Balanced Living
CDC Says “Take 3” Steps To Fight the Flu
Flu is a serious contagious disease. Each year in the United States, on average, more than 200,000 people are hospitalized and 36,000 people die from seasonal flu complications. This flu season could be worse. There is a new and very different flu virus spreading worldwide among people called novel or new H1N1 flu. This virus may cause more illness or more severe illness than usual.
The Centers for Disease Control and Prevention (CDC) urges you to take the following actions to protect yourself and others from influenza (the flu):
Take time to get a flu vaccine.
- CDC recommends a yearly seasonal flu vaccine as the first and most important step in protecting against seasonal influenza.
- While there are many different flu viruses, the seasonal flu vaccine protects against the three seasonal viruses that research suggests will be most common.
- Vaccination is especially important for people at high risk of serious flu complications, including young children, pregnant women, people with chronic health conditions like asthma, diabetes, or heart and lung disease, and people 65 years and older.
- Seasonal flu vaccine is also important for health care workers and other people who live with or care for high risk people to prevent giving the flu to those at high risk.
- A seasonal vaccine will not protect you against novel H1N1.
- A new vaccine against novel H1N1 is being produced and will be available in the coming months as an option for prevention of novel H1N1 infection.
- People at greatest risk for novel H1N1 infection include children, pregnant women, and people with chronic health conditions like asthma, diabetes, or heart and lung disease.
Take everyday preventive actions.
- Cover your nose and mouth with a tissue when you cough or sneeze. Throw the tissue in the trash after you use it.
- Wash your hands often with soap and water, especially after you cough or sneeze. Alcoholbased hand cleaners are also effective.
- Avoid touching your eyes, nose, or mouth. Germs spread this way.
- Try to avoid close contact with sick people.
- If you are sick with flu-like illness, CDC recommends that you stay home for at least 24 hours after your fever is gone except to get medical care or for other necessities. (Your fever should be gone without the use of a feverreducing medicine.) Keep away from others as much as possible. This is to keep from making others sick.
- Visit the CDC website to find out what to do if you get sick with the flu and how to care for someone at home who is sick with the flu.
Take flu antiviral drugs if your doctor recommends them.
- If you get seasonal or novel H1N1 flu, antiviral drugs can treat the flu.
- Antiviral drugs are prescription medicines (pills, liquid, or an inhaled powder) that fight against the flu by keeping flu viruses from reproducing in your body.
- Antiviral drugs can make your illness milder and make you feel better faster. They may also prevent serious flu complications.
- Antiviral drugs are not sold over-the-counter and are different from antibiotics.
- Antiviral drugs may be especially important for people who are very sick (hospitalized) or people who are sick with the flu and who are at increased risk of serious flu complications, such as pregnant women, young children, and those with chronic health conditions.
- For treatment, antiviral drugs work best if started within the first 2 days of symptoms.
- Flu-like symptoms include fever (usually high), headache, extreme tiredness, dry cough, sore throat, runny or stuffy nose, muscle aches, and sometimes diarrhea and vomiting. The above information is provided courtesy of the CDC. You may check the CDC flu site for up to the date information about H1N1 and seasonal influenza.
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Alternatives to Selling: Benefits to Becoming a Landlord
Thinking about selling that extra piece of residential real property? Think again. There may be more value to holding onto the property and renting it out than you realize. It's worth evaluating such potential benefits as rental income, tax deductions, property appreciation, and being your own boss -- before you put out the "For Sale" sign.
Rental Income Cash Flow
Ideally, you want a rental to produce a positive annual cash flow. Here's how to determine the likelihood of achieving that:
- Determine the likely rent you'll receive. To figure out whether this is possible, start by determining how much your property would rent for. Check local listings for properties of a similar size and quality to yours, ideally within the same neighborhood. You may need to call some landlords or visit rentals for details.
- Factor in "vacancy" time. Don't count on receiving rental income for 12 months of every the year. Even if your property is in high demand, transition time between tenants can take a month or two. Nationwide, the vacancy rate runs around 10%, but this varies widely between urban and rural rentals, different regions of the country, and even by neighborhood or type of house. Ask your local reference librarian or real estate broker about your area's vacancy rates.
- Subtract property expenses. Your rental income will not be pure profit. Factor in your projected property taxes, mortgage payments (if any), insurance, utilities, repair and maintenance costs, and if you don't wish to spend your own time dealing with tenants, property management fees (approximately 8% to 10% of the rental income). Maintenance costs can be particularly high if your house is old or you've put off major repairs such as replacing the roof or furnace. As a landlord, you'll be responsible for keeping the property in habitable condition.
- Calculate projected profit. To get your projected profit, subtract expected vacancies and likely expenses from the annual projected rent. If it looks like you'll come out $1,200 to $2,400 ahead each year ($100 to $200 each month), you're doing well by industry standards. If you'll only be breaking even, or will lose money by renting, it may still be worth it if you're likely to earn high profits by waiting to sell.
Tax Deductions
The tax code is full of deductions for landlords. Here are some of the more significant tax deductions available to small residential landlords:
- Interest. Often a landlord's biggest deduction, this includes mortgage interest payments on loans to buy or improve rental property. It also includes interest on credit cards for goods or services related to the rental activity.
- Depreciation. You can deduct the value of your rental house (but not the land) over a number of years (27.5 years for residential rentals).
- Repairs. The cost of repairs to rental property (repainting, fixing leaks, plastering, fixing broken windows) is fully deductible in the year in which you pay for them.
- Local and long distance travel. Landlords can deduct travel expenses related to their rental activity. The IRS scrutinizes these deductions, however, so learn the rules and keep good records.
- Home office. Landlords can deduct their home office expenses, provided they meet certain requirements.
- "Net loss." Some landlords can claim so many deductions that it more than offsets all their rental income, resulting in what's known as a "net loss." This is especially common among landlords who don't own many properties -- particularly in their first year or two, when they tend to charge lower rents. Ending up with a net loss from your rental activities isn't a bad thing, though. Subject to certain restrictions known as the passive loss and at-risk rules, you may be able to deduct this loss from any nonrental income you have, such as a salary.
Being Your Own Boss
Some people make their living by buying, renting out, and ultimately selling real estate. If you only own one property other than your primary residence, you're not yet one of these big-time real estate investors -- but will get a taste of that lifestyle. Some people love the independence, and the chance to put in a little sweat and creativity in search of higher returns.
If, on the other hand, you've got your hands full with other projects, don't have the time or inclination to learn the landlord/tenant laws, and aren't ready for regular dealings with tenants, contractors, and local officials, being a landlord may not be for you.
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How Can I Break Out of a Rut?
Taking any of the following small steps can lead to big changes in your life:
Career Changes
Learn a new job skill. Pick something you have always wanted to do, such as learning a new software application. Take a class at a community college or through your company training program.
Earn that college degree. Study a course catalog to determine what it takes to get started. Or, earn the certification given by the professional association in your field. Inform your supervisor and human resources director of your goal.
Subscribe to a professional or career journal in your field. If you already subscribe to one, contribute an article or a letter to the editor.
Find a mentor. Choose a successful person in your field who can teach you nuances you may not learn in a class or on the job.
Personal Development
Reduce the amount of time you spend watching television by an hour a day. Use the extra time for something special, such as reading a book, taking a class, visiting a friend, or pursuing a hobby.
Initiate a family project, such as planning your next vacation or planting a backyard garden.
Fulfill a fantasy. For example, take tap-dancing lessons, perform at an "open-mic" club, or join a neighborhood chess club or baseball team.
Better Health
Take a walk. Use your lunch break to explore the neighborhood near your workplace, or use the weekend to visit local parks and scenic areas on foot.
Vary your workout. Add new challenges by making your workout more interesting, not longer or harder. Alternate activities that complement each other, such as swimming and cycling or aerobic dance and strength training.
Explore a new cuisine. Sample local ethnic restaurants. Learn to make low-fat versions of your favorite dishes.
Take a healthful vacation. Attend a sports camp or sign up for a bike tour of a national park.
At Leisure
Play tourist in your own town. Check out a guidebook or ask your visitors bureau for information on local tourist attractions, walking tours, and events.
Take your camera with you on daily activities. Look for scenes that would make interesting pictures. It will give you a different eye on your world.
Write a letter to someone you haven't heard from in a while. It might revive a friendship. Writing the letter can also help you clarify your thoughts about your life and work.
Family and Community
Ask your children, spouse, or friends to suggest their favorite things to do, then join in, enthusiastically.
Volunteer at a nearby hospital, library, or theater group. Start by committing yourself to a single event or project. If you enjoy the work, you can build a long-term relationship.
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