Friday, February 7, 2020

Health & Food Trends to Watch in the New Decade

A recent study concluded that half of the U.S. population will be clinically obese within the next 10 years. This isn’t just a weight issue, it’s a financial one. Obesity is a major factor for developing conditions like heart disease, diabetes, joint disorders and even certain types of cancer.1 So if you think health care expenses are high now, imagine how they could escalate over the next decade.
While we can’t always control what ailments we will experience, to some extent we can work on reducing body weight. And given the impact that being overweight can have on your finances and lifestyle, it may be worth putting as much effort into staying healthy as you do planning for retirement. We may not be able to help you with your nutrition and exercise regimen, but we’re here for you when it comes to building a financial future you can have confidence in. We’d be happy to discuss your insurance options based on your unique situation.
Shape up with small changes
As for improving your health, most experts agree on a handful of evidence-based recommendations. For example, sugary drinks like soda and even fruit juices contribute a lot of calories that can be avoided by switching to water. The same can be said for processed junk food. Nutritionists recommend replacing such foods with different types of vegetables, fruits and nuts as staples in your diet. High-quality proteins and fiber-rich foods can help you lose weight.2
If those traditional suggestions sound too boring, there are new ideas associated with better health. For instance, one study in Italy discovered that people who ate chili peppers at least four times a week had a 40% lower risk of dying from a heart attack and 50% lower risk of dying from a stroke.3
Researchers are still working to determine what accounts for the apparently protective effect, and a registered dietitian not connected to the study reminded that this observational study doesn’t show a causal link. “It is plausible people who use chilies, as the data suggests, also used more herbs and spices and as such were likely to be eating more fresh foods including vegetables,” said Duane Mellor, a registered dietitian and senior teaching fellow at Aston Medical School in the U.K., told CNN.4
Try these trendy foods
If the last decade is any indication, food patterns are trending healthier. From 2010 to present, we witnessed the growing popularity of things like avocado toast, Greek yogurt, nut-based milks, Kombucha tea, poke (raw fish salad) and bone broth.5
Looking ahead to 2020, the Food Network predicts that the biggest food trends will include:6
  • Pellet grills – compressed sawdust pellets heated by an electric rod that generates the easiest, cleanest and tastiest way to grill and smoke foods at the same time
  • Hudson Valley, New York – the area, comprising communities of growers, cookers and gourmet artisans, will become a popular vacation destination for “foodies”
  • Taiwanese food – will become increasingly popular, with dishes like beef noodle soup, pork belly buns and oyster omelets
  • Tajin (pronounced “ta-HEEN”) – this chile-lime salt seasoning will become all the rage
  • Grab-and-go charcuterie – will increasingly become the “go-to” choice among meals and snacks prepared by grocery store deli departments
1 Alice Park. Time. Dec. 18, 2019. “Half of the U.S. Population Will Be Obese by 2030.” https://time.com/5751551/us-obesity-by-state/. Accessed Dec. 30, 2019.
2 Kris Gunnars. Healthline. June 7, 2019. “27 Health and Nutrition Tips That Are Actually Evidence-Based.” https://www.healthline.com/nutrition/27-health-and-nutrition-tips. Accessed Dec. 30, 2019.
3 Jack Guy. CNN. Dec. 16, 2019. “Eating chilies cuts risk of death from heart attack and stroke, study says.” https://www.cnn.com/2019/12/16/health/eating-chili-pepper-study-scli-intl-scn-wellness/index.html. Accessed Dec. 30, 2019.
Ibid.
5 Lucas Kwan Peterson. Los Angeles Times. Dec. 30, 2019. “Cronuts, cold brew and avocado toast: 15 food trends that defined the decade.” https://www.latimes.com/food/story/2019-12-30/food-trends-best-of-decade. Accessed Dec. 30, 2019.
6 Leah Brickley. Food Network. Dec. 12, 2019. “These Are the Food Trends We’ll Be Talking About in 2020, According to Food Network.” https://www.foodnetwork.com/fn-dish/news/2019/12/food-network-food-trends-2020. Accessed Dec. 30, 2019.
Investment Advisory Services are offered by Imber Financial Group, LLC., a Registered Investment Adviser firm. Insurance services are offered through Imber Wealth Advisors, Inc. Imber Financial Group, LLC. and Imber Wealth Advisors, Inc. are affiliated companies We are an independent firm helping individuals create retirement strategies using a variety of insurance products to custom suit their needs and objectives. This material is intended to provide general information to help you understand basic retirement income strategies and should not be construed as financial advice.
The information contained in this material is believed to be reliable, but accuracy and completeness cannot be guaranteed; it is not intended to be used as the sole basis for financial decisions. If you are unable to access any of the news articles and sources through the links provided in this text, please contact us to request a copy of the desired reference.

Monday, February 3, 2020

Work World: Late Career Management

The number of workers older than 64 has increased threefold since 1989.1 And while working longer may be a marker of good health for some, it’s a necessity for others who need the income. As a result, we may need to rethink our idea of what retirement looks like in the 21st century.
Consider that working longer could be a problem if you’re relying on it as a retirement savings strategy. That’s because a 2018 study found that more than half of older U.S. workers, many of them mid- and late-career managers, were forced out of their jobs before they chose to retire.2 Working longer has a lot of advantages, such as the ability to save more money and to grow your assets and your Social Security benefit. Unfortunately, sudden job loss — compounded by the difficulty older workers experience finding new jobs — can cause serious financial damage.
If there is one thing we can count on in life, it’s that life is always changing. We encounter great joys and great challenges, and often it’s how prepared we are that helps us recover and persevere. As insurance professionals, we believe it’s important to be prepared for any type of change that may come your way. If we can help you devise an insurance strategy to help you plan for the income you need in retirement, please give us a call.
It used to be more common for people to retire on their own terms, and there may be a way we can get back to that. But it doesn’t mean bucking the system; it requires embracing change. That change, for many people, could mean working in the “gig economy” with a sideline business. Think about it. By the time you are in the latter stages of your career, you likely have more experience than the vast number of colleagues around you. How can you leverage that for independent income?
Today, more than a third of America’s workforce participates in the gig economy, whether full time or part time.3 Even if you do not have knowledge that translates into a sideline business as, say, a consultant, perhaps you’ve developed another skill that could provide you income. Are you a baker or a carpenter? Perhaps you could drive for a rideshare service or walk dogs in your spare time. Working for yourself comes with plenty of perks, such as accepting only the jobs you want and scheduling hours that work for you. Like it or not, the gig economy could be the defining work/life balance solution of this century.
Many people may be uncomfortable with the idea of changing jobs or careers late in the game. That is certainly understandable. But it’s important to remember that many retirees didn’t get to make that decision on their own. So imagine for a moment what you would do if you lost your job late in your career. Would you look for another job in your field? Would you consider starting your own business? Would you go in a completely different direction — perhaps pursue something you’ve always wanted to do?
Let’s say you don’t even need the income; you have plenty of money saved to retire on — you just don’t want to retire … yet. So what would you want to do? Taking time to consider this question could be instrumental in shaping the new, 21st century perspective on retirement.
And why not? Consider that you have a lifetime of experience — both in career and in life lessons learned. If you are in the latter stages of your career, it’s time you take charge by putting together a plan B — just in case.
You could consider your potential career change a gift to the next generation. Many Gen Xers and millennials now say the biggest obstacle in their career path is that more baby boomers are putting off retirement, so there’s little room for promotions to middle- and higher-level jobs.4
That’s a lot to think about. But perhaps the 21st-century vision of retirement isn’t to stop working, but rather to pursue income-producing dreams.
1 Stef W. Kight. Axios. Nov. 16, 2019. “Special report: Retirement becomes more myth than reality.” https://www.axios.com/retirement-myth-reality-d64d1e74-df04-49b7-9629-2cab2609a917.html. Accessed Dec. 18, 2019.
2 Knowledge@Wharton. Dec. 3, 2019. “Forced Out of Your Job Mid-career? Here’s How to Prepare.” https://knowledge.wharton.upenn.edu/article/forced-job-mid-career-heres-prepare/. Accessed Dec. 18, 2019.
3 US Bank. 2019. “Understanding the expanding gig economy.” https://financialiq.usbank.com/index/landing-page/gig-economy.html?c3ch=Paid%20Social&c3nid=TW-21808397. Accessed Dec. 18, 2019.
4 Paul Davidson. USA Today. Nov. 7, 2019. “Millennials, Gen Xers to baby boomers: Can you retire so I can get a job promotion?” https://www.usatoday.com/story/money/2019/11/07/jobs-baby-boomers-older-workers-may-block-millennials-careers/4170836002/. Accessed Dec. 18, 2019.
We are an independent firm helping individuals create retirement strategies using a variety of insurance products to custom suit their needs and objectives. This material is intended to provide general information to help you understand basic retirement income strategies and should not be construed as financial advice. Investment Advisory Services are offered by Imber Financial Group, LLC., a Registered Investment Adviser firm. Insurance services are offered through Imber Wealth Advisors, Inc. Imber Financial Group, LLC. and Imber Wealth Advisors, Inc. are affiliated companies
The information contained in this material is believed to be reliable, but accuracy and completeness cannot be guaranteed; it is not intended to be used as the sole basis for financial decisions. If you are unable to access any of the news articles and sources through the links provided in this text, please contact us to request a copy of the desired reference.