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MARCH 2024
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What You Don’t Know Could Hurt You INCOME ANNUITIES
More investors are turning to annuities to fund their retirements, driving total U.S. annuity sales to a record high last year, according to insurance industry reports. However, if you’re interested in these financial products as a source of future income, what you don’t know can hurt you. A quick look at various types of income annuities and some common misconceptions about them can help you make the wisest choice. Like life insurance, insurance companies offer annuities and typically require you to invest a large amount upfront in return for smaller but equal payouts over time. Depending on the type of annuity you choose, these payments can continue either for only a specified period or for the rest of your life — and potentially for the rest of your spouse’s life, too. Here’s a rundown of what prospective buyers need to know. Fixed Annuities: These products guarantee you a specific flat rate of return for a set term, such as five years, similar to a certificate of deposit (CD). However, CDs are insured by the Federal Deposit Insurance Corp. (FDIC), and annuities are only guaranteed if the insurance company selling them remains solvent and in business. Fixed Indexed Annuities: These products are still principal-protected, like a fixed annuity, but you have the potential to make larger gains because your returns are based partly on the performance of the stock market — or specifically, on certain market indices such as the S&P 500. Unlike the stock market, however, gains on indexed annuities are usually capped, so you may not benefit from the entirety of a large stock-market gain. Like fixed annuities, fixed indexed annuities have no fees, although fees may be added for certain riders. Variable Annuities: These products usually have the most expensive fees. That’s because the money you invest in a variable annuity is re-invested in BRIDGERIVER MARCH 2024 SEMINARS Mar. 12 & 13, 6:30 p.m. Loccino (Troy) Zero Taxes in Retirement with Dan Casey Register today at BridgeriverLLC.com! Free dinner provided. Schedule subject to change.
the stock market, in mutual funds that may charge fees. These may also have other added fees that are hidden to investors. An Income Annuity: This type is like a fixed indexed annuity, but it is geared to create the maximum possible income in retirement. When people hear that, they assume it’s like a pension from a corporate job, which promises you income for the rest of your life. But income annuities are different in a fundamental way. If you receive a pension and die two years after payouts start, potentially, all of the money set aside for the pension is lost. An income annuity does not work like that. It does create a pension- like income stream that potentially continues throughout your life. But while different income annuity products work in different ways, an income annuity generally provides a death benefit. Another even better feature is that if either you or your spouse needs long-term care, these products can potentially double that income. Using IRA Funds: People often are not aware of another feature of annuities — the ability to fund them with money from a traditional IRA, Roth IRA, or non-retirement money. People often assume they have to cash out a traditional IRA before re-investing those funds in the annuity. But that is not the case. For an IRA annuity, you can just transfer those funds tax-free directly to the insurance company. Taxes on payouts are based on how you funded it. If you withdrew funds from a traditional IRA, then your income from the annuity will usually be taxable. If you funded it with a Roth IRA, the income will be tax-free. You also have the option to convert money from a traditional IRA into a Roth IRA inside the annuity contract, but you have to do that before the income stream begins. Another flexible feature is that some products allow you to turn on the income stream as soon as a year after you fund the annuity. For others, you have to wait five or 10 years. The best product for you will depend partly on when you need the income. Every contract is different, so it’s important to read the fine print. If
you want to learn which kind of annuity is the wisest choice for your needs, I’d love to help you. You can always 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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TRY THESE PRACTICAL HACKS TO TACKLE PESKY PROBLEMS Streamlined Solutions
Get rid of wrinkles on your clothes. Are you tired of using your steamer or iron to get annoying wrinkles from your pants and shirts? Toss a wet washcloth or a couple of ice cubes into the dryer with your clothes. The steam will work out the wrinkles and leave your clothes smooth. It’s not as effective on heavier fabrics, but with light fabrics, it’s incredible and takes less than 10 minutes. Start a fire with dryer lint. Are you going camping or planning a bonfire in the backyard? It’s sometimes hard to start a fire, but if you have dryer lint, stuff it into a paper towel tube or toilet paper tube and use it as kindling. Lint lights up easily and burns quickly to form a strong base for a fire. Use a staple remover to open key rings. It can be difficult to get a key on a key ring, but using a staple remover is a way to save your patience and your fingernails. Slide the teeth of the staple remover between the coils of the key ring, then clamp down on the remover and pop your new key on the key ring. Get permanent marker off of a dry-erase board. You were writing on your whiteboard with a marker, but oh no! You accidentally used a permanent marker and left a permanent stain on it. Don’t fret. Get a dry-erase marker and draw right on top of the permanent marker lines. Then, wipe the board off with a dry cloth or a whiteboard eraser, and the marks will disappear. Get Bluetooth trackers for things you can’t afford to lose. We all have things we can’t live without: our phones, laptops and tablets, keys, wallets and purses, and so on. Sometimes, despite our best efforts, we misplace them, but this is where Bluetooth trackers come in handy. Small, convenient, and inexpensive, these trackers stick to your items and help you locate your belongings if they go missing. These life hacks will help you save time, money, and energy, allowing you to use your valuable time for other things. Give them a try today and see how much easier things can be.
Life hacks have become essential for navigating the complexities of daily life, offering ingenious solutions to streamline tasks, boost productivity, and simplify routines. Everyone can use simple solutions to make everyday life easier to manage and alleviate stress. Here are a few hacks to handle some of the peskier problems, which will save you time and money. Remove highlighter with lemon juice. You’ve just gotten a book from your local used bookstore, but it’s covered in highlighter marks. Lemon juice works wonders to remove highlighter marks in books! Dip a cotton swab into lemon juice and gently rub it along the highlighted text. The color will fade and be virtually invisible. Use nail polish to make your frequently used keys stand out. Do you have a lot of keys on your keychain? Try this handy tip. After identifying the key’s purpose, paint it with nail polish or wrap the head in painter’s tape. Stop your bathroom mirror from fogging up. If you want to stop your bathroom mirror from fogging after a hot shower, shaving cream or car wax can help. Grab a microfiber cloth, apply a small amount of either one, let it dry on the mirror, and then buff it clean. Your mirror will remain clear the next hot shower you take.
Light long candles with spaghetti.
During the cold winter months, candles come in handy to make your house feel cozy. Unfortunately, the candle wicks are sometimes too hard to reach
with conventional matches and lighters. There is a solution: If you have uncooked spaghetti, you can use it to light those candles. Light the spaghetti, then put the flame to your wick. You’ll save your fingers from burns
and use more of your candle.
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Take Charge of Your Health Fasting for Vitality Fasting is a popular diet trend at the moment. You can find videos all over the internet about the benefits people have had while engaging in fasting. Fortunately, unlike many fad diets, the fasting trend is positive, as research has shown it offers many health benefits. Here’s a look at a few of those. Why should you fast? When the body stops getting calories, you start burning fat reserves in your body. This fat is sent to the liver and converted into acids called ketones. Ketones are used as fuel to run your body and brain like a backup generator when it doesn’t have food. This process is called ketosis and happens when you fast. Besides burning fat, fasting offers other benefits. • It promotes blood sugar control by lowering insulin sensitivity — so fasting decreases the chances of getting Type 2 diabetes. • Fasting reduces acute inflammation and improves chronic inflammation, which has serious consequences for heart disease, cancer, and other serious conditions. • It improves heart health by lowering cholesterol and blood pressure, decreasing the odds of developing heart disease. • Regular fasting may boost brain function and prevent neurodegenerative disorders. • Fasting helps with weight loss by increasing growth hormone secretion.
Types of Fasting Before engaging in any fasting routine, check with your health practitioner to make sure you are making a choice that aligns with your continued health and wellness. There are many types of fasting, including: • Juice Fasts — You only drink fruit or vegetable juices for the duration of the fast. • Water Fasts — You can only drink water for a regulated period of time. • Intermittent Fasting — This technique restricts food intake, wholly or partially, throughout the day or for part of the week. You can eat as you usually would during the off-hours or days. Fasting, a healthy diet, and exercise offer many health benefits and help keep your body and mind spry as you age. Talk to your doctor to see if fasting could be a reasonable part of your life plan.
TAKE A BREAK
BELL PEPPER SANDWICH Inspired by TheSpruceEats.com The new year is all about new and fresh beginnings. So, why not start the year with a quick, refreshing meal that is both flavorful and nutritious?
Ingredients
• 1 medium bell pepper, any color • 2–3 tbsp cream cheese • 1 tsp whole-grain mustard • 2 oz ham (or other deli meat), thinly sliced
• 1 1/2 oz Swiss cheese, thinly sliced • 1/2 small cucumber, cut into 6–8 thin slices • 2 tbsp guacamole or a few slices of avocado • Dash of salt and pepper
Directions
1. On a cutting board, remove the stem of the bell pepper with a sharp knife. Cut the pepper in half lengthwise and remove the ribs and seeds. 2. Lay the pepper halves on the cutting board and spread cream cheese inside each half. Spread whole-grain mustard on top of the cream cheese. 3. Layer your deli meat, cheese, cucumbers, and guacamole on each bell pepper half. Add a dash of salt and pepper, then combine both halves and serve!
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INSIDE
This Issue
Unraveling Misconceptions About Income Annuities Save Time and Resources With These Handy Tricks
Enjoy Better Health With Fasting
Bell Pepper Sandwich
Skin Signals of Liver Disease You Can’t Ignore
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.
What Your Skin Says About Your Liver Health
You can’t live without your liver. Livers help clean blood, ensuring your body is free from toxins. It also produces bile, an acid that digests waste. Unfortunately, livers can be damaged in a myriad of ways. Catching liver disease early allows doctors to treat it quickly, so it’s crucial to check for any symptoms of liver problems, especially if you are at risk. Yellow Skin Commonly called “jaundice,” a yellowing of the skin and eyes is a telltale sign of liver disease. The liver’s inability to filter out bilirubin causes this unseemly syndrome. This important yellow substance is made during the breakdown of blood cells and used by the body to help digest food. A healthy, functioning liver filters out most bilirubin. Itching Besides jaundice, a common symptom of bilirubin buildup is itchy skin. Bilirubin creates “bile salts” that are deposited into the skin. The result is
intense itchiness. Note that itching can be from a variety of causes, including allergies. Spider Angioma These superficial red marks appear as a mass of tendrils centering around one point and look like a spider. While they are relatively common, an excess of spider angioma can indicate liver problems. Having three or more at a time can be a sign of a more significant issue, including hepatitis, rheumatoid arthritis, or cirrhosis. Red Palms Rashy red palms — or palmer erythema — can point to many problems. Excess estrogen causes this symptom, so hormonal changes are often the culprit. Nonetheless, liver disease makes it difficult for the body to break down estrogen. Easy Bruising Clotting proteins, which help the body repair injuries, are produced in the liver. If the liver is
diseased or damaged, it may produce fewer proteins. In addition, liver disease lowers the amount of blood platelets. This also can cause easy bruising. No one can live without a functioning liver, so protect the health of your liver. Drinking in moderation (or not at all), taking vitamin B, and getting regular exercise can promote a healthy liver.
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