Ryan: Welcome everyone to the Open In Indiana podcast, where we feature the people, places, and events that make Indiana a great place to live, work, and visit. Today, our guest is a local Edward Jones representative in the Indianapolis area named Jennifer Foster-Jackson. Jennifer, how are you doing today?
Jennifer: I’m great, thanks for asking.
Ryan: So, Jennifer, can you tell us a little about what you are able to do for people as a financial adviser?
Jennifer: Sure, I help people avoid the common mistakes that they make when investing. Whether investing on time, investing for the amount of time, or for the amount that they need. So, basically, I help people figure out, first of all, who are you and what’s most important to you, and once I fully understand that, we have proven processes in place that we use to create an individualized plan specifically for you and your family.
Ryan: So, you’re not creating a one size fits all solution, you have a unique strategy that every client can have?
Ryan: And, so can you share with us some examples of ways you’re able to help people in a unique situation?
Jennifer: Sure, so, I’ve been doing a lot of business helping a lot of business owners, specifically entrepreneurs, who have started their own business or have been in business for a while, but have forgotten to pay themselves. I think saving for retirement is paying yourself first, that 1st top 10 or 15% should be for you. It shouldn’t be for the bills or anything else. So, a lot of people have fallen by the wayside, not fitting that into their business practice. So, I helped people in their businesses, I’ve helped people who wanted to retire early. For instance, I have an electrician, electrician engineer, who always wanted to build cabinets. And he’d been in the business for 30+ years, and wasn’t quite to the full retirement age, but wanted a 2nd career. And so we were able to sit down and make that happen for him.
Ryan: And, so, Jennifer, you brought up a really good point, about entrepreneurs not paying themselves first. And, I’d kind of like to focus in on that area, a little bit. Can you tell us a little bit about some of the options for entrepreneurs to be able to plan their retirement?
Jennifer: Sure, so making sure that you, there are different retirement accounts you can utilize, some people aren’t aware, are you an LLC, a C-Corp, an S-Corp? How many employees do you have? Those all are differentiating things. You can put away more than just the $6,000 that the average Joe can in his individual retirement account. So there’s [unsure] IRAs, Simple IRA’s. We really find the right product for you specifically, whether you have only worked for yourself or you have a hundred employees.
Ryan: And so, what got you started in the financial industry?
Jennifer: So, I started in the financial industry because I wish I knew at 18 what I know now as far as investing goes. So, I was helping a friend with his business and needed a new job once my children were older. So, I had run a family business up to that time and had always been fascinated with the markets and numbers, and so it was a natural transition for me to go ahead and I have been licensed since 2000. And a financial adviser since 2001. So, I’ve helped a myriad of people from the young family just starting out, when times are tight, there’s still things you need to think about, like protecting yourself. So, it isn’t just about getting stocks, bonds, and mutual funds for you, it’s taking a look at your whole financial picture. Is your mortgage on point with where other mortgages are in the area, those are the type of things we can help you address.
Ryan: And, so part of that is understanding how quickly you can get your debts taken care of. So that you can make room for retirement planning and accelerate that saving?
Jennifer: Exactly. Or, how you can do both at once.
Ryan: And, so, Jennifer, are there any advantages to someone’s tax scenario when it comes to planning their retirement?
Jennifer: Absolutely, so that’s another phase, you can lower your taxes just by putting away. And if you’re in a really low tax bracket, there are investment vehicles you can utilize that will be tax free when you take them out. Again, those are all things that we take into consideration. Where you are in your life, and where we’re trying to get you.
Ryan: And, so, there’s still time for someone’s 2019 tax year?
Jennifer: Absolutely, if you are looking for a tax break, up to your tax filing date, which for most people is April 15, you can make a 2019 contribution – $6,000, as long as you’ve earned $6,000, and if you’re over 50, you can add another $1,000. So, up to $7,000 and then that can be taken off of your taxes.
Ryan: And, so, Jennifer, what’s a piece of advice that you have for our listeners that they can apply today to get onto the right path of planning for retirement?
Jennifer: I really think, talking to a professional financial adviser to help you figure out where you are, and maybe you can or cannot utilize our services, but at least we can start you on the right path.
Ryan: And, so, if someone wanted to talk to you to learn more about what options are available to them, how would someone reach you?
Jennifer: Absolutely, my home office is at 4625 S. Emerson Avenue, 46203 is the area. Right across from the Beech Grove area. You can call my business number at 317-782-0586, and my associate can schedule a time for us to have a quick telephone interview and if we agreed there is something I can do to help you, then you’ll come in, your first appointment with me is always free. Complementary.
Ryan: Wonderful. Well, Jennifer, thank you so much for being our guest today and thank you everyone for listening. Catch our next episode soon!
Ryan: Thanks for listening to this episode of the Open In Indiana podcast. This podcast is produced by Henry Marketing Group, LLC, DBA Open In Indiana. To listen to more episodes, visit www.OpenInIndiana.com/shows. Thanks for listening!