attempt to visualize potential future reality.

last? Do you wish to pass assets to heirs and/or qualified charities? Will you be debt free on your retirement date? What will be your health care needs and how will they be funded? Will life insurance be in place to bolster the financial freedom of a survivor? Will life insurance also be used as a vehicle to support long term care needs or pay potential estate taxes?

Previously this column cited the work of Thomas Stanley and William Danko who authored “The Millionaire Next Door,” a best-selling book that defined a threshold level for wealth achievement as having a net worth of $1 million or more. By the end of 2022, it took a net worth in today’s inflation adjusted dollars of $1.89 million to equal the $1 million level specified when the book was published in 1996. If you were to ask a financial planner if a $1 million retirement nest egg is sufficient, the answer must be, “It depends.” Along with time frames, the planning variables are myriad.

How long before you wish to retire, or at least, proclaim yourself as being “financially independent?” Use an inflation calculator to determine the buying power of future dollars based on your time frame.

Say you’re 45 and want to be financially independent by age 65. In 2043, it will take $1,638,616 to equal $1 million in 2023

Community:

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Director Eytan Davidson expressed the need to stand in solidarity with all marginalized people, including people of color and the LGBTQ+ community.

Georgia State House Rep. Long Tran called attention to the rhetoric of rightwing politicians as a likely contributing factor to increased hate speech, specifically referencing the “locker room talk” of Donald Trump’s 2016 presidential campaign.

Davidson described the group who distributed the flyers as “loosely organized White supremacists hiding behind the first amendment.”

Besides containing antisemitic content, the flyers suggested that people who might take issue with them are un-American, rhetorically asking “You don’t support free speech?”

Dunwoody police chief Billy Grogan told WSBTV that those who distributed the fly-

In addition to inflation, taxes erode the net purchasing power of your gross earnings. You must consider both current and potential future estate and tax policies. Retirement money coming out of a qualified retirement plan like a 401(k) or Individual Retirement Account (IRA) is taxed as ordinary income. For accounts like a Roth IRAs or Roth option in a 401(k) plan, you invest after-tax dollars today so as to harvest tax-free dollars tomorrow. Will harvested dollars from personal non-qualified plan sources be subject to ordinary income or short- or longterm capital gains rates? More favorable long-term capital gains rates are blasted by some as a sop to the wealthy, as in “Warren Buffett pays a lower tax rate than his secretary.” With our national debt out of control, raising taxes on the so-called rich is a call. At $1-plus in liquid net worth, you will be tagged as “rich.” Count on it! A discussion of tax strategies that are available today is key to optimal future planning.

When you begin to tap your nest egg to provide retirement cash flow, how long do you estimate you will live and need money? Based on your age, and that of a spouse or partner, how long will the money have to ers will not be charged because it is a free speech issue. Davidson assured the community that the ADL and law enforcement are keeping an eye on extremist groups.

Georgia House Bill 30

Rep. Panitch spoke about Georgia House Bill 30 at the event, explaining that it was introduced in 2022 and seeks to provide a legal definition and examples of antisemitism. Similar bills have received bipartisan support and have been adopted by several states. The bill seeks to use the International Holocaust Remembrance Alliance Working Definition of antisemitism.

The American-Arab Anti-Discrimination Committee has taken issue with the definition’s discussion of Israel and has condemned the bill as potentially criminalizing pro-Palestinian speech.

Rep Panitch said the law contains examples of anti-Zionism and that “not all anti-Zionism is antisemitism.”

Panitch said in a previous interview that the bill would not affect incidents

How much of your nest egg will be tied up in a qualified retirement plan subject to ordinary income tax upon withdrawal? How much will be held in personal nonretirement funds where more favorable long-term capital gains rates may apply? How does Social Security play into retirement cash flow planning? Medicare is not free and costs for supplemental insurance plans rise every year.

Travel often is mentioned as a retirement goal. Well, “Why wait until retirement?” Suppose Italy is on your bucket list. Round trip tickets for two on Delta to Rome this fall can cost about $3,138 in coach, $3,838 in economy comfort, $6,662 in premium select, and $11,698 in business class. Careful shopping may reduce expenses, but the point is that when it comes to travel, comfort and style costs far more than the basics. A windowless inside cabin on a cruise ship costs much less than a suite with a balcony, but is that your idea of a good time? When saving for retirement, what level of freedom, flexibility, comfort, and style do you wish to aim for?

What other variables may impact the formulation of your financial plan? How secure is your job and earnings stream like the spreading of antisemitic flyers, because that is considered free speech and is protected under the First Amendment. from employment? If you’re self-employed how secure is your income stream and what’s the potential future selling price for your business? Do you have sufficient insurance (life, health, medical, disability, liability, property and casualty, long-term care) to deal with the vagaries of life? Are current and proper legal documents in place such as powers of attorney covering assets and heath care, beneficiary designations, wills, and/or trusts to deal with incapacity and death, special-needs children and taxes?

To view the International Holocaust Remembrance Alliance (IHRA) Working Definition of antisemitism, go to holocaustremembrance.com.

These questions and more play into the investment strategies that you will pursue. Your current earning power and net worth, future projections, time frames, risk posture, tax considerations, inflation assumptions, current health status and long-term outlook, family obligations, debt levels, current planning for emergency situations and “what if?” questions, and other factors govern your financial planning strategies.

If it sounds complex, it can be. That’s why independent financial counsel is encouraged. But if you think planning can be complicated, try winging it!

Lewis Walker, CFP®, is a life centered financial planning strategist with Capital Insight Group; 770-441-3553; lewis@ capitalinsightgrp.com. Securities & advisory services offered through The Strategic Financial Alliance, Inc. (SFA). Lewis is a registered representative and investment adviser representative of SFA, otherwise unaffiliated with Capital Insight Group. He’s a Gallup Certified Clifton Strengths Coach and Certified Exit Planning Advisor (CEPA).

To learn more about the Anti-Defamation League, visit adl.org.

To learn about how to report hate speech on various platforms, visit adl. org/cyber-safety-action-guide.

To learn about the services and resources offered by Temple Emanu-El, go to templeemanuelatlanta.org.

NFCC is looking for a full-time executive assistant to support the Executive Director and leadership team. This person will play a vital role in help keep the NFCC leadership team organized and productive and will interact with the board of directors and other important stakeholder groups. Sensitivity, discretion and attention to detail are a must. Candidate must have a two-year degree, bachelor’s degree preferred and should have at least 2-3 years of relevant experience. For a complete job description visit https://nfcchelp.org/work-at-nfcc/

Client Services Specialist

The full-time Client Services Specialist greets visitors to NFCC and assists them with obtaining services. In addition, this person conducts followup interviews, enters data and may participate in additional follow-up activities. A high school degree or equivalent is required along with at least one year in customer service or other relevant experience. Discretion and strong written and verbal communication skills in English and Spanish are also required. For a complete job description, please visit https://nfcchelp.org/work-at-nfcc/

Truck Driver

NFCC needs a reliable driver to work part-time picking up scheduled donations. The person in this role may also assist with facility maintenance and must maintain accurate vehicle maintenance records. It is crucial that they represent NFCC with a professional and friendly demeanor. 1-2 years of box truck delivery experience is preferred. Candidate must maintain a valid Georgia driver’s license and be free of any traffic violations for the past three years. Work on Saturdays or Sundays may be required occasionally. For a complete job description, please visit https://nfcchelp.org/work-at-nfcc/

Now Hiring: Office Coordinator

Local commercial real estate company is hiring an Office Coordinator. The role includes coordinating administrative tasks between our property management, leasing and accounting departments. The position requires exceptional communication and organizational skills, knowledge of MS Office, a strong work ethic, internal drive, and a positive attitude. This is an office only (not remote work) position. Please contact us Employment@ mpshoppingcenters.com for more information.

Workforce Development Coordinator

Develop programs and services for clients and students who are seeking employment, post-secondary education, or other career options. The coordinator collaborates with employers in the community who are hiring. The role also includes working one-on-one on job applications, resumes, interview preparations and offers tips for successfully securing and improving employment. Bachelor’s Degree in Human Services or related field required.

For full job description see: https://nfcchelp.org/wpcontent/uploads/2023/02/Workforce-DevelopmentCoordinator-2023.pdf. To apply, send resume to cswan@nfcchelp.org.

Accounting Specialist

Responsible for the day-to-day transactions within the accounting department. The specialist is accountable for preparing financial transactions, processing invoices, and entering general ledger data which will assist in balancing the income statement, managing budgets, and preparing financial reports. Role works closely with the Finance Manager and Director of Finance and Administration. Bachelor’s Degree in Finance or related field required.

For full job description see: https://nfcchelp. org/wp-content/uploads/2023/02/AccountingSpecialist-02.21.23-1.pdf. To apply, send resume to jrice@nfcchelp.org.

Wahoo Fitness, L.L.C. has opening in Atlanta, GA for Quality Engineer. Drive & lead new product development quality milestones. Provide expert guidance & direction in DFA & DFM. Operate in Agile & Lean. Mast or equiv + 1yr exp. Ability to travel to Wahoo Fitness locations abroad 10% of yr. Send resumes to Wahoo Fitness, Attn: M. Zilinski, 90 West Wieuca Rd NE, Ste. 110, Atlanta, GA 30342. Must ref job title & code: QE-KD.

Pool Technicians Wanted

Part-time & Full-time positions available. Pay is $12-$14 per hour. Hours starting at 6:30AM, Monday-Friday. Pick-up truck not required but must have your own reliable transportation. Gas allowance provided. Looking for people who enjoy working outside and are enthusiastic, dependable & punctual. Able to contribute independently or on a crew with consistently friendly attitude.

Well-established commercial pool maintenance company providing service in the North Atlanta Metro area.

Call Bill: 404-245-9396

Supportive Service Coordinator:

The Supportive Service Coordinator (“SSC”) will be responsible for managing the social/supportive services for a portfolio of properties, under the supervision of the Company Asset Manager. This position will serve as a liaison between the Asset Manager and the property management company. This individual will primarily be responsible for managing compliance and reporting for supportive services and, secondarily, procuring grant funding to supplement the property service budget, and identifying local service providers to augment property offerings.

Full time hours. Requires a Bachelor’s degree in social work or education and a minimum of 5 years’ experience.

For a full job description and to submit a resume, please reach out to: Samit Patel, spatel@rhgroup.org Resource Housing Group, Inc.

Collectibles

KEEPSAKE POTTERY

McCoy and others from the 1950’s. $300/set or sell by piece. 678-221-7983

Budget

Used Cars

JAGUAR XK-8 CONVERTIBLE 2002, triple black, with superb lines, garners attention wherever you go! Wife’s garaged beauty, excellent condition! 103,000 miles. Second owner. Clean title. $7750. iaofga@gmail.com, 678-667-0391

Handyman

Haulers

Cemetery

ARLINGTON

2 plots, Garden G. Valued at $9800. Asking $6000. 404-285-0977

MATTHEW THE HANDYMAN Carpentry, Painting, Drywall, Plumbing, Electrical and Small Jobs. 404-547-2079

HANDYMAN: LET ME FIX what your contractor didn’t! Or add a new kitchen or bathroom. Insured. 20 years experience. 770-292-0576

Hogging, Clearing, Grading, Hauling, Etc.

Many local referencesCall Ralph Rucker 678-898-7237

Painters

Quality Without Compromise

Robert Croawell Remodeling

Full Service Contractor

Additions • Kitchens • Basements • Bathrooms

Interior/Exterior Paint • Minor Repairs • Licensed Insured Office: 770-814-0064 Cell: 678-642-8314