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NOVEMBER 2023
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If you’ve been reading this newsletter for a while now, you’ll know that we frequently talk about many different retirement accounts, but most recently, we’ve touched on Roths quite a bit. This is because they’ve become incredibly popular, and many people are rushing to convert their IRAs to Roths before the 2026 tax spike. But why? What is the difference between a Roth and a traditional IRA? The big differences are with a Roth, your money grows tax-free in the account, and you can usually make tax and penalty-free withdrawals from the account after you’re 59 1/2. With a traditional IRA, your money grows tax-deferred, and after the age of 59 1/2, the IRS considers withdrawals current income. At least to the extent that the contributions over the years still need to be taxed (401(k) contributions and IRA contributions that were deducted in the year contributed). So, you can see why a Roth is the more appealing option to most people. However, Roths actually have three more benefits that most people aren’t even aware of, and taking advantage of these three things can be game- changers for your finances and retirement. And How They Can Supercharge Your Retirement Savings 3 Little-Known Facts About Roths BRIDGERIVER NOVEMBER 2023 SEMINARS Nov. 1 & 2 - 6:30 p.m. Loccino (Troy) Zero Taxes in Retirement Nov. 7 & 9 - 6:30 p.m. Filippas (Shelby Township) Zero Taxes in Retirement Nov. 28 & 30 - 6:30 p.m. Roadside B&G (Bloomfield Hills) Zero Taxes in Retirement with Ryan Gauche Register today at BridgeriverLLC.com! Free dinner provided. Schedule subject to change.
No. 1: You don’t have to stop converting your traditional IRA to a Roth once you hit your required minimum distribution age. Regardless of how you put your money into your traditional IRA or whether or not you deduct those contributions, minimally, the gains are usually taxable when you pull that money out. On top of that, the IRS has a designated age where you must begin pulling that taxable money out. These ages, established by the SECURE 1.0 and 2.0 Acts, have changed to 73 if you were born before 1959 or 75 if you were born in 1960 or later. With all this said, many people believe that once they reach these required minimum distribution ages, they can’t convert from a traditional IRA to a Roth anymore. This is not true! You can pull your required minimum distributions out, pay taxes on them, and then convert any remaining monies in the account into a Roth. No. 2: Contributions into Roths are limited, but conversions are not. If someone contributes to a Roth, there are limits to how much they can put into the account every year. If you’re 50 or older, that limit is $7,500 (if you have wages to match and under the maximum amount). However, suppose you are converting funds from an IRA, 401(k), or any other qualified account. In that case, you can convert as much money as you’d like, regardless of how old you are or whether or not you’re working. The IRS is more than happy to allow this “no rule on conversions” because they get their tax dollars earlier than they thought; when you convert, you do have to pay taxes on that amount.
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GET LUSTROUS LOCKS: 6 Lifestyle Tips for Healthy Hair
Regular Haircuts Trimming your hair every 6–8 weeks helps prevent split ends
Keeping your hair healthy and shiny requires more than just using the right products; it also requires maintaining a healthy lifestyle and adopting other good habits. Factors such as your diet, hydration, and stress management play a pivotal role in the health of your hair. To achieve gorgeous locks, consider these lifestyle choices that are proven to have an enormous impact. Balanced Diet A diet rich in vitamins, minerals, and nutrients is essential for healthy hair. Aim to include foods high in protein, iron, omega-3 fatty acids, and biotin. This includes greens, nuts, eggs, fish, and lean meats such as chicken and fish. H2O Drinking plenty of water supports overall health, including your hair. Staying hydrated ensures your hair follicles are nourished and absorb the necessary nutrients. According to Daily Dose, individuals should aim for at least eight glasses of water daily. Proper Scalp Care A healthy scalp is the foundation for lustrous hair. Keep your scalp clean by washing it regularly with a gentle shampoo. However, avoid overwashing and using harsh chemicals that can strip natural oils and lead to dryness.
and breakage, promoting optimal hair growth. Regular haircuts also maintain the shape and appearance of your hair.
Stress Management Chronic stress can contribute to thinning hair and damage. Incorporate stress-reduction techniques like meditation, deep breathing, or yoga into your routine to improve your hair’s look and feel. Silk or Satin Pillowcase A silk or satin pillowcase can reduce friction and prevent hair breakage while sleeping. Additionally, tying your hair up in a loose bun or braiding it can minimize tangling and friction. By adopting these practices, you can promote the health and vitality of your hair. While it may take time to see noticeable changes, consistency with these lifestyle adjustments will contribute to stronger and shinier hair over time. Remember that healthy hair is a reflection of your overall well-being!
Cook Like a Pro
Chef-Tested Hacks to Enhance Your Culinary Creations
Chefs are artists and scientists, honing their skills in the kitchen to create culinary masterpieces. These experts have developed a range of kitchen hacks to help home chefs elevate their cooking game. Whether it’s enhancing flavors, saving time, or ensuring consistent results, these tips can make your culinary experiences more enjoyable and successful. Bon appétit! Hold the Cork Before throwing the cork away after finishing a bottle of wine, a clever hack popularized by Chef Motokichi on Instagram is to slide the cork beneath the handle of a pot lid. Not only does this make the top easy to grab, but it also prevents your hand from coming in contact with the hot handle! Because sparkling wine corks tend to be a bit thicker in size, they’re best suited for the job. Peeling Garlic Made Easy Executive chef Nicholas Poulmentis of Akotiri in New York recommends thinking ahead when preparing garlic. The night before you cook,
place garlic cloves in a container filled with water, and the next day, the skin will peel right off without a knife or tool. Chilled Plastic Wrap Is plastic wrap often more of a struggle than a help? Chef Chaz Eicke of The Salad
House in New Jersey has a genius tip: Chilling your plastic wrap in the refrigerator will help prevent it from creasing and sticking together. Protect Your Fingertips Sydney Willcox, culinary instructor at The Brooklyn Kitchen, recommends tucking your fingers into your palm on your nondominant hand while chopping vegetables and herbs. If you use your knuckles to guide your knife, you won’t ever accidentally cut your fingers! Slice Meat the Right Way Did you know that slicing meat with the grain can lead to a tough and chewy entree? Willcox has another tip for that! She recommends always slicing meat, even tender filet mignon, against the grain. Creating restaurant-quality meals in the comfort of your own home has never been easier. These tips can help take your cooking skills to the next level while reducing time, frustrations, and errors!
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MAYO MAGIC: THE SECRET TO JUICY THANKSGIVING TURKEY
The turkey undoubtedly takes center stage among the many culinary delights that grace the Thanksgiving table. While there are plenty of methods for cooking a turkey, many chefs and home cooks swear by the “mayo method” as the best way to achieve a moist and flavorful Thanksgiving turkey — here’s why! Moisture Lock One of the biggest challenges when roasting a turkey is maintaining its moisture. The mayo method involves slathering the turkey with a layer of mayonnaise before roasting. Because mayonnaise contains oil, it helps lock in moisture during cooking, resulting in a juicy and tender turkey. Flavor Infusion If you’re a mayo lover, you’ll agree it’s delicious! While it gives the turkey a subtle and rich flavor, the result doesn’t taste like mayonnaise at
all! (Mayo haters can breathe a sigh of relief.) Even Browning Applying mayonnaise to the turkey creates an
• Allow your turkey to thaw. Create your custom mayonnaise by mixing it with your seasonings of choice. • Dry the turkey with paper towels and season it with salt and pepper. • Gently separate the skin from the bird and slide in cubes of butter. • Rub the entire turkey with your mayonnaise mixture, inside and out. • Bake at 450 F for 30 minutes. Then lower the temperature to 325 F and cook for 15 minutes per pound.
even and beautiful browning effect on the skin. This enhances the visual appeal and contributes a succulent and slightly crispy texture. Spice Kick Don’t worry — you’re not using only mayonnaise on your turkey. The mayo method serves as an excellent base for your choice of seasonings. You can create your own mixture before applying it to the turkey. Thyme, parsley, garlic powder, sage, cayenne, and rosemary are all great options. Simple Preparation The mayo method streamlines your preparation process — here’s what to do:
This Thanksgiving, give the mayo method a whirl — you and your guests won’t be disappointed!
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No. 3: Some companies now offer Roth 401(k)s, which have no income limits, and you can contribute more. As Roths become more popular, more companies are offering employees a Roth 401(k) option, which is fantastic. These Roth 401(k)s have entirely different rules than Roths in the “outside world.” For example, a regular Roth has income limits (along with your age) that determine how much you can contribute to the Roth. However, a Roth 401(k) has no income limits, and if you’re 50 or older, you can contribute more than the traditional Roth $7,500 limit. In fact, if you’re 50 or older, you can contribute up to $30,000 to the Roth 401(k) account every year. The only catch with this option is that you must be working with a company that offers it. And there you have it! With these three little-known advantages of Roth accounts, you can maximize your ability to build tax-free retirement income. If a Roth and all of its benefits
Stuffed Pepper Soup
Ingredients
Inspired by TasteOfHome.com
• 2 lbs ground beef • 6 cups water • 1 28-oz can tomato sauce • 1 28-oz can diced tomatoes, undrained
• 2 tsp salt • 2 tsp beef bouillon granules • 1 tsp black pepper • 2 cups cooked long-grain rice • Chopped fresh parsley (optional)
• 2 cups chopped green peppers • 1/4 cup packed brown sugar
Directions
-Dan Casey President, Bridgeriver Advisors sounds like something you’d be interested in, call my office at 248.785.3734 to get started!
1. In a Dutch oven over medium heat, cook beef until no longer pink, breaking it into crumbles; drain. Add beef back to the pot and stir in all ingredients except the cooked rice. Bring to a boil. 2. Reduce heat. Simmer uncovered until peppers are tender, about 30 minutes. 3. Add cooked rice and simmer, uncovered, for about 10 minutes. If desired, sprinkle with chopped fresh parsley.
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INSIDE
This Issue 3 Benefits of Roths That Are Game- Changers
6 Lifestyle Tips for Stunning Hair
Transform Your Cooking with Chef- Endorsed Kitchen Hacks
Tips to Make the Best Thanksgiving Turkey
Stuffed Pepper Soup
Your Inflammation Survival Toolkit Revealed
Crush Chronic Inflammation: Revitalize Your Health
Why should you avoid inflammatory foods? Inflammatory foods can not only lead to weight gain and difficulty losing weight, they can increase your risk of chronic diseases, affect your digestive health, deplete your energy levels, and wreak havoc on your skin. How can you avoid inflammatory foods? • Opt for whole foods such as fruits, vegetables, whole grains, lean proteins, nuts, and seeds. • Reduce your consumption of sugary snacks, beverages, and desserts. • Avoid trans fats, commonly found in processed and fried foods. • Limit refined carbohydrates such as white rice, white bread, and sugary cereals. Opt for whole grains instead. • Prepare your meals at home to ensure you have control of the cooking method. • Include anti-inflammatory spices such as ginger, turmeric, and garlic in your cooking. • Stay hydrated to flush toxins out of your body.
Inflammation is the body’s natural response to injury or infection and is crucial in promoting healing and protecting us from sickness. However, chronic inflammation, triggered by various factors, including dietary choices, can lead to various health complications. Avoiding foods that cause inflammation is key to maintaining your overall health and well-being. What are inflammatory foods? When consumed regularly, inflammatory foods lead to an imbalance in the body’s immune response and create inflammation. These foods often contain high levels of refined sugars, processed ingredients, and unhealthy fat and are linked to diabetes, heart disease, and obesity. Some common inflammatory foods include: • Red meat • Processed meat • Sugary beverages • Packaged food • Margarine • White flour • Fried food
While inflammation may harm your overall wellness, the good news is you can fight it with proper knowledge and an anti-inflammatory diet. By making informed choices about the foods and beverages you consume, you can lower your risk of digestive complications and elevate your health!
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