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

Posted onAugust 7, 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.”

In the 2018 and 2022 mid-term elections, the share of voters 50-plus was approximately four times that of voters under 30, (56-15 percent and 59-12 percent, respectively). In the 2020 presidential election, the share of voters 50-plus was nearly three times that of voters under 30 (53 percent-18 percent). 

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Business Report: Care For The Long Term

Posted onAugust 7, 2023
Brian M. Johnson, director, business development, Advisors Insurance Brokers. Courtesy 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.”

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Business Report: Are You On Path To Retirement Readiness?

Posted onAugust 7, 2023
Nathan Gage, retirement plan advisor, Capital Bank.

By Nathan gage

One of the highlights of my role as a retirement plan advisor is also one of the most challenging—helping to make sense of the very abstract retirement planning process. 

There is a seemingly endless list of obstacles standing in the way of figuring out if you are on the path to retirement readiness. When will you retire? How long will your retirement last? What will your monthly budget in retirement be? How will your tax rate in retirement compare to today? How will your investments fair over the next couple of months, years, or decades? 

The list of unknown variables could go on and, if you are not careful, may stand in the way of making wise decisions. In fact, for some, the uncertainty can lead to the worst possible decision—inaction.

Realizing that complexity can be paralyzing, simplifying the retirement planning process encourages savers to take the steps needed to get on the right track. 

One way to help frame the process is in terms of the three main decision points that savers face as they save for retirement. First is how much to save. Next is how to make those contributions, choosing between pre-tax and Roth. The final decision is how to invest their retirement savings. Armed with an understanding of the key questions, we can take a closer look at the main decision points.

How much should you save for retirement? On the surface, this seems like a simple question. In practice, though, getting an accurate answer to this question is quite complex. There are some widely used rules of thumb. One is to set aside 15% of your pay for retirement. 

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Business Report: Still Fighting The Fed

Posted onAugust 7, 2023
Kenneth J. Entenmann, chief investment officer at NBT Wealth Management.

by Kenneth J. Entenmann, CFA

One of the oldest Wall Street adages is “Don’t Fight the Fed.” 

In general, it means when the Fed is raising interest rates, accept that they are and adjust accordingly. The most of the first half of 2023, the markets have not followed that guidance, constantly rejecting the Fed’s every move. The market convinced itself that the Fed’s rate hikes would cause a recession, unemployment would spike, and inflation would come crashing down. The Fed would have to capitulate on its tightening policy activity.

Money flowed into money market and fixed income funds. Money market funds with 5 percent annual yields were attractive and bonds were back. Everyone loved bonds. Yet, year-to-date, the aggregate bond index is up only 2.46 percent. That would be considered good if a recession did in fact occur, but it did not, at least not yet. Equities are supposed to be toxic heading into a recession and most of Wall Street entered 2023 significantly underweight. Six months into the year, the S&P 500 index was up 9.65 percent and the NASDAQ was up over 30 percent. So much for the hated asset class.

The economy continues to lumber on. No recession, but languishing growth. Manufacturing is clearly in recession. Housing is coming to life; the housing shortage is overwhelming higher mortgage rates; the consumer sector remains on fire. A mixed bag, but not a recession.

The employment market continues to be dysfunctional. In June, the unemployment rate was 3.6 percent. The non-farm payrolls were 209,000, less than the 240,000. Importantly, the average hourly earnings were 0.4 percent, higher than expected. It is good news that the payroll numbers have returned to a more sustainable level around 200,000. 

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Chick-fil-A In Clifton Park Opens To Large Crowds; Operator Eager To Help Community

Posted onAugust 7, 2023
This Chick-fil-A restaurant opened in Clifton Park, the first in Saratoga County. In celebration the company donated $25,000 to the Regional Food Bank of Northeastern New York.

By Ann Donnelly

Saratoga County’s first Chick-fil-A restaurant opened on July 20 in Clifton Park Center, with long lines going out the door. 

Before this, fans could only get the iconic chicken sandwich if they were flying out of Albany Airport or traveling to Massachusetts or other parts of New York state.

Chick-fil-A, Inc. selected Scott Payne as the independent franchised owner/operator of Chick-fil-A Clifton Park Center, 304 Clifton Park Center Road. 

“After serving in the Marine Corps for nearly two decades, I was looking to continue serving in a purpose-driven role,” said Payne. “So I pursued the path of becoming a Chick-fil-A operator. From 2015 to 2022, I had the honor of serving as the operator of Chick-fil-A Purcellville in Loudoun County, Va. During this time, I learned the ins-and-outs of the business from a great group of seasoned operators while also discovering the many ways in which Chick-fil-A supports its local community.”

Payne is looking forward to living and doing business in the area. 

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‘Dr. Dan’ Sooriabalan Opens Private Practice In Malta Office; Handles All Patient Care

Posted onAugust 7, 2023
Dr. Danushan Sooriabalan—known as Dr. Dan to many of his patients—charges a monthly fee directly, so patients do not need insurance in order to cover the cost of care.

By Jill nagy

Dr. Danushan Sooriabalan—known as Dr. Dan to many of his patients—expects his new “direct primary care” practice to give him more time with patients and less with paperwork. 

Patients will pay a fixed monthly fee, the amount depending upon their age, for unlimited access to his care.

The doctor, an internist, has been in practice since 2007. He did his internal medicine residency at Albany Medical Center, including a year as head resident, was a hospitalist at Glens Falls Hospital for 10 years, and was part of the Hudson Headwaters practice group. 

In May, he set out on his own with an office at 2452 Route 9 in Malta. 

He said after his first six weeks, he had 87 patients. He aims for a maximum of 300. 

Most of his new patients are from Malta, Clifton Park, Saratoga and other nearby communities. He made no attempt to bring patients from his prior practice “out of respect for my previous employers,” he said.

While he expects to hire a nurse in the near future and uses a third-party company for billing, everything else is “do it myself.” 

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New Owner Of Saratoga Winery In Milton Says Changes Will Be Subtle Ones, Not Major

Posted onAugust 7, 2023August 8, 2023
Anne Brill and her husband, Andrew, bought the Saratoga Winery, where she was once GM.

Correction Applied August 8, 2023

By Christine Graf

After almost three years of serving as general manager of Saratoga Winery, Anne Brill has assumed ownership of the business. 

She and her husband, Andrew, purchased the winery from Rich and Tara Nimmo for $1.4 million on June 15.

Saratoga Winery is located at 462 Route 29 in Milton, just 10 minutes west of downtown Saratoga Springs. 

The winery’s tasting room serves handcrafted wines made on the premises with New York state grapes. They also serve local craft beers, spirits from Saratoga Courage Distillery, and cocktails. Food offerings include wood-fired pizzas, appetizer, salads, and sandwiches. 

Brill grew up in the suburbs of Chicago and met her husband while they were both students at Skidmore College. After graduating, they settled in Chicago but chose to get married in Saratoga.

“We came back to look at venues in 2011, and this was in the height of the economic turn down,” she said. “But Saratoga was still thriving, and we were amazed and impressed by how much the town had grown. In 2014, we decided we wanted to live here full-time.”

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PSG Golf Moves Instruction, Game Simulator Business To Maple Avenue In Saratoga

Posted onJuly 10, 2023
Mike Gerarde has opened an indoor golf facility at 615 Maple Ave., Suite 2, in Saratoga Springs, along with business partner Jeff Boss. The facility has simulator machines and a bar.
Courtesy PSG Golf

By Christine Graf

Less than one year after Mike Gerarde established PSG Golf, he and partner Jeff Boss have opened an indoor golf facility at 615 Maple Ave., Suite 2, in Saratoga Springs.

PSG Golf offers golf lessons to students of all ages and skill levels, and their new facility features two golf simulators, a TopGolf simulator, an indoor putting and chipping green, and a bar. 

Gerarde, a Glens Falls native, began playing golf about 10 years ago while a student at Syracuse University. After graduating and joining his family’s payroll company, Keena Staffing, he found himself entertaining clients on the golf course.

 “The connections you create through the golf course are invaluable, and that’s how I got the idea to start a golf lessons business,” said Gerarde. “A lot of people that I worked with or that I knew didn’t want to get out on the golf course because they thought they weren’t good enough.”

After becoming certified as a golf teacher, he established PSG Golf in July 2022. The business is named in honor of his father, Paul Stephen Gerarde, who passed away when Gerarde was 10.  

Before opening his own facility, Gerarde taught lessons at the Luxury Box in Queensbury and Tarks Indoor Golf Center Saratoga. He then partnered with Jeff Boss, a Capital Region native who has been golfing since he was 10.

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Fans Can Sign Up To Tour Horse Breeding Farms After Breakfast At The Race Track

Posted onJuly 10, 2023
Fans gather at Saratoga Race Track for the popular breakfast event offered by NYRA. This year, a tour of a horse breeding farm will offered three days a week.
Courtesy NYRA

The New York Racing Association, Inc. (NYRA) plans to significantly enhance opportunities for fans to experience the Saratoga Breakfast And Breeding Farm Tour package, which debuted to sold out crowds each Friday in its inaugural season last year.

The track opens Thursday, July 13.

The tour this year will be offered every Wednesday, Thursday and Friday during the Saratoga meet and feature two active thoroughbred breeding farms. The tours will accommodate up to 52 guests each day beginning Friday, July 14, and concluding on Friday, Sept. 1.

The tours will be offered every Wednesday at Song Hill Thoroughbreds, 290 County Road 75 in Mechanicville, and every Thursday and Friday at Old Tavern Farm, 45 Brown Road, in  Stillwater.

The package, presented by the Capital District Transportation Authority (CDTA), features a buffet breakfast at Saratoga Race Course; the opportunity to watch the thoroughbreds during morning training; a round-trip, trolley ride from Saratoga Race Course to the farms; a 60-90 minute guided walking tour of the breeding farm; and admission to Saratoga Race Course.

The package is $85 for adults and $35 for children 12 and under. Tickets are available on a first-come, first-served basis and may be purchased at NYRA.com.

 

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Summer Concert Series Returns To Congress Park Featuring Local, Regional Bands

Posted onJuly 10, 2023

The Saratoga Summer Concert Series has returned to Congress Park for the 2023 season.

People can attend the free shows, bring  blankets and chairs, find a spot on the lawn, and enjoy some of the area’s favorite performers. 

This family-friendly concert series is a program of the Saratoga Springs Heritage Area Visitor Center in partnership with Discover Saratoga and the city of Saratoga Springs.

“We’re thrilled to once again bring you the Summer Concert Series,” said Darryl Leggieri, president of Discover Saratoga. “We have an eclectic mix of great local bands this year. The concerts are family-friendly and welcoming to all, showcasing the amazing artistic talent we are so lucky to have in Saratoga Springs.”

The Saratoga Summer Concert Series will take place Sundays in July and Tuesdays in August. Shows begin at 7 p.m. at the War Memorial in Congress Park and each concert will be approximately 90 minutes. 

Inside the Heritage Area Visitor Center, located at 297 Broadway, will be the concert rain location. 

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