SOMA Living October 2025

FINANCIAL FOCUS LOOK AT YOUR FINANCIAL SITUATION HOLISTICALLY When you plan a trip, you weigh destination, climate, activities, transport, costs, and timing. Take the same holistic view of your financial future. Bring every part of life into the plan and goals. Key factors: • Family support: Choices about helping family shape every life stage. With young children, decide whether to save for college, how much, and which investments. As they become adults, decide how much help to offer for big expenses like a home or car. When you draft your estate plan, decide how and when to distribute assets to children, grandchildren, or relatives. • Personal beliefs: Civic, ethical, and moral commitments may inspire giving and a philanthropic legacy. To pursue these goals, include gifting techniques in today’s strategy and tomorrow’s estate plan. For the estate piece, work with your tax and legal advisors. • Purpose in retirement: Purpose brings fulfillment beyond money. Before retirement, you may focus on family, profession, or community. After you leave your career path, define how you will live your purpose. Travel, volunteer, or pursue hobbies. Each path carries different savings needs and withdrawal targets from IRAs and 401(k)s. • Health: Physical and mental health strongly influence plans. Better health can lower medical bills and reduce what you must set aside. Prepare for long-term care, which can top $100,000 per year for a nursing home room. Weave these elements into one plan with a financial professional. Look at your situation holistically. Every part of life matters and should be part of your long term plan.

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Gary T. Jones 973.821.4900 • g.jones@EdwardJones.com

With over 25 years of experience, I work with individuals and businesses to help you achieve your financial goals. As a longtime resident of SOMA, I am proud to serve the local community. To learn more about the content of this article or schedule an appointment to talk about your goals, please contact me in my Maplewood office.

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