WDL-2019-03

LOCAL EVENTS

To-do list Your ultimate local guide for events, business openings, meetings andmore in the months of March and April

MARCH 15-16 Find treasures at annual community garage sale The Shenandoah Civic Club sponsors a biannual community garage sale for city residents, with signs posted throughout town to direct customers to participating blocks and homes. Free. 8 a.m.-3 p.m. Locations throughout the city. www.shenandoahtx.us

MARCH 16 Fish in the 12th annual Creekwood FishingDerby Participants in the derby, sponsored by The Woodlands Professional Firefighters Association, can earn prizes for catching fish. 8-10 a.m. Free. Creekwood Park, 3383 S. Panther Creek Drive, The Woodlands. 281-516-7348. www.thewoodlandstownship-tx.gov MARCH 16 Celebratewith the annual Shamrock Shindig event Attendees can celebrate St. Patrick’s Day with Irish dancers and bagpipers, food trucks, children’s activities and artisan vendors. Noon-6 p.m. $5. Town Green Park, 2099 Lake Robbins Drive, The Woodlands. 713-594-3165. www.inspireprod.com

MARCH 23 Clean up township parks during EarthDay GreenUp Members of the community can partici- pate in cleanup efforts before joining an Earth Day party. 8-11 a.m. (cleanup), 11 a.m.-1 p.m. (celebration). Free. Town- ship parks. 281-210-3800. www.thewoodlandstownship-tx.gov

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Find more or submit Woodlands events at communityimpact.com/wdl-calendar . Event organizers can submit local events online to be considered for the print edition. Submitting details for consideration does not guarantee publication.

See a full list of events at communityimpact.com/events.

WORTHWHILE CONVERSATIONS RETHINKING ROTH IRAS…

ROTH IRAS ARE NOT EXACTLY NEW. WHAT IS THERE TO “RE-THINK?” More to the point: Some people should re-think the use of Roth IRAs. Start by remembering two key differences between Roth IRAs and traditional IRAs. First, money contributed to a Roth has already been taxed. BUT, if you conform to the rules, everything you ever withdraw, including earnings that might be many times what was contributed, is completely tax-free. Second, unlike traditional IRAs, there is NO requirement to withdraw minimum distributions from a Roth IRA after reaching age 70-1/2. YOU SAID “SOME PEOPLE” MIGHT NEED A RE-THINK. WHO SPECIFICALLY? After 48 years of working with clients, we’ve now advised through the full cycle of IRA drawdowns for some of our longer-tenured families. Oftentimes, we encounter meaningful balances left in these IRA accounts when the estate passes to the next generation. Those clients were well enough positioned for retirement that they did not “need” all the funds in their IRA. That is the opportunity. SO, HOW DOES THAT CONNECT TO THE ROTH IRA? Phillip Hamman, CFP ® , CFA, chairs our Wealth Planning Committee, a group of our professionals with multiple professional backgrounds, including attorneys and CPAs.

He summarized the connection in this way: “Clients approaching or just starting retirement may forecast that IRA accounts will not be fully withdrawn during their lifetime, leaving a balance for heirs. Until seeing the numbers, it is difficult for them to imagine the potential wealth enhancement from a Roth conversion. The strategy of converting all or a portion of a traditional IRA and paying some tax now is counter-intuitive, but the savings accumulated over many years can be substantial.” Each person’s situation is unique, and running the numbers is critical. WHAT ARE THE PITFALLS? Make sure you have experienced and well- trained eyes preparing the analysis. This is an area where it is essential to rely upon an advisor who is 100% committed to the fiduciary business model, which puts the client’s interest first. Do not rely on “analysis” from anyone with a product selling motivation. Our experienced team of financial professionals are ready to sit down at our office in The Woodlands to visit about the potential.

Lauren Rich, CFP ® , and, J. Harold Williams, CPA/PFS, CFP ® , weigh the differences between traditional IRAs and Roth IRAs, and the importance of having a team of professionals to determine the right choice for you.

Linscomb & Williams is not an accounting firm.

For more information, or a copy of our Form ADV, Part II, with all of our disclosures, call Craig Ivy or Larry Napier at 281 841 0707, or visit www.linscomb-williams.com.

1925 Hughes Landing Blvd., Ste. 200 The Woodlands, Texas 77380 281 841 0707 www.linscomb-williams.com

Community Impact Newspaper • communityimpact.com