THE MERCER COUnTy CHROnICLE
May 10, 2012 • Page 3
A Look Back
MERCER COUNTY CHRONICLE
Vol. 115 no. 19USPS 339-15560
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This Mother’s Day, Think of Lifetime Financial Moves to Help Kids
MAKING SENSE OF INVESTING
106 S. Second St., Coldwater, OH Bus. 419-678-3252 TF. 866-678-3252 John.firstname.lastname@example.org
This article was written by Edward Jones for use by your local Edward Jones Financial Advisor.Edward Jones, its employees and financial advisors are not estate planners and cannot provide tax or legal advice. Consult a qualified tax specialist or attorney for professional advice about your situation.Financial Focus is a weekly column courtesy of...
John M. Yoder, Financial Advisor
If you’re a mother, you’ll probably get some nice cards and flowers on Mother’s Day. But of course, your greatest gifts are your children themselves. And since you want to see them happy and financially secure,perhaps you can use this Mother’s Day as an opportunity to consider ways to help your children at variousstages of their lives.So, let’s take a look at steps you can take:
When Your Children Are Young
* Teach them to be savers — Encourage young children to put away part of their allowance, or any moneythey receive for household jobs, in a savings account. Offer to match their contributions dollar for dollar.* Help them become investors — Consider giving your children a few shares of stock in companies withwhich they are familiar. By following the movements of their stocks with them, you can explain how the marketswork and how increasing share ownership is one key to helping build wealth.* Contribute to a college savings plan — One of the best things you can do to boost your children’schances of success in life is to help them go to college. You’ve got several good college-savings vehiclesavailable, such as a 529 plans, Coverdell Education Savings Accounts and custodial accounts. Your financialadvisor can help you choose the vehicle that suits your needs and objectives.
When Your Children Enter the Working World
* Encourage IRA contributions — An Individual Retirement Account (IRA) is a great retirement savingsvehicle. As long as your children have earned income, they can contribute to an IRA, so you may want to helpthem “max out” on their contributions each year. While you can’t directly contribute to a child’s IRA, you canwrite a check to your child and encourage him or her to use it for funding an IRA.* Make long-term care arrangements — If you needed long-term care, such as an extended nursinghome stay, and you had inadequate financial preparations, the burden could fall on your children. Now is thetime to consult with your financial advisor to begin preparing for possible long-term care costs.
When Your Children Reach Middle Age
* Communicate your financial situation and estate plans — Don’t leave adult children in the dark as toyour financial information. Share everything you can about how much you own, where you keep your assetsand how you plan to eventually distribute them. By clearly communicating your situation and wishes now, youcan avoid major problems later.* Create a durable power of attorney — By creating a durable power of attorney, you can appoint another person, such as an adult child, to conduct your business and financial affairs if you become physically or mentally incapacitated. Such a move can help reduce stress your children may be feeling, while allowing themto make moves that can help preserve your finances.
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Drivig to a 1:00 pmappoitmet just the other da Icame upo a slow movig vehiclethat was all over the road. youguessed it he was o the cellphoe ad obviousl ot paigattetio to the road. It reallbecomes scar whe ou getbehid these people ad this guwas o exceptio. He crossed theceter- lie several times ad Icould’t help but thik about thosepeople that have recetl lost theirlives from head o crashes fromcrossig the ceter-lie.I was glad to see him tur at theext light hopig he would at leastget off that phoe. Somethig isgoig to have to be doe beforesomeoe crashes head o ito abusload of school childre.It sure is amazig what a littlerai will do for the farmers; thecor that was i the groud isreall shootig up ad lookiggood. I thik most of the farmerswill be gettig the remaider of the crops i the fields soo. Thereare a lot of “ifs” associated withfarmig ad rai is certail otthe least of their worries. I guessthat is as good a reaso as a thatwould make a ma chage hismid about goig ito farmig.There are too ma variablesi farmig ad that is oe of thema reaso ot to start farmig.But ou kow what I am sure gladthere are those out there producigall the good food that we eat eachda. We would be i reall deeptrouble if the all quit farmig.That’s M Opiio..........What’s yours??
From the Archives of TheMercer Cout Chroicle
10 YEAR AGO (2002)
The Kell Miller Circus,fouded durig the Depressio ismarkig its 64th aiversar thisear, 2002 i Coldwaster. Foudedi 1938, b Obert Miller ad hissos Kell ad Dores, it still offersthe same great etertaimet itpreseted i its begiigs.Faig/Howe Associates,Ic., Civil Egieerig Divisio,aouces the promotio i theirCelia office of Craig W. Mescherto Executive Director; Bria M.Ma to Chief Civil Egieer; adJared C. Ebbig to OperatiosMaager.
25 YEARS AGO (1987)
Voters i the Southwest SchoolDistrict of Fort Recover passedtheir operatig lev o the thirdtr b a 692-408 margi lastTuesda.Ra Feltz of Cassella will havea displa of the machier whichhe has built to scale at the MariaStei Heritage Museum. Hefeatures a ditch digger o whichhe spet 3,000 hours to build.
50 YEARS AGO (1962)
Joh Kramer tured overthe first shovelful of dirt othe $1.3millio Upper WabashImprovemet project whichaffects 3,000 propert owers iDarke ad Mercer couties.
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