Abacoa & Alton Neighbors - January 2022

10 Abacoa &Alton N E I G H B O R S | J a n u a r y 2 0 2 2 Depending on your gift recipient, different types of investment gifts can help make their futures brighter. Your loved ones can continue to reap the rewards of several different kinds of investments for years to come. There are a few ways you can gift an investment to your loved ones, such as savings bonds, educational plans, stocks, and even retirement or savings account contributions. Here’s how to make an impact on a loved one. SAVINGS BONDS Savings bonds have long been a favorite gift from grandparents to new grandchildren because these are backed by the full faith and credit of the U.S. government; thus they have a low risk of losing value. There are two types: Series EE and Series I. Series EE can be purchased electronically in $25 increments and earn a fixed interest. Series I can be purchased electronically or as paper bonds, with a variety of increments also starting at $25. Series I bonds pay a variable rate of interest based on the bond’s interest rate and annual inflation adjustments. Both have 30-year terms. EDUCATIONAL PLANS Gifting a college savings plan like a Coverdell Educational Savings Account (Coverdell ESA) or a 529 Plan can help you invest to help your chosen beneficiary reach their education goals. A Coverdell ESA allows family members to gift up to $2,000 a year. Contributions can grow tax deferred and distributions are tax-free when used for qualifying expenses. A 529 plan allows anyone, not just family members, to invest in education. Contributions aren't tax-deductible, but funds in the plan grow tax-deferred, and withdrawals are EXPERT CONTRIBUTOR COME VISIT YOUR LOCAL BRANCH 14235 US Highway 1 Juno Beach, FL, 33408 Toll Free: 888-796-6887 Roosters Barbering and Men’s Grooming Center provides an authentic bar- bershop experience in a modern, upscale, and unpretentious environment. Book your appointment online at www.RoostersMGC.com Phone:(561) 513-6138 Come Visit Us at: 4550 DONALD ROSS RD, #102 PALM BEACH GARDENS, FL 33418 The BEST GIFT to Usher in the New Year, is the Gift of Investment Submitted by Salena Wilhoit