What do you need to know about CBD for Athletes?

Athlete activities have a lot of stress which has both positive and negative effects on our bodies. During training, stress stimulates increased performance, but prolonged wear and tear along with physical trauma lead to injuries and pain. Current methods effectively relieve the pain, but it poses a greater health risk. By knowing the benefits of CBD for Energy, many people are asking about cannabidiol or CBD for athletes. It’s a safer pain relief product; it relieves pain and reduces the inflammation without the risks.

Is CBD legal for athletes?

At first, CBD was on the list of prohibited substances. As 2018 begins, the World Anti-Doping Agency removed this substance from the prohibited list. Still, major sports league and athletic organizations prohibit the psychoactive component of marijuana, THC. Except cannabidiol, some synthetic cannabinoids mimic the effects of THC.

After taking CBD some reports show reports of people testing positive for THC. If you take CBD from an unreliable source, the risk increases. If you are an athlete make sure to get a high-quality product and avoid the risks.

What should you know before trying CBD?

Before consuming CBD, you should seek medical advice before trying it, if you have any medical condition or taking other medication. If you are new to CBD consume it in low doses and avoid consuming before the competition. If you are an athlete your body leads to pain and inflammation where CBD for Energy helps your neurotransmitters back under control and help athletes to maintain homeostasis.

Benefits of CBD for athletes:

Relieve pain:

The consumption of CBD effectively reduces pain including stiff joints and musculoskeletal pain from exercise. For many athletes, CBD helps to relieve pain.

Reduce inflammation:

A little bit of inflammation is good, this helps to stimulate positive training adaptation to athletes. But too much inflammation hurts performance. In both the brain and periphery there are CB2 receptors which are concentrated in immune tissues. Cannabinoid usage has an anti-inflammatory effect which binds to CB2 receptors and reduces cytokine production.

Settle your gut:

Inflammation causes a lot of discomfort, and GI distress is one of the reasons that endurance athletes drop out of races. If you have inflammation issues that contribute to gut problems during or after exercise, CBD effectively reduces your symptoms.

Improves sleep quality:

Better sleep which improves the quality of life, where it is important for an athlete to achieve greater training gains. Consuming CBD eases the athlete to get more restful sleep. CBD inhibits the adenosine reuptake where it slows down brain activity, helping you feel calmer, and induces sleep. As you sleep, your body metabolizes adenosine and sometimes later, low concentrations of adenosine help you wake up and the process starts again. CBD inhibits adenosine reuptake and helps to have a more restful sleep.

The Yellow Brick Road of Financial Advice

1. Calculate your net worth Take the market value of all your significant assets including houses, investments, vehicles,/cash savings,/and subtract what you owe on your mortgage, credit cards, LOC, student loans, vehicle loans, etc. Focus on the big-ticket items…. you can ignore the $50 you have stowed away in your sock drawer! Whatever is left over, whether positive or negative, is your net worth. This is the starting point and yardstick for measuring your financial progress. Going forward, you will need to revisit this calculation on a regular basis to determine your progress. 2. Pay yourself first – and save it!/ You should be aiming to save at least 10% of your after-tax salary. Every payday, that 10% has to get from the daily chequing account where your salary is deposited to a high-interest savings account… like clockwork with no ifs, ands or buts!/How to invest that money is another lesson, but for now, just get a system in place to make ensure you put it aside — money left in a chequing account has a way of disappearing! Overcome your forgetfulness and/or temptation and make that money invisible by setting up an automatic/transfer/to a designated savings account every payday. If you are struggling to meet the 10% goal, you need to list up your monthly expenses and find some low-hanging fruit you can cut and divert into savings./ Dining out, travel, phone/internet/cable plans and gym memberships can add up quickly and are good areas to carve out some savings. 3. Understand where your money is going The top two overspends for Canadians are housing and transportation. The cost of your car is not just the monthly payment! You must include the insurance, gas and/repairs – and it shouldn’t eat up much more than 10% of your after-tax income. Do the same calculation with your housing and make sure to include the mortgage, repairs, utilities and property tax. Aim for a maximum of 30% of after-tax income, not whatever the bank or mortgage stress-test says you can afford. If you find you are way over the 10% target for your car you can easily downgrade, but a change in housing is much more involved. There are numerous fees and related costs to factor in, not to mention the fact that it may be difficult to find a cheaper housing option in your area. We recommend doing the calculation and at least get a benchmark of your current situation. You may be able to save on utilities, repairs or home improvements, or even try and generate some extra income to get closer to the 30% target. 4. Prioritize your debts and create a repayment plan Not all debts are created equal, some cost a lot more than others! If you carry a credit card debt from month-to-month or graduated years ago and are still trying to pay off your student loan, you need to create a repayment plan and stick to it. The interest rate on credit cards assures that paying the minimum every month will only enrichen the card company and cost you thousands in interest charges. Student loans also carry higher interest rates and can handicap your post-graduation financial life for years. We appreciate the value of education but find that many students are not very cognizant of the loan details and just how much the interest rate and payments will be post graduation. Only borrow what is absolutely necessary to get you through your education and don’t bank on a big post-graduation paycheque to quickly reduce that student loan – it may not happen for a few years! A few good books and/or a money coach would be a great addition to building your financial education but learning how to master the above basics won’t take much of your time and give you a solid start to a successful financial life.

Financial Stepney – A positive catalyst to your emotions

Fallback or Plan B has not been welcomed positively when it comes to following a passion, as few believe it fails to bring out the full potential in any situation. However, businessmen, sportsmen, or any team player always believed in having a Plan B.

We at S9 Financial Planners, have a similar way to explain the concept of financial backup or also known as contingency or emergency funds which according to us is a must-have portion in any individual’s personal finance portfolio for unprecedented times. We like to call it “Financial Stepney”

We have all gone through one such unexpected and uncertain period in 2020. Due to this unforeseen Pandemic, everything was shut, businesses were down and job losses were at their peak. Even the stock market was highly bearish at that point in time.

Obstacles in having Financial Stepney or emergency funds
We have noticed two kinds of habits that mostly cause obstacles, whenever we have asked clients to have their financial Stepney in place.

Lack of Planning: Just like when a journey is planned, one is too focused or excited on routes and stopovers that the alternatives of things going wrong are not taken into consideration all the time. Similarly, when we plan for our financial goals we are so much into achieving them that we lack in planning our contingencies. Whereas, as a financial planners& investment advisors, we strongly recommend having our risk-managed. Planning ahead of time and taking “things to go south” outcomes into consideration in such scenarios is very important.

Last on Priority: In our priority list, the emergency fund is always at the bottom when we all are well aware that trouble never knocks before coming. Most of us tend to have this attitude that this is not something that needs attention right now, and then we regret not having it the most.

Why do we need a Financial Stepney?
During this lockdown, we observed that many businessmen and the working class redeemed almost all their investment and savings which were actually kept for achieving their short-term and long-term goals. This led to the real financial crunch and no Plan B to rely on. We have also evidently noticed when financial goals are not achieved as planned or dreamt, one invites emotional chaos. None of us want any of this stress or disturbance in our lives.

There is a brighter side to this thing. The one who had their contingency plan or financial Stepney in place was able to stick to their goals and keep their investment as it is. Redeeming emergency funds that were parked in their portfolio was the right move in such a scenario. Financial Stepney here can act as a positive catalyst for our emotions.

The importance of having a Financial Stepney or emergency funds in your financial plan is something I wanted to throw light on, but it is necessary to know how to create one?

How to create Financial Stepney or Emergency funds?
Here are the basic things to remember when you create your Financial Stepney.

Financial Stepney is not a short-term process.
You should aim to have emergency funds that are equal to or near to 6-9 months of your salary or profit amount.
Funds parked as emergency funds should be only used in emergencies and not on things that are not in the plan or for splurging. It is not the excess amount.
Park a part of your bonus or other passive income as a Financial Stepney.
Make sure that your emergency funds have easy liquidity so that you can actually use them at the time of emergencies. For clarification, Investment in buying a house cannot be called an emergency fund, because we need to know that one cannot sell a part of the kitchen or bedroom in exchange for funds. Liquidity is of paramount importance.
Lastly, think of Financial Stepney as ‘Plan B’ – it’s a realization and acceptance of the fact that no one can predict what is in store for us in the future. However, with a Stepney, even after a small interruption we have the power to drive back on track.