bus12 final

the stress hormones:

-Adrenaline/epinephrine Noradrenaline/norepinephrine Cortisol

What kinds of jobs are likely to cause more stress

1. Low level jobs, like working on an assembly line. Typically no control or choice, even on taking bathroom breaks, often low on information - don't know WHY have to do certain things and in certain ways. 2. Middle management CAN be very stressful if have lots of responsibility and low authority.

What is a Health Power of Attorney

A power of attorney directive names someone that you trust to act as your agent if you are unable to speak for yourself. If you want to choose one person to speak for you on health care matters, and someone else to make financial decisions, you can do separate financial and health care powers of attorney.

What is just the right amount of stress

Goldilocks effect. Moderate stress. Activity that is just enough challenge to be interesting, not enough to be overwhelming.

What are tax consequences for withdrawals from an IRA or ROTH IRA

If the withdrawal is made before age 59 and 1/2 and is only up to the amount that has been contributed to the Roth IRA then no income tax is charged. Withdrawals of contributions are tax-free.

What is an IRA

Individual Retirement Account, private pension that workers can take with them as they move from one job to another

good stress

does what your body was made for; it not only strengthens the good things about stress - e.g. lungs, heart, etc get stronger - also strengthens ability to return to normal (norepinephrine/noradrenaline) slow down heart rate, breathing, ... begin repair and maintenance. Short bouts of moderate stress are highly adaptive, makes you better at responding to stressful situations.

How can Inflation impact your retirement planning

if things cost more when you take your money out you have to account for that

What is a Roth IRA

an individual retirement account allowing a person to set aside after-tax income up to a specified amount each year. Both earnings on the account and withdrawals after age 59½ are tax-free.

Can you borrow funds from your 401K

yes

What is a Will

written instrument whereby a person makes a disposition of his property

What is a 401k

A 401(k) is a retirement savings plan sponsored by an employer. It lets workers save and invest a piece of their paycheck before taxes are taken out. Taxes aren't paid until the money is withdrawn from the account.

What is a Defined Contribution Plan

A defined contribution (DC) plan is a type of retirement plan in which the employer, employee or both make contributions on a regular basis.

What is a Living Trust

A living trust (sometimes called an "inter vivos" or "revocable" trust) is a written legal document through which your assets are placed into a trust for your benefit during your lifetime and then transferred to designated beneficiaries at your death by your chosen representative, called a "successor trustee."

What happens during the stress response - sympathetic system

Energy runs to muscles for fight or flight: heavy breathing, increased heart rate, increased blood pressure, and high blood sugar - glucose, proteins, fat all flow to fight or flight sense of pain blunted Energy diverted from: Digestion Reproduction Repair & maintenance Immune response

How to manage stress:

Exercise especially aerobic Social relationships/support Meditation Religion or spirituality

What is the difference between being poor and feeling poor

Poor have more stress It is about how poor you feel rather than how poor you are If everybody is poor (equality) then nobody feels poor, less stress The bigger the gap between rich and poor the bigger the difference in health/longevity

What is tax deferred

Tax deferral refers to instances where a taxpayer can delay paying taxes to some future period. In theory, the net taxes paid should be the same. Taxes can sometimes be deferred indefinitely, or may be taxed at a lower rate in the future, particularly for deferral of income taxes.

What is the 3-legged stool for retirement

The "three-legged stool" was a retirement terminology from the past that many financial planners used to describe the three most common sources of retirement income for a retiree during retirement - Social Security, employee pensions, and personal savings.

What is a Defined Benefit Plan

a company pension plan in which an employee's pension payments are calculated according to length of service and the salary they earned at the time of retirement.

What is an annuity

a finite set of level sequential cash flows. a fixed sum of money paid to someone each year, typically for the rest of their life.

bad stress

keeps hormones in circulation long enough to become harmful, e.g. cortisol. If keep kicking up the epinephrine (adrenaline); it becomes difficult to kick in the norepinephrine. Heart rate, blood pressure stay high causing arteriosclerosis - hardening of the arteries, and damage at junctions of the arteries start collecting plaque and become clogged. High blood sugar over long periods leads to diabetes. Immune system and repair/maintenance functions on hold too long become vulnerable to a host of diseases. Long bouts of moderate stress and sometimes even short bouts of extreme stress are maladaptive. Appropriate responses to stress become more and more difficult

What impact does early SES on your health

low ses=bad health high ses= good health

What are other forms of cash generators for retirement

selling belongnings

What is a Power of Attorney

the authority to act for another person in specified or all legal or financial matters. a legal document giving power of attorney to someone.

What is Probate

the official proving of a will.

What purpose may permanent life insurance have for estate planning

the rate doesn't change, assets- if you die you are worth a certain amount of money. You are part of the estate