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SEPTEMBER 2022
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After the market goes up, the market goes down. It’s a law of nature that applies no matter what stock you invest in. But don’t worry — these fluctuations are so normal that they have a relatively boring name: market corrections. If your stock sustains a decline in value, it qualifies as a market correction if it loses as much as 10%–20% of its value from the recent peak. So, don’t get too bogged down by the disadvantages of a down market. There are huge opportunities too. Here are three main strategies you can utilize to take advantage of the down market. First, if you have money in an annuity that’s principal protected, start putting money into the market. In these types of annuities, you get protection for your money (no loss!) with the condition that you need to keep your money there for an agreed amount of time. But luckily, you also have an amount of liquidity or percentage of cash you’re allowed to take out. If you take out your money that’s protected from the current market losses, this is the best time to put your money into the market again so you can potentially make some major returns when the stock market inevitably rises again. 3 Strategies to Get Ahead in a Down Market
IRA and into a Roth IRA. You’ll pay taxes on the value that you convert from an IRA to a Roth, but then everything in your Roth IRA will grow tax-free. In a down market, the value of your savings is cheaper to convert, and you’ll pay less taxes right now than you might later on. Third, get into tax loss harvesting. This is when you sell investments at a loss to offset gains you’ve made by selling other stocks at a profit. Why do this? Your losses give you tax relief, while your gains increase your tax. If you sell a stock for a $10K loss, but make a $10K profit for another stock, the IRS gives you a tax break for your loss, and suddenly you’ve made $10K tax-free. The IRS sets rules for this, of course. One of them is that you can’t immediately buy back the stock you’ve sold — however, you may be able to “buy back” your stock in different forms. Let’s say you’re tax loss harvesting your Apple stock. If you sell your Apple stock, you can’t buy it back for at least 30 days. A lot can change in 30 days, right? Except you can buy QQQ, an ETF that owns Apple as its largest holding. Although you’ve sold Apple stock for the write-off, you still have stock in Apple through this workaround.
Second, start your Roth IRA conversion. It’s important to do this if you haven’t yet. A down economy is the best time to transition your traditional
More Income and Less Taxes in Retirement Seminar
Sept. 6 & 7 — 6:30 p.m. 5 th Tavern (Clarkston) Sept. 13 & 15 — 6:30 p.m. Filippas (Shelby Township) Sept. 20 & 21 — 6:30 p.m. Camp Ticonderoga (Troy) Sept. 27 & 29 — 6:30 p.m. Filippas (Shelby Township) Hosted by Krisstin Petersmarck
Don’t feel like you have to do this alone. If you’d like to learn more, I’m always happy to chat about these strategies with you. Just give our office a call!
Register today at BridgeriverLLC.com! Free dinner provided.
-Dan Casey
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SHIFT TO THRIFTING 4 Hacks to Stock Your Closet Learn vintage sizing. It’s pretty obvious that the sizing standards have changed dramatically over the years. Though many thrift stores stock more modern looks, plenty stock items that may be decades old. A general rule of thumb when it comes to vintage clothing is that they are at least four sizes smaller than modern sizes. Women’s clothing is especially notorious for being inconsistent, and it’s always a good idea to try something on before purchasing it. But this is a generally good idea for everyone since you’re less likely to be able to return it. Thrifting can be intimidating and overwhelming, but it doesn’t have to be. Try these hacks and join the ranks of people who know how to find a great deal on quality items.
You don’t need expensive clothes or accessories to feel like a million bucks. Name brands are always great, but for those who don’t want to spend a pretty penny, thrifting is a must! It’s also a great way to express your creativity and find quality items on a budget. Find the best days to shop. You would think going on a Friday or Saturday would be the best day for thrifting, but it’s actually the opposite. Those are the busiest days of the week and everyone loves shopping on the weekend. You’re less likely to find any good items since the store will be crowded and inventory will be picked over. Instead, shop during the middle of the week to find the best items before the crowd rushes in. You can even ask your local thrift store which days they restock their inventory, so you’re guaranteed the best picks. Each store is different, but this information will save you from shopping when the inventory is low. Look for items to revamp. With a little creativity, you can turn any article of clothing into a masterpiece. Sometimes you may feel inspired by a specific outfit or expensive look, but you don’t want to spend the money to get similar pieces. Thrifting is an easy way to find look-alikes and make them your own! If your inspiration has specific colors or designs, you can dig through the racks and find certain pieces to use. You may have to do some sewing or cutting, but you can revamp just about any fabric. Recognize high quality/valuable items. A mistake most beginner thrifters make is focusing too much on searching for name brands or companies with lots of name recognition. Though it’s great when you are able to find them, if you only search for those brands, you may miss other great items. It’s important to go beyond the big brands and check labels to learn markers of quality. If it’s an item you really like but haven’t heard of the brand before, keep your phone handy! You can look it up and see what the original price point was and whether it’s worth your money.
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TANGLED UP IN CORDS? Technology was created to make our lives easier, and though it simplifies our daily routines, it can be a hassle to maintain — especially if there are cords involved. Keeping the power flowing to multiple devices requires a plethora of cords that can get tangled and annoying. Also, as time goes by, cords may break or simply stop working. Organizing and preserving the quality of your electronics is the best way to extend their longevity, and with these tips, you can save a few headaches along with some money. Protect your cords. Smartphone and laptop chargers aren’t cheap by any means. Since we use them so often, the cord that attaches to the device is susceptible to fraying and breaking. If you have some painter’s tape lying around, take a small piece and wrap it around the cord close to the connectors on both sides! The tape acts as a brace and keeps your charger cord sturdy. 3 TIPS TO MAINTAIN YOUR ELECTRONICS
Organize extra cables and cords.
Tidy up your cords. When you have tons of cords and cables attached to your desk and power strips, they can become a tangled mess. You end up pulling the wrong cord because they all look the same, and it’s a pain to figure out which is which. A great way to fix this is to use binder clips!
If you’re like most people, you probably have a bag or box of tangled wires and cables somewhere. It can become an organizer’s worst nightmare, but there’s a better way. First, find an old shoe box and several empty toilet paper rolls. Then, place the rolls upright in a
shoebox, wrap each cord up separately, and place them inside the rolls (one per roll) to keep them separate but together. Maintaining our electronics, especially the cords, allows our technology to continue working for us without worry or breaking the bank. Try these hacks and watch how untangled your cords and life can be!
You can clip them onto your desk to keep cords separate and in one place. Take it up a notch by using colored/patterned binder clips. Assigning specific colors to certain cords lets you find the one you need at any moment.
HAVE A LAUGH
Grape, Goat Cheese, and Honey Stuffed Sweet Potatoes
Inspired by HowSweetEats.com
Ingredients
• 4 sweet potatoes • 2 cups seedless red grapes • 1 tsp grapeseed oil • 1/4 tsp salt, plus a pinch • 1/4 tsp pepper, plus a pinch
• 4 oz goat cheese, divided • 2 tbsp honey, plus additional for drizzling
• Pinch of cinnamon • Pinch of nutmeg
Directions
1. Preheat oven to 350 F. 2. With a fork, poke holes in potatoes. Tightly wrap each in aluminum foil. 3. On a baking sheet, place potatoes and roast for 45–60 minutes, until potatoes are tender. Remove and unwrap foil. 4. With a knife, slit each potato down the middle. 5. Increase oven to 450 F. 6. On a nonstick baking sheet, drizzle the grapes with grapeseed oil. Add a pinch of salt and pepper and toss to coat. Roast for 20–25 minutes. 7. Using a spoon, remove sweet potato flesh while keeping shape intact. 8. In a large bowl, mash sweet potato flesh with 3 oz goat cheese, cinnamon, nutmeg, salt, pepper, and honey. 9. Scoop filling back into potatoes. Top with remaining goat cheese, grapes, and drizzled honey.
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INSIDE This Issue
Are You Leveraging the Down Market?
Look Like a Million Bucks Without Breaking the Bank
Don’t Cross Your Cords!
Grape, Goat Cheese, and Honey Stuffed Sweet Potatoes
DIY Fall Scavenger Hunt for the Family
READY, SET, SCAVENGE!
Explore What Autumn Offers
As the leaves begin to fall and the air becomes cooler, it is a sure sign that summer is slowly coming to an end. Though we will miss the pool parties and backyard barbecues, there is still lots to look forward to during fall. Autumn is known as the season of change, and getting the kids outside allows them to understand and explore the changes going on in the world around them. Creating a fall scavenger hunt is a great way for kids to practice their reading and observation skills, all while still enjoying the outdoors. Signs of Fall Creating a specific scavenger hunt for signs of autumn is a great way to enhance your child’s observation skills.
Fall Color Wheel The best way to explore autumn’s colors is by creating a fall color wheel hunt! Since the leaves are the surest signs of fall, kids can compare and contrast the different colors of each leaf they find, making this a fun hands- on activity. You can either download a color wheel template from the internet or make one yourself! All you need is a piece of paper that’s big enough for kids to tape the leaves onto and different areas for the colors red, yellow, orange, and brown. This will help kids see the different kinds of leaves as well as their visual changes during the season. The weather is getting colder, but it doesn’t mean you have to hibernate too! Bundle up with a cozy sweater and beanie, and encourage the family to get outside to explore all of the wonderful changes autumn has to offer.
Consider the following for your signs of fall hunt:
1. Leaves that have changed colors 2. Tree seeds or pine cones that have fallen to the ground
3. Items from a fall harvest (like pumpkins, sunflowers, or hay bales) 4. Changes among people’s apparel (such as jackets, hats, and scarves) 5. Animals hibernating or migrating
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