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Q: Ive developed a lot of bad eating habits after a summer of barbeques, picnics, and vacations. Now that falls here, I feel like I need to turn myself around again. How can I get back into healthy eating and shed those extra pounds? A: Ups and downs are to be expected when youre trying to replace unhealthy eating habits with healthier choices. Once youve realized this, follow FOUR key steps to get back into it. Start with TWO mental steps: 1. Think positive. Focusing on failure will make you feel like throwing in the towel for good. Remember those things that you do well, and why theyre good for you. 2. Pick your support system. Identify people who are there to listen, and there to give you ideas and encouragement. This might be a friend, family member, or a nutritionist. Follow up with TWO action steps: 3. Do something BIG that symbolizes your healthy lifestyle commitment! Get rid of all the junk food in your cupboards, buy some new running shoes, or join a nutrition program. 4. Make a smaller move something that supports the big step you just took. Try having one full day of eating well, keeping a food journal, or taking a daily walk. Patsy Commisso ROHP, RNCP Call for your FREE smart weight session today (905) 825-3800 www.metaboliccareclinics.com (2501 Third Line at Dundas) (behind Terra Greenhouses, Hwy. #5) 2273 Hwy. #5 905-336-7725 Plus a large selection of rockery and flagstone www.burlingtongardens.ca 1 YardSoil SacsDELIVEREDStarting at$109 (plus taxes& deposit) Top Soil Triple Mix Manure Pebbles Manured Loam Black Loam Mulches Aggregates Grass Seed Top Dresser & Bins for Rent Delivery or Pickup Available w w w .i n si d eH A LT O N .c o m O A K V IL LE B EA V ER Th ur sd ay , S ep te m be r 1, 2 01 1 1 6 Reducing risk will help avoid stock market volatility and declines in the value of your investment port- folio. The solution is to set specific targets and then attempt to achieve those by ensuring you do not take on more risk than absolutely necessary. To help explain how this works, we will look at setting targets that are important when plan- ning for retirement, since it is the prime financial objective for most people over the age of 50 and also for many who are younger. The first target is to determine how much capital you need to accu- mulate by the time you retire. Thats a question we hear a lot. How much money do I need to retire? That depends on sev- eral factors. You need to ask your- self how much cash flow you require every year during retirement. Then you must estimate how long you think you will live, and finally con- sider any retirement income from other sources such as a pension. That will give you an idea of the size of your nest egg needed at retirement. Now you will focus on two more factors. How much money you have now, and how much in additional funds you need to accumulate? That will result in two more targets you need to obtain. Your annual savings rate target; the amount of money you will save each year, and your return target. Your return target measures the annual rate of return you need from your investments to grow your assets suffi- ciently for you to meet your retirement nest egg target. By having a set of written specific goals or targets, you now have some- thing that you can attempt to achieve. More importantly you have something that you can measure on an annual basis. The benefit to you can be peace of mind. With specific and measurable tar- gets you can avoid taking on too much risk. For example, if you can save enough money and already have some money put away for retirement, maybe you can reach your goal with a lower rate of investment return. That means you can have fewer dol- lars invested in equities. This summer has shown us how vola- tile the stock market can be. Decide if you can achieve your target by having some money currently invest- ed in stocks moved into more conserva- tive fixed income investments. There are benefits in addition to peace of mind, as well. After you have compart- mentalized your specific targets, you will be more familiar with how intercon- nected they all are. Let us assume that you want to retire at age 60, but you are risk averse and would prefer having fewer equities in your portfolio. One option is for you to work longer and, therefore, have more time to save and also more years to be financially self- gsufficient durin retirement. Now you can reduce the required tar- get rate of return and shift some of your stocks into lower paying and more con- servative assets like bonds. Alternatively you may decide you can do with less cash flow during retirement and would prefer owning more conserva- tive investments. The retirement process can be better managed if you set targets. Decide how much cash flow you need during retirement. That will allow you calculate the amount of capital you need when you retire. Then set targets for savings each year and determine what return on invest- ments you need to achieve to success- fully meet your objectives. While the goal of calculating your level of investment risk is best achieved with the help of an investment advisor, the result of the process will put you in control of your financial well-being. You will be aware of what has to hap- pen for you to be successful and satisfied with your comfort level for risk. Submitted by Peter Watson, MBA, CFP, R.F.P., CIM, FCSI. In 1991, Peter founded Peter Watson Investments in Oakville. Peter can be reached at 905- 842-2100 or visit the website at www. peterwatsoninvestments.com Avoid risk by setting specific financial targets Dollars & Sense By Peter Watson Speak up! 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