As you know, the gig economy has been booming over the past several years. If youre thinking of using your skills to take on a side gig, what should you do with the money youll make?Theres no one right answer for everyone, and the decisions you make should be based on your individual situation. And of course, you may simply need the extra income to support your lifestyle and pay the bills. But if you already have your cash flow in good shape, and you have some freedom with your gig money, consider these suggestions: Contribute more to your IRA. If you couldnt afford to contribute the maximum amount to your IRA, you may find it easier to do so when you have additional money coming in from a side gig. For the 2023 tax year, you can put in up to $6,500 to a traditional or Roth IRA, or $7,500 if youre 50 or older. (Starting in 2024, this extra $1,000 catch-up contribution amount may be indexed for inflation.) The amount you can contribute to a Roth IRA is reduced, and eventually eliminated, at certain income levels. Look for new investment opportunities. If youre already maxing out your IRA, you might be able to find other investment possibilities for your side gig money. For example, if you have young children, perhaps you could use some of the money to invest in a 529 education savings plan. A 529 plan offers potential tax advantages and can be used for college, qualified trade school programs, and possibly some K-12 expenses. Please keep in mind that potential tax advantages will vary from state to state. Build an emergency fund. Life is full of unexpected events and some can be quite expensive. What if you needed a major car repair or required a medical procedure that wasnt totally covered by your health insurance? Would you have the cash available to pay these bills? If not, would you be forced to dip into your IRA or 401(k)? This might not be a good move, as it could incur taxes and penalties, and deprive you of resources you might eventually need for retirement. Thats why you might want to use your gig earnings to help fund an emergency fund containing several months worth of living expenses, with the money kept in a liquid, low-risk account. To avoid being tempted to dip into your emergency fund, you may want to keep it separate from your daily spending accounts.   Pay down debts. Most of us will always carry some debts, but we can usually find ways to include the bigger ones mortgage, car payments and so on into our monthly budgets. Its often the smaller debt payments, frequently associated with high-interest-rate credit cards, that cause us the most trouble, in terms of affecting our cash flow. If you can use some of your side gig money to pay down these types of debts, you could possibly ease some of the financial stress you might be feeling. And instead of directing money to pay for things you purchased in the past, you could use the funds to invest for your future.As weve seen, your side gig money could open several promising windows of opportunity so take a look through all of them. Chad Choate III, AAMS828 3rd Avenue WestBradenton, FL  34205941-462-2445chad.chaote@edwardjones.com This article was written by Edward Jones for use by your local Edward Jones Financial Advisor. Edward Jones, Member SIPC

Its been a bumpy year for the financial markets which means that some of your investments may have underperformed or lost value. Can you use these losses to your advantage?Its possible. If you have some investments that have lost value, you could sell them to offset taxable capital gains from other investments. If your losses exceed gains for the year, you could use the remaining losses to offset up to $3,000 of ordinary income. And any amount over $3,000 can be carried forward to offset gains in future years. This tax-loss harvesting can be advantageous if you plan to sell investments that youve held in taxable accounts for years and that have grown significantly in value. And you might receive some gains even if you take no action yourself. For example, when you own mutual funds, the fund manager can decide to sell stocks or other investments within the funds portfolio and then pay you a portion of the proceeds. These payments, known as capital gains distributions, are taxable to you whether you take them as cash or reinvest them back into the fund. Still, despite the possible tax benefits of selling investments whose price has fallen, you need to consider carefully whether such a move is in your best interest. If an investment has a clear place in your holdings, and it offers good business fundamentals and favorable prospects, you might not want to sell it just because its value has dropped. On the other hand, if the investments youre thinking of selling are quite similar to others you own, it might make sense to sell, take the tax loss and then use the proceeds of the sale to purchase new investments that can help fill any gaps in your portfolio. If you do sell an investment and reinvest the funds, youll want to be sure your new investment is different in nature from the one you sold. Otherwise, you could risk triggering the wash sale rule, which states that if you sell an investment at a loss and buy the same or a substantially identical investment within 30 days before or after the sale, the loss is generally disallowed for income tax purposes.Heres one more point to keep in mind about tax-loss harvesting: Youll need to take into account just how long youve held the investments youre considering selling. Thats because long-term losses are first applied against long-term gains, while short-term losses are first applied against short-term gains. (Long-term is defined as more than a year; short-term is one year or less.) If you have excess losses in one category, you can then apply them to gains of either type. Long-term capital gains are taxed at 0%, 15% or 20%, depending on your income, while short-term gains are taxed at your ordinary income tax rate. So, from a tax perspective, taking short-term losses could provide greater benefits if your tax rate is higher than the highest capital gains rate.Youll want to contact your tax advisor to determine whether tax-loss harvesting is appropriate for your situation  and youll need to do it soon because the deadline is Dec. 31. But whether you pursue this technique this year or not, you may want to keep it in mind for the future because youll always have investment tax issues to consider.   Chad Choate III, AAMS828 3rd Avenue WestBradenton, FL  34205941-462-2445chad.chaote@edwardjones.com  This article was written by Edward Jones for use by your local Edward Jones Financial Advisor.Edward Jones, Member SIPC

In an age where technology is rapidly shaping our daily lives, its important to recognize that the benefits of digital innovation are not limited to a specific generation. Seniors are often overlooked in the fast-paced world of app development and technology. However, seniors are starting to discover the advantages of convenience apps designed to enhance their lives.These applications have the power to simplify tasks, increase access to essential services, and improve seniors independence. In this article, we will explore a range of convenience apps tailored to the unique needs and preferences of seniors, shedding light on the digital tools that are helping them lead more comfortable, connected, and fulfilling lives.Best Multifunctional Apps for Seniors A number of multifunctional apps have emerged as helpful tools for seniors. These tools offer a wide array of benefits that can enhance seniors daily lives. They also empower seniors to maintain their independence, especially if they are aging in place. Below are some of these useful multifunctional apps for seniors.GoGoGrandparentPhoto credit: GoGo GrandparentGoGoGrandparent is an over-the-phone service that helps seniors access apps for transportation, groceries, meals, medication delivery, household chores, and more. This service screens and monitors services from Uber, Instacart, DoorDash, and other companies to ensure the senior gets their needs met. With this tool, seniors can schedule rides, get groceries and meals delivered, hire someone to do household tasks, and have their prescriptions delivered straight to their home. For a senior who has difficulty driving or moving around, these services can be invaluable. By calling the phone number no smartphone required the senior can select the service they are looking for, and GoGoGrandparent will coordinate the request. An operator is available at all times to help the senior if they need it.There are different GoGoGrandparent membership packages available depending on how often the senior wishes to use the service. The most basic plan best for occasional usage is $10.39 a month. There are also three other plans available with increasing levels of services.Life360Photo credit: Life 360Life360 is the #1 family locator app and safety membership. In fact, 1 in 9 families use Life360 in the U.S. This app allows families to track one anothers locations along with location histories, arrival alerts, and emergency dispatch. It also provides driving safety services with crash detection and roadside assistance. This type of service is helpful for all families to have peace of mind about everyones safety. It is especially beneficial for seniors whose families may worry about their whereabouts, safety, and location. Google HomePhoto credit: Google HomeThe Google Home system and its accompanying app have proven to be immensely helpful tools for seniors by making everyday tasks more accessible and convenient. Through voice commands, seniors can effortlessly set reminders for medication, appointments, or important events, and access a wealth of information, from weather updates to news headlines. The app, which can be installed on smartphones or tablets, provides an intuitive interface for managing various aspects of their Google Home devices. Whether its adjusting thermostat settings, playing music, or making hands-free phone calls, Google Home offers seniors an accessible and user-friendly way to stay connected and manage their environment. This ultimately contributes to a greater sense of independence and comfort in their daily lives.Amazon AlexaPhoto credit: Amazon AlexaThe Amazon Alexa and the accompanying app are a virtual assistant technology that simplifies seniors daily routines and enhances their quality of life. With voice-activated commands, seniors can effortlessly control smart devices, set reminders, and access a plethora of information. From playing music to providing health tips, the Amazon Alexa helps seniors maintain their independence while enjoying the convenience of a voice-activated digital assistant.Ride Hailing Apps for SeniorsRide-hailing apps have emerged as lifelines for seniors who no longer drive or do not have easy access to transportation. These apps offer a user-friendly and convenient way to secure reliable rides to medical appointments, social gatherings, or everyday errands. For seniors, this newfound mobility can significantly enhance their quality of life. Having a mode of transportation helps seniors access the essential services they need, and allows them to stay connected to friends and family. Socializing is key for seniors mental and physical well-being, and having access to transportation helps make that possible. Below are some apps seniors can use to find reliable transportation.Uber and Uber AssistPhoto credit: Phone ArenaUber is one of the most well-known ride sharing apps. It can be found in every state in the US along with 10,000 cities in 72 countries around the world. In 2021, Uber reported having approximately 100,000 drivers in the state of Florida. Seniors can enter their desired destination, and an Uber driver will come pick them up and bring them where they want to go.One tool for seniors who need more help is Uber Assist. This rideshare program provides special assistance for people who might need extra assistance, including those who are older, less mobile, or have disabilities. Drivers for Uber Assist have been specially trained on helping these riders into vehicles and loading and unloading assistive devices. Seniors can access Uber Assist in the regular Uber app, as long as the service is available in the area. After entering the desired destination, simply select Assist at the bottom of the screen. This service is also available for caregivers and family members who request a ride for a senior. And, you can even schedule an Uber Assist ride in advance on the app. Uber Assist is currently available in 40 cities.    Lyft and LivelyPhoto credit: LyftLyft is another major ridesharing app. Lyft works the same as Uber people can input their desired destinations, and a car will pick them up and bring them where they wish to go. Lyft is available in all 50 states as well as 72 countries. They also offer discounted rides for low-income families and seniors to access healthy food through their Lyft Up program. Lyft has partnered with Lively to create a service just for seniors who have Jitterbug phones. Seniors can simply dial 0 on their Jitterbug phone to be connected with an operator who will schedule a ride for them. This service is available anywhere Lyft operates.Grocery and Meal Delivery Apps for SeniorsGrocery and meal delivery apps can be life changing for seniors, ensuring they have access to fresh food and prepared meals without the challenges of in-person shopping or cooking. These apps allow seniors to conveniently browse, select, and order groceries or meals from the comfort of their own homes. With doorstep delivery, seniors no longer need to worry about transportation or navigating busy stores, which can be particularly taxing for some. In fact, seniors are using food delivery services at record-breaking rates. A recent study found that in 2020, 1 in 4 seniors ordered groceries or food delivery.This technology not only simplifies seniors daily routines but also contributes to their overall well-being, offering a lifeline for those who may have limited mobility or want to avoid crowded public spaces. Food delivery tools are another way seniors can maintain their independence and quality of life. Below are some of the most prominent.InstacartPhoto credit: InstacartInstacart is a grocery delivery service that allows you to shop from your favorite grocery stores with your computer or mobile device. Simply add items to your cart and schedule your preferred delivery time, which can be as fast an hour, or even several days in advance. Then, a shopper will gather your items and deliver them straight to your door.Instacart even has a special Senior Support Service for customers over age 60. With this service, Instacart specialists help customers who may need additional assistance to set up their accounts and place grocery orders. The Senior Support Line is available in the U.S. and Canada at 18449813433, daily from 8 a.m.-11 p.m. ET. Amazon Prime and Whole Foods deliveryPhoto credit: Food Business NewsWith over 200 million members, Amazon Prime has become an exceedingly popular service. Amazon Prime is a great tool for seniors to get household items delivered straight to their home. They can even schedule the items for repeat delivery so they never need to worry about reordering items. One useful feature that comes with Amazon Prime is Whole Foods delivery. For $9.95, Amazon Prime members in select regions can order Whole Foods groceries via Amazon.com or the Amazon app, and schedule them for same-day or next-day delivery to their home. Customers can also order Whole Foods groceries for curbside pickup at no additional cost. Grocery pickup is available at 500 Whole Foods stores in the US.UberEatsPhoto credit: UberEatsFor seniors who are already familiar with the Uber app, UberEats can be a great way to have meals delivered from their favorite restaurants. The companys food-delivery platform is similar to its rideshare platform, which can be helpful to streamline the experience for seniors. DoorDashPhoto credit: AllrecipesDoorDash is widely considered the most popular food delivery service in the US. Available in about 7,000 cities, DoorDash delivers food from more than 300,000 restaurants. It also saves your previous orders to make it easy for seniors to reorder from their favorite spots.GrubhubPhoto credit: GrubhubGrubhub delivers to about 8,000 cities in the US. In Florida, Grubhub delivers groceries and household items from about 260 restaurants and stores. The platform works the same way as UberEats or DoorDash, but some believe GrubHub has a wider selection of restaurants to choose from. Health Apps for SeniorsApps related to health and wellness are another beneficial technology for senior citizens. By enhancing health awareness and accessibility to care, health apps are valuable assets that enable seniors to maintain their health as they age. Below are some popular apps for senior health.MediSafePhoto credit: BridgingAppsMediSafe is the #1 rated pill reminder app by pharmacists and physicians. The app keeps track of your medications, reminds you when to take them, and tracks when you have or have not taken them. It also provides drug interaction warnings if they occur. And, it can alert seniors caregivers of missed doses.Medication management can be a challenge for some seniors, especially those who are experiencing memory difficulties. An app like MediSafe helps seniors keep track of their pills and prevent the dangers that can come with mismanaging medication.GoodRXPhoto credit: Medcity NewsThe GoodRX app and website provide coupons that can save customers up to 80% on their prescriptions. This service also allows customers to compare prices of prescriptions across 70,000 U.S. pharmacies. In Florida alone, there are over 1,300 pharmacies that accept GoodRx coupons and discounts. Overall, this service is a helpful resource for seniors to save money on necessary medications, which can quickly get expensive.ConclusionWhether seniors are aging at home or in a Florida assisted living community, convenience apps have proven to be invaluable tools for improving independence and quality of life. By making everyday tasks more accessible and efficient, these apps empower seniors to lead more full, connected lives, while also providing peace of mind to their loved ones. As technology continues to advance, the positive impact of convenience apps for seniors will continue to increase, creating a more inclusive and supportive digital landscape for our senior community.Need more senior guidance?Navigating the challenges that come with aging can be difficult. If you or a loved one could use no-cost guidance on finding the best senior living and care, give Florida Senior Consulting a call at (800) 969-7176.We help seniors find their perfect senior living communities, and we help with every step of the process along the way! Touring, packing, moving, unpacking, settling in we help with it ALL!Visit FloridaSeniorConsulting.com to learn more.