What to do if the Corona Virus Strikes.

Good Advice from a Nurse:

So what I have seen a lot of, are recommendations for how to try to avoid getting coronavirus in the first place -- good hand washing, personal hygiene and social distancing.

But what I have NOT seen a lot of, is advice for what happens if you actually get it, which many of us will. So as your friendly neighborhood Nurse let me make some suggestions.

You basically just want to prepare as though you know you’re going to get a nasty respiratory bug, like bronchitis or pneumonia. You just have the foresight to know it’s coming!

Things you should actually buy ahead of time (not sure what the obsession with toilet paper is?): Kleenex, Paracetamol Ibuprofen (Advil), whatever your generic mucus thinning cough medicine of choice is (check the label and make sure you're not doubling up on Paracetamol) Honey and lemon can work just as well! Vick vaporub for your chest is also a great suggestion.

If you don’t have a humidifier, that would be a good thing to buy and run in your room when you go to bed overnight. (You can also just turn the shower on hot and sit in the bathroom breathing in the steam). If you have a history of asthma and you have a prescription inhaler, make sure the one you have isn’t expired and refill it/get a new one if it is.

This is also a good time to meal prep: make a big batch of your favorite soup to freeze and have on hand. Stock up on whatever your favorite clear fluids are to drink - though tap water is fine you may appreciate some variety.

For symptom management, use the meds mentioned. For a fever over 101, alternate Paracetamol and Ibuprofen so you’re taking a dose of one then the other every 3 hours.

Hydrate (drink!) hydrate hydrate! Rest lots. You should not be leaving your house! Even if you are feeling better may will still be infectious for fourteen days and older people and those with existing health conditions should be avoided! Ask friends and family to leave supplies outside to avoid contact.

You DO NOT NEED TO GO TO THE HOSPITAL unless you are having trouble breathing or your fever is very high (over 103.5) and unmanaged with meds. 90% of healthy adult cases thus far have been managed at home with basic rest/hydration/over-the-counter meds. If you are worried or in distress or feel your symptoms are getting worse, ring 111 and they will advise if you need to go to hospital. The hospital beds will be used for people who actively need oxygen/breathing treatments/IV fluids.

If you have a pre-existing lung condition (COPD, emphysema, lung cancer) or are on immunosuppressants, now is a great time to talk to your Doctor or specialist about what they would like you to do if you get sick.

One major relief to you parents is that kids do VERY well with coronavirus— they usually bounce back in a few days (but they will still be infectious), NO ONE under 18 has died, and almost no kids have required hospitalization (unless they have a lung disease like CF). Just use pediatric dosing. Be calm and prepare rationally and everything will be fine.

Five Potentially Devastating Mistakes Pre-Retirees and Retirees Make.



Failing to save enough is an obvious, and all-too-common, disaster in the making, but here are five much trickier danger zones to steer clear of. 

The road to and through retirement is filled with potholes. Some are small, and you may be able to drive right over them, but some can be devastatingly deep. They could send you on a financial tailspin with little chance of recovery. 

Here are five mistakes that could hinder your retirement plans:

1. Focusing on the wrong thing: Retirees spend a lot of time worrying about how much things will cost as they age — health care, long-term care, etc. My advice to retirees is to switch their mental energy to the other side of the ledger — their incomes. If you have enough income, and you’re managing it well, you’ll be prepared to handle those expenses as they come at you.

2. Misunderstanding risk: No one knows for sure which way the market will go. We use different measures to aim to figure it out, but at the end of the day, it’s impossible to predict. So, it’s up to retirees to control the amount of risk they are experiencing. For many people, it’s tough to get past the idea that risk equals reward. In the second half of one’s financial life, however, you cannot afford the same kind of risk you tolerated when you were saving money for retirement.

3. Not knowing what you pay: Many people go forward with their financial adviser’s investment strategies without understanding all the possible costs in both hidden and disclosed fees. When you add up the cost of paying your adviser, along with the trading and product costs for your investments, the fees could be upward of 3%. That means you have to get a 3% return just to break even. Don’t just nod and agree with the plan the adviser sets before you — ask questions and check costs.  

4. Leaving your IRA or equivalent to your surviving spouse without considering alternatives: Most people leave their IRA to their spouse without even thinking about how the surviving spouse’s tax status will change — from how the surviving spouse may file (single vs. married filing jointly) to how much taxable income they now have. We encourage married couples to work with their tax preparer or CPA to draw up a mock return that would reflect any possible changes to tax liability if a spouse would pass away. It’s easier to plan for this significant life event than to have to react at that moment. Other choices for bequeathing an IRA would include younger individuals (although they would be required to take required minimum distributions, the percentages to withdraw would be quite small) and a see-through trust.

5. Accepting low returns: The stock market isn't the only place to get a decent return these days. There are many different investment vehicles designed to create lasting income in retirement, which should be the No. 1 focus of retirees. One of those vehicles is a fixed indexed annuity. By taking a portion of their money and putting it on deposit with an insurance company, retirees are able to take advantage of the upside of the market without taking on any of the downside risk. There are also options for creating assistance with potential long-term care costs — something many retirees fail to protect themselves against due to high premiums.  

How can you avoid these potential problems in your retirement journey? I always encourage a person to find an adviser who specializes in the second half of an individual’s financial life and to be sure and ask how the adviser is managing their funds. Receiving good financial advice is one of the most important things you can do for your future self. 

Courtesy: By Roger Ford, RFC, Investment Adviser | Conservative Financial Solutions