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What if the way you handle emotionsyours and othersis the difference between leading well and missing the mark? Well, that’s where emotional intelligence comes in. But what if you had insight into saying the right things at the right moment to build stronger connections in the process? Would that be a gamne changer for you? Emotional intelligence shows up in the way we talk to people, especially when things get tense, uncertain, or emotional. Choosing your words with the skills of EQ Its not about being perfect or having all the answers. Its about being aware of what you’re feeling, paying attention to how others are doing, and choosing words that connect instead of shut things down. Hard to do for some, I know, but if you’re leading a team, the way you communicate can either build trust or quietly erode it. Here are five core emotional intelligence skillseach with practical ways to show them through simple, everyday phrases you can start practicing today. 1. What to say to display empathy Empathy means showing people you see what theyre going through. You dont have to solve their problem or offer advice. Just saying something like That sounds really tough. Want to talk about it? or I get why this would be frustrating tells someone theyre not alone. These small moments help people feel understoodand that matters more than we often realize. 2. What to say to show self-awareness This crucial EQ skill is about noticing your own reactions and being honest about whats behind them. If youve snapped at someone or feel off, it can sound like Ive been a bit distracted todaytheres a lot on my plate. Or That topic gets under my skin, and Im working on that. Here’s the thing: owning your emotions doesnt make you weak; it makes you real. And real earns respect. 3. What to say to show emotional regulation The skill of emotional regularion is staying steady when emotions run high. Its not about shutting down feelings; its about not letting them run the show. You might say, I want to respond thoughtfully, so Im going to take a minute, or Lets revisit this tomorrow when weve both had time to think. That pause gives space for better conversations and fewer regrets. 4. What to say to display relationship management This is using emotional awareness to navigate conversations in a way that keeps people connected, even when you disagree. It sounds like I want us to be on the same pagecan we talk this through? or I appreciate your perspective. Lets figure out how to move forward together. Its about making it clear that the relationship matters as much as the issue at hand. 5. What to say to show active listening Yes, this is definetely a skill of emotional intelligence. It’s more than nodding while you wait your turn to talk. When someones sharing something important, phrases like So what Im hearing is or Tell me more about whats behind that show youre actually engaged. People can tell when youre really listening and it builds trust faster than anything else. By Marcel Schwantes This article originally appeared on Fast Company’s sister publication, Inc. Inc. is the voice of the American entrepreneur. We inspire, inform, and document the most fascinating people in business: the risk-takers, the innovators, and the ultra-driven go-getters that represent the most dynamic force in the American economy.
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While most retirement portfolios include allocations to stocks and bonds in the years leading up to retirement, most retirement savers don’t hold much more than an emergency cushion in cash.Thus, an important job in the years before retirement is building up that cash cushion.The good news is that cash yields are up, meaning cash holdings aren’t the “dead money” they were a few years ago. And equity investments have performed well, tooat least until very recently. That means that most investors can build their cash stakes, at least in part, by pruning appreciated holdings.Here’s some guidance on the amount, source, and location of those liquid reserves, according to the Bucket approach to retirement portfolio planning. Rightsizing Bucket 1 Your cash bucket should consist of one to two years’ worth of portfolio withdrawals, not living expenses.In order to set up Bucket 1 initially, think through your cash flow sources for the first few years of retirement.For example, let’s say a 66-year-old wants to retire in two years and expects that he’ll need to spend $80,000 per year, in total, from his $1.5 million portfolio, at that time. He wants to delay filing for Social Security until age 70, so all of his spending will come from his portfolio in those first few years of retirement. After that, roughly half his spending needs will come from Social Security.If he wanted to be conservative, he could build a cash cushion consisting of $160,000his years 1 and 2 portfolio withdrawals.His Bucket 2high-quality bondswould consist of eight years’ worth of portfolio withdrawals, which at that point will be $40,000 per year. The remaining $1 million and change could go into a globally diversified equity portfolio. Where to put the money? It’s also worth considering the “where” of your liquid reserves. To do so, consider your sequence of withdrawals in retirement.Taxable accounts are often first in the queue for retirement withdrawals because their ongoing tax costs are higher than tax-sheltered accounts.But some retirees may benefit from spending from their tax-deferred accounts early in retirement, with an eye toward reducing future required minimum distributions and tax bills. This is a good spot to get some advice from a financial or tax advisor.Armed with the knowledge of where you’ll turn for your spending in the first part of your retirement, you can then figure out where best to hold your liquid reserves. Where to get the money? The next step is figuring out how to build up this reserve. Ideally, you’d give yourself a couple of years to enlarge your cash position rather than having to find the money just before retirement.For preretirees who are still saving for retirement, start by directing new contributions into cash. Say, for example, the aforementioned retiree is directing a couple years’ worth of IRA and 401(k)contributions to cash. He could arrive at nearly half his target cash allocation by the time he reaches his retirement.There’s also potential bonuses and inheritances. If you’ve recently received a surprise cash injection, the assets are a logical source for bulking up cash reserves.Another solid option is to build up cash by peeling back on highly appreciated asset classes, especially US stocks. Trimming equities and adding those assets to cash and bonds reduces risk and helps cover cash flows for the first few years of retirement.Finally, you can reduce risky positions. Consider the employer stock you know you should scale back on or the individual-stock portfolio that’s duplicative of what’s in your mutual funds. Such holdings can be ideal sources when building up your cash reserves, but mind the tax consequences if you’re selling them from a taxable account. This article was provided to The Associated Press by Morningstar. For more personal finance content, go to https://www.morningstar.com/personal-financeChristine Benz is director of personal finance for Morningstar. Christine Benz of Morningstar
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U.S. President Donald Trump is pushing China and India to stop buying oil from Russia and helping fund the Kremlin’s war against Ukraine.Trump is raising the issue as he seeks to press Russian President Vladimir Putin to agree to a ceasefire.But cheap Russian oil benefits refiners in those countries as well as meeting their needs for energy, and they’re not showing any inclination to halt the practice. Three countries are big buyers of Russian oil China, India and Turkey are the biggest recipients of oil that used to go to the European Union. The EU’s decision to boycott most Russian seaborne oil from January 2023 led to a massive shift in crude flows from Europe to Asia.Since then, China has been the No. 1 overall purchaser of Russian energy since the EU boycott, with some $219.5 billion worth of Russian oil, gas and coal, followed by India with $133.4 billion and Turkey with $90.3 billion. Before the invasion, India imported relatively little Russian oil.Hungary imports some Russian oil through a pipeline. Hungary is an EU member, but President Viktor Orban has been critical of sanctions against Russia. The lure of cheaper oil One big reason: It’s cheap. Since Russian oil trades at a lower price than international benchmark Brent, refineries can fatten their profit margins when they turn crude into usable products such as diesel fuel. Russia’s oil earnings are substantial despite sanctions The Kyiv School of Economics says Russia took in $12.6 billion from oil sales in June. Russia continues to earn substantial sums even as the Group of Seven leading industrialized nations has tried to limit Russia’s take by imposing an oil price cap. The cap is to be enforced by requiring shipping and insurance companies to refuse to handle oil shipments above the cap. Russia has, to a great extent, been able to evade the cap by shipping oil on a “shadow fleet” of old vessels using insurers and trading companies located in countries that are not enforcing sanctions.Russian oil exporters are predicted to take in $153 billion this year, according to the Kyiv institute. Fossil fuels are the single largest source of budget revenue. The imports support Russia’s ruble currency and help Russia to buy goods from other countries, including weapons and parts for them. David McHugh, AP Business Writer
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