Good Times
via goodtimes.ca
canada's magazine for successful retirement... could be a link .. not terribly exciting otherwise .. unless we thought there was a content option - get an articel by Marie of Awell Future into the magazine?
A Well Future
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seems like a possible candidate for an interview ? or perhaps an affiliate or some other sort of connection. Similar topic and audience to AWF
The meaning of life, health, retirement and all the rest | Today's economy blog
The meaning of life, health, retirement and all the rest
April 07, 2010My friend Dawn Thompson, who works on our corporate marketing team, oversaw the development of a plain language guide for employees recently. It’s an impressive document, and I think it has a lot to offer Today’s economy readers too.
I’ve pulled together a list of key terms you can bookmark for future use. This will help you wade through your financial services company’s materials. And if you ever come away from a meeting with your financial advisor wondering what he or she was talking about, send a link.
A
- Accidental death benefit: money paid to the beneficiary if the person insured dies accidentally
- Accumulation annuity: an investment for a certain period of time at a guaranteed interest rate
- Additional insured: other people covered by the insurance policy
- Adjudicate: the insurance company makes a decision about a claim
- Adjuster: claim reviewer
- Adjustment: an increase or decrease to the amount to be paid out for a claim
- Advance premiums: premiums charged at the beginning of the policy
- Agent of record: agent on the policy
- Amortization period: period during which regular payments are made to pay off a debt/loan
- Annual renewal agreement: agreement in which the insurance company agrees to renew the policy a certain number of times at a specified rate
- Annuity: a policy that pays out money regularly for the rest of the life of the person covered or for some other period of time
- Annuity, survivorship: annuity that goes to the spouse of the person covered if the person dies before the annuity period is over
- Appraiser: person who estimates the value of things
- Assigner: a person who transfers assets to another
- Assignment: transfer
B
- Beneficiary: person who receives the money from an insurance policy or investment account
- Beneficiary, contingent: back-up beneficiary; person who receives the money from the life insurance policy if the first beneficiary dies
- Beneficiary, irrevocable: a beneficiary who can’t be changed without his or her permission
C
- Capital gain: profit on the sale of an investment
- Cash (surrender) value: the amount of money the policy is worth as it grows to its full value; the insurance company pays this money back to the policyholder if he or she asks to end the policy (the insured person can also borrow money from this amount instead of ending the policy)
- Cessation: quitting, stopping
- Claim: an insured person asking the insurance company to pay him or her back for medical costs or other costs covered by the policy; or a beneficiary asking the insurance company to pay a death benefit under a life insurance policy
- Coinsurance: insurance where the insured person pays part of a bill and the insurance company pays the rest
- Collateral insurance: insurance to repay the insured person’s business loans upon his or her death
- Common shares: shares of ownership in a company that allow a person to vote at the company’s annual general meeting
- Company risk: the risk that the individual companies invested in won’t perform as well as expected
- Compulsory insurance: insurance required by law
- Contingent owner: person who will own the life insurance policy if the current owner dies before the policy ends
- Conversion right: right to change a policy (to a different kind of policy)
- Co-payment: the amount of money the insured person pays for certain services or products; the insurance company covers the rest
- Coupon rate: bond’s interest rate
- Credit or default risk: the chance that a company invested in will go bankrupt or have its credit rating downgraded, making it more expensive for the company to borrow money
- Currency or exchange risk: changes in the value of the Canadian dollar affecting one’s investments
- Cut-off clause: time limit for making a claim
D
- Death benefit: money paid to the beneficiary when the person covered by the insurance dies
- Decreasing term insurance: temporary life insurance in which the amount to be paid when the insured person dies goes down every year
- Deductible: the amount of expenses related to a claim that an insured person must pay before the insurance company will pay the rest of the claim
- Deferred premium payment plan: plan that lets an insured person pay the premium over time
- Depreciation: loss of value
- Designate: choose, set, label
- Disburse: pay, pay out
- Discount brokerage: a company that makes trades on behalf of investors, charging a lower commission, but not offering all the services a regular brokerage has (for example, advice)
- Dismemberment: loss of a body part
- Double insurance: two policies covering the same risk
E
- Effective date: start date
- Eligible: allowed, qualified
- Endorsement: addition (to a policy)
- Endowment policy: life insurance policy that will be paid out to the insured person if he or she is still alive when it ends
- Estate: assets and liabilities (of a person who died)
- Estate plan: plan to transfer the insured person’s assets and liabilities when he or she dies
- Excess limits premium: premium to cover a risk that is more costly than what the policy normally covers
- Exclusion: something that is not covered
- Executor: estate manager, person (named in a will) to manage the estate of a person who has died
- Executor de bonis non: replacement estate manager
- Expiration notice: warning of policy end
- Extended term insurance: a type of life insurance that will stay active even if the insured person does not pay the premiums, but only if there is enough money accumulated under the policy so far to pay for the premiums and other fees
- Face amount or face value: coverage amount, amount of insurance
- Face of policy: cover page
G
- Grace period: length of time that the policy will stay valid if the premium has been charged but not paid; or be specific about how long the insured person has grant give
- Group insurance: insurance through a group, often a workplace
- Guaranteed insurability: the ability to increase one’s coverage regardless of one’s health
- Guaranteed investment certificate: an investment for a certain period at a guaranteed interest rate
I
- Incontestability clause: a clause in a policy that says after two years, the insurance company cannot say the policy is invalid unless there was fraud at the time of sale
- Inflation risk: the chance that an investment won’t grow enough to cover the increase in prices over time (meaning today’s money won’t be worth as much in the future as it is worth now)
- Insurable interest: something worth insuring
- Insured: you, person covered by the insurance, insured person
- Interest rate risk: the risk that changes in the interest rate will affect your investment
- Intermediary: agent, negotiator, representative
- Intestate: without a will, not having a will
L
- Lapsed: ended, ended and not continued, cancelled
- Living benefit: money paid in advance (out of the death benefit amount) if the person covered by the insurance is deathly ill
- Longevity risk: the chance that a person will live longer than his or her income can support him or her
M
- Management expense ratio: the portion of a mutual fund’s expenses, including the fund manager’s pay, that are charged by a fund company before any returns are paid to investors
- Market risk: changes in market prices affecting an investment
- Maturity date: the date the bond issuer must repay the value of the bond
- Minimum retained premium: minimum premium kept on cancellation of a policy
- Mortality: death
- Mortgage life insurance: life insurance that, when a person dies, pays the company that holds his or her mortgage
N
- Named insured: person mentioned in the policy and covered by the policy
- Net asset value per share: the value of one unit in a mutual fund
- Non-concurrent insurance: insurance covering different risks
- Non-disclosure: not giving important information
- Non-insurable risk: a risk the insurance company does not insure
O
- Occupational accident: work accident
- Occupational disease: disease from work
- Optional settlement clause: a clause that allows a person to choose how he or she wants the claim paid out
P
- Participating insurance: life insurance that pays out a dividend (money) to its policyholders if the company has surplus earnings related to life insurance; often referred to as “par insurance”
- Payee: the person paid
- Payer: the person paying
- ercentage participation: clause in a health insurance policy that says the percentage of a claim that the insurance company will pay out
- Permanent life insurance: provides lifetime coverage even though the insured person pays premiums for only a pre-determined period of time. As long as the premiums are paid, the life insurance stays in effect, no matter what the insured person’s age or health is
- Permanent partial disability: partly disabled for life
- Permanent total disability: totally disabled for life
- Physical hazard: physical danger
- Policy anniversary: the same month and day, every year, that a policy started
- Policy fund: where payments earn interest based on the investment account options chosen
- Policy limit: the maximum amount of money that the insurance company will pay out in claims under a policy
- Policy provisions: policy details
- Power of attorney: power to act for someone else
- Pre-existing condition: physical condition that existed before the beginning of the policy
- Preferred rates: a person gets lower premiums if he or she is less risky to insure (healthy, non-smoker)
- Preferred shares: shares of ownership in a company that do not give voting rights but do pay dividends (money)
- Premium: the monthly or annual payments in exchange for a life insurance policy
- Premium discount plan: getting a discount for paying premiums ahead of time
- Presumptive disability: considering the loss of an eye or limb or the ability to talk to be total disability
- Principal (or face value): the amount “borrowed” by someone issuing a bond
- Principal sum: the amount to be paid, in one payment, on the insured person’s death or accidental dismemberment
- Probationary period: the time from the first day of illness or disability until a health insurance policy starts paying
- Prohibited list/risk: list of risks the insurance company doesn’t insure
- Pro rata cancellation: cancelling a policy and getting back the premiums paid for coverage of time that has not passed yet
- Pro rata clause: clause that gives the costs for changing or cancelling a policy
- Prorating: adjusting benefits paid because of a mistake or because other insurance covers the same thing
- Protection: coverage
- Provisional premium: temporary premium or one-time premium
- Proxy: someone acting for someone else
R
- Rate of return: the gain or loss you make as a percentage of the total amount invested
- Reformation of a policy: rewording of a policy
- Remoteness of damage: how indirect the cause of the damage is
- Renewal premium: new premium
- Restoration premium: premium to bring a policy back to its original worth (after a claim)
- Retroactive restoration: clause in a policy that automatically brings it back to its original value after a claim
- Return premium: refund
- Rider: addition to a policy
S
- Short rate cancellation: cancelling a policy before its end
- Stock company: a company that issues shares
- Straight life insurance: life insurance without any savings tied to it
- Surrender: to cancel a policy before its end, with both the person insured and the insurance company agreeing
- Surrender charge: fee the policyholder must pay if he or she cashes out the policy
T
- Tax-deferred: taxed later (for example, upon withdrawal)
- Term insurance benefit: gives the policyholder the ability to add term insurance to a permanent or universal life policy to protect someone for a temporary need
- Testate: having a will
- Testator: person making a will
- Trust: an account holding assets for a beneficiary
- Trustee: person managing a trust
U
- Underwrite: insure
- Underwriter: the insurance company
- Universal life insurance: combines permanent life insurance plus the ability to make investments that grow without tax within the policy
V
- Valuation: estimate of value
W
- Waiver: to abandon a right
- Waiver of premium: the policyholder does not have to pay the premiums
- Warranty: a statement in a contract that, if broken, usually entitles the other party to compensation
Topic: financial planning / health and wellness / retirement planning
Technorati tag: Canada / economics / economy / finance / financial planning / insurance / investing / markets / money / personal finance / retirement planning / stock market
via blogs.sunlife.ca
this is an interesting list of retirement terminology as far as the financial planning goes ... I wonder about use this article to juxtapose our alternative look at retirement ? what would be put on a list or terms/definitions to promote the idea of wellness and meaning in in retirement ?
we could shoot a short video discussion with reference to the article, our take and a link to the meaningful retirement guide
Retirement Wishes versus Reality: About Schmidt
Retirement Planning and Living: Coaching and ideas for an active retirement.
Retirement Planning and Living:
Financial Planning is only a part of the Story.
Retirement Talk Home Page
2011 Podcasts
227 Don't Waffle
Think before you act. Good advice? It takes time to think. Is that waffling? Procrastinating? Sometimes words appear to lead us a particular way that may or may not be very wise. Retirement gives us time to think a little more closely about what we are really doing with our lives. Retirement is a time to leave some things behind. We make a major change in our lives. Perhaps there are a few problems we can also leave behind. We may want to rethink what are our problems and what are someone else's. "Who am I? What am I? I don't even know who or what I am. What is retirement all about?" These questions are pretty common these days. Here is one possible answer. "Now I become myself" is the title of a poem and is a phrase that can easily be applied to the retired. Poetry has a way of reaching into the heart. Perhaps we now have time to listen. Retirement and heart attacks sometimes seem to go together. We just retire and then... Guest, Dennis McKinnon describes his experience of exuberant retirement, heart attack and road to recovery in this episode. There are lots of theories on what keeps us healthy. Here are some ideas you might like. Then again, you might not. When it comes to your own health you really do have a choice. There are lots of theories on what keeps us healthy. Here are some ideas you might like. Then again, you might not. When it comes to your own health you really do have a choice. Conversation is basic to being human. Ever notice how everyone wants to talk and no one seems to want to listen. Both are required elements of conversation. What has happened? We need to take care with what we do with it. What kind of retirement can we imagine. This seems to be a major factor in what we do with our retirement. It takes effort on our part. No parents, teachers or bosses are here to help - or hinder. Surprise can be a good thing in retirement. Sometime life can become just too slow, if not boring. We might want to to allow for a little serendipity into our later years. Retired people talk a lot about grandchildren. We hope to leave them more of an inheritance than global warming. How are we doing on that count? Where has reason gone? Guilt can be a terrible thing. Life lessons teach us to do something worthwhile; "Get up and get busy". What happens when we decide to sit down and relax? Is it so bad to live in the moment. And actually enjoy the little things in life? Feel guilty about retirement? Think you should be doing something worthwhile? Feeling patriotic? Here is a project that just might interest you. Looking for something to do in retirement? Here is something you can do right from your easy chair. You can take part in this podcast program. It's open to all. Do you have a story? Maintaining an exercise routine is necessary for good health. It isn't easy to do. Here is an example of bringing family members together who live thousands of miles apart into a daily exercise regime. Will we have enough money to live out our life? Retired people all have to deal with this question. Seeing into the future is impossible. But we can make the best guess at what we may need. Some factors are under our control. Will we have enough money to live out our life? Retired people all have to deal with this question. Seeing into the future is impossible. But we can make the best guess at what we may need. Some factors are under our control. Will we have enough money to live out our life? Retired people all have to deal with this question. Seeing into the future is impossible. But we can make the best guess at what we may need. Some factors are under our control.
We all want to lead an interesting life. Retirement gives us a chance to learn about anything we want. Community colleges are a place we may want to investigate.
Sponsored by Terra Ferma Designs: Fine Furniture, Stained Glass and woodworking workshops.
Copyright 2010 RetirementTalk.org
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Sleepy America: Are You Getting Enough Rest at Night? – TIME Healthland
An estimated 50 to 70 million American adults have a chronic sleep loss or a sleep disorder of some kind. Fully one-third just have bad sleeping habits, getting less than the recommended minimum of 7 hours of sleep per night, according to a new report from the Centers for Disease Control and Prevention (CDC). That may be old news to the perpetually sleep-deprived masses, but the consequences of sleeplessness are notable.
The National Sleep Foundation recommends that adults get between 7 and 9 hours of sleep each night. In the CDC's survey of 74,571 adults from 12 states, 35.3% slept less than that. (More on Time.com: Why Americans Are Among the Most Sleepless People in the World)
Not too long ago, the U.S. won the dubious distinction of being among the most sleepless nations in the world, and another recent study by AAA found that lack of sleep is putting the public at risk: 2 out of 5 surveyed U.S. drivers admitted to ever having fallen asleep at the wheel.
The CDC's data suggests a traffic safety issue as well: nearly 5% of surveyed adults reported nodding off or falling asleep while driving at least once in the past month. What's more, 38% said they had unintentionally fallen asleep during the day at least once.
Beyond the risks of daytime drowsiness, not getting enough sleep can affect your calorie consumption, mental health and even mortality: a study from Penn State University found that men who slept six hours or less per night were four times more likely to die from any cause over a 14-year follow-up than their counterparts who got at least 7 hours. (More on Time.com: Lack of Sleep Linked With Depression, Weight Gain and Even Death)
For those who are combating sleeplessness and chronic fatigue, a recent study of elderly adults found that counseling can help you overcome your insomnia. If that's not an option for you, the National Sleep Foundation provides tips on how to get more zzz's.
Study helps unlock key to long life - Healthzone.ca
Study helps unlock key to long life
March 8, 2011 LIVING REPORTER
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Who tends to live longer: The happy-go-lucky type or the plodding worrier? The slacker or the workaholic? The never-married female or the divorced male?
A study of 1,500 people over the course of eight decades found that some of our common notions about longevity are dead wrong.
The key factor leading to a long life? Not cheerfulness, not marriage. It’s conscientiousness.
“This is the first study to ever follow people over such a long time period and gather this type of data,” says research psychologist Leslie Martin, co-author of the new book The Longevity Project.
In 1921, Stanford University psychologist Lewis Terman began studying a sample of 1,500 bright boys and girls, most born around 1910, to discover what traits — social, psychological and physical — are sources of leadership. On his death in 1956, researchers continued collecting information about the now middle-aged participants.
Terman’s bright boys and girls grew up to lead diverse lives — as businesspeople, lawyers, engineers, housewives, clerks, policemen and technicians. A few gained some fame: Shelley Smith Mydans was a reporter for Life covering World War II in Asia, where she was captured and spent months in a prisoner-of-war camp; Jess Oppenheimer helped create the I Love Lucy show.
In 1990, psychologist Howard Friedman, co-author of The Longevity Project, began collecting data on the surviving participants, now elderly men and women, to analyze the lifespan factors they shared.
Martin, a psychology professor at La Sierra University in Riverside, Calif., spoke to the Star recently about the traits that promote a long life. Here is an edited version of the conversation:
So who lives the longest?
A number of factors predict a long life, but one of the most consistent findings is that people who are conscientious lived a long time. Another characteristic is social connectedness, particularly if it involved helping others. We also found that individuals who worked hard tended to live long lives. And we found that worry is not the risk that people think.
Conscientiousness is the top predictor. How so?
A conscientious person is responsible and organized and not very full of ego. They’re pragmatic and they think ahead. It makes sense that these qualities would be related to a long life. Because they think ahead, they are less likely to encounter as many stressors. They tended to wind up in more stable marriages. They gravitated to stable careers that they found fulfilling. All these dimensions are pathways that can lead to a long life. The highly conscientious were more likely to be moderate drinkers or abstainers and were less likely to smoke.
What if you weren’t conscientious as a child but became more so as an adult?
We divided the data into categories: stably conscientious, stably not so and those who switch, becoming more conscientious over time or becoming less so. The stably conscientious lived the longest and the always not conscientious fared the worst. Those who took steps to be more so in early adulthood improved their life expectancy and those who became less so had greater risk of a shorter life.
What finding surprised you the most?
The difference for men versus women who divorced and remarried. Divorce is harmful to anyone. But men who remarried diminished their risk quite a bit. For women, remarrying didn’t help. Many of them had similar outcomes to those who stayed single after divorce. For both men and women, being steadily single was almost as good as being steadily married.
What common beliefs about living a long happy life are wrong?
You commonly hear, “You’re working yourself to death. Take it easy.” That’s wrong. Those who worked the hardest tended to live the longest.
And contrary to what most people think, the most happy-go-lucky, cheerful people had the greater risk of dying earlier.
How do you explain that?
That was one of the most surprising and hardest to explain. We looked at other studies to reconcile our findings. If you are faced with a crisis, being cheerfully optimistic is a good thing, enabling you to engage the problem and recover. But as a life approach, where decisions are shaded by unrealistic optimism, it leads people to take more risks and make potentially problematic choices. In our study, the most cheerful kids grew up to smoke and drink more and have riskier hobbies.
The participants in your study were all smart and nearly all white and middle class. They were born and grew up long ago. How relevant are the findings to people today?
When we look at personality characteristics, the participants are not so different from people in a developed country today. These were all smart kids but they ran the gamut of educational and career success. Personality characteristics don’t vary according to IQ. It would have been great if the sample had more ethnic diversity, but we fortunately had almost half girls. Nobody looked at girls in the 1920s. When we look at other studies with a more diverse sample — none go back 80 years — we see our findings are confirmed.
Maybe the ones who lived longer just had better genes.
We didn’t have genetic data for our sample but because we have the full-spectrum of a life span, we are able to look at all these other factors. Certainly genetics plays a role but these other characteristics also play a very big role.
What about exercise? Do nerds live as long as jocks?
Yes, they do. People who were active early in life often feel they’ve built up a bank of activeness that will protect them. We found that’s not the case. Being active in mid-life and later was important regardless of what you did early on.
The other important thing, if you don’t like going to the gym or jogging, we recommend you don’t do it. These participants tended not to jog or have formal exercise regimens. We found that the people who stayed active were doing the things they liked, maybe playing tennis, gardening, skiing, woodworking, and they were more likely to be consistent.
You say that being sociable doesn’t necessarily help you live longer, but social connectedness does. That’s confusing.
Envision a social butterfly with lots of casual friends. A sociable person doesn’t necessarily have the kind of deeper, emotional connections that are protective.
After doing this research, how have you changed your life?
I’m a workaholic and it used to bother me that I wasn’t doing myself any favours. I would hear that from my parents. Now I don’t worry about it. I‘ve always valued my friends, but now I value them even more, recognizing how vital they are to my own well-being, not just my happiness but perhaps my life span.
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via healthzone.ca
Look on the bright side: Positivity linked to longevity - The Globe and Mail
There is “clear and compelling evidence” that happier people are healthier and live longer than their sad-sack counterparts, according to a review of more than 160 studies.
“I was almost shocked, and certainly surprised, to see the consistency of the data,” Ed Diener, the University of Illinois psychology professor emeritus who lead the review, told Reuters.
nia rhythmwood
via rhythmwood.ca
This is Wendy Roman's web site. Wendy is one of the associates of awellfuture.com. I do love Nia and go to Wendy's class whenever I can.
