Serving Proudly As The Voice Of Valley County Since 1913
Serving Proudly As The Voice Of Valley County Since 1913
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Mary Honrud / For the Courier What a difference a week or so makes, huh? We've gone from bitter cold with frigid winds, to ice fog and freezing rain, to balmy spring temps in a short amount of time. And don't we enjoy northeastern Montana through all of it? But we've had enough with the icy fogs and freezing rains, don't you agree? Mother Nature could get her act together at any time. There was enough weight on the trees after that rain last Saturday night and most of the day Sunday that I know...
As we begin the new year, you may be receiving various tax statements from your financial services provider — so it’s a good time to consider how your investments are taxed. This type of knowledge is useful when you’re doing your taxes, and, perhaps just as important, knowing the type of taxes you generate can help you evaluate your overall investment strategy. To understand the tax issues associated with investing, it’s important to understand that investments typically generate either capital gains or ordinary income. This distinction is mean...
Either being out in the cold (be it outdoors or inside the ice rinks) OR being in crowds of people didn't agree with me. In any case, I started feeling punk on the second day of our drive home from Minneapolis. We'd split the trip into two days, both going and coming. We stayed overnight in Fargo both ways. I'm still really glad we went, it was a great weekend of hockey. Our grandson's team ended up with bronze medals. And he and our daughter survived a cold afternoon of outdoor sledding at...
When you plan to retire at a certain age, you can follow a strategy that incorporates your investment moves, your health insurance and other factors. But what happens if you’re forced to retire earlier than you anticipated? Unfortunately, this situation is not that uncommon. About 40 percent of Americans say they have been forced into retirement, according to a recent survey from Edward Jones and Morning Consult, a research firm. If this were to happen to you because of a layoff, company downsizing or a health issue, would you be prepared to ma...
I think those words are in a song…Willie is a genius. This week, instead of heading to sunny Florida, we’re going to cold, snowy, blowy Minnesota. The youngest grandson, 11, has a hockey tournament in Minneapolis this long weekend. The Florida teams always seem to have tourneys scheduled in far locales every time there’s an extra day off school. (It’s not just Florida, of course.) These tourneys require the kids missing school on both sides of the long weekend as they have to travel to and from said locales. This particular tourney has 10 team...
Now that we’ve reached 2024, you might be thinking about your goals and hopes for the new year. But in addition to whatever personal resolutions you might make — volunteering, going to the gym more, learning a new language and others —why not make some financial resolutions, too? Here are a few to consider: • Boost your retirement savings. If you can afford it, try to increase your contributions to your IRA and 401(k) or similar employer-sponsored retirement plan. The more you put away in these accounts, the greater your chances of reachin...
Who knows where the time goes? We’ve reached the end of another year, so it’s appropriate to reflect on the nature of time and how it affects us. And time certainly is a key element in the pursuit of your financial goals. As an investor, time can be your greatest ally. If you hold some investments for the long term, you could achieve an impressive cumulative growth in value. Furthermore, if you keep adding shares to these investments, possibly through a dividend reinvestment plan, you could attain “growth on growth” through the power of comp...
We made it safely home from Florida, but we aren't staying here long. Our youngest grandson (11) has a hockey tournament in the Minneapolis area this weekend. The team is taking advantage of the long MLK weekend, as are lots of other youth hockey teams. I believe there are 10 teams at just the 12UAA level in this one. And of course it will be such nice weather for a jaunt across North Dakota into Minnesota - NOT! Those poor deluded Florida boys think it will be "fun" to experience snow and...
If you want to make a big purchase, such as a new car or a piece of property, or you were faced with a large, unexpected expense, such as a major home or auto repair, would you have the funds readily available? If not, you might look at what may be your biggest pool of money — your 401(k) or IRA. But should you tap into these accounts well before you retire? Maybe not — and here’s why: Less money in retirement – The more money you invest in your retirement accounts, and the longer you keep it invested, the more you’ll probably have when you...
Our sojourn in Florida continues, as does the hockey watching. And it’s not just the grandsons we’re watching. Tonight (I’m writing this on Wednesday, Dec. 27 - early deadline due to the holiday) we are heading into Tampa proper to watch the two Florida NHL teams compete against each other. I’m speaking of the Tampa Bay Lightning versus the Sunrise City Florida Panthers. Sunrise City is near Fort Lauderdale and Miami. We expect to see some fine hockey played. (And even as I write this, we’re watching the televised World Juniors Hockey Ch...
We have been able to watch two of the three grandsons here in Florida play hockey. The third is in college and a bit further away. The middle boy competed in two games last Saturday, and both were won fairly easily. Our boy scored three assists on the four goals his team put up, two of which occurred on the same line shift, in the first game of the day. While he didn’t score in the second game, he still made some key puck thefts and made smart passes. His team had seven goals to the two the opponents managed. Last Monday evening we watched t...
We’re again in Florida to spend the holidays with our grandsons. Seeing our daughter and her husband as well is a nice bonus. Avoiding the Montana winter is also very much appreciated, although so far the Montana winter hasn’t been bad. However, Florida is currently cooler than we’re used to, with grey skies and winds reminiscent of home. They received a paltry 2.65” of rain yesterday. Recently, in one of my columns, I mentioned how two of our three daughters have vastly outdone me in plant acquisitions. I believe this Florida girl of ours ha...
If your children are grown and your mortgage is paid off, do you still need to carry life insurance? It depends on your situation, but for many people, a cash-value life insurance policy, such as whole life or universal life, can be a valuable, tax-efficient source of retirement income. And by drawing on the cash value of your policy, you might be able to temporarily reduce the amount you take out from your retirement accounts, such as your IRA and 401(k). This ability could be especially important when the financial markets are down — y...
I’ve just noticed that two of my bakers’ dozen amaryllis bulbs are sending up flower stalks. Of course they are: we’re getting ready to leave on our annual Christmas trip to Florida. We do love spending the holidays with our grandsons. The beautiful non-wintery weather (and seeing our daughter and her husband) are benefits we also enjoy. Back to the amaryllis: the bulbs sold each winter because of their willingness to bloom indoors are actually cultivars of Hippeastrum, a genus with about 90 species. There are also tons of hybrids. These are n... Full story
Once again, it’s the season of generosity. In addition to considering gifts for your loved ones, you might want to think about charitable gifts as well. But what should you know before making gifts to charities? And what impact might these gifts have on your financial and tax situation? First, you may want to create a gift budget by deciding just how much you will give to charitable organizations over the rest of the year. Next, look closely at the groups to whom you wish to contribute. You can find many reputable charities, but some others m...
How long has it been since you purchased Mayonnaise in a glass jar? Since it has been canning season, I had reason to be checking my jar inventory. I always saved these unmarked jars to use to share cream, pickles, etc . rather than have to purchase more canning jars. I only remember Ball and Kerr, although there may have been other brands marketed. Of course, I did have a small supply of blue glass jars that had been passed on to me from family, but they were definitely not passed on. Of course now days, blue glass jars get used for...
As you know, the gig economy has been booming over the past several years. If you’re thinking of using your skills to take on a side gig, what should you do with the money you’ll make? There’s 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...
As I'd predicted, I have not resorted to making daily notes of my accomplishments this past week. I do know myself a little. So, as usual, I'm winging it with this column. It is Sunday afternoon, after all. I have managed to repot a few plants since I last wrote. The flamingo plant (anthurium andraeanum), which is very similar to the peace lily, but with red rather than white spathes, as the "flowers" are known. The spathes are red, waxy, and heart-shaped, with yellow upright spadices. They...
As you go through life, you’ll have various financial goals — and to achieve them, you’ll need to invest. But just recognizing the need to invest is not as useful as matching specific types of accounts or investments with specific goals. How can you make these connections? Let’s look at some common goals and how they could possibly be met with appropriate accounts and investments: • Saving for a down payment on a house – When you’re saving for a down payment, you want a certain amount of money available at a certain time — so, for this goal,...
For the second week in a row, I was asked what I'd be writing about in my next column. And for the second week in a row my answer was, "I don't know." This speaks to my mastery of the art of procrastination. I should start jotting daily notes: "What did I do today? Is it something that might remotely relate to gardening?" But I probably won't do that, either. I'll stick with my bad habits. I'll suddenly realize it's Sunday afternoon/evening, and the column still hasn't been written, and I'll...
You may spend decades contributing to various retirement accounts. But for some accounts, such as a traditional IRA and 401(k), you must start withdrawing funds at a certain point. What should you know about this requirement? To begin with, the rules governing these withdrawals — technically called required minimum distributions, or RMDs — have changed recently. For many years, individuals had to begin taking their RMDs (which are based on the account balance and the IRS’ life expectancy factor) when they turned 70½. The original SECURE Act of...
I’m enjoying the indoor greenery, but I’m not talking about bringing a tree into the house. I know many people are putting up their Christmas trees at this time, or have already done so. I’m not one of those. Since we’ve been spending the holiday season with our daughter and family in Florida, my artificial tree hasn’t been out of storage for years. My shooting star Hoya has been trying to bloom for the past six weeks, but kept dropping the buds before they opened. I decided the cause was lack of proper drainage. I purchased clay beads (re...
It’s definitely not gardening weather. I don’t even want to mess with my houseplants, really. Oh, I’ll water them, but there’s no repotting going to happen anytime soon. I just don’t want to deal with the mess potting soil and water makes. The indoor greenery is really loved, though, and I am able to harvest fresh basil, parsley, and rosemary. The catmint and two small dill weeds I’d added to the window box with the other herbs elected not to live. When I brush up against the surviving herbs, the scent they release is heavenly. And that makes...
We all make mistakes in many areas of life. These mistakes are usually fairly harmless — we took a wrong turn while driving, used the wrong ingredients in a recipe and so on. But sometimes, our mistakes can be costly — especially those connected to investing. Here are some of the most common investment mistakes: • Too much buying and selling – Some people find it exciting to constantly buy and sell investments in the pursuit of big gains. Yet, frequent trading can work against you in a couple of ways. First, it can be expensive — if you’re al...
If you’ve invested in an IRA for many decades, it may well turn into a key source of income for your retirement. Still, you might not deplete your IRA in your lifetime, especially if you also have a pension or a 401(k) and other investment income. So, if your IRA still has sizable assets after your passing, it would likely end up in your estate plan. If you leave your IRA to grown children or other family members, could they be hit with a big tax bill? Here’s a little background: Up until the Secure Act of 2019, those who inherited tra...
