For more information about the author, click to view their website: Edward Jones
As we enter the holiday season, your life may well
become busier. Still, you might want to take the time to consider some
financial moves before we turn the calendar to 2025.
Here
are a few suggestions:
• Review your investment portfolio. As
you look at your portfolio, ask these questions: Has its performance met my
expectations this year? Does it still reflect my goals, risk tolerance and time
horizon? Do I need to rebalance? You might find that working with a
financial professional can help you answer these and other questions you may
have about your investments.
• Add
to your 401(k) and HSA. If you can afford it, and your employer allows it,
consider putting more money into your 401(k) before the year ends — including
“catch-up” contributions if you’re 50 or older. You might also want to add to
your health savings account (HSA) by the tax-filing deadline in April.
• Use your FSA dollars. Unlike an HSA, a
flexible spending account (FSA) works on a “use-it-or-lose-it” basis, meaning
you lose any unspent funds at the end of the year. So, if you still have funds
left in your account, try to use them up in 2024. (Employers may grant a 2½
month extension, so check with your human resources area to see if this is the
case where you work.)
• Contribute
to a 529 plan. If you haven’t opened a 529 education savings plan for your
children, think about doing so this year. With a 529 plan, your
earnings can grow tax deferred, and your withdrawals are federally tax free
when used for qualified education expenses — tuition, fees, books and so on. And if you invest in your own
state’s 529 plan, you might be able to deduct your contributions from your
state income tax or receive a state tax credit.
• Build your
emergency fund. It’s generally a good idea to keep up to six months’ worth
of living expenses in an emergency fund, with the money held in a liquid,
low-risk account. Without such a fund in place, you might be forced to dip into
your retirement funds to pay for short-term needs, such as a major car or home
repair.
• Review your
estate plans. If you’ve experienced any changes in your family situation
this year, such as marriage, remarriage or the birth of a child, you may want
to update your estate-planning documents to reflect your new situation. It’s
also important to look at the beneficiary designations on your investment
accounts, retirement plans, IRAs and insurance policies, as these designations
can sometimes even supersede the instructions you’ve left in your will. And if you
haven’t started estate planning, there’s no time like the present.
• Take your
RMDs. If you’re 73 or older, you will likely need to take withdrawals — called required minimum
distributions, or RMDs — from some of your retirement accounts, such as your traditional
IRA. If you don’t take these withdrawals each year, you could be subject to
penalties.
These aren’t the only moves you can make, but they may prove helpful not only for 2024 but in the years to come.
Chad Choate III, AAMS
828 3rd Avenue West
Bradenton, FL 34205
941-462-2445
chad.chaote@edwardjones.com
This article was written by Edward
Jones for use by your local Edward Jones Financial Advisor.
In a world that is constantly evolving, the holiday season serves as a powerful reminder of the significance of human connection. For seniors, these connections offer profound emotional and psychological benefits. This discussion explores the joy of maintaining relationships, the challenges faced by older adults, and strategies to ensure their holidays are filled with a sense of belonging, remembrance, and shared experiences.The Importance of Connection for SeniorsEmotional and Psychological BenefitsHuman connection is essential throughout life, and its importance grows as individuals age. Seniors experience numerous benefits from social interaction, including improved mental health, better cognitive functioning, and a heightened sense of purpose. Meaningful relationships create a support network that can help alleviate feelings of isolation and depression, promoting overall well-being. Engaging with family and friends fosters a sense of belonging and self-worth, while participation in conversations and activities can enhance emotional stability and reduce the risk of cognitive decline.Loneliness During the HolidaysWhile the holiday season is often associated with joy and togetherness, it can also amplify feelings of loneliness for seniors. Many may face the loss of loved ones or find themselves separated from family due to distance. Such circumstances can heighten emotions of isolation, especially during a time when connection is most valued. The holidays can serve as poignant reminders of lost connections, intensifying nostalgia and grief.Challenges in Staying ConnectedSeveral obstacles can hinder seniors from maintaining connections during the holidays. Geographic distance can prevent reunions with family and friends, while health issues may limit mobility and travel options. Additionally, technological barriers can complicate digital communication, leaving some seniors feeling disconnected in an increasingly digital world.Emotional FactorsGrief and depression can significantly impact seniors desire to connect. The holiday season may magnify feelings of loss, making it difficult for individuals to engage in celebratory activities. Recognizing these emotional challenges is crucial for facilitating meaningful connections.The Role of CaregiversCaregivers play an essential role in supporting seniors during this time. By understanding the emotional hurdles that may arise, they can offer companionship and empathy. Caregivers can also assist with practical needs such as technology use, transportation arrangements, or organizing inclusive celebrations that accommodate health considerations.Practical Ways to ConnectIn-Person ConnectionsHoliday Visits: In-person gatherings bring warmth and meaning to seniors' lives.Shared Meals: Enjoying favorite holiday dishes together fosters conversation and bonding.Participatory Activities: Engaging in festive tasks like decorating or baking creates joy and involvement.Remote ConnectionsVideo Calls: These allow seniors to see loved ones faces, enhancing feelings of connection despite distance.Letter Writing: A heartfelt letter or card can convey emotions that transcend technology.Online Games: Simple games or trivia challenges provide fun interaction opportunities from afar.Adapting Holiday TraditionsTo include seniors in holiday traditions:Involve Them: Encourage their input in planning to shape traditions that suit their preferences.Modify Activities: Adapt events to accommodate mobility and energy levels.Storytelling: Invite seniors to share stories from their past to enrich the holiday experience.Technology as a BridgeUser-friendly technology options like smartphones and tablets can facilitate communication for seniors. Simplified apps designed for ease of use can enhance their ability to stay connected with loved ones. Teaching them how to use these technologies through patient instruction and hands-on demonstrations can help build their confidence.Navigating Emotional ChallengesSeniors may face various emotional difficulties during the holidays:Grief: The absence of loved ones can be particularly poignant during this time.Depression: Feelings of sadness may intensify due to health struggles or social isolation.Isolation: Distance from family combined with limited mobility can exacerbate loneliness.Supporting Emotional HealthEncouraging open communication allows seniors to express their feelings. Setting flexible expectations for participation in holiday activities helps reduce pressure. Engaging them in joyful activities enhances their experience during this festive season.Professional ResourcesIf needed, professional support such as therapy or counseling specializing in geriatric care can provide seniors with tools to navigate their emotions. Support groups offer community understanding for those dealing with grief or depression. Helplines are also available for immediate emotional support.As we navigate this holiday season together, let us remember that nurturing connections enriches the lives of seniors. Emphasizing compassion and care across generations reinforces our shared spirit of togetherness during this special time.
Moving can be a stressful experience for anyone, but when the move involves a senior loved one, the process often requires additional care and consideration. Whether the move is to a smaller home, a senior living community, or to be closer to family, making the transition as smooth and stress-free as possible is key to ensuring comfort and emotional well-being for your aging loved one. By taking into account their physical, emotional, and practical needs, you can help them adjust to their new surroundings with ease. In this article, well discuss important tips for moving seniors, focusing on downsizing, packing for comfort, and ensuring a smooth transition with the help of a trusted moving company like Blue Star Moving.1. Start Early and Create a Moving PlanOne of the most important steps in moving seniors is planning ahead. The more time you allow for preparation, the less stressful the experience will be for everyone involved. Seniors, especially those who are used to living in the same home for many years, may find the process of moving overwhelming. Starting early gives you the time needed to carefully consider each aspect of the move, including emotional, physical, and logistical factors.Tips for creating a moving plan:Set a timeline: Plan key milestones and deadlines leading up to the move, such as downsizing, packing, and confirming the moving date.Involve your loved one: Keep your senior family member involved in the process, allowing them to make decisions about what to keep, donate, or discard. This helps them feel more in control of the situation.Use checklists: Create checklists to track important tasks such as medical records, utilities, or hiring a moving company.An organized and well-thought-out plan will make the entire process smoother and less anxiety-inducing.2. Downsize and SimplifyDownsizing can be one of the most challenging aspects of moving for seniors, particularly if theyve lived in the same home for a long time. They may have accumulated years of possessions, and parting with beloved items can be emotional. However, downsizing is often necessary, especially when transitioning to a smaller home or senior living community.Steps to downsize efficiently:Sort through belongings: Go through each room and categorize items into keep, donate, and discard piles. Involve your loved one in the process, but also be prepared to make tough decisions about items that no longer serve a practical purpose.Focus on essentials: Prioritize what is most important, including items that have sentimental value or are necessary for daily life.Donate or sell unneeded items: Consider donating furniture, clothing, or household goods that your loved one no longer needs. You can also sell items of value, which may help with the moving costs.Downsizing doesnt have to be a painful process. By focusing on what truly matters to your loved one and offering gentle guidance, you can make it easier for them to let go of unnecessary items.3. Pack for Comfort and FamiliarityMoving to a new home can be disorienting, especially for seniors who may have mobility or cognitive concerns. To make the transition as comfortable as possible, its important to pack with a focus on familiar items that will help create a sense of comfort and continuity.Packing tips for seniors:Essential items first: Pack a first-night box that includes essential items such as medications, toiletries, clothes, and important documents. This will ensure that your loved one has everything they need right away without having to sift through boxes.Comfort items: Pack personal items like family photos, favorite books, or beloved blankets to help them feel more at home in their new environment.Label boxes clearly: Label each box with its contents and the room it belongs to, making it easier to unpack and find essential items quickly.Consider accessibility: If your loved one has mobility challenges, pack items in a way that ensures easy access to everything they need. For example, keep frequently used items in an accessible box near the front of the moving truck.By packing in a thoughtful, organized way, you can make your loved ones new home feel more like a familiar, welcoming space.4. Choose the Right Moving Company for SeniorsHiring a professional moving company is a great way to ensure the moving process goes smoothly. For families moving seniors, its especially important to choose a moving company that understands the unique needs of elderly clients. Blue Star Moving is one such company that provides tailored services for senior moves, focusing on both the physical and emotional needs of the family.Why Blue Star Moving is an excellent choice for senior moves:Specialized services: Blue Star Movings experienced team is trained to handle delicate items with care, whether its fragile heirlooms or heavy furniture. They also offer services like packing, unpacking, and setting up your loved ones new home.Efficient moving solutions: Professional movers can streamline the entire process, saving you time and reducing the risk of damage or injury. They will handle all aspects of the move, including the heavy lifting and transportation of belongings.Respect and compassion: Moving can be an emotional process for seniors. Blue Star Moving understands this and provides compassionate, respectful service throughout the move, helping to reduce anxiety and stress for both the senior and their family.Choosing a moving company with experience and understanding of senior relocations can make the process much less stressful for everyone involved.5. Make the New Home Safe and ComfortableOnce you arrive at the new home, its essential to create a safe and comfortable environment for your senior loved one. This includes organizing the space to accommodate their needs and ensuring it is free from potential hazards.Tips for setting up a senior-friendly space:Ensure easy accessibility: Make sure that pathways are clear and furniture is arranged to allow for easy movement, especially if your loved one uses a walker or wheelchair.Set up essential areas first: Focus on key areas like the bedroom, bathroom, and kitchen. Ensure that everything is easily accessible and within reach.Add familiar touches: Place familiar items, such as family photos, favorite chairs, or personal decorations, to make the new home feel like a welcoming space.Taking these extra steps to make the new home feel safe, organized, and familiar will help your loved one adjust more easily and feel more comfortable in their new surroundings.6. Offer Emotional Support Throughout the ProcessMoving is an emotional process for seniors, and its important to provide consistent emotional support before, during, and after the move. Your loved one may feel a sense of loss or anxiety about leaving their old home, so be patient, understanding, and encouraging.Ways to support your loved one emotionally:Listen to their concerns: Allow them to express their feelings about the move, whether its excitement or apprehension. Acknowledge their emotions and reassure them that the change is a positive step forward.Maintain routines: Try to keep familiar routines in place as much as possible, even if it means doing things like keeping meal times or bedtime consistent.Stay involved: Continue to check in with your loved one after the move to ensure they are adjusting well and feeling comfortable.By offering emotional support and reassurance, you can help ease the transition for your senior loved one.ConclusionMoving with seniors requires special attention to detail and a compassionate approach. With proper planning, downsizing, and the right moving services like those offered by Blue Star Moving, you can ensure that your loved ones transition to a new home is as comfortable and efficient as possible. By focusing on their emotional and physical needs, you can make the move a positive experience, helping them adjust to their new home with ease and confidence.
Moving is often cited as one of lifes most stressful experiences, and for seniors, this challenge can be even greater. Whether it's relocating to a senior living community, moving closer to family, or downsizing to a smaller home, the transition involves many emotional, physical, and logistical hurdles. However, with the right approach, senior moving can be a smooth, well-organized process that allows older adults to embrace the next phase of their lives with ease.1. The Emotional Impact of Moving for SeniorsFor many seniors, moving represents more than just a change in locationit can be a significant emotional event. Leaving behind a home filled with memories, especially after living there for many years, can be overwhelming. It's common for seniors to feel anxious, nostalgic, or even resistant to the idea of moving. Acknowledging and addressing these feelings is key to making the transition smoother.Tips to manage emotional stress during the move:Open Communication: Family members, friends, and caregivers should provide emotional support and create a space for open conversations. Let the senior express any concerns or feelings about the move.Focus on the Positive: Highlight the exciting aspects of the new living arrangement, such as the potential for social interaction, new amenities, or being closer to loved ones.Involve the Senior in Decision-Making: Giving the senior a say in decisionssuch as the design of their new space or what items to takecan help reduce feelings of loss or helplessness.2. Downsizing: A Key Step in Senior MovingOne of the most daunting aspects of moving for seniors is deciding what to take and what to leave behind. Over the years, seniors often accumulate a lifetime of belongings, many of which may no longer be practical or necessary. Downsizing can be emotionally challenging but is an essential step in the moving process.Tips for effective downsizing:Start Early: Begin the process of downsizing well in advance of the move. A gradual approach allows time to reflect on each item and decide whether it holds sentimental or practical value.Sort Items by Categories: Break down the task into manageable partssuch as clothing, furniture, and memorabilia. This can make the process less overwhelming.Ask for Help: Family members or professional senior move managers can provide valuable assistance in sorting through items. They can also help decide what to sell, donate, or discard.Embrace Digital: For items like photographs and paperwork, consider digitizing them. This helps preserve memories without taking up space.3. Packing and Organizing the MoveOnce the decision has been made on what to keep, the next step is packing. Seniors may need assistance to safely pack their belongings, particularly fragile or valuable items. Organizing the move is crucial to ensure that the transition is as efficient as possible.Tips for organizing the packing process:Label Everything: Each box should be clearly labeled with its contents and the room it belongs to in the new home. This will simplify the unpacking process and ensure that nothing gets misplaced.Consider Professional Movers: Senior move managers are trained to handle all aspects of moving. They can assist with everything from packing to arranging transportation, making the entire process much easier.Plan for the Essentials: Pack a bag with the essentialsmedications, personal items, clothing, and toiletriesthat will be needed immediately upon arrival at the new home. This can save time and stress during the first few days of the transition.4. Choosing the Right Senior Living CommunityIf the move is to a senior living community, choosing the right place is one of the most important decisions in the process. Many seniors and their families struggle with deciding which type of community best suits their needs, whether its independent living, assisted living, memory care, or a continuing care retirement community (CCRC).Consider these factors when choosing a community:Location: Proximity to family, friends, and essential services is often a top priority.Services and Amenities: Each senior living community offers different levels of care and amenities, such as meals, transportation, activities, and medical assistance. Be sure to find a community that aligns with the seniors needs and preferences.Atmosphere: Visit potential communities and talk to staff and residents. Make sure the environment feels welcoming and comfortable.Costs: Understand the financial structure of the community, including any initial deposits, monthly fees, and additional costs for services. This will help avoid surprises down the road.5. Settling into the New HomeAfter the move is complete, the focus shifts to helping the senior settle into their new environment. This phase can take time, but there are steps that can be taken to ensure the transition is as seamless as possible.Tips for settling in:Unpack Early: Set up the new living space quickly, so the senior feels at home right away. Familiar itemssuch as favorite furniture or family photoscan make the new space feel more personal.Establish Routines: Familiar routines, such as mealtimes, activities, and sleep schedules, help seniors feel more settled and comfortable in their new environment.Encourage Socialization: Whether its in a new senior community or a different home, encouraging seniors to engage with their new neighbors or community members helps reduce feelings of isolation and supports their mental well-being.6. Utilizing Professional HelpFor families and seniors who find the moving process overwhelming, seeking professional assistance can make all the difference. There are specialized companies known as "senior move managers" who are experienced in helping older adults relocate. These professionals can handle every aspect of the move, from sorting and packing to finding suitable housing options and even arranging for the sale or donation of unwanted items.By hiring a senior move manager, families can reduce stress and ensure that their loved ones needs are met during the transition.ConclusionMoving is never an easy task, but with proper planning and the right support, seniors can navigate the process with minimal stress and disruption. Whether downsizing, relocating to a senior community, or simply adjusting to a new living environment, a positive outlook and a bit of help can make all the difference. By taking a thoughtful and organized approach, seniors can embark on the next chapter of their lives with confidence and ease.If you or a loved one is planning a move, working with a senior move manager or professional real estate transition specialist can simplify the process and help ensure a successful, stress-free transition.
Experience and BackgroundI am a financial advisor in Bradenton, FL, and began my career with Edward Jones in 2017. As a financial advisor, I want to find out what's important to you and help you build personalized strategies to achieve your goals.As a lifelong Manatee County resident, I graduated from the University of South Florida and was a teacher in Manatee County before joining Edward Jones. My driving force is to change people's lives in a positive way, and what better place than my home to do that.Whether you're planning for retirement, saving for college for children or grandchildren, or just trying to protect the financial future of the ones you care for the most, we can work together to develop specific strategies to help you achieve your goals. We will also monitor your progress to help make sure you stay on track or determine if any adjustments need to be made. Throughout it all, we're dedicated to providing you with top-notch client service.But we're not alone. Thousands of people and advanced technology support our office so that we can help ensure you receive the most current and comprehensive guidance. In addition, we welcome the opportunity to work with your attorney, accountant and other trusted professionals to deliver a comprehensive strategy that leverages everyone's expertise. Working together, we can help you develop a complete, tailored strategy to help you achieve your financial goals.I currently volunteer with the Manatee Hurricane football Broadcast and Booster Club, serve on my church's trustees council and have previously served as a leader in Young Life. I am a member of the Manatee Chamber of Commerce and an alumnus of their Leadership Manatee program.I have been married to my childhood sweetheart, Ashley, for 15 years and we have a son, Wesley, and daughter, Camryn. We enjoy watching our children play their sports and traveling as a family.
Hello, I'm Chad Choate a dedicated financial advisor in Bradenton, FL, I began my career with Edward Jones in 2017. As a financial advisor, I want to find out what's important to you and help you build personalized strategies to achieve your goals. As a lifelong Manatee County resident, I graduated from the University of South Florida and was a teacher in Manatee County before joining Edward Jones. My driving force is to change people's lives in a positive way, and what better place than my home to do that. Whether you're planning for retirement, saving for college for children or grandchildren or just trying to protect the financial future of the ones you care for the most, we can work together to develop specific strategies to help you achieve your goals. We will also monitor your progress to help make sure you stay on track or determine if any adjustments need to be made. Throughout it all, we're dedicated to providing you with top-notch client service. But we're not alone. Thousands of people and advanced technology support from our office can help ensure you receive the most current and comprehensive guidance. In addition, we welcome the opportunity to work with your attorney, accountant and other trusted professionals to deliver a comprehensive strategy that leverages everyone's expertise. Working together, we can help you develop a complete, tailored strategy to help you achieve your financial goals. I currently volunteer with the Manatee Hurricane football Broadcast and Booster Club, serve on my church's trustees council and have previously served as a leader in Young Life. I am a member of the Manatee Chamber of Commerce and an alumnus of their Leadership Manatee program. I have been married to my childhood sweetheart, Ashley, for 15 years and we have a son, Wesley, and daughter, Camryn. We enjoy watching our children play their sports and traveling as a family.
Hello, I'm Chad Choate a dedicated financial advisor in Bradenton, FL, I began my career with Edward Jones in 2017. As a financial advisor, I want to find out what's important to you and help you build personalized strategies to achieve your goals. As a lifelong Manatee County resident, I graduated from the University of South Florida and was a teacher in Manatee County before joining Edward Jones. My driving force is to change people's lives in a positive way, and what better place than my home to do that. Whether you're planning for retirement, saving for college for children or grandchildren or just trying to protect the financial future of the ones you care for the most, we can work together to develop specific strategies to help you achieve your goals. We will also monitor your progress to help make sure you stay on track or determine if any adjustments need to be made. Throughout it all, we're dedicated to providing you with top-notch client service. But we're not alone. Thousands of people and advanced technology support from our office can help ensure you receive the most current and comprehensive guidance. In addition, we welcome the opportunity to work with your attorney, accountant and other trusted professionals to deliver a comprehensive strategy that leverages everyone's expertise. Working together, we can help you develop a complete, tailored strategy to help you achieve your financial goals. I currently volunteer with the Manatee Hurricane football Broadcast and Booster Club, serve on my church's trustees council and have previously served as a leader in Young Life. I am a member of the Manatee Chamber of Commerce and an alumnus of their Leadership Manatee program. I have been married to my childhood sweetheart, Ashley, for 15 years and we have a son, Wesley, and daughter, Camryn. We enjoy watching our children play their sports and traveling as a family.