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 Mason Christian recognized as scholarship recipient 



Mason pictured with  parents Chris and Krista Christian

Congratulations to Mason Christian, Senior at Frontier High, as this year's JL Waite Financial Scholarship winner. Mason was chosen from many qualified candidates to be awarded the 12th annual award of  $200.  Mason has had an overall GPA of 4.25 and has been an active member of Frontier High's  Interact, which he provided over 50 hours of volunteer service to others including elementary schools carnivals, STEM nights, ushering at the Bakersfield Symphony and has helped raise money for the Boys and Girls Club and Salvation Army. In addition, Mason has been involved with Interact, Spanish Honor Society and Link Crew leader. Along with being very involved in various school activities he has also found time to tutor children at local elementary schools along with participating in soccer both as a player and referee, putting in over 80 hours. As an Honors student, Mason plans to attend Cuesta College in San Luis Obispo and study Biology in the fall.
 

  CARES Act allows up to 100%
Need money for summer? Use your 403b

     With school year as we know it  over, it's time to start thinking about summer. In addition to being a time for relaxation and time with family, it can also be a stressful time with no income. For those not paid year-round summer can be difficult. Some set aside money each month out of their pay check; others work during the summer; while others simply have to try to get by on less. 
     Another consideration would be to use the loan provision built into your 403b to borrow from yourself during the summer. The advantages are reduced taxes, higher interest on your money, and the ability to build your retirement a lot faster. Also,  with the passage of the CARES Act, you are now able to borrow up to 100% of your cash value instead of the normal 50% if you or a family member has been directly or indirectly affected by COVID-19. If you're not already participating in the summer pay program using your 403b let us show you how and the benefits that you, too can receive.

...Need money this summer? Let us know
If you are planning on borrowing from your 403b for this summer please allow about 3-4 weeks for processing. In other words, if you need the funds by August 1 we would need to make the request by July 1.  Call or email us and we will let you know how much you have available.





Owe taxes? You now have until July to pay (or cut) them 

If you owe taxes, due to the Coronavirus Relief you now have until July 15 to pay. also, you can possibly still cut your taxes for 2019 by contributing to an IRA by then- up to $6,000 (under age 50) and $7,000 if 50 or older. Keep in mind, however, that if you already have a retirement plan through work (which school employees do) that there are income limits as far as how much can be deducted. Contact us for more information and to see if you qualify.

Earn a 5% interest bonus on each deposit for 8 years!

If you're not already getting a 5% interest bonus on your money, now may be the time to start. Introducing the Rewards Growth annuity which credits you a 5% interest bonus on each deposit you make into your 403b, IRA ,ROTH, or SEP IRA. You will also be credited additional interest based on the S&P 500 and a fixed interest account.

Taking the "golden handshake"  

This time of year many school employees who are close to retirement are offered the "golden handshake." for some that "handshake" can equate to thousands of extra dollars. It may be through a Defined Benefit Supplement offered through CalSTRS or PERS or a bonus offered through the school district. One option often is to take a withdrawal or roll it over into a 403b or other "qualified" account. By taking a withdrawal you will pay a hefty amount in taxes as it will be considered as "ordinary income" and added to whatever other income you have earned. The better option is to roll it into  your 403b. Don't  have a 403b? That's OK. We can help set one up for you.
 

THE NEW MOBILE APP AND CUSTOMER WEBSITE ARE HERE!
Go to http://www.nationallife.com or download from the App store

With the new National Life mobile app and customer website,
you can easily:

  •   Access your policy details and keep an eye on your balances
  •   Make policy payments and pay off loans
  •   Set up and manage auto payments
  •   Sign up for account alerts
  •   Access your agent’s contact info and more
Waite a minute 
By Jim Waite

     The other day I was waiting in line at the Post Office when a man behind me said "you need a hair cut!" Feeling a bit unnerved that a total stranger would announce the obvious, I turned around loaded for bear when he pulled out a business card and said "I'm a barber and open for business." My defenses went down and thanked him as I was definitely in need of a good haircut after months without one. I hadn't sported this hair style since high school in the mid 70's and to be quite honest, it has felt kind of nostalgic. 
     With everything going on today it feels like we're jumping from playing one game after another. First, Solitaire, where we have felt alone and in isolation from the rest of the world to Family Feud where after months of hanging with kids 24/7, the "togetherness" gig has started to wreak havoc on some family ties.  The "Murder Hornets" hype turned out to be a lifeless drone and now with all the rioting, looting and total mayhem all over the country it's off to playing Mortal Combat or level 6 of Jumanji. It is sad and unfortunate that a man was killed, but does that warrant trashing entire cities and engaging in criminal activity? My point is all of us are stressed and trying to navigate uncharted waters. The tide rises and just when  we feel like we're starting to drown, someone hopefully tosses us a life preserver and not an anchor. It's easy to blame everything on one person, one group, one event, one statistic. Martin Luther King said it best: "Darkness cannot drive our darkness: only light can do that. Hate cannot drive out hate: only love can do that." It's easy to exchange an evil eye for a more evil glare, someone who hurt you to hurt them even more, or someone who offends you to to spread lies and hurtful words or actions against them.  It takes some inner courage and restraint to not only look the other way but to actually befriend them. 
     No doubt we are living in strange and difficult times. Every day or week it seems that there's a new adventure for us to take on.  Some call them trials, obstacles or insurmountable challenges. Others look at them as an opportunity to be strengthened or gain a greater appreciation for those things we previously took for granted. I guess for some the glass is half empty for others,  half full. It's just a matter of perspective and attitude. Oftentimes things that happen we have no control over.  What we do have control over is how we react to it. 
     So with summer here take time to enjoy life. Get outside for a walk, a run, a bike ride. Go the extra mile. Take off to the beach. Enjoy the ocean sounds and the feel of the tide going in and out with sand massaged between your toes. In spite of what's going on in the world and the challenges we face, take time to take in all that's good. There's plenty of it around if you look for it. And next time some stranger tells you that you need a hair cut smile and ask him if he knows where to find a good barber. 


     Our NAP Program simply stands for Name,  Address (email), Phone number.  You give someone a flyer or one of our business cards and they contact us or you simply give us their Name, Address, Phone number (NAP). It is our way of saying thanks for referring someone to us. For each referral that we actually meet with we will give you $25. That's it! They don't have to buy anything or invest, just simply meet with us. Refer 8 people to us or one referral to our mortgage affiliate upon close of escrow and get $200!

More ZOOM seminars coming soon 
 
By now most of you are aware of ZOOM as an online way to communicate with others and pass on instruction and helpful ideas. School administrators use it to communicate with staff, teachers use it to communicate with students and even churches use it to communicate with their congregations. We have already had some Zoom meetings and will be having more  ZOOM financial seminars coming soon. Stay tuned. We also welcome your topics of discussion.

It's time to get a life
 

 Recently I was talking to a client and she asked if I offer life insurance. I thought by now everyone would know that in addition to offering 403b's, IRA's, Roth IRA's and other savings plans for the past 24 years that yes, we have also offered life insurance. Life insurance these days not only offers a tax-free death benefit to your family upon your death, but also tax-free retirement income to you while you live! In addition, it includes long-term care and critical illness (heart attack, cancer, stroke, etc.) benefits at no extra charge!


Stock market crashes? you don't lose a dime!

With the volatility of the stock market, what if you could participate with the market and never lose a dime? The stock market has skyrocketed to record highs the past couple of years, then all of the sudden fallen to record lows. Over the past 24 years that I've been offering retirement plans no one has ever lost. Will Rogers once said "I'm not as concerned about the return on my investment as the return of my investment." Why not know that you'll be getting a certain amount when you retire rather than hoping you'll have a certain amount upon  retirement?  I've found over the years that most people want three things: 1) That their money is safe and secure, 2) that it will be there when they retire and 3)Be enough to live on- not worrying about outliving their money.  
 
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Contact Us
JL Waite Financial Group
P.O. Box 11791
Bakersfield, CA 93389

661-979-0945
800-566-4047

jlwaite@gmail.com
www.jlwaite.com
 

 






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JL Waite Financial Group · P.O. Box 11791 · Bakersfield, CA 93389 · USA

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