Shopping for Food During the COVID-19 Pandemic

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There is no evidence of food packaging being associated with transmission of the coronavirus

To help protect yourself and other shoppers, it is important to keep a few things in mind:

  1. Wear a face covering or mask while you are in the store.
  1. Carry your own wipes, or use one provided by the store to wipe down the handles of the shopping cart or basket. If you use reusable shopping bags, ensure they are cleaned or washed before each use.
  2. Practice social distancing while shopping – keeping at least 6 feet between you, other shoppers, and store employees. Keep your hands away from your face.
  3. Wash your hands with warm water and soap for at least 20 seconds when you return home and again after you put away your groceries.
  4. Again, there is no evidence of food packaging being associated with the transmission of COVID-19. However, if you wish, you can wipe down product packaging and allow it to air dry, as an extra precaution.

Always keep in mind the basic 4 food safety steps — Clean, Separate, Cook, and Chill.

Read more: https://www.fda.gov/food/food-safety-during-emergencies/shopping-food-during-covid-19-pandemic-information-consumers

References:

Berkshire Hathaway sells Airline Position

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“In 2008 and ’09, our economic train went off the tracks. This time, we just pulled the train off the tracks and put it on a siding.” Warren Buffett

During their annual shareholders meeting, Berkshire Hathaway Chairman and CEO Warren Buffett explains to shareholders and to the financial markets why the conglomerate sold its entire stake in four U.S. airlines.

During the virtual shareholders meeting, Buffett commented that although he believes that they are “well managed”, “The world has changed for the airlines”, to explain why Berkshire sold its stakes in the “big four” U.S. airline carriers in April.

“Fear is the most contagious disease you can imagine. It makes the virus look like a piker.” Warren Buffett

Airlines are receiving government aid to remain operational amid declines of more than 90% in domestic and international air travel.

References:

  1. https://markets.businessinsider.com/news/stocks/warren-buffett-25-best-quotes-berkshire-hathaway-annual-meeting-2020-5-1029160195

Physical Activity

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Physical activity is associated with better immune function

There is significant health benefits that can be derived from regular physical activity on our heart, muscles, and even brain function.

Regular physical activity can help reduce feelings of stress, anxiety and depression. There is ample evidence that regular physical activity is also associated with a better immune function.

Importantly, these benefits are achievable for everyone regardless of current health status, underlying conditions, gender or age. And, those who are least healthy (and, consequently, at greatest risk for severe COVID-19 responses) have the most to gain from maintaining an active lifestyle.

Physical Activity Guidelines

Physical Activity Guidelines for Americans suggest all physical activity is beneficial regardless of intensity.

The Physical Activity Guidelines suggest Americans engage in 150 minutes of moderate intensity activity each week or 75 minutes of vigorous intensity each week.

Individuals are encouraged to limit their sitting time as much as possible. But, it is important to listen to your body. If you feel pain or stiffness from too much sitting and inactivity, get up and move around. Even walking breaks of 2 minutes are associated with benefits (reduced pain, improved alertness).  Limiting prolonged sitting to less than 60 minutes would be a good rule of thumb.

Certainly those who can safely engage in moderate to vigorous intensity activity should do so. But if light physical activity is all you are able to achieve, there are health benefits that come from this. Essentially, some physical activity is good; more physical activity is better.

References:

  1. https://btn.com/2020/04/13/iowa-professor-espouses-the-benefits-of-exercise-btn-livebig/

Making Zoom Meetings Meaningful

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First moments matter anytime we come together, especially virtually.

Instead of asking everyone ‘how they’re doing”, instead ask a question that taps quickly into something that’s meaningful to people and conveys “I am genuinely interested, and I genuinely care.”

Favorite questions — suggest asking something like:

  • “What did you do this week that you loved?”
  • “Tell me a highlight of your day” or
  • “What’s gone well for you today?”
  • Positive emotion opens up more possibilities for exploring some of the negative or the vulnerable pieces later on.
  • One example of this in a Zoom meeting started with having people go around the table and tell one story of a silver lining that happened this week. It was a wonderful invitation to share in a group where the people didn’t know each other.
  • Talking about silver linings acknowledges that something negative has happened, but it also touches on the positive that you’ve made of it or that you’ve understood something positive coming out of it.
    1. https://ideas-ted-com.cdn.ampproject.org/c/s/ideas.ted.com/the-secret-to-making-zoom-meetings-meaningful-for-you-and-your-coworkers/amp/

    Don’t Panic

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    Here’s the most important piece of advice for long-term investors: Don’t panic.

    Both the current pandemic driven economic environment and equity market environment are incredibly uncertain. Likewise, the future is equally uncertain and unpredictable.

    Unprecedented unemployment, declining oil prices, liquidity concerns in financial markets, and expanding federal debt represent a clear and present risk to future U.S. economic prosperity.

    Moreover, the current uncertainty has had a negative impact on global economies and equity markets. The impact has created fear and caused investors to panic sell their positions and seek safe havens by moving into less riskier assets.

    Yet, it is important to understand that market corrections happen on a regular basis. A stock market correction is a sudden drop in the value of stocks, usually by more than 10% from their most recent high.

    Bottomline, it’s going to be okay. This too shall pass. Investors are advised to ‘stay the course’, follow your financial plan and focus on your long-term goals.

    Race for a COVID-19 Vaccine | By Bill Gates

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    The Insider Edition
    April 30, 2020

    Humankind has never had a more urgent task than creating broad immunity for coronavirus.

    Realistically, if we’re going to return to normal, we need to develop a safe, effective vaccine—and we need to do it faster than we’ve ever developed a vaccine before. Creating a new vaccine usually takes a minimum of five years. But Bill Gates remains optimistic that we can safely condense that process into 18 months or even less.

    How exactly are we going to do that? According to Bill Gates, the process is complicated but fascinating.

    Bill Gates wrote an in-depth explainer that will hopefully answer some questions.

    Read more about the race for a COVID-19 vaccine on Bill Gates’ blog:

    https://www.gatesnotes.com/Health/What-you-need-to-know-about-the-COVID-19-vaccine?WT.mc_id=20200430100000_COVID-19-vaccine_BG-EM_&WT.tsrc=BGEM

    There are dozens of candidates in the pipeline.

    As of April 9, there are 115 different COVID-19 vaccine candidates in the development pipeline. Bill Gates thinks that eight to ten of those look particularly promising.

    Remdesivir Potential Coronavirus Treatment

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    Gilead’s remdesivir drug a potential coronavirus treatment.

    Gilead Sciences reported positive results from two studies that showed its therapy remdesivir could be a viable treatment to combat Covid-19.

    Remdesivir

    The separate studies’ results of its therapy remdesivir led to symptom improvement in patients with severe cases of the coronavirus. Gilead said the study of 200 patients showed that symptom remedy can be achieved in some with a 5-day regimen.

    “These study results complement data from the placebo-controlled study of remdesivir conducted by the National Institute for Allergy and Infectious Diseases and help to determine the optimal duration of treatment with remdesivir,” Merdad Parsey, Gilead’s chief medical officer, said in a statement. “The study demonstrates the potential for some patients to be treated with a 5-day regimen, which could significantly expand the number of patients who could be treated with our current supply of remdesivir.” 

    Former FDA Commissioner Dr. Scott Gottlieb said on CNBC that announcements from Gilead about trials of remdesivir against the coronavirus “would not be a “home run” or a cure, but that it could possibly be used in earlier stages of the infection to avoid worse outcomes, similar to how Tamiflu is used against the seasonal flu”.

    “We use it in the emergency room when people come in with the flu and we have it right away for people who might be at risk for the worst outcome,” Gottlieb said. “I think remdesivir could be used in a similar fashion. And so far all the data that we’ve seen accrue does suggest that there’s a treatment effect here.”

    Earlier this month,  the University of Chicago found that patients with Covid-19 had “rapid recoveries in fever and respiratory symptoms” and were discharged in less than a week, according to STAT News.

    However, a draft document accidentally published by the World Health Organization (WHO), said the drug did not improve Covid-19 patients’ conditions or reduce the virus’ presence in the bloodstream in a clinical trial in China. WHO has been seen increasingly as a mouthpiece for Chinese Communist Party propaganda and the world should question the validity of “the accidental release”.

    References:

    1. Stock market live updates: Stocks soar on Gilead treatment, Dow up 500 from CNBC.com
    2. https://www.cnbc.com/2020/04/29/gilead-reports-positive-data-on-remdesivir-coronavirus-drug-trial.html
    3. https://www.heritage.org/global-politics/commentary/the-world-health-organization-bows-china

    Social Security Age: Claim at 62 or Wait until 70

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    “The age you claim Social Security affects your lifetime income.”

    Social Security Administration (SSA) payments are based on a calculation of a 35-year average of your lifetime earnings. Each year’s wages are adjusted for inflation before being averaged. If you worked longer than 35 years, the highest 35 years will be used. If you worked fewer than 35 years, SSA will average in zeros for the missing years.

    When to collect benefits

    According to the Center for Retirement Research at Boston College, 48% of women and 42% of men who claimed Social Security retirement benefits in 2013 did so as soon as they were eligible at age 62.

    Yet, according to many financial advisers, baby boomers would be better off waiting until their seventieth (70th) birthday to start claiming Social Security, than if they take benefits in their 60s.

    The logic behind this advice is driven by the 8% government-guaranteed increase in lifetime payments for each year baby boomers delay benefits past age 62, up to age 70.

    But, baby boomers need to ask themselves what is the likelihood they will live long enough to benefit from the increased payments that start later in life at seventy years old versus collecting benefits at sixty-two years old.

    When you decide to delay starting Social Security benefits, you’re betting that you will out-live an actuarially based mortality estimate.

    Discount Rate Specification and the Social Security Claiming Decision from the Social Security Administration (SSA) study evaluates Social Security benefits not only as a function of the age of death, but also the probability of reaching that age. It provides that analysis over a range of discount rates.

    A general conclusion of the study is that you shouldn’t wait to reach the age of 70 to initiate your Social Security benefits.

    Social Security Benefit Breakeven

    Before you start drawing on Social Security at age 62, it is recommended that you determine if it maximizes your total payments by calculating the breakeven. Additionally, it’s important that you balance the timing of those benefits with the rest of your retirement income plans. This choice of starting benefits isn’t reversible after 12 months.

    Social Security breakeven age occurs when the total value of higher benefits (from postponing retirement) starts to exceed the total value of lower benefits (from choosing early retirement).

    • Example: If you are eligible to collect a reduced $900 benefit at age 62 plus 1 month, and your benefit would increase to $1,251 at age 65 and 10 months, your estimated break-even age is 75 years and 5 months.

    https://youtu.be/9e3M3kM9LFk

    Early Benefits

    Collecting early benefits may pay off despite the reduced monthly check. Since it is impossible to predict how long a baby boomer will live. If you’re facing a potentially significant reduction in life expectancy and are short of income, taking Social Security early may be appropriate.

    Just be aware that you will receive a reduced benefit. If your full retirement age is 67 and you begin collecting Social Security at age 62, for example, your benefits are reduced by about 30 percent.

    The rational advisors often hear from baby boomers who want to apply for Social Security early benefits at age 62 is that you’ve paid into the system for decades, and want to get something out of it before it goes bankrupt. It might feel like the best decision at the time, but down the road, it may prove the worst decision you ever made in your life.

    The legitimate fear for planning purposes is not that you might die early and miss out on some money you could have had from social security, but rather that you will outlive your money.   Think about waiting to collect Social Security as a form of longevity insurance—for you for sure, but also for your surviving spouse if you are the higher earner.  In fact, a higher Social Security benefit is the best deal on longevity insurance you can get.

    Benefits reduced if you’re work while receiving benefits

    Working after you start receiving retirement benefits may affect your monthly benefit amount, depending on your age and how much you earn. If you are younger than your full retirement age, and your earnings exceed certain dollar amounts, some of your monthly benefit may be withheld.

    Social Security will increase your monthly benefit after you reach full retirement age to account for the months of withheld benefits. When you reach your full retirement age, you can work and earn as much as you want and your benefit will not be affected.

    Full Retirement Age

    Optimum strategy for most baby boomers may or may not be to postpone Social Security benefits at least until you reach full retirement age, which is determined by the Social Security Administration.

    Your full retirement age (FRA) is determined by the year you were born. The retirement age used to be 65 for everyone, but is gradually increasing to 67. As the full retirement age goes up, benefits claimed at earlier ages go down.

    FRA is 67 for those born in 1960 or later. If you were born in 1937 or earlier, your full retirement age is 65. The FRA rises two months every year after that until it caps out at age 67.

    However, collecting Social Security early will cost you. If your full retirement age is 67, your Social Security benefit is reduced by:

    • About 30 percent if you start collecting at 62.
    • About 25 percent if you start collecting at 63.
    • About 20 percent if you start collecting at 64.
    • About 13.3 percent if you start collecting at 65.
    • About 6.7 percent if you start collecting at 66.

    If you expect to live beyond the breakeven age, it would be financially worth your while to delay drawing benefits. Yet, there’s not an age that’s appropriate for everyone. Baby boomers must consider their own financial need, health and post-retirement plans before deciding when to begin social security benefits.

    There are many ways to collect Social Security benefits. You can collect benefits starting at age 62 or anytime up until you’re 70. Collecting early benefits at age 62 means smaller monthly payouts than waiting until full retirement age or waiting until seventy (70). It’s generally advisable to wait until full retirement age to start collecting Social Security benefits because the monthly benefit is higher than starting early benefits at age 62.

    References:

    1. https://crr.bc.edu
    2. https://www.thestreet.com/retirement/social-security-claim-now-or-wait
    3. https://www.bankrate.com/retirement/when-to-take-social-security/
    4. https://www.forbes.com/sites/jlange/2018/10/01/what-is-the-best-age-to-apply-for-social-security/#97e7e9a56d2b
    5. https://www.ssa.gov/benefits/retirement/

    Coronavirus Relief Often Pays Workers More Than Work | Wall Street Journal

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    When combined with state benefits, weekly government payouts create incentives that employers say complicate efforts to reopen businesses

    Roughly half of all U.S. workers stand to earn more in unemployment benefits than they did at their jobs before the coronavirus pandemic shut down wide swaths of the U.S. economy, and employers say the government relief is complicating plans to reopen businesses.

    The package of coronavirus stimulus laws Congress passed and President Trump signed in March included a $600 boost to weekly unemployment benefits through July 31. As that support is added to state benefits over the coming weeks, the average weekly payment to a laid-off worker should rise to about $978 from the $377.97 the Labor Department said was paid on average late last year.

    Qualified workers will receive the government payout every week through July, and in most cases, the combined $978 weekly payout amounts to better pay than what many workers received before the crisis hit. Labor Department statistics show half of full-time workers earned $957 or less a week in the first quarter of 2020.

    Read more: https://www.wsj.com/articles/coronavirus-relief-often-pays-workers-more-than-work-11588066200

    Additional information:

    1. https://www.usa.gov/unemployment#item-214601
    2. https://www.wsj.com/articles/the-secret-group-of-scientists-and-billionaires-pushing-trump-on-a-covid-19-plan-11587998993?mod=trending_now_1

    3 tips to avoid locking in losses | Mass Mutual

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    By Allen Wastler
    Allen Wastler is a former financial journalist with over 30-years of experience, including time at CNBC, CNN, and Knight-Ridder Newspapers.
    Posted on Apr 13, 2020

    After a huge market downturn and a major loss of value in your investment portfolio, the temptation to do something — anything — may be hard to resist.

    But in many ways, the best action may be to take no action. Why? An investment plan is a long-term project and making changes to it based on short-term considerations is often ill-advised. That’s why financial professionals encourage people to stay calm during market sell-offs and think about long-term objectives.

    “It is a tough and scary time, and not locking in losses by panic selling is critical,” said J. Todd Gentry, a financial professional with Synergy Wealth Solutions in Chesterfield, Missouri.

    But even if you did resist the initial impulse to flee during a market retreat, you still need to keep some discipline about your portfolio as you wait for a market recovery. Here are some traps to avoid….Read more: Avoid Locking in Losses

    Markets, as a whole, have historically bounced back from downturns with time, as the following chart illustrates.

    Source: Bloomberg. The S&P 500 is an equity index that consists of the stocks of 500 large U.S. companies measured by market capitalization. The results here include the effect of reinvested dividends. You cannot invest directly in an index.