Category Archive

2024 January

401(k) Retirement Plan

2024 January, Benefit Spotlight December 27, 2023

Contributing to a 401(k) plan is a way to help you build savings for your future self and financial security later on in life. One of its benefits is its automation (often deducted straight from your paycheck), and it can make investing easier. It also comes with different tax benefits, depending on the type of plan you elect.

Types of 401(k) Plans

  • Traditional 401(k): These contributions are made with pre-tax dollars, which lowers your annual taxable income and grows on a tax-deferred basis. You won’t pay taxes on this money until you begin withdrawing during retirement.
  • Roth 401(k): Contributions to this option are deducted after taxes. You pay the tax now, but you won’t be taxed down the line when making withdrawals during retirement.

A good rule of thumb is to opt for the traditional plan if you expect to be in a lower marginal tax bracket during retirement. That way you can take advantage of the immediate tax break. Another consideration is if your budget is extremely tight, the traditional 401(k) doesn’t reduce your immediate spending as much as a Roth will.

If you think you may be in a higher bracket come retirement, the Roth option can help you maximize your savings and avoid higher taxes later on (especially since the Roth can grow over the years and that earned money will be tax-free).

There’s also the option to contribute to both plan types and hedge your bets — just don’t exceed the contribution limits!

2024 Limits

The contribution limits for a 401(k) periodically rise year-over-year due to rising inflation. For 2024, individuals can contribute up to $23,000 to their 401(k) plans, which is a $500 increase from the 2023 limit.

The catch-up contribution limit for employees (aged 50+ years) remains at $7,500, for a total of $30,500. The catch-up contribution helps accelerate the progress for those closer to retirement.

Contributing to a 401(k)

Industry standards suggest saving 12-15% of your income, but it’s important to look at your own financial situation and needs. You don’t want to reduce your take-home pay so much that you end up in a bind and need to withdraw early (before age 59 ½) from your 401(k) — something that comes with a penalty from the IRS.

If your employer offers a company match, make sure you contribute up to the match amount so you’re not leaving free money behind. For example, if your company offers a 3% match, be sure to contribute 3% of your income (which will result in a 6% contribution total).

Another important consideration if you’re participating in your company-sponsored 401(k) is vesting. It’s necessary to understand your company’s vesting schedule so you know what money is yours to keep should you leave your employer. The money you contribute will be 100% yours to keep (or rollover into another employer’s plan), but the contributions made from the employer may take some years before they’re your dollars to keep.

https://www.nerdwallet.com/article/investing/what-is-a-401k
https://www.nerdwallet.com/article/investing/what-is-a-401k
https://www.nerdwallet.com/article/investing/what-is-a-401k
https://www.nerdwallet.com/article/investing/what-is-a-401k
https://www.nerdwallet.com/article/investing/what-is-a-401k

Daily Functional Exercises

Have you ever walked around the grocery store, stocked up on goodies for a Superbowl party or holiday meal, and then loaded and unloaded the car in a single afternoon and thought, “whew, that felt like a workout?”

It’s because it was — just maybe not in the sense of bodybuilding, running endlessly on a treadmill, or suffering through a HIIT (high-intensity interval training) workout. And while those options certainly check the box for fitness, there are other means — often more accessible and safer for certain people — that help keep you healthy and mobile.

Functional fitness focuses on and prioritizes replicating and practicing movements we use in our everyday lives. This is important for everyone, but it can be especially critical for those who are aging or struggle with mobility in their daily lives when moving heavier objects, carrying groceries, or even tossing a ball or swinging a bat while playing baseball with friends. Functional exercises help build flexibility, balance, and strength, improve athletic performance, and prevent injuries by moving large groups of muscles across your body rather than targeting a specific body part. The goal of the exercises is muscle movement.

Here are some examples of functional fitness exercises:

Farmer’s Walk

This exercise is quite simple. It requires you to pick up a weight in each hand (dumbbells, kettlebells, soup cans, bags of potatoes, etc.) and walk — that’s it! You want to make sure you use good form while picking up the weight, keep your shoulders back and posture tight, keep your core engaged and head up, and take even, manageable steps (leading with your hips).

Incorporating the Farmer’s Walk into your routine will help challenge and build your arms, shoulders, core, and grip strength, as well as your quads, hamstrings, and calves lower down.

The Farmer’s Walk is the definition of a functional exercise because who doesn’t have to lift, carry, and move objects from place to place? We do this when pulling out or putting away holiday décor, grocery shopping, or even carrying loads of laundry around the house.

Once you get comfortable with the Farmer’s Walk and want to increase the difficulty, try carrying heavier weights or lengthening your steps.

Squats

Mastering one of the most fundamental functional exercises — squats — will lend itself to so much to your daily activities. The movement, strength, and skill you get from squats can help when you are getting off the ground, picking up larger or heavier objects, or even doing yard work. Squats can help target your quadriceps, hamstrings, glutes, calves, and shoulders.

A simple bodyweight squat is a great starting point. You stand with your feet shoulder-width apart and lower into a squat by bending your knees (don’t let them go further out past your toes) while shifting your hips back. While you’re moving down into the squat, extend your arms out in front of you to help maintain balance and work your shoulder movement. You want to try to keep a straight back the whole time since the movement is coming from your hips and lower.

There are so many variations of the squat, and you can modify it for where you are in your fitness journey. An assisted bodyweight squat is a good place to begin if you are nervous about your overall mobility and balance. You hold onto a stable fixture (like a fixed pole or ballet bar) while you get comfortable with the squat movement. You can also do a wall squat, where you keep your back pressed up against the wall as you squat down. This helps you focus on form and not strain your lower back.

If you’re looking to up the challenge, try holding weights while doing your squats, or consider a jump squat. The jump squat will have you jump up into the air when you come out of the squat and then land carefully before quickly squatting back down again. Be sure you have enough skill for this progression and are using proper form when landing on your feet so you don’t cause an injury.

Other Functional Fitness Movements

There’s no shortage of exercises to choose from when building out a routine — something to keep in mind if you tend to get bored easily. Here are some great examples you can incorporate into your exercising and modify to meet your needs:

  • Lunges (walking, reverse, jump — a variety of options!)
  • Mountain Climber
  • Bear Crawl
  • Pushups (classic, wall pushup, knee pushup, single-arm pushup)
  • Jumping Jacks
  • Planks (traditional, side plank, single-arm plank, dumbbell plank rows)
  • Bridges
  • Burpees

As always, use caution when performing new movements or consult your physician or a physical therapist if you have past injuries or concerns.

Sources:

https://www.nerdfitness.com/blog/the-ultimate-guide-for-functional-fitness-exercises-and-workout-plans/
https://www.webmd.com/fitness-exercise/how-to-exercise-with-functional-training
https://www.spartan.com/blogs/unbreakable-training/best-exercises-for-functional-strength
https://www.healthline.com/health/fitness-exercise/functional-strength-training
https://www.oxygenmag.com/workouts-for-women/total-body-workouts-for-women/the-worlds-10-best-functional-exercises

Dry January

There are several reasons someone might participate in Dry January — to kickstart those “be healthier” resolutions, to reset after an overindulgence during the holiday season, to examine their relationship with alcohol, or simply for the sake of participating alongside others.

You can experience a variety of benefits from cutting out alcohol for an entire month, including improved sleep, weight loss, and saving money.

But taking part in Dry January doesn’t need to hinder social activities or restrict your beverage consumption to only water, juice, and carbonated sodas. In fact, mocktails (nonalcoholic cocktails) are becoming more common and getting added to a variety of establishments’ beverage menus.

The secret to a great mocktail is using your imagination (there aren’t any strict rules) and discovering what flavor combinations you prefer. Some staple ingredients to keep on hand when diving into nonalcoholic drink combos include tonic water, sparkling water, seltzer, your favorite garnishes (berries, citrus, jalapeno, etc.), juices (orange, lemon, and pineapple, to name a few), and limes.

Nonalcoholic ginger beer is also a great ingredient to keep on your shelf (or drink by itself), as are bitters. However, be sure to check the labels because bitters can technically be considered alcoholic — though their flavor is so strong that recipes often require a few drops, resulting in no overall alcohol consumption.

If you’re intimidated by the prospect of mixing up a mocktail based on a tried-and-true cocktail, you can start with something easier. In a wine glass filled with ice, pour in your favorite fruit-flavored seltzer water, add a few squeezes of lime juice, and a dash of bitters. It’s crisp, it keeps you hydrated, and it’s certainly not as boring as water straight from the tap!

If you’re looking to step up your alcohol-free drink game, consider one of the recipes below:

Margarita Mocktail

Looking for a mocktail to pair with your chips and guacamole? Try mixing up a batch of these nonalcoholic margaritas featured in Southern Living. In a pitcher, combine 5 cups of your favorite limeade, half a cup of orange juice (freshly squeezed is best), and 1/4 cup of fresh lime juice. Add a pinch (about 1/4 teaspoon) of coarse sea salt and stir until it’s dissolved. Add ice and top up the pitcher with 2 cups of sparkling water or club soda. Pour a serving (this batch makes five!) into a salt-rimmed glass and garnish with lime wedges. If you want to change it up a bit, you can add in your favorite pieces of fruit and fruit juices, or add in some muddled jalapeno to give it some heat.

Rosemary Ginger Mule

Put a wintery (and alcohol-free) twist on the Moscow Mule, also from Southern Living, by whipping up a rosemary ginger mule. You can prepare rosemary syrup by bringing 1 cup water, 1 cup granulated sugar, and 1 cup of rosemary springs (lightly packed) to a boil over medium heat until all the sugar dissolves. Remove from heat and allow the syrup to steep for half an hour while covered. Once you strain the syrup, set aside two tablespoons for your drink, and store the remainder in an airtight container (up to three weeks). In a mug (like the classic copper mule cup) with ice, stir in a 7 oz. can of nonalcoholic ginger beer, two tablespoons of the rosemary syrup, and one tablespoon of fresh lime juice. You can then garnish with rosemary and a lime wheel.

Some More Classics

You can also find ways to enjoy nonalcoholic versions of the more “classic” cocktails. If you want a mock gin & tonic, you can certainly find a nonalcoholic gin to opt for. Another option is to infuse the drink with fragrant spices or botanicals. Chamomile, mint, closes, rosemary, and cardamom are great options. If you’re craving something more tropical, consider a virgin piña colada. Combine pineapple, sugar, and your favorite spices, and then blend with lime juice, pineapple juice, and creamy coconut milk.

If you’re considering joining others in Dry January, don’t look at it as missing out — instead, frame it as a chance to explore new beverage options and tap into some kitchen creativity.

https://www.niaaa.nih.gov/about-niaaa/directors-page/niaaa-directors-blog/participating-dry-january-here-are-tips-success

Seasonal Affective Disorder

While the colder months can usher in a number of things many of us enjoy — holiday cheer, new fashions and flavors, and the embracement of all things cozy — for others it can bring a case of the “winter blues.” And while that concept might be dismissed by some, it’s a very real (and in some cases, a very serious) experience for others.

Seasonal Affective Disorder (SAD) is a type of depression that is brought on during certain seasons of the year — typically fall and winter. (If you live in a warmer climate, you might experience SAD in the summer.) According to Cleveland Clinic, about 5% of adults in the U.S. experience SAD, typically starting between 18 and 30 years of age, and it most often affects women.

What causes Seasonal Affective Disorder?

While there’s no clear cause for Seasonal Affective Disorder, the shorter, darker days are believed to trigger a chemical change in the brain that is linked to the depression symptoms experienced. Like most things, the symptoms of SAD can vary in different people. Some of the most common symptoms experienced include increased sleep, withdrawing from socializing, and brain fog.

Symptoms of SAD

Like most things, the symptoms of SAD can vary in different people. Some of the most common symptoms experienced include:

  • Increased sleep, including daytime drowsiness (did you know the sleep-related hormone, Melatonin, is naturally produced more in the body when it’s dark?*)
  • Withdrawing from socializing with others
  • Heightened irritability and anxiety
  • Weight gain
  • Headaches
  • Brain fog or difficulty focusing and concentrating
  • Decreased sex drive
  • Feelings of guilt or a sense of hopelessness
  • Low energy levels and losing interest in activities typically enjoyed

Ways to treat or prevent SAD

There are a number of steps you can take when trying to ward off SAD, including recommendations worth implementing year-round. To help alleviate symptoms:

  • Exercise regularly (at least three times a week for 30 minutes). It will help you combat stress and anxiety, while also boosting endorphins.
  • Eat healthy, well-balanced meals. This can be difficult with all the holiday festivities that occur in the fall and winter months, and it’s why building healthy food habits year-round is crucial. Eating a diet rich in vitamins and minerals can give you much needed energy. Get enough rest and try to stick with a sleep routine to help regulate your internal clock (which in turn helps to regulate your hormones and mood).
  • Manage stress and enlist the help of a counselor or therapist if needed.
  • Get outside and enjoy the daylight whenever possible (even if it’s cloudy!).
  • Do activities you typically enjoy — whether that’s seeing friends, arts and crafts, going to the movies, playing sports, listening to music, or gardening.
  • DON’T try to make any big decisions or life changes (marriage, divorce, quitting your job) until the SAD has lifted and you can consider the life transitions objectively.
  • DON’T isolate yourself. Even if you don’t feel like going out to social events, be sure to reach out to friends or loved ones regularly.
  • DON’T rely on alcohol or take unprescribed medications as these can worsen your symptoms.

As always, remember that you’re not alone, and it’s important to speak with your healthcare provider or a mental health professional if your symptoms are severe. Other treatments, including possible medications, may help prevent future episodes.

Sources:

https://www.hopkinsmedicine.org/health/conditions-and-diseases/seasonal-affective-disorder
https://www.mayoclinic.org/diseases-conditions/seasonal-affective-disorder/symptoms-causes/syc-20364651
https://www.nimh.nih.gov/health/publications/seasonal-affective-disorder
https://my.clevelandclinic.org/health/diseases/9293-seasonal-depression
*https://www.hopkinsmedicine.org/health/conditions-and-diseases/seasonal-affective-disorder