Category Archives: Senior Living / Retirement

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For most of the boomers the defined benefit pension plan has been replaced by 401k plans that leave the responsibility to you and not your former employer.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