Saturday, July 11, 2020

Invest in Your Family and Community

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Oregon FBI goes virtual with ‘Teen Series’

Portland's FBI field office has launched an online learning experience for students designed to let them explore the world of law enforcement.

Lincoln City Police officers arrest identity theft suspects

Lincoln City Police Officer Hayden Tolzman responded to a report of possible identity theft by a male and female at the Shearwater Inn, Sunday, July 5, that led to a foot chase, taser deployment and a stolen gun.

Most restaurants and bars in Oregon following COVID-19 requirements

Oregon Liquor Control Commission inspectors swept across Oregon over the Fourth of July weekend and checked 800 businesses for compliance with social distancing requirements issued by Governor Kate Brown.

Biplane soars through space and time

In the skies over Depoe Bay and Lincoln City, a modern-day barnstormer in an open-cockpit biplane is giving passengers a journey through space and time seldom found at the soulless tarmacs of modern airports.

DA says Clark County Seven did not commit bias crime

Seven Clark County men were recently arrested in Lincoln City for illegal fireworks, yelling racial slurs and using Nazi salutes to harass a black family on Independence Day, prompting the Lincoln County District Attorney to issue a statement about the incident.

Father and son dispute leads to attempted murder charges

Oregon State Police say a son used his truck as a weapon against his father after an altercation while driving on Independence Day, nine miles east of Waldport.

K9 Bonni captures hit and run suspect in Newport

Lincoln County Sheriff K9 Bonni and her handler, Deputy Zach Akin, located and apprehended a man alleged to be the perpetrator of a hit and run on Yaquina Bay Bridge Saturday, July 4.

‘Lil Wes’ is back in Lincoln City and has put cancer in remission

Wesley Allen Michael Culver said he went into shock when he got the news that he had cancer on December 12, 2019 at just 14-years-old.

UPDATED: Seven Clark County men arrested for harassment in Lincoln City

Seven Clark County, Wash. men were arrested on Independence Day by Lincoln City Police for harassing a black family, launching illegal fireworks and causing a disturbance on the beach in front of Inn at Spanish Head. 

Lincoln County reports fourth local COVID-19 death

A 96-year-old woman is Lincoln County’s fourth reported local COVID-19 related death. She died July 2 at her residence and had underlying medical conditions.

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Invest in Your Family and Community

Why do you invest? For many people, here’s the answer: “I invest because I want to enjoy a comfortable retirement.” And that’s certainly a great reason, because all of us should regularly put money away for when we’re retired. But you can also benefit by investing in your family and your community.

Let’s start with your family members, particularly the younger ones. How can you invest in their future? One of the best ways is to help send them to college. A college degree is still a pretty good investment: The average lifetime earnings of a college graduate are nearly $1 million higher than those of someone with a high school degree, according to a study by the U.S. Census Bureau.

To help your children or grandchildren pay for any college, university, vocational school or other postsecondary education, you may want to open a 529 savings plan. With this account, withdrawals are federally tax free, as long as the money is used for qualified higher education expenses, including those from trade and vocational schools. (However, if you withdraw some of the earnings on your account, and you don’t use the money for qualified expenses, it will be taxable and can also incur a 10% federal tax penalty.) Plus, you retain control of the funds until it’s time for them to be used for school, so if your original beneficiary chooses not to pursue some type of higher education, you can name a different eligible beneficiary.

Another way to invest in your family is to help your adult children avoid feeling obligated to provide financial assistance to you. For example, if you ever required some type of long-term care, such as an extended stay in a nursing home, could you afford it? The average cost for a private room in a nursing home is more than $100,000 per year, according to a study by Genworth, an insurance company. And Medicare typically pays very few of these expenses. So, to avoid burdening your adult children – while also preserving your own financial independence – you may want to consider some type of long-term care insurance. A financial advisor can help you determine what coverage may be appropriate.

Moving beyond your family, you may want to invest in the social fabric of your community by contributing to local charitable, civic, educational or cultural groups. Of course, now that we’re in the holiday season, it’s the perfect time for such gifts. Furthermore, your gift will be more appreciated than in years past because one of the chief incentives for charitable giving – a tax deduction – was lost for many people due to tax law changes, which raised the standard deduction so significantly that far fewer people chose to itemize deductions. However, you might still be able to gain some tax benefits from your charitable gifts. To name one possibility, you could donate financial assets, such as stocks that have risen in value, freeing you of potential capital gains taxes. In any case, contact your tax advisor if you’re considering sizable charitable gifts.

Saving for your retirement will always be important. But don’t forget about investing in your family and your community – because these investments can provide satisfying returns.

This article was written by Edward Jones for use by local Edward Jones Financial Advisor Wendy Wilson.

Edward Jones, its employees and financial advisors cannot provide tax or legal advice. You should consult your attorney or qualified tax advisor regarding your situation.

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Wendy Wilson
Wendy Wilson
As an Edward Jones financial advisor, I believe it’s important to invest my time to understand what you’re working toward before you invest your money. It's also important to understand the level of risk you're comfortable accepting when investing so we can balance it with the steps necessary to reach your long-term goals.

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Lincoln City ‘lockdown protesters’ on Highway 101

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UPDATED: Seven Clark County men arrested for harassment in Lincoln City

Seven Clark County, Wash. men were arrested on Independence Day by Lincoln City Police for harassing a black family, launching illegal fireworks and causing a disturbance on the beach in front of Inn at Spanish Head. 

Lincoln City Police officers arrest identity theft suspects

Lincoln City Police Officer Hayden Tolzman responded to a report of possible identity theft by a male and female at the Shearwater Inn, Sunday, July 5, that led to a foot chase, taser deployment and a stolen gun.

Father and son dispute leads to attempted murder charges

Oregon State Police say a son used his truck as a weapon against his father after an altercation while driving on Independence Day, nine miles east of Waldport.

Most restaurants and bars in Oregon following COVID-19 requirements

Oregon Liquor Control Commission inspectors swept across Oregon over the Fourth of July weekend and checked 800 businesses for compliance with social distancing requirements issued by Governor Kate Brown.

Biplane soars through space and time

In the skies over Depoe Bay and Lincoln City, a modern-day barnstormer in an open-cockpit biplane is giving passengers a journey through space and time seldom found at the soulless tarmacs of modern airports.

Twin moms deliver babies 23 hours apart

Twins often have a special connection that binds them closer than most siblings, and for twin sisters Tammy and Tracy King, this connection became even tighter when they had their babies within 23 hours of each other at Samaritan North Lincoln Hospital’s Family Birthing Center.

Oregon FBI goes virtual with ‘Teen Series’

Portland's FBI field office has launched an online learning experience for students designed to let them explore the world of law enforcement.

‘Lil Wes’ is back in Lincoln City and has put cancer in remission

Wesley Allen Michael Culver said he went into shock when he got the news that he had cancer on December 12, 2019 at just 14-years-old.

DA says Clark County Seven did not commit bias crime

Seven Clark County men were recently arrested in Lincoln City for illegal fireworks, yelling racial slurs and using Nazi salutes to harass a black family on Independence Day, prompting the Lincoln County District Attorney to issue a statement about the incident.