2017 Health & Wealth Magazine

3 TIPS TO STREEEETCH RETIREMENT SAVINGS

in check

GET YOUR CREDIT

ESTABLISHING CREDIT

GETTING FIT

PLANNING FOR RETIREMENT

Hit the

GYM MA XIMIZE YOUR MEMBERSHIP

SPECIAL ADVERTISING SECTION OF THE BANGOR DAILY NEWS

2017

HEALTH & WEALTH

CONTENTS

CONTENTS HEALTH & WEALTH 04 CREDIT This is the year to get your credit in check.

08 PLAN AHEAD Retirement planning tips for all ages, from how to roll over your old 401(k) to advice on stretching your savings.

09 3 TIPS TO STREEEETCH RETIREMENT SAVINGS Steps for retiring on a budget.

10 START (OR END) YOUR DAY AT THE YMCA This nonprofit supports all genders, ages and fitness levels on their journey to better health.

PHOTOS: CHOREOGRAPH, H4CKERMODIFY/THINKSTOCK

14 ROAD MAP TO YOUR HSA Understanding your health savings account options.

16 HIT THE GYM Maximize your gym membership with these tips and learn how to save money when signing up for your membership.

18 EARLY DETECTION Cancer screening tips for men and women.

20 GIVE BACK Ideas for being charitable when money is tight.

22 EAT LOCAL Discover how eating locally-grown food benefits not only your health, but the health and wealth of your community.

bangordailynews.com

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ESTABLISHING CREDIT

CREDIT 2017 IS THE YEAR TO GET IT IN CHECK.

BY MATT CHABE

MAKING SENSE OF THE

#NUMBERS

Wondering what good credit looks like? Most credit scores operate within the range of about 300 to 850.

Within that range, there are different categories, from bad to excellent. They generally look like this:

Excellent Credit: 750+ Good Credit: 700-749 Fair Credit: 650-699 Poor Credit: 600-649 Bad Credit: below 600

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HERE ARE FEW THINGS in life that can be summarized in three simple digits but have the potential to affect your entire future. Of them, your credit score’s arguably the big one: it’s persistent, and it’s used to determine your ability to get loans, credit cards, housing, even jobs. It’s a concept that’s simple on the surface—a high number means more opportunity—but it’s fragile and deceptively multifaceted.

Fortunately, whether you’re just starting out or you’re starting over, there are methods and resources to get a handle on your credit and make it work for you.

“I think that what a lot of people don’t realize is that what you do with your credit at 18 is going to follow you for the next 10 years,” said Ginny Hughes, CEO of Changing Seasons Federal Credit Union in Hampden. “It’s going to affect so much. It’s there hanging over your head no matter what you do.”

In fact, said Hughes, the score itself is just a measurement tool for more nebulous but lasting concepts like risk and character.

“It’s not just a number,” she said “For instance, if you get cable through Time Warner and you can’t pay your bill and they’ve charged you off, and now you come to Dish Network to get a dish...well, they are not going to give you a dish. It’s not just a number, it’s a measurement of your character, it’s a predictor of what might happen down the line.”

In the U.S., the three main credit bureaus that tally and report credit scores are TransUnion, Equifax, and Experian.

The actual methods they use to calculate those scores are well-kept, said Hughes. However, there are some generallyaccepted factors at play, primarily in the ways you use your available credit and the ways you pay it off.

“The longer you’ve had an account open, that’s going to give you a better credit score,” said Hughes. “So if you go out and get a lot of new credit, that’s going to push your credit score down. If you have credit cards and you bring your balances up to the limit, then that’s going to make your score go down. They want to make that credit available to you, but they don’t necessarily want to use it all. So time on the credit, how you use your account...and just paying in general, length of time on the bureaus, and how you manage your available credit. Those are the factors that make up most of the score.”

Then, said Hughes, there are the generally negative factors: collection accounts, tax liens, bankruptcies, and charge offs when you don’t pay. “Those obviously will drive your score down pretty fast,” she said.

“One of the most common ways I see people ruining their credit is their payment history,” said Hazen Martin, Jr., a co-founder at ScoreMinders in Bangor, an agency that provides credit counseling, consolidation, and bureau dispute management. “And when people try to take out 10 credit cards at once, your report shows 10 credit inquiries—it looks like they are up to no good, it creates suspicion.”

PHOTO: DANIELFELA/THINKSTOCK

HEALTH & WEALTH

KEEP IN TOUCH Hughes recommends staying in touch with creditors if you’re falling behind.

“The worst thing you can do is ignore the call when you truly are late,” she said.

“If you get behind, you need to contact your lender, make a payment arrangement...

If you call a collection agency, they have to, by law, work with you to take payment.”

However, most people don’t keep tabs on their credit report until it’s too late, according to Martin. They may apply for a loan or a credit card, only to realize their credit score is low or that they have negative marks on their report. It’s then, he said, that the consumer might find items that never should have been there to begin with.

“Some common culprits include misspellings of your name to include other people’s report items, or maybe something’s still on there [that should have been removed],” said Martin, whose agency works with consumers to dispute such items.

“I see a ton of those. Those will weigh down people’s score, make them look more risky. Those are scores that lenders don’t want to work with.”

PHOTOS: JACOB WACKERHAUSEN, PINKYPILLS, G-STOCKSTUDIO/THINKSTOCK

START SMALL Hughes said the best way to establish or rebuild credit is to start small. Develop a relationship with a financial institution and open a small personal loan or credit card, make minimum payments on time, and keep payments at a level you can afford.

Martin offered similar advice: “We recommend someone getting two or three small secured credit cards, make small purchases, and go home and pay them off,” he said. “Always pay it off early, and pay 10 to 15 percent more than they are asking. Typically we see clients move on to unsecured cards, and six to 12 months later on to a line of credit.”

Hughes advises against falling prey to attractive offers once your credit is established. “It takes a lot of discipline to maintain credit,” she said, “but once you get good credit then everyone starts sending you offers in the mail. My recommendation would be don’t sign up for them. Choose your credit products wisely.”

CHECK YOUR SCORE Fortunately, there are a number of powerful resources available to check and maintain your credit score. By Federal law, anyone can check their credit report free of charge once a year at annualcreditreport.com. In Maine, the Bureau of Consumer Credit Protection assists consumers by investigating complaints and enforcing laws.

And credit agencies can be a powerful resource—many, such as Changing Seasons, offer products specifically designed to help people people build and repair credit. For instance, they offer credit builder products as well as a Better for Borrowers loan, which consolidates payday loans.

Hughes said the worst situations are when a customer lies about the reasons for a loan application, or requests a loan amidst a clearly suspicious financial situation.

“Some people work the system. Just be honest, because we’re going to be honest with you,” she said. “Everybody has bad things happen, everybody needs help. If we can help you we will, and if we can’t we’ll tell you why, we’ll tell you what you can do to fix it, and maybe when you come back we can help you next time.”

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HEALTH & WEALTH

BUILDING STRENGTH

BUILDING Strength BUILDING STRENGTH WITHOUT THE GYM. SPECIAL TO HEALTH & WEALTH FROM LYN BRAGDON, OWNER & CERTIFIED INSTRUCTOR AT SUPERSLOW ZONE BANGOR

T

HE REASONS PEOPLE DON’T EXERCISE are countless.

They don’t have time, don’t like sweating, don’t like gyms, don’t know what to do… you could go on and on.

But what if you could push all these things aside and build the strength you need to be healthy and active, all in just 20 minutes? What if you could do it with a flexible schedule, sweat-free, wearing the clothes you’re wearing right now?

Sound too good to be true? It’s not. At SuperSlow Zone in Bangor and its other locations around the country, none of those obstacles to exercising apply. This is not a gym in the traditional sense—it’s a professional service. All SuperSlow Zone sessions are held one-on-one with a certified instructor in a clean, quiet, temperature-controlled environment with no mirrors, noise or distractions.

Using a slow motion protocol on medical-grade equipment, your muscles will be safely and effectively pushed to help them grow stronger. SuperSlow Zone guarantees you get stronger in just 20 minutes, twice a week. Your instructor charts your progress with a proprietary iPad program so you can see your results. Due to the slow-motion protocol, fans and temperature control, there’s no reason to change or shower—you just move on with your busy day!

Retired Bangor-area lawyer Dick Hall, 71, has been working out at SuperSlow Zone twice a week for over a year. Hall didn’t have any

Linda Pelletier

significant physical issues to work through. His mission was to fi nd an exercise program he could stay with to ward off the negative consequences of the aging process.

“I’ve tried exercising at home on my own and have the typical equipment like most people do,” said Hall. “I just never had the discipline to use it consistently. I also had a gym membership but didn’t get much assistance with the equipment. I would go when I wanted and sometimes there were a lot of people there and I really don’t like crowds. There’s no appointment to adhere to, or the oneon-one attention like I get at SuperSlow Zone. It was too easy to stop going to the gym.”

“I know it’s important to exercise, especially as we get older,” he continued. “The loss of bone mass and atrophy of muscles just happens if we don’t do something to prevent it. I believe I’m reversing that process that had started, or at least slowing it down.

I get a meaningful workout in 20 minutes. I can feel the results, but I also see the progress on paper as well. It gives me a feeling of satisfaction. I feel better when I can go twice a week consistently.

I continue exercising at SuperSlow Zone because I like the oneon-attention, no crowds, results based feedback, and having that appointment makes a difference!”

Linda Pelletier, 63, is mostly retired but still works one day a week. She has been exercising at SuperSlow Zone once a week since the beginning of October. She has been battling bone spurs in her hip and has experienced increasing lower back pain. Due to the chronic pain, her activity level continued to decrease and she was beginning to fi nd everyday tasks more challenging, from making the bed to trudging upstairs.

Pelletier knew she was losing strength and muscle mass, and she knew it would only get worse. She was getting referrals and scheduling appointments with specialists when she first came to SuperSlow Zone. She needed to have the hip evaluated and her breathing was becoming increasingly labored, especially going upstairs. After the consultation, she said, “I have to do something, and this looks like a great place to start. I want to start now!”

SuperSlow Zone created a total-body routine for Pelletier with a focus on hips, thighs and back. “I feel stronger and am not in as much pain on the days I work,” she said. “My legs feel stronger. I noticed a few weeks ago I went upstairs and my breathing was fine! I finally had my appointment for a breathing test and they found no problem. I was really concerned earlier this year because my breathing just seemed to keep getting worse. Exercising here is the only thing I’m doing differently. There’s nothing else I can attribute the improvement to. After only three months of coming here once a week, I feel like I’m making progress!”

Dick Hall

Cindy Self

Cindy Self, 48, an ophthalmologist at Eastern Maine Eye Associates, started her twice-a-week exercise program at SuperSlow Zone less than three months ago. She had previously practiced yoga, taekwondo and running to stay in shape. Amid life changes, a busy career, and spending time with her kids, finding time for it all became a challenge.

“There were two things that were really important to me,” said Self. “Fitting it into my schedule—20 minutes twice a week with no need to change or shower was huge! It makes exercising much more manageable for me. The other piece was it had to work. I can tell by the ‘burn’ that this is an effective workout. It doesn’t take long, but I know I’ve exercised when I’m done. I have had some weakness and slipping in one of my knees that has already shown improvement!”

“I always look forward to my workout, even when I exercise early before heading to work,” she said. “That wasn’t always the case with other types of exercise. I feel like I have more energy now, less fatigued than before when I wasn’t working out at all. Exercising and staying fit has always been important to me and SuperSlow Zone has provided an effective solution that works with my schedule.”

It might be time to set your old ideas about exercise aside. Spend a few minutes today to learn about SuperSlow Zone and its accredited, safe strength-training protocol based on medical research. Then, give it a try with a free sample workout—your body will thank you for it!

SuperSlow Zone is located at 667 Hogan Road in Bangor and has locations nationwide. For more information, visit superslowzone.com/ bangor or call (207) 307-7063.

PAID ADVERTISEMENT FOR SUPERSLOW ZONE

SAVING FOR RETIREMENT

PLAN Ahead CONFUSED ABOUT IRAS, 401KS, ROLLOVERS AND RETIREMENT PLANNING? HERE ARE SOME TIPS WHETHER YOU’RE JUST GETTING STARTED, RECENTLY CHANGED JOBS OR READY TO RETIRE TOMORROW.

KEEP THE MONEY WITH YOUR FORMER EMPLOYER Some employers allow former employers to keep their retirement savings in their plans.

This allows people to avoid early withdrawal penalties and lets them continue to defer paying taxes on retirement savings accounts until they reach retirement age and need to start withdrawing money. Another benefit to keeping money in an employer retirement plan even after you leave the company is it protects you if there are rollover restrictions governing any additional accounts you might have transferred the money into.

Employers who do allow former employees to keep their money in retirement plans likely included certain language in those plans that govern how the account is managed after employees leave the company. For example, former employees may no longer be able to contribute to the plan or take out plan loans. In addition, when the time comes to withdraw money, you may or may not be allowed to make partial withdrawals from accounts linked to former employers. Read the fine print to determine if keeping the plan with a former employer makes the most sense for you.

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U

HOW TO HANDLE THOSE OLD 401(K)S.

BY METRO NEWS SERVICE

PON MAKING THE transition to a new job or retiring, many people are unsure about what to do with their 401(k) or other retirement plans linked to their employer. Handling this transition can be costly, and many people might benefit from the advice of a professional financial advisor to help them navigate these waters without breaking the bank.

Some people may think they’re forced to cash out their retirement accounts when moving on to new companies. But, depending on a person’s age, that’s a potentially costly option that can incur heavy penalties. Fortunately, cashing out is not the only option people have as they try to figure out what to do with their retirement accounts after retiring or moving on to new companies.

ROLLOVER INTO YOUR NEW EMPLOYER’S RETIREMENT PLAN Some people have the option to rollover a 401(k) from a previous employer into their new employer’s plan. But not all companies allow this. If you are allowed to do so, this can make the transition that much easier while still allowing tax-deferred growth on your assets. In addition, if you can rollover into your new employer’s plan, you may be allowed to take out loans based on the amount of your combined plan instead of just loans against new contributions. Rollover and plan loan eligibility should be confirmed with your new employer.

Before rolling over money into your new employer’s plan, confirm your investment options under the new plan. If they pale in comparison to an IRA, you might want to rollover your retirement assets into an IRA that offers more investment options.

ROLLOVER INTO AN IRA Many people look to rollover an old 401(k) into an IRA, as traditional and Roth IRAs may offer a wider variety of investment options than a previous or current employer’s retirement plan. Taxes differ depending on which type of IRA you choose to roll your funds into, so discuss your IRA options with your financial advisor to determine if this is the best way to go.

PHOTO: DEMAERRE/THINKSTOCK

HEALTH & WEALTH

3 TIPS

TO STREEEETCH

RETIREMENT SAVINGS

1

2

3

Many budding retirees plan to travel, relax and enjoy the company of their spouses when they officially stop working. But such plans are only possible if men and women take steps to secure their financial futures in retirement.

According to a recent survey by the personal finance education site MoneyTips.com, roughly one-third of Baby Boomers have no retirement plan. The reason some may have no plan is they have misconceptions about how much money they will need in retirement. Successful retirees understand the steps to take and how to live on a budget.

HAVE A PLAN. Many people simply fail to plan for retirement.

Even men and women who invest in an employer-sponsored retirement program, such as a 401(k), should not make that the only retirement planning they do. Speak with a financial advisor who can help you develop a plan that ensures you don't outlive your assets.

SET REASONABLE GOALS. Retirement nest eggs do not need to be enormous. Many retirees have a net worth of less than $1 million, and many people live comfortably on less than $100,000 annually. Set reasonable goals for your retirement and make sure you meet those goals.

PAY DOWN OR AVOID DEBT WHILE YOU CAN. Retiring with debt is a big risk. Try to eliminate all of your debts before you retire and, once you have, focus your energy on growing your investments and/ or saving money for retirement.

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GETTING FIT

Start (or end) your day at the NONPROFIT SUPPORTS ALL GENDERS, AGES AND FITNESS LEVELS ON THEIR JOURNEY TO BETTER HEALTH.

BY JODI HERSEY

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YMCA

P

ARENTS, GRANDPARENTS, TEENAGERS and youngsters alike all know a few—if not all—of the words to the 1978 disco hit “Y.M.C.A.” by the Village People. The song, which boasts the benefits the Y provides for folks down on their luck, is just as popular today as it was years ago. It’s often heard at sporting events, weddings and karaoke bars, even as the YMCA itself has changed dramatically over the years.

Founded in London, England in 1844, the Young Men’s Christian Association (YMCA) began as a refuge for young men looking to escape the hazards of living on the street. It provided prayer, Bible study, and a place for socialization.

Years later, retired Boston sea captain Thomas Valentine Sullivan, working as a marine missionary, noticed a similar need to create a “home away from home” for sailors and merchants. He opened the first YMCA in the U.S. in Boston in December 1851.

“Historically, [the Y has] evolved from housing young men into what most people considered just a gym and swim,” said Matt Montgomery, Downeast Family YMCA’s marketing director and swim coach.

Today, YMCAs no longer cater to men only, and they certainly offer much more than pools and workout facilities in the communities in which they are located. They offer fitness classes, strength training, rehabilitation, swim lessons, child care services, senior classes, nutritional assessments, and socialization for all ages. Some Ys, like the Old Town-Orono Y, also offer gymnastics, Tae Kwon Do, dance and music lessons.

“There is not a person in this community we cannot serve. It is for every age group,” said Diane Dickerson, Bangor YMCA CEO. “If there is any diversity, it’s here at the YMCA. You’re going to see every ethnicity, religion, color and creed.

Rich, poor, healthy, not healthy, and those that need serious guidance and attention, we serve the full spectrum. And I think it’s spectacular.”

Aimee Thibodeau first joined the Old Town-Orono YMCA on a personal level when she attended college at the University of Maine. She returned when she needed childcare for her daughter, Chloe. Last August she became the Old Town-Orono YMCA’s new marketing and development director.

“I’ve struggled with my weight my whole life. Part of accepting this position at the Y was to get myself back in the gym and healthy again after having two children,” explained Thibodeau. “Shortly after I began this job, the Old TownOrono YMCA formed a team to participate in the Insane Inflatable 5K at the University of Maine. I’m not a runner. I’d never done a 5K and I was very nervous about the thought of running with others. I was the last one from our group to cross the finish line, but I’ve never felt more encouraged. It wasn’t pretty, but I finished the course and when I came across the finish line red-faced and sweaty, I knew I’d be back in the gym the next week, getting ready to run another one.”

PHOTOS: INGRAM PUBLISHING, BOJAN89/THINKSTOCK

HEALTH & WEALTH

NANCY GEROW SMILES AS SHE PARTICIPATES IN AN AQUA JOG CLASS AT THE BANGOR YMCA RECENTLY. PHOTO BY MICKY BEDELL

Nancy Gerow joined the Bangor Y after retiring as secretary Town-Orono and Ellsworth Ys also fi nd ways to invest back into from the Holbrook Middle School. The 74-year-old found an their communities. aquatic fi tness class that not only kept her moving but grew to be“We brought spin bikes, a ping pong table and a foosball table to come like her second family.

Leonard Middle School in Old Town as part of their European Festival,” “So many of us have said without this class, we’d be lost,” she said Thibodeau. “The kids had their own Tour de France on the bikes, said. “Some have been doing it 20 plus years. I’m one of the newbies, and learned about the origins of other sports right before Thanksgiving.” so to speak, but it’s what keeps us going. It’s like an extended family, “We took what was traditionally a triathlon aimed at adults and we come here three days a week, we go out to eat and go to different turned it into a family event. We offered really short distances for 12 functions together.” and under, a middle sprint distance for all ages, and then we had a Montgomery, who’s worked at the Downeast Family Y in Ells- 12 and over event that was a traditional sprint triathlon and we had worth for the past 18 years, also sees the benefi ts his facility pro- a lot of families come,” explained Montgomery. “Just encouraging vides to the health and overall wellbeing of seniors in his area.

YOUNGEST REGISTERED PARTICIPANT IS SIX “Our youngest registered participant is six months old and our oldest is MONTHS OLD AND OUR OLDEST IS 95, SO YOU 95, so you have over 90 years between the ages of people actively engaged HAVE OVER 90 YEARS BETWEEN THE AGES OF PEOPLE ACTIVELY in programs in the pool itself,” said Montgomery. “About five years ago we ENGAGED IN PROGRAMS IN THE POOL ITSELF.” restructured our lobby. We don’t have a large lobby, but we added tables and —MATT MONTGOMERY, DOWNEAST FAMILY YMCA’ chairs and started offering coffee free for members. What we found was that many of our seniors coming in for a cardiac rehab program or an aqua families to come together to do physical activities or social events aerobic program were coming in earlier and staying later because there together is one of the ways we’ve changed in the last 10 years.” was an opportunity to socialize before or after the programs.”

One thing hasn’t changed—it’s still “fun to stay at the YMCA,” as Dickerson said her facility is seeing tremendous growth in child care. the song proclaims, no matter if you stay for one class, one morning, an “We have kids here from six in the morning to six at night. We entire six week session, or as a long-time member. bus them to 15 schools in the region and instead of just watching “It sounds like a cliché, but there really is something for everythem, we have very intentional programming to teach them leader- one,” said Montgomery. “We have the bank president on a treadmill ship, communication skills, confl ict resolution and team building,” next to the person who bags groceries. It really is sort of a snapshot Dickerson explained. of our community; every day people of all ages, abilities and backAs much as the Y has to offer to the public, the Bangor, Old grounds are getting something out of our organization.”

“OUR

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HEALTH & WEALTH

REDUCE YOUR RISK

K S I R r u o Y e Reduc

ST CANCER FREE. EA BR G IN BE TO IS KEY EARLY DETECTION CENTER & PEN BAY MEDICAL

B

WEALTH FROM L GENERAL HOSPTA WALDO COUNTY

REAST CANCER AFFECTS all of us.

It is very likely that you have a friend or family member who has been impacted by the disease, directly or indirectly. The chance of a woman having invasive breast cancer at some point during her life is about 1 in 8 and right now there are over 3.1 million breast cancer survivors in the United States, according to the American Cancer Society. Look around you—someone you see has a mother, a sister, a daughter or a friend that has or has had breast cancer.

It is estimated that in 2017, invasive breast cancer will be diagnosed in 255,180 men and women in the United States (yes, men get breast cancer too). In Maine, it is estimated that there will be 1,350 new cases for

female breast cancer in 2017. The American Cancer Society reports that breast cancer is the second leading cause of cancer death in women, second only to lung cancer.

Leading a healthy lifestyle is one of the keys to reducing your risk, but that alone cannot guarantee a cancer-free life. Breast exams should be part of your healthcare routine, along with screening mammograms.

When found early, breast cancer is more likely to be smaller and is less likely to have spread to other parts of the body. This provides more treatment options and makes it more likely to be curable. Screening mammograms help find breast cancer before any symptoms appear, often times before you can feel it.

Fortunately, Pen Bay Medical Center &

Waldo County General Hospital now offer 3D mammography, which offers an improved cancer detection rate by 41% for more invasive cancers. While the exam itself is no different than a regular digital mammogram, it makes a layered three-dimensional image offering a much more detailed image for the radiologist to review. Please talk to your health care provider about screenings that are most appropriate for you.

For those of you thinking that you can’t afford a mammogram, think again. The Maine Breast and Cervical Health Program will pay for a screening mammogram and/or a clinical breast exam for those with little or no health insurance. For more information, call 1-800-350-5180 and press 1.

249,260

1,310

3.1 MIL

NUMBER OF NEW CASES

NUMBER OF CASES OF INVASIVE

OF FEMALE BREAST CANCER

BREAST CANCER DIAGNOSED IN 2016

IN MAINE LAST YEAR

NUMBER OF BREAST CANCER SURVIVORS IN THE UNITED STATES

SOME USEFUL WEBSITES ARE:

Pen Bay Cancer Care Center: penbayhealthcare.org/centers Waldo County General Hospital Oncology & Infusion Therapy: wcgh.org/hospital-services/oncology MBCHP: maine.gov/dhhs/mecdc/population-health/bcp/index American Cancer Society: cancer.org National Cancer Institute: seer.cancer.gov

PAID ADVERTISEMENT FOR PEN BAY MEDICAL CENTER & WALDO COUNTY GENERAL HOSPITAL

PHOTO: WAVEBREAKMEDIA/THINKSTOCK

TH & SPECIAL TO HE AL

There’s no better feeling than knowing

someone amazing is on your side.

The oncology departments at Pen Bay Medical Center and Waldo County General Hospital have been forming complete circles of care around cancer patients for 66 years combined. We’re right there with you the entire way—in the room, on the phone, minutes not hours away. For surgery, treatment, recovery, education and support, you can count on our team beside you. better. together. penbayhealthcare.org 207-921-8969 | wcgh.org 207-930-2555

HEALTH & WEALTH

NAVAGATING YOUR HSA

Road Map to Your N

AVIGATING HEALTH INSURANCE plans can be confusing. One health insurance product that’s relatively easy to understand is a health savings account, or HSA. This type of account can help account holders save money on the costs associated with their healthcare.

UNDERSTANDING HEALTH SAVINGS ACCOUNTS.

BY METRO NEWS SERVICE

WHAT IS AN HSA? HSAs are like any other savings account, except they can be used for medical, vision and dental expenses. HSAs are tax-advantaged, meaning that income can be deposited into an HSA before it is taxed. HSAs can only be opened and used in conjunction with a high-deductible health insurance plan, or those with a deductible of at least $1,300 for an individual or $2,600 for a family.

HSA DETAILS AND ELIGIBILITY REQUIREMENTS Although HSAs have contribution limits, they’re advantageous in that the savings accumulated can be used to pay for noncovered, qualifi ed medical expenses, such as copays, vision and dental care and even deductibles.

HSAs may be established through an employer-sponsored insurance plan or through a bank or other fi nancial institution. To qualify, a person must be under the age of 65 and have a high-deductible health insurance plan.

WHAT ARE THE ADVANTAGES AND DISADVANTAGES OF HSAS? There are advantages and disadvantages to HSAs. HSA account holders can control how their saved money is spent, and there’s no risk of losing the money at the end of the year because it rolls over. Taxes are not paid on money going into the HSA. In addition, employers can contribute to HSAs, and account holders do not lose their balances when they change jobs.

Disadvantages include the challenge of setting aside money to put into the HSA, especially if fi nances are tight. One who has certain medical situations that are urgent may fi nd that budgeting for an HSA is impractical.

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HSA

PHOTOS: ETERNALCREATIVE, DIGITAL VISION, DUTKO/THINKSTOCK

A RETIREMENT SAVING VEHICLE In addition to the other benefits mentioned, HSAs can be used as a way to invest in retirement. The resource NerdWallet, which offers fi nancial tools and objective advice to help people understand their options and make the best possible decisions, says an HSA is a good retirement savings option, especially for high-income earners who can’t make deductible contributions to a traditional IRA or any contributions to a Roth IRA.

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HEALTH & WEALTH

MAXIMIZE YOUR GYM TIME

Hit the GYM

HOW TO MAXIMIZE YOUR GYM MEMBERSHIP.

BY METRO NEWS SERVICE

R

GET INSIDE THE DOOR. The fi rst step to realizing results is to go to the gym.

Statistics indicate that within a month or two of joining a gym, attendance numbers dwindle even though people continue to pay for memberships when they are not going to the gym. Schedule time at the gym as you would any other activity. If you need motivation to go, enlist a friend to join and get you to attend.

DO SOMETHING YOU LOVE. Gyms cater to so many different workout experiences these days that gymgoers need not worry about getting bored with their fitness routines. Start out with an activity you enjoy doing, or experiment with different activities until you find one that you find enjoyable. You may be allowed to sample classes without paying for a different membership plan, or even just observe outside of the studio door to get a sense of what may interest you.

WORK WITH A TRAINER. Gyms employ personal trainers who can help novices learn the ropes. New members can rely on personal training sessions to familiarize themselves with a gym’s equipment and the proper techniques to employ when using that equipment. Trainers also can play key supportive rolls in members’ workouts, helping to keep clients motivated on those days when the enthusiasm is waning.

VARY YOUR WORKOUTS. Expanding your boundaries is a great way to push your body and maximize your workout. According to Jacob Wilson, Ph.D., certified strength and conditioning specialist and associate editor of the Journal of Strength and Conditioning Research, “... by only doing cardio your metabolism will actually go down, making weight loss more difficult.

Resistance training, however, builds muscle to increase your metabolic rate.” Variety is the spice of life, and it’s also essential to effective workouts.

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SAVE $

AT THE GYM CHECK YOUR INSURANCE PLAN

Many health insurance providers offer gym membership rebates to their customers. If you have never had a gym membership in the past, you may not even know if your provider offers this benefit. Gym membership rebates typically require that policy holders visit their gyms 'X' number of times in a six- or 12-month span (i.e., 50 times in six months or 100 times in 12 months) in order to earn rebates.

A $400 annual rebate on a gym membership that costs $69 per month cuts the yearly cost of that gym membership by nearly 50 percent. If your existing insurance plan does not offer such rebates, speak with your employer about including it when the time comes to renew the insurance offerings in the future.

PHOTOS: LIFEMOMENT, DOLGACHOV, SOLISIMAGES, JUPITERIMAGES/THINKSTOCK

INGING IN THE new year might be about toasting to good fortune and reminiscing with family and friends, but for many people, New Year’s Eve may also be spent thinking about New Year’s resolutions, many of which may focus on getting healthy and fit in the year ahead.

According to CreditDonkey, a fi nancial resource that helps people save money and make savvy fi nancial decisions, the health club industry is valued at around $27 billion in the United States. Globally, health clubs produce close to $75 billion in revenue every year. And that industry appears unlikely to slow down anytime soon, as more and more people are resolving to get healthier.

No one signs up for a membership hoping for mediocre results. Therefore, here is how to get the most out of a gym membership and regular workouts.

HEALTH & WEALTH

ESTATE PLANNING

E Estate PLANNING ADD AN ESTATE PLAN TUNEUP TO YOUR NEW YEAR RESOLUTIONS. SPECIAL TO HEALTH & WEALTH FROM KRISTY HAPWORTH, RUDMAN WINCHELL ATTORNEY

AT HEALTHY. EXERCISE MORE. SAVE MORE and spend less. Enjoy more time with family.

We all make resolutions this time of year. Now that 2017’s begun, consider making one more resolution for the New Year: evaluate and update your estate plan. Giving your estate plan a check-up will have positive benefits for yourself and your loved ones, for both the present and the future.

A properly designed and executed estate plan can protect you and your family in the event of your incapacity or death. If you don’t already have an estate plan, now’s the time to make one. But simply creating an estate plan is not the end of the process—if your estate plan is out of date, you could be missing valuable opportunities to save you and your family money and hardship. If you already have estate planning documents, pull them out, dust them off, and make sure you are still getting the most out of your plan.

Even recently-designed estate plans may need updating. Congress and the Maine legislature are constantly making changes to the laws governing wills, trusts, and taxes, and those changes may negatively impact your estate plan.

And even if your estate plan is still in line with the relevant laws, changes in your life may prompt the need for updating. The likelihood is high that any significant events in your life—things like marriages, births, and relocations—will affect your estate plan. Regular review will ensure that you are protected, regardless of where life takes you.

SO HOW WILL YOU KNOW WHETHER YOU NEED TO UPDATE YOUR ESTATE PLAN? AS YOU REVIEW YOUR DOCUMENTS, ASK YOURSELF THE FOLLOWING QUESTIONS: • At a minimum, do you have a will, a financial power of attorney, and an advance health care directive?

• Have more than five years passed since your documents were last updated?

• Are the agents you designated in your financial power of attorney and advance health care directive still available and willing to serve that role?

Are they still the people you wish to have making decisions for you?

• Does your will reflect your current wishes with regard to the distribution of your property upon your death?

• If you have a living trust, has it been funded properly? Are there assets you should consider adding to the trust?

PHOTOS: IPOPBA, WILLIAM_POTTER/THINKSTOCK

• Have you and your family undergone any significant life changes since your will or trust was last updated? Have you or any of your beneficiaries gotten married or divorced? Have you retired? Do you have any new children or grandchildren? Have any of your beneficiaries suffered a severe injury?

Between changes in the law and changes in your life, your estate plan needs to be monitored to make sure that it is as effective today as it was the day your documents were created. Whether you need to create an estate plan or simply review one, Rudman Winchell and the Maine Elder Law Firm welcome the opportunity to assist you.

Kristy M. Hapworth was born and raised in Burnham, Maine. She graduated summa cum laude from the University of Maine in 2013, where she earned a bachelor’s degree in psychology with a concentration in abnormal psychology. During her time in Orono, she served as president of the school’s Pre-Law Society. She graduated magna cum laude from The University of Maine School of Law in 2016, and was awarded the Gignoux Award for Appellate Advocacy. Her practice areas include estate planning and family law.

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HEALTH & WEALTH

CANCER SCREENINGS

EARLY Detection CANCER SCREENINGS TO CONSIDER FOR MEN.

BY METRO NEWS SERVICE

C

ANCER SCREENINGS play an important role in cancer prevention.

Screenings may not prevent people from getting cancer, but they can detect the presence of cancer before a person begins to experience any signs or symptoms.

Screenings also can help doctors catch cancer before it metastasizes, or spreads, to areas of the body outside the area where it originated.

COLON CANCER Men should begin getting screened for colon cancer at age 50, though those with family histories of colon cancer or other colon issues should begin even earlier, as family history increases a man’s risk of developing colon cancer. Colon cancer screenings may discover a type of growth known as a polyp, which is typically benign and can be removed before it develops into cancer.

BREAST CANCER SIGNS TO CONSIDER FOR WOMEN.

BY METRO NEWS SERVICE

E

VEN WOMEN WHO ARE a picture of health can develop breast cancer, highlighting the importance women must place on recognizing and detecting the symptoms of this often curable disease.

As with many types of cancer, breast cancer is most successfully treated when it is detected early. Over the previous quarter century, death rates for breast cancer have been on the decline, a positive development that Breastcancer.org, a nonprofit organization dedicated to providing reliable, complete and up-to-date information about breast cancer, suggests is a byproduct of the heightened awareness of breast cancer over the last 25 years and the increasing emphasis placed on breast cancer screening. Understanding the symptoms of breast cancer also can help women battle and defeat this potentially deadly disease.

CHANGES IN THE FEELING OF THE BREAST OR NIPPLE: A change in how the breast or nipple feels could be indicative of a larger problem. If the nipple is especially tender and this persists for an extended period of time, exercise caution and discuss this change with your physician. Similarly, if a lump or thickening develops on or near the breast or underarms, speak with your physician.

CHANGES IN APPEARANCE OF THE BREAST: A lump or thickening in the breast may affect the appearance of the breast. Another visible symptom of breast cancer is a change in the

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PHOTOS: MONKEY BUSINESS IMAGES, SAKLAKOVA/THINKSTOCK

LUNG CANCER Screening for lung cancer is most important for men who currently or recently smoked. The United States Preventive Services Task Force recommends annual screening for lung cancer with lowdose computed tomography (LDCT) for men between the ages of 55 and 80 who have a 30 pack-per-year smoking history and currently smoke or have quit within the past

15 years. Screening should be discontinued once a man has not smoked for 15 years or has developed a health problem that substantially limits a man’s life expectancy or his ability or willingness to undergo curative lung surgery.

PROSTATE CANCER The National Cancer Institute notes that prostate cancer is the most common non-skin cancer among men in the United States. Being 50 years of age, black and/or having a brother, son or father who had prostate cancer increase a man’s risk of developing the disease. The NCI notes that screening tests for prostate cancer, which include a digital rectal exam and a prostate-specific antigen test, come with risks, and men should discuss these risks and the potential benefits of prostate cancer screenings before deciding to be screened.

skin texture or an enlargement of pores in the skin of the breast, which may appear similar to dimpling, not unlike an orange peel. Swelling or shrinking of the breast, especially when such symptoms appear on just one breast, may also indicate breast cancer.

CHANGES IN THE APPEARANCE OF THE NIPPLE: A nipple that appears different also may be a sign of breast cancer.

Some women with breast cancer have noticed a nipple turned slightly inward or inverted prior to their breast cancer diagnosis. Skin of the nipple, as well as that of the breast and areola, which is the dark circle of skin around the nipple, may also become red, scaly or swollen when breast cancer is present.

bangordailynews.com

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HEALTH & WEALTH

GIVING BACK

GIVE Back

BEING CHARITABLE WHEN MONEY IS TIGHT.

BY METRO NEWS SERVICE

T

HE TERM "CHARITABLE GIVING" is often associated with financial donations. But charity is not exclusive to donating dollars, and those who want to give back but can’t fit donations into their budgets can explore various ways to make an impact without writing a check.

VOLUNTEERING According to the United States Bureau of Labor Statistics, roughly 63 million people volunteered through or for an organization at least once between September 2014 and September 2015. Up north, the General Social Survey on Giving, Volunteering and Participating from Statistics Canada found that more than four in 10 Canadians ages 15 and older volunteered to some degree in 2013.

Volunteering is a popular and rewarding way to give back to one’s community. Nonprofits and charitable organizations may fall short of meeting their missions if not for the valuable services provided by volunteers, so pitching in can be just as valuable as writing a check. Discuss your personal and professional experience with an organization to find a volunteering opportunity that suits you and your skill set. In addition to charitable organizations, schools, hospitals, libraries, and religious institutions may have volunteering opportunities for those who want to give back.

MEDICAL DONATIONS Donating money or dropping off canned goods at food banks may be the first things many people think of when mulling charitable donations, but medical donations also present a great way to give back. The American Red Cross notes that blood donations help millions of people and a single blood donation can end up helping more than one person. The Red Cross also notes that roughly 36,000 units of red blood cells are needed in the United States alone each day, while nearly 7,000 units of platelets and 10,000 units of plasma are needed daily. Donating blood, plasma or platelets can help save lives, and making such donations does not require substantial commitments of time.

Organ donations also present a great way to give back. The U.S. Department of Health and Human Services notes that an average of 22 people die each day waiting for transplants that cannot take place because of the shortage of organ donors. Many of those deaths may not happen if more people signed up to be organ donors, an act that may be as simple as checking a box on the back of your driver’s license.

Charitable men and women without much room in their budgets to make donations can still make a difference by giving back in other ways.

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PHOTOS: AIRUBON, DOLGACHOV/THINKSTOCK

ITEM DONATIONS Donating time and money may be among the most popular ways to give back, but those are not the only ways to donate to organizations and people in need. Go through your closet and donate clothes you no longer wear. Instead of selling furniture you plan to replace, contact local charitable organizations to see if they would like your furniture, or donate pieces that they can then sell to finance their operations. Some donated items, such as vehicles, may earn donors tax deductions.

HEALTH & WEALTH

INVESTMENT PLANNING

Choose

WISELY

SELECTING INVESTMENTS IN YOUR RETIREMENT ACCOUNTS. SPECIAL TO HEALTH & WEALTH FROM DEIGHAN WEALTH ADVISORS

PHOTO: DOLGACHOV/THINKSTOCK

I

N THIS ARTICLE we will discuss the basics of choosing investments for your retirement account. Plan types include 401(k), 403(b), 457, Simple IRA, Contributory or Rollover IRA or Roth IRA. When most people think of investing they think of stocks and bonds. Stocks, also known as equities, are ownership interests in companies. Bonds, also known as fi xed income, are debt obligations. Both are referred to as securities. Mutual funds and ETFs are “baskets” of these securities, and are the typical investment vehicles used in company retirement accounts and many individual retirement accounts.

In a broad sense, funds that hold equities can be considered the offensive side of the portfolio and fi xed income can be considered the defensive side. This is because equities have historically shown higher returns and higher risk than fi xed income. When you’re young and just entering the workforce, a more offensive (growth focused) portfolio makes sense. The typical growth portfolio will contain roughly 80% equity funds and 20% fi xed income funds. As you move closer to retirement, your risk tolerance decreases because there are fewer years left for you to withstand market volatility in your investments before they will be needed to support you. At this point it makes sense to transition to a more balanced portfolio of, say, 60% equity funds and 40% fi xed income funds. Finally, in retirement, it makes sense to minimize risk and preserve the value of your funds. Thus, many investors move to a more conservative portfolio with enough cash to support a year of living expenses and the balance invested in 40% equities and 60% fi xed income.

Depending on your individual circumstances, your retirement portfolio may be more or less conservative.

There are mutual funds and ETFs to track almost every index and investment objective. If you have limited investment experience, we strongly suggest keeping it simple and selecting equity funds that track indexes in the following categories: large U.S. companies, small U.S. companies, and international companies that include both developed and emerging economies. There are

also many funds that track fi xed income indexes. We recommend allocating the meat of your bond investments to a fund that tracks an aggregate bond index and sprinkling in smaller amounts of higher risk bond funds only as seasoning. This is the defensive side of your portfolio, so it is not the place where you want to take a lot of risk. Proportions of each fund should be determined by your individual risk tolerance and time horizon.

There are several online investing tools that will help you determine appropriate proportions. If your company retirement plan administrator is unable to point you in the right direction, then talking to a knowledgeable financial advisor should help to set you on the right track for a successful retirement.

Most important, it is never too late to start saving. Try to always take full advantage of the free money offered with employer matching. Have a set amount automatically deducted from your paycheck and deposited into your retirement savings, and let your fi nancial freedom fund grow!

Deighan Wealth Advisors is an independent, privately-owned investment advisory firm based in Bangor, Maine. Our team of highly skilled professionals has overlapping expertise in the areas of investment management, financial planning, estates, and trusts. We believe that investors deserve insightful, objective, and unbiased advice. Contact us at (800) 990-1117 or visit our website at www.deighan.com.

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EAT LOCAL

EAT Local T

HE POPULARITY of organic foods and stores that cater to customers who prefer them continues to grow, and that growth has contributed to a growing awareness among shoppers. Many consumers now recognize the impact that food production has on the environment, and that recognition has spurred interest in locally grown foods.

Locally grown foods are those that are grown within your community or a community nearby. Such foods do not need to be shipped hundreds of miles before they ultimately fi nd their way onto your plate, and many people fi nd that contributes to meals that are more fresh than meals made up of foods shipped from afar. But freshness is not the only benefit to purchasing locally grown foods, which pay various dividends for people and the planet.

LOCALLY GROWN FOODS BENEFIT THE ENVIRONMENT. The phrase “fi eld to plate” is signifi cant to consumers who prefer locally grown foods. That phrase refers to the distance food travels from the grower to the plate on your dinner table. Estimates

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vary depending on the source, but advocates of locally grown food suggest that it reduces the fi eld to plate distance by an average of 1,300 miles. That’s a signifi cant feather in locally grown foods’ cap, as the Council on the Environment of New York City notes that it takes 435 fossil-fuel calories to fl y a single fi ve calorie strawberry from California to New York. Buying locally preserves that energy that is used to transport foods from afar.

LOCALLY GROWN FOODS FUEL YOUR LOCAL ECONOMY. In addition to benefitting the environment, locally grown foods stimulate your local economy. Local, independent farmers have largely fallen by the wayside in the 21st century, as industrial agribusinesses have taken over the produce sections in grocery stores across the country. But local, independent farmers are making a comeback, thanks in large part to consumer demand for organic foods. Supporting such farmers who grow their foods locally means you’re putting money back into your own community, a worthwhile effort at a time when so many small communities are struggling economically.

BUYING LOCALLY GROWN FOOD PAYS DIVIDENDS.

BY METRO NEWS SERVICE

BUYING LOCALLY GROWN FOODS CONTRIBUTES TO BIODIVERSITY. According to the United Nations Food and Agriculture Organization, more than 75 percent of agricultural genetic diversity was lost in the 20th century. That’s thanks in large part to industrial agribusinesses that cultivate fruits and vegetables that are bred for fast maturation.

But small, local farms typically grow a wider variety of fruits and vegetables in an effort to extend their growing seasons. That means consumers of locally grown foods have access to more fruits and vegetables, and therefore more flavor.

LOCALLY GROWN FOODS CAN BE MORE NUTRITIOUS. Fruits and vegetables can rapidly lose nutrients once they are harvested. That’s problematic when buying such foods from industrial agribusinesses that need substantial time to get their products from the farm to the shelves at your local grocery chain. But buying from local farmers increases the likelihood that the fruits and vegetables you purchase were just picked and therefore have yet to lose a significant amount of nutrients.

PHOTOS: MARTIN POOLE/THINKSTOCK

HEALTH & WEALTH