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Wednesday • February 15 • 2017
Marching Beyond the Mountain Thornton Tow nship presents Marching Beyond the Mountain: A Black History Month event featuring civil rights activists and writer Dick Gregory. The event, which is co-sponsored by the Human Relations Commission and the Youth and Adult Family Services Department, takes place from 11 a.m. to 2 p.m. Friday, February, 17 at the Kindig Performing Arts Center at South Suburban College. Gregory has lived a life far from ordinary. He is listed on Comedy Central’s Top 100 Stand-Up Comedians of All-Time, and in the 1960s helped bridge African-American comedy to Caucasian audiences with much success. After the 1998 birthday commemoration for Dr. Martin Luther King, Jr., then U.S. President Bill Clinton said, “I love Dick Gregory, he is one of the funniest people on the planet.” Gregory began performing comedy while in the U.S. Army in the mid-1950s. By using irony and satire, he held up a lens to American society and its racial stereotypes, using comedy and social action to address injustice and discrimination in American society.
Financial Advice Column
What’s Smarter – Paying Off Debts or Investing? BOB KRYGSHELD You r dec i sion about what you do w it h disposable income could ma ke a rea l difference in your ability to achieve your important financial goals. W h e t h e r a y e a r end bonu s f rom you r employer, or a si zable ta x refund, or even an i n her it a nc e, don’t let it “s l ip t h roug h you r fingers.” Instead, consider: investing the money or using it to pay off debts. W hich of these choices should you pick? There’s no one “right” answer, as ever yone’s situation i s d i f ferent . But here are a few general considerations: • Dist ing uish bet ween “good” and “bad” debt. Not a l l t y pes of debt are created equal. Your mortgage, for example, is probably a “good” form of debt. You’re using the loan for a valid purpose – i.e., living in your house – and you likely get a hefty tax deduction for the interest you pay. On t he ot her ha nd, nondeduct ible consumer debt that carries a high interest rate might be considered “bad” debt – and this is the debt you might want to reduce or eliminate. By doing so, you can free up money to save and invest for retirement or other goals. • Compare making extra mortgage payments vs. investing. When you do have some extra money, putting it towa rd your house may not be the best move. From an investment standpoint, your home is
somewhat “illiquid” – it’s not a lways easy to get money out of it. If you put your extra money into traditional investments, such as stocks and bonds, you may increase your g row t h potent ia l, a nd you may gain an income stream through interest payments and dividends. • Consider tax advantages of investing. Apart from you r mor tgage, you r other debts likely won’t provide you with any tax benefits. But you can get tax advantages by putting money into certain types of investment vehicles, such as a traditional or Roth IRA. When you invest in a traditional IRA, your cont r ibut ion s may be deduct ible, depend i ng on your income, and your money grows on a ta xdeferred basis. (Keep in mind that taxes will be due upon w ithdrawals, and any withdrawals you make before you reach 59½ may be subject to a 10% IRS penalty.) Roth IR A cont r ibut ions a re not deductible, but your earnings are distributed ta x-f ree, prov ided you don’t take w ithdrawals until you reach 59½ and you’ve had your account at least five years. It’s not always an “eitheror” situation; you may be able to tackle some debts and still invest for the future. This article was written by Edward Jones for use by your local Edward Jones Financial Advisor, Bob Krygsheld 501 W Exchange St. Crete, IL 60417 (708) 672-2892.