TRENDS FOR 2023 Health Food

Rarely do we think about what is trending in the world of food and drink, but there are organizations that study this issue constantly, including Whole Foods, Innova Market Insights and even Martha Stewart herself. The current trend seems to be towards a focus on healthier eating due to an interest in sustainable agriculture, climate change and possibly as a result of correcting those bad habits acquired during Covid lock down.

In the drink space, mocktails, or virgin cocktails, have become more and more popular for health reasons, even spawning a number of new establishments devoted exclusively to alcohol-free night life. This trend expands well beyond Shirley Temples and there is an emphasis on alcohol free cosmopolitans, margaritas, mojitos and other more original creative drinks. As an example, Whole Foods points to yaupon, a caffeinated plant, to be brewed for tea and also used in new mocktail creations. Also growing in popularity are milk substitutes like oat, soy, almond, and even potato. They are typically lower in fat, sugar and are also cholesterol free.

In the world of foods, there has been significant and growing interest in nutrition and sustainability. We will be interested in more natural less processed foods as well as more traditional ethnic menus. Plant based foods will be a growth area as the number of vegans has increased significantly and most of us have cut down on meat consumption for health and environmental concerns. We will want more locally produced ingredients due to interest in climate change. There is actually a new word for this - glocal. Think global and eat local!

Plant based pasta made from chickpeas, cauliflower and zucchini are already popular but new ones made from hearts of palm and green bananas are coming. And of course there is spaghetti squash which is the true vegetable pasta. Plant based meats have been available for quite some time but expect to see more plant based chicken and cheese.

Interestingly, mushrooms are of particular interest as they are actually a super-food and contain so many necessary nutrients such as vitamins B and D, potassium, and antioxidants that can reduce signs of aging. With over 400 species, there is always a new one to try and the latest trend is toward oyster and trumpet mushrooms. What makes mushrooms such a versatile substitute is they are naturally chewy, crisp up when cooked, and absorb a variety of sauces. Don’t forget the portobello, which is a great meat replacement or even king oyster mushrooms as a replacement for scallops.

Not many people stumble into financial security through sheer luck: a lottery win, big inheritance, or huge stock winnings.

For most of us the only way to financial security is a long term plan of saving and investing.

Consistency is key to reaching long term goals no matter your income. The sooner you start saving and investing, the longer your money has to compound and grow.

Set goals for how much of your income you will invest monthly and stick to it. Keep investment money and cash reserves separate so you won’t dip into your investment account when the market is down. Keep expenses low and spend on what is really important to you whether it is experiences or material things.

Try to avoid the big mistakes, like buying a home that is more than you really need or creating a heavy debt load.

If your employer offers a matching 401(k) contribution, be sure to take advantage of that option and contribute at least enough to receive it. It is essentially extra income that will grow and compound and is not taxed until you withdraw it.

You can do it yourself but it probably makes more sense to work with a financial advisor who is more knowledgeable about financial markets. An advisor will help analyze short term vs long term needs, separate emotions from objectives as well as help with devising a portfolio and strategy suitable for your needs.

Investing consistently over the long term is the best way to grow your wealth as there is no way to time the market.