Wells Fargo Cuts Its Dividend | THE STREET

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After the Fed’s stress tests on banks, buybacks are halted through at least the end of September, and common-stock dividends are capped at an average of the past four quarters’ earnings

Wells Fargo  announced it will cut its dividend, breaking rank with all of Wall Street’s other big banks, following the Federal Reserve’s move to set new restrictions on dividend payouts to shareholders.

The fourth-biggest U.S. bank by assets announced it plans to cut its dividend from the 51 cents it paid in each of the four most-recent quarters. The bank said it would announce its payout when it reports second-quarter earnings on July 14.

The move marks the first time since the financial crisis that a major U.S. bank has slashed its quarterly reward to shareholders, though it also comes as the Fed literally backstops banks and other lenders with almost free money to keep cash flowing through the economy amid the coronavirus pandemic and ensuing economic collapse.

Read more:  https://www.thestreet.com/investing/wells-fargo-wfc-dividend-cut-wall-street-banks

Three New Symptoms of Coronavirus Infection

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The Centers for Disease Control and Prevention (CDC) added three more symptoms to its official list of coronavirus symptoms. The following symptoms, according to the CDC, can be indicative of the novel coronavirus infection:

  • Congestion or runny nose,
  • Nausea or vomiting, and
  • Diarrhea

COVID-19 affects different people in different ways. Most infected people will develop mild to moderate illness and recover without hospitalization. The complete list of symptoms, according to the CDC.

Most common symptoms include:

  • Fever
  • Dry cough
  • Tiredness

Less common symptoms:

  • Aches and pains
  • Sore throat
  • Diarrhea
  • Conjunctivitis
  • Headache
  • Loss of taste or smell
  • Rash on skin, or discoloration of fingers or toes
  • Congestion or runny nose
  • Nausea or vomiting

Serious symptoms:

  • Difficulty breathing or shortness of breath
  • Chest pain or pressure
  • Loss of speech of movement

Seek immediate medical attention if you have serious symptoms. On average it takes 5–6 days from when someone is infected with the virus for symptoms to show, however it can take up to 14 days

Read more: https://apple.news/Awg8eB6MFTUKtV9Q388kS4Q

References:

  1. https://www.cdc.gov/coronavirus/2019-ncov/symptoms-testing/symptoms.html?CDC_AA_refVal=https%3A%2F%2Fwww.cdc.gov%2Fcoronavirus%2F2019-ncov%2Fabout%2Fsymptoms.html

NCL Norwegian Dawn in Harvest Caye, Belize

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Harvest Caye is Norwegian Cruise Line (NCL) Private Island nestled off the coast of Belize. The private island has amazing white sand beaches and a large pool.

Although the island of Harvest Caye is apparently exclusive to Norwegian Cruise Line, many first time NCL Cruise ship passengers were surprised to discover that ship board beverage packages and complimentary food privileges did not extend to the island. Instead, cruise ship passengers were required to pullout cash ($USD) and credit cards to purchase high priced, limited selection of food and a vast variety of overly priced cold beverages.

One casual observation, the poolside bar service on the island was glacially slow and inefficient. At the Harvest Caye Bar and Grille, there were four gents crowded behind the bar to fulfill drink orders of the thirsty horde. Yet, it took too long for the gents to complete each beverage transaction.

For whatever reason, it took this quartet of bartenders more than five minutes to fulfill each beverage transaction. How do I know…because I took the opportunity to time two of the bartenders’ transactions from the moment they took a guest’s order to the time that guest walked away with their ordered beverage in hand.

In my attempt to order a beverage, I waited in the relatively short queue more than fifteen minutes, before I decided to abandon my quest for a beverage from the bar. And, I was not the only making the decision to forego a beverage because of the bars‘s inefficiencies.

NCL is leaving quite a bit of money on the table due lack of customer service and bar service training provided to the four gents. From my observations, it should not take a bartender, if properly trained and managed, five to eight minutes to fulfill a simple drink order like pouring a beer or a making a margarita.

The island’s pool area was large and well laid out with ample number of chairs and umbrellas available, if there was only a single NCL cruise ship present. Unfortunately, multiple ships were concurrently visiting the island. And, as a result, I did have a challenge locating an available chair and umbrella combo that would provide shade and cover from the blistering heat of the this early March day.

Many of the poolside chairs were apparently reserved by cruise ships’ guests who left behind towels or other personal belongings to indicate there unavailability. This was truly a case of the early birds getting the worm. And in this case, the worm were the pool side and beach chairs and umbrellas.

Thankfully, the crystal clear aqua blue water surrounding the island was relatively mild temperature-wise. I did take advantage of the opportunity to wade shoulder deep into the surf to swim and view the ocean bottom. The experience floating with the Caribbean surf proved quite memorable and relaxing.

Overall, it was a pleasurable visit to Harvest Caye and I look forward to returning to picturesque Harvest Caye island in the near future.

Asset Allocation Strategy

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Asset allocation is designed to help an investor take short-term fluctuations more in stride.

When you divide your money among a variety of asset classes — stocks, bonds, real estate and cash — you can potentially smooth the ups and downs of financial markets. Diversifying your investments within the major asset classes and investment styles can help balance out a portfolio.

Asset allocation enables you to own a wide selection of investment types to potentially benefit when one asset class does well and limit the downside when another asset class does not. Once you create an asset allocation strategy as part of your comprehensive financial plan, it helps to keep a long-term perspective when the inevitable financial market volatility occurs.

It’s important to note that asset allocation and diversification do not ensure a profit or protect against loss. However, it makes sense to remember your long-term financial plan and asset allocation strategy, and stick with it, no matter how great short-term economic challenges may seem.

A long-term commitment to your asset allocation strategy doesn’t mean you shouldn’t take action during periods of uncertainty. The key is taking the right action. You may discover the original percentages you allocated to different asset classes and types of investments are not in sync with your strategy due to shifts in the market.

Your portfolio may be overly concentrated or under-represented in one area. If so, you can reallocate your assets and ensure your long-term asset allocation strategy is back on track.

Of course during times of market volatility and economic uncertainty, many investors are tempted to move out of stock investments, into the safety of cash positions. Yes, cash is an asset for investors, but understand that you earn nothing with this asset class…no return from cash.

As a result, investors tend to stay on the sidelines until financial turbulence settles, but this may be a costly mistake. One thing previous recessions and bear markets have taught us is that life goes on. In each of the most recent five bear markets since 1987, sell-offs and correction were ultimately followed by economic and market recoveries.

Thus, once stock markets unexpectedly rebound, as they typically have done in the past, you may end up getting left behind during what could have been a good opportunity to benefit from market rapid recovery and gains.

We live in a world fraught with headline risk and conflict, something that will be ever-present. This fact will always be an integral part of the investment landscape. Those who exit or try to “time the market” tend to miss a significant rally. Those who remained invested or rebalanced towards equities tended to boost their returns during a market rally.

The length of time an investor is in the market can make a difference in the amount they will save and invest to potentially grow their investments. If you sell assets while the market is declining, you risk missing upward trends that have historically followed. If you want to retire someday, start saving and investing now. It takes decades of long-term financial planning, saving and investing to get there. 

Always remember…

Learning to manage money. You need to learn and understand core principles of financial planning — long-term investing, risk management, diversification, asset allocation, retirement, estate and tax planning.

Asset allocation and diversification do not ensure a profit or protect against loss in declining markets.

All investments involve risk including loss of principal. Certain investments involve greater or unique risks that should be considered along with the objectives, fees, and expenses before investing.

References:

  1. https://im.bnymellon.com/us/en/individual/articles/letter-from-the-lion/spring-2020/stick-with-a-plan-in-uncertain-financial-markets.jsp

Healthy Weight and Heart Habits

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Healthy Heart for Life…even little steps may make a big difference.

To improve your heart health, you do not have to make big changes to have an effect on your heart health. Even small, basic healthy heart habits can have significant effects.

One of the biggest ways to reduce heart disease risk happens when you go from living a sedentary lifestyle to being active for as little as one hour a week. As you age, your body slows down in burning calories (metabolism). If you decrease activities as you age, but continue to eat the same as usual, you’ll gain weight. To maintain a healthy weight and heart, stay active and eat healthy.

To maintain a healthy weight and heart:

  • Include 30 minutes of physical activity in your daily routine. Regular moderate physical activity can help you maintain a healthy weight and heart.
  • Eat a healthy diet. Choose vegetables, fruits, whole grains, high-fiber foods and lean sources of protein, such as fish.
  • Limit sugar, refined carbohydrates, processed and fried foods, alcohol and foods high in sodium and saturated fat.
  • Watch your portion sizes. To cut calories, keep an eye on your portion sizes.

Walking

Walking is a great way to exercise and is suitable for people of all ages and fitness levels. And, it can be done almost anywhere.

The American Heart Association encourages Americans to do regular physical activity as it’s an important part of improving your heart health. Walking regularly is a great option and has many health benefits beyond your heart.  

Walking has been proven to: 

  • Help manage weight, blood pressure and cholesterol 
  • Reduce your risk of developing some cancers 
  • Maintain your bone density, reducing your risk of osteoporosis and fractures 
  • Improve balance and coordination, reducing your risk of falls and injuries. 

Top tips for walking 

  • Start slowly and don’t push yourself too hard. Start with walking 5-10 minutes a day and build up slowly to 30 minutes over several weeks.  
  • Begin with easy walking on ground that is flat. Walk at a comfortable pace. You should be able to talk without feeling short of breath. If you don’t feel well enough to walk one day, let your body rest. It is ok to miss walking that day.  
  • Begin with a goal, such as walking to the local shop or around the block. As you start to feel better and fitter, increase the intensity so you start to ‘puff’ a little.
  • Remember to warm up and cool down for the first and last 5 minutes of your session.
  • Warming up is important to stop you from getting injured. Cooling down reduces your heart rate slowly.  

HIIT, or high-intensity interval training, is a training technique in which you give all-out, one hundred percent effort through quick, intense bursts of exercise, followed by short, sometimes active, recovery periods. This type of training gets and keeps your heart rate up and burns more fat in less time.

“A high-intensity workout increases the body’s need for oxygen during the effort and creates an oxygen shortage, causing your body to ask for more oxygen during recovery,” says Eric Salvador, NASM, NSCA, head instructor at The Fhitting Room in New York City.  “This afterburn effect is referred to as excess post-exercise oxygen consumption (EPOC) and is the reason why intense exercise will help burn more fat and calories than regular aerobic and steady-state workouts.”

Lifting weights and resistance training

Lifting weights and resistance training improves your muscle mass and strength. Always speak to your doctor before starting any muscle strengthening exercises.

  • You can improve your strength at home by lifting light weights.
  • You can also lift your body weight by doing exercises such as lunges, squats or pushups.
  • Start slowly and build up gradually.  
  • Start with 10 repetitions of a light weight that you can lift easily. You can increase this gradually over time until you reach 20 repetitions.  

You should breathe normally when lifting weights or doing other lifting activities. Never hold your breath when you’re lifting weights, even light ones. The strain of lifting weights can raise your blood pressure. 

Mayo Clinic has developed a Healthy Heart Plan based on “Eat 5, Move 10, Sleep 8”. Here’s a summary of the Mayo Clinic’s Healthy Heart Plan’s:

  • Eat 5. Eat five servings of fruits and vegetables a day to boost your heart health. Make a conscious effort to include fruits and vegetables in your daily meals. Focus on getting five or more servings of fruits and vegetables a day.
  • Move 10. Add at least 10 minutes of moderately intense physical activity to what you do every day. Although it is recommended to include physical activity for 30 minutes or more a day, 10 minutes of exercise daily makes a difference.
    For example, studies have found just 60 to 90 minutes a week of physical activity can reduce your heart disease risk by up to 50 percent. That’s a big benefit from a pretty small commitment. It doesn’t have to be elaborate — take the stairs, take a walk, just get moving. As you become more active, you can increase your total amount of activity each day.
  • Sleep 8. Quality sleep is good for your heart. It can be a challenge to make time for good sleep, but it’s important. Try to get eight hours of good, quality sleep each night. Each person’s sleep needs vary slightly, but eight is a good number to shoot for.

It is essential to get started with healthy heart habits and keep at it.

References:

  1. https://www.mayoclinic.org/healthy-lifestyle/healthy-aging/in-depth/aging/art-20046070
  2. https://www.mayoclinic.org/diseases-conditions/heart-disease/expert-answers/healthy-heart/faq-20057842
  3. https://dailyburn.com/life/fitness/high-intensity-hiit-workout/#:~:text=HIIT%2C%20or%20high-intensity%20interval%20training%2C%20is%20a%20training,up%20and%20burns%20more%20fat%20in%20less%20time.

Healthy Heart for Life

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Improve your heart health

Heart disease kills more Americans than all cancers combined. It is the number one killer of both men and women. Fortunately, advances in medicine and self-care give individuals far more control over your heart health than ever.

Experts say that eighty percent of heart disease is preventable. You can start making small changes that will improve your heart health.

Improving your heart health and reducing your risk of heart disease is essential for living a vigorous and happy retirement as we age.

To promote heart health:

  • Include physical activity in your daily routine. Try walking, swimming or other activities you enjoy. Regular moderate physical activity can help you maintain a healthy weight and lower your heart disease risk.
  • Eat a healthy diet. Choose vegetables, fruits, whole grains, high-fiber foods and lean sources of protein, such as fish. Limit foods high in saturated fat and salt.
  • Don’t smoke. Smoking contributes to the hardening of your arteries and increases your blood pressure and heart rate. If you smoke or use other tobacco products, ask your doctor to help you quit.
  • Manage stress. Stress can take a toll on your heart. Take steps to reduce stress, such as meditation, exercise or talk therapy.
  • Get enough sleep. Quality sleep plays an important role in the healing and repair of your heart and blood vessels. Aim for seven to nine hours a night.

You can enjoy a healthy heart at any age and the extraordinary lifestyle that can accompanied it by knowing and managing your healthy heart related numbers like blood pressure, total cholesterol, A1C and body mass index.

References:

  1. https://www.mayoclinic.org/healthy-lifestyle/healthy-aging/in-depth/aging/art-20046070

Hindsight Bias: Don’t abandon your financial plan | Vanguard

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In times like these, it makes sense to start with a plan, stay committed, stay aware and stick with a plan.

Hindsight bias exists prominently in investing.

No matter the market conditions, there are always sensational reports from the financial entertainment media or the investing community that a market event, such as an extreme market correction or increase, was foreseen, perhaps even obvious. If you begin to believe you’ve missed opportunities or you’re at risk for losses, you might attempt to overcorrect by trying to time the markets or weighting your portfolio too heavily in one area.

Hindsight bias is unavoidable behavior, but don’t let it derail you. You’ve followed your financial plan and made good investing decisions in the past. Trust those decisions and trust the financial plan you’ve put in place.

And remember your financial plan the next time hindsight says you’re wrong.

Read more: https://investornews.vanguard/hindsight-bias-says-to-abandon-your-plan-heres-why-you-shouldnt/

Heart Disease Leading Cause of Death in the United States

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“Do Your Part, Care for Your Heart”

There is a silent and deadly pandemic raging in America every year. That pandemic kills on average more than fifty thousand Americans each month. That silent pandemic is called Heart Disease.

Heart disease is the leading cause of death in the United States. More than 610,000 Americans die of heart disease each year according to the Centers for Disease Control and Prevention (CDC). That’s one in every four deaths in this country.

Almost 70 percent of Americans are afraid of dying of cardiovascular heart disease. Despite this, only 38 percent know or monitor their blood pressure, and just 18 percent know their body mass index (BMI), both of which are essential factors in overall heart health. So, it’s clear that more Americans need to know their numbers and keep their blood pressure, cholesterol and blood sugar at normal levels. They need to learn more about heart health and how they can manage their risks.

The term “heart disease” refers to several types of cardiovasculaheart conditions. The most common type is coronary artery disease, which can cause heart attack. Other kinds of heart disease may involve the valves in the heart, or the heart may not pump well and cause heart failure. Some people are born with heart disease.

Americans at Risk for Heart Disease

Heart disease occurs when a substance called plaque builds up in your arteries. As plaque builds up in the arteries of a person with heart disease, the inside of the arteries begins to narrow, which lessens or blocks the flow of blood to the heart. Plaque can also rupture (break open). When it does, a blood clot can form on the plaque, blocking the flow of blood.

Smoking, eating an unhealthy diet, and not getting enough exercise all increase your risk for having heart disease. High blood pressure, high blood cholesterol, diabetes, and smoking are key risk factors for heart disease. About half of Americans (47%) have at least one of these three risk factors.

Several other medical conditions and lifestyle choices can also put people at a higher risk for heart disease, including:

  • Diabetes
  • Overweight and obesity
  • Unhealthy diet
  • Physical inactivity
  • Excessive alcohol use

Heart disease is the leading cause of death for people of most racial and ethnic groups in the United States, including African American, American Indian, Alaska Native, Hispanic, and white men.

A healthy heart comes from lots of little lifestyle changes that become a habit. And, heart-healthy lifestyle changes can help lower your risk for complications. A heart-healthy lifestyle is all about listening to your heart and giving it what it needs to thrive (even if that means ignoring your stomach’s request for a second donut). A healthy heart is a reward that’s well worth some minor lifestyle changes.

Your doctor also may prescribe medication to treat the disease. Talk with your doctor about the best ways to reduce your heart disease risk.

Think fitness.

Spending time in natural environments can benefit health and well-being.

There’s plenty of science establishing the health benefits of exercise, particularly outdoors. A 2019 Scientific Reports study of nearly 20,000 Britons showed people who spent at least two hours per week in nature were far more likely to report good health and well-being than those who didn’t.

Think healthy eating.

The slogan…”healthy eating for a strong heart beating” is one to live by. You can lower your risk of heart disease by making several small changes at each meal and by choosing foods that are good for your heart. Eating a healthy diet of whole grains, high fiber and lean sources of protein, and exercising at least 30 minutes daily can help control or delay age-related health problems associated with aging, like high blood pressure, obesity, heart disease and diabetes.

Most standard American diets are based on foods you shouldn’t eat. Instead, Americans should focus on foods that are good for your heart. They should eat more vegetables, fruits, and whole grains. The fiber in these foods helps lower “bad” LDL cholesterol. They should eat more beans, legumes (like lentils), seeds, and nuts. Additionally, Americans should:

  • Put healthier fats to work for you.
  • Favor unsaturated fats, such as canola, olive, and peanut oils.
  • Eat fish that are high in omega-3 fatty acids, including albacore tuna, salmon, and sardines. Omega-3s seem to lower triglycerides, fight plaque in your arteries, lower blood pressure, and reduce your risk of abnormal heart rhythms.
  • Eat lean protein.
  • Make beans, nuts, fish, and chicken your mainstays, and keep portions in check.
  • The American Heart Association suggests you eat at least two 3.5-ounce servings of fish a week.

Think canine companionship.

Dog ownership is associated with decreased cardiovascular risk and with lower risk of death over the long term.

Many studies have linked dog ownership to health benefits, including more exercise, lower blood pressure, improved lipid profile, and reduced stress. A meta-analysis published in the American Heart Association journal Circulation in 2019 examined 10 studies over seven decades involving nearly 4 million people. It concluded dog owners had a 24% lower risk of death from any cause than their petless peers during the course of the studies.

Be heart smart.

Make smart choices and improve your heart health. It’s about individuals taking care of their own hearts every day. Everyone can benefit by following heart-healthy practices:

  1. Exercise regularly (at least 2.5 hours per week).
  2. Quit smoking.
  3. Lose weight.
  4. Know your BMI, blood pressure and A1C.
  5. Eat heart-friendly foods.
  6. Eat chocolate and drink wine (in moderation).
  7. Don’t overeat.
  8. Learn to manage stress.

The fight for heart health awareness truly is just that: a fight. Heart disease is a formidable foe that’s responsible for almost 25 percent of all deaths in the U.S., more than any other cause of death.

Our health-care system would not be so overwhelmed by COVID-19 right now if it was not already overwhelmed with preventable chronic illnesses. About 75 percent of the $2.2 trillion we spend on health care each year goes to treat chronic illness like heart disease, the Centers for Disease Control estimates. And, it is estimated that 40 to 70 percent of those illnesses could be prevented.

In 2018 the United States shelled out $329 billion to treat heart disease and strokes, the American Heart Association calculated. About 80 percent of those cases — $263 billion worth — were caused by poor diet, lack of exercise, alcohol use and obesity.

References:

  1. https://www.cdc.gov/heartdisease/facts.htm?CDC_AA_refVal=https%3A%2F%2Fwww.cdc.gov%2Fdhdsp%2Fdata_statistics%2Ffact_sheets%2Ffs_heart_disease.htm
  2. https://www.cdc.gov/heartdisease/docs/ConsumerEd_HeartDisease.pdf
  3. https://www.heart.org/en/news/2020/06/10/instead-of-a-tie-think-about-healthy-gifts-and-gratitude-for-fathers-day
  4. https://www.ahajournals.org/doi/epub/10.1161/CIRCOUTCOMES.119.005554

Healthy Habits of Diet and Exercise

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Good Choices Today for a Healthier Retirement Tomorrow

Lifestyle choices you make today can lead to a healthier future and retirement. Eating a healthy diet of whole grains, high fiber and lean sources of protein, and exercising at least 30 minutes daily can help control or delay age-related health problems associated with aging, like high blood pressure, obesity, heart disease and diabetes.

It is important to develop habits of healthy eating and regular exercising; and, it is important also to set short- and long-term goals to achieve and maintain a healthy diet and exercise routine.

Make these five tips a habit and priority every day:

  • Try to be physically active for at least 30 minutes on most or all days of the week.
  • Eat plenty of fruits and vegetables.
  • Choose foods that are low in added sugars, saturated fats, and sodium. Avoid or restrict foods that are fried, processed and consist of refined carbohydrates.
  • Pick whole grains and lean sources of protein and dairy products.
  • Practice all five types of exercise—aerobic, endurance, strength, balance, and flexibility.

Pledge to Action

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Recently, four Black Alumni from the U.S. Naval Academy’s Class of 1988 penned a short, yet strong message and call to action ‘Pledge’. The Pledge was written for and shared with their approximately one thousand classmates.

They asked their classmates “to read carefully and consider acknowledging publicly” the intent and and message of the Pledge.

I offer their message to my blog readers to do likewise, to read carefully and consider acknowledging.

Pledge:

“Recent reprehensive comments of a fellow Naval Academy alumnus, along with the worldwide call to address racial inequality and police brutality have deeply impacted many of us in ’88.”

“We have drafted a Pledge that we ask each of you to read carefully and consider acknowledging publicly.”

“This Pledge is not only about race, but about openly discussing and understanding all our differences as people and offering a deeper level of support for each other in a way that many of us have already come to embrace in our lives.”

“It is about conversation, engagement, and using our influence to help us be even stronger as a class and better friends.”

I will take these 3 steps:

1. Listen to my peers.

  • I will interact intentionally with shipmates and have real conversations about our respective life experiences.
  • My commitment is not only to hear but also to try to understand. I pledge to listen to my Class of 1988 brothers and sisters.

2. Lead by example.

  • I will engage to address any displays of injustice and any statements of untruths.
  • If I am in an environment among friends or peers and something insensitive, derogatory, or untrue is proffered, I will reject it and encourage others to do the same.
  • I will lead by example. Silence is no longer an option.
  • What I can do, I will do.

3. Leverage my network.

  • I will use my sphere of influence, an important extension of me, to the benefit of my classmates and the U.S. Naval Academy.

It is critical that we all affirm our commitment to fairness and integrity, and that we carry out our message to the broadest audience possible.

One of their Naval Academy classmate wrote an article that appeared on the website www.medium.com where she pledged to do the following:

“I recognize that we are men and women of action, and only through our actions can we effect a change.” She wrote. “Because it is not enough to only recognize and speak against the mistreatment of our brothers and sisters who served alongside me, I commit to you that I will also engage on your behalf.”

“What I can do, I will do. I commit to each of you to serve alongside you.”

References:

  1. https://medium.com/@leelauras/annapolis-grads-write-powerful-pledge-9976017cc1f9
  2. https://www.news4jax.com/news/local/2020/06/06/jacksonville-area-naval-academy-alumni-member-resigns-apologizes-after-racial-comments-aired-on-facebook-live/