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Show .'VV'.. v.i'''"V &- .if - ;;. . $ i1? i,' J ''. ftyfcwiflEif Learn How The Roth IRA Can Make Working For Retirement Easier by Peter Cummins Senior Viet President Hartford Life Insurance Company (NAPS) Working towards retirement haa suddenly gotten ment savings you accumulate, The Roth IRA, slated to taka fcle-- t on Jan. 1, is being hailed as a Great opportunity for practically everyone who needs to save for retirement. Many people will enjoy new, powerfiil tax advantages that can boost their longterm retirement savings and will be able to use ths new IRA with a an assumed annual investment, any one year cannot exceed return of 8 percent The current $2,000 per individual. tax rata is 28 percent and drape to The Roth IRA also has some 25 percent in retirement After 35 important advantages for those years of accumulation, the original who an age 70V4 or older. You investment yields $128,206 after can avoid taking the required taxes in a traditional IRA comminimum distribution from your pared to $147,853 in the Roth traditional IRA by converting to a IRA with no tax payments. Roth IRA. And, if you have Consider Con verting earned income and want to keep To The Roth ERA putting money into an IRA, the But what should you do if you Roth is for you. already own an existing IRA? Check The Roth IRA Checklist Consider converting to the Roth If youre contemplating taking IRA if you dont need the money advantage of this new retirement for at least five years and you planning tool, but you're still not dont expect your tax bracket to sure if iti for you, ask yourself if one or more of the following situachange appreciably in retirement especially over several years. How big of a difference? Lets compare the Roth IRA to a traditional IRA in which both start with a $10,000 initial contribution and wide range of financial products. For instance, Hartford Life, one of the nations leading financial services and insurance companies, will offer its popular mutual funds and variable and fixed annuities through the Roth IRA. Hartford Life is urging everyone to learn as much as they can about the new IRA to determine if it can hplp them reach their retirement goals. Although similar to its older You can convert your existing IRA to a Roth IRA providing you first pay taxes on any taxable amounts of principal or interest If you convert in 1998, the tax payments can be spread over four yean and can be paid with money from sources other than your Roth IRA In addition, you can also convert assets from qualified plans such as 40100s, 457s or 4030)s to the Roth IRA. However, you must transfer qualified plan assets into a traditional IRA before making the conversion. You an eligible to make a conversion to the Roth IRA providing the adjusted grass income earned by you or you and your spouse is less than $100,000 and you an filing jointly. Ones you convert, you cannot go back, so be absolutely sun you look befon you leap. Another similarity with traditional IRAs: Annual contributions to the Roth IRA an limited to $2,000 per individual. However, the maximum contribution for the Roth IRA is much higher than the traditional version. The maximum contribution ia phased out for married couples with joint returns and adjust-e- d grass incomes (AGI) of between cousin, the original individual retirement account (IRA), the Roth IRA has soipe important ferences. Undersfonding those ferences and how difdif- they apply to your financial situation can make a dramatic impact on how comfortably you live ia retirement Like its cousin, contributions to the Roth IRA accumulate tax deferred. Deferring taxes on income from savings and investments can make a big difference inn how much you save in the long run. More Than No Taxes At Withdrawal Unlike its cousin, contributions to the Roth IRA are nondeductible and made with after-tadollars, e but can be withdrawn five years after the initial contrie bution. Withdrawals are Tax-Deferr- ed . : ; - tax-fre- tax-fre- ; agcllB TiSummi(Countfl.Bce providing you are age 69V4, disabled or deceased, or take out no more than $10,000 to purchase your first home. e The withdrawal feature is what makes the Roth IRA so dynamic. Not having to pay taxes on your investment earn-ings as opposed to merely deferring payment can make a huge difference in how much retire- - ' tax-fre- maximum contribution ia phased out for AGIa of between $95,000 and $110,000. In addition, the sum of all annual contributions to both the Roth IRA and traditional IRAs in tions apply: You're young and have 15 or 20 years until retirement; You expect your tax bracket to be the same or higher in retirement; You have assets in a nonde- ductible IRA or qualified plan; You expect to take a distribution from a qualified plan in the near future; ' You're going to be 70)4 years old in 1998 and want to avoid having to take the required minimum distribution from your IRA or You're 70 years old or older, have earned income, and want to keep putting money into an IRA Find Out If The Roth Ia Right For You Still interested? Then take the next step by contacting your financial advisor about this latest bit of largess from your Uncle Sam. The sooner you act, the longer your money will be able to grow and the better your prospects for a comfortable retirement If youd like more information about the Roth IRA and how it can help you prepare for retire- ment, write Peter Cummins, senior vice president, Investment Products Sales and Marketing, $150,000 and $160,000. If youre Hertford Life Insurance Co., P.O. married and filing separately, you Box 2999, Hartford, CT 06104-.299Hartford Life ia Hartford an ineligible to purchase a Roth .. IRA For all other instances, the life, Inc., and its affiliates. 9. ; 0 Easy Entertaining The Of Casual Joy (NAPS) In our busy lives, few social occasions are as rewarding as a casual meal at home with good friends or with people wed like to know better. Don't be put off by the idea of entertaining because its too much work or that you dont have room n for a dinner. The fun and camaraderie of casual entertaining can far outweigh the effort it takes. The thought that you made any effort at all makes most people feel good and it is the thought that counts. To make it easy on yourself, consider the following tips for easy entertaining: Keep the group small. Choose menus that dont require more than an hours preparation, or select main dishes you can make ahead of time and reheat Entertaining RmIi OMiriny of D$V Goommmf Pood Coolor Sure to please and eaey to make, try these delicious Grilled Vegetable Burritos. GRILLED VEGETABLE BURRITOS Rely on quality convenience products to lighten your work load. Items such as canned pineapple are easy to keep on hand and .ready to use at a moment's notice. Pineapi a adds a completely different sweettart flavor to a variety of dishes. You can swirl drained crushed pineapple, curry powder and chopped chives into softened cream cheese for an appetiser spread, or turn canned pineapple into a cake or ice cream topping for dessert Don't worry about having a squeaky clean house. As long as its neat, thats fine. Lower the lights and use lots of candles and nobody will notice the dust on the bookshelves. Even a simple bunch of flowers makes the table festive. This delicious Grilled Vegetable Burritos recipe is easy to make and sure to please. Serve with tossed salad, blue corn chips, guacamole and a refreshing tropical iced tea. Prep: 20 min. Makes: 8 servings can (20 ox.) Dolx Pineapple Chunks 12 cup light sour cream 14 cup finely chopped 1 cilantro tablespoons olive or vegetable oil 2 cloves garlic, finely chopped 12 medium eggplant, peeled 3 and julienne-sliceDole Red or Green Bell Pepper, cut into julienne d 1 slices medium succhini, thinly sliced 1 medium red onion, thinly sliced 6 flour tortillas 3 cups (12 ox.) shredded pepper Jack cheese, or Monterey Jack cheese 1 h) Drain pineapple; reserve 14 cup juice. Stir sour cream, reserved juice and cilantro in small bowl; set aside. Stir oil and garlic in another small bowl; set aside. Arrange pineapple, eggplant bell pepper, succhini and onion on lightly greased baking sheet; brush with garlic mixture. Broil for 7 to 10 minutes brushing often with garlic mixture, until vegetables are tender-cris- p. Reduce oven temperature to 350F. Divide pineapple and veg- etables evenly among each tortilla; top with cheese. Fold tortilla sides over; roll up. Place burritos on baking sheet Bake 8 to 10 minutes or until cheese melts. Serve burritos with sour cream mixture. Garnish with salsa and sliced avocado, if desired. Per serving: 480 calories, 27g fat (llg sat.), 67mg cholesterol, 569mg sodium, 43g carbohydrate, 20g protein Subscribe To The Summit County Bee A Perfect Pairing: Puerto Rican Rum And Cappuccino (NAPS) Whether its prosciut- to and melon or smoked salmon and capers, certain flavors' are meant to go together. A hot, frothy cappuccino calls for none other than the finishing touch of Puerto Rican rum. Aged to perfection for at least one year by law, Puerto Rican Rum adds flavor and complexity to this steaming, spirited coffee drink. For the perfect marriage of the smooth and robust, try this aromatic mix of rum, hot coffee, milk, whipped cream and cinnamon: PUERTO RICAN RUM CAPPUCCINO (makes 1 serving) of Puerto Rican l'i ounces dark rum 1 teaspoon augar 2 cups hot, strong coffee Steamed milk Whipped cream Ground cinnamon Combine rum and sugar in mug. Add equal parts coffee and steamed milk. Top with cream and cinnamon. For more great recipes ruma tram Puerto Rico, write to Puerto Rican Rums: From Drinks to Desserts, 666 Fifth Avenue, New York, NY fea-turi- 10103-159- 9. me teamen PEOPLE SERVING PEOPLE |