Corb7 International May 8th, 2024 Newsletter

International Business 

Publisher's Note

Entrepreneur & Author
JeffCorbett.com

Recession Proof!

Anyone can overcome economic challenges.    

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Will we have a recession in the near future?   Who knows?  It might, nevertheless, be a good time to take a few preemptive steps as we see inflation moving dramatically higher. 

"Financial planning" is an umbrella term that can be applied to various aspects of money management. Many people associate financial planning with retirement. However, effective financial planning can help people confront today's challenges just as much as it can help them prepare for their golden years.  Taking steps to recession-proof your finances is an important component of financial planning that can help people overcome the stress of living during a downturn.

Here are a few ideas: 

· Build up your savings. A recent poll from the Kaiser Family Foundation found that 45 percent of adults said their mental health had been negatively affected due to stress related to the virus. That poll was conducted in March 2020, shortly after lockdown measures were instituted and the term "social distancing" entered the North American lexicon.  Each person's financial needs are different, but many planners recommend clients have at least six months' worth of expenses in their savings as a cushion to help them get through job loss.

· Pay down debt. Debt, particularly high-interest debt, can compromise your ability to save. A recent survey from Bankrate.com found that 13 percent of Americans admitted that debt was preventing them from saving more money. Pay down debt like credit cards and only make credit card purchases if you have the money, pay the bill in full when it's due.

· Avoid overspending. Many financial planners recommend a 50-30-20 approach to money management. Such an approach advises people to devote 50 percent of their earnings to needs, 30 percent to their wants and 20 percent to savings. Spending more than 30 percent on wants can make it difficult to build up a savings account to levels that can protect you in the event of a recession.

· Expect the unexpected. . If you want to recession-proof your finances, do not take your foot off the gas in regard to insulating yourself from the next recession. No matter how the economy is performing, continue to expect the unexpected and prioritize saving so you have a soft landing awaiting you should the economy again take a sudden turn for the worse.

The timing of recessions is unpredictable, but they are inevitable. Effective financial planning can help anyone overcome the challenges posed by economic downturns. 

For more about my wonderings through Business, Lifestyle, Health, Aging & Travel  
please see my blog:  JeffCorbett.com

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International Business 

Business Psychology

How to Mentally Approach Retirement

Stay active.    

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If asked to describe how they envision retirement, many professionals might reference travel, time spent with grandchildren and various recreational pursuits. Few, if any, would mention cognitive decline. However, cognitive decline poses a significant threat to aging men and women, especially during retirement.

Researchers have long since recognized that certain cognitive abilities begin to decline with advanced age, even among elderly individuals who are healthy. However, despite that decline, the Centers for Disease Control and Prevention notes that dementias like Alzheimer's disease are not an inevitable part of aging. In fact, the CDC estimates that as many as 40 percent of dementia cases may be prevented or delayed. In addition, the CDC reports that it's not uncommon for routine memory, skills and knowledge to stabilize or even improve as the brain ages.

That's good news for retirees who want to spend their post-work life pursuing their passions and hobbies. Individuals also can embrace some strategies to stay mentally sharp in retirement.

· Consider delaying retirement. Even if early retirement is a dream, it might be better to work a little longer than you had planned. A 2021 study published in the journal SSM - Population Health found that postponed retirement is beneficial to cognitive function for all genders, races/ethnicities, educational levels, and professional status. The study reported that individuals who waited until age 67 to retire experienced less cognitive decline than those who retired prior to turning 67.

· Make exercise part of your retirement routine. A lack of structure may seem enticing to individuals who have spent decades working. However, many retirees find that little structure loses it appeal quickly after calling it quits. When creating a new routine in retirement, include regular exercise. According to the Mayo Clinic, studies indicate that people who are physically active are less likely to experience a decline in their mental function. So daily exercise not only gives retirees something to do, but also benefits their brains.

· Enroll in an adult education course. A 2014 study published in the journal JAMA Neurology examined the association between lifetime intellectual enrichment and cognitive decline in the older population. The study's authors found that higher levels of late-life cognitive activity were associated with higher levels of cognition. The study's authors concluded that lifetime intellectual enrichment might delay the onset of cognitive impairment. Retirees can look into adult learning programs at local colleges and universities to see if anything piques their interest.

Retirement can be everything professionals hope it will be, especially for those who make a concerted effort to maintain optimal cognitive function after they call it a career. 

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International Business 

Cross-Border Business

 Why Own a Captive Insurance Company

Lower costs & gain more control. 

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A captive is defined as an insurance company established in an offshore jurisdiction, created and controlled by either a parent company or professional association through which their own risk is insured. Those insured risks are frequently re-insured through a large multinational carrier.

The cost of insurance represents a considerable expense for most businesses. In recent years, premiums have skyrocketed leading many professionals to explore creative cost reduction strategies. One imaginative – yet proven – strategy is the use of wholly-owned subsidiaries to meet insurance needs which can control or even cut expenditures. Captives can be established to self-insure part or all of property loss, product liability, work compensation, malpractice and virtually any other coverage. Consequently, the driving force behind the move to offshore captive insurance extends virtually across all industries including, but not limited to: medical malpractice, workers compensation, manufacturing, financial, energy-related, and real estate developers, just to name a few. Over 350 of the Fortune 500 companies in the United States have insurance captives. As a result, Captive Insurance Companies have become a growing and significant sector of the global insurance industry.

Benefits:
1. Instances when insurance cannot be purchased from commercial insurance companies for a business risk. In many instances companies within an industry form a joint captive insurance company for that reason.

2. In very specific cases, premiums paid to a captive insurance company may be deductible as a business expense for tax purposes according to the Internal Revenue Service. It is important to note that the IRS has established very strict guidelines to qualify for tax benefits and the use of a professional is critical.  The rule of thumb is that the insurance company will need to be adequately capitalized and offer sufficient third party (non-related) insurance to qualify.

3. Insurance can be obtained through the international reinsurance market at a more favorable premium with higher limits of coverage.

4. Investment returns can be obtained directly on its invested capital. 

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International Business

Business Etiquette

The Challenges of Working from Home

by Candace Smith
The Etiquette Blog
Candace Smith Etiquette 


Biography:  Candace Smith, wife of Nobel Prize-Winner Professor Dr. Vernon Smith and owner of the extraordinary blog, “Etiquette for the Business of Life” as featured by BBC, Chicago Tribune and USA Today offers her insights.

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When you work from home, finding balance can feel nearly impossible.  Especially when we hear a lot about the importance of work/life balance and the challenges of achieving it.

Unless you live alone, you probably experience many interruptions during your work time.  Or perhaps you find yourself multi-tasking - juggling work tasks, household tasks, and responding to the questions, requests, and conversations of the people you live with.

Finding any semblance of balance in a work-from-home environment requires courtesy, respect for space and priorities, and a willingness to compromise when needed.

Interruptions

As more and more people telecommute or do freelance work from home, the biggest concern is interruption.  My husband recently shared with me that when he works from home, he feels a need to advocate for quiet work time.  Apparently, not being accustomed to having him home during the day, I unknowingly interrupt him with my cheerful chattiness. 

This is common when family members or roommates keep different schedules.  The person not working at the moment may disrupt the work of the other by playing music or the television loudly, blurting out a question, or entertaining visitors.

Interruptions are bound to happen, but the only way to keep them at a minimum is to establish boundaries and ask that they be respected.

Household Etiquette

One or more household members working from home means that courtesy and compromise must be employed there.  The bottom line is: good etiquette will go a long way!

Some household or home office boundaries to establish may be:

• What spaces are shared?  Does a schedule need to be worked out?
• What’s not shared?  Do you each have separate office spaces?
• When is it okay to interrupt the other person?  When is it okay to walk into the other’s workspace unannounced?
• Is there an understanding of how household responsibilities are shared during working hours? 
• When one of you is “off duty” work-wise, is there agreement on when “home time” is?
• Do you have a user-friendly way of sharing schedule information, one that minimizes the need for "I'm working" reminders?
• Could you build time in your schedule to check up on how things are going for the other person?  A common "lunch hour"?
• If annoyance arises, do you have an agreement to avoid negative or interruptive language?

Using the magic words of “Please,” “Thank you,” “Good luck” “Thumbs up!” “You’re welcome, anytime!” are the validating and encouraging words we sometimes need to hear the most.  While these words are always etiquette-ful, they can be even more meaningful when you work from home and can't be present with others who are also there.

"Work from Home" Still Means "Work"

“Productivity is never an accident.  It is always the result of a commitment to excellence intelligent planning and focused effort. – Paul J. Meyer

When you're at home, the doorbell rings, the dog needs to be walked, children need to be fed, the sink is leaking, the volume of the television is quite loud, and yet you are supposed to be working - and productive.

Each of these distraction factors drive home the need for household courtesy.  Agreements must be made and understood among everyone who lives in your home - even the dog.  Communicating your needs and offering compromises are the best ways to maintain peace in your combined work-home lifestyle.

Frustrations are bound to occur.  Understanding priorities and the importance that each person places on the workloads at hand is vital for minimizing tensions. 

It is possible to be productive in your work, while sharing your home with others.  Asking for respect for your job and the time you give to it, while showing respect for those with whom you live, will bring value to your shared worlds of life and work. 

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International Business

Business Relocation

Urban Adventures:
Preparing Yourself for City Life 

by Morayma MaKay
Corporate Relocation Consultant & Coach
Get-Ready-Set-Move

The freedom to move.  -------

Stepping into the dynamic rhythm of a big city is most definitely a thrilling adventure, but if you're not used to the hustle and bustle it can be something of a culture shock and a little intimidating to start preparing yourself for city life. Never fear though, because we have some simple tips to help you get used to your new chapter in the city! 
 
In this blog post, we'll explore the benefits of relocating to a bustling metropolis, what to expect amidst the urban energy, and practical tips to acclimate seamlessly if you're transitioning from a quieter lifestyle. Ready? Here we go!
 
Benefits of City Living: 

• Endless Opportunities: Big cities are hubs of opportunity. From career advancements to cultural experiences, cities offer a myriad of possibilities for personal and professional growth.
• Diverse Culture: Embrace a melting pot of cultures, cuisines, and experiences. Big cities are known for their diversity, providing a rich tapestry of global influences.
• Entertainment Galore: From theaters and museums to trendy cafes and lively nightlife, cities are a haven for entertainment enthusiasts. Expect a constant buzz of activity.
• Networking Hub: Big cities are networking powerhouses. Connect with professionals, attend industry events, and build a robust network that can open doors to various opportunities. 

  What to Expect:   

• Fast-Paced Lifestyle: Life in a big city moves at a rapid pace. Expect a constant flow of energy, busy streets, and a 24/7 lifestyle that defines urban living.
• Traffic and Commute Challenges: Heavy traffic and longer commutes are part of city life. Prepare for these challenges by exploring public transportation options and alternative routes.
• Higher Cost of Living: Cities often come with a higher cost of living. While salaries may be competitive, budgeting and financial planning become essential aspects of city living.
• Noise and Crowds: City streets are alive with noise and crowds. The urban symphony includes honking horns, street chatter, and the hum of city life.

  Tips for Acclimating:   

• Explore Neighborhoods: Cities are made up of diverse neighborhoods, each with its own character. Explore different areas to find the one that aligns with your preferences and lifestyle.
• Utilize Public Transportation: Public transportation is a lifeline in big cities. Familiarize yourself with the subway, buses, or trams to navigate the city efficiently.
• Embrace Cultural Diversity: Immerse yourself in the city's cultural tapestry. Attend cultural events, festivals, and explore neighborhoods that celebrate diversity.
• Stay Active: City living encourages an active lifestyle. Take advantage of urban parks, fitness classes, and walking trails to stay physically and mentally fit.
• Build a Support System: Cities can be overwhelming, but building a support system is crucial. Attend meetups, join social groups, and connect with locals to establish a sense of community.

 
Relocating to a big city is a journey into a world of endless possibilities, vibrant cultures, and constant motion. Embrace the urban symphony, adapt to the fast-paced lifestyle, and discover the unique opportunities that city living offers. By exploring neighborhoods, utilizing public transportation, and immersing yourself in the cultural diversity, you'll find that the benefits of city living far outweigh the initial challenges. Welcome to the bustling heartbeat of the metropolis...we think you'll love it!

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International Business   

Investment Strategies

Is Stagflation on the Horizon?

Worse than a recession.

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There has been a lot of discussion recently about the possibility of that the world economy could slide into a state of "stagflation."  But what is it and what investments might be best? 

Slow Growth, High Unemployment & Rising Prices.

Stagflation is an economic phenomenon characterized by stagnant economic growth (stagnation) coupled with high inflation and high unemployment.  It's a challenging situation for policymakers because the typical strategies to combat inflation, such as tightening monetary policy, can worsen unemployment, while measures to reduce unemployment, like increasing government spending, can exacerbate inflation. Stagflation was notably experienced in some Western countries, including the United States and the United Kingdom, during the 1970s, largely due to oil price shocks and other structural economic issues.

Stagflation was prevalent among seven major market economies from 1973 to 1982.

Stagflation is not a good reason to completely abandon a sound investment strategy. So, first of all, if it happens don't panic and start selling stocks, bonds or totally change your business objectives.  Should it occur keep in  mind that it will end and a rebound is likely around the corner. 

If you are inclined to take a defensive position then consider diversifying into precious metals, commodities or even real estate. There will still be a need for housing during an economic slowdown. Rental prices usually move with inflation and sometimes outpace it, even when the value of the dollar drops.

Bottom-line look for sectors that are more likely to be insulated against the effects of rising inflation and slowing economic growth.  

Please keep in mind this information should not be considered as financial advice. Investment decisions should be based on individual research and consultation with a qualified financial professional. The value of investments can fluctuate, and past performance is not indicative of future results. Always consider your risk tolerance and financial goals before making investment decisions.  

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Lifestyle  

Fitness, Health & Longevity

How to Live Longer

75 percent of how we age is lifestyle. 

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There are many reasons to get in shape. Weight loss is a prime motivator, as is reversing a negative health effect, such as high cholesterol or increased diabetes risk. Routine exercise also can improve life expectancy.

WebMD says exercise keeps the body and brain healthy. That's why exercise should be an important component of daily life no matter one's age.

Research published in the journal Immune Aging found that how people age is 75 percent lifestyle and only 25 percent genetics, which underscores the importance of the lifestyle choices people make.

Cardio-respiratory fitness

Many health experts say that cardio-respiratory fitness may be just as valuable a metric to determine overall health as blood pressure and lipid levels. People with a high aerobic capacity can deliver oxygen to tissues and cells efficiently to fuel exercise, according to data recently published in the journal Aging & Disease. In a study involving 11,335 women, researchers compared V02 max, also known as aerobic capacity, in women with mortality data. Women who were fit from a cardiovascular perspective had a lower death rate from all causes, irrespective of the women's weight.

Manage stress and mood

Exercise has direct stress-busting benefits that can promote longevity. The Mayo Clinic says physical activity can increase the production of endorphins, which are the body's feel-good neurotransmitters. In addition, exercise can imitate the effects of stress, helping the body adjust its flight or fight response accordingly, and help them cope with mildly stressful situations. While engaged in exercise, people may forget about their problems as they are focused on the activity at hand.

Improve bone health

Strength training and physical activity can stave off the effects of frailty and osteoporosis, which affects bone strength. A study published in the Journal of Internal Medicine in 2017 found that hip fractures are associated with diminished quality of life and survival among the elderly. One in three adults aged 50 and over dies within 12 months of suffering a hip fracture, and older adults have a five- to eight-times greater risk of dying within three months following a hip fracture. Building muscle strength, balance and bone density through exercise can reduce falls and frailty, helping to prevent fracture-related health risks.

Addresses sarcopenia

The health and wellness resource Healthline defines sarcopenia as the loss of muscle mass specifically related to aging. Doctors once considered this muscle loss inevitable, and it can affect stamina and lead to weakness. However, new indications suggest that exercise is the main treatment regimen for sarcopenia, particularly resistance training. This is designed to improve muscle strength and help balance hormone levels by turning protein into energy for older adults.

These are just some of the ways exercise can help older adults live longer, healthier lives

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Lifestyle  

Spirits & Cuisine

The Best Cake for Mother's Day!

"Thank you, Pittsburgh, for the greatest cake America has ever made."
- Huffington Post  

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For 38 bucks plus shipping, their “Burnt Almond Travel Torte” may just be the best pastry you have ever ordered. All we can say is … WOW! Light, fluffy and yet crunchy, this torte blew us away, and we do not have a big sweet tooth.

Prantl’s German Bakery has been located in the upscale Shadyside section of Pittsburgh for over 100 years. It is not cheap but in our opinion very worth it. Give it a try. If you order now it will likely be at your front door by May 8th which is Mother's Day!

Click Here to Visit Site   

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Lifestyle 

Leisure

Mother's Day Ideas

    This Sunday is Mother's Day in the U.S..   

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The unconditional love and undying patience moms exhibit as they raise their children is worthy of more than just a single day of appreciation in May. Moms do a lot for their families, and though that's something to celebrate every day, Mother's Day merits upping the ante in regard to showing Mom how much she's loved and appreciated.

This year, families can work together to ensure this Mother's Day is a day for Mom to relax and bask in all the extra attention she deserves.

· Serve breakfast in bed. Mom might be on breakfast detail on hectic weekday mornings, but Mother's Day marks the perfect time for spouses and kids to take over those responsibilities. This year, keep the cereal in the pantry and go the extra mile by preparing a homemade breakfast and serving it to Mom in bed. Present the meal with a small bouquet of flowers and some reading material and then let Mom eat in peace and quiet if she so prefers.

· Turn the en suite into a spa. Nothing complements a relaxing breakfast in bed better than a subsequent dip in Mom's own private spa. Transform the en suite or another bathroom into Mom's personal soaking space. Clean the bathtub, light some candles around the tub and bathroom, turn on some relaxing music, dim the lights, and then invite Mom in to soak in a freshly drawn hot bubble bath.

· Keep Mom out of the kitchen. Keep the relaxing vibe going by making sure Mom doesn't have to lift a finger in the kitchen. Make sure all the dishes are washed before Mom comes downstairs for the day and let her know you've already ordered lunch from a local restaurant. Even if Mom loves to cook, a day off from kitchen detail can make Mother's Day that much more relaxing.

· Book some time in the great outdoors. If the weather allows, visit a nearby park as a family and go for a walk. Nature has its own way of helping people relax, so some time outdoors in the spring air can keep the peaceful vibe going into the afternoon. If the family includes young children, choose a park with a playground so Mom can relax and watch the kids play from a nearby bench.

· Book a dinner reservation. It might require some advance booking, as Mother's Day reservations can be hard to come by, but a night at Mom's favorite restaurant can be the perfect conclusion to a relaxing day. If Mom's more of a homebody, whip up a homemade meal and let Mom relax with a glass of wine as you prepare a feast.

Mother's Day is the perfect time to plan a day of relaxation for mothers who do so much for their families throughout the year. Some simple planning can ensure Mom gets the R&R she deserves

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Lifestyle

Travel

How to Avoid Travel Scams

Protect your vacation from disaster.  

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Traveling should be fun.  If you are planning to travel either locally or internationally, scams can occur and if large enough they can ruin your plans.  Here are a few scams to be aware of while traveling this summer.   

Cab Scam - Know the going rate for cab rides and how to identify licensed providers especially when traveling abroad. Thus, avoid being overcharged by a disreputable cab driver or having your credit or debit card information stolen. London Taxi Scam 

Free Stuff – this is very common in Europe. The perpetrator places a bracelet on your wrist or a hat on your head and then insists you pay for the item. When you refuse, they attempt to embarrass you by acting out. A quick solution is just by removing the item and walking away. Free Stuff Scam 

Rental Scam - This occurs when you rent a car or a bike. When you return the vehicle, the merchant insists you pay for damages. This is an easy fix by always taking pictures of the car or bike before taking possession and making sure the merchant sees you doing so.  

Pick Pockets – This can often occur when you are walking down the street and someone bumps into you and spills something on your clothes. While helping you clean up they proceed to pick your pocket.   Europe Pick Pockets  

Here are a few more:  

10 Tourist Scams to Beware - AARP

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Business Services

Business Services

Corb7 International, Inc.

Think Seven Continents, Think a World of Opportunity!



 

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A Swiss Trust Company is a unique structure that allows discerning families and entrepreneurs to obtain Privacy, Asset Protection, or operate as a European Profit Center.   Asthe holder of a controlling interest in a trust company you may manage the assets of your family members. If you wish to manage funds of unrelated third parties, then the acquisition of Private Swiss Trust Company will be your foundational piece to adding Swiss licensing. No other business tool is like it, offering you the capability to conduct almost limitless transactions through a prestigious European financial center with the assistance of highly regarded professionals.  

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Call +1-310-415-3545 
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