Life Planning, 2019

lifeplanning

JANUARY 26, 2019

LIFE PLANNING GUIDE

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GUIDE 2019

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Protect your smartphone from being hacked

MetroCreative

For many smartphone users, their smartphones are

• Update your operating system. It can be a nuisance

never too far out of reach. It is a reflection of the role

to update a phone’s operating system. In fact, many a

these devices now play in everyday life as well as the

smartphone user has bemoaned an OS update, feeling

amount of sensitive information contained within

the updates changed the look and performance

them.

of apps they had grown accustomed to. However,

The treasure trove of personal information, including

updated operating systems are offered for various

banking info, personal emails and private photos, that

reasons, one of which is to guard against glitches or

smartphones contain makes them tempting targets

bugs in old operating systems that might have made

for skilled cyber criminals. Though phones come with

phones more vulnerable to hackers. When prompted

built-in security features, savvy smartphone users

to update a smartphone’s operating system, do so

recognize the importance of going beyond such

right away.

features to protect their devices from hackers.

• Avoid public WiFi. Hackers target victims in

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many ways, including through public WiFi hotspots.

Google Play. Some hackers access phones via apps

Smartphone users who don’t have unlimited data

they offer through websites that, on the surface,

plans may be tempted to use public WiFi when out

seem legitimate. However, such apps contain viruses

and about. But doing so makes users vulnerable

and malware that make it easy for hackers to access

to skilled hackers who are just waiting to access

phones once they’ve been installed.

unknowing users’ personal information, including their

Smartphone users must recognize the importance

financial data. When leaving the house, turn off the

of protecting their phones, and all the sensitive

WiFi on your phone, only turning it back on when you

information their phones contain, from hackers.

need it and only if you can access a secure network.

• Accept two-factor authentication. Two-factor authentication was designed so internet users would have another layer of protection against hackers. When attempting to sign into an account, whether it’s email, social media, banking, or another login that requires a username and password, you may be asked if you want to enroll in two-factor authentication. This refers to the system in which users receive a temporary code via the messaging apps on their phones that only the users have access to. Some might say two-factor authentication is a nuisance, but receiving and typing in the short code will only take an extra few seconds and it’s a great extra measure of protection against hackers.

• Only buy apps from your phone’s official app store. When purchasing and downloading apps, only use official app stores such as the Apple Store or

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Explaining financial plans and why you need one

MetroCreative

A clear understanding of personal expenditures and savings

1. Identify what you want. You must identify what you

rates is essential for securing a strong financial future. A

want to achieve. Goals may include buying a home, retiring

financial plan can help everyone from the extraordinarily

early, providing for a child’s education, or having more time

wealthy to those struggling to make ends meet.

and money for travel. Putting your goals on paper may inspire

The Financial Planning Association says a financial plan identifies goals and objectives that take finances to achieve

you to pursue them more vigorously.

2. Audit your finances. Conduct an audit of your finances

and creates a plan for making those things happen. A financial

so you can get a clear grasp of your current situation. Make

plan can serve as a road map that people can look to for years

a list of all of your assets, and then subtract existing debts to

to come as they work toward securing their financial futures.

figure out your net worth. While you’re tabulating,

Whether you aim to retire by age 50 or to reduce your debt,

find out how much you bring in and spend each month

a financial plan can be just what you need to turn your dreams

so you can get a clear picture of your spending habits. This

into a reality. Here are some steps for devising a financial plan.

will help you make smart choices in regard to spending and saving.

3. Eradicate existing debt. One of the key parts of a financial plan is to pay down high-interest debt to free up money for the future. Focus on paying off credit card balances, high-interest loans or balances for other accounts where interest is high. A debt consolidation loan may be worth exploring if you’re having trouble paying down high-interest debt.

4. Start saving. Building savings is essential to reaching many goals. It also is key to help avoid financial ruin during emergency situations, such as home or car repairs, disability that takes you out of work, etc. Start small by having a certain percentage of money deposited into a separate account automatically. Then watch it grow. Investing in the right products also can help you grow your savings. Financial advisers can help individuals devise plans to meet their shortand long-term goals.

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Estate planning and charitable giving

MetroCreative

Charitable giving comes in many forms. Some people donate

interest trust allows men and women to donate their assets to a

annually to their favorite charities, while others may volunteer

charity but retain some of the benefits of holding those assets.

their time or professional services.

A split-interest trust funds a trust in the charity’s name, and

One way many people choose to give to charity is to donate

people who open one receive a tax deduction any time money

at the time of their death. Including charitable giving into

is transferred into the trust. But the donors still control the assets

an estate plan is wonderful way to support a favorite cause.

in the trust, which is passed onto the charity at the time of their

When researching this approach, it can be easy to become

deaths. You have various options at your disposal in regard to

overwhelmed by references to tax codes, attorney fees and other items that can make including charitable gifts in one’s estate plan seem more complex than it needs to be. Schwab Charitable, an independent nonprofit organization, notes that

charitable trusts, so speak to a financial adviser to help you pick the best one for you.

Charitable giving is a part of many people’s estate plan.

there are various ways to incorporate charitable giving into an

Explore your options and choose the one that’s most beneficial

estate plan, and that doing so is something almost anyone can

to you, your heirs and the charities you want to support.

do.

• Dictate giving in your will. When reading about charitable giving and estate planning, many people might begin to feel intimidated by estate taxes, feeling their heirs won’t get as much of their money as they hoped. But Schwab Charitable notes that including a charitable contribution in your estate plan will reduce your estate tax liabilities, which will help to maximize the final value of your estate for your heirs. Speak with your estate attorney and ensure your donation is spelled out in your will.

• Donate your retirement account. Another way to utilize an

Jason Harwick

estate plan to donate to charity is to designate the charity of your choice as the beneficiary on your retirement account.

Schwab Charitable notes that charities are exempt from both income and estate taxes, so choosing this option guarantees the charity will receive 100 percent of the account’s value once it has been liquidated.

• Explore a charitable trust. Charitable trusts provide another way to give back through estate planning. For example, a split-

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What it costs to raise kids today

MetroCreative

A generation ago, it was common to see families with four or more children. But things are a bit different today.

children until later in life, the rising costs of raising kids may have something to do with it as well.

Pew Social Trends indicates that

The U.S. Department of Agriculture

parents now have 2.4 children

says the cost of raising a child today

on average, a number that has

has climbed to $233,610, which

remained fairly stable for two

excludes the expenses of college.

decades. In addition, since 1976,

A 2011 article that appeared in the

the share of mothers at the end of

Canadian publication MoneySense

their childbearing years who have

estimated childrearing costs to be

one child has doubled, from 11

$12,824 per year, which adds up to

percent to 22 percent.

$243,656 by the time a child reaches age 18.

While shrinking families may be based on many different factors, including postponing having

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It’s also well documented that more adult children are living with their parents for longer than kids used to stay with mom and dad. Pew Research has found that roughly one-third of women and half of men between the ages of 18 and 34 are still living at home, surpassing records set in the 1940s. This means expenditures on child-rearing may continue long after kids reach adulthood. As a result, it is easy to see how having multiple children can be a major source of financial stress for the average middle-income family.

The financial planning resource NerdWallet estimates that the cost of raising a child today is higher than the DOA figures, coming in at roughly $260,000 and that is just for the basic essentials. Throw in tiered levels of care, including everything from more expensive choices for food and clothing, and extras for early childhood care, sports lessons, music instruction, and electronics/gaming, and the cost can get as high as $745,634.

Many different factors impact the size of modern families today, and the rising cost of raising children may be the most influential of such factors.

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Understanding the jargon of health insurance

MetroCreative

The world of healthcare can be confusing to navigate. Today people must navigate copayments, coinsurance, deductibles, and savings plans, which can make it difficult to understand what’s going on with your insurance company.

• Long-term care insurance: A specific healthcare plan that can be used for in-home nursing care or to pay for the medical services and room and board for assisted living/nursing home facilities.

Healthcare is standardized in some areas of the world and publicly financed with little to no out-of-pocket costs for participating citizens. Elsewhere, access to health insurance is provided through employers or government assistance programs or individually purchased. Understanding some health insurance-related jargon is a great way to better educate oneself about the industry.

• Network provider: This is a healthcare provider who is part of a plan’s network. Many insurance companies negotiate set rates with providers to keep costs low. They will only pay out a greater percentage to network providers.

• Benefit period: The benefit period refers to the duration of time services are covered under your plan. It is usually a calendar year from the point of start to end. It may begin each year on an anniversary date when you first received coverage.

• PPO: A preferred provider organization is a type of insurance plan that offers more extensive coverage for in-network services, but offer additional coverage for out-of-network services.

• Coinsurance: This is a percentage of the cost of services rendered in specific areas outlined by the health plan that you are responsible for after a deductible is met. For example, a plan may cover 85 percent of costs, with patients responsible for the remaining 15. • Copayment (copay): A copayment refers to the flat rate you pay to a provider at the time you receive services. Some plans do not have copays. • Deductible: The amount you pay for health services before the insurance company pays. You must meet a set limit, which varies by plan and provider, before insurance will kick in and cover the remaining costs during the benefit period. Many plans have a $2,000 per person deductible. This deductible renews with each calendar year. • HMO: A health maintenance organization offers services only with specific HMO providers. Referrals from a primary care doctor often are needed to see specialists. • HSA: A health savings account enables you to set aside pretax income up to a certain limit for certain medical expenses.

• Non-network provider: A healthcare provider who is not part of a plan’s network. Costs may be higher if you visit a nonnetwork provider or if you are not covered at all.

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Topics to cover when interviewing financial advisers

MetroCreative

Investors put a lot of faith in their financial advisers. Many

who must place clients’ interests ahead of his or her own.

professionals work hard to save up enough money to invest

Fiduciaries also must disclose any existing or potential

so they can secure their financial futures. Handing that hard-

conflicts of interest that might affect clients’ willingness to

earned money to a financial adviser can be nerve-wracking.

work with them. That includes how they earn their money.

But prospective investors can calm their nerves by discussing

Non-fiduciaries have no such responsibility, so they can sell

certain topics with planners before deciding to work with

clients a particular investment without having to tell clients

them.

how their own compensation is affected by that sale.

Fiduciary status People new to investing will no doubt find some financial jargon confusing. Fiduciary is one term that novice investors may be unfamiliar with. A fiduciary is a financial professional

Some fiduciaries work for specific funds that only allow them to sell those particular funds’ proprietary products. That’s the case even if they believe there are other investments that are better for given clients. Such arrangements must be shared with clients for advisers to maintain their fiduciary status.

The Certified Financial Planner Board of Standards’ “Rules of Conduct” can be found at www.cfp.net.

Fees Fees should be discussed before signing an agreement with a financial adviser. Ask each adviser you interview how they earn their money. Some might charge clients a percentage of the assets they’re managing while others may earn money by selling you specific products. Investors have a right, and an obligation to themselves, to understand how financial advisers they work with will earn money. That’s smart investing and can help investors sleep easy knowing their advisers have put clients’ interests first.

Services Financial advisers offer different services. Some might only suggest investments, while others may help clients come up

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with comprehensive financial plans that focus on short- and

signing any agreements, and determine if you’re comfortable

long-term goals. Some investors may only want suggestions,

meeting just once a year to go over things or if you want more

while others may need more from their advisers. Determine

routine check-ins.

which type of investor you are and then find the right adviser for you.

Financial advisers help millions of people across the globe secure their financial futures. Discussing various topics and strategies with prospective advisers is a great way for investors

Access Investors, particularly those without much experience, might

to find the right individual for them.

be comfortable knowing they can contact their financial advisers as often as they’d like. Some advisers are more accessible than others, so discuss access with advisers before

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Items to take to the tax preparer

MetroCreative

For many working Americans, April 15 is synonymous with taxes. But taxpayers may be happy to learn that they have two extra days to file their returns in 2018. That’s because this year April 15 falls on a Sunday, and April 16 is Emancipation Day, when the District of Columbia celebrates Abraham Lincoln’s signing of the District of Columbia Compensated Emancipation Act, which freed more than 3,000 slaves in D.C. The extra two days to file might not be much time, but the extra 48 hours will no doubt please taxpayers who tend to put off filing until the last minute. Whenever taxpayers decide to begin the process of filing their taxes, those who hire professionals to prepare their returns

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• Social security or tax ID number • Social security or tax ID number of your spouse, if applicable • Dates of birth of all dependents • Social security or tax ID numbers of all dependents • Last year’s tax return • Spouse’s tax return from previous year, if filing jointly

Income Information • If you are filing a joint return, W-2 forms from all of your spouse’s employers in the last year • Information regarding investment income, including proceeds from the sale of bonds or stocks, income from foreign investments, interest income, and/or dividend income

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• Income from local and state tax refunds from last year • Business income and accounting records from businesses individuals own • Unemployment income • Rental property income

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• W-2 forms from all employers you worked for in the last year

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should have the following items ready when visiting their tax preparers.

• Proof of miscellaneous income, such as lottery winnings, gambling winnings, etc.

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Income adjustments (if applicable)

Bank information

• Homebuyer tax credit

• Bank account number

• Green energy credits

• Bank’s routing number

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• IRA contributions • Mortgage interest

This list is a general list of documents that taxpayers may

• Student loan interest

need to bring when visiting their tax preparers. Individuals

• Contributions to medical savings accounts

who want to be certain they bring all the documents

• Self-employed health insurance

necessary to file their returns should contact their tax

• Education costs • Qualified medical expenses

Dependent care (if applicable) • Education costs • Childcare costs • Adoption costs

Charitable contributions (if applicable) • Charitable donation receipts

preparers in advance of their appointments to determine which documents they will need to make the process go as smoothly as possible.

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Simple ways to keep a realistic budget

MetroCreative

Successful financial plans often begin with the creation of a budget.

spending habits, but it doesn’t have to put a complete damper on plans. In fact, with a budget in hand, people may be more free to spend because they will have a

A budget is an estimate of income and expenses in a given period of time. Budgets help with long-term goals like paying off a mortgage or sending a child to college as well as short-term goals like financing a dream vacation.

Not all budgets are alike, and when people hear the

stronger grasp of their financial situation.

Making a realistic budget does not have to be a chore.

Here is how to get started.

• List the necessities. Begin by calculating the costs

word “budget,” they may get apprehensive. Budgeting

associated with fixed needs, including rent/mortgage,

may require making some concessions in regard to

utilities, food, and any other bills you have to pay each month.

• Add existing debt. Debt includes any routine payments being made to credit card companies, student loan lenders, car payments, or unpaid medical bills.

• Conduct a spending analysis over several months.

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Budgets are easier with fixed numbers, but unforeseen variables can affect spending every month. These can include the extras for clothing, entertainment and much more. Average the cost of these expenses throughout your analysis period so you can get some idea of how much to allocate for them.

• Use software or apps to help. There are plenty of

$

resources available to help people calculate their budgets

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and get a picture of their financial habits. Resources such as Mint, YNAB (You Need a Budget) and various

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Thinking of Pre-Planning Your Funeral or Cremation

accounting programs can produce spreadsheets, pie charts and bar graphs as you work to create a budget.

• Start trimming gradually. Quitting a certain lifestyle cold turkey can be jarring. Gradually cut back on your spending if your analysis suggests that’s the way to go.

• Automate saving. Immediately removing a set amount from your paychecks by having it directly deposited into a separate account can remove the temptation of spending too much from your financial equation.

Budgets are a key part of a financial plan and can help people reach their goals.

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5 options for funding your next home improvement project

MetroCreative

Before starting a home improvement project, either on one’s own or with the assistance of a professional contractor, homeowners must first consider the costs involved. According to the home improvement resource HomeAdviser, more than one-third of homeowners do not understand what hiring a professional will cost, and then cannot successfully budget and secure financing once they have set their sights on a renovation project.

options.

HomeAdviser says that some of the more popular projects, such as remodeling a kitchen or bathroom or building a deck, can cost, on average, $19,920, $9,274 and $6,919, respectively.

2. Home equity line of credit: The financial experts at Bankrate indicate that a HELOC works like a credit card, with the house as collateral. There is a credit limit, and borrowers can spend up to that limit. The interest rate may or may not be fixed. However, the interest may be tax-deductible if the financing is used to improve, buy or build a home.

Homeowners may find that the more expensive renovations require them to secure some type of financing. Those who have never before sought such financing may want to consider these

1. Cash-out refinancing: With cash-out refinancing, a person will begin the mortgage process anew with the intention of paying off the current mortgage balance, and then taking out additional funds for other purposes. Cash-out refinancing is a way to tap into a home’s existing equity for use on improvements or other expenses, such as college tuition.

3. Home equity loan: Individuals also can borrow against equity in their homes with a fixed interest rate through a home equity loan.

Most lenders will calculate 80 percent of the home value and subtract a homeowner’s mortgage balance to figure out how much can be borrowed, according to the financial advisery site The Simple Dollar.

4. Personal loan: Homeowners can shop around at various financial institutions for competitive personal loans to be used for home improvement purposes. Funds may be approved within one business day, which can be ideal for those who want to begin their improvements soon.

5. Personal line of credit: A personal line of credit allows borrowers to borrow only the money needed at the time, and offers a variable interest rate that is generally lower than fixed loan rates.

Again, like a credit card, PLOC gives a person a maximum borrowing amount and is ideal for ongoing purchases.

Homeowners looking to finance their next improvements should speak to a financial adviser and shop around for the best types of funding for them.

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What are the hidden costs of untreated hearing loss?

Dr. Anne Simon, Audiologist, Simon Audiology & Tinnitus

“I never thought of my hearing loss as anybody else’s problem,” says Frank Bentley, a mechanical engineer. Bentley’s untreated hearing loss came with a long list of accommodations. Workmates would relay key details from phone conversations. He never answered his wife’s phone calls at work. He had long since stopped attending professional association meetings and conferences. “I couldn’t hear the presentations. I loved talking shop with colleagues.

But now, networking events were a waste of time.”

He avoided family events unless they were at home. The friction in his marriage gradually increased. “My lack of hearing became the elephant in the room that everyone in my life had to tip-toe around.”

Bentley continues, “All my social, family, and job decisions were warped by my hearing loss.”

Finally, Frank had a moment of epiphany. He walked into the kitchen to see his wife comfort their sobbing 7 year old granddaughter. “I kneeled down to offer her a hug and ask what was wrong. She ran out the door!” Confused and wondering what was wrong Bentley stood to see anger in his wife’s eyes.

genuinely heard.

You don’t have to live with untreated hearing loss. You don’t have to live the story of your life with pages missing. If you or a loved one are experiencing hearing loss, call 208-746-7022. Schedule a hearing test and let me help you live your life to the fullest.

Signs you have hearing loss.

• You have difficulty understanding people on the phone.

• You commonly find yourself in disagreements because of a lack of understanding.

• The voices of women and children are hard to understand.

• You have worked around excessive noise (factory, airport, military, firearms, big machines)?

• You have trouble understanding in noisy situations (restaurants, social gatherings, public events)?

Knowing he wouldn’t be able to hear anything, Bentley declined his granddaughter’s invitation to her school play. The image of his granddaughter running out the door sobbing was the last straw. “I could no longer ignore the price that everyone else was paying for my hearing loss.”

Living without being able to hear Frank’s story reveals some of the costs of untreated hearing loss. As humans, we collect information through five senses. Being fully alive means having access to the breadth of information available to us.

We are presented with countless decisions in our walk through life: at work, with family, social engagements, with friends. Better information can lead to better decisions. Lack of information impairs our ability to make sound decisions.

Among our greatest emotional needs is the need to feel heard and understood. Untreated hearing loss impairs the ability to hear, understand, and empathize with those we care the most about.

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How young people can avoid the debt trap

MetroCreative

Rites of passage come in many forms. Some are religious ceremonies marking an important stage in a person’s spiritual life, while others are less ceremonial but still impactful.

For many young people who are old enough to vote but not necessarily old enough to live completely independent of their parents, digging oneself out of debt is an early financial rite of passage. But youth and debt need not go hand in hand, even though statistics suggest otherwise.

According to the Federal Reserve, student loan debt reached historical highs in the first quarter of 2018, surpassing $1.5 trillion for the first time ever. That figure is even more staggering when compared to figures from a decade ago, when total student loan was about $600 billion.

And it’s not just student loan debt that’s jeopardizing young people’s financial futures. Consumer debt compiled through the use of credit cards has long been a thorn in the sides of young adults, many of whom apply for credit cards before they fully understand the concept of credit, only to learn the hard way that swiping credit cards comes at an oftentimes steep cost.

But while the young people of yesteryear might have

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landed in debt by using credit cards for nonessentials

Avoid consumer debt.

like a night out with friends, a recent survey from the

Interest rates on credit cards can be high, especially for

professional services firm PwC found that young adults

young people without lengthy credit histories. As a result,

currently between the ages of 25 and 34 are more likely

it’s best to only use such cards for emergencies and not

to buy day-to-day essentials with credit. In fact, 20

to pay for nights out with friends or a new pair of shoes.

percent admitted to doing to so in the past six months,

Consumer debt that’s not paid off in full each month also

compared with just 6 percent of adults age 55 and over.

can adversely affect young adults’ credit ratings, which

That could be due to a number of factors beyond young

can hurt them when they get older and look to buy their

adults’ control, including low and stagnant wages, but it

own homes or other big-ticket items.

also might be a byproduct of young adults not knowing

Live at home.

how to avoid debt. If it’s the latter, then young adults can

While many college graduates want to maintain their

try to employ the following strategies to avoid falling into

independence and live on their own after graduation,

the debt trap.

moving back in with mom and dad might be the most financially savvy move to make. Doing so allows young

Explore your repayment options.

adults with jobs to begin building their nest eggs and can

According to Student Debt Relief, a private company

help them avoid having to use credit cards to meet their

that looks to educate and empower consumers about

day-to-day needs. Debt ensnares many young adults.

student loan debt, the average college graduate in the

But there are ways for young people to avoid debt

class of 2016 had $37,172 in debt. That’s nearly $10,000

and pave the way for a bright

more debt than the average graduate from the class of

financial future.

2011. Young adults struggling to repay their student loans can explore various options, including federal

Plans grow and change, just like you

student loan repayment plans, such as the Pay As You Earn plan and the Income- Based plan.

Each plan is different, but young adults should know that they have many repayment options.

DISCOVER THE BENEFITS

My mission is to help you at all stages and through the changes that life may bring.

Contact me to discuss your personal financial plan.

Of Giving Wisely

Did you know there are creative ways to support Tri-State Hospital Foundation? Ways in which Tri-State, you, and your loved ones all benefit at the same time? fts,” Such giving techniques are called “planned gifts,” because with thoughtful planning, you create ur win-win solutions for you, your family, and your only community owned and operated hospital..

509.758.4902

Foundation@tsmh.org

Waddell & Reed, Inc.

Member FINRA/SIPC

Donald Montgomery

LEGACY CIRCLE

Legacy Circle is designed to honor those who have recognized Tri-State Hospital Foundation with a planned gift.

HOSPITAL

1254 Highland Avenue, Clarkston, WA TriStateHospital.givingplan.net

Financial Advisor 913 6th St. Clarkston, WA 99403 office 509-254-5060 dmontgomery@wradvisors.com donald.montgomery.wradvisors.com Now servicing Lewiston, Clarkston, Pullman and Moscow 548071A-19

30996-FP1 (03/17)

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jANUARY 26, 2019

Tax-advantaged investing

MetroCreative

Investing has always been a means for people to grow their wealth and make their money work for them. Investors know that protecting investment earnings is important, and that often can be achieved through tax-advantaged investments.

Tax-advantaged investing, also called tax-efficient investing, allows investors to maximize the profits they can keep after taxes are filed. Investment selection and asset allocation are important factors affecting returns, but minimizing taxes and other

Tax & Accounting Services

MERRILL KAUFMAN PLLC D. LaRae Merrill C.P.A.

email: larae@clarkstoncpa.com

Karen Kaufman C.P.A.

email: karen@clarkstoncpa.com

724 Sixth Street, Clarkston, WA 99403

(509) 758-1580 Fax (509) 758-6845

548377A_19

costs is also crucial, according to the Schwab Center for Financial Research.

There are some ways for investors to keep more of their assets. A qualified financial adviser can help navigate the waters of the best tax-advantaged options. When investing on an annual basis, there are some general accounts people can use to their advantages.

• A 401(k) or 403(b): These accounts are an ideal way to get “free” money. Funds in these accounts are put away pre-tax. Because your adjusted gross income is lowered, so is your federally taxable income. In addition, some employers may match contributions up to a certain percentage. Companies also may offer Roth 401(k) plans, which differ from traditional plans in regard to when you pay taxes. With Roth plans, you pay taxes up front. When the money is eventually withdrawn, those withdrawals are tax-free.

jANUARY 26, 2019

liFE p LANNING gUI DE

• IRAs: Individual retirement accounts are similar to 401(k) plans in that they’re tax-deferred. However, they generally offer greater freedom in investment choices. Roth IRAs, like the Roth 401(k) plans, must be paid with after-tax dollars. But the advantages are higher contribution amounts, withdrawals that are tax-free and no mandatory withdrawals when a person reaches a certain age.

• Tax-Free Savings Account (TFSA): Canadian investors can explore TFSAs. These are accounts that do not tax any contributions, interest earned, dividends, or capital gains, and can be withdrawn tax-free. It is available to individuals ages 18 and older in Canada and can be used for any purpose.

19

• College savings accounts: Investing in a 529 plan can be wise for parents. While money is invested after tax, it is tax-free when withdrawn for qualified higher education purposes.

• Health savings accounts: To get a tax deduction on health expenses, an HSA is the way to go. HSAs are linked to high-deductible health plans and allow account holders to use the funds for qualified spending.

Working with a financial planner can help investors maximize their investments to be as tax-efficient as possible. Financial experts understand funding limits and the timeline in which to invest for tax advantages.

Because we’ve got your back.

Whether it’s saving for your retirement, a brand-new car, or a dream vacation, we’re here to help you. So, whatever an amazing life looks like for you, let us help you get there.

Federally Insured by NCUA 548561A_19

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Dreaming Up the Ideal Retirement Is Your Job. Helping You Get There Is Ours.

To learn more about why Edward Jones makes sense for you, call or visit a financial advisor today.

Stephanie Johnson Financial Advisor

Matt Sartini, AAMS® Financial Advisor

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Brad Melton, AAMS®

Scott Arnone

Financial Advisor

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517 Thain Road Lewiston, ID 83501 (208) 746-7167 1-877-490-7167

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1024 16th Avenue Lewiston, ID 83501 (208) 798-4742 1-877-798-4770

0201 1st Street Studio A Lewiston, ID 83501 (208) 746-1114

302 5th Street Suite 1 Clarkston, WA 99403 (509) 758-8119 1-800-441-2308

303 Bridge Street, Suite 3 Clarkston, WA 99403 (509) 758-8731 1-866-758-9595

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Financial Advisor

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Financial Advisor

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940 Bryden Avenue Lewiston, ID 83501 (208) 746-3875 1-800-646-8316

740 5th Street Clarkston, WA 99403 (509) 751-1610 1-877-751-1610

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Professional Mall II 1260 SE Bishop Boulevard. Suite C Pullman, WA. 99163 509-332-1564

212 Rodeo Drive Suite 810 Moscow, ID 83843 (208) 883-4460

Financial Advisor

2501 17th Street Lewiston, ID 83501 (208) 798-4732 1-866-798-4732

303 Bridge Street, Suite 3 Clarkston, WA 99403 509-758-8731

Trevor E Arnone

Patrick Cruser, AAMS®

Financial Advisor

1455 G Street Suite 101 Lewiston, ID 83501 (208) 746-2308 1-844-746-2308

Financial Advisor

1300 16th Avenue Suite 101 Clarkston, WA 99403 (509) 758-8353

609 S. Washington Suite 203 Moscow, ID 83843 (208) 882-1234

Brady S Arnone Financial Advisor

302 5th Street Suite 1 Clarkston, Wa. 99403 509-758-8119 1-800-441-2308

Eastside Marketplace 1420 S Blaine, Suite 22 Moscow, ID 83843 (208) 882-4474

Ryan Hamilton Financial Advisor

Professional Mall II 1260 SE Bishop Boulevard. Suite C Pullman, WA 99163 509-332-1564

Financial Advisor

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