Embracing A Digital Detox
Technology has become such an integral part of life that it may be hard to imagine functioning without it. Beyond work, people depend on technological devices for information, communication, and entertainment. However, constant attachment to these devices can have harmful effects on your mental health. To combat these issues, you may consider a digital detox. The National Institutes of Health defines “digital detox” as a disconnection from devices or social media for a defined duration.
A survey by the American Psychological Association (APA) found that constant digital connectivity is linked to higher stress levels, with nearly 1 in 5 (18%) adults identifying technology use as a major stressor in their lives.
This article explores the effects of heavy technology use on mental health and offers practical tips for effective screen timemanagement with digital detoxing.
The Impact of Technology on Mental Health
Many people are hooked on tech gadgets for a reason. Checking these devices stimulates the brain’s reward system, causing the body to release dopamine, the pleasure hormone. However, these pleasurable activities can become addictive. Excessive screen time has also been linked to mood swings, suicidal tendencies, and increased stress and anxiety.
Studies suggest that excessive use of digital devices can have detrimental effects on mental health. For example, checking social media in bed at night has been found to increase the likelihood of anxiety and insomnia. Research also suggests that frequent technology use can lead to feelings of isolation, difficulty focusing, tech addiction and slower brain development.
Consider unplugging if you’re experiencing any of the following symptoms:
- Increased anxiety
- Increased anger or irritability
- Depression
- Poor sleep quality
- Feelings of insecurity
- Difficulty concentrating
- Dependence on validation from social media
- Fear of missing out
Benefits of a Digital Detox
Taking a break from digital devices is crucial to maintain balance and overall well-being. It helps reduce stress and improvessleep quality. When you step away from technology, you become fully present for yourself and for others, allowing for moremeaningful social connections. Furthermore, digital detoxing has significant mental health benefits. Studies show that peoplewho refrained from social media reported lower stress levels and improved self-image. Additionally, taking a technologytimeout allows you to be mindful of your online habits and form healthier routines, ultimately leading to higher productivity.
Simple Strategies for a Digital Detox
The APA survey also revealed that while 65% of Americans agree that occasionally unplugging or taking a digital detox isimportant for mental health, only 28% actually do so. Begin your digital detox by determining which behaviors you’d like toaddress and creating a plan that works for you. Try these strategies for an effective digital detox:
- Turn off notifications. Notifications are distracting and can hinder productivity. Consider turning off as many as you can to minimize interruptions.
- Use digital detox tools. Plenty of devices have built-in tools that can silence notifications or disable apps for a certain period. Research shows that those who use digital detox tools (e.g., iOS Screen Time or Google Play’s Digital Wellbeing)are less apt to use their smartphones compulsively and, thus, more likely to avoid the negative effects of social media.
- Start your day tech-free. Many people pick up their phones and start scrolling when they wake up, but Stanford Lifestyle Medicine Program experts say this behavior activates the fight-or-flight response. This not only creates a sense of anxiety but also conditions the brain to be more hypervigilant. Instead, use the first hour of the day for activities such as exercising, spending time outside or preparing a healthy breakfast. The goal is to create a morning routine that sets a positive tone for the day and supports brain health.
- Take periodic breaks from technology. Eliminating the use of all digital devices may not be realistic, especially if you use them for work. Instead, set limits for how much time you spend on social media each day or designate certain times for phone use. You can also consider ways to make small changes, such as chatting with someone face-to-face rather than using your phone.
- Create gadget-free zones. Designate specific areas in your home, such as dining rooms and bedrooms, where gadgets are not allowed. This allows you to be more present and encourages tech-free activities, such as baking, reading, doing crafts, and playing cards or board games.
- Reach out for support. Family and friends can offer emotional support during your digital detox. They can hold you accountable and keep you motivated when you’re struggling to stick to your goals.
Conclusion
While technological devices aren’t inherently harmful, overuse can negatively affect your physical and mental well-being. Witha digital detox, you can break unhealthy habits and embrace more balanced, healthier alternatives.
Contact a mental health professional for further guidance.
5 Forces Driving Commercial Auto Costs
Over the past decade, auto insurance rates have increased steadily, well exceeding the rate of inflation over the same period. But what’s driving this upward trend? Explore factors that have significantly impacted the rates for commercial auto.
- Bodily injury loss costs
In the five-year period from 2018 to 2022, auto severity has increased a substantial 40% even as frequency has declined.1 Causes include an increase in deadly accidents, rising verdicts in legal cases and medical cost inflation. In fact, the latter is expected to grow 7% in 2024, up from 6.0% in 2023 and 5.5% in 2022.2 - Attorney involvement
With attorneys actively pursuing auto accident business, more claimants now have legal representation. These claims see higher rates of expenditures for medical procedures and treatment.3 A complete fleet management program can help reduce your exposure. - Distractions and impairment
Distractions behind the wheel, from vehicle infotainment systems and mobile devices to driving under the influence, can lead to significant risks: 30% of companies surveyed reported that they have employees who have been involved in crashes due to mobile phone distraction, and deaths due to preventable crashes are up 18% versus pre-pandemic levels. - Inexperienced drivers
Resignations and retirements are leading to a shortage of commercial operators, increasing the chance that less experienced replacement drivers are behind the wheel. Operators in new vehicles and covering new routes can also contribute to an increase in accident rates. - Vehicle repair and replacement costs
Autos have become more expensive to insure and repair. Newer vehicles are outfitted with advanced materials and technology designed to make driving more comfortable and safer. When these vehicles are involved in an accident, costs can be high, and labor shortages and inflation have only exacerbated the issue. In fact, motor vehicle parts and equipment costs have increased almost 24% since September 2019.5 Meanwhile, used car prices are still up almost 47.9% in 2023 compared to the average from 2015 to 2019, despite recent softening.6 This directly impacts the cost of claims in the event of a total loss. Finally, rising auto thefts are further contributing to increased claim costs.
Travelers 5 Forces Driving Commercial Auto Insurance Costs
Sources
1 LexisNexis Risk Solutions Auto Insurance Trends Report2 Health Research Institute3 Attorney Involvement Keeps Claims Soaring (June 2023, The Institutes)
4 Travelers 2023 Risk Index – Distracted Driving
5 Auto Insurance: The Uncertain Road Ahead (2023, APCIA)6 Edmunds Used Vehicle Report (Q3 2023)
Early Retirement Checklist
If you’ve ever yearned for an early retirement, you’re not alone.
A small but growing contingent of working Americans have made it their mission to eliminate paycheck dependency well ahead of the traditional age of retirement.
More than one-third of Gen Zers, millennials, and GenXers said they plan to retire before age 65, according to the most recent research from GOBankingRates. Men were most likely (32 percent) to express confidence in an early exit, versus 25 percent of women.1
The mostly millennial-led FIRE community, which stands for “financial independence, retire early,” is also gaining traction on social media with 26,000 followers on Facebook alone. Many proudly declare that they plan to exit the workforce in their early 40s.
But planning to retire early and following through are two different things.
To start with, you must carefully consider:
- Your reason for wanting to retire early
- Health insurance coverage
- Physical and emotional wellness
Explore your reason
FIRE aficionados should be sure they have a clear vision of what it is they hope to achieve by retiring early. Is it to volunteer more, travel the world, play a more active role in a nonprofit you support? The better defined your plan, the more likely you are to meet your expectations.
If it’s a better work-life balance you seek, try changing employers or using your work experience to shift gears into a more forgiving industry.
Indeed, an early retirement means different things to different people. Some view it as a total departure from the workforce, which requires significant savings depending on the age at which they retire. Others define it as having enough personal savings set aside to quit their day job and start a home-based business, do part-time consulting, or pursue a more meaningful (but lower paying) job.
A retirement plan that builds in flexibility and allows you to supplement your savings as needed can help you sleep easier at night.
How much I need to retire early?
It goes without saying that you can’t quit work until you’ve got enough saved, but just how much do you need? That depends on your expenses, your age, and your health insurance coverage.
It may help to segregate your savings goal into two distinct phases:
- The money you will need available to cover the bills before you reach the age of Medicare and Social Security eligibility.
- The money you need saved in your tax-deferred retirement accounts (401(k)s and IRAs) to provide for your needs after you reach age 59-1/2.
Remember, you can’t start claiming Social Security until age 62 at the earliest, and many retirees delay benefits until at least their full retirement age at 67 to permanently augment the size of their monthly benefit.
Similarly, you generally can’t withdraw money from your tax-deferred retirement accounts such as your traditional Individual Retirement Account or 401(k) until age 59-1/2 without incurring taxes, plus a hefty 10 percent penalty.4,5
That means you’ll need enough saved to get you over the hump until your retirement accounts and Social Security become accessible.
Be sure to factor in projected expenses, such as college tuition costs for your kids or a wedding for your child, if you plan to chip in.
A 2020 survey by the AARP and National Alliance for Caregiving found 53 million Americans had provided unpaid care to an adult with health or functional needs.6 The average family caregiver spends roughly $7,2000 per year, or nearly 20 percent of their annual income, on out-of-pocket costs, according to AARP estimates.
Expect the unexpected
An oversized emergency fund of at least a year’s worth of living expenses is a must for early retirees, creating a buffer for years when the stock market may be limping along or a medical expense crops up.
Saving enough money and projecting your living expenses accurately is no easy task. Perhaps that explains why less than half (47 percent) of the higher income respondents to MassMutual’s survey said they were confident in their ability to retire at their intended age.
It helps to work with a trusted professional who understands your financial goals and can help you solve for variables, including whether your house will be paid off, tax efficiency, the effects of inflation (which erode purchasing power), and whether the numbers only work if you move to a more tax-friendly state with a lower cost of living.
Think, too, about your safety net in case your early retirement plan doesn’t work.
Consider, for example, whether you should budget for homeowners or renters insurance, whether you will carry life insurance, and how you will ride out Wall Street’s inevitable bear markets. Will you be able to go back to work, if needed, to generate some supplemental income?
Healthcare coverage
The fly in the ointment for many FIRE fans is healthcare coverage. You aren’t eligible for Medicare federal health insurance until age 65, so unless your spouse plans to continue working and can cover you on his or her health plan, you’ll need to factor the costs of private insurance into your budget.
Depending on the size of your family, private coverage can set you back several thousand dollars a month.
During the accumulation phase, while you are still working, it may help to select a high deductible health plan with a health savings account (HSA) component, if available through your employer.
According to the Fidelity Retiree Health Care Cost Estimate, a 65-year-old individual who is covered by Medicare and retires this year will need roughly $165,000 in today’s dollars for out-of-pocket medical expenses throughout retirement, not including any costs associated with long-term care.
Your physical and emotional well-being
Lastly, spend some time planning for your emotional and physical well-being. Will you miss the social interaction of a work environment? Does your spouse support your goal of an early retirement? Will the workweek feel lonely if most of your friends and family are still doing the 9 to 5 grind?
Making the switch from collecting a paycheck to living off your savings is a challenging task at any age. For those who intend to retire early, however, it’s all the more crucial to plan ahead — and consider all options — so they can make the transition to financial independence with confidence.
Provided by Matthew Clayson, courtesy of Massachusetts Mutual Life Insurance Company (MassMutual). CA Insurance License # 0I01304
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