The Financial Risk of Living a Long Time

The Financial Risk of Living a Long Time

People nearing the end of their careers can potentially lose 5% to 10% of their retirement wealth, or the equivalent of 2 to 5 years’ labor, by failing to annuitize their savings or annuitizing too early, according to an estimate by Alessandro Previtero of Ivey Business School in Canada. By providing a guaranteed income for life, an annuity is essentially an insurance policy against outliving one’s retirement savings. In a study, Previtero found that when stocks are rising, people are less likely to purchase annuities offered by their employers.

 

This excerpt came through my RSS reader this morning.  As an insurance guy, naturally I was interested.  When I clicked on the link to take me to the original Harvard Business Review blog article I got a 404.  So I went to Google and found the article linked below.

CEG_AnnuitiesDeserveAttention

No, I will not speculate on the reasons why HBR took their post down.  Read the article and let your imagination roam.

Fruit, Veg Intake Has Dose-Response Link With CV Death

The inverse association between increased fruit and vegetable consumption and mortality was particularly noticeable for cardiovascular mortality; higher consumption was not significantly linked with reduced risk of cancer mortality

All of the pitfalls of the component studies are present in the meta-analysis, the authors warn, including the fact that fruit and vegetable intake is typically self-reported. Not all studies adjusted for other types of foods consumed, including saturated fats, processed meats, etc. The definition of “portions” may also have been different across studies, the authors caution.

via Fruit, Veg Intake Has Dose-Response Link With CV Death.

Vegans and radical vegetarians take note.  Bold in quote above is my emphasis.

 

Stupidity is Worse for us than Either Sugar or Saturated Fat

Stupidity is worse for us than either sugar or saturated fat.

Read this article and you’ll encounter a well reasoned rant with lots of links for further reading enjoyment.  My personal journey includes a significant weight loss experience in my early 20’s.  Over the years I’ve gained back some of the 200 plus pounds lost.  Over the years I’ve also gotten lazy with my dietary habits.  Too many calories and an aging metabolism is not a combination for staying trim.  So I got serious (again) and have dropped 12 pounds the past three months.  I’ve always known what to do but failed to do what needed to be done.

And so it goes.  Change. Adapt. Repeat.

Johns Hopkins Health Alert – Potassium and Sodium

Reprinted from the original email.

Potassium and Sodium:
Achieving the Proper Balance

 Potassium is an important nutrient everyone needs, but if you have heart disease or are at risk for it, potassium takes on particular importance. Getting plenty of potassium from food is a wise move for most people. Others, however, may need to limit potassium in their diets, including those who are taking certain blood pressure or heart medications or have kidney disease.

Why potassium is important. Potassium is an electrolyte with many essential jobs: It helps conduct nerve impulses and muscle contractions, regulates the flow of fluids and nutrients into and out of body cells, and helps keep your blood pressure in check. Essentially, the level of potassium in your blood can make the difference between normal and abnormal activity in your heart and blood vessels.

Potassium does not act in a vacuum, though. It interacts with other electrolytes, including sodium. It’s long been known that sodium raises blood pressure, while potassium lowers it. But it’s becoming clearer that getting the right balance between sodium and potassium in the diet may be key to your heart health.

How much potassium do you need? In general, adults should get at least 4,700 mg of potassium daily, while limiting themselves to 1,500 mg of sodium. But most Americans are not meeting either goal.

Why is this? The main culprit is too many packaged and prepared foods. During processing, typically a large amount of salt (and, therefore, sodium) is added to foods, while any natural potassium may be stripped away. In contrast, many unprocessed whole foods — fruits and vegetables, in particular — contain adequate levels of potassium but little sodium.

In fact, the vast majority of salt in your diet comes not from your salt shaker, but from processed foods. And some of the biggest sources may surprise you: bread and rolls, prepared pasta dishes, and fresh poultry, for example. Others are less surprising — like cold cuts and cured meats, canned soups and sauces, and snack foods like chips, pretzels and popcorn. So you can optimize your potassium intake and minimize sodium intake by emphasizing fruits and vegetables, whole grains, low-fat dairy, beans, fish and lean meat in your daily diet.

Here are some examples of high-potassium foods followed by healthy alternatives that you can substitute:

  • High-potassium foods (at least 250 mg/serving): wholegrain breads, wheat bran and granola; peanut butter; fruits like apricots, bananas, melon, mango, oranges and pears; vegetables like potatoes, tomatoes and tomato sauces, parsnips, cooked spinach and broccoli, and raw carrots; milk and yogurt.
  • Low-potassium foods (less than 250 mg/serving): White bread and rice; some fruits like apples, berries, grapes, pears and peaches; some vegetables, such as asparagus, green beans, cooked carrots and cabbage, cauliflower, corn and eggplant; poultry, tuna and eggs.

It’s Official: The Boomerang Kids Won’t Leave – NYTimes.com

It’s Official: The Boomerang Kids Won’t Leave – NYTimes.com.

One in five people in their 20s and early 30s is currently living with his or her parents. And 60 percent of all young adults receive financial support from them. That’s a significant increase from a generation ago, when only one in 10 young adults moved back home and few received financial support. The common explanation for the shift is that people born in the late 1980s and early 1990s came of age amid several unfortunate and overlapping economic trends. Those who graduated college as the housing market and financial system were imploding faced the highest debt burden of any graduating class in history. Nearly 45 percent of 25-year-olds, for instance, have outstanding loans, with an average debt above $20,000. (Kasinecz still has about $60,000 to go.) And more than half of recent college graduates are unemployed or underemployed, meaning they make substandard wages in jobs that don’t require a college degree. According to Lisa B. Kahn, an economist at Yale University, the negative impact of graduating into a recession never fully disappears. Even 20 years later, the people who graduated into the recession of the early ’80s were making substantially less money than people lucky enough to have graduated a few years afterward, when the economy was booming.

Read the entire article for a lesson in how to put a positive spin on our new Culture of Dependency.  Watch the slideshow of a dose of reality.  Then read the reader comments and decide for yourself if this “new and permanent life stage” is truly a “potentially thrilling economic evolution”.

Or not.

Managing the “Invisibles” – Harvard Business Review

What Does It Mean to Be an Invisible?

Many of the Invisibles I met with are at the top of their fields; some are in charge of complex operations and of scores, even hundreds, of workers; many are well remunerated. I wanted to know: How is it, in an age when seemingly everyone is aggressively self-promoting, when we’re told that in order to get ahead we must have a brand or a “platform,” that these people—consummate professionals all—are satisfied with anonymity? How can they have the confidence to do their demanding jobs and yet not the ego to want to be widely known for their work? Despite the diversity of their careers, I found that all Invisibles share certain traits, with three in particular at the core.

Ambivalence toward recognition. We all do work that is anonymous to some extent, but most of us strive for recognition. That is how we feed our sense of self-worth. Invisibles take a different approach. For them, any time spent courting praise or fame is time taken away from the important and interesting work at hand. In fact, their relationship with recognition is often the inverse of what most of us enjoy: The better they do their jobs, the more they disappear. It may only be when something goes wrong that they’re noticed at all.

via Managing the “Invisibles” – Harvard Business Review.

The Recruiter: Hot Spots

The Recruiter: Hot Spots.

The supply and demand scale for emergency physicians is obviously going to be tipped in favor of physicians for many years to come. If you’re an ABEM/AOBEM certified physician with a solid track record, typically the job hunt can be akin to achieving celebrity status – “Everybody wants you – everybody needs you”.  In most parts of the country, a well-qualified EP is highly likely to secure a position at the hospital of his or her choice.

If you’re an underwriter reading this, sorry this link is not for you.

If you’re related to me and starting your emergency medicine residency in June then, Bud this link’s for you.