Into a new year! So much happened last year as we all had to make adjustments to our routines to try to keep safe from the Covid-19 virus- probably the biggest change has been how we’ve had to stay home so much more.
Now, most people work from home, global people had all had to adapt to entertaining themselves at home and getting in their workouts at home too. Last year we needed to buy a treadmill to be able to get the miles in under our own roof; but boy, was it hard to find a good one as they were snapped up quickly by others with the same intention.
in 2021, with the virus seeming to be worse that last year, and with it becoming far more personal as family and people we know are getting ill and even dying, it’s a constant reminder of our mortality. One positive about that is that we’re asking ourselves some important questions and hopefully making the necessary changes to be safer, healthier, more communicative with our family and friends and loving them and ourselves.
After all, none of us are getting any younger! On that note, here’s a lovely little story with some good advice to help weather whatever life throws at us:
How to Age Gracefully
3 pieces of real advice By Kim Vazquez
When I was 20, I lived with my grandmother in a tiny apartment on the west side of Manhattan while attending college. One time my great-aunt came to visit. After greetings and a hug, she commented on how plump and firm my skin looked. My grandmother’s response was matter-of-fact, “Everyone’s skin looks like that at 20.” My great-aunt barely paid attention. She was wrapped up in her thoughts, a look of longing in her eyes, as she pressed back on her cheek and stared into a mirror. My grandmother shook her head and turned to me, “Before you know it, you’ll be in our shoes. Listen to what I’m telling you now. There’s nothing wrong with aging. Accept it and keep going.”
That made me realize that there are two types of women, the ones who age gracefully and the ones who waste their time mourning the loss of their youth.
I didn’t want to be the second kind. That look of longing I had seen in my great-aunt’s eyes seemed sad and depressing. I wanted to be the type of woman that looks good and kicks ass forever. I longed to be elegant and sophisticated as I aged, like Helen Mirren, Salma Hayek, Michelle Yeoh, or Angela Bassett. These ladies exude real confidence — the kind you acquire with age and experience.
So, I worked towards this. As the saying goes, “You don’t prepare for war in time of war.” Habits you form before you get older will go a long way to ensuring you have a healthier and longer life. I’ve always kept this in mind and based my life choices on this belief.
Now I’m in my 50s. My friends are all moaning about their lost elasticity and waistline or their joint pain and blood pressure. But, me? I’m feeling good. And, according to my husband and several men on the street, I look good too.
“Your 40s are good. Your 50s are great. Your 60s are fab. And 70 is f*@king awesome!” — Helen Mirren
Mindset, Prevention, and Healthy Lifestyle:
- Mindset: Be accepting of the inevitable. You will age. You can’t stop this, so stop trying to pretend it’s not happening. Hey, it’s better than the alternative. Also, stop leaving it for tomorrow. Start dealing with it now. You’re already aging, and what you’re doing to your body now will affect it soon enough.
- Prevent instead of lament: Look at your older family members to get an idea of how to prepare for your aging. If your mother, father, grandparent, aunt, or uncle suffer from something, there’s a chance you will too. So keep that in mind when you’re ordering that burger with the large fries. Or decide to put off working out till you’re older because you think you have time. Also, pay extra attention to your teeth and feet. I think these are two things we don’t pay enough attention to throughout our lives. You don’t want to be in your 60s and be in pain every time you take a step or chew your food.
- Healthy lifestyle: There’s no way around it. It would be best if you cultivated healthy habits early in life. That means eating more fruit and vegetables and cutting way back on the processed stuff. Drink lots of water. If you smoke, quit, or better yet, don’t start. Floss and brush your teeth. (No one seems to floss anymore.) Wear sneakers or comfortable shoes. Keep alcohol to a minimum. Get up off the couch and move. Work out consistently throughout your life. What you put in your body and how you treat it matters. Take care of yourself.
And, finally, even though the earlier you start, the better, it’s never too late. Contrary to popular belief, our metabolism does not slow down as we get older, and it’s not all downhill after 30. What does happen is that we become less active and more complacent. So, don’t let that happen. Stay active. Swap out the processed foods for fresh. Take off the heels and luxuriate in a nice pair of sneakers. Pour yourself a glass of water and quit smoking. And the next time you look at yourself in the mirror, don’t long for the wrinkle-less firm skin of your youth. Appreciate the experience and wisdom etched in your face and enjoy the beauty in that. Oh! And don’t forget to floss!
“Nature gives you the face you have at twenty; it is up to you to merit the face you have at fifty.” — Coco Chanel
In the News this Week:
- The Reserve Bank’s Monetary Policy Committee (MPC) remained divided along the same lines as during the previous two meetings, with three to two in favour of an unchanged repo rate (Table 1). This decision was in line with our expectations. The decision to hold mainly reflects a benign inflation outlook and continued downside risks to growth prospects.
- The SARB’s Quarterly Projection Model (QPM) now suggests an earlier hike of the repo rate. It reflects a 25 basis points move in the second quarter of 2021 and a similar increase in the third quarter. At the time of the previous MPC meeting, the QPM suggested hikes in the third and fourth quarters of this year.
- Inflation outlook: Price pressures are expected to be broadly benign throughout the forecast period as food inflation remains contained, the exchange rate pass-through effect remains muted and global oil prices are subdued. The SARB assumes electricity tariff increases of 8.2% in 2021 and 10% per annum over the next two years, while increases in fuel levies and taxes are expected at 5% per annum over the three years. These suggest that risks to the inflation outlook are moderate, but the probability of steeper electricity increases is, of course, elevated, as Eskom is pushing for those, while hikes in fuel levies in the February 2021 budget are likely to be in the double digits. However, we do not expect these to be significant threats to the outlook due to weak underlying demand in the economy.
- Growth outlook: The SARB has reduced its estimated real GDP contraction for 2020 further (Table 2). This is mainly due to the stronger than expected bounce in third-quarter GDP, but the MPC expects a slightly weaker fourth quarter growth number than previously indicated. Risks to the growth outlook are still assessed to be balanced, but domestic constraints remain a key hindrance to the recovery. We expect GDP to contract by 7.3% for 2020 and growth of around 3.5% in 2021.
- Exchange rate view: The rand has firmed marginally since the November meeting, but it is still weaker than the SARB’s estimated long-run equilibrium value, with the MPC stressing that pressure on the exchange rate could emanate from the difficult fiscal situation. The latest inflation forecasts are based on a rand starting point of R15.70/US dollar compared with R16.50 at the time of the previous meeting. This assumption is 5% below the prevailing rate, therefore a starting point closer to the current exchange rate of R14.90 would not have altered the inflation forecasts significantly.
- Outlook: The latest decision continues to reflect the Reserve Bank’s cautious approach given the amount of stimulus already provided against the backdrop of a highly uncertain environment. The economic outlook has generally improved despite the persistence of Covid-19, but risks remained firmly tilted to the downside. This suggests that interest rates are likely to remain unchanged for longer than the QPM suggests, hence we maintain our view that the repo rate will remain unchanged for much of 2021.
Please give us a call or email if you need any assistance. Have great weekend!
Kind regards,
Your TurnPoint Team
Vic Hodoul CFP®
Certified Financial Planner®
Cell +27 (0) 79 353 1076 Email vic
Office/Admin Manager: Arlene Schoeman: +27 (0)21 555 1010 Email arlene@turnpoint.co.za
TurnPoint Investments
Website: https://turnpoint.co.za
Milnerton Office: 5 Royal Atlantic, Sunset Beach 7441
Cape town Office: Suite 824, The Onyx, 57 Heerengracht Street, Foreshore 8005
Tel +27 (0)21 555 1010 Fax +27 (0)86 589 2738
Individual and Corporate Investment, Retirement, Estate, Risk and Tax Planning Solutions
TurnPoint Investments (Pty) Ltd. Registration Number 2003/020010/07 | Financial Service Provider (FSP licence number 12820) Directors VD Hodoul DL Hodoul