Category Archives: Senior Living / Retirement

By Jill Nagy

Area senior centers are open and busy as COVID-19 safety guidelines eased up . Members are returning for exercise classes, meals, games, trips, and, most of all, the chance to socialize after over a year of isolation, officials say.

At the Queensbury Senior Center, there is a waiting list for some classes and others are full. Seniors at the Glens Falls Senior Center had their first trip of the season, to a youth theater performance at Lake George, at the beginning of August, but as a precaution, only six passengers were allowed in a 12-passenger van

At the Clifton Park Senior Community Center, dances are back but live music will have to wait until September, officials said. At the Saratoga Senior Center, art classes art full and demand is great for exercise classes and anything including food, especially Friday barbecues in the tents behind the building.

. On the whole, center directors report a slow but steady return of their members and attendance at about half the volume they were used to before the pandemic. Saratoga, for example, hosts about 70 seniors a day, compared to 130-150 a day before the height of the pandemic. But, according to director Lois Celeste, “each month, we keep adding.”

The centers never completely closed during the pandemic. They provided take-out meals and delivered groceries and medications; conducted online and outdoor programs; and made an effort to keep in touch with members. On the whole, staff worked from home and no one had to be laid off.

The Queensbury center bills itself as “Seniors on the Go.” The facility normally has a robust travel schedule, including overseas trips, said Stephanie Smith, the development coordinator, who is acting director while the center looks for a replacement for Michele Whitbeck.

By Meghan Murray

It’s unfortunate but true: As we age, we encounter more health-related issues and they carry a price tag that can get pretty high in retirement.

Will you be ready for these costs?

Perhaps your first step in preparing yourself is knowing what you may be facing. Consider this: 80 percent of Americans 65 and older have a chronic condition and 42 percent live with a disability, according to the National Coalition on Aging and the Centers for Disease Control and Prevention, as reported in a recent Edward Jones/Age Wave survey titled “Four Pillars of the New Retirement: What a Difference a Year Makes.” The study also found that retirees’ greatest financial worry is the cost of health care and long-term care—concerns that have increased during the COVID-19 pandemic.

And health care is likely going to be one of the largest expenses in retirement. The average couple might spend $10,000 to $12,000 per year on health care costs. Nonetheless, you can boost your confidence about meeting these costs by making the right moves.

By Jenna Burger
You and your spouse got married, bought a home, and raised three beautiful children. You’ve lived and loved your home for 30 years, but the kids have moved out and started their own families.
Now you’re living in the 2,500-square-foot home, half of which you don’t use other than the five times a year when “the kids” come to visit. The question arises, why do we have all this space when most of it rarely gets used? Does it make sense to downsize? What opportunities can come about if we let this large home go? What are the pros and cons of downsizing as we are planning on retirement?
There is a lot to consider with downsizing. Whether a house, townhome, or apartment, moving to a smaller space can have its challenges, but if planned well, the next chapter of your life can bring less maintenance and more fun. When relocating to a space that is a fraction of the size, there is a great likelihood that you’ll need to reduce the amount of furniture and decor that has been collected over the years.

By David kopyc
In January of this year, I wrote an article about what I anticipated for the stock market in the year 2020. In that article, I mentioned a Black Swan Event and little did I know that it would come to fruition.
The pandemic has had a dramatic impact on investors, employers, employees, deficit spending and the possibility our lives may have changed forever. Words such as social distancing, masks, freedom, travel, congregations, concerts, etc., have all taken on a new meaning to all of us. We will all look back at this event in our lives with different thoughts, opinions, and memories, whether they be good or bad.
As I write this article, the NASDAQ has just hit an all time high, and the Dow and S&P 500 are a few points shy of reaching their all time high. I bring this up because so many individuals went to cash when the pandemic came roaring into our lives and the doom and gloom that was predicted has not come to Wall Street that so many of the Monday Morning Quarterbacks said would happen.

The state Department of Health and state Office for the Aging have developed a five-point plan to help long term care residents and their families access services.
The plan would run through the Office of the State Long Term Care Ombudsman Program and would provide additional resources to residents and families appealing involuntary discharges, expand the ombudsman volunteer program, “reimagine” a multi-agency workgroup to enhance services and provide up to $1 million in funding for long term care facilities to purchase tablets, webcams, headphones, or other accessories to help residents stay connected with family during the COVID-19 crisis and beyond.
“When our loved ones reside in a nursing home, regular communication concerning their care is vital to the advocacy of residents and the peace of mind for their family members,” said State Commissioner of Health Dr. Howard Zucker.

By David Kopyc
Most Boomers do not have a pension plan and need to take their retirement assets they have accumulated over their working careers and create lifetime monthly income.

For most of the boomers the defined benefit pension plan has been replaced by 401k plans that leave the responsibility to you and not your former employer.

Before you make a decision on the investment program that is best suited for your appetite for risk and the ability to weather the storm when markets become volatile, you need to consider the drawbacks of each decision you make.

Never make a hasty decision that is irreversible that you may regret. I’m a major advocate of preparing for this important decision at least three years from your time of retirement. I classify this as the “red zone” of building your baseline retirement income distribution plan.

You need to start taking into consideration social security payments, the size of the pool of money that is going to be used for retirement income, and any other assets that may be calculated into this from savings accounts and any nonqualified assets you have set aside for your retirement years. If you are fortunate enough to have a pension benefit from a former employer, than the benefit selection is critical especially if wish to protect a spouse.

By Susan E. Campbell
In an era when travel arrangements can be made online with the click of a button, one may wonder if brick-and-mortar travel agencies are still relevant.

“Travel agents are more relevant now than we have ever been,” said Stacie Baxter, co-owner and manager of family-operated Heber Travel Services in Queensbury. Baxter said half to 60 percent of Heber’s clients are aged 50-plus.

“My senior clients enjoy researching travel online, but when it comes down to booking their bucket-list safari or even their family vacation, they would rather trust an expert than an app,” she said.

There are different factors when searching for a flight or a cruise or a hotel than 10 years ago, when there were just a few travel apps, according to Baxter.