April takes its name from the Latin word Aperire, meaning to open. Naturally, my mind goes to the opening bell of the NFL draft at the end of the month, or maybe the opening of the tomb at the beginning of the month, or maybe in a moment of sensitivity (sensitive in a manly way of course), the opening of flowers and such. Lest we forget, there are things that absolutely should not be opened – Pandora’s Box, for example. We certainly don’t need any more evils flying over the Earth now do we. Or maybe that can of worms often sitting on the tip of your tongue. Nope. I’ve opened that can more than a few times, sadly.
While we’re on the subject, here’s a quick list of things that you might consider in this season of opening:
- 529 College Savings Account: A 529 account for your kids and or grandkids – Some offer some pretty nifty state tax deductions and a plethora of investment options. And when you withdraw the money for qualified educational purposes, you don’t pay taxes on the gains. Anyone can contribute to one on behalf of the beneficiary, and there are no age, income or residency limitations for the beneficiary. Beneficiary not going to college? No problem. You can change the beneficiary to another member of the family. For a more comprehensive review of such an account, check out: https://www.collegecounts529.com/
- Two-eth by Checking and Two-eth by Savings: For checking, consider one checking account just for your bills and another just for spending money. For savings, maybe you have one account serving as an emergency fund and another for long-term savings goals. The goal being to make your financial life easier to manage. Of the above, I strongly recommend an emergency fund. (It is what it is, and not everything is an emergency, now is it.)
- Roth IRA Account: Offers tax-free growth and tax-free qualified withdrawals in retirement. Because none of us know what the tax code will look like in the future, Roth accounts offer some diversification in retirement as not all your retirement accounts would be tax deferred. Speak with your financial advisor about your particular situation to see if the Roth IRA is a good option for you.
- Health Savings Account (HSA): Are you covered by a High Deductible Health Plan (HDHP)? If so, you may want to investigate a Health Savings Account. An HSA allows you to make annual pre-tax contributions to pay for qualified medical expenses, and in some cases, it offers significant tax advantages.
- Investment Account: 401(k) opened and contributing to? Check. Roth IRA opened and contributing to? Check. Emergency Fund opened and maintained? Check. Consider a (non-retirement) investment account. This may be in the form of an individual or joint account that you contribute to, and it serves as your “do life out of “account. It’s funded with after-tax money, invested how you please and with no contribution limits. If there was a trinity of financial accounts, it may be the third. 1) The Tax Deferred Account. 2) The Roth Account. 3) The Taxable Account. Speak with your advisor to see how this may fit into your financial plan.
Your particular situation may or may not lend itself to one or more of the above. And for some, the above may just be scratching the surface. Speak with your advisor on how they may fit into your financial plan.
To learn more about CapSouth Wealth Management and the services we offer, visit our website at www.capsouthwm.com or www.capsouthwm.com/what-we-do/
Now, here’s a freebee for April readers. It’s very likely that you’re reading this article prior to Mother’s Day. That means – it’s still not too late! Remember the can of worms reference from above? Avoid one altogether by remembering that Mother’s Day is May 14th . Here’s a little something to get your juices flowing – and don’t say you weren’t warned!
Just How Does
It’s just after Mother’s Day
And all through the house,
The messes are so many
And I feel like a louse.
I had given my best shot
And used all of my might,
To keep the messes un-messed
And the fallen upright.
With dog hair in the hallway,
And my undies on the floor,
Reality sets in…
It’s Mother’s Day no more.
The kids run in from playing
While discarding shoes and socks,
With none of them landing in (or near)
The laundry basket box.
“This ain’t mommy’s job!” I bark,
“Come pick up all this mess!
Who did you think would get it?
Never mind. Let me guess…”
“Keep cleaning till you’re finished!
She’s on her way just now!
And when she passes through that door
She’d better be like, ‘Wow!’
Cause this year will be different!
And all the world will know,
That Mother’s Day in this one house
Is a twenty-four-hour show!”
So…
Dishes were cleaned and mostly put up.
That’s almost every plate and almost every cup.
Brooms were swishing and mops were swashing,
And most every elbow in the house was washing.
Many things needed doing.
A lot of straightening and even some gluing.
Then…
“The garage door just opened!
And soon she’ll be inside!
To witness what we’ve done!”
(As we all just beamed with pride.)
She passed right by the dog hair
– A little less now in the corner.
Over the damp and freshly mopped floor
– Before we thought to warn her.
She scooted by the laundry,
And the sink which held no dishes,
And saw NOT the broken vase
As had been ALL our wishes.
She then plopped herself down
On the couch (once) covered with stuff,
And noticed not the pillow
And its lack of fluffy fluff.
She cared not about the mess
That once had covered the house,
Or the peanut butter stain
That was hiding on her blouse.
She cared only to be home
With the family she surely loves.
For whom she does so much for
Despite the mess and shoves.
She was gone but for an hour
And you’d think it was for days,
By all the attention that she got
In lots and many ways.
“But mommy did you notice?”
“And mommy did you see?”
“All the special things we did?
“All for you, all by me!”
And as they went on and on,
Telling tales of all their deeds,
I sat and wondered just how does
She attend to all our needs?
She is, after all, one person
Who’s the primary for all six,
Just how can she do it all
With such chaos in the mix?
She’s the mother of four boys
And the husband of this one.
She’s been given special gifts,
And we’re blessed by everyone.
So I left them to their gushing
For she’s deserving of every word.
And I wandered down the hall,
Twas their laughing that I heard.
No mention of the messes
That still lingered all around.
For with just the slightest glance
One was certain to be found.
Every day should be for mom.
A day for just – receiving.
A day where our love for her
Is right there for – believing.
Show mom each and every day
That you don’t need a date,
To show how much you love her,
And do appreciate
Everything she does for you
Things so big, things so small.
And show her that you love her
Everyday. One and all.
April, by the way, just happens to be National Poetry Month, as well.
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