THE OGDEN VALLEY NEWS Page 18 Volume II, Issue XI 1 June 2000 Have You Considered Opening a Roth IRA Yet? When you’re planning your retirement, don’t overlook one of the most favorable investment accounts available to you today—the Roth IRA. The Roth IRA has been available for only a few years, and it appears almost too good to be true. How many other accounts offer you the following benefits and advantages? Contributions are always available. This means you can withdraw them with no tax consequences or tax penalties. That’s right, your Roth IRA contribution is never tied up. As an account owner, you can withdraw your contributions at any time. All earnings and gains grow without tax. There’s no current income tax on earnings and gains while your investments remain in your Roth IRA. Distributions of earnings and gains are tax-free. As long as five years have passed since the year of your first Roth IRA contribution (the “five-year holding period”) and you’re over age 59, you may take distributions from your account without tax or penalty. (Withdrawals before age 59 may incur a 10% penalty tax.) First-time homebuyers may take a tax-free and penalty-free distribution at any age provided the Roth account has met the five-year holding period. (The lifetime limit for this purpose is $10,000.) If used for qualified higher education expenses, taxable distributions of earnings taken before age 59 are taxable but not subject to the 10% premature distribution tax penalty. There is no required minimum distribution. Your Roth IRA assets con- tinue to grow on a tax-favored basis for your heirs if you do not withdraw funds from your account. Distributions to your beneficiaries are tax free, provided your account meets the five-year holding period. These Roth IRA advantages help you to invest for a comfortable retirement as well as for your other major financial goals. You are eligible for the Roth IRA if you have earned income and you fit either of these descriptions: An individual wage earner who has earned income of at least $2,000. You may make the maximum annual $2,000 contribution if your Adjusted Gross Income (AGI) is less than $95,000. (Individuals with an AGI between $95,000 and $110,000 may make a partial contribution.) A joint filer with an AGI of up to $150,000. If this applies to your situation, you can contribute the $2,000 maximum amount for yourself and $2,000 for your spouse. (Joint filers with AGIs between $150,000 and $160,000 may make partial contributions.) Note: Article Contributed by Jennifer Housley, Financial Advisor Morgan Stanley Dean Witter, Salt Lake City, 800-733-9036 ext. 1980 This article is published for general informational purposes and is not an offer or solicitation to sell or buy any securities or commodities. Any particular investment should be analyzed based on its terms and risks as they relate to your circumstances and objectives. Alan Cox Construction Alan Cox, General Contractor Licensed & Insured SPECIALIZING IN: Custom Homes Framing Victorian Homes Finish Carpentry Handyman Services Free Estimates Phone: 745-2044 Cell: 791-1681 Who Wants to Burn the Flag— Just Ask Permission Submitted by Pat Poulter, Ogden Valley Post 129 For those who want to light Old Glory on fire, stamp all over it, or spit on it to make some sort of statement, I say let them do it—but under one condition, they MUST get permission from two sponsors. First you need the permission of a war veteran. Perhaps a Marine who fought at Iwo Jima? The American flag raised over Mount Surabachi upon the bodies of thousands of dead buddies. Each night spent on Iwo meant half of everyone you know would be dead tomorrow, a coin flip away from a bloody end upon a patch of sand your mother couldn’t find on a map. Or maybe ask permission of a Vietnam vet who spent years tortured in a small filthy cell unfit for a dog, or a Korean War soldier who helped rescue half a nation from communism, or a Desert Storm warrior who repulsed a bloody dictator from raping and pillaging an innocent country. The flag represented your mother and father, your sister and brother, your friends, neighbors, and everyone at home. I wonder what they would say if someone asked them for permission to burn the American flag? Next, you need a signature from a mother - not just any mother but a gold star mother. You need the mother of someone who gave their life for America. It doesn’t even have to be from far away. It could be a policeman, or a fireman, maybe just a common foot soldier as well. When that son or daughter is laid to rest, their family is given one gift by the American people; an American flag. Go on, I dare you to ask that mother to spit on her flag. Away from family, away from the precious shores of home, in the face of overwhelming odds and often in the face of death, the American flag inspires those who believe in the American dream. Those who fought for that flag, those who died, died for that flag. And those who love America love that flag. So if you want to desecrate the American flag, before you spit on it or before you burn it . . . I have a simple request, JUST ASK PERMISSION. Note: Permission to print this article given by the American Legion Department of Utah. Please submit your 4th of July schedules for the June 15th issue by June 5, 2000. You’re Invited To The WEBER COUNTY ANIMAL SHELTER **GRAND OPENING CELEBRATION** 1373 N. 750 w. (north end of the Weber County Fairgrounds) Saturday, June 3, 2000 12:00 p.m. to 2:00 p.m. Free Rabies Clinic – Greg Johnston, D.V.M. Animal First Aid Tips – American Red Cross Free dog/cat food packets distributed – courtesy of Atta Boy Co. County animal licenses sold Tours of the Animal Shelter Refreshments “Blessing of the Animals” – Rev. John E. Norman (1:30 p.m.) Bring your dog to the Pooch Parade for a chance to win prizes (Held immediately after the “Blessing of the Animals.”) Dogs on Leashes/Cats in Carriers Please! For additional information, call 399-8244.