Newspaper Page Text
| / Sliniston JMmiu'V
CLhe journal
TUESDAY,
JANUARY 25, 2005
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Chris Kinnas
Investment Advice
If you invest in a traditional
IRA and a 401(k) or other
employer-sponsored, tax
deferred retirement plan, you
can help yourself make progress
toward the retirement lifestyle
you’ve envisioned.
Consequently, you’ll want to let
your IRA and 401(k) have
growth opportunities for as long
as possible. Sooner or later,
though, you’ll have to start tak
ing money out of these plans.
And when that day arrives,
you’ll want to know the with
drawal rules - because by mak
ing the right moves, you can
avoid costly penalties and help
ensure the most efficient way to
tap into your money.
Required Minimum
Distributions
The rules governing with
drawals fall under the Internal
Revenue Service’s “required
minimum distribution” (RMD)
guidelines. Here are some of the
key RMD points to keep in
mind:
• You should take distribu
tions by age 70-1/2 - You should
begin taking RMDs in the year
in which you turn 70-1/2. If you
don’t take your first RMD dur
ing that year, you must take it
no later than April 1 of the fol
lowing year. And if you do put it
off until April 1, you’ll need to
take two distributions in one
year. So, for example, if you turn
70-1/2 in May 2005, you’ll need
to take your first RMD by Dec.
31, 2005. If you don’t, you’ll
have to take it by April 1, 2006 -
and then, you’ll have to take
your second RMD by Dec. 31,
2006.
If you don’t take your RMDs
on time, you may have to pay
the IRS a 50% penalty tax on the
taxable portion of your uncol
lected distribution - so make
sure you know your dates.
• You can take more than the
minimum - You can withdraw
more than the RMD, but, as the
word “required” suggests, you
can’t withdraw less.
• You may be able to delay
RMDs if you’re still working - If
your employer’s retirement plan
permits it, you may not have to
take RMDs if you are still work
ing at age 70-1/2 or older.
However, this exception won’t
apply if you own 5%> or more of
your company.
Calculating RMDs
To determine your RMD,
you’ll probably use one of these
tables:
• Uniform Lifetime Table -
Most people will use this table.
You look up your age, find your
life expectancy factor, take the
balance of your retirement
accounts as of Dec. 31 of the
prior year and then divide by the
factor. To illustrate: According
to the Uniform Lifetime Table,
the factor for age 70 is 27.4, so,
for your first RMD, you take
your retirement plan balance as
of Dec. 31, 2004 (assuming you
turn 70-1/2 in 2005) and divide
by 27.4.
• Joint Life Table - You can
use this table if you have a
spouse who is the sole benefici
ary and who is more than 10
years younger than you are.
When you use this table, you
take your retirement plan bal
ance from the previous year and
divide it by a joint life expectan
cy factor. Since this number will
be higher than your individual
life expectancy factor, your
RMDs will be lower than if they
were calculated on the Uniform
Lifetime Table.
Before you start taking
RMDs, see your tax adviser.
You’ll want to get the numbers
right - right from the start.
Chris Kinnas is an investment
representative with Edward
Jones in Perry.
Johnny Carino’s Italian Restaurant
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submitted
The Warner Robins Area Chamber of Commerce hosted a ribbon cutting cer
emony Jan. 18 for Johnny Carino’s Italian Restaurant, located at 2705 Watson
Blvd. Johnny Carino’s is a casual, full-service Italian concept eatery with an
innovative menu. Inspired by Southern Italian country recipes, the menu
ranges from lasagna to spicy shrimp and chicken.
Two join Salon Rltz
WARN
ROBINS -
Salon Ritz
Salon and
Day Spa
has wel
corned
two new
beauty
specialists
to its
team.
SMITH
Pam
Smith,
formerly
of Hair
and
Company
in Perry,
is a 1992
graduate
of The
Beauty
School of
E
Ml i t
VANCE
America. She has been
employed as a nail techni
cian and specialist since
that time in the Middle
Georgia area. Smith also
completed Master
Training at the Creative
Academy of Nails, and con
tinues to take every oppor
tunity to further study the
latest techniques and prod
ucts available. Smith was
chosen by Warner
Brothers to do the nails of
movie star Gena Rowlands
while she was filming the
movie “Something To Talk
About ” Pam resides in
Perry with her husband,
David Smith, and son,
Michael Roberts.
Gail Vance has joined
Salon Ritz as a hairdresser
and stylist. She graduated
(To send in your event for
the Business Calendar, fax
the details to 988-1181, e
mail to hhj@evansnewspa
pers.com or mail to Houston
Home Journal, P.O. Box
1910, Perry, GA 31069. The
deadline for inclusion is 5
p.m. Fridays.)
Jan. 27: Selling
Through Customer
Service
WARNER ROBINS - This
seminar, sponsored by the
University of Georgia Small
Business Development
Center, will show how a
business can compete with
anyone. The class will be
from 6 until 8 p.m. at the
ATDC Building, 151 Osigian
Blvd. Prepaid registration is
required; cost is S4O. (478)
751-6592.
Business
OPEN FOR BUSINESS
BUSINESSPEOPLE
from Houston County
Vocational School and has
been a hairdresser for over
30 years in the Middle
Georgia area. Vance spe
cializes in permanent hair
straightening, using a
method that does not harm
the hair, and leaves the
hair with lots of body. She
also stays up to date on the
newest color and cutting
techniques. Vance resides
in Perry with her husband,
Ronald, and two sons,
Bruce and Phillip.
Vets open
new pet hospital
WARNER ROBINS - Dr.
E d
Hortman,
Dr. Mallory
Tate and
their vet
erin a r y
team
opened
Banfield,
The Pet
Hospital of
Warner
Robins, on
Saturday.
The full
service
small pet
hospital is
located in
the
Petsmart
store.
Hortman
received his
DVM from the University
of Georgia in 1992. A
Georgia native, he has
practiced in the Atlanta
metro area since 1992.
BUSINESS CALENDAR
Jan. 29: Grant Writing
Cl&ss
WARNER ROBINS -
Family First of Central
Georgia will sponsor a grant
writing class beginning Jan.
29 from 10-11 a.m. at 1239 C
Russell Parkway.
Nonrefundable registration
fee is $lO, plus $25 per class.
Registration deadline is Jan.
28. (478) 922-3993.
Feb. 8: Writing a
Successful Business Plan
WARNER ROBINS - This
seminar, sponsored by the
University of Georgia Small
Business Development
Center, will show how a
business plan helps you
start, build and manage
your business. Participants
will receive a detailed plan
ning outline and other infor
mation to help develop a
Hortman and his wife,
Lisa, have four children,
Lindsay, Erin, John-David
and Tyler. They share
their home with five cats, a
beagle named Katy, and a
new family member, a
golden retriever named
Baylee.
Tate received his DVM
degree from Louisiana
State University in 1996.
He grew up in Baton
Rouge, La.
Tate and his wife, Tasha,
have been married since
1996. They have a son,
Mallory Jr., and a daugh
ter, Ming-Kimora.
Muse named
CPA partner
MACON - David Paschal
“Pat” Muse Jr. has been
admitted to the partner
ship of McNair, McLemore,
Middlebrooks and Co. LLP
a local CPA firm with 19
partners and total staff of
100.
Muse is a graduate of
Georgia Southern
University with a major in
accounting. Prior to join
ing the firm in 2000, he
worked ten years in public
accounting with the firms
of Moore and Cubbedge
LLP and Moore Stephens
Tiller LLC, and three years
with Charter Medical
Corporation in various
financial roles.
He is a member of the
firm’s financial institu
tions group specializing in
audit, accounting and con
sulting services to banks
and other financial institu
tions.
HORTMAN
TATE
plan immediately. The class
will be from 6 until 8 p.m. at
the Advanced Technology
Development Center, 151
Osigian Blvd. Prepaid regis
tration is required; cost is
S4O. (478) 751-6592.
Feb. 9: Starting your
Own Business
(Open to Robins Air Force
Base personnel only)
WARNER ROBINS-This
seminar, sponsored by the
University of Georgia Small
Business Development
Center, will teach the
requirements for starting
your own business. Topics
include financing, business
plan formation, legal issues,
and more. The class will be
from 9 a.m. until noon.
Prepaid registration is
required; cost is S4O. (478)
926-1256.
'Demand puli'
Several years ago, my
wife and I purchased a
trailer to use for occasion
al weekend getaways.
Unfortunately, we had no
vehicle powerful enough
to pull the 5,000-pound
load.
We shopped, deciding a
used Explorer would meet
our needs. A friendly Ford
salesman helped us search
the charts of the “RV and
Trailer Towing Guide.”
We found we needed a
minimum of a V-6 engine
with at least a 3.73 axle
ratio.
A code stamped on the
rear differential desig
nates the axle ratio. “D 4”
is the code for a 3.73 axle
ratio.
I had lived over 50
years, and I never wanted
to know any of that infor
mation. Yet for three
weeks, I crawled under
Ford Explorers, looking at
two-digit codes!
When we adult humans
need information, we’ll
pull it from whatever
source we can find! We
don’t learn as well, how
ever, when someone else is
pushing their agenda on
us. I’ve found this reality
to be true in my coaching
practice and use the terms
“demand pull” and “agen
da push” with my clients.
An example of “demand
pull” is when your teenag
er spends every spare
moment studying the
“Driver’s Handbook”
preparing to take the
exam for a learner’s
license. “Agenda push” is
what occurs when you
attempt to teach your
teenager almost any other
life skill you consider
valuable. Your teen thinks
it’s irrelevant or believes
he or she already knows
everything about it.
I’m not sure where I
first heard these terms.
The “demand pull” con
cept likely comes from the
economic law of supply
and demand. When we
feel a need for insight or
awareness, we seek to
“pull” the answers (or at
least some ideas) from
whatever source we can
find.
This approach is con
trasted with “agenda
push,” where somebody
wants to help us solve a
problem or improve a sit
uation we face. They offer
unsolicited advice, which
few of us appreciate! They
“push” their “agenda,”
whatever it may be, in our
direction. We often resist,
missing the potential good
we might gain by consid-
Assessing Your
Leadership Skills
-SBS/person
Certified
Leadership Development Coach
Building leaders and
organizations of excellence
/vs
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■MBmNBSfWNS:
Dennis Hooper
even greater things
dhooper2@juno.com
ering their suggestion.
If you have ever been in
a mentoring relationship,
you recognize the contrast
in these two situations. It
is far easier to support the
less experienced manager
when he or she arrives at
the meeting having iden
tified a situation being
faced or an outcome
desired. You are free to
generate options, helping
the manager evaluate
potential scenarios. Your
insights and experience
stimulate and encourage.
When the manager
shows up unprepared,
however, looking to you to
identify a situation, it
puts you in an awkward
“selling” position. You
want to serve, and you
realize the time available
to beneficially influence
the manager is limited.
You offer some observa
tion and hope that it
addresses a need.
Sometimes your sugges
tion stimulates a great
dialogue, but sometimes it
falls flat.
Teach those you serve to
prepare themselves for
your collaboration.
Though you may have ter
rific insights to share,
your experience will sup
port them far better if
they specify a particular
situation.
If you are privileged to
have a mentor or coach,
prepare for your opportu
nities to engage their cre
ativity and support. Keep
a growing list of potential
topics to explore with
them in your appointment
calendar.
I coach leaders, and I’m
far more valuable to them
when they have prepared
for our sessions. Though I
have topics I think are
valuable for ALL leaders,
my clients are best served
when they have specific
“demand pull” needs.
I prefer to save my
“agenda push” topics for
sharing in these weekly
columns! *
F. Dennis Hooper
See all the features on
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Web site!
hhjnews.com
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dhooper2@juno.com
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