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from The Shopper 6/17/20
by The Shopper
Can You Invest for Retirement and Education?
SUBMITTED BY BOB KRYGSHELD
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Typically, this time of year is filled with graduation ceremonies and celebrations. But with the coronavirus pandemic, not much has been typical lately. Eventually, though, things will return to normal and schools will reopen for in-person learning. And if you have young children, you may want to save for their higher education, whether that be college or trade school. At the same time, though, you’re moving ever closer to retirement. Can you save for your kids’ education and a comfortable retirement for yourself at the same time?
It is indeed possible, although you may need to prioritize somewhat. Specifically, you may not want to put off saving for retirement in favor of education. But by viewing these goals together and investing as early as possible in each of them, you can take advantage of one of your biggest assets – time.
Of course, you’ll still have to budget your resources. You want to invest as much as you can, but not so much that your monthly cash flow is crimped. Consequently, you may have to consider retiring later, contributing less to your child’s education, or a combination of the two. But in terms of logistics, you can make saving and investing easier.
First, consider your retirement accounts. If you have a traditional 401(k) or similar plan, your contributions come out of your paycheck before you even see the money – so it’s about as painless a way of building your retirement fund as possible. Put in as much as your budget allows and consider increasing your contributions when you receive a raise at work. You can also direct your bank to move money each month from your savings or checking account into your IRA.
Now, let’s move to your other key goal: education. Several education funding vehicles are available, but one of the most popular is the 529 plan. Your earnings grow tax-deferred and withdrawals are free from federal tax, provided the money is used for qualified higher education expenses. (529 plan withdrawals not used for qualified expenses may be subject to federal and state income tax and a 10% IRS penalty on the earnings.) Furthermore, your 529 plan contributions may earn a state tax deduction or credit if you participate in your own state’s plan.
You can set up recurring contributions from a bank account to a 529 plan. And you don’t have to fund your 529 plan on your own. Instead of gifts for birthdays, holidays, graduations and other occasions, why not ask friends and relatives to contribute to the 529 plan you’ve set up for your child? They’re all eligible to participate – and their contributions may earn them tax benefits if they live in your state and you’ve invested in your own state’s plans.
A financial advisor can help you plan for more than one goal, understand the benefits and tradeoffs of your decisions, and make the process of saving for those goals easier. So, get the help you need to stay on track – or rather, two tracks – toward the important objectives of education and retirement.
This article was written by Edward Jones for use by your local Edward Jones Financial Advisor, Bob Krygsheld 501 W Exchange St. Crete, IL 60417 (708) 672- 2892.
God’s Commandment – To Love
APOSTLE MELVIN L. MOORE, NEW BEGINNING FULL GOSPEL MINISTRIES
Loving like Jesus is the best way to live. When we love like Him, we can step outside ourselves and clearly see our loved ones and their needs. We can shed layers of selfishness, resentment, anxiety, pettiness, and entitlement. Most of all, we can rise above our human imperfections and step into transcendental love.
Jesus’ model of love challenges us to stop settling for anything less than “the most excellent way”.
Can Anyone Really Love Like Jesus?
When it comes to love, Jesus raised the bar astronomically. He teaches us to love our enemies, turn the other check and walk the extra mile. To our human minds, this sounds completely outrageous - but that’s the point.
If we want to love like Jesus, we must open our hearts, and our minds. We need to be able to fully utilize our emotions, reason, thoughts, and feelings. We can’t bring perfect love into our imperfect lives without this kind of complete vulnerability.
Why? Because opening your heart allows love to change your mind. When Jesus touches your heart, your mind can follow suit and be completely transformed. Allowing your heart into the conversation will revolutionize your thinking. We believe that’s what Paul meant when he said, “You’ll be changed from the inside out”. (Romans 12:1)
If you’re in search of reasonable love, you’ll miss out on a love that’s extraordinary – on the opportunity to find a love you didn’t realize you had.
Jesus’ ideal model of love can rub off on our imperfect life. Why? Because, loving like Him is more attainable than we realize.
Jesus’ example and teachings show us at least five ways we can love more like Him. • Be mindful. We need to connect more deeply with our lives and the people in them, rather than living a detached, disconnected existence. • Be approachable. It’s important for people to feel safe approaching us; in other words, we must become less exclusive in our interactions with others and more welcoming to those who seek us out. • Be full of grace. We must be willing to relate to others in a less judgmental way. • Be bold. We have to she our fears, “For God gave us a spirit not of fear, but of power and love and self-control’ (2Timothy 1:7) • Be self-giving. We need to become less self-absorbed and more invested in those around us.
Petitions Offer Ways to Take Action
Following the disturbing and tragic murders of George Floyd, Breonna Taylor, and countless others at the hands of police, millions of people across the U.S have started and signed petitions to demand racial justice. In just two weeks, thousands of petitions have been created on Change. org calling on local leaders to ensure police reform and accountability, to enforce anti-racist policies at schools and universities, and to remove Confederate monuments.
In Illinois, this includes the following petitions: • 5900 signatures: Police reform in Wheaton • 17,920 signatures: Police reform throughout Illinois • 590 signatures: Elgin Police Chief called to condemn police brutality • 46,500 signatures: Diversify mural in downtown
Naperville • 6071 signatures: Anti-Racist curriculum at UC Booth
School of Business • 34,820 signatures: Exam exceptions for Black DePaul
Students • 830 signatures: UIUC, match student donations towards justice
In addition to these local petitions, dozens of high profile racial justice campaigns with over 79 million signatures in total can be found on Change.org’s new Justice Movement website: justice-change.org
“People are coming together in communities across the country to demand real, meaningful action by local authorities to advance racial justice,” said Ansa Edim, Senior Manager at Change.org. “We’re seeing people spurred by national movements, calling for tangible ways to demand change and shift our culture in their local towns, police departments and schools.”
Over and over, Jesus demonstrated these qualities to show us that they’re not unattainable ideals. Indeed, there’s a doable way to get an earthly hold onto a heavenly ideal.
It’s a common misconception that loving like Jesus means that you must become a doormat, a weak wimp, or a spoilsport. Some believe that loving like Jesus means we must deny ourselves everything, miss out on all the fun, and smother our joy. But that’s not true.
We can practice love in our daily relationships. When we give of ourselves and do good to others, we use higher level brain functions, that trigger neurochemical reactions in our brains.
Learning to love like Jesus isn’t illusive, out of reach, or pie-in-the-sky theology. It’s available to you and me right now. At times, we will fail – but even then, dust yourself off and start over. It’s not easy, but it can be done!
