Experts Matter. Find Yours.

Expert Perspective: The Hidden Costs of Cultural Appropriation

In our interconnected world, cultural borrowing is everywhere. But why do some instances earn applause while others provoke outrage? This question is becoming increasingly crucial for business leaders who must carefully navigate cultural boundaries. Take the backlash the Kardashian-Jenner family faced for adopting styles from minority cultures or the controversy over non-Indigenous designers using Native American patterns in fashion. These examples highlight the issue of cultural appropriation, where borrowing elements from another culture without genuine understanding or respect can lead to accusations of exploitation. Abraham Oshotse, an assistant professor of organization and management at Goizueta Business School, along with Assistant Professor of Sociology and Anthropology at Hebrew University Yael Berda and Associate Professor of Organizational Behavior at the Stanford Graduate School of Business Amir Goldberg, explores this in their research on “cultural tariffing.” They shed light on why high-status individuals, such as celebrities or industry leaders, often come under fire when crossing cultural boundaries. The Concept of Cultural Tariffing Oshotse and coauthors define cultural tariffing as “the act of imposing a social cost on cultural boundary crossing. It is levied on high-status actors crossing into low-status culture, in order to mitigate the reproduction of the status inequality.” This notion suggests that the acceptance or rejection of cultural boundary-crossing is influenced by the perceived costs and benefits. Cultural appropriation involves taking elements from a culture that one does not belong to, without permission or authority. For example, when Elvis Presley brought African-American music into the mainstream, it was initially seen as elevating the genre. However, in today’s context, such acts might be criticized as appropriation rather than celebration. This research seeks to analyze people’s modern reactions to different examples of cultural boundary-crossing and which conditions induce cultural tariffing. The Hypotheses The researchers make four hypotheses about participants’ reactions to cultural appropriation: People will disapprove of cultural borrowing if there’s a clear power imbalance, with the borrowing group having more status or privilege than the group they are borrowing from. Cultural borrowing is more likely to be criticized if the person doing it has a higher socioeconomic status within their social group. Cultural borrowing is more likely to be criticized if the person doing it has only a shallow connection to the culture they’re borrowing from. Cultural borrowing is more likely to be criticized if the person doing it benefits more from it than the people from the culture they are borrowing from. Put to the Test Oshotse et al exposed respondents to four scenarios per hypothesis (16 total) with a permissible and a transgressive condition. In the permissible condition, subjects exhibit lower status or socioeconomic standing or a stronger connection to the target culture. Subjects in the transgressive condition exhibit a higher status or socioeconomic standing and less of an authentic connection to the target culture. Insights from the Study Oshotse’s study offers four key insights: Status Matters: Cultural boundary-crossing is more likely to generate disapproval if there’s a clear status difference favoring the adopter. Superficial Connections: The less authentic the adopter’s connection to the target culture, the more likely they are to face backlash. Socioeconomic Influence: Higher socioeconomic status within the adopter’s social group increases the likelihood of disapproval. Value Extraction: The more value the adopter gains relative to the culture they’re borrowing from, the higher the disapproval. These insights are crucial for leaders who want to navigate cultural boundaries successfully, ensuring their actions are seen as respectful and inclusive rather than exploitative. Real-World Implications for Business Leaders Why does this matter for business leaders? Understanding cultural tariffing is crucial when expanding into new markets, launching multicultural campaigns, or even managing diverse teams. The research suggests that crossing cultural boundaries without deep understanding or respect can backfire. That’s especially true when the adopter holds a higher socioeconomic status. Consider the example of a luxury brand adopting traditional African patterns without engaging with the communities behind them. In this case, it risks being seen as exploitative rather than innovative. The consequences aren’t just reputational; they can also impact the brand’s bottom line. This research isn’t just about isolated incidents; it mirrors sweeping societal shifts. Over the past 50 years, Western views have evolved to embrace ethnic diversity and multicultural exchange. But with this newfound appreciation comes a fresh set of challenges. Today’s leaders must navigate cultural interactions with greater care, fully aware of the historical and social contexts that shape perceptions of appropriation. In today’s global and interconnected business landscape, mastering the subtleties of cultural appropriation and tariffing is crucial. Leaders who tread thoughtfully can boost their reputation and success, while those who falter may face serious backlash. By understanding the hidden costs of crossing cultural boundaries, business leaders can cultivate authentic exchanges and steer clear of the pitfalls of appropriation. Abraham Oshotse is an assistant professor of organization & management. He is available speak to media regarding  this important topic - simply click on his icon now to arrange an interview today.

How college graduates can find success in a tough job market

Commencement season is an exciting time for soon-to-be college graduates – at least for those who will jump into a job once the caps are tossed. For others, it's a time of stress and uncertainty. Jill Gugino Panté, director of the Lerner Career Services Center at the University of Delaware, identified three areas where concerned graduates should focus to boost their chances of scoring interviews and potentially securing employment this summer. • Stay industry-informed: Keeping up with skills, trends and news in your field to stay current and competitive. • Network with purpose: Because many jobs are landed through connections, use LinkedIn to engage with others and grow your brand. • Leverage AI Smartly. Use tools like ChatGPT, Microsoft Copilot or Google Gemini to refine your resume, prep for interviews or analyze job descriptions. One key: Remember to maintain your authentic self. To arrange an interview with Panté visit her profile and click on the "contact" button.

The Hidden Power of Invisible Experts

In a fast-moving landscape shaped by AI, hybrid work, and constant information shifts, organizations can’t afford to overlook their own expertise. Yet many still do — because the most valuable voices are often hiding in plain sight. We call them "invisible experts". These aren’t just the well-known thought leaders or executives quoted in media. They’re the researchers, engineers, clinicians, analysts, and project leads quietly shaping strategy, driving innovation, and influencing outcomes every day. They have deep knowledge, practical insight, and the credibility to build trust — but they’re often left out of the spotlight. And that’s a problem. --- The Expertise Gap Many organizations, both corporate and institutional struggle to define what makes someone an “expert”. Without a clear framework, expertise is often equated with job title, seniority, or public visibility. But in reality, expertise is multidimensional. It includes formal education, yes — but also lived experience, community influence, original research, and the ability to explain complex ideas clearly. If your organization wants to stay competitive, earn media attention, attract speaking engagements, partnerships, or influence your industry, you need a deeper bench of visible expertise. And it starts by identifying who your real experts are — not just the obvious ones. --- 7 Dimensions of Expertise Here are seven ways to think about expertise beyond the traditional credentials: Authority – Known as a go-to source in their domain. Advocate – Actively supports and elevates their professional community. Educator – Shares knowledge through teaching, speaking, or mentoring. Author – Publishes original insights or thought leadership content. Researcher – Contributes new data, analysis, or findings in their field. Practitioner – Applies knowledge in real-world contexts daily. Graduate – Has academic or technical training in a focus area. Not every expert is made for the stage or the media spotlight — and that’s okay. Some are best behind the scenes, helping create compelling content, briefing spokespeople, or surfacing insights from the field. Your job is to recognize the different ways people can contribute and make that part of your strategy. --- Visibility ≠ Seniority In the era of LinkedIn, personal branding, and AI-powered content, professional visibility is no longer tied to hierarchy. A mid-career professional, with a sharp take on current events might be more discoverable — and more in demand — than a long-tenured exec with little digital presence. That’s why organizations need to shift from thinking about expertise as a ladder, to thinking of it as an ecosystem. Not every expert wants to build a personal brand, but many are ready to contribute — if they’re supported and recognized. Here’s the truth: If you don’t tell your story, someone else will. And if you don’t help your experts show up in the right places — search engines, newsrooms, speaker directories, donor meetings — opportunities will go elsewhere. --- Give Your Experts a Digital Home Even after you've identified your internal experts, the next question is: Where do they live online? Too many organizations treat expert content like an afterthought — scattered across bio pages, outdated PDFs, or buried in press releases. To unlock the real value of your expertise, you need to give it a proper home. That means: Expert Profiles that showcase credentials, insights, and media-friendly info Expert Posts that surface their latest research, commentary, and thought leadership Searchable Directories that help media, partners, and the public find the right voice fast Inquiry Management tools that streamline incoming requests and drive results A centralized platform makes it easier for both internal teams and external audiences to discover, engage, and activate your expertise — whether it’s for media interviews, event invitations, donor conversations, or strategic partnerships. Without it, you're leaving visibility and value on the table. --- Is Your Organization Ready? Expertise is one of your most valuable and underutilized assets — but turning it into impact requires more than a list of names. You need to take stock of your internal bench strength, identify the experts who are ready to lead, and invest in the systems that make their voices heard. Start by asking: Who in our organization has untapped insight? Who’s already engaging audiences but flying under the radar? What tools, platforms, and support can we provide to amplify them? Recognizing your invisible experts is just the first step. Giving them a digital home and helping them engage with the right audiences — that’s how you turn knowledge into opportunity. Learn more about how ExpertFile helps organization's shine the light in these Invisible Experts.

How to create an engaging online presence for your experts at scale.

Tasked with creating or expanding how you promote your organization's experts? Delivering an engaging online presence is vital, yet scaling from a handful of experts to hundreds takes planning. While interesting content, modern layouts, and intuitive navigation are essential, the real test lies in managing and presenting the extensive knowledge each expert brings. What works for a few can become a complex, time-consuming, and costly endeavor as you attempt to scale to dozens or hundreds of experts and their content, leading to an underwhelming user experience and missed opportunities. These challenges are magnified as small marketing and digital teams face greater demands such as: How do I create and maintain up-to-date content for all my experts? How can I efficiently roll out this content across my website, beyond just the About Us/Team or Newsroom sections? How can I best facilitate audience interaction with my content, leading to valuable opportunities for both my experts and my organization? And perhaps most importantly… How can I minimize the use of marketing and digital resources, as well as costs, in building and maintaining all this content? Addressing these challenges requires a plan. The following highlights 4 areas to focus on when scaling your expert content to ensure an engaging user experience for your audience. 1. Create versatile content that’s engaging, timely, and relevant. The foundational importance of the quality and versatility of your expert content in designing an optimal user experience cannot be overstated. According to a recent report from the Content Marketing Institute, the majority 52% of B2B marketers plan to increase their marketing spend in 2025 on “thought leadership content”. This underscores the necessity of making relevant, high-quality expert content the backbone of delivering engaging and intuitive interactions with your visitors. Without this focus on content, it doesn’t matter how visually appealing your layouts are or how well structured your navigation, it won’t meet the needs of your audience. Expertly crafted content builds trust and credibility, as users perceive well-organized, comprehensive and authoritative information as a sign of a reputable organization with interesting and credible experts. "Content precedes design. Design in the absence of content is not design, it’s decoration". Jeffrey Zeldman - Renowned designer, author & speaker on web design. Ultimately, the integration of high-quality, versatile content into UX design is essential for creating meaningful and effective digital experiences that meet and exceed your visitor’s expectations. Keys to Scaling Share the Workload: Make content creation and management easier by using a purpose-built system that streamlines content creation and updates, vs custom designed page or need to provide access to the core CMS. Ensure the system allows multiple team members, including the experts themselves, to easily access and manage their content, making the process quick and efficient. Repurpose Existing Content Assets: According to the Content Marketing Institute, the failure to utilize pre-existing content is significant challenge (37%) impacting marketers' ability to scale. Leverage existing content assets, such as blog copy & imagery, and previously created videos, to enhance your expert content. This approach allows you to enrich your content without the need for expensive production, making the most of the resources you already have. Leverage Your Content Elements Together or Individually: Each content element should enable visitors to explore deeper insights from experts. Linking profiles to embedded videos and insightful posts or showcasing other experts within your organization can offer new and diverse perspectives. This approach enhances user engagement and provides a richer, more interactive experience. 2. Start with a home base, then grow your footprint. Creating a home base for your expert content, such as an "Expert Center" or "Speakers Bureau," within your website's newsroom or media section, or enhancing your "About Us" pages, can significantly elevate your organization's profile and improve user experience. This hub could also be tailored to highlight specific areas like "Research Expertise," depending on your primary audience—be it media, event organizers, or prospective clients. Establishing this destination for your expertise using a flexible integration option, not only provides a focal point for your owned content but also lays the groundwork for expanding your reach across your website. By categorizing and featuring your expert content strategically, you can engage a broader audience across various sections of your site. "Your website’s content should act as a doorway. Land new visitors with compelling stories, then expand their engagement by guiding them to explore more relevant content tailored to their interests."  Ann Handley, Chief Content Officer, MarketingProfs Keys to Scaling Establish & State Clear Objectives - Ensure you prominently state the goals of your initiative—whether it’s combating fake news, serving the community, or showcasing your organization's breadth of expertise. Clearly outline the types of inquiries you’re seeking to attract. This transparency not only sets expectations but also aligns visitors with your mission, fostering trust and engagement. Invest in Fresh Content - To keep your expert content hub dynamic and engaging, continually invest in new content. Regularly feature new experts and insights to encourage visitors to bookmark and frequently visit your site. Implementing a centralized, multi-access platform for content updates will streamline this process, making it scalable and sustainable. Link to Related Content - Utilize your expert content hub as a gateway to other areas of your website. Create links to related content, such as research initiatives, to help visitors explore and engage with your broader expertise. This not only enhances the user experience but also maximizes the value and reach of your content across your site. 3. Always be thinking about Discoverability Creating expert content—from compelling profiles to thought leadership—is only valuable if it’s easy to find. If visitors can’t quickly locate the expertise they need, frustration sets in and user experience suffers. To make expert content truly effective, it must be optimized for search engines, clearly organized, and internally linked. This is especially important for audiences like media, event organizers, and potential clients who rely on quick access to credible information. Prominently featuring and properly tagging expert content boosts visibility, builds authority, and drives meaningful engagement. Keys to Scaling Homepage/Top-Level Navigation: Don’t rely solely on a menu option or link buried in a subsection like your Newsroom. Featuring menu items, graphics, and other call-outs on your homepage and main section pages will increase interaction and inquiries. Leverage Distribution Networks: Drive traffic to your expert content by promoting your experts and their insights on platforms like LinkedIn, Twitter, and expert-specific search engines like expertfile.com or mobile expert directory apps. Add Free-Form Google-Like Search: Provide visitors with a free-form search experience that encompasses all elements of your expert content, rather than just a series of tags, titles, and names. Ensure All Metadata is Available: Let Google do the heavy lifting by ensuring you have properly structured metadata and schema data for each piece of expert content. While most digital teams remember standard title and description metadata, powerful schema data that helps Google understand the context and authority of the content is often overlooked. Add Links to Common Recurring Communications: Leverage all your communication channels, including adding links to your About Us section in press releases and individual experts’ email footers. 4. Plan for your Success It is important to plan for the success of your Expertise Marketing program. A successful program will not only deliver valuable opportunities, helping drive reputation and revenue, but can also place increased demands on your marketing and digital teams, as well as your experts themselves. Your success will likely inspire interest from other experts or departments for inclusion in your program, necessitating tools and defined processes for efficient onboarding of new experts and integrations across your website. Equally important is managing the influx of inquiries from key audiences such as the media, event organizers, and prospective clients in a way that provides a seamless user experience and encourages repeat engagement. Addressing these challenges with a strategic approach will lay a solid foundation for a robust and scalable expertise marketing initiative. Keys to Scaling Inquiry Workflow: Putting a general email or phone # as a contact does not scale. Implementing an efficient inquiry workflow is essential for the success of your expertise marketing. This process starts by ensuring that inquiries from key audiences—such as media, event organizers, and potential clients—are promptly and accurately directed to the appropriate experts within your organization. An automated system can streamline this process by categorizing inquiries based on specific topics and routing them to the relevant experts, even filtering out unnecessary or harmful inquiries. This approach not only saves time but also ensures swift and professional responses, enhancing your organization's reputation and effectiveness. Capture and Act on Analytics: Continually monitoring your analytics is crucial for refining your content strategy. By analyzing which types of content and which experts resonate most with your audience, you can better plan future content creation and decide who to feature prominently. This data-driven approach allows you to tailor your expertise marketing efforts more effectively, ensuring that you consistently engage your audience and meet their needs. Share Your Success - By sharing your experts' achievements both within and outside your organization, you create a culture of recognition and aspiration. This not only encourages additional departments and experts to join your program but also enhances the overall value of your expert center. Expanding your program to include more experts and additional expert content transforms your website into a valuable destination for key audiences such as media, event organizers, and potential clients. Effective dissemination of success stories amplifies your reach, reinforces your organization’s credibility, and drives sustained engagement and growth. Successfully scaling your Expertise Marketing program while maintaining an optimal user experience presents unique challenges. It requires producing versatile, high-quality content that is consistently engaging and relevant. Establishing a centralized home base for this content, such as an "Expert Center," helps streamline navigation and enhance user interaction. Improving discoverability through effective SEO and internal linking ensures that your expert content is easily accessible to key audiences like media and event organizers. Finally, meticulous planning for content updates and inquiry workflows is essential to manage resources efficiently and sustain growth. By addressing these areas strategically, you can build a robust and scalable Expertise Marketing initiative that drives engagement and reinforces your organization's reputation. About ExpertFile ExpertFile is changing the way organizations tap into the power of their experts to drive valuable inquiries, accelerate revenue growth, and enhance their brand reputation. Used by leading corporate, higher education and healthcare clients worldwide, our award-winning platform helps teams structure, manage and promote their expert content while our search engine features experts on over 50,000+ topics. Download our "Guide to Expertise Marketing", book a demo and more here.

Fear Of Running Out (FORO)

Summary: The article explores the Fear of Running Out (FORO), a psychological phenomenon that stems from anxiety about resource scarcity, particularly in retirement. FORO is especially common among seniors who fear depleting their financial, physical, or emotional resources as they age. Unlike FOMO (Fear of Missing Out), FORO focuses on the depletion of existing assets, often leading to cautious decision-making, delayed spending, or self-sabotaging behaviours like excessive frugality or social withdrawal. While some instances of FORO are valid—such as retirees who underestimated their living expenses—others are more psychological, with financially secure individuals still feeling paralyzed by fear and unable to enjoy their retirement fully.  There are practical solutions, but they require more than just emotional support.  We also need to address the lack of formal retirement planning and literacy.  Most retirees have insufficient knowledge about tax-efficient asset drawdowns, and the limited guidance from financial institutions exacerbates these fears. We’ve all heard of FOMO (fear of missing out)—that nagging anxiety when everyone else seems to be at a fabulous party while you’re at home scrolling through social media, eating last night’s leftovers straight from the container. As we age, the fears we carry evolve—and for some, they get a little louder, quirkier, and much more challenging to ignore. A unique set of acronyms has emerged for older adults to describe these creeping anxieties. Allow me to introduce you to the unholy trinity of aging fears: FOGO (Fear of Getting Old): This one typically kicks in around our mid-to-late 50s when the realization hits and panic sets in: "Wait... I’m not young anymore?" Have I saved enough? Have I experienced enough? Am I running out of time? Cue the classic symptoms: splurging on bright red sports cars, embarking on bucket-list trips to exotic locales, or dating someone who knows what "Netflix and chill" really means, not cozying up with a movie. And yes, sometimes while still married. It’s all part of the "midlife crisis" package—a desperate attempt to outrun Father Time. But let’s be honest: The comb-over isn’t fooling anyone. FOBO (Fear of Being Old): This stage sneaks in during your 70s, as your "best before" date blinks ominously on life’s metaphorical packaging. Many enter into a state of "defensive denial,"  refusing to acknowledge their age or any limitations, insisting they are still as capable as ever, even when struggling with specific tasks.  In this stage, people can demonstrate "overcompensation - Desperately trying to prove they’re still youthful.  Many will refuse to use mobility aids or decline assistance from family or caregivers out of pride.  Others will shut down anyone who dares to suggest they are old. “Me? Old? Please. I just got a brand-new hip last year!” FORO (Fear of Running Out): Now we get to the show's real star. FORO enters the spotlight as you thoughtfully consider retirement and suddenly takes over the plot. It’s the fear of running out—of money, energy, time, or maybe even snacks at movie night. This one’s a relentless buzz in the background of every decision, from how you spend your savings to whether you should buy name-brand peanut butter or settle for the generic jar. If left unchecked, FORO can steal the joy out of today by worrying too much about tomorrow. We have all heard the stories of people passing away with millions of dollars in the bank, yet they lived in squalor, afraid to spend their money. Now, FORO can manifest in all kinds of ways. Some are almost funny in hindsight. Remember the pandemic toilet paper wars of 2020? Or that panic at a party when you’re convinced you don’t have enough food for your guests, only to find yourself drowning in leftovers? But for seniors in retirement, FORO often takes on a much more serious tone—like running out of money, energy, or health as the years go by. These thoughts can be terrifying for the aged.  And sometimes, this fear is warranted. Imagine a retiree who underestimated their living expenses, burned through savings too quickly, and now faces the stark reality of financial insecurity. That’s a legitimate case of FORO that demands attention, planning, and maybe a shift in lifestyle. But other times, FORO is more like a shadow in the dark—unsettling at first glance but harmless once illuminated. For example, some seniors with reasonable pensions, savings, and even supplemental income streams might still be too paralyzed by the fear of running out to take that dream vacation or help their grandchildren with school. In this situation, it is doubtful that there will ever be enough. This type of FORO can cause harm through neglect. This unfounded FORO can keep people from genuinely thriving during their golden years. There are well-documented cases of individuals who have perished from thirst in the desert while carrying full bottles of water. They were too frightened of running out of water to save their lives by drinking it. Most of us shake our heads and think we would never do that, but FORO represents a compelling fear that can lead to self-sabotaging behaviours. If FORO could result in death in the aforementioned desert scenario, how might it influence decisions regarding our significant assets, such as our homes? Unfortunately, many retirees pinch pennies and go without while living in homes with considerable equity, refusing to access it for fear of running out (FORO). So, how do we know when FORO is a valid warning signal and when it’s just a psychological hurdle? And, more importantly, how can we tackle this fear to ensure it doesn’t stand in the way of living a joyful, fulfilled retirement? Read on; we’ll dive deeper into the concept of FORO—why it exists, how it can sneak into our decision-making, and, most importantly, actionable strategies to manage it. Remember, your golden years shouldn’t be ruled by fear—they should be a time to shine. The Fear of Running Out (FORO) is a psychological concept rooted in anxiety about scarcity or insufficiency, particularly concerning essential resources like money, time, or opportunities. It's akin to FOMO (Fear of Missing Out), but instead emphasizes the anxiety of depleting one's existing resources rather than worrying about missed experiences. While FORO has not been as widely studied as FOMO in academic circles, the term has gained traction in financial and psychological contexts, particularly regarding retirement planning, economic behaviour, and decision-making. Although it’s unclear who explicitly popularized the term “Fear of Running Out,” it has become a recurring theme in financial planning discussions and among behavioural psychologists studying how individuals manage uncertainty and risk. The Psychology of FORO FORO is deeply rooted in psychological concepts of scarcity and loss aversion, both key ideas in behavioural economics. Loss aversion, central to Daniel Kahneman and Amos Tversky’s prospect theory, highlights that the pain of losing something outweighs the joy of gaining an equivalent amount. In the context of retirement, the fear of running out of money reflects this principle—financial depletion carries the weight of losing essential aspects like security, independence, and quality of life, making it feel particularly distressing. The work of researchers like Eldar Shafir and Senthil Mullainathan on the scarcity mindset further illuminates this phenomenon. They suggest that when people are preoccupied with avoiding resource depletion, they often develop tunnel vision, focusing narrowly on the immediate issue. For seniors worried about outliving their savings, this can manifest as excessive caution or hesitation in deciding to spend or draw down resources, even when such concerns may not be warranted. Faced with this dilemma, some seniors develop inertia, choose to do nothing, and ignore the situation altogether. According to a 2024 report by the Ontario Securities Commission, 13% of pre-retirees and 19% of retirees among Canadians aged 50 and older have a formal written retirement plan, which is a significant cause for concern. This reflects a widespread lack of structured financial and retirement literacy. Without a clear strategy, many individuals may not fully understand how to manage their resources effectively throughout retirement, particularly when it comes to de-accumulating (spending) assets in a tax-efficient manner. We can quickly start to see why many older Canadians have FORO. One key issue is that minimal accessible information exists on strategies for drawing down retirement savings to minimize taxes while ensuring long-term financial security. For example, the timing and order in which individuals withdraw from registered accounts like RRSPs, TFSAs, non-registered investments, or access their home equity can dramatically impact their overall tax burden and available income in retirement. Unfortunately, this type of guidance is often overlooked in financial planning resources, leaving most retirees guessing how much money is enough. The financial industry also contributes to this gap. Banks and many financial advisors are primarily compensated through commissions tied to the sale and management of investments, such as mutual funds or other financial products. This model does not incentivize them to provide comprehensive advice on strategically spending down savings. As a result, many seniors are left without the critical guidance they need to navigate the complexities of de-accumulation, leading to suboptimal emotionally driven decisions and increased financial stress. This lack of tailored advice is particularly problematic for Canadians who rely on paying off their homes as their primary financial plan. While homeownership is a valuable asset, it is not liquid, and converting it into usable retirement income can be challenging without proper planning. The fear of running out of money (FORO) becomes especially acute for these individuals, as they may not have the financial and retirement literacy or tools to make informed decisions about how to fund their retirement, especially concerning using home equity. In short, the low prevalence of formal retirement plans, insufficient education on tax-efficient de-accumulation, and the misaligned incentives of financial institutions significantly disadvantage seniors. This gap exacerbates financial insecurity and leaves many retirees vulnerable to the psychological and practical challenges of FORO, particularly those who rely on home equity, an illiquid asset, as their primary financial safety net. Addressing these issues requires a broader emphasis on financial and retirement literacy and unbiased, accessible advice tailored to retirees' unique needs. Key Components of FORO: 1. Scarcity Mindset—Seniors facing FORO might develop a scarcity mindset, which can lead to overly frugal behaviours. For example, they may reduce spending on essential support services or forego social activities to protect their savings, even when financially secure. 2. Emotional Triggers—FORO is tied to deeper emotional needs like safety, independence, and legacy. At its core is the fear that people will have nowhere to live, won’t have enough money to care for themselves, and will not have any money left to leave a legacy. 3. Decision Paralysis - FORO can cause retirees to delay allocating resources, from downsizing a home to sourcing pension-type income. This indecision can lead to missed opportunities or unnecessary sacrifices. 4. Overcompensation—In some cases, the fear of running out can lead to self-sabotage behaviours like hoarding money or withdrawing from social activities. These behaviours reduce quality of life and increase feelings of isolation. The Solution: A comprehensive approach that combines emotional support, practical planning, and mindset adjustments is essential to helping retirees overcome FORO. By addressing their fears and financial realities, they can gain the confidence to enjoy their retirement years without worrying about running out of money. 1. Acknowledgement and Understanding - Listen and empathize: Begin by genuinely listening to the retiree's concerns, recognizing that FORO is an emotional issue tied to deep-seated fears about security and independence. Normalize the fear: Reassure them that the fear of running out of money is common, especially in retirement. Explain the reasons behind this fear: Retirees often can’t return to work to supplement income. Lifespans and healthcare costs are unpredictable, creating uncertainty. The transition from accumulating wealth to spending it feels unnatural to many. 2. Develop a Retirement Spending Plan—Create a tailored plan. Outline a sustainable spending strategy aligning with the client's lifestyle, goals, and resources: Leverage expertise: Collaborate with their bank manager or financial advisor to develop a realistic budget covering essential and discretionary expenses. Focus on balance: Establish a balance between meeting current needs and maintaining future security. 3. Generate Pension-Like Income - Explore income solutions: Help them research ways to create predictable income streams, such as: Purchasing an annuity to convert part of their savings or equity into guaranteed income. Consider equity mortgage products for additional cash flow if they have sufficient home equity. Address misconceptions: Explain how these tools can reduce uncertainty and provide peace of mind. 4. Emergency Fund - Health care may be needed later in life and can be costly. Setting money aside for unexpected expenses will offer great comfort and peace of mind. 5. Mindset Shifts - Reframe perspectives: Encourage retirees to focus on the opportunities their resources provide rather than fixating on worst-case scenarios: Promote enjoyment: Remind them that retirement is a time to enjoy the fruits of their labour, not live in constant fear. Highlight the importance of self-care and experiences that bring joy and fulfillment. 6. Legacy Planning -  Address legacy concerns: Help them create an estate plan or designate resources for loved ones and causes they care about, ensuring their wishes are honoured: Provide clarity: Show how planning for a legacy can reduce anxiety about leaving something behind while meeting their current needs. The Fear of Running Out is more than just a financial concern—it’s a deeply emotional and psychological issue for seniors facing the unpredictability of retirement. By addressing this fear in practical and empathetic ways, we can give retirees the tools and confidence to enjoy their golden years without worrying about depletion or feeling like they need to stockpile financial "water bottles" for a drought that may never come. And there you have it—FORO might be a formidable guest at the retirement table, but it doesn’t have to steal the show. By addressing the emotional roots of this fear, creating practical plans, and shifting the focus to what’s possible, retirees can turn their golden years into precisely that: golden. Remember, retirement isn’t about tiptoeing around scarcity; it’s about celebrating a lifetime of hard work and savouring the moments that make life rich. So, let’s leave FORO in the shadows where it belongs and step confidently into a retirement that truly shines. And let’s be honest, no one wants their legacy to read: "Lived frugally, died rich, and missed the Boat to the Caribbean." Don't retire---Re-Wire! Sue

March Madness: Experts comment on picking underdogs, prop bets and economic benefits

Why do people pick underdogs when filling out their brackets for the NCAA men's and women's basketball tournaments? How do people consume March Madness? How does the tournament benefit host cities and teams economically? University of Delaware experts have the answers. The following UD faculty members can provide their expertise for journalists working on stories about the tournaments. • Jackie Silverman, assistant professor of marketing: Why people might have chosen underdogs still hanging around in their brackets, • John Allgood, instructor of sport management: How people consume March Madness (streaming vs. cable TV) and how major collegiate sports events can help brand individual schools. Contact UD media relations to reach him. • Tim DeSchriver, associate professor of sport management: Sports gambling (including prop bets) and advertising targets. • Matthew Robinson, professor of sport management: Economic benefits of the host city. • Matt McGranaghan, assistant professor of marketing: Consumer attention span during commercial breaks. To reach these experts directly and set up interviews, visit the expert profiles below and click on the contact button.

The Battle Begins - How Long will Trump's Trade Wars Last Between China, Canada and Mexico?

It has begun.  March 04 signaled the first day of what could be a long and drawn out trade war between America and it's two closest neighbors and trading partners - Canada and Mexico. President Trump also doubled the tariff he slapped last month on Chinese products to 20%. Markets are reeling, politicians are scrambling and the world is watching to see how the tariffs on Mexican and Canadian imports will affect consumers and the economy. In Canada, the reaction was swift. Businesses pulled American bourbon, wine and other imported spirits from store shelves along. Canada also threatened to turn off imported power that keeps the lights on and factories running in states like Michigan, Minnesota and New York. As well, Canadian Prime Minister, Justin Trudeau announced  immediate retaliatory measures. Trudeau said Canada will not back down from a fight in the face of "completely bogus and completely unjustified" trade action that has the potential to ruin bilateral relations and prompt job losses, economic devastation and higher inflation on both sides of the border. Trudeau has already slapped tariffs on an initial tranche of $30 billion worth of American goods and promised $125 billion more will face levies in three weeks' time. He said more, non-tariff measures are coming if Trump doesn't immediately back down. Trudeau said Trump is doing something "very dumb" by attacking Canada like this, given there will be serious ramifications for American workers and consumers with higher prices on everything from food, car parts and fertilizers to pharmaceuticals and paper products.  March 04 - CBC News Meanwhile, there have been some indicators that President Trump may be willing to negotiate. President Donald Trump will “probably” announce tariff compromise deals with Canada and Mexico soon, Commerce Secretary Howard Lutnick said Tuesday. The potential agreements would likely involve scaling back at least part of Trump’s brand new 25% tariffs on imports from Mexico and Canada, he added. Lutnick’s comments came minutes after the U.S. stock market limped to a close for a second day of sharp declines, spurred at least in part by investors’ fears that Trump’s aggressive policies will ignite a crippling trade war. After his remarks, U.S. stock futures tied to all three major averages rose. The compromises with Canada and Mexico will likely be revealed as soon as Wednesday, Lutnick said on “Fox Business.” March 04- CNBC News There's a lot of speculation out there - and lingering questions: What key American industries will benefit, which ones will suffer? When and will consumers see price hikes at the stores? Will there be a lasting negative impact felt on the American economy? What does this mean for the USMCA that was currently in place? If you're a journalist covering tariffs and the trade war - then let us help. William J. Luther, Ph.D., is an associate professor of economics at Florida Atlantic University, director of the American Institute for Economic Research’s Sound Money Project, and an adjunct scholar with the Cato Institute’s Center for Monetary and Financial Alternatives William is available to speak with media. Simply click on his icon now to arrange an interview today

Villanova Professor Releases Study on Gender Dynamics in the Beer-Drinking Community

Earlier this month, thousands of revelers donned dirndls and lederhosen to mark Oktoberfest, the annual celebration of Bavarian fare, oompah music and, above all else, beer. The fall festival is just one of many occasions, including happy hours, brewery tours and sporting events, where Americans enjoy the beverage. In fact, based on a recent report by the Pew Research Center, the U.S. population consumes approximately 6.6 billion gallons of beer each year, which averages out to about 26.5 gallons per adult of legal drinking age. However, while ales, lagers and stouts remain popular choices that bring people together, not everyone feels equally included. A new study by Shelly Rathee, PhD, the Diana and James Yacobucci '73 Assistant Professor of Marketing and Business Law, highlights a gender-based divide within the beer-drinking community, with female consumers often feeling overlooked and left out. "Due to the structure of the beer industry and marketplace, there is reason to believe that firms overproduce products that appeal to male audiences and overly communicate masculine aspects of beer consumption," says Dr. Rathee. "As a result, female consumers are made to feel (and may continue to feel) excluded by beer culture, on average. From a business standpoint, the beer industry may be limiting its total market potential in the process." As Dr. Rathee explains, the beer industry and marketplace are predominately populated by men, and academic literature has long indicated that male dominance in a social or business setting can alter the behaviors of women in myriad ways. In her project, "The Female Consumer Response Implications of Male Dominance in a Product’s Online Community," the professor sought to understand how this trend might manifest itself in an internet forum for beer aficionados, hobbyists and critics. By examining customer review data from the online community BeerAdvocate and conducting tests aimed at assessing gender-based differences in contributions, Dr. Rathee found that female consumers are inclined to defer to the male majority in such settings. In general, women either refrain from sharing their perspectives on products or adopt language characterized by what are commonly referred to as "masculinity themes." "Masculinity and femininity themes were drawn from the text of the online reviews and were identified using dictionaries derived from previous research on these topics," shares Dr. Rathee. "For example, if the consumer liked the taste of the beer, a more feminine way of describing this might be 'pleasant,' while a more masculine way might be 'strong.'" In these terms, the difference in expression might seem subtle. However, as Dr. Rathee contends, the prevalence of tens of thousands of reviews that lean toward a more masculine tone, with few offering a counterbalance, can have noticeable effects. A quick look at the beer aisle in your local supermarket reveals its impact, with bottles and cans featuring images of axe-wielding warriors, dinosaurs and gargoyles. "We found in our research that male dominance in a marketplace leads to lower trial intentions [plans to try or buy something] and brand attitudes among women," elaborates Dr. Rathee. "Therefore, we can argue that companies are likely to produce products, and marketing appeals, that are more targeted at male audiences." Although men are currently more than twice as likely as women to name beer as their preferred alcoholic beverage, Dr. Rathee suggests that there is potential to create opportunities that encourage more female drinkers to engage with beer culture. By fostering environments where women can express their preferences and perspectives, she believes the beer industry can become more inclusive and representative, ultimately enriching the community as a whole. "When featuring reviews on websites, an effort to balance out the presentation of ideas from male and female voices could be helpful," Dr. Rathee says. "Special categories could also be created to drive interest based on demographic characteristics that may include gender, among other factors. A more extreme measure would be to simply avoid including gender as a reviewer characteristic that is publicly viewable." Much like opening tents beside a beer hall, these steps could provide the necessary space and conditions for a more open and robust discussion of products to take place—to the benefit of both consumers and the industry. In the event they're increasingly pursued, that's something to which we can all raise a toast.

Expert Opinion - The Undisclosed Risks of Off-brand Ozempic and Other Weight Loss Products

The popularity -- and price -- of brand-name injectable drugs like Ozempic, Wegovy, Mounjaro, and Zepbound has skyrocketed. But the soaring demand for these drugs -- used for weight loss as well as to control blood sugar levels and reduce the risk of heart disease -- and the limited supply as well as lack of generic options has also led to a flood of non-brand alternatives in the market. In a recent article for The Conversation, UConn expert C. Michael White, Distinguished Professor of Pharmacy Practice, issued a warning to consumers about the potential undisclosed risks of these off-brand products: High demand is driving GLP-1 wannabes The dietary supplement market has sought to cash in on the GLP-1 demand with pills, teas, extracts and all manner of other products that claim to produce similar effects as the brand names at a much lower price. Products containing the herb berberine offer only a few pounds of weight loss, while many dietary supplement weight loss products contain stimulants such as sibutramine and laxatives such as phenolphthalein, which increase the risk of heart attacks, strokes and cancer. The role of compounding pharmacies Unlike the dietary supplements that are masquerading as GLP-1 weight loss products, compounding pharmacies can create custom versions of products that contain the same active ingredients as the real thing for patients who cannot use either brand or generic products for some reason. These pharmacies can also produce alternative versions of brand-name drugs when official drug shortages exist. Since the demand for GLP-1 medications has far outpaced the supply, compounding pharmacies are legally producing a variety of different semaglutide and tirzepatide products. These products may come in versions that differ from the brand-name companies, such as vials of powder that must be dissolved in liquid, or as tablets or nasal sprays. Just like the brand-name drugs, you must have a valid prescription to receive them. The prices range from $250-$400 a month – still a steep price for many consumers. Compounding pharmacies must adhere to the FDA’s sterility and quality production methods, but these rules are not as rigorous for compounding pharmacies as those for commercial manufacturers of generic drugs. In addition, the products compounding pharmacies create do not have to be tested in humans for safety or effectiveness like brand-name products do. Proper dosing can also be challenging with compounded forms of the drugs. Companies that work the system For people who cannot afford a compounding pharmacy product, or cannot get a valid prescription for semaglutide or tirzepatide, opportunistic companies are stepping in to fill the void. These include “peptide companies,” manufacturers that create non-FDA approved knockoff versions of the drugs. From November 2023 to March 2024, my team carried out a study to assess which of these peptide companies are selling semaglutide or tirzepatide products. We scoured the internet looking for these peptide companies and collected information about what they were selling and their sales practices. We found that peptide sellers use a loophole to sell these drugs. On their websites, the companies state that their drugs are for “research purposes only” or “not for human consumption,” but they do nothing to verify that the buyers are researchers or that the product is going to a research facility. By reading the comments sections of the company websites and the targeted ads on social media, it becomes clear that both buyers and sellers understand the charade. Unlike compounding pharmacies, these peptide sellers do not provide the supplies you need to dissolve and inject the drug, provide no instructions, and will usually not answer questions. Peptide sellers, since they allegedly are not selling to consumers, do not require a valid prescription and will sell consumers whatever quantity of drug they wish to purchase. Even if a person has an eating disorder such as anorexia nervosa, the companies will happily sell them a semaglutide or tirzepatide product without a prescription. The average prices of these peptide products range from $181-$203 per month. Skirting regulations Peptide sellers do not have to adhere to the rules or regulations that drug manufacturers or compounding pharmacies do. Many companies state that their products are 99% pure, but an independent investigation of three companies’ products from August 2023 to March 2024 found that the purity of the products were far less than promised. One product contained endotoxin – a toxic substance produced by bacteria – suggesting that it was contaminated with microbes. In addition, the products’ promised dosages were off by up 29% to 39%. Poor purity can cause patients to experience fever, chills, nausea, skin irritation, infections and low blood pressure. In this study, some companies never even shipped the drug, telling the buyers they needed to pay an additional fee to have the product clear customs. If a consumer is harmed by a poor-quality product, it would be difficult to sue the seller, since the products specifically say they are “not for human consumption.” Ultimately, consumers are being led to spend money on products that may never arrive, could cause an infection, might not have the correct dose, and contain no instructions on how to safely use or store the product. Dr. C. Michael White is an expert in the areas of comparative effectiveness and preventing adverse events from drugs, devices, dietary supplements, and illicit substances. Dr. White is available to speak with media -- click on his icon now to arrange an interview today.

Five ways going green can improve your bottom line: A guide for West Midlands SMEs

As sustainability becomes a central focus for businesses across the globe, small and medium-sized enterprises (SMEs) in the West Midlands are uniquely positioned to benefit from going green. Whether you're running a corner shop, a hairdressing salon, a manufacturing operation, or any other type of small business, sustainable practices can significantly enhance your bottom line. Here are five key ways that adopting green strategies can lead to financial gains. Reduced operational costs One of the most immediate and tangible benefits of going green is the reduction in operational costs. Energy efficiency, waste reduction, and resource conservation are all areas where small changes can lead to significant savings. For instance, simply switching to energy-efficient lighting can reduce electricity bills by up to 75 per cent—a substantial saving for any business, particularly for small retailers or service providers where margins can be tight. Additionally, the UK government offers incentives to help businesses transition to more energy-efficient operations, making it easier for SMEs to invest in these changes. Join Aston University’s workshop on 18 September and take advantage of a free energy assessment for your business. Learn practical steps to audit your energy use and uncover cost-saving opportunities tailored to your specific industry needs. Access to new markets and opportunities As the UK government and local authorities push for a greener economy, there are growing opportunities for businesses that align with these goals. SMEs that adopt sustainable practices may qualify for grants, tax reliefs, and other incentives designed to support green initiatives. For example, local councils in the West Midlands have programmes such as ‘BEAS and Decarbonisation Net Zero’ aimed at helping small businesses reduce their carbon footprint, which can be especially beneficial for almost all sectors where environmental impact is a growing concern. At the workshop, we’ll delve into the funding options and partnerships available to West Midlands SMEs committed to sustainability, helping you unlock new growth opportunities. Increased marketability Consumers are increasingly favouring businesses that demonstrate a commitment to sustainability. According to a study by Nielsen, 66 per cent of global consumers are willing to pay more for sustainable goods, and this trend is evident in the UK as well. By adopting green practices, SMEs in the West Midlands can enhance their brand reputation. This can translate to increased sales, customer loyalty, and even the ability to charge premium prices for sustainable products or services. In a competitive market, your environmental credentials can be a powerful differentiator. Attend Aston University’s workshop to learn from real-life success stories and see how businesses are already turning sustainability into a competitive advantage. Long-term resilience and competitiveness Sustainability isn’t just about immediate financial gains; it’s also about future-proofing your business. As regulations around carbon emissions and environmental impact become stricter, businesses that have already integrated green practices will find it easier to comply, avoiding potential fines and disruptions. For SMEs in sectors like manufacturing, where regulatory pressures are particularly high, adopting sustainable practices now can help ensure long-term competitiveness and resilience. A prime example of this shift is the NHS, which is actively working towards a Net Zero supply chain by 2045. The NHS is urging its suppliers to adopt sustainable practices, with a strong focus on reducing carbon emissions. Businesses that fail to align with these expectations risk losing contracts and falling behind competitors who are meeting these sustainability criteria. At the workshop, you'll learn more about sustainability strategy that can keep your business competitive and resilient in an ever-changing market. Enhanced employee engagement and productivity Increasingly, employees are seeking to work for companies that align with their personal values, including a commitment to sustainability. While this trend is more pronounced among larger companies, it’s also becoming relevant for small businesses, particularly those in industries where attracting and retaining talent is competitive. According to research, 74 per cent of employees feel more fulfilled when they work for a company that is making a positive impact on the environment. For small businesses, fostering a sustainable workplace can enhance employee morale, attract top talent, and reduce turnover rates. However, the degree to which this resonates can depend on your specific workforce. In sectors like tech, professional services, or among younger employees, sustainability is often a key consideration. On the other hand, in some more traditional industries, other factors like job security and compensation might be more important, though sustainability still adds value. Sign up for our workshop to discover how your small or medium business—regardless of sector—can implement effective sustainability practices and energy efficiency strategies to drive growth. This event is open to all SMEs across the West Midlands! Click here to register now. You'll also have the opportunity to book a free energy assessment on the spot and apply for match funding of up to £100,000 to make your business more energy efficient.