How to Get More Out of Your Money When You’re in the Retirement Red Zone
“When you’re in the red zone, it might make sense to sell those securities. And you can do it in such a way that you pay zero taxes on those gains.”
The “retirement red zone” is a critical period of time right as you enter retirement where you can make some really savvy tax moves in order to cut down on your tax burden. It’s a time when your regular wages have come to an end (or are just about to), and you have to decide where your next source of income will come from. Social Security, pensions, retirement accounts, or other investments? How you structure this income will make a huge difference in what you owe in taxes. But you have control. You don’t have to take Social Security right out the gate. You don’t have to immediately start withdrawing from
This is because capital gains are not taxed if your income is within the two lowest income tax brackets. If you file jointly and your gains are less than $78,950 per year ($39,475 for single filers), the gains won’t be taxed. Capital gains can be taxed upward at a rate of 20%, so it can pay to come up with a strategy to avoid that. If you’ve already turned on your Social Security or pension benefits or been forced to take RMDs, you will potentially have to pay higher tax rates on those securities. It becomes considerably hard to avoid.
your pension, if you have one. You can decide when that money starts flowing. However, once these sources start flowing, it can be very hard or impossible to stop them, should you want to. With the SECURE Act in place as of Jan. 1 of this year, you no longer have to take required minimum distributions (RMDs) at age 70 1/2 — the new age is 72, which gives you more control over time as well. It’s another factor to consider as you’re planning out your income during retirement. With your securities, for example, you may have seen a lot of gains. Your nonretirement accounts have done well. When you’re in the red zone, it might make sense to sell those securities. And you can do it in such a way that you pay zero taxes on those gains.
However, if you can create a year or two of zero income — that is, none of your retirement income sources are flowing —you can eliminate your tax burden. You earned this money, right? You were prudent in investing years ago as you planned for retirement. So, why not get the most out of that money? When you’re in the retirement red zone, you have the chance
to make some really great moves. If you have any questions about how to do it or exactly when to do it, don’t hesitate to give us a call, and we can strategize together.
DO YOUR PART TO KEEP AMERICA BEAUTIFUL
Have you ever walked through a park and seen a plastic bottle or
improvement program close to home. Do your part to clean up your parks and spread awareness today. Start plogging. If you’re passionate about staying active and cleaning up your neighborhood, then this is the perfect activity for you! Plogging combines jogging and picking up litter, which takes care of your health and keeps your community clean. Anybody can do it: Just throw on your running shoes, grab a bag, head out the door, and pick up any stray bits An important goal during Keep America Beautiful Month is to spread awareness about recycling. There are various ways to educate those around you about recycling and encourage them to do their part. At work, for example, you can volunteer to lead a recycling initiative by printing off guides and fostering discussions on why recycling is so essential. At home, you can make a commitment with your family to fulfill the three R’s of recycling: reduce, reuse, recycle. To discover more ways to participate in Keep America Beautiful month, visit their website at KAB.org today! of trash you see on your morning jog or evening walk. Improve recycling through education.
wrapper lying on the ground? If so, did you pick it up and properly dispose of it? You might not have realized it, but in that moment, you took a small step toward keeping your community — and, by extension, America — beautiful! April is Keep America Beautiful Month, and folks who celebrate aim to help each community in every state stay clean and green. Created by the nonprofit organization Keep America Beautiful, this holiday offers a perfect opportunity to roll up your sleeves and work to better the place you live in. Here are three ways to show your appreciation for a green America this month. Volunteer for the Great American Cleanup. This event is one of America’s largest community improvement programs, with hundreds of thousands of people participating each year. In 2019, over 550,000 volunteers participated in the GAC to bring natural beauty back into their communities. 2020 marks this event’s 22nd year, and you can be a part of it this month! Volunteer your time with a local Keep America Beautiful affiliate or another community
WHEN SHOULD YOU TEACH YOUR CHILD TO READ?
AND HOW SHOULD YOU DO IT?
If your child is between 3–5 years old, you’ve probably noticed that they’re becoming a lot more talkative. By the time children are 4, they can usually speak in 5–8-word sentences. That makes this age range the perfect time to get your child interested in reading. However, this can raise a lot of questions. For starters, the question of how to get your child interested in reading is almost more important than when you do it. You may wonder how much time you should spend reading with them, how intensive reading time should be, and if you should make everything involving words and letters into a reading lesson. While the answers to these questions will vary from child to child, there’s one goal that every parent should strive for when teaching their child to read: Above all, help them enjoy it. When your child starts kindergarten, learning to read will be a part of the curriculum. This doesn’t mean you shouldn’t try to teach them to read earlier, though. If your child loves to read, it can make their learning experience much more enjoyable.
There are plenty of ways to help your child enjoy reading from an early age. One is to simply read to them and make storytime fun. If the pig goes oink or the mailman has a funny, nasally voice, bring those features to life. You can also have your kids help you with daily tasks that require reading, like making a to-do list or shopping at the grocery store. When they’re helping you and having fun, it won’t feel like learning at all!
Finally, the best way to make reading enjoyable for your children is to enjoy it yourself. Your kids watch what you do, and if they see you enjoying a good book, they’ll want to read even more. Reading opens up the world to them, and with your help, nothing will dull their love of learning.
What’s the oldest library in America? It’s an easy question to ask, but it has an unexpectedly complicated answer. Before the Industrial Revolution generated greater interest in public services, a library’s function and purpose varied widely. Several libraries in the United States claim to be the country’s “first,” but for different reasons. Colleges and the Clergy Some believe Harvard University hosted the first library in the United States. Harvard was the first university in the United States, founded in 1636, and clergyman John Harvard seeded the library with a 400-book collection. Soon after, however, Thomas Bray, another clergyman, began establishing the first free lending libraries throughout the colonies to encourage the spread of the Anglican Church. Not surprisingly, most of the libraries’ holdings were theological. A Few More Firsts During the 1700s, a few more “first” libraries were established. In 1731, Ben Franklin and a few others started the first subscription library in the United States. Members of subscription libraries could pay to buy books or borrow them for free. In 1757, 60 men founded the Library Company of Burlington in New Jersey, and Thomas Rodman received a charter from
King George II to operate the business in 1758. The library still operates under that charter today. The Library of
Burlington was the first library to operate out of its own building after a prominent resident donated the land in 1789. By the People, for the People In 1833, just as the Industrial Revolution was picking up steam, the Peterborough Town Library was founded in Peterborough, New Hampshire, at a town meeting. It was the first tax-supported free public library in the United States and in the world. Not long after that, the Boston Public Library, known as the “palace for the people,” became the first municipal public library in the country. The Boston Public Library was also the first library to have a space specifically for children. Out of all the “first” libraries in the country, these are the most probable progenitors of most libraries today — even if they weren’t exactly “first.”
THE OLDEST LIBRARIES IN AMERICA
Easy Deviled Eggs While the kids hunt for Easter eggs in the yard, whip up this easy deviled egg recipe for a hearty snack that’s sure to satisfy any craving.
Inspired by TasteOfHome.com
1/2 tsp ground mustard
• • • • •
1/2 cup mayonnaise
Salt, paprika, garlic powder, and pepper, to taste
2 tbsp milk
1 tsp dried parsley flakes
12 large eggs, hard-boiled
1/2 tsp dill weed
Fresh parsley, minced, and paprika for garnish
1/2 tsp fresh chives, minced
4. Mix mashed yolks with mayonnaise mixture. 5. Spoon or pipe the mixture back into the egg whites. 6. Garnish with fresh parsley and paprika. Refrigerate before serving.
1. In a large bowl, combine mayonnaise, milk, parsley flakes, dill, chives, mustard, salt, paprika, garlic powder, and pepper. Mix well and set aside. 2. Cut eggs lengthwise and remove yolks carefully to preserve egg whites. 3. In a small bowl, mash yolks.
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INSIDE This Issue
Are You in the Retirement Red Zone?
Keep America Beautiful Fostering a Love of Reading in Your Child
The History of Libraries in America Easy Deviled Eggs
Did You Spot These Movie Easter Eggs?
3 of Hollywood’s Best Movie Easter Eggs
DID YOU SEE IT?
Frank Abagnale Arresting ‘Himself’ At 15 years old, Frank Abagnale Jr. started his career as one of the U.S.’s most prolific con artists. Abagnale scammed the government out of money, impersonated pilots and doctors, and swindled banks, making his story seem like a Hollywood plot. In 2002, “Catch Me If You Can,” starring Tom Hanks and Leonardo DiCaprio, created just that. The movie follows the life of Abagnale, who briefly appears in the movie himself to arrest DiCaprio, who plays a young Abagnale. Today, Abagnale serves as a security consultant and teaches courses for the FBI. Indiana Jones and Han Solo Teaming Up No movie franchises are as prolific as George Lucas’ “Star Wars” and “Indiana Jones,” but they also share another Hollywood connection. Both series feature Harrison Ford, who plays Indiana Jones and Han Solo, and the franchises make references to each other, including hieroglyphics in “Indiana Jones” that feature R2-D2, C-3PO, and Princess Leia, as well as a club named Club Obi Wan. Though “The Empire Strikes Back” was filmed before “Indiana Jones,” Lucas had Ford in mind for his next great story and gave Han Solo a bullwhip in reference to Indy’s famous go-to tool.
This April, many kids will search excitedly for Easter eggs, but aside from the holiday treat, the term “Easter egg” has a fun alternate meaning when it comes to media. In this context, an Easter egg refers to a hidden surprise or message, and people often enjoy trying to find as many as they can. This spring, turn on some of these classic movies and see if you can spot a few of Hollywood’s Easter eggs yourself. Disney Royalty’s Family Tree At the beginning of Disney’s “Frozen,” released in 2013, Elsa and Anna’s parents leave to journey across the ocean. Their destination is unknown, and sadly, a treacherous storm sinks their ship. Three years later, their eldest daughter, Elsa, is coronated, and guests arrive at the castle. If viewers scan the crowd of visitors, they will see Flynn and Rapunzel from the 2010 Disney movie “Tangled.” (Notice the time difference?) The theory, confirmed by filmmakers, is that Elsa and Anna’s parents were traveling to Flynn and Rapunzel’s wedding. The connections continue with claims that the shipwreck in “The Little Mermaid” was their ship, and some even think that Tarzan’s parents were actually Anna and Elsa’s parents, who survived the wreck.
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