Punxsutawney Phil was roused from his slumber Wednesday to make his prediction on our upcoming weather. You realize, of course, that he is correct about 39 percent of the time; nevertheless, his appearance is a festive occasion and a time for fun and frolic in that Pennsylvania town each year--the 136th annual celebration.
Are you expecting a tax refund this year? If so, what will you do with it?
I have been appeased; I finally was exposed to snow last Wednesday night. Lovely big fat flakes of fluffy snow glided down for a few minutes to delight the eye but quickly disappeared. It was enough to delight my need for the beauty of nature to overwhelm, so now I can wait for next winter for more. Snow! The memory raced through my mind of standing in a snowstorm with tongue extended to catch those beautiful bits of ice crystals as the flakes floated gracefully down. Better still, the memory of eating snow ice cream that my mother concocted from that white stuff- pure joy by the spoonful! Kids remember the “fun” stuff and have little concern about possible problems, but with age comes the realization that snow can cause slips and falls- not a good scenario for older adults! So, be extremely careful if you must get out during inclement weather. Viewing a beautiful winterscene is best done through your window from within the warm, toasty house.
If you’re a certain age, you’ll need to withdraw money from some of your retirement accounts each year. But in 2022, the amount you must take out may be changing more than in other years – and that could affect your retirement income strategy. Here’s some background: Once you turn 72, you generally must start taking withdrawals, called required minimum distributions, or RMDs, from some of your retirement accounts, such as your traditional IRA and your 401(k) or similar employer-sponsored plan. Each year, your RMDs are determined by your age and account balances. This year, the life expectancy tables used by the IRS are being updated to reflect longer lifespans; This may result in lower annual RMDs than you’d have to take if this adjustment hadn’t been made.
213 E. Main St.
PO Box 577
Olney, Texas 76374
Phone: (940) 564-5558
Fax: (940) 564-3992
