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Tips for planning the ultimate safari

2020-12-31T10:01:00

(BPT) – If you’ve always wanted to see amazing wildlife in their natural habitats, you may wonder what country to visit, and how to plan your ideal adventure. Choosing Uganda, you’ll see not only amazingly rich and varied landscapes, but also a variety of wildlife unlike any other country in the world.

Spend time discovering your options and you’re bound to have an incredible adventure. Here are some tips to create your roadmap for a spectacular African safari.

1. Schedule the best times for your safari

When you’re booking a guided safari, you’ll note game drives are in the early morning and early evening. These are the times of day when temps are cooler and when animals are most likely to be out and about.

Even if you’re tired or are definitely not a morning person, don’t give up on early morning game drives, or you could miss out. Every game drive is unique, so no matter when you go, it will be a different experience.

2. Research the best regions to explore

A recommended trip is 10-12 days with time in three different regions of a country. Fortunately, Uganda’s regions are diverse enough to satisfy any traveler’s interests.

Here are examples of must-see areas:

  • Murchison Falls National Park is Uganda’s largest park. Enjoy a Nile River safari, take a hike up Murchison Falls, witness the endangered Rothschild giraffe population and more. Chimp trekking areas are nearby.
  • Queen Elizabeth National Park’s southern sector is where travelers can spot the rare tree-climbing lions which are only found in a few places in the world. The park spans the equator so you can also snap a photo at one of the nearby monuments marking the spot where it crosses latitude 0. Chimp trekking areas are nearby.
  • Bwindi Impenetrable National Park or Mgahinga Gorilla National Park are the only two parks where you can go gorilla trekking in Uganda. Bwindi Impenetrable National Park is recognized as a UNESCO World Heritage Site.
  • Kidepo Valley National Park has topography so striking that it’s a top safari destination. You’ll see both vast savannah terrain and a mountainous landscape.
  • Jinja is a city known as Uganda’s adventure capital — and the only place where you can safely whitewater raft on the legendary Nile.
  • Rwenzori Mountains National Park is an outstanding area for the true adventurer to enjoy a long hiking expedition up Uganda’s “Mountains of the Moon,” where vibrant green vegetation gives way to snow and glaciers.
  • Ziwa Rhino Sanctuary is a must if your goal is to see the “Big 5” (lions, leopards, buffalo, elephant and rhino) while in Uganda, as this sanctuary is the only place in Uganda where you can find the white rhinoceros in its natural habitat.

3. Learn how to pack

Once your destinations are selected, figure out what clothing you’ll need. For example, Bwindi Impenetrable National Park is a mountainous area with cool mornings and evenings, so dressing in layers is ideal. If you’re planning on gorilla trekking, it’s recommended to bring gardening gloves for the hike as you make your way through the forest and support yourself on branches and vines.

Note: If you’re traveling during the pandemic, it is required that you have at least two N95 masks, surgical masks or double-layered cloth masks with filters to ensure a single use for each day of your visit.

Binoculars are recommended to spot not just animals in the distance and stealthy animals blending in with the landscape, but also to catch a glimpse of stunning birds that make Uganda their home.

4. Be open to new experiences

Game drives may be top of mind, but many other activities are available when you’re in a diverse and fascinating country like Uganda.

Here are other places you can add to your itinerary:

  • Community visits. You can arrange to visit schools to interact with kids and view a special dance performance, interact with communities such as the Batwa, and learn how local women weave baskets, sew, cook and more.
  • Nature walks. See a different viewpoint of the bush, full of spectacular details you could miss while driving.
  • Birding. Most visitors to Uganda grow to appreciate the incredibly diverse birds living there. More than half of Africa’s bird species can be spotted in Uganda, and with the right itinerary, travelers can identify as many as 200 species in a single day.
  • Coffee safaris. There are several coffee regions in Uganda where you can learn about the coffee process. Conservation Through Public Health (CTPH) allows travelers to meet with local coffee farmers near Bwindi Impenetrable National Park and enjoy a delicious tasting.

To learn more about all that Uganda has to offer for your dream safari, visit UgandaWildlife.org.

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5 tips for starting your own business

2020-12-31T09:01:00

(BPT) – There’s no doubt the pandemic has hit small businesses hard. Even in its early weeks, February to April 2020, the number of active businesses plummeted by 22%, according to a report from the National Bureau of Economic Research. And unfortunately, the consequences of the early shutdowns impacted minority-owned businesses even harder, with Black-owned businesses seeing a 41% drop, Latinx businesses 32%, Asian businesses 26% and women-owned businesses 25%.

Does that bad news mean that now is the wrong time to consider starting a new business? Not necessarily. Opportunities exist for small businesses today, including support and funding for start-ups — and especially for minority business owners.

If you want to start a small business, here are steps to get you started.

1. Do your research

First, make sure you understand the current market for your business. This step is crucial to turn an idea into a full-fledged business plan.

Ask questions like:

  • Is this product or service in demand right now?
  • Are there similar products and services out there, and are they succeeding?
  • Can this product or service be delivered safely for employees and customers?
  • Could the business support rapid growth if it really took off?

Ask other business owners about their challenges and rewards to explore whether this is a good option for you. Use market analysis tools recommended by resources such as the Small Business Administration (SBA) to get to know the market for your business.

2. Write a business plan

No business can find funding, investors or partners without a solid business plan. Learning to write a comprehensive plan also forces you to fully think through every aspect of your proposed idea. The SBA is a great resource to research types of business plans.

Enlist the help of other business owners during the process if you can to understand how their plans helped them and what to avoid.

3. Fund your business

Every business needs capital to get started. Your business plan’s financial section should provide a clear idea of the capital you need to launch. Most businesses rely on multiple financial sources, including:

  • Personal funds
  • Bank loans or personal loans
  • Investors
  • Crowdfunding

SBA loans can be a good option. For example, Huntington Lift Local Business is a small-business lending program focused on serving minority-, women- and veteran-owned businesses. Huntington is a top SBA 7(a) lender that has developed creative lending options and other features to help bring relief, recovery and growth to small businesses across the Midwest.

With Huntington’s program, businesses can secure SBA-guaranteed loans from $1,000 and up to $150,000 with:

  • Zero origination fees
  • SBA fees paid by Huntington
  • Lower credit score requirements
  • Free financial education courses
  • Checking accounts with 24-Hour Grace overdraft fee relief, and service fee waived for 36 months
  • Flexible, longer-term repayment options

“The economic uncertainty sparked by the pandemic has highlighted the need for increased financial opportunity for everyone starting or sustaining their small businesses,” said Huntington’s SBA program director, Maggie Ference. “Everyone deserves a shot at success, and our program delivers a new solution to customers when they need it most, whether for a startup or an established business looking to grow.”

4. Develop a marketing plan

Creating a brand identity and communicating it well is crucial to success. Consider hiring or contracting marketing services to help you choose your business name, create a logo, build your website and develop a strategic marketing plan to get the word out about your business.

5. Take care of business

Dotting the Is and crossing the Ts is necessary for any business. Details include choosing your business location and registering your business, applying for all the required licenses and permits, including federal and state tax IDs — plus opening your business bank account. Also, consulting an accountant with experience helping small businesses can ensure you have your business and financial ducks in a row.

Starting a small business is a daunting challenge, but it can also be a rewarding opportunity. Taking the time to fully explore and utilize all the resources at your disposal can help ensure that your new business will be a success.

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Without hesitation: Joel navigates the long road of aTTP

2020-12-30T09:41:00

(BPT) – Joel made his living driving a semi-truck cross country. He loved the scenic beauty and the feel of 18 wheels of rubber as he traveled across the United States. Unfortunately, after four life-threatening medical emergencies while he was on the road, Joel knew his career as a truck driver had to come to an end.

In 2010, Joel had stopped in Little Rock, Arkansas, to get his truck repaired on his way to deliver cargo in Chicago. After spending the night in a local motel, he noticed purplish-colored spots on his face, back and side that looked like a bruise. He quickly wrote it off so he could complete the 650-mile trek to Chicago. He made the delivery feeling completely exhausted and with a migraine — the kind where he could see auras and lights in his peripheral field of vision.

“I told myself, I need one good night of sleep and I would feel better the next morning. I went to bed early but kept having the urge to go to the bathroom. I couldn’t go. I knew based on a previous job working in a dialysis clinic that it wasn’t normal and thought I might have a urinary tract infection,” Joel explained.

Joel was admitted to the hospital, but his team of healthcare providers did not have a diagnosis.

“They called a hematologist. He ordered a blood sample and asked me about my symptoms. He recognized the symptoms as acquired thrombotic thrombocytopenic purpura. I spent 15 days in the hospital, 1,000 miles from home with a condition I knew nothing about,” Joel recalled. “After the diagnosis, I held my head in my hands and sobbed my eyes out.”

Acquired thrombotic thrombocytopenic purpura (aTTP) is a rare blood disorder that is a medical emergency and can be life-threatening. It occurs when there is a deficiency of an enzyme in the immune system (ADAMTS13) that causes blood clots to form in the small blood vessels, low platelet counts and destruction of red blood cells. For the estimated 2,000 people living with aTTP in the U.S., many experience a wide variety of symptoms, including fever, fatigue, headache, confusion and bruises or dots on the skin. aTTP can continue to impact people over the course of their life with recurrences.

The longer haul

About five years later, Joel experienced the fourth recurrence of aTTP and this time, he nearly died.

“In the middle of the night, I still couldn’t sleep and walked down to the diner to order some breakfast. I opened my mouth, but nothing made sense,” Joel recollects. “The waitress gave me paper and a pen — I wrote 911.”

Joel doesn’t remember arriving at the hospital and two days later, his family arrived to tell him he was in the intensive care unit on life support. He quickly realized he could no longer risk being so far from home if another occurrence were to happen. He walked away from the career he loved. Since then, Joel has had two more episodes.

“Before each episode, I go through denial. I think there’s someone else that needs that hospital bed worse than me. I try to brush off the signs, but it’s so important to seek medical attention immediately. Don’t wait,” Joel notes. “aTTP is life-changing and you can’t ever fully recover or forget something like this, but a positive attitude and having a good sense of humor has been very helpful.”

This article was written by and reprinted with permission from Sanofi Genzyme. Learn more on aTTP: www.understandingttp.com.

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4 fun car-related activities to do with kids

2020-12-30T08:01:00

(BPT) – Got kids who love cars? Whether your child (or your student) is a preschooler, a teenager or somewhere in between, here are some creative ways to keep kids happily engaged at home while they’re dreaming about cars. These activities are appropriate for any age to help nurture and inspire a fascination with cars.

1. Take a virtual field trip to a car factory

For kids who are curious about how cars are actually made, you can virtually visit one of nine U.S. manufacturing plants and automotive experience centers at TourToyota.com. You and your child will be able to see how the many people — and robots — work together to make each vehicle in a behind-the-scenes look at manufacturing plants around the country. Each tour is a little different, so it’s worth checking them all out to find your favorite.

If your kid is interested in learning about the vehicles of the future and robotics, you can watch a video to learn about the latest cutting-edge research on artificial intelligence and automated vehicles at TeenDrive365inschool.com/CarsOfTheFuture.

2. Read or listen to stories about cars

For younger children, you can read along with YouTube videos featuring popular children’s books about cars, such as “If I Built a Car” by Chris van Dusen and “Going Places” by Peter and Paul Reynolds.

Or for older kids and teens, you can listen to podcasts about cars on the series CarStories, such as “How to Design Cars”, a discussion with real-life car designers about how they first began their lifelong love of everything automotive — by drawing cars when they were young kids.

3. Watch a video about automotive design

Check out the short video “Making the Origami-Inspired Lexus” for a mind-blowing look at how a couple of designers used cutting-edge technology to create a complex, detailed replica sculpture of a Lexus IS car — that’s actually drivable by real humans! — out of corrugated cardboard, complete with wheels, seats, headlights and more.

Also, see an automotive designer from Toyota’s CALTY Design Research team demonstrate how he sketched out an idea for what became the 2021 redesign of the Toyota Sienna minivan.

4. Draw your dream car

First, let your imagination go wild. What would your dream car look like? Would it fly or swim? Does it look like a train or an animal? Dream of the coolest car you can come up with. Then follow these steps:

  • Gather materials. To start, you’ll need paper, pencil and an eraser.
  • Decide the shape. Sketch lightly, focusing on the overall shape. Draw your car at a slight angle to show both the front and the side. This is called “three-quarter perspective.”
  • Fill in details. Draw the parts your car needs. For example, will it have wheels, or will it move differently? Use darker lines or add color to highlight each part of your car.
  • Refine and complete. Retrace shapes and angles of your car as needed. Erase light lines and strengthen the most important outlines. Shade with your pencil to give the car depth and perspective. Congratulations! You’ve drawn a car!

Now that you know the basics, it’s time to practice and add a little imagination — and maybe win a prize. The Toyota Dream Car USA Art Contest encourages kids ages 4-15 to draw their ideas of the future of transportation. Flying cars, underground passages, space exploration or magnificent beasts: no idea is off limits. But there are some rules.

The original illustrations must be done on paper using colored pencils, crayons, markers and/or paint (any kind). No digital tools or elements may be used. All submissions must be accompanied by a completed entry form signed by a parent or legal guardian. Each year, nine winners receive first, second and third place in each of three age categories (4-7 years, 8-11 years, 12-15 years). Prizes include a Toyota MasterCard® Reward Card, a ready-to-frame copy of the artwork and an award certificate. For details about this free youth art contest, go to ToyotaDreamCarUSA.com.

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Medical innovations poised to transform healthcare in 2021

2020-12-30T10:01:00

(BPT) – Experts in healthcare are continuously striving to develop new innovations that can improve and save lives. Even amidst the COVID-19 pandemic, scientists, physicians, and researchers continued to advance medical knowledge, enhance screening and diagnostic tools, and improve disease management platforms, bringing new hope to patients in 2021.

When it comes to medicine, there’s a lot to be excited for in the new year. Here are the top innovations you should know about and the potential impact they may have on healthcare.

Novel blood test detects over 50 types of cancers

While current guideline-recommended cancer screenings in the U.S. are critical, they are limited, testing for just five cancers and screening for a single cancer at a time. The Galleri test from GRAIL strives to transform cancer care and save lives by detecting a multitude of cancers at once and at earlier stages, when treatment is more likely to be effective.

In clinical validation studies, an earlier version of Galleri demonstrated the ability to detect more than 50 types of cancers — over 45 of which lack recommended screening today — with a very low false positive rate of less than 1%, all through a single blood draw. Galleri will be commercially available in 2021 and could have a tremendous human and economic impact.

Learn more at grail.com/galleri.

Life-changing vaccinations for COVID-19

With pharmaceutical companies accelerating vaccine development timelines to curb the COVID-19 pandemic, and healthcare researchers around the world collaborating and exploring solutions, hope is on the horizon: long-awaited vaccines from Pfizer and Moderna have been approved by the Food and Drug Administration (FDA). Now in the process of being distributed, the vaccine will first be available to vulnerable populations and frontline workers most at risk of the virus.

Smart-device connected pacemakers

Pacemakers and defibrillators are implantable devices that regulate and correct heartbeats through electrical pulse. Remote monitoring of these devices is essential to ensure proper functioning, which in the past has occurred through bedside technology that communicates data to healthcare teams. This can be cumbersome, confusing, and time-consuming for patients.

In 2021, patients will have new pacemaker options that work through wireless communication to a mobile app that provides data to their physicians. In addition to streamlining the data collection process, these apps are intended to engage the patient more deeply in their healthcare so they better understand their wellness journey.

Telehealth and remote patient monitoring

Resource constraints and a global pandemic has positioned telehealth to be more widely adopted, with many experts predicting remote healthcare to become standard practice for a multitude of applicable purposes, including routine checkups and mental health appointments. Insurance policy changes are also supporting this option for connecting patients and their providers, even when physically distant.

Although standard telehealth appointments might take place via secure video conference, the potential of virtual healthcare is even more dynamic. Remote patient monitoring uses special technology to connect healthcare teams to patients in their homes and can be used in chronic disease management, post-op recovery, and much more. Patients input vitals and other data and complex algorithms advise healthcare teams of trend departures so they can act quickly and effectively, helping improve health outcomes and reduce costs.

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A registered dietitian’s 5 steps for better health in 2021

2020-12-29T12:43:00

(BPT) – The New Year always spurs a renewal of personal goals, whether you make resolutions or not. The blank slate of a new calendar year offers a sense of possibilities for making the next year great — and health goals usually top the list.

If you’re looking to put health first, who better to turn to than a registered dietitian? Registered Dietitian Kelli McGrane, MS (@HealthyToast_RD), offers tips for boosting your health through a positive approach to food and exercise that supports your progress year-round.

“When you’re figuring out what health or lifestyle changes you want to make, write out the pro’s and con’s of each change,” McGrane said. “Once you know why you’re choosing these goals, tape that list on your fridge or keep it on your phone for a boost of motivation anytime you need it.”

Here are her top tips for improving your health.

1. Be mindful of what you eat

People are home more than ever and it’s easy to graze mindlessly through the kitchen. And as a result, the calories can add up quickly.

A simple way to monitor your calories is the Lose It! app — an easy, helpful way to track what you’re eating and get inspired with healthy recipes. Since 2008, over 40 million Lose It! users have lost a collective 100 million pounds — that’s 350 billion calories lost.

“The Lose It! app is a great way to help track calories and it also gives you information on the quality of your diet overall,” said McGrane. “You can even use the app to track your water intake and activity throughout the day.”

2. Prep your kitchen

More time at home means more time near the kitchen. To avoid temptation, consider moving unhealthy snacks to the back of the refrigerator so you see the healthier choices first.

Also, stock up on colorful vegetables and fruits, choose whole grains and keep lean proteins on hand for snacks. When temptation strikes, try a handful of nuts or a hard-boiled egg, as protein is more likely than highly-processed foods to boost your energy.

3. Find a support system

Whether it’s a friend with similar health goals, a group you can Zoom with or the Lose It! community, a support system is invaluable when working toward lasting changes. Not only can they cheer you on, but they may even join your efforts to get and stay healthy.

While everyone has limited their in-person interactions, there are also many digital resources to help you reach your goals.

4. Figure out what moves you

Everyone’s routines have been upended this year, and fitness is no exception. Now is the time to get creative and find an activity you love. Dancing to music, walking outdoors or using a stationary bike are all great ways to keep active.

“Not only can getting in some form of physical activity help burn calories, but it can also boost your mood,” said McGrane. “Even housework can be a fun workout if you turn up your favorite music while you’re cleaning.”

If you enjoy the outdoors during winter, try skating, skiing or snowshoeing. If you don’t like the cold, online exercise classes or active video games are great options for those without exercise equipment.

5. Get enough rest

People often forget that sleep is a critical part of weight loss and health. In fact, a study in the American Journal of Clinical Nutrition found that when people were starved of sleep, late night snacking increased.

“Being well-rested is important for having enough energy to exercise and make healthy food choices,” said McGrane. “And often people look to food for energy when what they really need is sleep.”

If you aren’t getting 7-9 hours of sleep a night, notice what’s keeping you from going to bed. Can you turn off the gadgets an hour earlier? A quiet activity like reading or meditation can help you wind down and get to sleep easier.

Staying healthy and fit in 2021 is as easy as following these simple tips. To further help you meet your health and weight loss goals, download the Lose It! app today.

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6 financial goals for 2021 and how to reach them

2020-12-29T07:01:00

(BPT) – With a fresh start upon us, it’s the perfect time to set goals and look forward to the possibilities of a new beginning — especially after 2020. The start of a new year is a great time to review your finances, realign your budget and make big plans for the coming months.

Many people set lofty New Year’s resolutions, but sticking with them isn’t always easy. Here are some common financial resolutions that might be on your list — along with helpful tips on how to keep them.

1. Build an emergency fund

Emergency funds can help you cover unexpected expenses without breaking your budget or taking on extra debt. Aim to put about 3-6 months’ worth of living expenses into a separate savings account with easy access.

2. Create a budget you can stick to

Get all your financial goals on the right track by creating or reevaluating your budget. A detailed budget can help you understand how you’re spending your money and identify areas where you can spend less and save more. Try using digital capabilities to monitor your financial activity. For example, Erica®, Bank of America’s AI-driven virtual financial assistant available within the bank’s mobile app, provides proactive guidance, such as sharing a weekly snapshot of spending patterns or monitoring recurring charges, to help keep your budget on track.

3. Save for the next milestone

Saving money is an important part of reaching financial success, especially when you’re looking forward to that next life step — saving for college, buying a house or welcoming a child, for example. If you’re looking for guidance on tracking and achieving your individual goals, a personalized experience can help. Bank of America Life Plan®, available within the bank’s mobile app and online banking platform, helps to define, prioritize and better understand the steps to take toward achieving your goals.

4. Maximize rewards programs

Plan your usual shopping and spending to take advantage of the many benefits of loyalty rewards programs. For example, with Bank of America’s BankAmeriDeals®, you earn cash back on selected deals through your mobile banking app when you pay with your eligible Bank of America debit or credit card.

5. Boost retirement contributions

It’s never too early to direct more savings toward retirement. If your goal is to increase your retirement fund, focus on contributing to your employer’s plan, meet the employer match and consider opening an IRA to continue to build your nest egg.

6. Save for something fun

Who says financial goals can’t be fun? Whether you’re saving for a vacation, your dream car, or something else, it’s okay to set money aside as long as you have a plan for it. Saving up and purchasing something you want can feel like a real win. To achieve this, calculate the sum you need to save and set aside a specific amount each month. A digital experience such as Life Plan can help you break down your goals into attainable milestones.

Whatever you’re wishing for in 2021, now is the time to make a plan for reaching your goals. Visit bankofamerica.com/lifeplan to learn more.

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Study: Social isolation among seniors is widespread, but these resources can help

2020-12-28T23:01:00

(BPT) – Because of the pandemic, we’ve all experienced social isolation — the loss of close contact with family and friends. We’re feeling that isolation even more acutely during the winter season, when we typically get together with those we love.

For older adults who have had to take extra isolating precautions against exposure to COVID-19, these losses have been magnified, and in many cases, they’re layered on top of longstanding disconnections.

With 36% of adults in America age 50 or older and 17% over 65, it’s reasonable to assume that social isolation is widespread. A recent survey of U.S. adults conducted by AARP Foundation and the United Health Foundation confirms it: The study found that two-thirds of respondents are experiencing social isolation, with nearly that number feeling more anxiety because of the pandemic. The consequences are disturbing.

“Social isolation has reached epidemic proportions during the pandemic,” says AARP Foundation President Lisa Marsh Ryerson. “Decades of research on prolonged social isolation and loneliness show that it’s worse for health than obesity, and as damaging to health as smoking 15 cigarettes a day.”

The survey also reveals that most isolated older adults are not asking others for assistance, perhaps because they don’t realize help is available.

If you or a loved one are experiencing social isolation, whether it’s COVID-related or a daily reality that was already present, here are some important facts to know based on the AARP Foundation/United Health Foundation survey — followed by tips that can help increase social connection.

Few have sought help about their feelings. Of those reporting social isolation during the pandemic, 50% say it has affected their motivation, 41% report greater anxiety and 37% have experienced feelings of depression. Yet only 11% have turned to medical professionals to help address these concerns, and nearly a third haven’t sought help from anyone.

Women are more susceptible than men. Women 50 and older are more than twice as likely as men to feel overwhelmed as a result of the pandemic. Forty-six percent of women in that age bracket have felt anxious (compared to 36% of men), and 50% have felt stressed (compared to 40% of men). Twenty-nine percent of women 50 or older have gone for as long as three months without interacting with others outside their homes or workplaces.

Low-income adults have seen greater impact. People 50 and older in income brackets of lower than $40,000 a year have been more affected by isolation than those with incomes of $75,000 or more. Forty percent of lower-income respondents report having trouble accessing various resources, 20% point to problems getting food and about 20% have struggled to secure health care services.

Steps you can take. AARP Foundation launched Connect2Affect to address the growing problem of social isolation. Connect2Affect offers helpful tools and resources. Here are some steps you can take to help yourself or a loved one combat social isolation:

  • More medical professionals are now attuned to the physical and emotional toll social isolation can take. Discuss with your primary care doctor how you’re feeling and that it might be related to social isolation.
  • Connect2Affect lists health care, food assistance and other community services available to seniors.
  • Request a supportive phone call from one of AARP’s Friendly Voice volunteers. This program is available free of charge, and you can arrange for ongoing check-in calls.
  • If the holidays or winter season have made social isolation worse for you or a family member, take the 3-minute test on the Connect2Affect site to assess your level of connectedness, then check out some practical (and safe) tips for interacting with others.
  • AARP Foundation offers free chatbots to the general public and in some senior living communities that can provide the comfort of daily conversation.

Social isolation can affect anyone. Find more helpful information at AARPFoundation.org.

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Money Management Tips for the COVID Generation

2020-12-28T10:01:00

(BPT) – By Tori Guttierez, Cetera Investors

There has been a lot of angst over the faltering economy in general, but the “COVID generation” — young adults just hitting the job market or those looking forward to achieving key financial milestones — have been particularly hard-hit by the ongoing coronavirus pandemic. These young workers are facing a tight job market while paying down student debt just as housing prices skyrocket.

While it may seem like a less than opportune time to think about savings and financial well-being, there are good reasons for millennials to be proactive. Even amid recent economic volatility, there are ways for millennials to take advantage of greater financial offerings and new opportunities to save. From adaptive budgeting to strategic investing, there are a number of things savvy millennials can do to enter 2021 with confidence.

Working With the Current Job Market

The job market, for some, is the biggest thing standing between you and financial security. Even well-qualified candidates with years of experience are having trouble landing a job. But there are some things you can do in the coming months to stay active in the workforce and stabilize your finances.

First, take advantage of any and all unemployment or enhanced relief benefits available to you due to the pandemic. Once another round of federal stimulus funding is passed in Congress, these benefits could be available for a longer period of time.

If you don’t qualify for these benefits, or want to explore ways to make money, gain job experience by joining the gig economy. Many businesses have shifted to a remote workforce amid COVID-19 and are looking for short-term or part-time employees. And the digital marketplace for goods and services has opened up more outlets for starting an online business even as you continue to search for a full-time position.

Your chances of success will depend in part on your professional profile and how you position yourself. Now’s a good time to polish up your digital presence. Create a compelling LinkedIn profile and engage with other professionals and relevant content on the platform. Review your social media accounts and make sure they present you in a professional light.

Investing with Confidence

In addition to the professional considerations, it’s important to attend to financial issues. Did the budget you mapped out earlier this year shift as a result of quarantines and social distancing? For most people, that answer is yes. We spent less on gas and more on groceries, for example. And you may have had money set aside for travel or a special purchase that was put on hold. Reworking your budget to reflect those lifestyle changes can help you set aside more for savings, retirement and a 2021 emergency fund.

As advisors to clients in this age category, Cetera and I have additional tips of relevance to millennials struggling with the volatility of today’s economy:

  • Review your retirement investments. If you find yourself in a lower tax bracket this year, you should look at your retirement plans for places to take advantage of the current circumstances. You might open a Roth IRA, and even consider moving some of your 401(k) to achieve tax advantages.
  • Capitalize on Dollar Cost Averaging. We all hope to time our investments just right, riding the market up and making a killing when it peaks. But it’s nearly impossible to time the market’s highs and lows. A surer way to prosperity, though, is through regular, incremental investments that grow securely over time. Research bears out that systematic investment behavior — setting up consistent, automatic contributions to investment, savings and retirement accounts, or a “set it and forget it” strategy — yields better results in the long run.
  • Match your portfolio to your values. This isn’t the first generation to fight for social change, but millennials have been outspoken in voicing their commitment to addressing issues like climate change, racial inequity and poverty. There are a growing number of ways to invest with purpose. A financial professional can help you align your portfolio with your values.
  • Look for pay-as-you-go services. Younger professionals don’t have the scale of assets necessary to take advantage of full-service financial advising, given fees that benefit large or diversified investment portfolios. There are a growing number of advisors who are right-sizing their services for new clients with smaller portfolios. The options range from subscription-based financial management packages to a la carte or pay-as-you-go fee structures. These can save you considerable money as you gain your financial footing.

Beyond these key to-do’s, my Cetera colleagues Damon Accardi and David Tozer lay out some additional considerations when it comes to developing your broader 2021 financial plan:

  • Get smart about trading. This year’s unprecedented volatility has brought out the day traders in many of us and its momentum has sustained. A good rule millennials should keep in mind heading into 2021 is that it’s “time in the market not timing in the market” that leads to long-term success.
  • Consider an app. Millennials are digitally native and know a second opinion or crowd-sourcing ideas has long been available with a swipe. A variety of apps can aid in financial planning but do your research. It’s good to discuss the basic pros and cons of, say, Acorn, Robinhood or some of the apps catered to the millennial generation with a financial professional. While those apps may have their advantages, some may have hidden costs or features that take you off course. An investment professional can help you understand the complexities of investing and how to withdraw funds (one of the biggest challenges we often observe).
  • Find a financial professional that understands your needs. No matter your age or where you are in your career, finding a financial professional who understands your circumstances and interests can help you navigate the complex landscape right now. For millennials, there are unique advantages to working with a financial professional. An advisor can help you set objective, achievable financial goals and hold you accountable to them.

While periods of economic strife can feel daunting, taking a strategic and proactive approach to managing your finances can set you on a positive trajectory in the long term. Our current fiscal challenges are temporary, so patience and resilience, and some savvy strategies, are all that you need to stay on the path to a brighter future.

Tori Gutierrez is Financial Advisor and Investment Adviser Representative for Cetera Investors. She is based in Pasadena, CA.

Please note:

A Roth IRA offers tax free withdrawals on taxable contributions. To qualify for the tax-free and penalty-free withdrawal of earnings, a Roth IRA must be in place for at least five tax years, and the distribution must take place after age 59½ or due to death, disability, or a first time home purchase (up to a $10,000 lifetime maximum). Depending on state law, Roth IRA distributions may be subject to state taxes.

Before rolling over your retirement account, consider all available options, which include remaining with your current retirement plan, rolling over into a new employer’s plan or IRA, or cashing out the account value. When deciding between an employer-sponsored plan and IRA, there may be important differences to consider — such as range of investment options, fees and expenses, availability of services, and distribution rules (including differences in applicable taxes and penalties). Depending on your plan’s investment options, in some cases, the investment management fees associated with your plan’s investment options may be lower than similar investment options offered outside the plan.

Dollar-cost averaging will not guarantee a profit or protect you from loss but may reduce your average cost per share in a fluctuating market.

A diversified portfolio does not assure a profit or protect against loss in a declining market.

Please add the Investment Risk disclosure: “All investing involves risk, including the possible loss of principal. There is no assurance that any investment strategy will be successful.”.

About Cetera Financial Group®

Cetera Financial Group (Cetera) is a leading financial advice firm. It empowers the delivery of an Advice-Centric Experience® to individuals, families and businesses across the country through independent financial professionals as well as trusted tax professionals and banks and credit unions. It’s headquartered at 200 N. Pacific Coast Highway, Suite 1200 El Segundo, CA 90245-5670.

Comprehensive services include: wealth management solutions, retirement plan solutions, advisory services, practice management support, innovative technology, marketing guidance, regulatory support, and market research.

“Cetera Financial Group” refers to the network of independent retail firms encompassing, among others, Cetera Advisors LLC, Cetera Advisor Networks LLC, Cetera Investment Services LLC (marketed as Cetera Financial Institutions or Cetera Investors), Cetera Financial Specialists LLC, and First Allied Securities, Inc. All firms are members FINRA / SIPC.

Individuals affiliated with Cetera firms are either Registered Representatives who offer only brokerage services and receive transaction-based compensation (commissions), Investment Adviser Representatives who offer only investment advisory services and receive fees based on assets, or both Registered Representatives and Investment Adviser Representatives, who can offer both types of services.

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How to change the way you approach health and wellness in 2021

2020-12-28T17:27:00

(BPT) – It’s been a challenging year for many in the U.S. and around the world. But despite the uncertainty and unpredictability it brought, many have already adjusted their wellness regimen this year and are planning to prioritize this as a continued focus in 2021.

A recent survey sponsored by OPTAVIA* of 1,414 adults showed that 63% of Americans have changed the way they approach health and wellness amid the pandemic, well ahead of the new year. However, 74% of people say they need support to maintain healthy habits as the pandemic continues, underscoring the benefits of having both a solid plan and a strong support system.

Creating healthy habits that can last a lifetime

Organizing life around the pursuit of what’s most important to you can enhance your tolerance to the challenges life inevitably dishes out. So, if you’re deciding to invest — or continuing to invest — in your health, a holistic approach can keep you well-balanced and more likely to stay on track in 2021 and beyond.

You’ve heard the story before: People want to lose weight in the new year, so they get a gym membership that rarely gets used or they go on a crash diet. As the story goes, they’re back to their old ways before the end of January. When people attempt to “fix” their poor health-related habits with radical overnight changes, it rarely helps them create health in the long-term.

In 2021, though, diet and exercise aren’t the only areas of wellness Americans are pursuing. Many are focusing on improving their health holistically through better sleep or practicing mindfulness.

No matter your goal, these tips from Dr. Wayne Scott Andersen (Dr. A), independent OPTAVIA Coach and co-founder of OPTAVIA, a fast-growing health and wellness community focused on healthy habit creation, can help you achieve — and keep! — healthy habits:

  • Know your purpose: If you’re looking to improve your health, having a reason to do so can be motivating. Before you start, think about why your healthy habit goals are important to you. That way, if you hit a roadblock, you can keep your “why” in mind and stay focused.
  • Set realistic goals: Motivation is important. However, it can cause you to bite off more than you can chew, especially when it comes to your health and wellness regimen. The more intensely you focus on your end-goal at first, the more likely your motivation will fade with time. Instead of pursuing your end-goal full force, stay on track and build your confidence by starting small and gaining momentum. Here’s how:
    1. Identify achievable changes to your daily routine that are easy to repeat, like a 15-minute walk or a 5-minute breathing exercise.
    2. On days when your motivation is high, spend more time on it — try a 15-minute breathing exercise.
    3. Once the activities you choose become second nature, then you can start to do them more often or a little longer each time.
  • Be accountable yet compassionate with yourself: According to Dr. A, it’s impossible to achieve 100% of your health goals 100% of the time. It’s common to fail from time to time and make mistakes along the way. But you know what? That’s OK. Instead of beating yourself up, reframe your mindset and take “failure” as a learning opportunity. Show yourself a little compassion. When you do this, it’s a lot easier to shake off the shame and focus on your end goal, which increases motivation.
  • Seek support from loved ones or a professional: Behavior change can be hard and people need support to reach their goals. Any successful person will tell you it took a village. Find a coach, a counselor, a friend or family member or even a community of people with shared interests and goals. Those who see your potential can celebrate your victories and help you work through challenges to help you push through.

Healthy habits lead to a happy life

While we don’t know what 2021 will bring, investing in your well-being is always worth it. OPTAVIA can help you build a healthy lifestyle by teaching you how to adopt healthy habits. With some determination, self-compassion and the right tools and support, you can create a lasting wellness regimen that fits with your lifestyle.

*All figures, unless otherwise stated, are from YouGov Plc. Total sample size was 1414 adults. Fieldwork was undertaken between 19th – 20th October 2020. The survey was carried out online. The figures have been weighted and are representative of all US adults (aged 18+). The margin of error for this survey is +/- 3% at 95% confidence.