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OCTOBER 2023
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One concern many retirees or pre-retirees often have about their retirement is their options for accessing extra money in the case of an unexpected financial hardship. While there are many ways to plan for this, there are two common methods of accessing qualified funds: a 72(t) withdrawal and a 401(k) separation of service early withdrawal. What is a 72(t) withdrawal? Essentially, 72(t) is a tax code the IRS must approve. Really, the single benefit to a 72(t) withdrawal is that you can do it at any age, but it’s important to know that you’ll then be required to take out distributions for a minimum of The Pros and Cons of Each That You Should Know 72(t) Withdrawals vs. 401(k) Separation of Service for Retirees
five years or until you’re 591/2. So, for example, if you use a 72(t) withdrawal at 40, you’ll possibly have to take out minimum distributions for nearly 20 years.
A substantially equal periodic payment plan (SEPP) decides these distributions based on your mortality. This becomes extremely complicated — and frustrating — because your withdrawal amount doesn’t impact your distributions. Let’s say you only need to withdraw $10,000 once at age 50. The following 10 years of distributions are then calculated using your projected lifespan, so the minimum distributions you’ll have to take after that won’t necessarily reflect the fact that you only needed a small amount of your saved funds. What is a 401(k) separation of service early withdrawal? Now, on the flip side of a 72(t) withdrawal, a 401(k) separation of service tends to be cleaner. While the 72(t) withdrawal has many stipulations, commitments, and hoops to jump through, a 401(k) separation of service really only has one caveat — you must be at least 55 to do it. But, once you reach 55, a 401(k) separation of service has no other rules. It doesn’t matter if your previous company fires you, if you quit, or if your employer dissolves your position — as long as you no longer work for that company, you can take out as much money as you’d like, penalty-free, so long as the money is coming from your 401(k). Now, for both options (72(t) and separation of service), the money you withdraw is still considered income, making it susceptible to taxes. In nearly every case, we’d recommend the 401(k) separation of service over a 72(t) withdrawal. However, every person’s situation is different, and other options outside these two may be accessible. If accessing retirement funds early or
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the possibility of unexpected future financial hardships are your concerns, we’d love to help you. You can call me at 248.785.3734, and we can make a plan for your unique circumstances that minimizes consequences and maximizes your retirement.
-Krisstin Peters marck
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The Origins and Legends Behind Your Favorite Traditions LET’S UNMASK HALLOWEEN:
Here come the scary decorations, pumpkin carving, trick-or-treating, and spooky costumes because Halloween is just around the corner! These traditions are what make Halloween fun and exciting year after year. However, did you know that jack-o’-lanterns come from an Irish legend or that trick-or-treating comes from a historical ritual called “souling”? As we prepare for Oct. 31 activities, here are some fun facts you might not know about Halloween! Halloween is based on a Celtic festival. Samhain, a pagan festival held from Oct. 31 to Nov. 1, celebrated both the harvest and the “dark” second half of the year. During this celebration, it was believed the barrier separating the spirits from the physical world would come down, allowing demons to enter and the spirits of all who passed away that year to move on to the next life. ‘Stingy Jack’ helped evolve jack-o’-lanterns. The Irish myth of a man named “Stingy Jack” goes like this: Stingy Jack invited the devil for a drink, and because he didn’t want to pay, he convinced the devil to turn into a coin so he could buy their drinks. However, instead of paying,
he placed the “coin” next to a cross in his pocket that prevented the devil from returning to his original form. Once he freed the devil, Stingy Jack continued to trick him. When he died, God turned away Stingy Jack with only coal to light his way, so he placed the coal in a carved-out turnip to create a lantern. From there, people slowly transformed his “lantern” into the modern-day jack-o’-lantern!
Candy corn was once called chicken feed. Candy corn, which the Wunderlee Candy Company began producing in the late 1880s, is an extremely popular Halloween candy. In fact, today, about 35 million pounds of the candy are sold each year! When the Goelitz Candy
Company brought it to the masses at the turn of the century, they called the sweet tricolored candy “Chicken Feed” because so many people worked on farms at the time. Their early ads exclaimed, “Something worth crowing for!”
Now you know! Happy Halloween!
Navigate Skin Care Trends Safely
Skin care is a popular topic — we can always find new trends or tips going viral on social media. However, with rampant misinformation and advertising mixed in, it can be hard to determine which routines are good for your skin and which can be damaging. Let’s look at four toxic skin care trends sure to do more harm than good. Slugging Many social media influencers and even celebrities like Kourtney Kardashian have sworn by coating their faces with Vaseline or another moisturizer to lock in moisture and improve the brightness and complexion of their skin. However, layering a substance on your skin can cause toxins, dirt, debris, and dead skin particles to become trapped, leading to potential irritation, breakouts, and infection — especially for those with oily or acne-prone skin. Physical Exfoliators While natural exfoliation of your facial skin is essential to remove dead skin particles, excess oils, and debris that can clog pores, physical
exfoliators such as scrubs containing crushed- up walnuts or apricot pits can be too harsh for your skin, causing micro-tears and leaving your face red and irritated. Instead, try products with milder chemical exfoliants like alpha hydroxy acids (AHAs) or beta hydroxy acids (BHAs). Pore Strips and Vacuums Clean pores are the name of the game, but using pore strips or vacuums can be extremely damaging. When using a pore strip to remove blackheads, you stretch your pores, making them more susceptible to collecting debris and dirt. The strips can also contain chemicals that can irritate sensitive skin. The pore vacuum can have even worse effects: broken or dilated blood vessels and bruising. Charcoal Peel-Off Masks Charcoal peel-off masks are advertised as a giant pore strip for your whole face to help open up and clean out your pores. While charcoal is a natural compound, it’s still a chemical and can cause some severe and unwanted skin conditions such as excessive
peeling, irritation, burning, and, in serious cases, scarring and infection.
With so much conflicting information, it’s paramount to safeguard your skin. Always check with a licensed medical professional before jumping on the bandwagon. Take care of your skin — it’s yours for a lifetime!
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TRANSFORM YOUR FALL HARVEST INTO STUNNING INDOOR DECORATIONS!
If you have a backyard garden, you may find yourself looking for new ways to use all the crops you’ve grown. After all, there are only so many pumpkins you can carve, seeds you can roast, or squash you can spaghetti. So, instead of looking up “squash recipes” for the hundredth time this week, consider these indoor decor tips that utilize your garden’s bountiful harvest! A Centerpiece Fall fruits and vegetables make great centerpiece arrangements because they have both seasonal colors and unique textures. Consider arranging a few squash or pumpkins in a bowl or basket and topping them with a bouquet of festive flowers. You can also mix herbs like basil, parsley, thyme, or rosemary into the bouquet for fragrance and a fuller appearance. TAKE A BREAK
Play with the different shapes and sizes of your gourds. Have them lean against each other or stack them for variation and depth in your display. A Natural Wreath Fresh herbs, flowers, or leaves from your fall harvest are perfect for an autumn wreath. All you need is a wreath form, which you can buy from your local craft store or online, and some floral U-pins. Use large leaves as a base (pumpkin leaves are great), then layer on smaller seasonal herbs such as sage, rosemary, or oregano. Finally, attach some flowers to it! Squash or pumpkin blossoms work beautifully, but you can use any seasonal flower you have growing.
some color to your door without creating an entire wreath.
To make a swag, grab a few bundles of your favorite herbs, secure the stems with a rubber band, wrap them with twine, and tie them off, leaving a few inches of twine on both sides. Then, tie those ends together to form a loop and hang the swag on your door!
An Autumnal Herb Swag A “door swag” is a traditional holiday decoration, and it’s an easy way to add
One-Bowl Pumpkin Muffins
Ingredients
Inspired by NoraCooks.com
• 15 oz can pumpkin purée • 1/3 cup melted butter (or vegetable oil) • 1/2 cup unsweetened plant- based milk • 1 1/4 cups brown sugar • 1 3/4 cups all-purpose flour
• 1 tbsp baking powder • 1/2 tsp salt
• 2 tsp cinnamon • 1/2 tsp nutmeg
• 1/2 tsp ground ginger • 1/4 tsp ground cloves
Directions
1. Preheat oven to 375 F. Prepare muffin pan by greasing and placing paper liners. 2. In a large mixing bowl, add pumpkin, melted butter (or oil), milk, and brown sugar, then whisk until well combined and smooth. With a sifter, sift the flour, baking powder, salt, and spices over the wet mixture. 3. Using a large wooden spoon, mix until just combined (do not over-mix). 4. Fill the muffin cups and bake for 22–25 minutes. Let cool for 30 minutes and enjoy!
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INSIDE This Issue 72(t) vs. 401(k) Separation of Service – Which is Right for You?
Halloween’s Haunting History
Safe or Scary? Decoding Skin Fads
Use Your Garden’s Fall Bounty for Home Decor!
One-Bowl Pumpkin Muffins
Tummy Talks: Nourishing a Healthy Gut
5 FOODS FOR A HEALTHY DIGESTIVE SYSTEM
Yogurt Yogurt is an amazing source of probiotics, beneficial bacteria that support and balance your gut flora to prevent harmful bacteria from taking over. As a general tip, look for yogurt labeled “live cultures” for a tasty treat full of probiotics! Whole Grains Because whole grains, such as brown rice, quinoa, and whole wheat, are high in fiber, they promote optimal digestion and, in turn, a thriving gut. Fibrous foods also act as prebiotics, which facilitate the growth of beneficial bacteria. Berries Blueberries, blackberries, strawberries, and raspberries are not only high in fiber but also rich in antioxidants that help reduce inflammation all over the body. The fiber-antioxidant combination works wonders for gut health!
Sauerkraut Some people love sauerkraut, and others aren’t very fond of the fermented cabbage dish. However, those who can get past the acquired taste will find that sauerkraut is abundant in probiotics, as the fermentation process encourages the growth of beneficial bacteria to aid digestion. Tempeh Tempeh is a plant-based protein made from an Indonesian fermented soybean product. Because tempeh is fermented, it is a probiotic, but because it is made from soybeans, it is also a prebiotic, making it a powerhouse for creating beneficial gut bacteria. Incorporating these gut-friendly suggestions into your daily diet is a rewarding and delicious way to improve your gut health and, in turn, the health of your entire body. Remember, it all starts in the belly!
Gut health goes beyond your stomach — in fact, it plays a vital role in your overall well-being! Research shows that about 39 trillion bacteria live in your large intestine. Collectively, all of these bacteria make up your gut microbiome, which helps keep you healthy. A balanced gut also promotes proper digestion, nutrient absorption, immune function, and mental health.
For a healthy gut and body, start incorporating these five food types into your daily diet.
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