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MAY 2024
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Annuities offer investors a variety of potential benefits, and not all of them are obvious. One little-known advantage of some income annuities, for example, is that they offer investors a chance to expand their nest egg without increasing their Required Minimum Distribution (RMD). Amid rapid growth in annuities, more insurance companies are offering bonus annuities with guaranteed growth to entice buyers to choose an income annuity. For example, in a recent offering by one insurance company, the buyer would receive a 30% bonus on their initial investment and a 12% guaranteed return. If you buy a $100,000 income annuity offering a 30% bonus, the starting value of your annuity would be $130,000, positioning you for a more considerable overall investment gain. How Some Annuities Deliver a Hidden Tax Advantage Maximize Your Nest Egg This may seem too good to be true. And in one way, it is. Investors in bonus annuities are not fully vested from the start. If you change your mind and surrender the annuity early, you typically will not receive any bonus funds when you cash out. The bonus is only available if you take income from the annuity as designed. An income annuity is set up to work similarly to a pension by providing a steady income stream for life. The offer of cash upfront serves as an incentive to investors to stick with the original terms of the annuity. However, it is important to remember that the bonus on an income annuity is free money flowing into your income bucket and comes with a hidden tax benefit. The IRS doesn’t use any bonus money to calculate your RMD (the required annual withdrawal from a 401(k) plan, an IRA, or an IRA annuity, “It is important to remember that the bonus on an income annuity is free money flowing into your income bucket and comes with a hidden tax benefit.”
starting when the owner turns 72, 73, or 75, depending on their birth year). The IRS bases your RMD on the annuity value minus the bonus.
The savings from this tax benefit can be substantial. In a hypothetical example, the RMD on a $130,000 IRA for a 73-year-old would be roughly $1,829 larger than the RMD on a $100,000 IRA for the same person. That is based on current life expectancy tables, which mandate a $7,927 RMD on a $130,000 account and $6,098 on a $100,000 account. If you don’t need the income from an RMD, minimizing it makes sense. Other kinds of annuities also may offer bonuses. A fixed annuity guarantees a specific rate of rate of return over an agreed-upon period of time, such as 5.5% a year for five years. A fixed indexed annuity ties returns to the stock market’s performance based on a selected index, such as the S&P 500. A variable annuity invests funds directly into the stock market, usually via mutual funds the buyer chooses. The best product for you will depend on your income needs, risk tolerance, and the intended term of your investment. Annuity products vary widely in their terms and limitations. If you want to learn which kind of annuity is your
wisest choice, I’d love to help. Call me at 248-785-3734, and we can work together to design a personalized approach that fits your unique circumstances!
-Dan Casey President, Bridgeriver Advisors
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Mastering the Marathon
3 Ways to Build Healthy Habits
No. 3 — Stay Consistent Consistency is at the core of building a habit — establishing a routine that aligns with your health goals. A structured routine supports habit formation, and consistency reinforces it. If you miss a day of your new habit, a routine helps you bounce back into the structure without being hard on yourself. As you continue building healthy habits, consistency will help ingrain them into your lifestyle. You can lay the groundwork for lasting, healthy habits by embracing these three tips. Small, gradual changes become the foundation for continued success, while clear objectives serve as milestones to celebrate success along the way. So, take joy in the process, celebrate the victories, and know that building these healthy habits is a marathon worth running.
goal is to exercise more, start with short walks in the evenings after dinner or take the stairs in the office instead of elevators. These changes lay the foundation for long-term success. Starting small will make it easier to transition to larger changes, like adding a morning workout or speeding up your evening walk into a jog. No. 2 — Set Specific Goals Setting clear, attainable goals can easily motivate you. Rather than vague aspirations, like “exercise more” or “eat healthy,” define your goals into objectives like “walk 20 minutes every day” or “eat vegetables with every meal.” These goals can be a road map for your journey as you can track your progress as time goes on. Consistently achieving these milestones will solidify your commitment to your new healthy habits.
The journey to healthier habits is a marathon, not a sprint, and as such, it is a daunting task. Here are three tips to help you begin your journey, whether your goal is to lose weight, improve your diet, work out regularly, or just establish a more balanced lifestyle. No. 1 — Start Small Start your journey to better health in small ways, as attempting drastic change can be overwhelming. You should first focus on incremental adjustments to your routine. If your
PALETTE OF POSSIBILITIES
3 Painting Ideas to Bring in Spring
In spring, nature shows us everything new: budding plants to blooms galore. Kids see this metamorphosis, too, so why not use this season to help your kids grow their own creativity? Here are three ways to encourage their creativity through painting. Nature-Infused Masterpieces For this activity, encourage kids to spend about half an hour outside picking their favorite leaves, flowers, or small twigs and rocks. While they’re collecting, set up paper and paint on a flat surface, but don’t add paintbrushes! Once they’ve picked their favorite bits of nature, bring them inside. Explain that they’ll be using these pieces of nature to stamp and brush, or they can even glue them onto the paper. This activity not only sparks creativity but also connects children with natural objects. They must think creatively to use these unconventional materials to construct a painting. Bubble Wrap Printing With this next project, you can recycle the bubble wrap from any packages you receive
during the week. Kids can dip bubble wrap into different paint colors and press it into paper or even the cardboard of those same boxes. This will create a textured and unique print you can hang up in your home. This activity can introduce kids of all ages to various textures and printmaking. These textures will often look organic and mimic shapes in
the outside world, bringing another natural element into your activity.
Glow-in-the-Dark Painting You can approach this magical project in a couple of different ways. All you need is glow-in-the- dark paint and some paper. One option is to have them paint a nature-inspired picture and then, when it dries, charge it under some light to reveal beautiful colors. You can also tell them to draw a secret message or picture and then paint over it. When the paint dries, it becomes transparent and even more colorful — watch their wonder as their hidden pictures appear. This fun twist can provide a unique angle to a conventional art session. Painting isn’t just about colors on paper; for kids, it’s about unlocking their imagination and allowing them to explore the endless possibilities of artistic expression. Simple materials upcycled with innovative techniques can transform painting into a joyful and educational pastime. These three projects are just the beginning of a beautiful journey into art for the whole family.
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Paw-some Adventures Gear Up Your Pup for a Hiking Adventure
water sources may be scarce. An ample supply of dog-friendly food is also essential, with the quantity adjusted based on the hike’s duration. A collapsible bowl will be handy for feeding your canine companion during breaks. First-Aid Kit Safety should always come first. A dog first-aid kit is indispensable for addressing unexpected issues on the trail. These compact kits typically include dressings, bandages, and tools for removing ticks or thorns. Being prepared for minor injuries ensures you can safely complete the hike without making any injury worse. Boots While some dogs may resist wearing boots, they can be a lifesaver in challenging terrains. Opt for boots that protect without compromising comfort. Though you likely may avoid trails with terrain that could harm
your dog’s paws, having boots in your pack is, at least, a proactive measure for unforeseen circumstances, ensuring your canine companion’s paws are protected if needed. Waste Bags Be responsible out on the trail. That means bringing poop bags. Attach them to the outside of your backpack or tote bag for convenient access once your dog has completed its business. The “leave no trace” practice will help maintain the pristine beauty of the trail for everyone to enjoy. Emergency Harness Preparedness is critical, and an emergency harness adds an extra layer of safety. A proper harness will allow you to carry your dog on your back in an emergency. This versatile harness ensures that you can provide assistance in challenging situations.
Setting out on a hiking adventure with your furry friend is a rewarding experience, but ensuring their safety and comfort on the trail requires careful consideration of essential gear. Before heading out, consider your dog’s unique needs and preferences so it’s an enjoyable and bonding adventure for you both. Here’s an introduction to some must-have hiking gear for your canine companion. Food and Water One of the most important aspects of hiking is staying well-nourished and hydrated. Packing more water than you think may be necessary is crucial, especially on a trail where natural TAKE A BREAK
CITRUS BBQ CHICKEN Inspired by FoodNetwork.com
Ingredients
• 8 skin-on chicken leg and thigh pieces • 1 1/3 cups ketchup • 2 tbsp brown sugar
• 1 tbsp Dijon mustard • 2 tbsp Worcestershire sauce • 2 tsp ground cumin • 1 1/2 tsp smoked paprika • Salt and pepper to taste
• Juice and zest of 1 orange • Juice and zest of 1 lemon • 3 cloves garlic, minced
Directions
1. Place chicken in a large resealable plastic bag. Combine all other ingredients in a small bowl. 2. Reserve 1 cup of the sauce and add the rest to the plastic bag. Toss to evenly coat the chicken and marinate overnight. 3. In a small saucepan over medium-high heat, add remaining sauce and bring to a boil. Reduce heat and simmer to thicken sauce, about 10 minutes. Set aside. 4. On grill set for medium-high heat, arrange chicken skin side down. Cook until grill marks form, about 4 minutes. Flip chicken, cover grill, and cook until a thermometer inserted into thighs reads 165 F, about 20–25 minutes. 5. Serve with remaining sauce.
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INSIDE
This Issue
A Little-Known Tax Benefit of Annuities
3 Tips for Building Healthy Habits
Artful Adventures for Spring
Paws and Paths!
Citrus BBQ Chicken
Jumpstart Your Skin Care
Bridgeriver Advisors is a Michigan-registered investment adviser and may transact advisory business in states where it is registered or exempt or excluded from registration. Advisory services are offered through Bridgeriver Advisors, LLC. The content contained herein is for informational purposes only and should not be construed as an offer or solicitation for the sale of securities, insurance, or any other products. Investing in securities involves risk, including the potential loss of principal. Please consult with your financial, legal, or tax professional for information specific to your situation.
3 Tips for Your Skin Care Journey SHOW YOUR SKIN SOME LOVE
Healthier and radiant skin involves more than just a collection of expensive skin care products. It’s more about a consistent routine with products that protect and complement your skin. A skin care routine can be a game- changer in achieving beautiful skin if done right. Here are three starter tips to jump-start your skin care journey. Double cleanse. Double cleansing is a new skin care practice with a name that describes it precisely. First, use an oil-based cleanser to break down any makeup, sunscreen, or excess oils on your skin. Scrub gently for at least one minute; sing your favorite song or set a timer — just be sure it’s one minute. Wash off the cleanser with warm water and begin the second part with a water-based cleanser, ensuring thorough removal of sweat and environmental pollutants. After rinsing, gently pat your face dry. Use sunscreen daily. Incorporating sunscreen into your skin care routine is crucial for maintaining beautiful skin. Dermatologist Dr. Howard Wang tells Johns Hopkins Medicine that “sunscreen is an essential aspect of a morning routine to protect the skin from
harmful UV rays.” It helps prevent skin cancer, premature aging, and hyperpigmentation. Using sunscreen should become a habit in your daily routine, reapplying every 2–3 hours. You can also throw sunscreen sticks in your bag for easy application or use moisturizers with SPF. Just make sure it’s at least 30 SPF.
Don’t forget your neck and chest. Including the neck and chest in a skin care routine is also incredibly important. Just
extend your double cleansing, moisturizer, SPF, and any other steps to your neck and chest. Skin care expert Paula Begoun explains, “The neck and chest have fewer oil glands, meaning they’re more prone to dryness and accelerated aging.” So, extending your routine to these often-neglected areas will address signs of aging more thoroughly. You’ll see and feel the difference in your skin in no time.
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