Bridgeriver, LLC - November 2020

Bridgeriver, LLC - November 2020

NOVEMBER 2020 Nest Egg

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If you visit USDebtClock.org , you will see a webpage covered in numbers. Up top, the website shows the national debt in real time. At the moment, it’s at about $26.8 trillion. You can see the numbers that contribute to the overall national debt, including federal spending and the federal budget deficit. You can also see federal tax revenue. You know we’re headed for trouble as a country when the president and other government officials start throwing out the word “war” in press conferences. I’m not necessarily talking about war in the traditional sense but in a more casual use. Think about phrases like the “war on COVID-19” or the “war on crime.” When the word gets used casually, it tends to let the people who use it get away with more than they normally could. It’s a buzzword, and it gets people’s attention. It creates a sense of urgency and fear. Using the “war on COVID-19” as an example, it gives officials more leeway when it comes to spending and adding to the debt. You can think of the national debt as your own spending. That big red number is all of your debts combined — your mortgage, your car payments, your credit card payments, and so on. The big green number to the right of the national debt is like your paycheck. It’s what you’re bringing in. Obviously, if we’re equating your income and expenditure to the national debt, there’s a huge discrepancy. The income of this household isn’t going to catch up with the debt. Higher Taxes, Inflation, and Your Retirement Are You Prepared for the Coming Years?

Secrets of Wills and Trusts Seminars November 3–4 at Filippas, 12:00–1:00 P.M. November 11–12 at Troy Community Center, 1:00–2:00 P.M. Space is limited! Register today at BridgeriverLLC.com

If the Fed decides to raise rates, the interest on the debt will increase to the point where there will be little, if any, revenue left for government expenditures past Social Security and Medicare/Medicaid. So, how do we contribute to paying down the debt? Options are limited at this point, which makes raising taxes a primary option. Or we can print more money. But this will only work if the Gross Domestic Product (GDP) increases and we see significant job growth. These things help mitigate inflation, which can often occur after printing more money. Here’s another challenge: If taxes are raised or more money is printed (or both), the result could be a recession. That’s the last thing we want going into 2021. And when taxes go up and inflation increases, who gets to pay for it? It lands on the shoulders of the people who did everything right — the people who saved and planned for the future. These are people who are thinking about retirement. It’s right around the corner, and they have a lot of money saved up. Here’s the thing: As of right now, your taxes have not gone up. Inflation hasn’t increased. This is the perfect opportunity to plan for what may happen next. You can set up accounts to put money in the proper buckets. One great way to do that is to pay taxes on your retirement money now. Contribute to a Roth IRA or covert money from a traditional IRA or 401(k) into a Roth.

That aside, there are a few other numbers of note on this “wall of numbers.” In the box below the debt and deficit clocks are the four largest budget items:

1. Medicare/Medicaid — $1.3 trillion

3. Defense/War — $700 billion

4. Interest on Debt (Net) — $340 billion

2. Social Security — $1.09 trillion

All the numbers associated with these four expenses are rising fast.

To add to this complex situation, the Fed has basically lowered interest rates as low as they can go. So, if the Fed needs to take action because of issues related to inflation or more economic volatility, they can’t. There’s nowhere to safely put money in the short term. At the moment, the only place to make money is in the stock market. This low rate environment is what has, largely, helped fuel the growth we’ve seen in the stock market. All of these things combined put us in a challenging position.

This is one way to take care of a large tax burden now. In the coming years, it’s one less thing you have to think about, especially if taxes go up in the next five, 10, or 20 years. If you want to learn more about preparing for the future, check out my live events and webinars on our website at BridgeriverLLC.com. Be ready for the upcoming tax tsunami.

-Dan Casey

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WHAT’S THE BIG DEAL ABOUT BIRKIN BAGS? A CLOSE LOOK AT HOLLYWOOD’S FAVORITE PURSE

This summer, Cardi B made headlines when she gave Megan Thee Stallion an extravagant gift: a custom Birkin bag. If you follow celebrity culture, you’ve probably heard about Birkin bags before. They’ve been hot among the Hollywood elite for years, spawning thousands of magazine articles and Instagram posts. Kim Kardashian, Lady Gaga, and Victoria Beckham have all been spotted carrying them. But what exactly is it that makes a Birkin bag so special? It’s just a purse, right? Maybe not. On the surface, there’s nothing stunning about a Birkin bag. The Hermès bags have two handles, classic lines, and tiny feet on the bottom. Usually, Birkin bags come with gold hardware, a raincoat (not for the human — for the purse), and a miniature lock and key to keep the owner’s valuables secure. You can find them in every imaginable color, from bright red to turquoise blue.

What stands out the most about a Birkin is the price tag: The handbags start at $12,000 and have sold at auction for over $200,000. Part of the allure is the materials: crocodile skin, gold, and diamonds. Another factor is the limited supply. According to Forbes, in 2015, some Birkin bag waiting lists stretched up to six years long. When something is rare and mind-blowingly expensive, it acquires a certain cachet. Combine this prestige with a timeless look, and it’s no wonder the popularity of Birkin bags has endured. Last but not least, one must consider the power of the Hermès brand. Hermès was founded in Paris in 1837. Originally, its workers made saddles, bridles, and other riding gear for the European nobility. Then, the company expanded its wares to bags for carrying saddles and eventually clothing, travel bags, and perfumes. This long pedigree has made Hermès one of the most trusted luxury brands in

the world. Even

today, top- shelf items like Birkin bags are made entirely by hand, using a 200-year-old French

stitching technique. On top of being hand-sewn, they’re hand-polished and hand-painted. These techniques make each bag an art piece. Considering all this, there’s no question as to why Cardi B settled on a custom Birkin bag as the best gift for Megan Thee Stallion to celebrate their single, “WAP,” hitting No. 1 on the Billboard Hot 100.

BORED ON THANKSGIVING? PLAN A MOVIE MARATHON!

5 THANKSGIVING FLICKS FOR THE WHOLE FAMILY After a giant Thanksgiving meal, it can be tempting to sink down onto the couch and never get up — so embrace it! This Thanksgiving, try planning a family movie night to enjoy while the turkey settles.

2. ‘A Charlie Brown Thanksgiving’ — This old-school television special from 1973 is a Thanksgiving classic. In it, Charlie Brown and Snoopy navigate football, an ever-growing Thanksgiving guest list, and a backyard feast of junk food. 3. ‘Garfield’s Thanksgiving’ — Everyone loves Garfield, and this 1989 television special starring Jon, Odie, and the fat cat himself is another Thanksgiving mainstay. The vet puts Garfield on a diet at the worst possible time: right before Thanksgiving. 4. ‘An Old-Fashioned Thanksgiving’ — This 2008 period drama is based on a short story by Louisa May Alcott and tells the tale of an estranged family who find themselves back together just in time for the holidays. It’s historical, heartwarming, and fit for all ages. 5. ‘A Family Thanksgiving’ — This Hallmark comedy is a funny combination of “A Christmas Carol” and “17 Again.” A high-powered lawyer is transported to an alternate universe and gets a look at what her holiday life could have been like if she’d made different choices.

Movie nights are about as low maintenance as family hangouts can get. According to Elle magazine, actress Angelina Jolie credits family flick marathons for helping her survive quarantine with six kids at home. Her

secrets to success are comfortable clothes like pajamas and robes, along with plenty of movie snacks. This Thanksgiving, plan your marathon around these holiday-themed films. 1. ‘Free Birds’ — This hilarious 2013 animated film stars Owen Wilson and Woody Harrelson as turkeys who have escaped the Thanksgiving table. Together, they go on a mission back in time to break up the first Thanksgiving and get turkey off the menu for good.

With these five films on your watch list, you won’t need any other Thanksgiving entertainment!

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Pay attention to your cuticles.

During this year of pandemic chaos, we’ve all limited our trips outside of the house. Odds are that in the last few months, you’ve skipped at least one visit to the hair stylist, spa, or nail salon — and you’re probably noticing the difference! If your nails look worse for wear, it’s time to take action before the holidays. To get salon-quality nails at home (or pamper your partner with an in-home spa day), use these tips and tricks to take a simple coat of polish to the next level.

Your cuticle is the thin layer of skin along the bottom edge of your fingernail, and it can get in the way

GET A SALON- QUALITY MANICURE AT HOME

of a professionally manicured look. To prepare your “canvas” for polish, use a cuticle remover liquid like Butter London ($18 on Amazon and recommended by Byrdie) and/or cuticle clippers to push back your cuticles and remove dead skin.

CELEBRITY TIPS FOR BEAUTIFUL DIY NAILS

Use the 3-layer approach.

Shape your nails like a pro.

There are three layers to a beautiful manicure: the primer or base coat, the polish, and the top coat. According to celebrity manicurist April Foreman, the nail genius behind Charlize Theron and Natalie Portman’s paint jobs, a good primer is the foundation of a perfect manicure. The primer can be clear or nude and goes on before the colored polish to even out imperfections. After both the primer and polish layers dry, add a clear topcoat for a varnished look. With these tips in your back pocket, you’ll have no problem taking your manicure into your own hands (pun intended)!

One thing that people often forget when doing their own nails is to shape them with clippers and a file. This is one of the most important parts of a manicure because nail shapes go in and out of style. According to Cosmopolitan, the “coffin” nail is trending right now thanks to celebrities like Kylie Jenner, Khloé Kardashian, and Ariel Winter. This shape is ideal for long nails and features tapered sides and a straight edge across the top. For a lower maintenance nail, try the “squoval,” a square-oval hybrid with a gently curved tip.

HAVE A LAUGH

Turkey and Oatmeal Dog Treats

Inspired by DogTipper.com

Share those Thanksgiving turkey leftovers with your pup by turning them into crunchy oatmeal cookies. Your dog will be begging for them at breakfast and dinner!

Ingredients

• • •

1 3/4 cups whole-wheat flour 2 1/2 cups quick-cooking oats

•

1 cup turkey or chicken broth

1 tsp baking powder

•

1 1/2 cups shredded turkey

Directions

1. Preheat oven to 350 F. 2. In a large bowl, mix flour, oats, and baking powder and set aside. 3. In a blender, add broth and turkey and pulse until it’s the consistency of baby food. 4. Add the meat mixture to the dry ingredients

5. Roll out the dough and cut it into fun shapes, like bones, leaves, or turkeys. 6. Place on a cookie sheet and bake for 25 minutes or until golden brown. 7. Let cool, then your dog can indulge in the flavors of the season!

and mix it well. Then, on a lightly floured surface, turn out the dough and knead it.

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INSIDE This Issue

Are You Ready for What Happens Next? What’s the Big Deal About Birkin Bags? 5 Thanksgiving Movies for the Whole Family How to Get a Salon-Quality Manicure at Home

Turkey and Oatmeal Dog Treats Black Friday: COVID-19 Edition

BLACK FRIDAY: COVID-19 EDITION How to Turn the Shopping Holiday Into a Stay-at-Home Family Event A string of retail stores, including JCPenney, Bed Bath & Beyond, Walmart, Target, Kohl’s, and Dick’s Sporting Goods, have declared they won’t be open for the traditional Thanksgiving and/or Black Friday shopping this year. But that doesn’t mean the annual shopping holiday is canceled! If you’re an avid Black Friday shopper, you can keep the tradition going and involve the whole family by using the day to shop online. Here are a few tips to get everyone involved in the fun and turn the holiday into an overnight party. Refuel with caffeine. No all-night shopping spree is complete without a coffee run. To keep your family fueled, make sure to stock up on your favorite coffee in advance and set a time for a coffee break. It’s not quite the same as taking a break at the mall’s Starbucks, but it will help you power through the night. For an extra bit of fun, you can even

try to recreate your favorite Starbucks drinks at home. ChowHound.com is a great resource for DIY recipes and has hacks for the caramel frappuccino, pumpkin spice latte, and more. Celebrate with a big breakfast. When you’ve finally dropped the last item into your virtual cart, it’s time to celebrate! Depending on how long your spree took, it might be 3 a.m., or you might be able to see the sunlight peeking through your blinds. Either way, you deserve to reward yourself with breakfast. Try cooking your favorite breakfast foods as a family or, if it’s late enough, order home-delivered pancakes and hashbrowns from your favorite local restaurant. Once you’re stuffed, you can crawl into bed knowing that you had a fantastic family night.

Divide and conquer. Does your whole family love shopping? If they do, it’s time to break out the laptops, cellphones, and tablets. Take the list of items you’re hoping to snag and divide them up so that each person has things to browse for. Then choose a start time — midnight is always good — and let everyone loose to bargain hunt. While you’re shopping, remember to use store apps, websites like RetailMeNot and Groupon, money-saving browser extensions like Honey, and price-comparison apps like Flipp to score the best deals.

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