Category Archives: Senior Living / Retirement

By Matthew Burnell

A key term often heard in investing is “asset allocation”. In simple terms this refers to the percentage of holdings in an investment portfolio to stocks, bonds, and cash. 

Using these broad categories, asset allocation reflects the amount of market risk an investor is comfortable with and is not static over time. Stocks have historically had the greatest risk and highest returns among the three major asset categories. 

Bonds are generally less volatile than stocks but typically offer more modest returns. Cash and cash equivalents such as savings deposits, certificates of deposit, treasury bills, money market deposit accounts, and money market funds are the safest investments, but offer the lowest return of the three major asset categories.

A major factor in the market risk one can tolerate is the investors time horizon. If an investor is young and plans to work for many more years, then typically they are willing to take on more market risk in hopes of better returns. In this case, stocks would be a larger percentage of their portfolio. 

Alternatively, if an investor is closer to retirement, then typically they will have less tolerance for market risk (i.e. more risk averse) since they will be using their retirement assets to fund living expenses in the near future. The more risk-averse an investor is, the more they will want to be invested in “safer” assets, like high-quality bonds and cash. Recommendations vary, but often it is strategic to have a year or two of expenses in cash to begin retirement. 

Tying this to today’s economy, if someone retired at the end of 2021 and needed to take funds from their investment portfolio to live off, they would likely be selling assets at a loss due to the down market.  If they had cash to cover this year’s expenses, this would allow them to stay invested in hopes for a market rebound before raising cash from these assets. In this scenario it would not be prudent to be 100 percent in stocks at the end of 2021 if you were planning to retire at years end and use these funds to supplement retirement income. 

By Christine Graf

Of the more than one million Americans who have died from COVID-19, a staggering 23 percent were residents of long-term care facilities. According to Brian Nealon, CEO of the Wesley Community, these sobering statistics have impacted the way Americans view nursing homes.

“People are looking to age in place even more so than they did prior to the beginning of the pandemic. It’s about ‘How do I stay at home longer?’ It could be the family home that they have been in for 50 years or it could be at one of our apartments at Woodlawn Commons or Embury.”

Located on Lawrence Street in Saratoga Springs, Woodlawn Commons offers 60 market-rate independent senior living apartments as well as 40 assisted living units. The neighboring Embury Apartments provides the local community with 192 subsidized senior apartments. Both complexes are currently at full capacity.

The Wesley Community also has a skilled nursing facility that provides both long-term care as well as short-term rehabilitation. They also offer home care through Wesley Senior Solutions and outpatient physical/occupational/speech therapy through Wesley Outpatient Therapy.  

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 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.

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.

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.

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 Susan Elise Campbell
When time comes for a senior citizen to downsize or enter assisted living, the physical and emotional aspects are more taxing than for someone who had fewer memories connected to their home.
Regardless of age or time spent at their address, many people desire a smooth transition between their current residence and the next place they’ll call home. That is what Barbara Morris set out to provide when she started Smooth Transitions locally in 1998, now a national company with 44 offices.
Keith Reed is president of one—the New York licensee of the company Morris originally incorporated as Moving for Seniors. He said the name was changed to reflect both the broader demographic served and the types of assistance the company has evolved to provide.
Like the company’s founder, Reed said, “My philosophy, too, is to help folks out. With five counties in the Capital District, there are enough people to help around the area.”
His area includes Saratoga and Warren counties and he can also provide service in Washington County if situations arise.

By Susan Elise Campbell
As the 50-plus population continues to rise, communities are experiencing seniors as a vibrant demographic.
This is not a generation for rocking chairs and knitting needles. Today’s retirees are contributing to the economy in unexpected ways, not only rejoining the work force but also traveling extensively and giving generously to charity, officials say. a
In Saratoga County the senior population is one of the fastest growing in the state, according to Lois Celeste, executive director of the Saratoga Senior Center. There are more than 55,000 in this age group who are primarily mortgage-free homeowners with access to assets and credit.
“I am amazed at the number of companies knocking on our door to approach the center and our seniors,” said Celeste. “Businesses are popping up everywhere to serve the senior market. They come from diverse industries like health care, transportation, tourism, financial services, automotive, housing, law, and many others that the older population touches.”

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.

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.