Maintaining Health While Homebound
Stay Connected With These Helpful Resources
convenient if you don’t want to deal with mobile apps. Regardless of your method, you should become familiar with getting food delivered because you don’t know how long the situation will last. SOCIAL MEDIA. Utilizing social media is a great way to keep in contact with your loved ones. Facebook is very popular with older people — 1 out of 3 older adults already uses the platform because it’s easy to use. Facebook and other social media
Due to the growing concerns about COVID-19, getting the resources you need to maintain a healthy lifestyle is more challenging. The Centers for Disease Control and Prevention’s (CDC) request for social distancing makes it harder to get food and maintain social norms. So, to help maintain your well-being in these uncertain times, here are a few resources that will make getting food and keeping tabs on your family a breeze.
platforms can help you stay connected with friends, family, and groups of people with similar interests to avoid feeling so isolated at home. You can also continue to share photos and videos so you don’t miss a day in your loved ones’ lives.
FOOD DELIVERY. Because COVID-19 is easily transmitted, getting food at a grocery store is riskier. If you don’t prefer mobile apps like Postmates or Instacart, local food kitchens,
municipalities, and senior centers may offer food delivery. Using a delivery service limits the number of people you interact with to the delivery person. For an added measure of safety, put a note on delivery
Video chat apps like Skype, Zoom, and Apple FaceTime enable you to have those essential face-to-face conversations when you can’t be with other people. If you’re unfamiliar with the applications, they are easy to download for free on your phone or computer, and they allow you to see and verbally chat if you have a webcam and microphone. (If you use a phone or laptop, this equipment is already built-in.) A video chat app also lets you be a part of important life moments like birthdays and anniversaries if a shelter-in-place order prevents you from celebrating in person. Ensure you’re up to date on the best ways to keep you and your family safe during these uncertain times by visiting CDC.gov for more information.
instructions requesting they leave the bags at the door.
If you have trusted family or friends nearby, reach out to them. They can pick up what you need when they’re already getting groceries, which is especially
3 Financial Opportunities to Consider As the markets plunged into turmoil and the coronavirus spread across the U.S., many people saw large pieces of their retirement savings evaporate overnight. At McBeath Financial Group, we are here to remind you that even a down market can provide opportunities. tax burden. Those funds then grow tax-free (though are still subject to some rules). Even if this was a move that didn’t make sense for you in years past, conditions have changed dramatically in a short amount of time, so checking back in on where you stand with this opportunity is worthwhile.
SWITCH TO A PROFESSIONALLY MANAGED PORTFOLIO.
GO THROUGH THE PLANNING PROCESS. If you don’t have a financial plan in place, then how are you feeling about self-managing your money right now? How confident are you that your portfolio risk is aligned with your risk tolerance and that you’ll be able to handle the emotions that come up during a bear market? If the answer is not very confident, then you should consider going through the planning process.
If you’ve considered switching to a professionally managed portfolio but the tax implication of large capital gains deterred you, then now may be an excellent time to do so. The recent losses incurred have likely minimized the taxable gain or eliminated it, possibly giving you an opportunity to claim losses. It is important not to sit on the sideline after doing so, as you may miss out on the recovery. Regardless, removing the emotional elements associated with managing your own money can be a huge stress reliever. MAKE THE CONVERSION TO A ROTH IRA. Between the changes put into place by the SECURE Act, market conditions, and historically low tax rates, converting your current plan into a Roth IRA may be the perfect move for you. If you have money in a 401(k) plan or a traditional IRA, then switching those pre-tax funds into a post-tax account like a Roth could allow you to minimize your
At McBeath Financial Group, we help you connect with the right financial instruments for your situation, and we strive to help you live your life with more financial confidence. Visit McBeathFinancialGroup.com to learn more.
2 McBeathFinancialGroup.com
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