Archives for February 2017

Turns out marriage can do more for your heart than fill it with love. A recent study found that, among other health benefits, married people have a higher probability of surviving a stroke.

They are also more likely to survive major surgery, have fewer heart attacks, be less likely to have advanced cancer when diagnosed and more likely to survive it longer, have a lower chance of becoming depressed and, generally, live longer than those who remain single. Scientists have put forth various reasons for these health benefits, ranging from stronger immune systems to taking fewer risks to living a healthier lifestyle.

Financial health can also be impacted by the dynamics within a marriage. If a husband doesn’t pay the household bills, he may not appreciate how much it costs every time he leaves the hose running after he washes the car. A wife, on the other hand, may not know where the couple’s financial accounts are held or who to consult for emergency cash should her husband become incapacitated.

That’s why we believe it’s best for both spouses to be a part of the conversation when meeting with a financial advisor. It’s important to build a relationship of trust, and that can be difficult to do if one spouse is left out of meetings and annual reviews.

While marriage is often about sharing, it may also be a good idea for each spouse to establish his and her own credit history, even if they share a credit card account, as it is likely one spouse will pass before the other.

In this situation, the deceased spouse should be removed from any jointly owned credit cards. This is one reason it can be a good idea to have individual credit histories, so the surviving spouse isn’t impacted by the loss of the deceased spouse’s credit history. An additional advantage is that a surviving spouse generally is not liable for the outstanding debt of a deceased spouse’s solo accounts.

In the case of second and third marriages, establishing a financial relationship between both spouses is important. For example, if one spouse moves into the home of the other, it may be a good idea to get both names put on the deed.

Health, credit and housing aside, both spouses need to understand their investments and the household net worth. It’s not enough for wives to pay the bills while husbands manage the investments, or vice versa. Ninety percent of women are responsible for managing their finances by themselves at some point in their life — which is particularly unfortunate if they’re forced to take on this task during retirement without a clear understanding of how to do it. 

The content provided here is designed to provide general information on the subjects covered. It is not, however, intended to provide specific legal or tax advice.  Contact us at info@securedretirements.com or call us at (952) 460­-3260 to schedule a time to discuss your financial situation and the potential role of investments in your financial strategy.

In a Rut? This quick trick can make you happier.  According to an article in Reader’s Digest, the secret to happiness is only a few minutes away with this simple mental exercise:  THINK HAPPY THOUGHTS!

The article cites a study in which, before going to bed, German volunteers listed nine beautiful things they’d seen during the day. Three items were from human behavior (like a friend treating another to coffee), three were from nature (a gorgeous sunset), and another three could be from anywhere (a funky font on a sign). Meanwhile, a placebo group reflected on earlier life experiences every night for a week. On day eight, participants reported their happiness levels, then reported back again after a week, and one, three and six months later.

Those who’d spent their time focused on beauty showed more happiness increases than the placebo group right after the study. What’s more, those mood boosts stuck around a week and a month later. The “nine beautiful things” group also reported fewer depressive symptoms right after the practice and one week later.

Here’s the thing about hearing aids: They amplify sound. So if you’re having a conversation with someone, you hear their words louder than the volume at which they’re actually speaking. If they mumble or have an odd accent, that sound won’t be any clearer — just louder. If there’s a lot of background noise, that sound will pump up louder as well. In short, if you want to hear what someone is saying, traditional hearing aids work best in a quiet environment.

However, today’s hearing aids have improved significantly, using microchips, computerization and digitized sound processing (DSP) to convert sound waves into digital signals. These signals are then interpreted by a computer chip to differentiate between noise and speech. Many enable users to control acoustic feedback, reduce extraneous noises and save various settings for different environments.

In 2013, Apple introduced the Made for iPhone hearing aid program in concert with its launch of iOS 7. The program offers various options designed to enable a hearing-impaired person through the use of an iOS device to make phone calls, converse on FaceTime, listen to music and watch movies via direct streaming directly to his ears. The user can adjust the volume and various settings with his iPhone. Another Made for iPhone feature is Live Listen, which enables the iPhone to work as a remote microphone from across the room or wherever it is placed. Similar functions are currently in the works for Android phones as well.

One of today’s more high-tech advances is the cochlear implant. This is an electrical device implanted into the ear that directly stimulates the auditory nerve. The device requires an external microphone, speech processor and a transmitter, all of which are worn externally behind the ear or in a chest pocket. A receiver implanted under the skin receives the transmitted sounds and helps the person perceive sound rather than restore hearing. Cochlear implants are generally recommended for patients with severe hearing loss.

Other types of devices are designed to help hearing impairment with or without a hearing aid. These include television listening devices, personal frequency modulation (FM) systems, conference microphones and telephone amplifiers.