Category Archives: Senior Living / Retirement

Understanding Investment Risk Can Help Investors Reach Long-Term Goals

August 18, 2026

Meghan Murray is a financial advisor with
Edward Jones Financial in Queensbury.

Provided By Meghan Murray

One of the most significant risks investors face isn’t losing money in a market dip; it’s failing to reach their long-term financial goals.

Many people focus heavily on short-term losses in the stock market and try to protect their savings by investing conservatively or avoiding stocks altogether. But that runs the risk that their savings won’t grow enough to keep up with inflation or support future needs.

Understanding what investment risk really means helps you make smarter financial decisions, considering these three key aspects.

Risk tolerance describes your emotional comfort with risk. If you’d want to pull your money out of the market during a downturn, that reveals something about your tolerance. Many financial advisors use questionnaires to help clients understand how they might react in different market conditions.

Risk capacity refers to how much risk you can afford to take. Your timeline matters. A 35-year-old saving for retirement has decades to ride out market swings. A retiree drawing income from their portfolio doesn’t have that same cushion.

Required risk describes how much risk you may need to take to reach your financial goals. Higher returns generally come with higher risk, though higher risk does not guarantee higher returns. If you need strong growth to retire comfortably, you may need to accept more short-term volatility.

Sometimes these elements don’t line up. You might be uncomfortable with risk but need strong growth to meet your goals.

Balance and diversification matter: Finding the right balance matters more than you might think. A small difference in your annual rate of return, from 5% to 7% for instance, doesn’t just add up a little. It multiplies. That’s the power of compounding — returns earning their own returns, year after year, building on an ever-growing base. Over 30 or 35 years, that can become significant.

Independent Living Gains Appeal Among Capital Region Seniors Planning Ahead

August 18, 2026

By Carol Ann Conover

Nearly 80% of adults 50 and older want to remain in their own homes and communities as they age, and that same principle of choice — not obligation — is shaping how and when Capital Region seniors move into independent living, according to a regional advocacy group and two local providers.

“People overwhelmingly want to age in place, and they deserve the supports to make that possible,” said Cam Cardinale, director of external affairs for Southern Adirondack Independent Living, known as SAIL, a Glens Falls-based nonprofit serving older adults and people with disabilities across 17 counties. “At the heart of independent living is consumer choice. Every person has the right to decide where and how they live.” SAIL served more than 7,000 people across 17 counties last year, providing more than 20,000 services that help people remain independent, Cardinale said.

That same emphasis on choice is showing up locally, where Warren and Saratoga county providers say more residents are moving in deliberately and early rather than waiting for a crisis. About 25.9% of Warren County residents were 65 or older in 2024, compared with 21.3% in Saratoga County and 18.9% statewide, according to U.S. Census Bureau estimates compiled by USAFacts.

At The Glen at Hiland Meadows in Queensbury, an Eddy Senior Living community, executive director Andrea Hebert said residents entering every level of care — independent living, enhanced assisted living and memory care — have been arriving older over the community’s 25 years.

“People are just waiting longer to get to each level of care,” Hebert said, “and people are healthier longer, which is a positive thing.” More residents are also planning ahead instead of waiting for a crisis. “We’ve had people move in and say, ‘I do not know why I didn’t do this sooner,’” she said, “and we have people who tell others who are considering residency: Do it now, don’t wait.”

RLGC Law Group Explains How Families Can Prepare Secure Access To Digital Assets

August 18, 2026

Debra A. Verni, Senior Counsel RGLC Law Group.

By Debra A. Verni

We live our lives on computers and online, storing assets digitally. If you died tomorrow, could your family get into your physical and online accounts? If your funeral needed to be planned tomorrow, how would they do that? Are all your photos on your phone or computer? Who knows your passwords?

Cellphones can help or hinder loved ones trying to access personal and financial accounts. Some cellphones offer facial recognition or biometrics, such as fingerprints, to sign in, and some applications can use those methods instead of a password. What happens when “facial access” or biometrics are no longer available?

The best thing you can do for your loved ones is give them a list of your assets and passwords, or at least tell them where to find the information they need after you die or become incapacitated.

When my mom passed away, my sister and I flew to Missouri to wrap up her estate. My sister asked if I had the garage code because my aunt had locked the house and taken the keys after my mom’s death. Luckily, my mother had given me the garage code, so we were able to get into the house. We collected all of mom’s electronics, computers, cellphone, iPad, etc., and then looked blankly at each other because neither of us knew how to access them. As you know, the devices only give you a few attempts at the passcode and then they lock you out. We decided that the code from the garage was the key. We tried various combinations of the numbers from the garage code, and luckily for us, they worked. We were able to access all my mom’s accounts and personal information and contact account holders, friends and family. As I said, we were lucky; most people are not.

For those who think there is a website where you can find a list of all your loved one’s assets and digital information, or that you can access their information with a Power of Attorney if they are incapacitated or a death certificate after they die, that is simply not true.

Legacy Planning Partners Is A Family-Run Business That Puts Its Clients First

August 19, 2024

Dan Hazewski Sr (left), who established Legacy Planning Partners in 1985, has turned much of the day-to-day operation over to Dan Hazewski Jr.

By Christine Graf

For almost four decades, Legacy Planning Partners has been serving clients in Glens Falls and beyond. Established in 1985 by Dan Hazewski Sr., the family business offers a variety of services including investment management, estate and retirement planning, 529 college saving plans, IRAs, and personal and business financial planning.

“You name it, we do it,” said Hazewski, noting that the firm also does pro bono work in the local community.

Before opening Legacy Planning Partners, he and his wife, Jan, operated several local businesses. Old-timers may remember the Snack Store, a business the couple opened in 1975.

“We leased a gas station on the Northway (exit 16) and put a convenience store in it. We sold gasoline, food, snacks, and we had a delicatessen in it,” said Hazewski. “If I had been smarter, I could have had a huge franchise. Stewart’s was just getting going with theirs.”

Senior Citizens Are The Largest Demographic Buying Well Equipped Recreational Vehicles

August 19, 2024

Recreational vehicles fitting a variety of lifestyles and budgets are available at Alpin Haus’s four locations, a family business currently operated by Andy Heck.

By Christine Graf

More and more Americans are taking to the roads in RVs, with upwards of 45 million people vacationing in RVs this summer. More than 11 million households own recreational vehicles, and approximately 1 million Americans live in their vehicles full time.

According to industry statistics, RV sales are strongest among the 55-64 age group, this demographic representing 20 percent of all sales. Millennials (ages 18-34) come in second, accounting for 15 percent of purchases. Tied for third at 13 percent are the 65-plus age group and the 35-44 age bracket.

“Age 50-plus is the sweetest spot for us for sure,” said Andy Heck, president of Alpin Haus. “But 35 to 50 is also doing well. Things do tail off at 65-plus.”

Established by Heck’s father, Bud Heck, and his friend John Daly, Alpin Haus opened its first store in Amsterdam in 1964. Today, the family-owned business has 275 employees spread across six locations. Stores offering RVs are located in Amsterdam, Saratoga, Orange County, and Oak Ridge, New Jersey.

“We started as a ski shop and then got into selling RVS. Then, we added swimming pools and in the late 90s, we started adding locations,” said Heck.

Activities At Area Senior Centers Keep People Active And Engaged In Their Communities

August 15, 2023

The Glens Falls Senior Center offers members access to a well-equipped wood shop.
Courtesy Glens Falls Senior Center

By Christine Graf

Research shows that older adults who participate in senior center activities have higher levels of health, social interaction, and life satisfaction than their peers. Locally, the Glens Falls Senior Center and the Queensbury Senior Center are enhancing the quality of life for more than 2,000 members.

Located at 380 Glen St., the Glens Falls Senior Center has 642 members. Memberships cost just $30 per year, and the center receives funding from City of Glens Falls, the Warren County Office of the Aging, the Town of Queensbury, and the Tri-County United Way.

Glens Falls Senior Center Executive Director Kim Bren believes that senior centers play a vital role in the community, helping seniors to stay active and engaged and to meet new people. She works to dispel the notion that senior centers are filled with people sitting around playing Bingo.

“People say, ‘I don’t want to sit around and do nothing,’” she said. “That’s not who we are. We are a very active center. One of the hardest things is getting that awareness out.”

Stephanie Smith, director of Queensbury Senior Center, agrees. She believes that staying active and engaged is the key to aging well.

Business Report: Care For The Long Term

August 15, 2023

Brian M. Johnson, director, business development, Advisors Insurance Brokers.

Brian M. Johnson, MBA, CLTC

When it comes to where and how you live, and what you do with your money, you want the freedom of choice and confidence that you’re making the right decisions.

The same is true with your long-term care strategy, helping you set the stage for the future and the legacy you have planned.

Long-term care is quite simply assistance with simple everyday tasks, even as simple as eating or getting dressed. The need for care could arise from an accident, illness, cognitive impairment, or the aging process. You may never need it.

But, the best time to start thinking about it is before the need arises and while you’re still able to take control. Many Americans work hard, save diligently for retirement, yet fail to address the single biggest risk to their portfolio and families: extended healthcare.

When it comes to long-term care, do not be swayed by common misconceptions such as:

• “It won’t happen to me.”

People unrealistically downplay their personal risk. Seventy-nine percent of people put off discussions about long-term care, but 98 percent of financial professionals say they have clients who have needed it. In fact, being healthy presents even a higher risk of needing long-term care services than someone who is managing chronic a condition.

• “Medicare or Medicaid will cover me.”

If qualified, Medicare will likely be insufficient for long-term care needs and Medicaid does not account for your choices or preferences, and one must financially qualify for benefits.

• “That’s what my savings are for.”

Business Report: Pre-Retirement, 12-Month Checklist

August 15, 2023

Bill Canty, CPA, CFP, founder, CFM Tax and Investment Advisors.

By Bill Canty, CFP, CPA

The period leading up to your retirement is a critical time to ensure that you have your financial plan in place as you enter retirement. Financial planning doesn’t stop once you retire, things change and your need to stay on top of things and adjust as needed.

This is the focus of much of our work with clients approaching and in retirement.

Here is a checklist of items to review during the 12 months leading up to retirement.

Retirement budget. One of the most important things to do during this period is to formulate a retirement spending budget. This will drive almost everything else that you do financially in retirement. This budget should take into account your normal monthly costs plus money to cover things like travel or other activities that you plan to do in retirement.

Sources of retirement income. During this period it’s important to identify all sources of retirement income that you can tap. This might include many of the following:

Employer retirement accounts such as a 401(k), 403(b), Thrift Savings Accounts (TSP), or deferred Compensation; IRA accounts, both traditional and Roth; taxable investment accounts; real estate.

Depending upon your situation there may be additional sources of income to consider as well. It’s important to be sure that you have your arms around all potential sources of retirement income, and how much income you might generate from each of these sources. Additionally, you will want to be sure that you understand the tax implications of tapping each of these income sources.

AARP Study Says Voters Over 50 Can Be Pivotal In Upcoming Elections Across The U.S.

August 15, 2023

Candidates who support the issues most important to Americans ages 50-plus can improve their margin significantly in close 2024 races, according to a new AARP poll.

The poll, which surveyed likely voters from the 40 most competitive congressional districts, found caregiving to be a pivotal top issue for voters 50 and over. Americans 50 and over are the largest—and perhaps the most crucial—voting bloc, said AARP.

While the poll shows that voters 50-plus say candidates’ stances on Social Security and Medicare are very important factors impacting their vote next November (81 percent and 77 percent, respectively), 70 percent of these voters want candidates to support policies to help older adults live independently at home as they age.

Thirty-eight percent of voters are currently caregivers, a number that doubles when those who have been one in the past or expect to be one in the future are included. Democrats have an advantage over Republicans among voters 50-plus on caregiving (44 to 38 percent), but in a generic congressional ballot, more caregivers today vote Republican over Democrat (49 to 38 percent). Over two-thirds (67 percent) of voters 50-plus also rate the cost of prescription drugs as a very important issue, with Democrats leading by just three points (42-39 percent) on their perceived handling of this issue.

“Caregiving and the cost of prescription drugs could very likely be the most important issues of the upcoming election cycle,” said Nancy LeaMond, AARP executive vice president and chief advocacy and engagement officer. “Candidates can’t afford to ignore the issues that matter to the 50-plus—who will likely be the decisive voting bloc in 2024—especially in an election cycle where control of Congress and the White House are both up for grabs.”

Even With Vacation Prices Rising, Area Travel Agents Say People Will Pay The Price

August 15, 2022

Stacie Baxter at Heber Travel says there has been a high demand for travel.

By Andrea Harwood

The cost of vacation travel has gone up significantly. But Dawn Biddiscombe, owner and operator of Premier Plus Travel & Tours in Glens Falls, has seen an increase in business and says people are willing to pay the price.

“People are paying more now without questioning price”, said Biddiscombe.

Travelers know that prices are expected to be higher than ever, especially considering the cost of gasoline and diesel fuel, she said. In previous years, clients may have taken time to think over the cost of trips. Now, they book trips as they come available because of an inventory shortage.

“Everyone wants to travel,” said Biddiscombe. “Popular places are in Europe right now. It used to be Mexico and the Caribbean, which is still somewhat popular. Now, people want to do something more unique.”

Stacie Baxter, sales manager at Heber Travel Services in Queensbury, sees a high demand for travel as well.

“People are going everywhere,” she said. “I’m doing a lot of planning for Africa and South America for the end of the winter months.”

Biddiscombe said Europe is struggling to keep up with travel demand. Ireland, Greece and Italy, including the Maltese Coast, are all in demand as travel destinations. Spain is also one of the top requests. She has people asking to go for longer stays, and they are willing to pay more money.