When you create your financial and investment strategies for retirement, what will you need to know?

In other words, what factors should you consider, and how will these factors affect your investment-related decisions before and during your retirement?

Consider the following:

•Age at retirement — Not surprisingly, your retirement date likely will be heavily influenced by your financial situation — so, if you have to keep working, that’s what you’ll do. But if you have a choice in the matter, your decision could have a big impact on your investment strategy.

For example, if you want to retire early, you may need to save and invest more aggressively than you would if you plan to work well past typical retirement age.

Also, your retirement date may well affect when you start accepting Social Security payments; if you retire early, you might have to start taking your benefits at age 62, even though your monthly checks will be considerably smaller than if you waited until your "full" retirement age, which is likely to be 66 or 67.

•Retirement lifestyle — Some people want to spend their retirement years traveling from Athens to Zanzibar, while others simply want to stay close to home and family, pursuing quiet, inexpensive hobbies. Clearly, the lifestyle you choose will affect how much you need to accumulate before you retire and how much you will need to withdraw from your various investment accounts once you do.

•Second career — Some people retire from one career only to begin another. If you think you’d like to have a "second act" in your working life, you might need some additional training, or you might just put your existing expertise to work as a consultant.

If you do launch a new career, it could clearly affect your financial picture. For one thing, if you add a new source of earned income, you might be able to withdraw less from your retirement accounts each year. (Keep in mind, though, that once you reach 70 ½, you will have to take at least some withdrawals from your traditional IRA and your 401(k) or other employer-sponsored retirement plan.)

On the other hand, if you keep earning income, you can continue putting money into a traditional IRA (until you’re 70 ½) or a Roth IRA (indefinitely) and possibly contribute to a retirement plan for the self-employed, such as an SEP-IRA or an "owner-only" 401(k).

•Philanthropy — During your working years, you may have consistently donated money to charitable organizations. And once you retire, you may want to do even more. For one thing, of course, you can volunteer more of your time. But you also might want to set up some more permanent method of financial support.

Consequently, you might want to work with your legal advisor and financial professional to incorporate elements of your investment portfolio into your estate plans to provide more support for charitable groups.

As you can see, your retirement goals can affect your investment strategy — and vice versa. So, think carefully about what you want to accomplish, plan ahead and get the help you need. It takes time and effort to achieve a successful retirement, but it’s worth it.

This article was written by Edward Jones on behalf of your Edward Jones financial adviser.

This article originally appeared on Crestview News Bulletin: Consider multiple factors when creating retirement plans

Each fall, nature puts on a brilliant show of color throughout the United States.

As the temperatures drop, autumn encourages the “leaf peepers” to hit the road in search of the red-, yellow- and orange-colored leaves of the northern deciduous trees.

Here in the Florida Panhandle, fall color means wildflowers. As one drives the roads it’s nearly impossible to not see the bright yellows in the ditches and along the wood’s edge.

Golden asters (Chrysopsis spp.), tickseeds (Coreopsis spp.), silkgrasses (Pityopsis spp.), sunflowers (Helianthus spp.) and goldenrods (Solidago spp.) are displaying their petals of gold at every turn. These wildflowers are all members of the Aster family, one of the largest plant families in the world.

For most, envisioning an aster means a flower that looks like a daisy. While many are daisy-like in structure, others lack the petals and appear more like cascading sprays. So if you are one of the many hitting the road in search of fall color, head to open areas. For wildflowers, that means rural locations with limited homes and businesses.

Forested areas and non-grazed pastures typically have showy displays, especially when a spring burn was performed earlier in the year. With the drought we experienced, moist, low-lying areas are naturally the best areas to view the many golden wildflowers.

Visit www.flawildflowers.org/bloom.php, the Florida Wildflower Foundation website, to see both what’s in bloom and the locations of the state’s prime viewing areas.

People who want to add native wildflowers and other Florida-friendly plants to their landscapes may go to the Master Gardeners fall plant sale. It is 8 a.m. to noon Oct. 14 at the Okaloosa County Extension Annex, 127 SW Hollywood Blvd., Fort Walton Beach.

Sheila Dunning is an agent at the University of Florida's Institute of Food and Agricultural Sciences Extension office in Crestview.

This article originally appeared on Crestview News Bulletin: Enjoying a golden fall in the Panhandle

"Patience is a virtue" is a saying I heard many times growing up, usually from my grandmother. As a child I wondered why waiting is a virtue.

Here is a definition of patience: "Perseverance; constancy in labor or exertion."

We live in an instant society. Do we even teach our children patience anymore? We have ATMs to do our banking, online grocery shopping with home delivery, microwaves in which to cook our food, and my personal favorite, instant coffee makers like my Keurig.

We are impatient and want instant results. I count myself as one who is impatient.

Unfortunately, one of the many reasons that so many Americans are in debt is because they won't save money for the latest gadget. Instead they put it on their credit card.

Many times the gadget has broken or is no longer relevant and we are still paying for it. We need to get out of this habit and make the hard decision as to whether this item is truly needed or not. Let's quit being victims of slick marketing.

I enjoy progress, yet it astounds me as to how long a new home or building takes to complete — many months. I'd love to see several new restaurants come to Crestview, but this process takes time: acquisition of land; issuance of permits; needed studies completed and then the actual building of the structure. I'd welcome an Olive Garden, Chili's, Longhorn, Marie Callender's or Golden Corral in Crestview tomorrow, but it's not going to happen overnight.

We do ourselves and children no favors by wanting everything instantly, as patience develops character. Character is defined as "distinguished or good qualities; those which are esteemed and respected."

Our character is developed by waiting, whether it is for a short-term goal like a treat, or a long-term goal such as losing weight, buying a house or a new car.

We learn valuable lessons about saving for a rainy day and finding out that our "need" of the moment was a want, and saving money is a satisfying goal.

Developing patience will help us endure the hardships we encounter in life much more easily, and as we have seen with the recent hurricanes, hardships do occur.

How we approach hardships in our lives reveals our character.

Grandmother was correct.

Janice Lynn Crose, a former accountant, lives in Crestview with her husband, Jim; her two rescue collies, Shane and Jasmine; and two cats, Kathryn and Prince Valiant.

This article originally appeared on Crestview News Bulletin: Patience, character help us through hardships

My wife and I just returned from a trip to Scotland we took with a number of other Presbyterian pastors and church members. This trip was put together as part of the 500th anniversary of the Protestant Reformation.

Scotland is the home base of Presbyterianism, mostly because of the work of John Knox in the mid-1500s. My side of the family hails from one of the old clans in Scotland. It was fun looking for various ways "our" tartan was on display in stores and other places.

While there, we learned a great deal more about the Reformation, John Knox, and the history of that time. We saw wonderful sights in God’s creation, both natural and human-made.

And we met wonderful people. Our encounters with people in Scotland left an indelible impression on us. Everyone, literally, that we encountered when we sought assistance or directions was polite, courteous and helpful. An interruption of their work or whatever they were doing was not seen as an imposition, but a chance to be helpful.

People driving on the roads were courteous and polite. Most of the roads were single-lane roads. If two cars met coming toward each other, the driver that was closest to a spot on the shoulder to pull over did so, with a wave of good wishes, even if it meant they had to back up a little. Drivers stopped for pedestrians in crosswalks.

Their politeness awoke within us even more of our own politeness as we continued to encounter strangers willing to help us out.

A lesson here is one that Jesus emphasized in his ministry: "Do to others as you would have others do to you." The people in Scotland were polite to us, and we responded in kind.

It has been said, "You reap what you sow." It is true. A little kindness and generosity go a long way. And you may never know what a positive impact you may have on someone.

If you desire to have others treat you with more kindness, you will first need to show them kindness. It may take a while for folks to catch on, but the more kindness you show to others, the more they will eventually show kindness toward you.

I have been asked if I would ever go back to visit Scotland again. My response is, "Absolutely!"

And I would look forward to again being among the kind, gentle people of my heritage.

The Rev. Mark Broadhead is pastor at Laurel Hill Presbyterian Church and First Presbyterian Church of Crestview.

This article originally appeared on Crestview News Bulletin: Scotland embodies 'do unto others' lesson

We were blessed here in Crestview and Northwest Florida as Hurricane Irma missed us. In other parts of our state, Floridians were hard hit by this monster storm.

It has been heartening to see the pictures of neighbors helping neighbors in Florida as well as Texas. This is what being a friend and neighbor is truly about.

Leviticus 19:18 states, "… but thou shalt love thy neighbor as thyself: I am the LORD." This is not merely a suggestion, rather a commandment from the Lord. It was inspiring to see the young people in Houston in their small boats going around and rescuing dogs from the flood waters, and others rescued cats and horses.

In areas of Florida, many prepared and distributed food to those who were hungry. Christian organizations were on the ground quickly to help. Groups such as Samaritan's Purse, United Methodist Committee on Relief, and the Seventh Adventists were among the groups that offered immediate relief in both Florida and Texas.

I have friends in the Orlando area who, once they had power restored, invited their friends or acquaintances to come and stay with them. This was an open-ended invitation including people they have never met. What a great example of compassion.

Gov. Rick Scott was very proactive in asking those in flood zones and outer lying areas to evacuate. "We can rebuild your home; we cannot rebuild your life. This is a life-threatening storm. Protecting life is an absolute top priority," he said.

As difficult as it is to lose one's home or belongings, they can be replaced. Life can't.

Hurricane season is not over. Don't let down your vigilance. We have Jose and Max gathering strength in the Atlantic. Make sure you have supplies on hand should we get another hurricane and take proper precautions for yourself and your family.

If you desire to help your fellow Floridians or those in Texas and other states hit by these hurricanes, you can donate through your local church or through Samaritan's Purse or the Salvation Army.

Now is the time that we as Americans need to stand strong together.

Janice Lynn Crose, a former accountant, lives in Crestview with her husband, Jim; her two rescue collies, Shane and Jasmine; and two cats, Kathryn and Prince Valiant.

This article originally appeared on Crestview News Bulletin: Continue hurricane vigilance, neighborly assistance

If you want to enjoy a comfortable retirement lifestyle, you don’t need to have been born rich or even to have earned scads of money during your working years.

But you do need to make the right moves at the right time — which means you might want to start a “retirement countdown” well before you draw your final paycheck.

What might such a countdown look like? Here are a few ideas:

•10 years before retirement: At this stage of your career, you might be at, or at least near, your peak earning capacity. At the same time, your kids may have grown and left the home, and you might even have paid off your mortgage.

All these factors, taken together, may mean that you can afford to “max out” on your IRA and your 401(k) or other employer-sponsored retirement plan. And that’s exactly what you should do, if you can, because these retirement accounts offer tax benefits and the opportunity to spread your dollars around a variety of investments.

•Five years before retirement: Review your Social Security statement to see how much you can expect to receive each month at various ages. You can typically start collecting benefits as early as 62, but your monthly checks will be significantly larger if you wait until your “full” retirement age, which will likely be 66 (and a few months) or 67. Your payments will be bigger still if you can afford to wait until 70, at which point your benefits reach their ceiling.

In any case, you’ll need to weigh several factors — your health, your family history of longevity, your other sources of retirement income — before deciding on when to start taking Social Security.

•One to three years before retirement: To help increase your income stream during retirement, you may want to convert some (but likely not all) of your growth-oriented investments, such as stocks and stock-based vehicles, into income-producing ones, such as bonds.

Keep in mind, though, that even during your retirement years, you’ll still likely need your portfolio to provide you with some growth potential to help keep you ahead of inflation.

•One year before retirement: Evaluate your retirement income and expenses. It’s particularly important that you assess your health care costs. Depending on your age at retirement, you may be eligible for Medicare, but you will likely need to pay for some supplemental coverage as well, so you will need to budget for this.

Also, as you get closer to your actual retirement date, you will need to determine an appropriate withdrawal rate for your investments. How much should you take each year from your IRA, 401(k) and other retirement accounts?

The answer depends on many factors: the size of these accounts, your retirement lifestyle, your projected longevity, whether you’ve started taking Social Security, whether your spouse is still working, and so on. A financial professional can help you determine an appropriate withdrawal rate.

These aren’t the only steps you need to take before retirement, nor do they need to be taken in the precise order described above. But they can be useful as guidelines for a retirement countdown that can help ease your transition to the next phase of your life.

This article was written by Edward Jones on behalf of your Edward Jones financial adviser.

This article originally appeared on Crestview News Bulletin: Here’s your retirement countdown