Category Archives: Health

Delta Variant Infecting Unvaccinated

Posted on by

Only about 46 percent of the U.S. population is vaccinated. Politico

In the U.S. Midwest and South, the highly transmissible Delta variant is spreading quickly among the unvaccinated population, according to federal health officials.

But many people who are not vaccinated are also resistant to wearing masks and are ignoring recommendations to avoid crowded indoor spaces, heightening the virus spread. Only about 46 percent of the U.S. population is vaccinated, and the number of doses administered has fallen, according to the Centers for Disease Control and Prevention (CDC).

The federal government will try to convince hesitant Americans to get vaccinated by communicating the benefits of the shots. But, President Biden’s team is not confident that a new campaign will change hearts and minds of the reluctant.

Additionally, the Biden administration acknowledged that the U.S. will not reach its goal of having 70% of adults vaccinated by the July 4th Holiday.

Delta variant

New Covid-19 infections have increased by more than 50 percent over the last two weeks in under-vaccinated states. Many of the cases are tied to the Delta variant, which the CDC says now accounts for one-fifth of new infections nationwide. The Delta variant, which was first identified in India, is more infectious than previous coronavirus strains.

“Based on the data that we have right now, the Delta variant is more transmissible than Alpha,” the strain that has predominated in the U.S. this spring, said Summer Galloway, a senior adviser at CDC.

The CDC is currently in the midst of conducting studies to pin down just how well the current vaccines protect against Delta and what impact it has on the unvaccinated population, particularly children. Additionally, the CDC is studying whether the Delta variant leads to more severe infections in undervaccinated communities.

Ending COVID-19

The hope was that once the nation reached herd immunity, the virus would die out. As a result of the Delta variant, the current level of vaccine immunity is insufficient to end the pandemic in the United States.

The higher the contagion, the larger share of the population must be immune. To end the pandemic, a majority of the unvaccinated in the United States must gain immunity, and the best way is through vaccines

The good news is that recent data shows the Pfizer vaccine is nearly 90 percent effective against Delta, making vaccination one of the most effective ways to stop the variant’s march across the U.S.

The CDC continues to encourage people who are unvaccinated to wear masks and avoid crowded indoor gatherings.

Dr. Michael Ryan, executive director of the WHO’s World Emergencies Programme, said the Delta strain should make the world “more cautious, more diligent, and more dedicated to” following health protocols.

References:

  1. https://www.politico.com/news/2021/06/26/white-house-vaccination-delta-variant-496343
  2. https://www.forbes.com/sites/alisondurkee/2021/06/25/who-urges-fully-vaccinated-people-to-continue-wearing-masks-as-delta-variant-spreads-but-no-word-from-cdc/amp/
  3. https://khn.org/morning-breakout/perspectives-delta-variant-spreading-rapidly-among-unvaccinated-steps-to-avoid-another-pandemic/

U.S. COVID-19 cases hit lowest point

Posted on by

New COVID-19 infections are down in the U.S. to the lowest level since March 2020.

For the past 56 weeks, COVID-19 infections have been tracked nationwide. Currently, the case counts are low and the virus infection rate has been effectively contained.

By the numbers: The U.S. averaged roughly 16,500 new cases per day over the past week, a 30% improvement over the week before. according to the CDC. New cases declined in 43 states and held steady in the other seven.

The official case counts haven’t been this low since Americans went into lockdown in March last year. Overall, roughly 33 million Americans — about 10% of the population — have tested positive for COVID-19 and about 595,000 people have died from the virus in the U.S. since March 2020.

The virus is under control, nationwide and in every state, thanks almost entirely to the vaccines. Just over half of American adults are now fully vaccinated, according to the CDC.

As of May 27, 2021, nearly 133 million people in the U.S. are fully vaccinated, and the national percentage of COVID-19 tests that came back positive over the last 7 days was less than 3%. This is one of the lowest rates the United States has seen since widespread testing began.

Effectively, the U.S. was never able to control the virus without vaccines. The risk is still high for unvaccinated people, as reported by the Washington Post. An average of about 500 Americans per day are still dying from COVID-19, almost all of them unvaccinated.

The U.S. has finally gotten the virus down to a level that just about every public health expert agrees is safe. Fewer than 20,000 cases per day, spread across the U.S. population of 331.5 million people, is a relatively low number of cases, and that number continues to improve every week.

Florida

Florida has more total cases per day — about 1,800, on average — than any other state. But again, that’s spread over a state with over 20 million people, and its numbers are improving just like the rest of the country’s. Florida’s daily case counts fell by 25% just this week.

The bottom line: Cases in the U.S. are low, and they’re likely to stay low. The FDA approved for emergency use vaccines work. They’ve brought COVID-19 infection cases to their lowest levels, and because that improvement is the result of vaccines, there’s no reason to believe the virus will start gaining significant ground again any time soon.

References:

  1. https://www.axios.com/coronavirus-cases-infections-vaccines-success-fa7673a1-0582-4e69-aefb-3b5170268048.html
  2. https://www.cdc.gov/coronavirus/2019-ncov/covid-data/covidview/index.html

Mindfulness and Emotional Well-being

Posted on by

“Cultivate the habit of being grateful for every good thing that comes to you, and to give thanks continuously.” Ralph Waldo Emerson

Mindfulness means maintaining a moment-by-moment awareness of your thoughts, feelings, bodily sensations, and surrounding environment, through a neutral, nonjudgmental filter.

Mindfulness also involves acceptance, meaning that you pay attention to your current thoughts and feelings without judging them—without believing, for instance, that there’s a “right” or “wrong” way to think or feel in a given moment.

When you practice mindfulness, your thoughts tune into what you’re sensing in the present moment rather than rehashing your past or imagining your future.

To be mindful is to be fully conscious or aware of your surroundings. It’s important to not think or worry about the future. Instead, the goal is to physically, emotionally, mentally, and cognitively stay within the present moment.


 
“Mindfulness…is the presence of heart.” Chinese Translation

To discover mindfulness is to discover what happens when you deliberately take time to detect the reality and your perception of the present moment no matter what it’s like—and gradually cultivate ‘an open heart’ to what we notice and sense, asserts teacher Adam Moskowitz. 

Mindfulness Chinese symbol

A Chinese translation for mindfulness is presence of heart. At its core mindfulness is a heart-centered practice. It is a realization of your fundamental wholeness, according to Moskowitz. It is a discovery of your innate care for yourself and one another. It is recognition of the truth of your interdependence—how we rely on one another and how the world relies on us.

Studies have shown that practicing mindfulness, even for just a few weeks, can bring a variety of physical, psychological, and social benefits. Essentially, mindfulness is good for your health, wealth and emotional well-being.

Mindfulness can be cultivated and practiced daily, Jon Kabat-Zinn emphasizes in his Greater Good video. “It’s about living your life as if it really mattered, moment by moment by moment by moment.”

It is essential for our wellbeing to take a few minutes each day to cultivate mindfulness and achieve a positive mind-body balance. Here are a few key components of practicing mindfulness that Kabat-Zinn and others identify:

  • Pay close attention to your breathing, especially when you’re feeling intense emotions.
  • Notice—really notice—what you’re sensing in a given moment, the sights, sounds, and smells that ordinarily slip by without reaching your conscious awareness.
  • Recognize that your thoughts and emotions are fleeting and do not define you, an insight that can free you from negative thought patterns.
  • Tune into your body’s physical sensations, from the water hitting your skin in the shower to the way your body rests in your office chair.

The cultivation of moment-by-moment awareness of our surrounding environment is a practice that helps us better cope with the difficult thoughts and feelings that cause us stress and anxiety in everyday life.

With regular practice of mindfulness exercises, you can harness the ability to root the mind in the present moment and deal with life’s challenges in a clear-minded, calm, assertive way. It’s about the challenges and the rewards of being less self-centered and more self aware.

References:

  1. https://greatergood.berkeley.edu/topic/mindfulness/definition
  2. https://www.withinmeditation.com/blog/2020/10/2/presence-of-heart-what-mindfulness-is-and-isnt
  3. https://greatergood.berkeley.edu/topic/mindfulness/definition#why-practice-mindfulness
  4. https://www.pocketmindfulness.com/6-mindfulness-exercises-you-can-try-today/

2021 Modern Wealth Survey | Charles Schwab

Posted on by

“The past year has of course caused Americans to focus on their health, in particular their mental health, along with the health of their relationships. But the pandemic and the significant impact it had on the economy and stock market also taught us a valuable, and in many cases difficult, lesson about the importance of financial health and preparedness, including the importance of having a plan and emergency savings.”  Rob Williams, vice president of financial planning, Charles Schwab

A majority of Americans (60 percent) are feeling more optimistic about the state of the United States overall, including the economy, the stock market and their personal financial prospects, according to Schwab’s 2021 Modern Wealth Survey. And, more than half feel positive about the U.S. job market, economy and role as a global economic power.

Schwab’s 2021 Modern Wealth Survey is an annual examination of how 1,000 Americans think about saving, spending, investing and wealth. The online survey was conducted from February 1 to February 16, 2021, among a national sample of 1,000 Americans aged 21 to 75.

Recalibrating Priorities and Redefining Wealth

“More than half of Americans were financially impacted by COVID-19 in 2020”

According to Schwab’s survey, more than half of survey participants were financially impacted over the past year, whether the economic environment strained their finances (31 percent), they faced a salary cut or reduced hours (26 percent), or they were laid off or furloughed (20 percent).

In lieu of this recent reality, more than two-thirds (68 percent) of Americans have reprioritized what matters most to them, with 69 percent saying mental health is more important than it was before, followed closely by relationships (57 percent), financial health (54 percent) and physical health (39 percent).

Being financially comfortable

“Americans lowered the bar for what it takes to achieve “financial happiness” and to be “financially comfortable” in 2021”

When it comes to achieving financial peace of mind, Americans say you only need a net worth of $624,000 to be considered “financially comfortable.” That’s down significantly from the $934,000 net worth that Americans cited as the minimum needed for financial comfort last year, according to the Survey.

Additionally, the survey finds that Americans have also revised their perspective on what it takes to be wealthy. It takes $1.9M to be viewed as wealthy, more than double the national average, but down from 2020.

U.S. households had an average net worth of $748,800 prior to the pandemic, according to The Federal Reserve’s 2019 Survey of Consumer Finances. However, the median, or midpoint, net worth of all families was much lower, just $121,700 in 2019.

Some lessons learned or relearned from the pandemic include the importance of being financially prepared and being mindful (and more aware) of your financial, physical, mental and emotional health.

References:

  1. https://www.aboutschwab.com/modern-wealth-survey-2021
  2. https://www.cnbc.com/2021/05/17/net-worth-americans-say-you-need-to-be-financially-comfortable.html
  3. https://content.schwab.com/web/retail/public/about-schwab/schwab_modern_wealth_survey_2021_findings.pdf

Financial Planning 12 Step Process

Posted on by

A financial plan creates a roadmap for your money and helps you achieve your financial goals.

The purpose of financial planning is to help you achieve short- and long-term financial goals like creating an emergency fund and achieving financial freedom, respectively. A financial plan is a customized roadmap to maximize your existing financial resources and ensures that adequate insurance and legal documents are in place to protect you and your family in case of a crisis. For example, you collect financial information and create short- and long-term priorities and goals in order to choose the most suitable investment solutions for those goals.

Although financial planning generally targets higher-net-worth clients, options also are available for economically vulnerable families. For example, the Foundation for Financial Planning connects over 15,000 volunteer planners with underserved clients to help struggling families take control of their financial lives free of charge.

Research has shown that a strong correlation exist between financial planning and wealth aggregation. People who plan their financial futures are more likely to accumulate wealth and invest in stocks or other high-return financial assets.

When you start financial planning, you usually begin with your life or financial priorities, goals or the problems you are trying to solve. Financial planning allows you to take a deep look at your financial wellbeing. It’s a bit like getting a comprehensive physical for your finances.

You will review some financial vital signs—key indicators of your financial health—and then take a careful look at key planning areas to make sure some common mistakes don’t trip you up.

Structure is the key to growth. Without a solid foundation — and a road map for the future — it’s easy to spin your wheels and float through life without making any headway. Good planning allows you to prioritize your time and measure the progress you’ve made.

That’s especially true for your finances. A financial plan is a document that helps you get a snapshot of your current financial position, helps you get a sense of where you are heading, and helps you track your monetary goals to measure your progress towards financial freedom. A good financial plan allows you to grow and improve your standing to focus on achieving your goals. As long as your plan is solid, your money can do the work for you.

A financial plan is a comprehensive roadmap of your current finances, your financial goals and the strategies you’ve established to achieve those goals. It is an ongoing process to help you make sensible decisions about money, and it starts with helping you articulate the things that are important to you. These can sometimes be aspirations or material things, but often they are about you achieving financial freedom and peace of mind.

Good financial planning should include details about your cash flow, net worth, debt, investments, insurance and any other elements of your financial life.

Financial planning is about three key things:

  • Determining where you stand financially,
  • Articulating your personal financial goals, and
  • Creating a comprehensive plan to reach those goals.
  • It’s that easy!

Creating a roadmap for your financial future is for everyone. Before you make any investing decision, sit down and take an honest look at your entire financial situation — especially if you’ve never made a financial plan before.

The first step to successful investing is figuring out your goals and risk tolerance – either on your own or with the help of a financial professional.

There is no guarantee that you’ll make money from your investments. But if you get the facts about saving and investing and follow through with an intelligent plan, you should be able to gain financial security over the years and enjoy the benefits of managing your money.

12 Steps to a DIY Financial Plan

It’s not the just the race car that wins the race; it also the driver. An individual must get one’s financial mindset correct before they can succeed and win the race. You are the root of your success. It requires:

  • Right vehicle at the right time
  • Right (general and specific) knowledge, skills and experience
  • Right you…the mindset, character and habit

Never give up…correct and continue.

Effectively, the first step to financial planning and the most important aspect of your financial life, beyond your level of income, budget and investment strategy, begins with your financial mindset and behavior. Without the right mindset around your financial well-being, no amount of planning or execution can improve your current financial situation. Whether you’re having financial difficulty, just setting goals or only mapping out a plan, getting yourself mindset right is your first crucial step.

Knowing your impulsive vices and creating a plan to reduce them in a healthy way while still rewarding yourself occasionally is a crucial part of a positive financial mindset. While you can’t control certain things like when the market takes a downward turn, you can control your mindset, behavior and the strategies you trust to make the best decisions for your future. It’s especially important to stay the course and maintain your focus on the positive outcomes of your goals in the beginning of your financial journey.

Remember that financial freedom is achieved through your own mindset and your commitment to accountability with your progress and goals.

“The first step is to know exactly what your problem, goal or desire is. If you’re not clear about this, then write it down, and then rewrite it until the words express precisely what you are after.” W. Clement Stone

1. Write down your goals—In order to find success, you first have to define what that looks like for you. Many great achievements begin as far-off goals, that seem impossible until it’s done. Though you may not absolutely need a goal to succeed, research still shows that those who set goals are 10 times more successful than those without goals. By setting SMART financial goals (specific, measurable, achievable, relevant, and time-bound), you can put your money to work towards your future. Think about what you ultimately want to do with your money — do you want to pay off loans? What about buying a rental property? Or are you aiming to retire before 50? So that’s the first thing you should ask yourself. What are your short-term needs? What do you want to accomplish in the next 5 to 10 years? What are you saving for long term? It’s easy to talk about goals in general, but get really specific and write them down. Which goals are most important to you? Identifying and prioritizing your values and goals will act as a motivator as you dig into your financial details. Setting concrete goals may keep you motivated and accountable, so you spend less money and stick to your budget. Reminding yourself of your monetary goals may help you make smarter short-term decisions about spending and help to invest in your long-term goals. When you understand how your goal relates to what you truly value, you can use these values to strengthen your motivation. Standford Psychologist Kelly McGonigal recommends these questions to get connected with your ideal self:

  • What do you want to experience more of in your life, and what could you do to invite that/create that?
  • How do you want to be in the most important relationships or roles in your life? What would that look like, in practice?
  • What do you want to offer the world? Where can you begin?
  • How do you want to grow in the next year?
  • Where would you like to be in ten years?

Writing your goals out means you’ll be anywhere from 1.2 to 1.4 times more likely to fulfill them. Experts theorize this is because writing your goals down helps you to choose more specific goals, imagine and anticipate hurdles, and helps cement them in your mind.

2. Create a net worth statement—To create a successful plan, you first need to understand where you’re starting so you can candidly address any weak points and create specific goals. First, make a list of all your assets—things like bank and investment accounts, real estate and valuable personal property. Now make a list of all your debts: mortgage, credit cards, student loans—everything. Subtract your liabilities from your assets and you have your net worth. Your ratio of assets to liabilities may change over time — especially if you pay off debt and put money into savings accounts. Generally, a positive net worth (your assets being greater than your liabilities) is a monetary health signal. If you’re in the plus, great. If you’re in the minus, that’s not at all uncommon for those just starting out, but it does point out that you have some work to do. But whatever it is, you can use this number as a benchmark against which you can measure your progress.

3. Review your cash flow—Cash flow simply means money in (your income) and money out (your expenses). How much money do you earn each month? Be sure to include all sources of income. Now look at what you spend each month, including any expenses that may only come up once or twice a year. Do you consistently overspend? How much are you saving? Do you often have extra cash you could direct toward your goals?

4. Zero in on your budget—Your cash-flow analysis will let you know what you’re spending. Zeroing in on your budget will let you know how you’re spending. Write down your essential expenses such as mortgage, insurance, food, transportation, utilities and loan payments. Don’t forget irregular and periodic big-ticket items such as vehicle repair or replacement costs, out of pocket health care costs and real estate taxes. Then write down nonessentials—restaurants, entertainment, even clothes. Does your income easily cover all of this? Are savings a part of your monthly budget? Examining your expenses and spending helps you plan and budget when you’re building an emergency fund. It will also help you determine if what you’re spending money on aligns with your values and what is most important to you.  An excellent method of budgeting is the 50/30/20 rule. To use this rule, you divide your after-tax income into three categories:

  • Essentials (50 percent)
  • Wants (30 percent)
  • Savings (20 percent)

The 50/30/20 rule is a great and simple way to achieve your financial goals. With this rule, you can incorporate your goals into your budget to stay on track for monetary success.

5. Create an Emergency Fund–Did you know that four in 10 adults wouldn’t be able to cover an unexpected $400 expense, according to U.S. Federal Reserve? With so many people living paycheck to paycheck without any savings, unexpected expenses might seriously throw off someone’s life if they aren’t prepared for the emergency. It’s important to save money during the good times to account for the bad ones. This rings especially true these days, where so many people are facing unexpected monetary challenges. Keep 12 months of essential expenses as Emergency Fund or a rainy day fund.  If you or your family members have a medical history, you may add 5%-10% extra for medical emergencies (taking cognizance of the health insurance cover) to the amount calculated using the above formula. An Emergency Fund is a must for any household. Park the amount set aside for contingencies in a separate saving bank account, term deposit, and/or a Liquid Fund.

6. Focus on debt management—Debt can derail you, but not all debt is bad. Some debt, like a mortgage, can work in your favor provided that you’re not overextended. It’s high-interest consumer debt like credit cards that you want to avoid. Don’t go overboard when taking out a home loan. It can be frustrating to allocate your hard-earned money towards savings and paying off debt, but prioritizing these payments can set you up for success in the long run. But, as a rule of thumb, the value of the house should not exceed 2 or 3 times your family’s annual income when buying on a home loan and the price of your car should not exceed 50% of annual income. Try to follow the 28/36 guideline suggesting no more than 28 percent of pre-tax income goes toward home debt, no more than 36 percent toward all debt. This is called the debt-to-income ratio. If you stick to this ratio, it will be easier to service your loans/debt. Borrow only as much as you can comfortably repay. If you have multiple loans, it is advisable to consolidate all loans into a single loan, that has the lowest interest rate and repay it regularly.

“Before you pay the government, before you pay taxes, before you pay your bills, before you pay anyone, the first person that gets paid is you.” David Bach

7. Get your retirement savings on track—Whatever your age, retirement planning is an essential financial goal and retirement saving needs to be part of your financial plan. Although retirement may feel a world away, planning for it now is the difference between a prosperous retirement income and just scraping by. The earlier you start, the less you’ll likely have to save each year. You might be surprised by just how much you’ll need—especially when you factor in healthcare costs. To build a retirement nest egg, aim to create at least 20 times your Gross Total Income at the time of your retirement. This is necessary to keep up with inflation. But if you begin saving early, you may be surprised to find that even a little bit over time can make a big difference thanks to the power of compounding interest. Do not ignore ‘Rule of 72’ – As per this rule, the number 72 is divided by the annual rate of return on investment to determine the time it may take to double the money invested. There are several types of retirement savings, the most common being an IRA, a Roth IRA, and a 401(k):

  • IRA: An IRA is an individual retirement account that you personally open and fund with no tie to an employer. The money you put into this type of retirement account is tax-deductible. It’s important to note that this is tax-deferred, meaning you will be taxed at the time of withdrawal.
  • Roth IRA: A Roth IRA is also an individual retirement account opened and funded by you. However, with a Roth IRA, you are taxed on the money you put in now — meaning that you won’t be taxed at the time of withdrawal.
  • 401(k): A 401(k) is a retirement account offered by a company to its employees. Depending on your employer, with a 401(k), you can choose to make pre-tax or post-tax (Roth 401(k)) contributions. Calculate how much you will need and contribute to a 401(k) or other employer-sponsored plan (at least enough to capture an employer match) or an IRA.

Ideally, you should save 15% to 30% from your net take-home pay each month, before you pay for your expenses. This money should be invested in assets such as stocks, bonds and real estate to fulfil your envisioned financial goals. If you cannot save 15% to 30%, save what you can and gradually try and increase your savings rate as your earnings increase. Whatever you do, don’t put it off.

After retiring, follow the ‘80% of the income rule’. As per this rule, from your investments and/or any other income-generating activity, you need to generate at least 80% of the income you had while working. This will ensure that you can take care of your post-retirement expenses and maintain a comfortable standard of living. So make sure to invest in productive assets.

8. Check in with your portfolio—If you’re an investor, when was the last time you took a close look at your portfolio? If you’re not an investor, To start investing, you should first figure out the initial amount you want to deposit. No matter if you invest $50 or $5,000, putting your money into investments now is a great way to plan for financial success later on. Market ups and downs can have a real effect on the relative percentage of stocks and bonds you own—even when you do nothing. And even an up market can throw your portfolio out of alignment with your feelings about risk. Don’t be complacent. Review and rebalance on at least an annual basis. As a rule of thumb, your equity allocation should be 100 minus your current age – Many factors determine asset allocation, such as age, income, risk profile, nature and time horizon for your goals, etc. But you could broadly follow the formula: 100 minus your current age as the ratio to invest in equity, with the rest going to debt. And, never invest in assets you do not understand well.

  • Good health is your greatest need. Without good health, you can’t enjoy anything else in life.

9. Make sure you have the right insurance—As your wealth grows over time, you should start thinking about ways to protect it in case of an emergency. Although insurance may not be as exciting as investing, it’s just as important. Insuring your assets is more of a defensive financial move than an offensive one. Having adequate insurance is an important part of protecting your finances. We all need health insurance, and most of us also need car and homeowner’s or renter’s insurance. While you’re working, disability insurance helps protect your future earnings and ability to save. You might also want a supplemental umbrella policy based on your occupation and net worth. Finally, you should consider life insurance, especially if you have dependents. Have 10 to 15 times of annual income as life insurance – If you are the bread earner of your family, you should have a tem life insurance coverage of around 10 to 15 times your annual income and outstanding liabilities. No compromise should be made in this regard. Review your policies to make sure you have the right type and amount of coverage. Here are some of the most important ones to get when planning for your financial future.

  • Life insurance: Life insurance goes hand in hand with estate planning to provide your beneficiaries with the necessary funds after your passing.
  • Homeowners insurance: As a homeowner, it’s crucial to protect your home against disasters or crime. Many people’s homes are the most valuable asset they own, so it makes sense to pay a premium to ensure it is protected.
  • Health insurance: Health insurance is protection for your most important asset: Your health and life. Health insurance covers your medical expenses for you to get the care you need.
  • Auto insurance: Auto insurance protects you from costs incurred due to theft or damage to your car.
  • Disability insurance: Disability insurance is a reimbursement of lost income due to an injury or illness that prevented you from working.

10. Know your income tax situation—Taxes can be a drag, but understanding how they work can make all the difference for your long-term financial goals. While taxes are a given, you might be able to reduce the burden by being efficient with your tax planning. Tax legislation tend to change a number of deductions, credits and tax rates. Don’t be caught by surprise when you file your last year’s taxes. To make sure you’re prepared for the tax season, review your withholding, estimated taxes and any tax credits you may have qualified for in the past. The IRS has provided tips and information at https://www.irs.gov/tax-reform. Taking advantage of tax sheltered accounts like IRAs and 401(k)s can help you save money on taxes. You may also want to check in with your tax accountant for specific tax advice.

11. Create or update your estate plan—Thinking about estate planning is important to outline what happens to your assets when you’re gone. To create an estate plan, you should list your assets, write your will, and determine who will have access to the information. At the minimum, have a will—especially to name a guardian for minor children. Also check that beneficiaries on your retirement accounts and insurance policies are up-to-date. Complete an advance healthcare directive and assign powers of attorney for both finances and healthcare. Medical directive forms are sometimes available online or from your doctor or hospital. Working with an estate planning attorney is recommended to help you plan for complex situations and if you need more help.

12. Review Your Plans Regularly–Figuring out how to create a financial plan isn’t a one-time thing. Your goals (and your financial standing) aren’t stagnant, so your plan shouldn’t be either. It’s essential to reevaluate your plan periodically and adjust your goals to continue setting yourself up for success. As you progress in your career, you may want to take a more aggressive approach to your retirement plan or insurance. For example, a young 20-something in their first few years of work likely has less money to put into their retirement and savings accounts than a person in their mid-30s who has an established career. Staying updated with your financial plan also ensures that you hold yourself accountable to your goals. Over time, it may become easy to skip one payment here or there, but having concrete metrics might give you the push you need for achieving a future of financial literacy. After you figure out how to create a monetary plan, it’s good practice to review it around once a year.

Additionally, take into account factors such as the following:

  • The number of years left before you retire
  • Your life expectancy (an estimate, based on your family’s medical history)
  • Your current basic monthly expenditure
  • Your existing assets and liabilities
  • Contingency reserve, if any
  • Your risk appetite
  • Whether you have adequate health insurance
  • Whether you have provided for other life goals
  • Inflation growth rate

A financial plan isn’t a static document to sit on — it’s a tool to manage your money, track your progress, and one you should adjust as your life evolves. It’s helpful to reevaluate your financial plan after major life milestones, like getting m arried, starting a new job or retiring, having a child or losing a loved one.

Financial planning is a great strategy for everyone — whether you’re a budding millionaire or still in college, creating a plan now can help you get ahead in the long run, especially if you want to make a roadmap to a successful future.

For additional financial planning resources to create your own financial plan, go to the MoneySense complete financial plan kit.

References:

  1. https://www.pewtrusts.org/en/research-and-analysis/articles/2017/04/06/can-economically-vulnerable-americans-benefit-from-financial-capability-services
  2. https://www.forbes.com/sites/forbesfinancecouncil/2020/05/26/your-mindset-is-everything-when-it-comes-to-your-finances/?sh=22f5cb394818
  3. https://www.schwab.com/resource-center/insights/content/10-steps-to-diy-financial-plan
  4. https://www.principal.com/individuals/build-your-knowledge/build-your-own-financial-plan-step-step-Guide
  5. https://mint.intuit.com/blog/planning/how-to-make-a-financial-plan/
  6. https://www.federalreserve.gov/publications/files/2017-report-economic-well-being-us-households-201805.pdf
  7. https://news.stanford.edu/news/2015/january/resolutions-succeed-mcgonigal-010615.html
  8. https://www.investec.com/content/dam/united-kingdom/downloads-and-documents/wealth-investment/for-myself/brochures/financial-planning-explained-investec-wealth-investment.pdf
  9. https://www.sec.gov/investor/pubs/tenthingstoconsider.html
  10. https://www.nerdwallet.com/article/investing/what-is-a-financial-plan
  11. https://www.axisbank.com/progress-with-us/money-matters/save-invest/10-rules-of-thumb-for-financial-planning-and-wellbeing
  12. https://twocents.lifehacker.com/10-good-financial-rules-of-thumb-1668183707

 

Quote of the Week

Posted on by


“Happiness comes from spiritual wealth, not material wealth. Happiness comes from giving, not getting. If we try hard to bring happiness to others, we cannot stop it from coming to us also. To get joy, we must give it, and to keep joy, we must scatter it.”

Sir John Templeton, an American-born British investor, banker, fund manager, and philanthropist. He created the Templeton Growth Fund, which averaged growth over 15% per year for 38 years.

COVID Vaccine is 100% Effective in Kids Ages 12 to 15

Posted on by

Pfizer said its coronavirus vaccine was 100% effective in preventing COVID-19 in children ages 12 to 15.

In participants aged 12-15 years old with or without prior evidence of SARS-CoV-2 infection, the Pfizer-BioNTech COVID-19 vaccine BNT162b2 demonstrated 100% efficacy and robust antibody responses. The results exceeded those reported in trial of vaccinated 16-25 year old participants in an earlier analysis, and was well tolerated, according to Pfizer. The trial enrolled 2,260 participants in the United States.

There were 18 confirmed COVID-19 infections observed in the placebo group and no confirmed infections in the group that received the vaccine, the company said. That resulted in a vaccine efficacy of 100%. The vaccine was also well-tolerated, with side effects generally consistent with those seen in adults.

Vaccinating children is crucial to ending the pandemic, public health officials and infectious disease experts say. Children make up around 20% of the U.S. population, according to government data. Between 70% and 85% of the U.S. population needs to be vaccinated against Covid to achieve herd immunity, experts say, and some adults may refuse to get the shots.

Pfizer CEO Albert Bourla said the company plans to submit the new vaccine data to the Food and Drug Administration and other regulators “as soon as possible,” with the hope that kids in the age group will be able to get vaccinated before the next school year.

All participants in the trial will continue to be monitored for long-term protection and safety for an additional two years after their second dose.

References:

  1. https://www.pfizer.com/news/press-release/press-release-detail/pfizer-biontech-announce-positive-topline-results-pivotal
  2. https://www.cnbc.com/2021/03/31/covid-vaccine-pfizer-says-shot-is-100percent-effective-in-kids-ages-12-to-15.html

Which COVID Vaccine

Posted on by

The best COVID-19 vaccine for you is the vaccine you can get in your arm the soonest. 

There are three vaccines approved for emergency use by the Food and Drug Administration and some people are tempted to shop around. Some people may want the convenience of the Johnson & Johnson single-dose shot and its low rate of side effects. Others may be interested in the extremely high efficacy of the Pfizer and Moderna two-shot mRNA vaccines.

Which Covid vaccine is best for you? It's the one you can get the soonest.

Bottom line: You should get the vaccine that’s available soonest. All three vaccines approved for emergency use have been shown to be safe and effective against severe complications of COVID-19, the disease caused by the novel coronavirus SARS-CoV-2, according to the Centers for Disease Control and Prevention.

In clinical trials, all three vaccines prevented hospitalizations and death, the worst outcomes of the virus. While these were not the primary outcomes measured (symptomatic infections were), this effectiveness continues to play out in post-vaccination studies. Very few people who have been fully vaccinated are getting sick and even fewer are hospitalized.

All three vaccines produce side effects in patients — but not all patients. Although, there are slight differences in side effects. People who get the J&J vaccine tend to experience fewer of them, but each vaccine produces side effects, mostly mild, in some patients. These side effects are short-lived.

The most common side effect is pain, redness or swelling at the injection site. Other people experienced tiredness, headache, muscle pain, chills, fever or nausea. But most of these side effects were mild to moderate and went away quickly.

Remember, these side effects are a sign that your body is reacting to the vaccine and building immunity to the virus (if you don’t have side effects, that doesn’t mean the vaccine isn’t working), according to Dr. Andrea Klemes, the Chief Medical Officer of MDVIP. They’re a small price to pay to get that protection. They’re also rarer in the general population than they were in clinical trials participants with a higher frequency after the second dose. About 372 out of every million administered doses of the Moderna and Pfizer vaccines lead to a non-serious reaction report, according to the journal Nature. The most frequently reported side effects are headache (22.4%), fatigue (16.5%) and dizziness (16.5%), according to the Centers for Disease Control and Prevention.

The bottom line: You’ve waited this long for the vaccine; you shouldn’t shop around when the opportunity to get the vaccine presents itself. The faster everyone gets vaccinated, the faster we will be able to return to normal.

References:

  1. https://www.mdvip.com/about-mdvip/blog/which-covid-vaccine-should-you-get
  2. https://www.cdc.gov/mmwr/volumes/70/wr/mm7008e3.htm

Omega-3 EPA and DHA

Posted on by

When it comes to the benefits of omega-3 fish oil supplementation, the evidence shows that it benefits both the mind and heart.  Our brains, hearts, and bodies appear to suffer when we don’t get enough of these healthy and essential fats. In terms of brain and heart health, omega-3s derived from wild cold water fish oil (or grass-fed animal fat and other kinds of seafood) are best because they are loaded with two particular brain- and heart-healthy essential fatty acids (EFAs) called eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA).

A Harvard School of Public Health study published in 2011 found that omega-3 deficiency is likely the sixth biggest killer of Americans, and maybe the underlying factor of roughly 96,000 premature deaths each year!

What Are the Benefits of Omega-3 Supplements?

Scientific Benefits of Omega-3 Supplements | BrainMD

First, the most important fact to remember about omega-3 essential fatty acids (EFAs) is that they are indeed essential, meaning that your body needs to get them from your diet. Unfortunately, with today’s modern diet, which is light on omega-3-rich foods (fish, grass-fed meats, nuts, seed and dark leafy greens) and heavy on foods with saturated fats and oils (corn, safflower, soybean, sunflower, cottonseed, peanut, etc.) that are rich in omega-6 EFAs.

The American Heart Association recommend at least two oily fish meals per week (which equates to roughly 500 mg per day of EPA and DHA), a full gram per day for those with coronary heart disease—and even more for those with high triglyceride levels—there’s good reason.

  • Inflammation. Studies indicate that DHA and EPA from fish oil may support healthy inflammation levels in the body.10 Keeping inflammation levels in check supports a healthy vascular system.
  • Blood pressure and heart function. Research has also correlated adequate amounts of DHA and EPA with healthy blood pressure levels.11 And while still inconclusive, some studies have shown that EPA and DHA may play a role in healthy heart rhythm.12
  • Triglycerides. Having a high level of triglycerides, a type of fat (lipid) in your blood, can increase your risk of heart disease. A very strong body of research suggests that DHA and EPA help to maintain healthy triglyceride levels.13

Our brains, hearts, and bodies appear to suffer when we don’t get enough of these healthy fats. In terms of brain and heart health, omega-3s derived from wild cold water fish oil are best because they are loaded with two particular brain- and heart-healthy EFAs called eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA). Literally, thousands of scientific studies have been conducted using fish oil rich in these two nutritional dynamos—with mostly promising results.

Major Benefits of EPA and DHA For Your Health

It has been scientifically demonstrated that your brain needs the omega-3 fatty acids EPA and DHA to function optimally. Though not technically classed as essential, these fatty acids are called essential for a reason – our bodies need them, and the only sure way to get enough of them is through foods or supplements. Let’s take a closer look at these two most important omega-3 fatty acids.

Power Team: EPA + DHA

Humans need a variety of fatty acids for our cell membranes to function. EPA (eicosapentaenoic acid) and DHA (docosahexaenoic acid) are essential to the functioning of all our 30 trillion cells. They’re building blocks for the membrane systems that do most of the heavy lifting for our cells.

We require premade EPA+DHA from our diet. Unfortunately, the modern diet has an unhealthy balance of fatty acids: we get an abundance of saturated and omega-6 fatty acids and not nearly enough omega-3s. Also, most of the omega-3s we do get must be converted to EPA+DHA, which the body doesn’t do effectively.

Numerous surveys indicate populations that don’t consume a lot of seafood (such as the U.S.) don’t get sufficient supplies of EPA and DHA from their diet. Since plant foods don’t supply them, the main dietary sources of EPA and DHA are cold-water fish and dietary supplements. Considering the widespread contamination of seafood by mercury and other toxins, many experts advise that taking a purified fish oil supplement could be a smart choice.

 1. Promotes Healthy Mood

EPA+DHA have been tested on adults with mood problems in at least 26 randomized, controlled clinical trials. Two meta-analyses, which analyze the data pooled from all the best trials, have concluded that these omega-3s are consistently beneficial for mood. These meta-analyses also suggest that fish oils with more EPA than DHA work better, with the best ratio being around 1.5 to 1 EPA to DHA.

Children and adolescents with mood difficulties commonly have problems with academic performance, self-esteem, and socialization. In two clinical trials with youth aged 7-14 years, EPA+DHA 1600 mg per day (1400 mg EPA, 200 mg DHA) for 12 weeks substantially improved coping with distraction and stress – as well as mood, irritability, and self-esteem – compared with placebo.

 2. Improves Attention and Behavior

Children and adolescents with attention and learning challenges often have low Omega-3 Index values (about 3% on average, compared to a healthy 8% or higher). A 2018 meta-analysis concluded that supplementation with EPA+DHA improved parental reports of attention and behavior, as well as mental focus on cognitive tests. The researchers concluded that to ensure the most benefit, the EPA dose should be at least 500 mg per day.

 3. Essential for the Heart and Circulation

Numerous health agencies worldwide recommend EPA and DHA for promoting and enhancing cardiovascular health. Meta-analyses clearly indicate that supplementation with EPA+DHA at doses of 2-3 grams per day can promote healthy triglyceride status and blood pressure regulation. Additionally, EPA+DHA supplementation can improve blood vessel function, especially their capacities for relaxation and flexibility.

 4. Supports Healthy Immunity

The immune system is the body’s security force. When the body is invaded, it goes on full alert to eliminate the threat. EPA and DHA support healthy immune responsiveness.

Having sufficient EPA+DHA in our tissues gives the immune system the option to generate messengers from them to coordinate its activities. Healthy immunity is held in delicate balance by EPA and DHA. No other omega-3s can substitute for EPA and DHA in this crucial role.

 5. Vital for Healthy Pregnancy

Babies of mothers who have good EPA+DHA status through pregnancy have a lower risk for problems with mood, cognition, and behavior in their early childhood. DHA, the predominant omega-3 in our cell membranes, is essential to the developing fetal heart, brain, and retina.

A meta-analysis of 38 trials concluded that children born to mothers with higher prenatal EPA+DHA intakes show better motor, vision, and cognitive development in their first two years of life. Yet U.S. women on average have considerably lower EPA+DHA intakes than recommended by the U.S. National Institute of Medicine.

 6. Total Brain and Body Protection

EPA and DHA have been shown to protect brain circulatory function and preserve memory and other cognitive capacities. EPA and DHA support many other organs and body systems including the liver (by preventing triglyceride buildup), the joints (promoting joint comfort), eyes (essential for retinal function), and muscles (protecting against mobility loss as we age).

With strong evidence supporting the positive effects of omega-3s EPA and DHA on the brain, heart, and entire body, taking a fish oil supplement daily can have a significant impact on individual wellness. BrainMD is proud to recommend its new, high EPA and DHA premium liquid fish oil…

https://twitter.com/yourwellbeing88/status/1278666518390165505?s=20

References:

  1. https://brainmd.com/blog/omega-3s-the-supplement-your-mind-and-heart-can-get-behind/
  2. https://brainmd.com/blog/benefits-of-epa-and-dha-fish-oil-supplements/

What to Expect after Getting a COVID-19 Vaccination

Posted on by

Adverse reactions are usually mild to moderate in intensity and resolve within a few days following receipt of the Moderna COVID-19 vaccine, according to the CDC. The most common adverse reactions reported after vaccination in clinical studies included:

  • Pain at injection site (92.0%)
  • Fatigue (70.0%)
  • Headache (64.7%)
  • Muscle pain (51.5%)
  • Joint pain (46.4%)
  • Chills (45.4%)
  • Nausea/vomiting (23.0%)
  • Axillary swelling and tenderness of the vaccination arm (19.8%)
  • Fever (15.5%)
  • Injection site swelling (14.7%)
  • Injection site redness (10.0%)

It takes time for your body to build protection after any vaccination. COVID-19 vaccines that require 2 shots may not protect you until about 2 weeks after your second shot.

After receiving the COVID-19 vaccination, the side effects you may experience are normal signs that your body is building protection and they should go away in a few days.

References:

  1. https://www.cdc.gov/coronavirus/2019-ncov/vaccines/expect/after.html