Thanksgiving is almost here. Over the years, this holiday has taken on a variety of meanings, most of them centered on family, caring and sharing. You can carry these same values past Thanksgiving into your daily life — and you can certainly incorporate them into your financial strategies for taking care of your loved ones.

So, here are a few suggestions:

•Protect your family. If something were to happen to you, could your family pay the mortgage? Could your children still afford to go to college someday? To protect your family’s current lifestyle and long-term goals, you may well need to maintain adequate life and disability insurance. Your employer may offer these types of protection as employee benefits, but the coverage might be insufficient for your needs. Consequently, you might need to supplement your employer-paid insurance with additional policies.

•Invest in your children. If you have young children, and you’d like to see them go to college someday, you may want to start putting money away toward that goal. You can save and invest for college in a variety of ways, but one popular method is through a 529 plan, which offers high contribution limits and potential tax advantages. Plus, a 529 plan gives you significant control and flexibility: If you establish a plan for one child, but he or she decides not to go to college, you can name another child as the recipient.

•Be generous. You don’t have to be a millionaire to make meaningful financial gifts to your family. For example, if you have grown children, consider helping them fund their IRAs. You can’t contribute directly to a child’s IRA, but you can write checks to your children for that purpose — though, of course, they are then free to do whatever they want with the money. It’s not always easy for a young person to “max out” on an IRA, which has an annual contribution limit of $5,500 for workers under 50, so any help you can give your children in this area should be greatly appreciated.

•Safeguard your own financial independence. Almost certainly, one of the most undesirable outcomes you can imagine is to become financially dependent on your grown children. Even if you save and invest diligently throughout your working years, you could still be vulnerable to financial dependency if you need an extensive period of long-term care, such as a nursing home stay. These costs can be enormous, and Medicare typically pays only a small percentage, and usually for just a limited time. To protect your financial freedom, you should explore ways of addressing long-term care costs. A financial professional can explain those alternatives that may be appropriate for your situation.

•Communicate your wishes to your family. At some point in your life, you will need to draw up your estate plans, which could include a will, a living trust, a durable power of attorney, a health care directive and other documents. To be fair to your children and other family members, and to avoid hurt feelings, you should clearly communicate your plans and your wishes while you are still around.

Thanksgiving means more than turkey and football. And if you can successfully apply the lessons of this holiday to your financial plans, both you and your family will have reason to be thankful.

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

This article originally appeared on Crestview News Bulletin: Put Thanksgiving lessons to work in your financial plans

This time of year, we think about giving special gifts to people in our lives who mean the most to us. 

Your list might include teachers, neighbors, friends and co-workers. Gifts don’t have to be expensive; it is the thought behind the gesture that means the most to your friends and family.

Whoever is on your list this year, think about using your kitchen as Grand Central for gift making. Gifts of food are heartfelt and send a message that you spent time making something special that looks good and tastes yummy. These gifts say thank you in a thoughtful way.

Don’t forget to include your kids in the process of cooking and assembling gifts to teach them something about budgeting and enjoying the simple pleasure of gift giving. 

In addition, remember, the way you present a gift can be just as important as the food itself. Try to pair containers with the food gift; they will be used long after the food is gone. Examples are a decorative plate filled with cookies, a pie plate filled with your favorite pie or a trifle bowl filled with goodies. You get the idea.

Another thought is to put together items that say “sit and take a break,” like a loaf of quick bread paired with a pound of coffee, homemade salsa with chips and a favorite beverage. Show that you put thought into the gift and spent time preparing the presentation.

With everyone watching their budgets this year, get the creative juices working by purchasing ingredients on sale and found locally. Local products in December include pecans, sweet potatoes, honey, peanuts, persimmons, satsumas, jams and jellies sold at local farmers markets.

So get going and unleash your creativity, and give a few gifts from your kitchen — and your heart. Have fun making these gifts, and remember to enjoy the process.

Pamela H. Allen is the University of Florida-Institute of Food and Agricultural Sciences’ interim Okaloosa County extension director 

CHOCOLATE CRINKLE COOKIE

This dessert’s crackle on top with the chocolate and white sugar says, “It is holiday time!” These cookies are a good gift cookie as they stay firm and will last up to a week. They also freeze well if you need to make them ahead of time. Place them on a festive plate, top with clear wrap and decorate it with a ribbon.  

Ingredients

• ½ cup of shortening
• 1 2/3 cup sugar
• 2 teaspoons vanilla
• 2 eggs
• Two 1-ounce squares of unsweetened chocolate (melted)
• 2 cups sifted all-purpose flour
• 2 teaspoons baking powder
• ½ teaspoon salt
• 1/3 cup of milk
• ½ cup chopped walnuts or pecans (optional)

Directions

Cream together the shortening, sugar and vanilla. Beat in the two eggs and then add the melted chocolate. 

In another bowl, sift together the flour, baking powder and salt.

Add flour mixture slowly to creamed mixture, alternating with the milk until thoroughly blended. 

Stir in walnuts. Chill for 3 hours.

Form in 1-inch balls and roll in confectioners’ sugar. Place on greased cookie sheet 2 to 3 inches apart. 

Bake in moderate oven at 350 degrees for 15 minutes. Cool slightly and remove from pan. Makes 48.

They are now ready to put in a container and give to friends. This cookie freezes well.

CRANBERRY NUT BREAD

Prepare this nut bread and decorate it with wrapping and ribbon. You might include the loaf pan as part of the gift. Include a brick of cream cheese along with a decorative butter knife for a complete package.

Ingredients

• 2 cups all-purpose flour
• 1 cup sugar
• 1 1/2 teaspoons baking powder
• ¾ teaspoon salt
• 1/2 teaspoon baking soda
• 3/4 cup orange juice
• 1 tablespoon grated orange peel
• 2 tablespoons shortening
• 1 egg, well beaten
• 1 teaspoon vanilla flavoring
• 1 1/2 cups fresh cranberries, coarsely chopped
• 1/2 cup chopped nuts (walnuts or pecans)

Directions

Preheat oven to 350 degrees. Grease a 9- by 5-inch loaf pan.

Mix flour, sugar, baking powder, salt and baking soda in a medium mixing bowl. Stir in orange juice, orange peel, shortening and egg and vanilla. Mix until well blended. Stir in cranberries and nuts. Spread evenly in loaf pan.

Bake 55 minutes or until a toothpick inserted in the center comes out clean. Cool on a rack for 15 minutes. Remove from pan; cool completely. Makes one loaf (16 slices).

Bake loaf in a decorative pan as part of the gift. Make sure you cool after cooking, and then replace in pan and wrap as part of the gift.

THE REAL SWEET POTATO PIE

Use sweet potatoes to promote locally grown produce. After baking, cool then give as a gift in a nice pie plate. Wrap and refrigerate with instructions on reheating for serving.  For added effect, bundle with whipped cream and a pie knife. 

Prepare your sweet potatoes for the pie mix. Select six to seven large sweet potatoes and cut in half or quarters. Boil potatoes slowly for about 30 minutes. Let cool. Peel potatoes after they cool. The peel should come off easily.

Measure 6 cups of sweet potato in a mixing bowl. Use a stand mixer to beat the sweet potatoes and do not scrape off any mixture from beaters; this will contain the stringy part and you do not want it in your pie. Discard the strings.

Ingredients

• 6 cups cooked mashed sweet potatoes
• 1 cup evaporated milk
• ½ cup butter
• 2 teaspoons vanilla flavoring
• 2 teaspoons nutmeg
• 1 teaspoon butter flavoring
• 4 eggs
• 1 cup sugar

Directions

Mix all ingredients in a stand mixer until well blended. The mixture should be smooth and free of lumps. The mixture will keep in the refrigerator up to a week and may be frozen for future use. Label with the date and amount before placing in the freezer. 

For the pie:

Place mixture in unbaked pie shell and smooth to the edges. You will need about 2 ½ cups for each 9-inch-deep pie shell. Mini tart shells may also be used for individual pies.  This recipe makes about three pies or 12 individual mini pie tarts. Cook at 350 degrees until puffed and browned slightly on top — about 40 minutes.

Visit your local farmers market to purchase nuts, honey, produce and jams and jellies.  Look for locally grown items and support our area growers. 

See http://wfrec.ifas.ufl.edu/panhandle-produce-pointers/ for additional information about local produce.

This article originally appeared on Crestview News Bulletin: Gifts from the kitchen make the holidays special

During your working years, you are (hopefully) putting money into your IRA and your 401(k) or similar employer-sponsored retirement plan. But once you’ve retired, how can you maximize the benefits you get from these plans?

First of all, you need to be aware of rules governing withdrawals from your retirement plans.

If you are older than 59½, you can withdraw money from your traditional IRA without paying penalties, though the withdrawals will typically be taxable. But once you reach 70½, you generally must start taking “required minimum distributions” (RMDs) from these accounts, with the annual amount determined by your age, the account balance and other factors. (The situation is different with a Roth IRA. If you are the original account holder, you are not required to withdraw funds from your Roth IRA at any age. You can choose to withdraw your contributions at any time, tax and penalty free. To withdraw your earnings tax and penalty free, you generally must have owned the account for at least five years and have reached age 59½.)

So, assuming you do have a traditional IRA and a 401(k) or similar plan, what should you do with the RMDs? You’ll probably require at least some of these distributions for your living expenses, but if you don’t need it all, what should you do with the “excess?”

Here’s one suggestion: As part of your overall retirement investment portfolio strategy, you can reinvest the money into these three “buckets”:

•Near-term income bucket — For this bucket, you’re not concerned with high returns — you just want the money to be there when you need it for expenses and unexpected costs, such as a major car repair, a new furnace, and so on. It’s always a good idea to have an emergency fund containing three to six months’ worth of living expenses — and your short-term income bucket could be an ideal source to help build such a fund.

•Medium-term income bucket — During retirement, you can probably never have too many sources of income, so you may want to fill a bucket with intermediate- and long-term bonds, which make regular interest payments.

•Long-term income bucket — Even when you’re retired, you will need some growth potential in your portfolio to help keep you ahead of inflation in the long run. So this bucket should be filled, not surprisingly, with growth-oriented investments. These investments can fluctuate in value, but as long as you don’t need to tap into them in a hurry, you may be able to avoid taking withdrawals when the price is down.

In addition to this “bucket” approach, you do have other options for your RMDs. For example, you could give your grown children some financial assistance, possibly for help in funding their IRAs. Or, you could contribute to a college-savings vehicle, such as a 529 plan, for your grandchildren. And you can always make charitable contributions, which allow you to support worthwhile organizations and, by doing so, earn some potential tax benefits.

Clearly, you can do a lot with your RMDs. And you worked hard for them — so make sure they work just as hard for you.

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

This article originally appeared on Crestview News Bulletin: How you should use retirement plan distributions