Daily COVID-19 Infections, Hospitalizations and Deaths Declining

COVID-19 Cases Are Dropping Fast. Four reasons: social distancing, seasonality, seroprevalence, and shots.

COVID-19 is in retreat in America. New daily cases have plunged, and hospitalizations are down almost 50 percent in the past month. The reason for the decline range Americans’ good behavior in the past month combined with (mostly) warming weather across the Northern Hemisphere has slowed the pandemic’s growth; at the same time, partial immunity and vaccines have reduced the number of viable bodies that would allow the coronavirus to thrive.

The current decline of COVID-19 is crystal clear.

There has been a five-week downward trend in cases, according to data collected by the Centers for Disease Control and Prevention. The highest 7-day moving average occurred on January 11, 2021 and was 249,048. The current 7-day average is 77,385 cases, which is a 68.9% decline.

Furthermore, the 24.5% decrease in the 7-day average number of daily cases reported compared with the prior week also provides an encouraging sign of recent progress. Even with these declines, however, the 69,165 cases reported on February 17 remains higher than what was seen during either of the first two peaks in the pandemic.

Daily Trends in COVID-19 Cases

The numbers of new hospital admissions of patients with confirmed COVID-19 have decreased from the national peak of 18,006 admissions on January 5, 2021 to 6,841 admissions on February 16 (a 62% decrease). The average number of daily admissions fell by 21.8% compared to the previous week.

Nationally, the number of COVID-19 deaths continue to fluctuate. There has been over 500,000 total COVID-19 deaths reported with 2,601 new deaths reported as of February 23, 2021. The 7-day average number of new deaths decreased by 9% to 2,708** new deaths per day compared to the previous 7-day period.

Why the decline?

Americans’ good behavior in the past month combined with warming weather across the Northern Hemisphere to slow the pandemic’s growth; at the same time, partial immunity and vaccines have reduced the number of viable bodies that allow the coronavirus to thrive.

According to a piece that ran in the Atlantic.:

1. Behavior: Americans finally got on board with wearing a mask and social-distancing thing.

Officials pointed to Google mobility data that demonstrated that Americans withdrew into their homes after the winter holidays and hunkered down during the subsequent spike in cases that grew out of holiday season socializing. New hospital admissions for COVID-19 peaked in the second week of January—another sign that social distancing during the coldest month of the year bent the curve.

2. Seasonality: The coronavirus is perhaps seasonal and destined to decline.

Behavior can’t explain everything regarding the decline. Mask wearing, social distancing, and other virus-mitigating habits and behaviors had some impact. But bottomline, COVID-19 is in retreat across North America and Europe. Since January 1, daily cases are down 70 percent in the United Kingdom, 50 percent in Canada, and 30 percent in Portugal. This raises the possibility that SARS-CoV-2, the virus that causes COVID-19, is seasonal.

Many viruses fare best in cold and dry conditions; they’re not well designed to thrive in warmer, sunnier, and more humid outdoor areas, Harvard epidemiologist Michael Mina told New York magazine. Each virus is a bundle of genes and protein encased in a fatty lipid molecule. This fatty shell breaks down more easily in warmer and more humid environmental conditions.

3. Partial immunity: The virus is running out of bodies to infect

The coronavirus needs bodies in order to survive and replicate, and it now has access to fewer welcome hosts. Fifteen to 30 percent of American adults have already been infected with COVID-19, according to CDC estimates.

America’s seroprevalence—that is, the number of people with coronavirus antibodies from a previous infection—is probably concentrated among people who had little opportunity to avoid the disease.

This is partial immunity among the very populations that have been most likely to contract the disease, perhaps narrowing the path forward for the original SARS-CoV-2.

4. Vaccines: Despite naysayers and a few reluctant family members, the shots work.

The vaccines are highly effective at preventing infection. But preventing infection is not all they do. Among those infected, they also reduce symptomatic illness. And among those with symptoms, they reduce long-term hospitalization and death to something like zero.

It’s simple to show why this period of declining hospitalizations should keep going. Assuming the CDC is correct that about 25 percent of adults have COVID-19 antibodies from a previous infection and add to that number the 10 percent of adults who have received vaccine shots since December, that would mean one-third of adults currently have some sort of protection, either from a previous infection or from a vaccine. Thus, sometime this spring, half of American adults should have some kind of coronavirus protection.

Although the pandemic is far from over, the U.S. has reached the beginning of the end of COVID-19 as a threat to the health-care system and the senior citizen population.


References:

  1. https://www.cdc.gov/coronavirus/2019-ncov/covid-data/covidview/index.html
  2. https://www.theatlantic.com/ideas/archive/2021/02/why-covid-19-cases-are-falling-so-fast/618041/

6 simple ways to take action in your financial life without hurting your long-term goals | Vanguard

“It’s natural and human to feel like you need to take action and “do” something–anything–to stay in control and protect your financial interests.”

Scientific studies have shown that the human brain really likes to feel in control. We’re built to take action to protect ourselves and the people we love when signs point to trouble.

That’s why when markets become volatile, it’s natural and human to feel like you need to take action and “do” something–anything–to stay in control and protect your financial interests. You might feel anxious or worried. Don’t worry; you’re not alone in feeling that way.

Taking action during uncertain times may help you feel more confident about the way things will turn out. That said, if you feel like you need to make changes to your portfolio, it’s important to make sure that the action you take won’t put your long-term financial goals in jeopardy.

Here are some things you can do to feel in control without losing sight of the bigger picture:

Run some numbers

If you feel you have to do something, consider starting with your calculator. Numbers can give you a rational way of framing things that can settle some of those anxious feelings. For example, you can analyze how market conditions have affected your portfolio and compare it with the expectations you had based on your risk tolerance. Or compare your current asset mix with your target and rebalance if it differs by 5 percentage points or more.

Speak the language of action

Describing your strategy as “staying the course” or “doing nothing” may make you feel you’re not doing enough. Instead, describe what you’re doing as fighting the impulse to get out of the market or giving your portfolio an opportunity to rebound. You’re trusting your mix of assets to get you through market ups and downs, and that takes mental strength. Give yourself credit where it’s due.

Talk it over

Consider sharing your plan of action with others. Take a look at the Vanguard Blog for inspiration. When other people show support for what you’re doing and chime in that they’re doing it too, it can make you feel good about your choices. Helping others when they have questions can also go a long way toward building your confidence.

Take comfort in history

So far, every market downturn in history has been followed by a rebound. We don’t know when it will happen or how big it will be, but there’s good reason to believe that better times are ahead.

Think about what you can control

If you’re saving for retirement, you may be able to control how much you save or how long you can save (if you have a retirement date in mind). If you’re retired, you may be able to adjust the percentage of your portfolio you withdraw during a market downturn.

Your spending habits are within your control too. Of course, it’s probably not realistic to expect that you’ll start clipping coupons, switch to generic brands, and skip your afternoon coffee run all at once. Try cutting down your spending in just one area at a time to see what works best for your life.

We recognize that this is your portfolio, and you control your asset mix. We don’t recommend changing your asset mix in response to market movement, but if you’re determined to make a change to your portfolio, make it a small one. Some examples of small things you can do: Direct one of your stock funds’ investment earnings to a bond fund, or change the asset mix of a single account rather than your entire portfolio.

Lean in

Lean on personal financial advisors to provide you with the leadership you need to make it through uncertain times. Trusting a financial expert to bring order to a situation that feels out of control can help you ease anxious feelings.


Source: https://investornews.vanguard/6-simple-ways-to-take-action-in-your-financial-life-without-hurting-your-long-term-goals/?cmpgn=BR:OSM:OSMFB:OTHERS:072920:TXL:OTM:xx::OTHR:OTH:OTS:XXX::XX&sf235757186=1

Note: All investing is subject to risk, including possible loss of the money you invest. Diversification does not ensure a profit or protect against a loss.

A Moral and Economic Imperative to End Racism

The U.S. “has both a moral and economic imperative to end these unjust and destructive practices” of institutionalized racism. Raphael Bostic, President and CEO, Federal Reserve Bank of Atlanta

“Over the course of American history, the examples of such institutionalized racism are many, and include slavery, federal law (consider the Three-Fifths Compromise our founding fathers established to determine federal representation), sanctioned intimidation during Reconstruction, Jim Crow laws in southern states, redlining by bankers and brokers, segregation, voter suppression, and racial profiling in policing.”

Dr. Raphael W. Bostic, Federal Reserve Bank of Atlanta

“These institutions hurt not only the African Americans they’ve targeted, but the systemic racism they’ve codified also hurt, and continues to hurt, America and its economy. By limiting economic and educational opportunities for a large number of Americans, institutionalized racism constrains this country’s economic potential. The economic contributions of these Americans, in the form of work product and innovation, will be less than they otherwise could have been. Systemic racism is a yoke that drags on the American economy.”

“To be fair, we have made some progress. Legal reforms have erased many of those historical institutions that caused so much pain and violence, and further reform essential for helping end harmful practices is under way in many places. But the legacies of these institutions remain, and we continue to experience misguided bias and prejudices that stem from these stains on our history. These have manifested in the worst way possible—in the deaths of George Floyd, Breonna Taylor, Ahmaud Arbery, Dana Martin, and, sadly, so many others.”

“It is time for this cycle to stop. It is time for us to collectively embrace the promise of an inclusive America, one where everyone can participate fully. We are each being challenged to rise to this occasion through education and action. All of us, especially our white allies, must learn the history of systemic racism and the ways it continues to manifest in our lives today. Furthermore, we all must reflect on what we can do to effect change at every turn.”

“A commitment to an inclusive society also means a commitment to an inclusive economy.”

To read the entire text: https://www.frbatlanta.org/about/feature/2020/06/12/bostic-a-moral-and-economic-imperative-to-end-racism


Dr. Raphael W. Bostic is president and chief executive officer of the Federal Reserve Bank of Atlanta. He is a participant on the Federal Open Market Committee, the monetary policymaking body of the Federal Reserve System.

Financial Life Planning

“People have the potential to live longer than any other time in history. This gift of extra time requires that we fundamentally redefine retirement and our life journeys leading up to it.” What is “Retirement’?  Transamerica Center for Retirement Studies

Financial Life Planning connects the dots between our financial realities, our values and the lives we long to live. It helps both pre-retirees and retirees identify their core values and connect them with their financial decisions and life goals. It is an financial planning and investing approach which helps people manage their portfolio.

Financial life plan focuses on the human side of financial planning, including people’s anxiety, habits, behaviors and other emotions (e.g., fear and greed) tied to investing money and accumulating wealth. People struggling with retirement and other finances really need a plan that helps them manage their attitudes, habits, goals and resources.

George Kinder, known to most as the “father” of the life planning, is the founder of Kinder Institute. He views life planning as “a way of holistically delivering financial planning that focuses on delving into people’s real goals, beyond just their financial concerns, in an effort to help them use their money to deliver freedom into their lives”.

Financial Life Planning combines personal finance and wellness. It spends time to discussing life planning and to building an intentional life. There is more to living a life of freedom and purpose than money and wealth. To live a life of freedom and purpose, people are encouraged to consider George Kinder’s famous Three Questions, which are:

Question 1: Design Your Life

“I want you to imagine that you are financially secure, that you have enough money to take care of your needs, now and in the future. The question is, how would you live your life? What would you do with the money? Would you change anything? Let yourself go. Don’t hold back your dreams. Describe a life that is complete, that is richly yours.”

Question 2: You have less time

“This time, you visit your doctor who tells you that you have five to ten years left to live. The good part is that you won’t ever feel sick. The bad news is that you will have no notice of the moment of your death. What will you do in the time you have remaining to live? Will you change your life, and how will you do it?”

Question 3: Today’s the day

“This time, your doctor shocks you with the news that you have only one day left to live. Notice what feelings arise as you confront your very real mortality. Ask yourself: What dreams will be left unfulfilled? What do I wish I had finished or had been? What do I wish I had done? ”

Society tends to attribute personal and professional success to the acquisition of material things and the accumulation of wealth. Most of us find ourselves inextricably caught in a cycle of earning, spending, and investing often induced by societal and peer pressures to fit into a perceived definition of success.

And in spite of this, how many times have we heard from even well-to-do friends, acquaintances and relatives that they are not exactly happy with how their lives have shaped up, how they don’t enjoy what they are doing, how they are drowning in debt or living paycheck to paycheck, or how they don’t have any time to pursue their dreams and interests?

If you look closely, there is a common undercurrent running across all these statements that we find ourselves ‘enslaved’ to a script or lifestyle broadcast by social media which was not exactly aligned to our values and innermost dreams.

No one ever wanted to spend more time in the office

“No one ever said on their deathbed ‘I wish I’d spent more time at the office.’ ” Harold Kushner

Having read many anecdotal reports regarding end of life issues, it is important what truly matters to most people in the end. Typically, people do not say that they wish they had earned more money, spent more time at work, or had one more side hustle.

Most often instead, they wish they had spent more time with family and friends. They had more experiences with those that they love. They had taken better care of their health and bodies over the decades. They had saved more and planned better for their retirement. And finally, they wanted to make sure that those they left behind would be taken care of once they were gone.


References:

  1. https://www.kiplinger.com/article/retirement/T023-C000-S004-retirees-build-a-financial-plan-based-on-you.html
  2. https://www.kinderinstitute.com
  3. https://www.kitces.com/blog/george-kinder-institute-life-planning-podcast-seven-stages-maturity/
  4. Podcast: #FASuccess Ep 015: Why Life Planning Is Simply Financial Planning Done Right With George Kinder

Accumulating Wealth

The wealthy accumulate wealth by being frugal

Frugality – a commitment to saving, spending less, and sticking to a budget – is a key factor in accumulating wealth, according to DataPoints’ founder, Dr. Sarah Stanley Fallaw.  Dr. Fallaw is also the co-authored “The Next Millionaire Next Door: Enduring Strategies for Building Wealth“.

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In an University of Georgia’s financial planning performance lab research paper examining the topic of “what does it take to build wealth over time”, the key findings were that those who were successful at accumulating wealth frequently exhibited the following behaviors:

  • Spending less than they earned
  • Having a long-term outlook on their financial future
  • Maintaining sound financial records
  • Keeping up with financial markets
  • Saving regardless of income level

Essentially, her research shows that anyone can accumulate wealth if they know the right steps to take. And, if individuals possess a certain set of characteristics, they may be more likely to become wealthy, according to Dr. Fallaw, who is also director of research for the Affluent Market Institute.

In her research, she found that six behaviours, which she called “wealth factors,” are related to net worth potential, regardless of age or income:

  • Frugality, or a commitment to saving, spending less, and sticking to a budget
  • Confidence in financial management, investing, and household leadership
  • Responsibility, which involves accepting your role in financial outcomes and believing that luck plays little role
  • Planning, or setting goals for your financial future
  • Focus on seeing tasks through to their completion without being distracted
  • Social indifference, or not succumbing to social pressure to buy the latest thing

In order to accumulate wealth, it is imperative for investors to understand that their underlying financial behavior and habits matter significantly. DataPoints research supports the notion that, “…individuals who successfully accumulate wealth often engage in basic and identifiable productive financial management behaviors.” And, they are often “socially indifferent” to the latest “must haves” and they resist the “lifestyle creep,” which is the tendency to spend more whenever they earn more.

To properly build wealth, financial experts recommend saving 20% of your income and living off the remaining 80%. Many wealthy individuals, who religiously follow this principle, espoused the freedom that comes with spending and living below their means.


Reference

  1. Grable, J. E., Kruger, M., & Fallaw, S. S. (2017). An Assessment of Wealth Accumulation Tasks and Behaviors. Journal of Financial Service Professionals, 71(1), 55-70.
  2. https://www.datapoints.com/2017/04/06/tasks-of-wealth-accumulators/
  3. https://apple.news/A4YIQ2ahsSKqzUG3rh1PmTQ

Seniors Are Stressed About Income in Retirement. What To Do. – Barron’s

A large number of American workers closing in on retirement are showing anxiety not just over how much they’ve saved but also over how to manage their different income sources during their post-career lives.

A new study by Charles Schwab found that most pre-retirees—defined as those within five years of retirement—have at least one fear about their income in retirement. The findings were gleaned from a survey last summer of 1,000 Americans aged 55 and older with $100,000 or more in investable assets, half of whom fell into the pre-retiree cohort. 
— Read on www.barrons.com/articles/most-seniors-stress-about-income-in-retirement-heres-what-theyre-most-worried-about-51582977602