A recent Justin Timberlake science-fiction movie called In Time had the premise that, in the future, people will only live as long as they can pay for time. If your credit expires, so do you. The movie was not up to much, but the concept was compelling.
It reflects the fact that people need cash to live, and that extreme poverty in old age leaves people vulnerable. So, while people don't expire the minute their credit runs out, as in the Timberlake movie, there is certainly a link between money and longevity.
That's the scary part about pension planning. It's freighted with thoughts about mortality and fears of some bleak, impoverished finale. The good news is that retirement is manageable and affordable for most, provided you take a few commonsense steps.
So, how much does a Hongkonger need to retire comfortably? A financial adviser with? a rich client base will recommend retirement savings of HK$8 million-plus.
Someone born in Hong Kong who owns their own property and can rely on the support of family would need much less.
"Retirement will usually be by the far the most expensive event in a person's life, so the sooner they start planning for it, the better," says Robert Flux, director of Simmonds (International) Financial Associates.
The first stage of retirement planning is to work out how much you are likely to need each month to live comfortably. People wrongly assume they will need a lot less money during retirement compared with when they are working. But this is often not the case.
While you may no longer have some financial commitments, such as mortgage repayments, spending on groceries and utilities is unlikely to change, and the amount you spend on medical expenses and leisure will probably increase.
"In retirement, you have twice as much time to kill as when you are working. The misconception is that people think they will need less money because they are a little bit older and they don't do as much. The exact opposite is proving to be the case, with golden years tourism booming," says? Angelo Dilibero, director of financial services at Alliance Group International.
Alex Chu, director and head of employee benefits at HSBC insurance in Hong Kong, says people should aim for a pension of about 65 per cent of their salary immediately before they retire, assuming they have paid off their mortgage and want to maintain their existing lifestyle. Higher earners will need to maintain a lower proportion of their final salary.
You also need to consider at what age you want to retire, as this will give you a broad idea of how long your retirement pot will have to last.
Chu says men in Hong Kong generally live to 80, and women until 85. Someone who gives up work at 65 will need to have enough money to fund themselves for at least 15 to 20 years. Once you have set a target monthly income and retirement age, the next stage is to establish the size of the lump sum you will need to generate this income.
In general, for those aiming to retire at age 65, and with a pension equivalent to HK$25,000 at today's purchasing power, would need to save about HK$6 million. Those aiming for spending power of HK$35,000 a month would need about HK$8.4 million.
For most people, these sums will sound shockingly high. But they are achievable, assuming you start early enough and you invest.
"If your pension fund is growing at seven per cent to 7.5 per cent on average your fund is roughly doubling every 10 years," says Flux.?
Someone who starts saving into a pension when they are 25 would need to set aside just HK$2,300 a month to reach a target sum of HK$6 million by the time they are 65, assuming average investment growth of? seven per cent a year.
Those starting a pension at 35 would need to save HK$5,000 a month to get the same sum, while starting at 40 would need to save HK$7,500 a month.
The other advantage of starting to save early is that you can afford to pursue a more aggressive investment strategy. Risky assets can fluctuate widely in value. But over decades, the returns even out and they typically outperform less volatile investments, such as bonds. A long investment time frame gives an ability to ride out downturns, and the comfort to invest in higher risk assets with higher? returns.
If a 25-year-old saved HK$2,500 a month into a fund that returned an average of eight per cent a year, their retirement pot would be worth about HK$8 million in 40 years, 25 per cent more than if they had only managed seven per cent growth.
If you are not saving enough, one of the simplest steps is to plan to retire later in life. This extends your savings time frame, and cuts the retirement period you have to fund.
You can also simplify. People who have most of their spare capital in a property can sell it for something cheaper and live off the potentially large capital gain.
"There are two ways we arrive at the amount people should save. One is a target figure? ? the other is an affordability rate: how much can you realistically and comfortably save to begin to build towards that," says Dilibero.
Hong Kong is actually a good place to become very old, thanks to a heavily subsidised, world-class medical system, and cheap domestic help. People in Western countries get walloped in old age by medical costs and the high cost of retirement homes, but this is less the case in Hong Kong.
But whatever one's expectations, a little planning goes a long way.
In This Entertaining Handbook, You Can Find Out How Three Simple Ingredients Can Help Improve Almost Every Aspect Of Your Health, Lose Weight And Boot Your Libido, The Natural Way. Forget What You Think, This Book Is Full Of Surprises.
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Use Vinegar to Clean Fruit & Vegetables!
In this episode Dave shows a method of using vinegar to clean your fruits and vegetables! 14 views | 0 comments
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Apple Cider Vinegar for Acid Reflux
Interested in learning more about apple cider vinegar and acid reflux, and other home remedies? Go to www.homeremediesheartburn.net where you will find lots of tips on how to use home remedies to cure heartburn and acid reflux. Ranked 1.11 / 5 | 17 views | 0 comments
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Top Chef Masters - Plating Blind Season: 3
Top Chef Masters Season: 3 Episode: 9 The chefs instruct their partners how to cook their dish and plate it without seeing their partner. Ranked 3.60 / 5 | 85 views | 0 comments
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Health Benefits of Apple Cider Vinegar - Detailed Information
http://healingpowerhour.com Learn all the health benefits of Apple Cider Vinegar. Learn how to drink ACV and which brands are the best quality and which are worthless. This video is full of information relative to healing benefits of Apple Cider Vinegar. In this video you will learn............... What is Apple Cider Vinegar How does Apple Cider Vinegar works Which brand of Apple Cider Vinegar is the best How to drink Apple Cider Vinegar 112 views | 0 comments
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How To Get Rid Of Mold
Mold can release particles that can cause headaches, irritated eyes, coughing, and wheezing. Safely remove mold from your home by using these helpful tips. Ranked 4.64 / 5 | 104 views | 0 comments
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Top Chef - Cooking Tip W/ Gail Simmons - Salad Dressing Season: 3
Top Chef Season: 3 Once you can make a great basic salad dressing like Gail's, you can go in many directions. Ranked 4.00 / 5 | 51 views | 0 comments
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Top Chef - Cooking Tip W/ Gail Simmons - Breads Season: 3
Top Chef Season: 3 Never underestimate how delicious bread can be. Ranked 4.00 / 5 | 34 views | 0 comments
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How to Make Herbal Medicine Vinegar Tincture.
Tim Walking Bear Goodblood, "The Plant Whisperer" teaches how to make a vinegar tincture. Tim teaches herbal medicine at his school of wild-crafted herbalism, in beautiful Athens, Maine USA. Apprentice with Walking Bear online or in person.order DVDs now! Distributed by Tubemogul. 97 views | 0 comments
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SEO Budgets Grow, Google Tells You What To Avoid
Google has been making SEO more difficult for years, and perhaps that?s why a new study from SEMPO, the world?s largets search marketing-specific nonprofit trade organization, has found that SEO spending is still healthy, despite all of the freely available ?
Adobe Discusses SEO Secret Weapon at BrightEdge #Share12
Adobe SEO manager David Lloyd discussed how the company uses search data and content optimization to inform print collateral, advertising, social media and web design.
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The Evolution Beyond Technical SEO, Code & ?Software Gurus?
Before you set out on a road trip or holiday, you check the weather forecast to see how things are going to be. An SEO forecast is equally important while you plan your marketing strategy, because things evolve quickly in this area thanks to Google?s frequent algorithm changes.
BOISE, Idaho (AP) - The travel plan for a wilderness study area on the Idaho and Montana border is being challenged in court.
The Idaho Statesman reports (http://bit.ly/RCqcci ) that the lawsuit was filed by the Blue Ribbon Coalition and the Idaho Snowmobile Association. It takes on the Clearwater National Forest's decision to ban motorcycles, ATVs, snowmobiles and mountain bikes in the Great Burn wilderness study area.
The groups argue that only Congress can designate wilderness areas. They argue the Forest Service is wrongly attempting to manage the area as wilderness without formal declaration.
Environmentalists argue the wilderness character needs to be preserved so that it can one day be declared a formal wilderness area.
The Wilderness Society says it expects to join the legal battle over the travel plan.
Information from: Idaho Statesman, http://www.idahostatesman.com
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Annals of Internal Medicine tip sheet for Sept. 4, 2012Public release date: 3-Sep-2012 [ | E-mail | Share ]
Contact: Angela Collom acollom@acponline.org 215-351-2653 American College of Physicians
1. No Nutritional or Safety Differences Between Organic and Conventional Foods
There is generally no difference in nutritional value or risk for bacterial contamination between organic and conventional foods, according to a new study being published in Annals of Internal Medicine, the flagship journal of the American College of Physicians (ACP). While the consumption of organic fruits and vegetables reduced exposure to any detectable pesticide residues by 30 percent, pesticide levels were generally within the allowable limits for safety.
Researchers conducted a systematic review of 17 human studies and 223 studies of nutrient and contaminant levels in unprocessed foods such as fruits, vegetables, grains, milk, eggs, chicken, pork, and meat to compare the health, nutritional, and safety characteristics of organic and conventional foods. They found that the published literature lacks strong evidence that organic foods are significantly more nutritious than conventional foods.
"Some believe that organic food is always healthier and more nutritious," said Crystal Smith-Spangler, MD MS, a VA Physician Fellow at CHP/PCOR, and lead author of the paper. "My colleagues and I were a little surprised that we didn't find that."
The researchers did find weak evidence of the nutritional superiority of organic foods in that organic produce contained significantly higher levels of total phenols, a compound that may have antioxidant properties, and that organic milk and chicken contained significantly higher levels of omega-3 fatty acids. However, the researchers concluded that since few people have phosphorous deficiency, the finding has little clinical significance.
Sales of organic foods have increased dramatically is the US. Between 1997 and 2010 organic food sales have risen from $3.6 billion to over $26 billion annually. Prices vary, but consumers my pay up to twice as much for organic foods versus conventional. In general, to be certified "organic," produce must be grown without synthetic pesticides or fertilizers or routine use of antibiotics or growth hormones. Organic livestock are fed organically produced feed and are free to roam outdoors. In addition, organic regulations typically require that organic foods are processed without irradiation or chemical food additives and are not grown from genetically modified organisms.
"There are many reasons why consumers may choose to purchase organic food," said Smith-Spangler. "We examined published literature to assess the evidence for significant differences in nutrition, food safety, and health outcomes between organic and conventional foods and populations consuming these foods. However, consumers may choose to purchase organic foods for other reasons besides nutrition and food safety, such as concern for animal welfare, the environment, or preferences in taste."
Note: For an embargoed PDF, contact Angela Collom. For an interview with Dr. Smith-Spangler, please contact Michelle Brandt at mbrandt@stanford.edu or 650-723-0272.
2. NA-ACCORD Proves a Useful Tool for Monitoring Trends and Outcomes in HIV Care
Many studies report trends in clinical outcomes of persons receiving HIV care in the U.S., but few have been specifically designed to be nationally representative. This is an important distinction as researchers strive to continue to make improvements in care and outcomes for all people living with HIV in the U.S. NA-ACCORD (North American AIDS Cohort Collaboration on Research and Design) is the largest cohort of HIV-infected adults in North America, with more than 100,000 patients enrolled. Researchers pooled and analyzed NA-ACCORD data on approximately 45,000 U.S. patients from 2000 - 2008 to determine its utility in monitoring trends in the HIV epidemic, HIV treatment, and related health outcomes. They found that participants in NA-ACCORD were demographically similar to all U.S. persons living with HIV infection. An analysis of data showed that the percentage of U.S. participants in clinical care who were prescribed HAART (highly active antiretroviral therapy) increased, as did the percentage of all patients who achieved a suppressed HIV viral load. At the same time, the media CD4 cell count at death increased. The researchers conclude that data from NA-ACCORD can inform progress toward national HIV goals.
Note: For an embargoed PDF, contact Angela Collom. For an interview with lead author, Dr. Keri Althoff, please contact her directly at kalthoff@jhsph.edu or 410-614-4914.
3. Claims Data Lacks Accuracy and Consistency Needed to Inform Nonpayment or Hospital Comparisons
The Centers for Medicare & Medicaid Services (CMS) limits payment for key "preventable" complicating conditions acquired during hospital stay. The claims data is used to deny payment, and the data is reported publicly so that hospitals can be compared by complication rate. Catheter-associated urinary tract infection (CAUTI) was the first condition targeted for such nonpayment. Researchers examined data from 96 Michigan hospitals to compare rates of UTIs in adults that are coded in claims data as hospital-acquired and catheter-associated events and evaluate how often nonpayment of CAUTI lowers hospital payments. The researchers found that only 2.6 percent of all hospital-acquired UTIs were described in the claims data as catheter-related, making financial savings based on nonpayment negligible. Further, epidemiologic studies report that most hospital-acquired UTIs are catheter-associated (59 86 percent), which makes the accuracy of the claims data suspect. The researchers and the author of an accompanying editorial conclude that current hospital claims data may not be an accurate source for measures used to compare institutions and guide financial incentives. According to the editorialist, consistent use of electronic health records, sharing best practices, and focusing on patient-centered care and safety can improve the accuracy of the data hospitals are reporting.
Note: For an embargoed PDF, contact Angela Collom. For an interview with lead author Dr. Jennifer Meddings, please contact Beata Mostafa at bmostafa@umich.edu or 734-764-2220.
###
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?
AAAS and EurekAlert! are not responsible for the accuracy of news releases posted to EurekAlert! by contributing institutions or for the use of any information through the EurekAlert! system.
Annals of Internal Medicine tip sheet for Sept. 4, 2012Public release date: 3-Sep-2012 [ | E-mail | Share ]
Contact: Angela Collom acollom@acponline.org 215-351-2653 American College of Physicians
1. No Nutritional or Safety Differences Between Organic and Conventional Foods
There is generally no difference in nutritional value or risk for bacterial contamination between organic and conventional foods, according to a new study being published in Annals of Internal Medicine, the flagship journal of the American College of Physicians (ACP). While the consumption of organic fruits and vegetables reduced exposure to any detectable pesticide residues by 30 percent, pesticide levels were generally within the allowable limits for safety.
Researchers conducted a systematic review of 17 human studies and 223 studies of nutrient and contaminant levels in unprocessed foods such as fruits, vegetables, grains, milk, eggs, chicken, pork, and meat to compare the health, nutritional, and safety characteristics of organic and conventional foods. They found that the published literature lacks strong evidence that organic foods are significantly more nutritious than conventional foods.
"Some believe that organic food is always healthier and more nutritious," said Crystal Smith-Spangler, MD MS, a VA Physician Fellow at CHP/PCOR, and lead author of the paper. "My colleagues and I were a little surprised that we didn't find that."
The researchers did find weak evidence of the nutritional superiority of organic foods in that organic produce contained significantly higher levels of total phenols, a compound that may have antioxidant properties, and that organic milk and chicken contained significantly higher levels of omega-3 fatty acids. However, the researchers concluded that since few people have phosphorous deficiency, the finding has little clinical significance.
Sales of organic foods have increased dramatically is the US. Between 1997 and 2010 organic food sales have risen from $3.6 billion to over $26 billion annually. Prices vary, but consumers my pay up to twice as much for organic foods versus conventional. In general, to be certified "organic," produce must be grown without synthetic pesticides or fertilizers or routine use of antibiotics or growth hormones. Organic livestock are fed organically produced feed and are free to roam outdoors. In addition, organic regulations typically require that organic foods are processed without irradiation or chemical food additives and are not grown from genetically modified organisms.
"There are many reasons why consumers may choose to purchase organic food," said Smith-Spangler. "We examined published literature to assess the evidence for significant differences in nutrition, food safety, and health outcomes between organic and conventional foods and populations consuming these foods. However, consumers may choose to purchase organic foods for other reasons besides nutrition and food safety, such as concern for animal welfare, the environment, or preferences in taste."
Note: For an embargoed PDF, contact Angela Collom. For an interview with Dr. Smith-Spangler, please contact Michelle Brandt at mbrandt@stanford.edu or 650-723-0272.
2. NA-ACCORD Proves a Useful Tool for Monitoring Trends and Outcomes in HIV Care
Many studies report trends in clinical outcomes of persons receiving HIV care in the U.S., but few have been specifically designed to be nationally representative. This is an important distinction as researchers strive to continue to make improvements in care and outcomes for all people living with HIV in the U.S. NA-ACCORD (North American AIDS Cohort Collaboration on Research and Design) is the largest cohort of HIV-infected adults in North America, with more than 100,000 patients enrolled. Researchers pooled and analyzed NA-ACCORD data on approximately 45,000 U.S. patients from 2000 - 2008 to determine its utility in monitoring trends in the HIV epidemic, HIV treatment, and related health outcomes. They found that participants in NA-ACCORD were demographically similar to all U.S. persons living with HIV infection. An analysis of data showed that the percentage of U.S. participants in clinical care who were prescribed HAART (highly active antiretroviral therapy) increased, as did the percentage of all patients who achieved a suppressed HIV viral load. At the same time, the media CD4 cell count at death increased. The researchers conclude that data from NA-ACCORD can inform progress toward national HIV goals.
Note: For an embargoed PDF, contact Angela Collom. For an interview with lead author, Dr. Keri Althoff, please contact her directly at kalthoff@jhsph.edu or 410-614-4914.
3. Claims Data Lacks Accuracy and Consistency Needed to Inform Nonpayment or Hospital Comparisons
The Centers for Medicare & Medicaid Services (CMS) limits payment for key "preventable" complicating conditions acquired during hospital stay. The claims data is used to deny payment, and the data is reported publicly so that hospitals can be compared by complication rate. Catheter-associated urinary tract infection (CAUTI) was the first condition targeted for such nonpayment. Researchers examined data from 96 Michigan hospitals to compare rates of UTIs in adults that are coded in claims data as hospital-acquired and catheter-associated events and evaluate how often nonpayment of CAUTI lowers hospital payments. The researchers found that only 2.6 percent of all hospital-acquired UTIs were described in the claims data as catheter-related, making financial savings based on nonpayment negligible. Further, epidemiologic studies report that most hospital-acquired UTIs are catheter-associated (59 86 percent), which makes the accuracy of the claims data suspect. The researchers and the author of an accompanying editorial conclude that current hospital claims data may not be an accurate source for measures used to compare institutions and guide financial incentives. According to the editorialist, consistent use of electronic health records, sharing best practices, and focusing on patient-centered care and safety can improve the accuracy of the data hospitals are reporting.
Note: For an embargoed PDF, contact Angela Collom. For an interview with lead author Dr. Jennifer Meddings, please contact Beata Mostafa at bmostafa@umich.edu or 734-764-2220.
###
[ | E-mail | Share ]
?
AAAS and EurekAlert! are not responsible for the accuracy of news releases posted to EurekAlert! by contributing institutions or for the use of any information through the EurekAlert! system.
Efficiency is the most significant characteristic that gives a business entity its competitive edge. It will win or lose the competition with optimized supply chain management and efficient cash flow. The results of efficiency are cost effectiveness and maximized profits.
Every phase of the business should be evaluated periodically to determine how efficiently the tasks are being performed. New products and methods are constantly changing, and the wise entrepreneurs stay alert to find better products that improve efficiency.
Communications must be swift and timely. Since information that arrives too late has no value, businesses should take every opportunity to expedite communications. File conversion is one area that can increase efficiency and effectiveness of business communication.?Since many documents are in Word format, a business may find it convenient to share those documents in PDF format. By converting Word to PDF files, a business entity may achieve the following:
A new feature in PDF files allows similar editing styles found in Microsoft Word. Similar editing features of two packages decrease preparation time for document conversion.
Voice input
The creation of PDF documents using voice input is available. You may also use voice input for sticky notes.
Web-based collaboration allows editing, document and screen sharing, live chat and voice sessions.
PDF files are made available to everyone who needs to share and edit the same documents using web-based technology.?There are many new features in converting programs from?Word to PDF?and?PDF to excel. These features will increase efficiency in communications. Increased efficiency means more profits.
Cloud technology
Although most users are unaware of the differences between web and cloud operations, there are some differences. PDF files can be shared and edited by anyone who has permission to work in the cloud area.
Digital Rights Management, fax and email
Digital Rights Management is a system that marks files as the property of certain people. Those without permission are locked out. PDF files can be faxed and emailed.
Excel Spreadsheets
There are many spreadsheet applications that businesses find invaluable. By converting PDF to excel, every formula and format is available.
It reflects the fact that people need cash to live, and that extreme poverty in old age leaves people vulnerable. So, while people don't expire the minute their credit runs out, as in the Timberlake movie, there is certainly a link between money and longevity.
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Efficiency is the most significant characteristic that gives a business entity its competitive edge. It will win or lose the competition with optimized supply chain management and efficient cash flow. The results of efficiency are cost effectiveness and maximized profits.