FIT-N-WISE - Wise County Messenger

Although it sounds
trange, you may encouner
situations in which you
ave to accept money even if
ou’d rather not. Such is the
ase with required minimum
istributions (RMDs) from
our traditional IRA, 401(k)
r other employer-sponsored
etirement plan. But thanks
o recent legislation, you can
gnore the “required” part of
MDs — at least for a year.
Specifi cally, lawmakrs
recently placed a oneear
moratorium on taking
RMDs) for 2009. If you’re
ot familiar with the rules
overning RMDs, here’s a
ittle background: Generally,
he IRS requires you to begin
aking RMDs in the year in
& Bridal
Bride Groom
Guide 2009
Publication Date:
Thursday, January 29
Advertising Deadline:
Wednesday, January 14
which you turn 70-1/2, or no
later than April 1 of the following
year. For example, if
you turn 70-1/2 in 2009, you
would normally be required
to take your fi rst RMD by
April 1, 2010. You must also
think about RMDs if you
are a benefi ciary of someone
else’s IRA, 401(k) or other
retirement account, because
when the account owner
dies, regardless of age, you
must generally begin taking
RMDs. And this is also true
if you are the benefi ciary
of a Roth IRA, even though
Roth IRA owners are never
required to take RMDs.
But thanks to the new
legislation, you can skip the
required 2009 distribution if
SUDOKU SOLUTIONS
If you have a service or product
that is obvious to the planning of a
wedding, such as tuxedo rental, gown
sales, gift registry, fl orist, bakery,
jeweler or travel agency, you’ll
want to be in the Bridal Guide.
But think past the ceremony and
honeymoon. The couple will need
a car, a bank, a doctor, a fi nancial
planner, furniture, appliances, cell
phones, televisions, a home or
apartment...the list goes on and on.
Whatever your product or service,
think how it can be of use to a couple
just beginning their lives together.
You’ve got until Jan. 14
to say ‘I will’.
Any of our unoffi cial
’wedding planners’,
Lori, Michelle, Denise or Lisa
will help you put together
the perfect ad for the
Bridal Guide.
Give them a call today at
940-627-5987
FINANCIAL FOCUS
ALL AROUND WISE, Decatur, Texas, Thursday, January 15, 2009 9
Enjoy one-year ‘holiday’ from required minimum distributions
you reach 70-1/2 in 2009 or if
you’re a benefi ciary currently
required to take RMDs. You
also have until Dec. 31, 2010,
to accept the 2010 RMD,
which will be based on your
retirement account balance
at the end of 2009.
Why did Congress decide
to provide this RMD “holiday”
for 2009? For the answer,
you need look no farther
than your IRA or 401(k)
account balance. As you are
well aware, 2008 was not a
stellar year for the stock market.
Consequently, as 2008
drew to a close, the market
value of your IRA or 401(k)
was probably considerably
lower than it was in earlier
years. This could have been a
problem for you if you had to
start taking RMDs in 2009,
because these distributions
are based, in part, on your
account balance at the close
of the previous year — which
means you may well have
had to sell some stocks or
other investments in your
retirement plan when their
price was down. To help people
avoid having to “sell low,”
Congress acted.
Ultimately, you will have
to end up taking distributions
again. But before that
happens, take some time to
decide how large a distribution
you should accept each
year. If you need the money,
you might have to take out
more than the RMD. But if
you can get by on just the
minimum distribution, you
may want to do so, thereby
keeping as much of your retirement
account as possible
in a tax-deferred account.
■
• Mobile and Stationary
Auto Detail Service
• Personal, Business, Oil Field...
• Autos, Trucks, Semi’s, Trailers...
• Gift Certifi cates Available
Contact Joey @
940-366-2162 or elitedetail@ymail.com
Subscribe today
and get
the rest
of the
story.
Financial Focus is provided
by Edward Jones Investments,
represented in Wise
County by Randy Bowker
and Jeremy House in Decatur
and Jay Craddock in
Bridgeport.
❑ One Year In-County ................. $35
❑ One Year Out-of-County .......... $40
❑ One Year Out-of-State ............. $45
❑ Two Year In-County ................. $60
❑ Two Year Out-of-County .......... $70
❑ Two Year Out-of-State ............. $80
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Address:______________________
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State:_________ Zip Code:_______
Clip and mail to:
Wise County Messenger
P.O. Box 149 • 115 South Trinity
Decatur, Texas 76234
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