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Here's a year-end financial check-list
Investing
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As 2014 draws to a close, you may want to look back on the progress you’ve made this past year in various areas of your life — and that certainly includes progress toward your financial goals.
At the same time, you may want to make some end-of-year moves that can close out 2014 on a positive note while paving the way for a productive 2015.
Here are a few such moves to consider:
• Boost your retirement plan contributions. This actually isn’t an “end-of-year” move because you have until April 15, 2015, to contribute to your Roth or traditional individual retirement account for the 2014 tax year. Nonetheless, the sooner you get extra dollars working for you in your IRA, the better. You can put in up to $5,500 to your IRA (or $6,500 if you’re 50 or older) for 2014. If you are self-employed, or run a small business, you also have until April 15 to contribute to a retirement account, such as a SEP IRA or a SIMPLE plan. In addition to helping you build resources for retirement, these types of plans can offer you some tax advantages —  so if you haven’t established a retirement plan yet, consult with your financial and tax professionals
• Sell your “losers.” If you own investments that have lost value since you purchased them, you can sell them before 2014 ends and use the tax loss to offset some capital gains you may have earned in other investments. If you don’t have any capital gains, you can use up to $3,000 of your tax losses to offset other ordinary income. And for a loss greater than $3,000, you can “carry over” the excess and deduct it from your taxes in future years. If you still liked the investment that you sold at a loss, and you want to keep it in your portfolio, you could repurchase it, but you’ll have to wait 31 days to avoid violating the IRS’ “wash sale” rules. Keep in mind that these suggestions only apply to investments held outside your employer-sponsored retirement account; you can’t take a tax deduction on capital losses in a 401(k) or similar plan.
• Evaluate your 401(k) investment mix. You may be able to adjust the investment mix in your 401(k) as often as you like. So when evaluating your 401(k), make sure your holdings aren’t concentrated in just a few investments, and try to determine if your portfolio is still appropriate for your risk tolerance — not too aggressive or too conservative. Also, if your plan offers a “Roth” option, consider taking advantage of it — with a Roth, you won’t be able to deduct your 401(k) contributions from your taxes, but once you retire, you won’t be taxed on your withdrawals.
• Review your insurance coverage. If you’ve experienced any changes in your life in 2014 — new spouse, new child, divorce, new job, etc. — you may need to review your life-insurance coverage to make sure that it’s still sufficient for your needs and that you have the correct beneficiaries in place.
By making these and other moves, you can say a fond farewell to 2014, knowing that you’ve done what you could to help bolster your financial position — for 2015 and beyond.
Edward Jones, its employees and financial advisors are not estate planners and cannot provide tax or legal advice. You should consult your estate-planning attorney or qualified tax advisor regarding your situation.

Evans is a financial advisor at Edward Jones in Richmond Hill. This article was written by Edward Jones for use by your local Edward Jones financial advisor.

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Record April boosts Savannah's container trade at port
GardenCityTerminal
The Port of Savannah moved 356,700 20-foot equivalent container units in April, an increase of 7.1 percent. - photo by Provided

The Georgia Ports Authority's busiest April ever pushed its fiscal year-to-date totals to more than 3.4 million 20-foot equivalent container units (TEUs), an increase of 8.8 percent, or 280,000 TEUs, compared to the first 10 months of fiscal 2017.

"We're on track to move more than 300,000 TEUs in every month of the fiscal year, which will be a first for the authority," said GPA Executive Director Griff Lynch. "We're also anticipating this to be the first fiscal year for the Port of Savannah to handle more than 4 million TEUs."

April volumes reached 356,700 20-foot equivalent container units, up 7.1 percent or 23,700 units. As the fastest growing containerport in the nation, the Port of Savannah has achieved a compound annual growth rate of more than 5 percent a year over the past decade.

"As reported in the recent economic impact study by UGA's Terry College of Business, trade through Georgia's deepwater ports translates into jobs, higher incomes and greater productivity," said GPA Board Chairman Jimmy Allgood. "In every region of Georgia, employers rely on the ports of Savannah and Brunswick to help them become more competitive on the global stage."

To strengthen the Port of Savannah's ability to support the state's future economic growth, the GPA Board approved $66 million in terminal upgrades, including $24 million for the purchase of 10 additional rubber-tired gantry cranes.  

"The authority is committed to building additional capacity ahead of demand to ensure the Port of Savannah remains a trusted link in the supply chain serving Georgia and the Southeast," Lynch said.

The crane purchase will bring the fleet at Garden City Terminal to 156 RTGs. The new cranes will support three new container rows, which the board approved in March. The additional container rows will increase annual capacity at the Port of Savannah by 150,000 TEUs.

The RTGs will work over stacks that are five containers high and six deep, with a truck lane running alongside the stacks. Capable of running on electricity, the cranes will have a lift capacity of 50 metric tons.

The cranes will arrive in two batches of five in the first and second quarters of calendar year 2019.

 Also at Monday's meeting, the GPA Board elected its officers, with Jimmy Allgood as chairman, Will McKnight taking the position of vice chairman and Joel Wooten elected as the next secretary/treasurer.

For more information, visit gaports.com, or contact GPA Senior Director of Corporate Communications Robert Morris at (912) 964-3855 or rmorris@gaports.com.

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