The Rademacher Report- Quarter 3 2017Submitted by Rademacher Financial Inc. on August 14th, 2017
13 Tips To Plan The Trip Of Your Dreams
If you decide to embark on a trip it is because you want to discover something more from this amazing world. And let’s face it, travel in a sense means to explore the unknown and it is for this reason that many are opting to travel. Follow these travel tips and learn how to get the most from your holiday.
1. Choose destinations that you can afford and make ends meet
Planning a holiday becomes simpler once established which destinations you can or cannot afford. If you do not have budget problems, you can unleash your imagination. For everyone else, do not lose heart, you can simply plan your trips in a somewhat more tactical manner.
In most cases, the ticket for the journey is the most expensive part, while other destinations for example, neighboring cities are accessible for less to spend the weekend. Considering your budget is always a good idea and then focus on countries where the exchange rate is favorable and where the cost of living is much lower than that of your country.
Although it is not always easy to make ends meet, just the fact of trying will enable you to reduce stress, avoid spending too much and getting the most from your travel experiences.
2. Start a list
Prepare reachable trip goals and list the places that you could realistically visit this year, in addition to some extra destinations you dream of visiting. At the right moment, when you can travel, enjoy a holiday in one of these destinations. Putting pen to paper these goals will give you the motivation, when you need to achieve them.
3. Do not keep your mouth shut
So you dream to attend a yoga retreat in Kerala or you want to camp with the wolves in Quebec. Discuss it with those around you as other people may have already experienced the holiday of your dreams and can offer amazing travel tips that will create even more desire in you to leave.
4. Do not be afraid to travel alone
Are you ready to leave but cannot find a travelling companion? Very simple: try to travel alone. Discover the freedom to travel where, how and when you want. It is extremely rewarding and who knows, you may even make new international friendships along the way.
5. Contact the locals
The world may seem endless, but now you can just click to get in touch with someone, even thousands of miles away. Knowing a local can help reassure you and make your adventure less risky. Several forums, booking services of accommodation and online communities can help you easily contact people living in the destination of your next trip, so allowing you to get great advice from someone who really knows the place.
6. Discover outdoor holidays
Who said that travelling is to spend long periods in distant places? There are interesting places all around us, and to discover destinations around the corner can be a great way to start travelling. To get to know your country, visit all the museums and all the sights that are not to be missed. If you waste less time on transport, you will have more time to visit, enjoy and discover the country in which you live.
7. Find a travel companion with similar interests
A travel companion can ruin a vacation or make it memorable, so it’s good to carefully choose the person you want to travel. This means that your ideal travel companion may not be your best friend or your loved one, but rather a newer acquaintance, colleague or even a relative that you did not see for a while but would like to renew ties. In other words, think out of the box. Once you have found your travel companion, evaluate together the budget, interests and expectations before you leave. You might even find inspiration to visit places that you’ve never heard of. In addition, you can also get in touch with your contacts and you will then have twice as many places to visit and twice as many people to meet.
8. Connect to disconnect
The Internet is a very useful tool, but it is good to reconnect with real life at least when you are abroad. Instead of learning how to say “Do you have the free wifi?” In Chinese, download guides and maps in your phone before you travel and use them offline and start exploring your destination like a local. cont. pg. 4
9. Take advantage of indirect flights
Whether it is a few hours at an airport or a night in a strange city, exploit the most of your stopovers. We suggest that you take the air route as long as possible. Not only is it likely that the price would be cheaper, but you can also leave the airport and discover your destination in the middle before reaching the final. It’s like making two trips for the price of 1.
10. Meet your family half way
Often, we find ourselves far from our loved ones. Instead of always going back and forth between your respective cities, choose a destination half way and meet up there. You can thus visit destinations that otherwise you would never have considered, all while you spend valuable time with people you love.
11. Make the most of your business trips
Some people are lucky enough to have a job that allows them to travel. Of course, taking part in the office conference does not mean you should spend all day at the office, but you could have some free time to visit a few tourist attractions or just to see how the locals live. The most valuable advice is to try to get away as soon as possible from the work environment and explore at your own pace.
12. Be inspired
Follow travel bloggers, travelers on Instagram or blogs to stay up to date on the most exciting destinations and discover interesting facts about other cultures. Sometimes, we get pleasantly surprised by destinations that we did not know to be within our reach. Moreover, daydreaming and admiring pictures of the beach is always better than watching the rain outside your window, unless you love rain, of course.
13. Just do it
What are you waiting for? There are many ways to discover the world by travelling and this is the right time to explore all those places that you have always dreamed of visiting. Sometimes, too much of thinking becomes an obstacle to the realization of our objectives. So go out and buy the ticket, and then everything else is just a wonderful adventure.
The Health-Wealth Connection
It’s a vicious cycle: Money is one of the greatest causes of stress, prolonged stress can lead to serious health issues,
and health issues often result in yet more financial struggles.¹ The clear connection between health and wealth is why
it’s so important to develop and maintain lifelong plans to manage both.
The big picture
Consider the following statistics:
- More than 20% of Americans say they have either considered skipping or skipped going to the doctor due to financial worries. (American Psychological Association, 2015)
- More than half of retirees who retired earlier than planned did so because of their own health issues or to care for a family member. (Employee Benefit Research Institute, 2017)
- Chronic diseases such as heart disease, type 2 diabetes, obesity, and arthritis are among the most common, costly, and preventable of all health problems. (Centers for Disease Control and Prevention, 2017)
- Chronic conditions make you more likely to need long-term care, which can cost anywhere from $21 per hour for a home health aide to more than $6,000 a month for a nursing home. (Department of Health and Human Services, 2017)
- A 65-year-old married couple on Medicare with median prescription drug costs would need about $265,000 to have a 90% chance of covering their medical expenses in retirement. (Employee Benefit Research Institute, 2017)
Develop a plan for long-term health ...
The recommendations for living a healthy lifestyle are fairly straightforward: eat right, exercise regularly, don’t smoke or
engage in other risky behaviors, limit soda and alcohol consumption, get enough sleep (at least seven hours for most
adults), and manage stress. And before embarking on any new health-related endeavor, talk to your doctor, especially
if you haven’t received a physical exam within the past year. Your doctor will benchmark important information such as
your current weight and risk factors for developing chronic disease. Come to the appointment prepared to share your
family’s medical history, be honest about your daily habits, and set goals with your doctor. Other specific tips from the
Department of Health and Human Services include:
- Nutrition: Current nutritional guidelines call for eating a variety of vegetables and whole fruits; whole grains; low-fat dairy; a wide variety of protein sources including lean meats, fish, eggs, legumes, and nuts; and healthy oils. Some medical professionals are hailing the long-term benefits of the so-called “Mediterranean diet.” Details for a basic healthy diet and the Mediterranean diet can be found at health.gov/dietaryguidelines.
- Exercise: Any physical activity is better than none. Inactive adults can achieve some health benefits from as little as 60 minutes of moderate-intensity aerobic activity per week. However, the ideal target is at least 150 minutes of moderateintensity or 75 minutes of high-intensity workouts per week. For more information, visit health.gov/paguidelines.
... and long-term wealth
The recommendations for living a financially healthy life aren’t quite as straightforward because they depend so much
on your individual circumstances. But there are a few basic principles to ponder:
- Emergency savings: The amount you need can vary depending on whether you’re single or married, self-employed or work for an organization (and if that organization is a risky startup or an established entity). Typical recommendations range from three months’ to a year’s worth of expenses.
- Retirement savings: Personal finance commentator Jean Chatzky advocates striving to save 15% of your income toward retirement, including any employer contributions. If this seems like a lofty goal, bear in mind that as with exercise, any activity is better than none — setting aside even a few dollars per pay period can lead to good financial habits. Consider starting small and then increasing your contributions as your financial circumstances improve.
- Insurance: Make sure you have adequate amounts of health and disability income insurance, and life insurance if others depend on your income. You might also consider long-term care coverage.²
- Health savings accounts: These tax-advantaged accounts are designed to help those with highdeductible health plans set aside money specifically for medical expenses. If you have access to an HSA at work, consider the potential benefits of using it to help save for health expenses.habits and improve their finances.
How Do The Economic Milestones Of Young Adults Today Compare With Prior Generations?
If you’re the parent of a young adult who is still living at home, you might be wondering whether this situation is commonplace. According to a recent U.S. Census Bureau study, it is: One in three young people (ages 18 to 34) lived in their parents’ home in 2015.
The Census Bureau study examines how the economic and demographic characteristics of young adults have changed from 1975 to 2016. In 1975, for example, less than one-fourth of young adults (ages 25 to 34) had a college degree. Young adults in 2016 are better educated — more than onethird hold a college degree (or higher) — but student loan debt has made it more difficult for them to obtain financial stability, let alone establish homes of their own in their 20s.
More young adults in 2016 had full-time jobs than their counterparts did in 1975. In particular, young women ages 25 to 34 are experiencing economic gains, with more than two-thirds in the workforce compared with less than half in 1975. Young women today are also earning more money than they did in 1975 — their median incomes have grown from nearly $23,000 in 1975 to more than $29,000 in 2016 (in 2015 dollars).
Despite the educational and economic advances that young adults have made over the last 40 years, many are postponing traditional adult milestones. In fact, a majority of young adults are not living independently of their parents. Of the 8.4 million 25- to 34-year-olds still living at home, one in four are not attending school or working. It’s important to note, though, that this could be because they are caring for a family member or have health issues or a disability.
Compared to 40 years ago, the timing and accomplishment of milestones on the path to adulthood
are much more diverse and complex today. To view the full report, visit census.gov.
Source: U.S. Census Bureau, “The Changing Economics and Demographics of Young Adulthood: 1975-2016,” April 2017
CHART: YOUNG ADULT MILESTONES, 1975 VS. 2016
The following pie charts compare four common milestones of adulthood — getting married, having
children, working, and living independently — achieved by young adults ages 25 to 34 in 1975 and
2016. The data indicates that the experiences of young people today are more diverse, with fewer
accomplishing all four milestones in young adulthood. Instead, many young adults are delaying or
forgoing some experiences (marrying and having children) in favor of others (living independently
and gaining work experience).
Source: U.S. Census Bureau, “The Changing Economics and Demographics of Young Adulthood: 1975-2016,” April 2017
Note: As with most financial decisions, there are expenses associated with the purchase of life insurance. Policies commonly have mortality and expense charges. In addition, if a policy is surrendered prematurely, there may be surrender charges and income tax implications.
Note: While trusts offer numerous advantages, they incur up-front costs and often have ongoing administrative fees. The use of trusts involves a complex web of tax rules and regulations. You should consider the counsel of an experienced estate planning professional and your legal and tax advisors before implementing such strategies. Source: U.S. Census Bureau, "The Changing Economics and Demographics of Young Adulthood: 1975-2016," April 2017
Content prepared by Broadridge Investor Communication Solutions Inc.,, has been obtained from sources considered to be reliable, but Raymond James Financial Services, Inc. does not guarantee that the foregoing material is accurate or complete. This information is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation. The information contained in this report does not purport to be a complete description of the securities, markets, or developments referred to in this material. This information is not intended as a solicitation or an offer to buy or sell any security referred to herein. Investments mentioned may not be suitable for all investors. The material is general in nature. Past performance may not be indicative of future results. Raymond James Financial Services, Inc. does not provide advice on tax, legal or mortgage issues. These matters should be discussed with the appropriate professional.
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