Use Easy Frames of Reference - Small Steps to Health and Wealth


Uploaded by ARextension on 31.01.2013

Transcript:
Research-based recommendations from health and financial experts can seem complex.
For example, adults who are saving for retirement should estimate future retirement needs,
remembering to add 3.5 to 4% per year for inflation and plan current savings, remembering
to add anticipated interest earned, to make sure that you will have enough future
income to provide the retirement lifestyle you want.
These calculations will take time and involve some math skills and perhaps an online calculator.
These calculations are good but not necessary for you to start saving for retirement.
Some consumers can get tripped up on the details of trying to follow complex research-based
recommendations. You're more likely to stick with expert recommendations
when you have an easy frame of reference. Here are some easy, practical ideas for health
and wealth: Recommended portion sizes are often given
in ounces and cups. To follow them exactly, you would have to weigh or measure everything
you eat. Instead, try these easy frames of reference:
3 oz. of meat = 1 deck of cards
1 tsp. butter = 1 postage stamp (1/4 inch thick)
2 tbsp. peanut butter = 1/2 golf ball
1 medium piece of fruit = 1 tennis ball
1 cup salad = 1 baseball
Here are a few easy frames of reference for financial management:
If you have an employer sponsored retirement plan, save at least the amount that your employer
will match.
Buy a house that costs no more than 2 1/2 times your annual income.
Each time you get a pay increase or bonus, save half.
Purchase life insurance equal to 6 to 10 times your annual income.
Make life a little easier on yourself. Use easy frames of reference to achieve your health
and wealth goals.