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News from Garrett at Edward Jones

At Edward Jones, we are committed to helping individuals achieve their personal investment goals through investments tailored to their unique needs. My personal commitment to those I serve includes always striving to increase my knowledge of finances, investment strategies and the economic environment.

That's why I am pleased to announce that I have successfully completed the Chartered Retirement Plan Counselor, or CRPC®, Professional Education Program from the Denver-based College for Financial Planning. Only those who complete the program, pass a final exam and sign a code of ethics and disclosure form may earn the CRPC® designation.

This advanced training program focuses on the pre- and post-retirement needs of individuals. Study topics include principles of retirement planning, sources of retirement income, employer-sponsored plans, deferred compensation plans, plan distributions, investment strategies during retirement and planning for incapacity, disability and long-term care.

Armed with the valuable knowledge this training provides, I believe I'm better equipped than ever to help you achieve your long-term financial goals.

I would enjoy sharing with you the information I've learned. If you would like to discuss any of the topics I mentioned please let me know.


Garrett T Maddox, CRPC®

Financial Advisor

Edward Jones
1020 Bay Area Blvd Suite 106
Houston, TX 77058
(281) 280-0534


Women Must Know What to Expect from Social Security

Everyone needs to be aware of the financial resources they will have available in retirement. But if you’re a woman, you must be particularly diligent, for a variety of reasons. And that means you’ll need to know just what to expect from Social Security.

Why should you, as a woman, pay extra attention to Social Security? For one thing, women often take time off from their careers to care for children and older parents, so they may accumulate less money in employer-sponsored retirement accounts, such as 401(k) plans. And women still live several years longer than men, according to the Census Bureau.

Clearly, then, you need to get the most you can from Social Security. To do so, you will need to consider at least three key factors:

  • Age — You can start taking retirement benefits as early as 62, but your benefits may be reduced by up to 30% unless you wait until your “full retirement age,” which is likely 66 or 67. If you delay taking benefits until 70, your monthly benefits may be up to a third larger than if you started collecting Social Security at your full retirement age. You’ll need to weigh a variety of factors — such as family longevity, income from employer-sponsored retirement plans and your anticipated financial needs — in determining when you should start taking Social Security.
  • Employment — If you work while receiving Social Security benefits before you reach full retirement age, your benefits will be reduced by $1 for every $2 you earn over an annual limit, which generally increases each year. In the year you reach full retirement age, your benefits will be reduced by $1 for every $3 you earn over the limit before your birthday. But once you reach full retirement age, your benefits will no longer be adjusted for earned income.
  • Marital status — As a spouse, you can generally receive Social Security payments based on your own earnings record or collect a spousal benefit of up to 50% of your husband's Social Security benefit. The benefit will be reduced if you start taking it before your full retirement age. To start collecting Social Security spousal benefits, you must be at least 62 years old and your husband must also have filed for his own benefits. If you’re divorced, and you’re not currently married, you can generally receive benefits on your ex-husband’s Social Security record, as long as you meet certain conditions. (For example, you had to have been married to your ex-husband for at least 10 years.)

No matter how much Social Security you ultimately receive, it’s almost certainly not going to be enough to provide all the income you’ll need. So during your working years, try to contribute as much as you can, for as long as you can, to your IRA and your 401(k) or other employer-sponsored retirement plan. At the same time, look for other investment opportunities. And when you reach retirement, create a withdrawal strategy that allows you to stretch out the income you receive from your investments for as long as you can.

By saving and investing as much as possible during your working years, maximizing your Social Security payments and carefully managing your financial assets when you’re retired, you can help improve your chances of enjoying the retirement lifestyle you deserve.

This information is believed to be reliable, but investors should rely on information from the Social Security Administration before making a decision on when to take Social Security benefits. It is general information and not meant to cover all scenarios. Your situation may be different, so be sure to discuss this with the Social Security Administration prior to taking benefits.


This article was written by Edward Jones for use by your local Edward Jones Financial Advisor.


Garrett T. Maddox

1020 Bay Area Blvd, Suite 106

Houston, TX 77058

Telephone 281-280-0534





Edward Jones Opens New Location

We are pleased to announce that our Edward Jones office is now officially open at its new location.

1020 Bay Area Blvd
Suite 106
Houston, TX 77058

The office is in the Zeta building on Bay Area Boulevard between El Camino Real and Buccaneer Lane.

Our phone number has also changed. It is 281-280-0534.

Thank you for your business. We look forward to talking with you soon.


Garrett T Maddox

Financial Advisor


Prepare for Health Care Costs in Retirement


As you save and invest for retirement, what are your ultimate goals? Do you plan on traveling the world? Purchasing a vacation home? Pursuing your hobbies? People often think and plan for these costs. Yet, too often, many of us overlook what potentially could be a major expense during our retirement years: health care. By preparing for these costs, you can help yourself enjoy the retirement lifestyle you’ve envisioned.

Many of us may ignore the impact of health care costs because we just assume Medicare will pay for everything. But that’s not the case. In estimating health care costs during retirement, you may find that $4,000 to $6,000 per year per person for traditional medical expenses is a good starting point, although the amount varies by individual. Furthermore, this figure does not include the costs of long-term care, which can be considerable. To illustrate: The national average for home health aide services is nearly $45,000 per year, and a private room in a nursing home is nearly $84,000 per year, according to a recent survey by Genworth, a financial security company.

So what can you do to help cope with these costs? Here are a few suggestions:

  • Estimate your costs. Try to estimate what your out-of-pocket health care costs might be, based on your health, your age at retirement, whatever supplemental insurance you may carry and other factors.
  • Know the key dates. Things can change in your life, but try to identify, as closely as possible, the age at which you plan to retire. This will help you spot any coverage gaps before you become eligible for Medicare at age 65. Also, be aware of the seven-month window for enrolling in Medicare, beginning three months before your 65th birthday.
  • Review your insurance options. Medicare-approved insurance companies offer some other parts to Medicare, including Part D, which covers prescription drugs; Medigap, which covers gaps in Parts A and B (in-hospital expenses, doctor services, outpatient care and some preventive services); and Part C (also known as Medicare Advantage, which is designed to replace Parts A, B, Medigap and, potentially, part D). You have several options for Part D, Medigap and Medicare Advantage, each with varying coverage and costs, so choose the plans that best fit your needs. (To learn more about Medicare and supplemental insurance, go to www.medicare.gov.)
  • Develop a long-term care strategy. To meet long-term care costs, you could self-insure or purchase insurance coverage. To learn about long-term care insurance solutions, contact your financial advisor.
  • Invest for growth and rising income. Health care costs typically rise as you move further into retirement, so make sure that a reasonable portion of your assets is allocated to investments with the potential for both growth and rising income.
  • Think about health care directives. If you were to become incapacitated, you might be unable to make health care decisions — and these decisions may affect not only your quality of life but also your financial situation, and that of your family. Talk to your legal advisor about establishing a health care directive, which allows you to name someone to make choices on your behalf.

Health care costs during your retirement may be unavoidable. But by anticipating these costs, you can put yourself in a position to deal with them — and that’s a healthy place to be.

This article was written by Edward Jones for use by your local Edward Jones Financial Advisor.


Garrett T. Maddox

100 E. NASA Parkway, Suite 20

Webster, TX 77598

Telephone 281-332-3053