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I\\u2019m feeling optimistic this year and I want to continue to spread that optimism. That\\u2019s why I want to focus several shows on travel. Most people\\u2019s travel plans were foiled by covid in 2020, so 2021 will be the year of the vacation! We\\u2019ll be interviewing experts and discussing the mental and physical health benefits of travel. We get started on that road today with a Retirement Headline from Harvard Business Review.\\xa0
You have probably heard that without recovery periods, your ability to perform tasks effectively diminishes significantly. However, this is in direct conflict with the common practice of powering through work without a break.\\xa0
The Harvard Business Review performed a study with the US Travel Association to help understand the relationship between wellbeing and taking time away from work.\\xa0
They discovered that there has been a significant decline in vacation days over the past 2 decades. In 1996, Americans averaged 21.1 vacation days per year and in 2016 that number fell to 16.1 vacation days per year.\\xa0
Although productivity has increased due to technology, our inability to unplug has offset those gains. In fact, our inability to step away from technology has even led to bad vacations. According to the article, poorly planned vacations do not improve energy levels or reduce stress, effectively eliminating the time away. Learn what you can do to make the most of your vacation time by listening to this episode of Retirement Starts Today.\\xa0
People who took fewer than 10 of their vacation days per year had a 34.6% likelihood of receiving a raise or bonus over a three-year period of time. Whereas, people who took more than 10 of their vacation days had a 65.4% chance of receiving a raise or bonus. So, double your chances for a raise and take a vacation!\\xa0
Seth\\u2019s mom insists that she doesn\\u2019t need the money in her $500,000 401K until it\\u2019s time to start taking RMDs. He wants to help her understand what she should do with the money.\\xa0
My first question is why doesn\\u2019t she need it? Many people are worried about having enough money to last the rest of their lives. Is she underspending to make her money last longer? After understanding her reasons, there are a few things she can do.\\xa0
Long term tax planning is key here. You may be surprised to learn that sometimes it is better to pay more in taxes now to help save on your lifetime tax bill. Listen in to learn how long-term tax planning can affect retirement planning.\\xa0
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