Money is an integral part of the world. Since it is such an important aspect, it would do well to know more about it, but many people are lost in the terminology that comes along with finance. I really didn’t know what it was all about, nor was I concerned about it because I figured I wouldn’t have to worry about it for another few years. However, the least we could do is know the terminology so that when the time comes to put it into use or it comes up on the news, we know what they are talking about. John Oliver is good at presenting an issue, explaining why it should concern us, and telling us what can be done about it so we can help ourselves. The review on U.S Pirg over the John Oliver retirement episode, was very informative and was able to walk me through the issues people of retirement age face when being taken advantage by non-fiduciary brokers. They are not told what exactly it is they are investing in and usually what the broker does invest their client’s money in, tends to benefit him/her rather than the clients, gaining commission and splurging. Terms that are important to know are:
- Fiduciary rule: legal term for a broad group of professionals who are required to put customers’ interests first. They cannot accept compensation or payments that would create a conflict of interest (Lee).
- Hedge funds: highly active funds with very high costs
- Index funds: A list of stocks are bought and you receive the average return for that class of stock from that particular index you chose.
- Best Interest Contract Exemption (BICE): a full disclosure contract under the fiduciary rule (Tucker). Ensures that investors know exactly what it is they are investing in.
Lee, K. (2016, June 14). Blog. Retrieved November 09, 2017, from https://uspirg.org/blogs/blog/usp/last-week-tonight-john-oliver-retirement-industry-minefield-here%e2%80%99s-answer
Tucker, P. (n.d.). 4 Arguments Against the Fiduciary Rule Debunked. Retrieved November 09, 2017, from http://www.truemeasureadvisors.com/2016/04/20/20164145-argument-against-the-fiduciary-rule-debunked/
When reading the articles listed on the Food Matters page, there was a couple of things that were new to me. First, even if avoiding desserts for the purpose of not consuming as much sugar isn’t really helping. In fact, when reading the article “Hidden in Plain Sight” under the sugar science website, sugar is added to many things that are packaged anyway. Certain products like bread, savory foods, and pasta sauce are an example provided. Also, when it comes to eating healthy, there are added sugars to items like yogurt, energy bars, and even ketchup. Yogurt is quite surprising since it is usually a snack that people eat to avoid other junk food and energy bars are usually for those who want to lose weight and use them to avoid eating other unhealthy snacks. Looking at this information is concerning because when it comes to eating right, I need to know what to get. I need to be able to trust the labels and can pass this knowledge to others if they want to eat healthier as well. The way this concern could affect people’s policy decisions is some could have a craving for sugar more than others. In this case, this would affect their diet and would interfere with trying to eat healthier. I think if I were to share this information with others who are less informed, they would probably be shocked by what I’ve learned. I would hope they can process this knowledge and possibly change their way of eating and continue spreading the news they learned too.
Growing up, I remember always hearing “Everything is fine in moderation”, and being a kid I just understood that as having limits on things like fried food, soda, candy, etc however, being a child, I did wanted to exceed those limits. Now that I am adult, I think that I value moderation a bit more considering how many more food additions there are to my diet as I am a vegetarian and that can go wrong very quickly. This is where I feel I fit in to the section of “not very moderate food that feels moderate”.
When I had first decided to become a vegetarian a few years ago, I justified all the high carbohydrate food items that I ate because I was a vegetarian so I could eat everything just without the meat. I was a college student at the time so not buying meat was easy for my budget but so was buying the cheaper, unhealthy foods. To elaborate, I ate a lot of pasta, ramen, potatoes, bread, veggies, etc. because that was all I thought I could eat being a vegetarian. Through the year of getting more accustomed to the lack of meat (and protein for that matter), I realized that I was consuming a lot of foods that were not exactly healthy for me. I justified eating all of these under the idea that it was In moderation and that there was no meat in the meal. Some weeks were better than others – meaning there were more veggies in dishes than there was just a large bowl of pasta.
I know that I am not the only one who is guilty of misusing the term moderation – even in the article, they use the example of a glass of wine or two or three every night was okay but in reality, it is not or when someone eats only salads and water for a week straight and then treats themselves to a pizza and a few beers once Saturday comes around. When you eat a pretty consistent diet, your body gets used to it and is used to the nutrients that come from those foods but if you are consistent only for a few days and then add someone drastic to it (like a pizza and several drinks) it can cause a lot of shock onto your body because it is not the same nutrients. I feel like this is a concept that we as consumers are not super familiar with and that’s why moderation becomes a back-burner concept to a lot of us. We know what it is and what it generally means, but whether we actually apply it to our everyday eating habits is different. I think as consumers, we understand the concept of “not too much and not too little” compared to “in moderation”.
As a consumer myself, I want to be more cautious about moderation and become more understanding of the term when it comes to the food that I put into my body. It is something I do want to take more seriously because there are so many discoveries being made about the foods that we eat and we need to be more cautious about what we eat. Moderation only works in our benefit if we are consuming the right foods.