Fighting Zoom Fatigue?
Enjoy this week's edition of the Planner's Beta
Beta (n) - climber's jargon that designates information about a climb This digest's purpose is to share observations, ideas, and treasures found this week which you may also find insightful. Sharing does not mean it's an endorsement. I am endorsing the pursuit of knowledge and exploration.
Fighting Zoom Fatigue
Looking for a less expensive way to feel connected? Phone calls (remember those?) are more effective at helping us feel connected than Zoom meetings. When COVID hit, and Zoom became a household word, many of those seeking to connect with friends and family turned to this new-ish technology. Many of us even began adding a monthly subscription for the service to our spending. The problem? As many researchers now know, Zoom calls lead to stress and anxiety because of the nature of the video call without the benefits of face-to-face interaction. The alternative takes us back, way back, to phone calls. In a research study with nearly 2,000 participants during May of 2020, researchers found that “those who kept in touch with friends and family over the phone reported lower levels of stress and loneliness than those who used newer tools such as Zoom.” One of the reasons for this is the cognitive and emotional demands placed on us by the nature of a video call, including being concerned over appearance and wanting to appear engaged.
Some of the other key takeaways from this article include the following:
Email was seen as helpful in keeping connections for those who were age 49 and over. In contrast, those 29 or younger viewed email as more stressful/less comfortable since this age group often uses email for school or work.
Consider a break from social media. The researchers cited in this article shared that social media use led to stress in unique ways. Social media use, particularly for those already feeling anxious or alone, can make those feelings grow.
If you are used to texting friends and family, consider a phone call here or there. As one of the authors of the study put it, “A lot of people of my generation or younger tend to avoid voice calls in favor of text-based communication. But with the pandemic, they’ve realized that it’s nice to talk on the phone.”
This Month's Financial Planning Item -
Reviewing Your Property and Casualty Insurance Policies
Your property and casualty insurance policies are a vital part of your overall financial plan. It's important to review these policies each year to ensure that you have the coverage you need. If there are gaps, now is the time to implement changes to acquire proper coverage.
This month I encourage clients to review their auto, home, and personal property insurance policies. In this month's financial planning item, we focus on issues to consider when reviewing your policies, including:
Real Estate/Property Insurance
Did you recently buy or sell a primary residence or vacation property? It's important to review this insurance coverage, and perhaps your insurer, to ensure that the policies cover an adequate amount of the property's replacement value.
Have you made substantial improvements to your property, or has the property appreciated significantly in value? You need to be sure that their coverage keeps up with any increases in the property's value.
You should review your collision and comprehensive coverage. Depending upon the age of the vehicle and other factors, you may want to make some adjustments.
Are your children now of driving age? If so, you need to be sure that your children are covered as drivers and that your liability limits are adequate.
Personal Property and Umbrella Insurance
If you own personal property (i.e., antiques, collectibles, or coins) with a value that exceeds the ordinary policy limits, you may need to schedule these items to ensure coverage.
If you need additional liability coverage over and above what your homeowner's policy offers, you may need an umbrella policy.
Here is a comprehensive checklist of the types of issues you should consider when reviewing your property and casualty insurance policies. These policies play a crucial part in your overall financial planning and protect your family's assets from losses.
If you are a current Pursuit Planning and Investments client, securely upload any documents needing review to PreciseFP. We will discuss these items in our next scheduled check-in meeting. Or you may place an appointment on my calendar.
View this 19 point check list to help you organize your thoughts to optimize your property and casualty risk management plan.
Quote of the Week
"We are all born mad. Some remain so." - Samuel Beckett
Have something on your mind? Schedule a free call with Nate.
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