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NorthKitsapHerald.com
Be Money Wise It’s Tax Time
Early IRA Funding Can Pay Off Over Time
SO MUCH PLANNING GOES INTO
You’ve got until April 15 to contribute to your Individual Retirement Account (IRA) for the 2012 tax year. That’s not a lot of time, but if you have some money available, and you haven’t completely funded your IRA for 2012, consider doing so before the deadline. And once you’ve “maxed out” on your IRA for last year, why not get a jump on 2013? Actually, you could have started contributing to your 2013 IRA as early as Jan. 2. In fact, if you can
RETIREMENT.
get into the habit of fully funding your IRA each January, you’ll give your money 15 extra months of growth potential, as opposed to waiting until mid-April of the following year.
IFETIME
Friday, January 25, 2013 | North Kitsap Herald
BUSINESS North Kitsap
Entrepreneur sees Kitsap as a ‘sustainable place’ for high-tech Treverton as a contractor and said they hit it off — KINGSTON — Trevor Hall even “bounced some Hall is leading by example ideas” about LootTap off when he says he hopes Treverton. Treverton was diagmore technology-based companies set up shop in nosed with rare cancer of the appendix and put develKitsap County. Hall is a software develop- opment of the site on hold er with an eye for business while he was in treatment. and recently became CEO Treverton died July 28, according to his of WealthVisor. obituary, and Hall com, a financial said he has been advice website working with staff which connects and Treverton’s consumers to lawyers about financial advisers. rebooting the site. “I’d love Hall became CEO WealthVisor to of WealthVisor in be that catalyst,” November and Hall said. He “I’d love reincorporated the spent 15 years company in Kitsap commuting to a WealthCounty. job in Seattle from Visor to At its peak, his home, a two200,000 unique acre spot between be that visitors a Suquamish and catalyst.” month viewed Kingston, and said WealthVisor, and Kitsap is known — Trevor Hall said financial on the other side Hall, CEO of advisers from all WealthVisor. of the water as a com, on over the country vacation spot. He encouraging participate on the said businesses more tech site. He said the need to know companies to Kitsap is a sustainlocate in Kitsap site is gaining ground again, seeable place to start County ing about 120,000 and grow a highunique visitors a tech business. Hall is also the found- month. There has not been a erMcFadden, of LootTap, a website Pat AAMS 19740 7th Ave., Suitedevice 114 and mobile app. direct competitor since Poulsbo Village Consumers plug in an item the company was found360-779-6450 they’re searching for — say, ed, Hall said. Other busia couch — and LootTap ness search sites, such as scours different Internet Yelp and Angie’s List, are sites for the consumer. He indirect competitors, but is transitioning out of man- WealthVisor offers a unique aging LootTap as he rede- online service. WealthVisor targets the velops WealthVisor. middle range of financeHall, whose office is in Kingston, said it is “next based businesses — to impossible” to recruit investors, certified public Pat technology McFadden, AAMS workers to accountants, insurance 19740 7th Ave., Suite 114 commute to Kitsap, but he brokers and other finanPoulsbo Village hopes to support training cial advisers — companies 360-779-6450 programs to mobilize soft- not large enough for their ware engineers already in own marketing campaigns, but big enough to continue Kitsap. Hall was approached signing more clients. “Financial professionals a year ago by the site’s founder, William “Chip” really need as much guidTreverton, to become ance or help as they can his successor. Treverton get” to be visible online, founded the site in 2009 in Hall said. “So many peoSeattle. Hall had worked for See TECH, Page A13 By MEGAN STEPHENSON
mstephenson@northkitsapherald.com
So Much PREPARING FORPlanning RETIREMENT.
W WHAT? W WHAT? HAVEinto YOURetiReMent THOUGHT . goeS
If you factor in all the years you’ll be contributing to your IRA before you retire, those extra months of growth opportunities, repeated over decades, could end up providing you with a fair amount of extra cash when you start tapping into your IRA at retirement.
ABOUT TAXES AS WELL? have You thought about taxeS aS Well? It’s likely that your retirement income may come from many sources, such as Social Security, pension distributions, a 401(k) or IRA withdrawals. That’s why, if taxes are a concern for you, it’s important to choose the right investments for your portfolio. At Edward Jones, we have many options that can give you more control over your taxes, so you can enjoy what you’ve worked so hard to achieve.
Of course, you may not find it all that easy to come up with the full IRA contribution amount at one time. (In 2013, you can put up to $5,500 into a Roth or traditional IRA, or $6,500 if you’re 50 or older.) But if you look at your entire financial picture, you may be able to think of some resources. Here are a few suggestions:
FETIME FOR to retire, you’re PREPARING probably concerned about making RETIREMENT. the right financial decisions. Edward Jones, its employees and financial advisors cannot provide tax advice. You should consult with a qualified tax specialist for professional advice on your specific situation.
Put your tax refund to work. In 2012, the average tax refund was about $3,000, according to the IRS. If you received that amount in 2012, and you applied it toward your IRA, you would already have met almost half the contribution limit (if you are 50 or older) or more than half (if you’re younger than 50).
call today to see how our unique, face-to-face approach
’ll sit down, face to face, to develop amakes strategy to help your finances meet us best-suiteddesigned to help long-term investors meet their
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current needs and future financial goals.
So Much Planning Glenn M Anderson, AAMS® Financial Advisor
Jessie Nino
Financial Advisor .
.
19032 Jensen Way Ne Poulsbo, WA 98370 360-779-7894
18887 St Hwy 305 Ne
Suite 100 Take advantage of interest payments or dividends. Poulsbo, WA 98370 360-779-6123 If you own income-producing investments, you may www.edwardjones.com Member SIPC Todd E Tidball find that they can help you fund your IRA early. For Financial Advisor example, if you own dividend-paying stocks, and you 18887 St Hwy 305 Ne don’t typically reinvest the dividends, consider putting Suite 100 Poulsbo, WA 98370 some of these funds into your IRA. (Keep in mind, 360-779-6123 income may come from It’s likely that your retirement though, that stocks can reduce or discontinue dividends many sources, such as Social Security, pension distributions, at any time). And you can do the same thing with any Jessie a 401(k) or IRA withdrawals. That’s why, if taxesNino areSte. a interest payments you receive from bonds. 18887 State Hwy 305, Ron Rada Glenn100 Anderson, AAMS Bim Prince Clint Boxman, AAMS concern forNE,you, it’s important toState choose the investments Hwy 305 Poulsbo 8079 E.“windfalls” Main St., Suite 111 19032 Jensen Way NE 25960 Ohio Ave. Suite 101 8202 NE Hwy 104, Ste right 106 Put other into your IRA. If you receive a Manchester Downtown Poulsbo Downtown Kingston Kingston have many options your portfolio. windfall, such as a bonus from your for employer or a gift At Edward Jones, we360-779-6123 360-871-0998 360-297-8664 360-297-8677 thatIRA. can give you more control over your taxes, so you360-779-7894 can of cash, think about putting it into your If none of these options present themselves, andyou’ve you worked so hard to achieve. enjoy what can’t afford to write out a big check to fund your IRA Edward Jones, its employees and financial advisors cannot provide tax advice. You should very early in the year, do the best consult you can reachtax specialist for professional advice on your specific situation. with ato qualified the contribution limit as soon as possible. To make this happen, consider setting up a monthly automatic call today to see how our unique, face-to-face approach transfer from your checking or savings account into makes best-suited to help long-term investors meet their your IRA. Even if you were to divide theseustransfers into 15 equal payments totaling $5,500 (or $6,500 current needs ifand future financial goals. Todd Jay Seatonyou would still be Schelley Dyess Todd Tidball Tidball Glenn Anderson Ron Glenn Anderson, AAMS you’re 50 orRada older), your Bimfunding Prince Clint Boxman, AAMS 18887 State Hwy 305, Ste. Jessie 19032 NE 600 KitsapSt.,St.,Suite Suite111102 2299 AveSuite Suite101 102 18887 Hwy 305Nino NE, Suite 100100 E. Main Glenn M Anderson, AAMS® 8202 19032Jensen Jensen Way Way NE 25960 OhioBethel Ave. NE, NE State Hwy 104, Ste 106 IRA8079 more quickly than if you would have scrambled to Hwy 305 Poulsbo Financial Advisor Port Orchard PortAdvisor Orchard Poulsbo Manchester Downtown Downtown Poulsbo Poulsbo Downtown Kingston Kingston Financial contribute in the last few months before the tax filing 18887 St Hwy 305 Ne 360-779-6123 360-876-7538 360-876-3835 360-779-6123 360-871-0998 360-779-7894 360-779-7894 360-297-8664 360-297-8677 19032 Jensen Way Ne Suite 100 deadline. Poulsbo, WA 98370
goeS into RetiReMent. have You thought about taxeS aS Well? .
to retire, you’re probably concerned about making the right financial decisions. ll sit down, face to face, to develop a strategy designed to help your finances meet
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360-779-7894 No matter when you do it, fully funding your IRA is a great way to help build resources retirement. Toddfor E Tidball But the earlier, the better — so doFinancial whatever you can Advisor to beat that tax deadline each year. 18887 St Hwy 305 Ne
360-779-6123
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This article was written by EdwardPoulsbo, JonesWAfor use by 98370 your local Edward Jones Financial 360-779-6123 Advisor.
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Jay Seaton
600 Kitsap St., Suite 102 Port Orchard
Schelley Dyess
2299 Bethel Ave Suite 102 Port Orchard
Todd Tidball
18887 Hwy 305 NE, Suite 100 Poulsbo
Member SIPC