Jan. 2021 Newsletter

Parable Financial Network

Parable Financial Network
Jan Clark
501 Gloucester St

Suite 205

Brunswick, GA 31520

Happy New Year

101+ Best Happy New Year 2021 Images, HD Wallpapers, Photos, Pics

Greetings and Happy New Year!  Well, 2020 is finally yesterday and here we are in 2021.  We had many struggles with the virus, the economy and other things we had to face but here we are.  Before we start any news, we would like to pray a blessing on you for this year!Good for the Family: The practice of blessing - CATECHIST Magazine

May the Lord bless you and protect you.
May the Lord smile on you and be gracious to you. 
May the Lord show you His favor and give you His peace.
Numbers 6:24-26



3 questions to help grow your retirement savings | Star Tribune

Five Tips to Regain Your Retirement Savings Focus in 2021

In early 2020, 61% of U.S. workers surveyed said that retirement planning makes them feel stressed.1 Investor confidence was continually tested as the year wore on, and it’s likely that this percentage rose — perhaps even substantially. If you find yourself among those feeling stressed heading into the new year, these tips may help you focus and enhance your retirement savings strategy in 2021.

1. Consider increasing your savings by just 1%. If you participate in a retirement savings plan at work, commit to increasing your contribution rate by just 1%, and then try to increase it again whenever possible until you reach the maximum amount allowed. The chart below illustrates the powerful difference contributing just 1% more each year can make over time.



The Power of 1%

Maria and Nick are hired at the same time at a $50,000 annual salary. Both contribute 6% of their salaries to their retirement accounts and receive a 3% raise each year. Nick maintains the 6% rate throughout his career, while Maria increases her rate by 1% each year until she hits 15%. After 30 years, Maria would have accumulated more than double the amount that Nick has.


Nick contributes 6% a year to his 401(k). Maria adds extra 1% a year to hers (up to limit). In 30 years, Nick has $351,760. Maria has $757,502.


Assumes a 6% average annual rate of return. This hypothetical example of mathematical compounding is used for illustrative purposes only and does not represent the performance of any specific investment. It assumes monthly contributions and monthly compounding. Fees, expenses, and taxes were not considered and would reduce the performance shown if included. Actual results will vary.


2. Review your tax situation. It makes sense to review your retirement savings strategy periodically in light of your current tax situation. That’s because retirement savings plans and IRAs not only help you accumulate savings for the future, they can help lower your income taxes now.

Every dollar you contribute to a traditional (non-Roth) retirement savings plan at work reduces the amount of your current taxable income. If neither you nor your spouse is covered by a work-based plan, contributions to a traditional IRA are fully deductible up to annual limits. If you, your spouse, or both of you participate in a work-based plan, your IRA contributions may still be deductible unless your income exceeds certain limits.

Note that you will have to pay taxes on contributions and earnings eventually, when you withdraw the money. In addition, withdrawals prior to age 59½ may be subject to a 10% penalty tax, unless an exception applies.

3. Rebalance, if necessary. Market turbulence throughout the past year may have caused your target asset allocation to shift toward a more aggressive or conservative profile than is appropriate for your circumstances. If your portfolio is not rebalanced automatically, now might be a good time to see if adjustments need to be made.

Typically, there are two ways to rebalance: (1) you can do so quickly by selling securities or shares in the overweighted asset class(es) and shifting the proceeds to the underweighted one(s), or (2) you can rebalance gradually by directing new investments into the underweighted class(es) until the target allocation is reached. Keep in mind that selling investments in a taxable account could result in a tax liability. Asset allocation is a method used to help manage investment risk; it does not guarantee a profit or protect against investment loss.

4. Revisit your savings goal. When you first started saving in your retirement plan or IRA, you may have estimated how much you might need to accumulate to retire comfortably. If you experienced any major life changes during the past year — for example, a change in job or marital status, an inheritance, or a new family member — you may want to take a fresh look at your overall savings goal as well as the assumptions used to generate it. As circumstances in your life change, your savings strategy will likely evolve as well.

5. Understand all your plan’s features. Work-based retirement savings plans can vary from employer to employer. How familiar are you with your plan’s specific features? Does your employer offer a matching and/or profit-sharing contribution? Do you know how it works? Are company contributions and earnings subject to a vesting schedule (i.e., a waiting period before they become fully yours) and, if so, do you understand the parameters? Does your plan offer loans or hardship withdrawals? Under what circumstances might you access the money? Can you make Roth or after-tax contributions, which can provide a source of tax-free income in retirement? Review your plan’s Summary Plan Description to ensure you take maximum advantage of all that your plan has to offer.


Save Now or Save Later?

Most people have good intentions about saving for retirement. But few know when they should start and how much they should save.

Sometimes it might seem that the expenses of today make it too difficult to start saving for tomorrow. It’s easy to think that you will begin to save for retirement when you reach a more comfortable income level, but the longer you put it off, the harder it will be to accumulate the amount you need.

The rewards of starting to save early for retirement far outweigh the cost of waiting. By contributing even small amounts each month, you may be able to amass a great deal over the long term. One helpful method is to allocate a specific dollar amount or percentage of your salary every month and to pay yourself as though saving for retirement were a required expense.

Here’s a hypothetical example of the cost of waiting. Two friends, Chris and Leslie, want to start saving for retirement. Chris starts saving $275 a month right away and continues to do so for 10 years, after which he stops but lets his funds continue to accumulate. Leslie waits 10 years before starting to save, then starts saving the same amount on a monthly basis. Both their accounts earn a consistent 8% rate of return. After 20 years, each would have contributed a total of $33,000 for retirement. However, Leslie, the procrastinator, would have accumulated a total of $50,646, less than half of what Chris, the early starter, would have accumulated ($112,415).*

This example makes a strong case for an early start so that you can take advantage of the power of compounding. Your contributions have the potential to earn interest, and so does your reinvested interest. This is a good example of letting your money work for you.

If you have trouble saving money on a regular basis, you might try savings strategies that take money directly from your paycheck on a pre-tax or after-tax basis, such as employer-sponsored retirement plans and other direct-payroll deductions.

Regardless of the method you choose, it’s extremely important to start saving now, rather than later. Even small amounts can help you greatly in the future. You could also try to increase your contribution level by 1% or more each year as your salary grows.

Distributions from tax-deferred retirement plans, such as 401(k) plans and traditional IRAs, are taxed as ordinary income and may be subject to an additional 10% federal income tax penalty if withdrawn prior to age 59½.

*This hypothetical example of mathematical compounding is used for illustrative purposes only and does not represent the performance of any specific investment. Rates of return will vary over time, particularly for long-term investments. Investments offering the potential for higher rates of return involve a higher degree of investment risk. Taxes, inflation, and fees were not considered. Actual results will vary.

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Are you ready for 2021?

Once Christmas is over, we seem to go into a huge cleaning mood.  So as we begin the new year, we want to clean up some as well here at office to better serve you better.

First of all our contact information:






We also have business cell phones.  You may call or text these lines for business related information.

Joey Cason (912)348-5278

Paul Walker (912)348-5647

Thomas Barnes (912)417-3610

Patrick Owens (912)244-8342

Jan Clark (912)417-3745

Should you not be able to get in touch with your advisor, please call Jan Clark at (912)387-0111.  We also suggest when you sent an email, please copy her as well. We get a lot of emails and we do not want your email to get unnoticed!  Your input/questions are very important to us....YOU MATTER!

We will have annual reviews around your anniversary date.  We are making in person appointments at this time but we do respect COVID 19 guidelines.  However; if you are more comfortable with a phone review we can do that as well.  Jan will be calling to set these up.  

She will also begin calling in the next week or so to make all your information is still correct and she will correct as needed.

We dearly appreciate each and every one of you!  Thank you so much for allowing us to be your financial advisor and also our friend!  We pray everyone stays safe, healthy and BLESSED!




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