Retiring During a Recession 3 Guidelines to Ensure a Stable Future
DON’T LET EMOTIONAL ATTACHMENT GUIDE YOUR DECISIONS. Saving for retirement is almost inherently tied with joyful thoughts of financial stability in your golden years. So, when something like a recession threatens that security, it’s easy to react irrationally. Before deciding what to do with your retirement funds, make sure your decisions are rooted in logic, not fear or anxiety. If you don’t know where to start, contact a financial advisor for guidance. DON’T WORRY ABOUT WHAT YOU CAN’T CONTROL. Even for financial experts, the markets are notoriously hard to predict. Rather than expend energy wishing you could sway the market, focus on making changes where you have control. You can control where your assets are invested, when you claim Social Security, and how you spend your money, among other things. Think about how you can change these factors in your favor and don’t worry about the rest. STRESS-TEST YOUR FINANCES. While conducting a stress test might sound a little abstract, it’s something that many financial advisors can help you do with your retirement accounts. Stress-testing your finances can help you determine if now is the right time to retire or if it’s better to wait just a little bit longer. Even if things look bad right now, that could change in a year or two. As the market recovers, so do your chances of a peaceful retirement.
A few months ago, several news sources confirmed what savvy American businesspeople already suspected: The United States is currently in a recession and has been since February 2020. While a recession isn’t good for anyone, it’s especially concerning for those nearing retirement age. Those who were planning on retiring this year might be having second thoughts — for good reason. Rest assured, however, that if you’ve had fears about retiring this year, you can still go ahead with your plans as long as you keep a few things in mind.
Hold the Salt Don’t Let Food Seasonings Sabotage Your Health
With so much emphasis on what foods you should eat to be healthy, it’s easy to overlook an important element of the cooking process: seasoning. You can find thousands of premixed seasonings on the market, and although adding dashes to your food seems inconsequential, the seasoning may actually turn your healthy foods into unhealthy foods. And the main culprit, in this case, is salt. Salt is a popular component of many premade seasonings because of its flavor-enhancing abilities. The label on your favorite mix should tell you exactly how much salt it contains. If it’s high on the ingredient list, you’re better off finding a substitute. High-sodium seasonings will promote water retention if used too liberally, which may lead to weight gain. The American Heart Association recommends consuming no more than 2,300 mg of salt a day. Ideally, adults would consume only 1,500 mg of salt daily. Removing salt from your seasoning repertoire may be difficult because it does enhance flavor. But alternative spices, when paired with the right food, can be great substitutes and have numerous health benefits. Here are a few.
• For pork: garlic, onion, sage, pepper, oregano
• For fish: curry powder, dill, dry mustard, marjoram, paprika, pepper
• For vegetables: pepper, parsley, cumin, dill, chives, basil, paprika
Try not to use more than 1/4 teaspoon of dried spice or 3/4 teaspoon of fresh spice per pound of meat or veggies. And for the best flavor, add ground spices to your food about 15 minutes before the end of cooking time. Add whole spices at least one hour before. Remember, salt doesn’t have to be the enemy — in moderation, it helps your body stay properly hydrated and helps deliver nutrients more efficiently. But too much can quickly lead to negative side effects, and with granules that are hard to see, it can be easy to go overboard. Instead, experiment with the hundreds of incredible spices available, and you might just open up a whole new world of great flavors and healthy habits.
• For beef: bay leaf, marjoram, nutmeg, pepper, sage, thyme
• For chicken: marjoram, oregano, paprika, rosemary, tarragon, chili powder
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