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Albemarle Tradewinds February 2016 Final Web

February 2016

Put Your Financial

Put Your Financial “Puzzle” Together Submitted by Chuck O’Keefe January 29 was National Puzzle Day, with puzzle celebrations and events taking place at museums, libraries and other venues across the country. Why this date was chosen – or why National Puzzle Day even exists – is something of a mystery. But as an investor, you can find value in the concept of a puzzle – specifically, in putting together the pieces of your financial puzzle. What are these pieces? Here are the essential ones: • Growth – At different times in your life, you will have various goals – purchasing a first or second home, sending your children to college, enjoying a comfortable retirement, and so on. While these goals are diverse, they all have one thing in common: To achieve them, you’ll need some growth potential in your investment portfolio. The nature and the extent of the growth-oriented vehicles, such as stocks and stock-based instruments, in your holdings will depend on your specific goals, risk tolerance and time horizon – but growth opportunities you must have. • Income – Income-producing investments, such as bonds and dividend-paying stocks, can help supplement your earned income during your working years and provide you with a valuable income stream when you’re retired. Plus, bonds and other income-producers can help balance a portfolio that might otherwise be too heavy in growth vehicles – which, as you know, are typically higher in risk. • Taxes – Taxes will always be part of the investment equation. Whenever possible, you’ll want to take advantage of those accounts that let you make tax-deductible contributions and that provide the opportunity for tax-deferred growth, such as a traditional IRA and your 401(k) or other employer-sponsored retirement plan. You may also find that you can benefit from tax-free investments, such as some types of municipal bonds and a Roth IRA. (Your Roth IRA contributions are not tax-deductible, but your earnings grow tax free, provided you’ve had your account at least five years and you don’t start taking withdrawals until you reach 59½.) • Protection – You can’t just invest for your future – you also have to protect it. If something were to happen to you, would your family be able to remain in your home? Would your children still be able to go to college? To help ensure continuity and security in your family’s lives, you’ll need to maintain adequate life and disability insurance. Also, you will need to protect your independence in your retirement years, as you no doubt would want to avoid burdening your grown children with any financial burden. To attain this type of freedom, you may have to guard against the potentially catastrophic costs of long-term care, such as an extended nursing home stay. A financial professional can suggest ways of meeting these expenses. • Legacy – After working hard your whole life, you’d probably like to leave something behind to your children, grandchildren, other family members and possibly even charitable institutions. To create the legacy you desire, you will need to create a comprehensive estate plan. Because such a plan may involve a will, living trust and other complex legal documents, you will need to work with your legal and tax advisors. Try to put these pieces together to help complete your financial “puzzle” – when you do, you may well like the picture that emerges. Chuck O’Keefe is a Financial Advisor with Edward Jones in Elizabeth City. Edward Jones 207 N Water St Elizabeth City, NC 27909-4417 (252) 335-0352 Halstead @ GAATS, You Relax, We do the Tax el CinoCa eHringHaus MCCartHur Mall 1502 Ehringhaus St. Bookkeeping, Payroll Services Income Tax, IFTA, etc. Free ITIN # w/paid Tax Return “LIBRE ITIN” 10% $50 DIScouNT GAATS, LLC Godwin and Associates Tax Service, LLC TAX SERVICE 252-331-5859 Elizabeth City Pasquotank County The Elizabeth City-Pasquotank County Senior Center “Serving the Young at Heart, Adults 55 or Older” The Senior Center offers a wide variety of exciting programs, trips and activities for the senior citizens of Elizabeth City and Pasquotank County. We strive to create a “family” atmosphere that promotes social, mental, physical and emotional overall well-being. Lauren Turner Located next to Dunkin’ Donuts Senior Center Coordinator in Elizabeth City NC Senior Center Phone: (252)337-6661 or (252)337-6662 22 Albemarle Tradewinds February 2016

Last month I encouraged everyone to attend the North Carolina Wildlife Resource Commission Public Hearing in your particular district. This is where the proposed regulations for the upcoming year is presented. For the bowhuntor in North Carolina there were some interesting proposals set forth for the coming year. The following are changes that I believe would be of interest to those hunting with the bow and arrow in North Carolina. Bear: Change the definition of a bear cub from any bear weighing less than 50 pounds to any bear weighing less than 75 pounds. ( necessary to make the Commission’s rules consistent with state law adopted in the 2015 legislative session) Alligators: (Can you believe it?) : Allow the hunting of American alligators under the following conditions: The season for American alligators is from Sept. 1 to Oct. 1 Hunting is by permit only The bag limit is 1 per permit Manner of take is: catch pole, harpoon, gig, wooden peg, bang stick, ARCHERY equipment and artificial lights.(firearms may only be used to dispatch American alligators that are restrained) Justification: There is increased interest in hunting American alligators in Eastern North Carolina and population evaluations indicate that the population can sustain a limiuted harvest. Elk: Open an Elk season with the following restrictions: The season for Elk is from Oct 1 to Nov. 1 Hunting is by permit only The bag limit is 1 per person Elk may be taken by ARCHERY equipment or any legal firearm Justification: There is increased interest in hunting elk on private land in western North Carolina and population evaluations indicate the herd can sustain linited harvest. Game Lands: Remove posted Archery Zones from the permit requirements for hunting turkeys on Harris Game Land. (manner of take was already restricted to archery hunting) What happens next? A written record of all public comments will be compiled and reviewed by Commission staff and by the commissioners. Our recommendations, biological information from field surveys, harvest records, changes in habitat, fish and wildlife populations, breeding stocks. Game lands use and other conditions that affect wildlife will be considered. Input will be accepted by the Wildlife commission until February 8, 2016. You can comment on the regulation proposals on the Commission Website, Don’t forget the Dixie Deer Classic coming up at the State fairgrounds March 4 – 6. Check out the NCBA webpage! Until next month, continue practicing and introducing new people to the sport of archery. Respectfully sub,itted, Talmage Dunn, NCBA district 1 rep. Albemarle Tradewinds February 2016 23