FINANCIAL ADVICE FOR THE NEW YEAR

Here are some excerpts from an interview with Bill McNabb, CEO of Vanguard, the investment management company:


What is the overarching lesson you think investors should take from the past year's turmoil?

. . . it's important to live, or invest, within your means. Many people have different opinions on the root cause of the crisis, but leverage - overindebtedness - certainly played a huge role. My hope is that investors take to heart that too much leverage, whether in investing or personal debt, is not a good thing . . . saving money is critical. It's not easy to hear that you may have to work longer, save more, or reduce spending, but it is the truth . . . I believe it has given everyone a strong dose of reality.

What should investors be doing right now to position themselves well for the future?

This is a good time for investors to ensure they understand their long-term objectives, reassess their time frame and risk tolerance, and make sure they have an appropriate investment plan. Most of all, investors need to save more. It's a real mantra for me. As investors, we relied too much on asset inflation, some of which proved to be a bubble, to bail us out of a low savings
rate . . . Americans need to save 14% to 15% of their income for retirement.

SNEAKY SWEETENERS

Trying to cut back after those holiday splurges? Check your food labels -- added sweeteners such as sugar and (high fructose) corn syrup added to processed foods have increased 20% over the past 3 decades, resulting in many of us struggling with excess weight. Women should consume no more than 100 and men no more than 150 calories per day of added sweeteners according to the American Heart Association. The average American actually consumes 355 calories (22.2 teaspoons) per day with one gram of sweetener equaling 4 calories. Here are some products surprisingly high in added sweeteners:

-Soda: A 12 oz. can contains 8 teaspoons (130 calories) of sweeteners - there's your daily allotment! And be aware that studies show that diet soda drinkers are more likely to gain weight due to the negative effects of artificial sweeteners on body chemistry.

-Dried, sweetened cranberries: 1/3 cup will hit you with 100 calories of added sweeteners.

-Granola bars: Often deemed a healthful snack, some are tricky - a 1 oz. serving of a granola bar with oats, fruit, and nuts has 44 calories of added sweeteners.

-"Reduced" salad dressings: 1/4 cup of reduced-calorie French dressing heaps 60 calories of added sweeteners.

-Ketchup: 1/4 cup of regular or low-sodium racks up 40 calories of added sweeteners.

-BBQ sauce: 1/3 cup of this summertime favorite adds 12 calories of added sweeteners on to those ribs and chicken.

-Canned baked beans: A 1 cup serving with no salt added will cost you 60 calories of added sweeteners.

-Flavored popcorn: Fat-free caramel popcorn has 72 calories of added sweeteners per ounce serving.

-Lemonade: A single serving of the powdered drink has 68 calories of added sweeteners.

-Flavored drinks: Coffee-flavored liqueur has 64 calories of added sweeteners per ounce.
Sources: US News and World Report, American Heart Association, American Dietetic Association, University of Texas


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