If youre a parent, you want to do everything you can to help your children succeed in life. Therefore, you might think that one of the best things you can do is to save for your childrens college education. And this is certainly admirable, but could it conflict with your ability to prepare for another key goal your own retirement?Of course, this would not be a problem if you had unlimited means, but most of us dont fall into that category. So, given the financial resources and income you do have, how should you approach the college-versus-retirement issue?Fortunately, its not necessarily an either-or scenario. However, it may make sense to prioritize saving for retirement over college, for two reasons.First, your children have a lot more time to pay for college than you have to save for retirement. In addition to any grants or scholarships your children may receive, they might need to take out loans. While its a good idea to keep this debt load as manageable as possible, its also true that most student loans can be repaid over a long period of time.And heres the second point: One of the best gifts you can give your children is to be self-sufficient in your retirement. You could easily spend two, or even three, decades as a retiree, so you will need to build considerable financial resources to pay for all those years. Your adult children will have their own financial needs to address, so youll be doing them a great favor by relieving them of any financial responsibilities on your behalf. Taking these factors into account, you may want to direct most of your saving and investing efforts toward achieving a comfortable retirement. Consequently, think about putting away as much as you can afford into your IRA and 401(k) or other employer-sponsored retirement plan. Even with this focus on retirement, though, you may find opportunities to save and invest for your childrens education. For example, if you receive bonuses or income tax refunds, or your salary goes up, or youre able to free up money from your budget by reducing your debts, you could use these funds to invest in an education savings vehicle, such as a 529 plan. When you invest in a 529 plan, your earnings and withdrawals are federally tax free, provided the money is used for qualified education expenses such as tuition, room and board, books, and computers. Depending on where you live, you may also get some state tax benefits from your 529 plan. And a 529 plan isnt just for college it can be used for K-12 private school tuition costs, plus expenses from qualified apprenticeship programs, such as those found at trade schools eligible for Title IV federal student aid.It might not be easy to save and invest consistently for your retirement and your childrens education. But both goals are worthy after all, retirement can last a long time and college is expensive. So, try to develop a financial strategy that can allow you to make progress in both areas your efforts may well be rewarded. 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.
Regular physical activity isn't just about staying fit; it's also about managing chronic illnesses and maintaining independence. We want to help seniors incorporate exercise into their daily routines for a healthier life. Remember to always check with your doctor before starting any new forms of exercise. The Benefits of Exercise for Chronic Illness ManagementExercise offers various benefits, especially for those living with chronic conditions. Regular physical activity can improve seniors' heart health, lowering blood pressure and improving circulation and reducing the risk of heart disease. Staying active can also increase mobility and flexibility, making daily activities easier and reducing the risk of injuries and falls.Regular exercise releases endorphins, which are natural mood lifters. This can help combat depression and anxiety, offering a sense of accomplishment and boosting overall well-being. Perhaps most importantly, engaging in physical activities can help seniors maintain their independence. The ability to perform daily tasks without assistance enhances their quality of life significantly.Tips for Incorporating Physical Activity into Daily RoutinesIncorporating exercise into a daily routine doesn't have to be hard. Start slow and build up gradually, beginning with light exercises and gradually increasing the intensity. This helps the body adjust and prevents burnout. Set small, achievable goals to stay motivated. Whether it's a short walk or a set of stretches, each step counts towards better health.Choose activities that are fun. Dancing, gardening, or playing with grandchildren can be excellent ways to stay active without it feeling like a chore. Consistency is key, so use reminders, calendars, or alarms to establish a routine and make exercise a regular part of the day.Selecting Appropriate Exercises Based on Individual Needs and AbilitiesChoosing the right exercises depends on individual needs and any existing health conditions. Here are some options to consider:Low-Impact Exercises for Joint Health: Walking, swimming, or cycling are gentle on the joints while still providing significant health benefits. These activities are perfect for those with arthritis or joint pain.Strength Training for Muscle Maintenance: Simple strength training exercises, such as lifting light weights or using resistance bands, can help preserve muscle mass and strength.Balance Exercises to Prevent Falls: Activities like standing on one foot or practicing Tai Chi improve stability and prevent falls, reducing the risk of injuries.Flexibility Exercises for Improved Range of Motion: Stretching exercises like yoga or simple daily stretches can enhance the range of motion, making everyday tasks easier.Need Caregiving Services for Seniors With Chronic Conditions?Exercise can help manage chronic conditions and improve the quality of life for seniors. It's never too late to start, but you should consult healthcare providers before beginning any new exercise regimen. At Senior Helpers Greeley, we are dedicated to helping seniors in Fort Collins, Loveland, Greeley, Wellington, and Longmont incorporate exercise into their chronic care plans. Contact us today for personalized support to ensure a healthier, more active lifestyle for your loved ones.
With the presidential election just a few weeks away, the public is naturally interested in not just the outcome but what the results will mean for issues of national importance. As a citizen, you likely share these concerns but how about as an investor? After the votes are counted or even before should you make some moves in anticipation of possible changes in policy? Lets look at the big picture first, through the lens of history. The financial markets have performed well and at times, not so well under Democratic and Republican presidents alike. And the same is true about which party controlled Congress.While it might be an overstatement to say that decisions made in Washington have no effect on the markets, its not always so easy to draw a direct line between what happens there and how the markets perform. For one thing, political candidates often make promises that are not fulfilled, or, if they are, have different results than intended. Also, other institutions can have a significant impact on the markets. For example, the Federal Reserve, which controls short-term interest rates, can certainly affect many market sectors. And there will always be external events, such as foreign conflicts and even natural disasters, that can make short-term impacts on the investment world.So, rather than making changes to your portfolio in anticipation of what might happen if certain candidates get elected, or even in response to actual policy changes, look to other factors to drive your investment decisions. These factors should include the following: Your goals You probably have short- and long-term goals youd like to achieve. For your short-term goals, such as a wedding, a down payment on a house or a long vacation, you may want to invest in instruments that provide stability of principal. For your long-term goals, most important of which may be a comfortable retirement, you'll need to own a reasonable number of growth-oriented investments. Your risk tolerance When you build and maintain your investment portfolio, you'll need to accommodate your individual risk tolerance. All investments carry some type of risk, but you need to be comfortable with the overall risk level of your investments. Your time horizon Where you are in life is an important consideration when investing. When you are young and just starting out in your career, you may be able to focus more on growth, as you have time to overcome the inevitable short-term market downturns. But as you near retirement, you may want to consolidate any gains you may have achieved, and lower your risk level, by moving your portfolio toward a somewhat more conservative approach. Even in retirement, though, you will need some growth potential to stay ahead of inflation. Your needs for liquidity As you invest, youll need to maintain an adequate amount of cash and cash equivalents in your holdings. Without this liquidity, you might be forced to sell long-term investments in case you have unexpected expenses. In any case, when it comes to investing, you may want to pay less attention to what names are on the ballot and instead vote for the longer-term strategies that reflect your needs and goals. Chad Choate III, AAMS828 3rd Avenue WestBradenton, FL 34205941-462-2445chad.chaote@edwardjones.com