EXPO Line Dancing

May 10, 2012  
Filed under Arts & Entertainment, Things to do

The Largest Summer Event for Baby Boomers and Seniors in Vermont!

Free Admission!

Vermont Maturity Magazine is proud to present the 1st ANNUAL Central Vermont 50+EXPO on Saturday, June 9, 2012 at the Killington Grand Resort Hotel & Conference Center in beautiful Killington, Vermont from 9:30am-4pm!

The EXPO is open to all ages and offers a wide variety of exhibitors, art workshops, seminars, live entertainment, silent auction, wine tasting $5, microbrew tasting $5, great giveaways including tickets for two to see the Boston Red Sox and the New England Patriots, plane tickets to Boston and much more!

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EXPO Line Dancing

Move, groove and have some fun!

Oscar Ballroom • 10:30 a.m.

At 10:30 a.m., it is time to kick up your heels with the Groovey Grannies. Have a great time, learn some new steps and get in a little exercise! (Stock photo)

Get your heart rate up and have some fun with line dancing.

Dance instructor Marilyn Sheldon and the Groovey Grannies will demonstrate a few dances, choreographed to a mix of different music, and invite participants to join in.

Line dancing has been around for centuries, and top hits and ‘50s favorites make it fresh and energized. There’s a style and pace to suit all ages and skill levels, and the dances are easy to learn. Plus, you don’t need a partner. It’s a fun, social way to get moving!

Sheldon teaches several dancing classes at the Godnick Center in Rutland, Vt. She taught physical education at Green Mountain College for decades, and has always loved dancing.

The dancing begins at 10:30 a.m. in the Oscar Ballroom.

EXPO Silent Auction

May 10, 2012  
Filed under Things to do

The Largest Summer Event for Baby Boomers and Seniors in Vermont!

Free Admission!

Vermont Maturity Magazine is proud to present the 1st ANNUAL Central Vermont 50+EXPO on Saturday, June 9, 2012 at the Killington Grand Resort Hotel & Conference Center in beautiful Killington, Vermont from 9:30am-4pm!

The EXPO is open to all ages and offers a wide variety of exhibitors, art workshops, seminars, live entertainment, silent auction, wine tasting $5, microbrew tasting $5, great giveaways including tickets for two to see the Boston Red Sox and the New England Patriots, plane tickets to Boston and much more!

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EXPO Silent Auction

The Vermont Alzheimer’s Association will present a silent auction, with 100 percent of the proceeds benefiting their work.

After learning the latest in health, travel and wellness at the EXPO, get inspired at the Alzheimer’s Association, Vermont Chapter silent auction. From weekend getaways to Vermont products, the silent auction has everything you need to bring excitement to your summer.

Don’t miss out on all the silent auction has to offer! All proceeds will support statewide programs and services provided by the Alzheimer’s Association, Vermont Chapter. For more information on the Association, call 1-802-316-3839 or call the 24/7 Helpline at 1-800-272-3900.

The Silent Auction will begin at 9 a.m. and close promptly at 2 p.m.

Items will be available for pick-up at 3 p.m.

Auction Items include… Value
Choices Restaurant gift certificate $50
Pizza Jerks gift certificate $50
Grist Mill gift certificate $50
Sun-up Bakery gift certificate $25
Pico Tickets -(6) 1-day lift tickets $300
Northern Ski Works – (2) ski tunes $90
Killington – Double Diamond Women’s Med Soft Shell Jacket $100
Killington – Oakley Goggles – Jet Black – Unisex $130
Killington – Smith – Optic Sunglasses – Unisex $159
Accents and Images – Killington Black Diamond Tour T-shirt & Killington Hat $40
Effie Dudley – Bangled Bracelet Set $35
Summit Lodge – 2 nights lodging $200

EXPO Art Workshops

May 10, 2012  
Filed under Arts & Entertainment, Things to do

The Largest Summer Event for Baby Boomers and Seniors in Vermont!

Free Admission!

Vermont Maturity Magazine is proud to present the 1st ANNUAL Central Vermont 50+EXPO on Saturday, June 9, 2012 at the Killington Grand Resort Hotel & Conference Center in beautiful Killington, Vermont from 9:30am-4pm!

The EXPO is open to all ages and offers a wide variety of exhibitors, art workshops, seminars, live entertainment, silent auction, wine tasting $5, microbrew tasting $5, great giveaways including tickets for two to see the Boston Red Sox and the New England Patriots, plane tickets to Boston and much more!

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EXPO Art Workshops

Escapade Meeting Room

Bring some color and creativity to your day with a series of exciting art workshops presented by the Killington Arts Guild. Each workshop will last approximately 30 minutes, and will give participants a chance to experience a variety of art forms. Local artists and art lovers formed the Killington Arts Guild more than 15 years ago to promote art as an enriching part of everyday life. The artists will also have displays set up before and after the workshops.

10 a.m. Burnished Photography with Sally D. Curtis

Sally D. Curtis

Sally D. Curtis will demonstrate techniques using colored pencils to enhance photos.  Curtis is the president of the Killington Arts Guild, and works in several mediums. Traveling is a major passion, and her travels have led her to Europe, Hawaii, Australia, China, Costa Rica, and most recently, Chile. Burnished photography is an ideal art form for travelers, since it is a dry process and requires minimal equipment. After a quick demonstration of techniques, participants will have a chance to try burnishing their own photos.

11 a.m. Pastels with Alice Sciore

Alice Sciore

Graphic designer and fine artist Alice Sciore will hold a design workshop using pastels. Sciore is the vice president of the Killington Arts Guild and director of its art gallery. She is also involved with the Chaffee Art Center, the Vermont Watercolor Society and the National League of American Penn Women. Along with her design work, she paints in watercolors and oils, and also creates wood and clay sculptures.

12 p.m. Watercolors with Maurie Harrington

Maurie Harrington

Killington-based artist Maurie Harrington will lead a watercolor workshop. Harrington draws inspiration from nature, from vibrant flowers to quiet snowy hillsides. Her work features impressionist styles created using a wet-into-wet technique and large brushes. Her artwork is displayed throughout New England, as well as several international galleries. Harrington will demonstrate composition planning, color mixing and methods of creating a dynamic painting.

1 p.m. Scherenschnitte with Edie Johnstone

Edie Johnstone

Edie Johnstone presents a workshop on scherenschnitte, creating intricate design through paper cutting. Johnstone is a graduate of Brown University and Tyler School of Fine Arts, and is a former art teacher. Over the years, she has worked with a variety of media, but turned to scherenschnitte in 1985, creating her own designs for framed work and cards.

2 p.m. Oil painting with Nancy Nyerling Pisano

Nancy Pisano

After years of teaching art in New Jersey, Nancy Nyerling Pisano enrolled in Parson’s School of Design to get back to creating art for herself. Most of her paintings reflect her love of the outdoors. Since moving to Vermont, she has been inspired by the state’s natural beauty, as well as local artists. Oil painting workshop participants will have a chance to paint designs on nostalgic maple sugaring sap buckets.

EXPO Seminars

May 10, 2012  
Filed under Things to do

The Largest Summer Event for Baby Boomers and Seniors in Vermont!

Free Admission!

Vermont Maturity Magazine is proud to present the 1st ANNUAL Central Vermont 50+EXPO on Saturday, June 9, 2012 at the Killington Grand Resort Hotel & Conference Center in beautiful Killington, Vermont from 9:30am-4pm!

The EXPO is open to all ages and offers a wide variety of exhibitors, art workshops, seminars, live entertainment, silent auction, wine tasting $5, microbrew tasting $5, great giveaways including tickets for two to see the Boston Red Sox and the New England Patriots, plane tickets to Boston and much more!

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EXPO Seminars

Gateway Meeting Room

The Central Vermont 50+ EXPO is proud to offer a series of informative seminars specially designed for Vermonters age 50 and older. A variety of experts will present 45-minute seminars on subjects that impact our daily lives.

10 a.m. Phone Services for the hearing/speech-disabled

Vermont Relay representatives will provide an overview of this unique phone service, which allows individuals with hearing loss to utilize special CapTel phones to read what a caller is saying during a conversation. There will be a demonstration on how to use the phone, along with a discussion about who can benefit from it. Additional phone equipment will be available to review, as well as information on how qualified Vermonters can get certain phone equipment for free. This is a “must-see” seminar if you or a loved one is hard-of-hearing, deaf or speech-disabled and looking for an easier way to communicate with family and friends.

11 a.m. Health Coverage After Retirement

Jill McDermott

Are you turning 65 or retiring soon? Do you have questions about Medicare? Jill McDermott will lead BCBSVT’s presentation and provide general information about how Medicare Parts A & B work, as well as how to be sure you’re covered when Medicare requires deductibles and coinsurance or you exceed its maximums. She’ll also discuss Medicare Part D, a program through which the federal government teams up with private carriers to cover prescription drugs. After the presentation, Jill and other BCBSVT representatives will answer questions from the audience and have one-on-one discussions with people who have specific questions about their Medicare coverage needs and options.

12 p.m. Comparing Travel package Options

Vermont’s Green Mountain Tours owner Bill Greenwood will explain how to compare travel package options to help you determine your best travel value.

Presenter Bill Greenwood has been traveling for 52 years. He has been to 49 countries, all 50 states and across Canada. He is more than qualified to be your tour director.

1 p.m. Meeting the Needs of the Sandwich Generation

Michael Morera

Baby boomers are rapidly becoming part of the ever-growing “Sandwich Generation,” with not only teenage or college-age children to care for, but also aging parents who require some level of support and care. This population is also faced with trying to plan for retirement in an economy likely to include higher inflation, taxation and volatility. Experienced financial consultant Michael Morera will outline the challenges and potential solutions facing the Sandwich Generation, including dealing with an unknown economy, caring for an aging parent, converting savings into a stable income and how grandparents can help with college.

2 p.m. Dating in Vermont

Nicole LeClerc

Dating expert and matchmaker Nicole LeClerc of Compatibles will present a seminar focusing on today’s world for mature daters. She will present common misconceptions, new approaches and an intense concentration on “realism” within dating for better connections. Movies, books and television commercials convince daters that the storybook fantasy is real romance. The pursuit of a romantic relationship should be fun and based in reality, not fantasy. This seminar will inform daters who are seeking a realistic approach to successful dating — what this means and how to get in the right mind-set for the ultimate result — your own real love story.

EXPO Wine & Microbrew Tasting

May 10, 2012  
Filed under Food, Things to do

The Largest Summer Event for Baby Boomers and Seniors in Vermont!

Free Admission!

Vermont Maturity Magazine is proud to present the 1st ANNUAL Central Vermont 50+EXPO on Saturday, June 9, 2012 at the Killington Grand Resort Hotel & Conference Center in beautiful Killington, Vermont from 9:30am-4pm!

The EXPO is open to all ages and offers a wide variety of exhibitors, art workshops, seminars, live entertainment, silent auction, wine tasting $5, microbrew tasting $5, great giveaways including tickets for two to see the Boston Red Sox and the New England Patriots, plane tickets to Boston and much more!

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2-3:30 P.M. – OSCAR BALLROOM

Don’t miss the Central Vermont 50+ EXPO’s exclusive wine and VT microbrew tastings. Tickets are limited—only 100 wine tastings and 200 microbrew tastings available—so arrive early!

Stop by the Vermont Maturity Booth (# 4) in the Oscar Ballroom to purchase tasting tickets, available for $5 each while supplies last.

Wine tasting – $5 fee

Try a selection of premium wines from a variety of celebrated vineyards:

• St. Francis Chardonnay (Sonoma, CA). A crisp Chardonnay with fresh flavors of butterscotch and pineapple from the traditional California vineyard. Perfect for a summer afternoon.

• Chateau Ste. Michelle Riesling (Washington). A bold-flavored wine complemented by hints of sweet lime and peach.

• Graffigna Malbec (Argentina). Take a trip to South America with an intense, complex malbec. A velvety wine with berry aromas.

• St. Francis Cabernet Sauvignon (Sonoma, CA). A classic, rich red with subtle black currant flavors.

VT Microbrew Tasting – $5 fee

Sample some of Vermont’s most popular microbrews:

• Long Trail Blackberry Wheat (Bridgewater). Vermont’s quintessential summer beverage, a refreshing golden beer with just a hint of fruit.

• Long Trail Brewmaster Series Coffee Stout. Part of Long Trail’s limited-release specialty line, made with Vermont Coffee Company’s fair trade, organic coffee. A rich and satisfying gourmet stout.

• Switchback (Burlington). Vermont’s favorite draft-only amber ale, smooth and clean.

• Harpoon IPA (Windsor). Strong hoppy flavors and a clean finish shine through in Harpoon’s flagship beer.

EXPO Trips & Giveaways

May 10, 2012  
Filed under Travel

The Largest Summer Event for Baby Boomers and Seniors in Vermont!

Free Admission!

Vermont Maturity Magazine is proud to present the 1st ANNUAL Central Vermont 50+EXPO on Saturday, June 9, 2012 at the Killington Grand Resort Hotel & Conference Center in beautiful Killington, Vermont from 9:30am-4pm!

The EXPO is open to all ages and offers a wide variety of exhibitors, art workshops, seminars, live entertainment, silent auction, wine tasting $5, microbrew tasting $5, great giveaways including tickets for two to see the Boston Red Sox and the New England Patriots, plane tickets to Boston and much more!

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Win a flight for two to Boston!

Cape Air will give away two round-trip tickets from Southern Vermont Regional Airport in Rutland to Boston’s Logan International Airport.

Tickets expire June 9, 2013.

(Trip value -$300)

Enter to win at Vermont Maturity Booth 4.

Win an Exciting Theatre Package featuring ‘Fiddler on the Roof’ at the Weston Playhouse

Visit Vermont’s Green Mountain Tours booth (# 33-34)and register to win!

Fiddler on the Roof was the first Broadway musical to surpass a 3,000 performance run after opening in 1964. This heart-wrenching yet funny musical has won nine Tony Awards.

PACKAGE FOR TWO INCLUDES:

  • Reserved orchestra seating
  • Lunch and Dinner
  • Round-trip transportation aboard Premier Motor Coach

(Trip value -$300)

Central Vermont 50+ EXPO — Schedule

May 10, 2012  
Filed under Things to do

Saturday, June 9, 2012 • 9:30 a.m. – 4 p.m. Killington Grand Resort Hotel & Conference Center, Killington

Schedule at a Glance:

Live entertainment ~ Ovations at Killington

11 a.m. – 1 p.m. World-renowned Celtic group Gypsy Reel

1:30 p.m. – 3 p.m. The Potluck Folk Singers

Dancing, wine & giveaways ~ Oscar Ballroom

10:30 a.m. – 11 a.m. Line dancing demonstration and lessons

2 p.m. – 3:30 p.m. Wine and Vermont microbrew tastings

9:30 a.m. – 3:30 p.m. Sign up for giveaways at Booth 4

Silent Auction ~ Northstar Ballroom

9 a.m. – 2 p.m. Silent auction to benefit the Alzheimer’s Assoc., Vermont Chapter

Art Workshops ~ Escapade event room

10 a.m. – 10:30 a.m. Burnished photography with Sally D. Curtis

11 a.m. – 11:30 a.m. Pastels with Alice Sciore

12 p.m. – 12:30 p.m. Watercolors with Maurie Harrington

1 p.m. – 1:30 p.m. Scherenschnitte with Edie Johnstone

2 p.m. – 2:30 p.m. Oil painting with Nancy Nyerling  Pisano

Informative seminars ~ Gateway event room

10 a.m. – 10:45 a.m. Phone Services for the Hearing/Speech-disabled

11 a.m. – 11:45 a.m. Health Coverage After Retirement

12 p.m. – 12:45 p.m. Comparing Travel Package Options

1 p.m. – 1:45 p.m. Meeting the Needs of the Sandwich Generation

2 p.m. – 2:45 p.m. Dating in Vermont

The Grand Memory Care Project

May 10, 2012  
Filed under Aging Parents

By Susan Green

Rebecca Stearns and Janet Stambolian. (Photo by Susan Green)

Imagine your cognitive abilities are fading and what’s happening in your brain also restricts your eyesight, including the ability to differentiate some objects. Mashed potatoes on a white plate on a white tablecloth might not even register as food, no matter how hungry you feel.

This is the scenario that Rebecca Stearns describes when talking about what can happen to people with Alzheimer’s disease or other forms of dementia. “They often lose peripheral vision and depth perception,” she explains, “So, color and contrast become very important.”

Her mission as a vice-president and director of development of Grand Senior Living, a Charlotte-based company, is to create environments that help compensate for what the degenerative condition takes away.

“Normally, we require only 40-to-45 candlepower (also known as candela) lighting to see well indoors,” Stearns notes. “Those with Alzheimer’s need double that, 85-to-90 candlepower. And we use bright, contrasting colors everywhere instead of pastels.”

By “everywhere,” she means inside the innovative assisted living facilities for seniors, referred to as “communities,” that her firm develop, advise and/or manage.

In partnership with Mackenzie Architects in Burlington for the last two years, Stearns and her colleagues launched the Grand Memory Care Project, intended to generate alternatives to the traditional assisted living situations and skilled nursing homes where people with Alzheimer’s frequently must live.

Nursing homes often have staffs trained in medical procedures, but they may not be particularly adept at coping with dementia patients. Assisted living facilities tend to lack enough security for people who might wander away.

“For many seniors with dementia, the needs are less clinical and more social,” explains Janet Stambolian, director of business development at Mackenzie Architects. “We’re offering another path that delivers the necessary services in a secure setting. Grand Memory Care broadens the pool of viable options.”

The partners are awaiting word on federal funding to support a process in New England that would demonstrate the efficacy of their plans. Their goal is to design and build five “person-centered memory care neighborhoods in a secure setting” that would house 12-to-18 residents in separate apartments, a conversion inside an existing structure with underutilized space.

The premise is that their innovations can keep costs considerably lower and provide compassionate support in a more appealing environment. “This is not just about how pretty a place looks,” Stearns says. ”It’s so residents can be as independent as possible. We can’t help them find their memories, but we can teach our staff to help them be more successful on a daily basis.”

Vermont is considered the second “grayest” state in the nation; by 2020, an estimated 20 percent of the population will be 65 or older. And Baby Boomers are on the cusp of this healthcare-crisis horizon. “They call it ‘the silver tsunami,’” Stearns says.

Experts believe that 11,000 Vermonters older than 60 — or 9 percent of the population — will eventually experience dementia. Of 6,789 nursing home residents here, 47 percent suffer moderate to severe impairment due to dementia.

Grand Memory Living — co-founded by CEO Dan Hassan and under the umbrella of his HMS Windward business — tries to address the daunting issue of sheltering seniors with this condition. The company already handles various tasks for Grand Memory Care communities in a handful of states, though not yet Vermont, and looks forward to starting others from scratch in an ownership capacity.

In the management-only category, “there’s one opening in Virginia on May 21 that we’ve been working on with the developer,” Stearns says. “And we just broke ground in Woburn, Massachusetts.”

Asked how Grand Memory Care dwellings will differ from other programs in the region, Stearns points out that the idea is to “know who this person was before the disease struck, hire a a highly-trained staff and provide habilitation therapy (not rehabilitation, which currently is not possible with the disease). We can’t change the outcome of Alzheimer’s yet, but there’s a lot that can be done to make their lives better.”

Noise reduction, to protect people who are easily startled, is another example of small things that make a difference. ”We stay one step ahead to avoid the triggers that might bring on agitation,” Stearns says.

Grand Memory Care communities do not adhere to what Stambolian calls “the medical model,” which tends to be much more expensive.

For instance, instead of sending an agitated resident to the hospital emergency room in an ambulance, “we hope to already have information about people from their families so we understand why they may be acting that way,” Stearns says.

“By knowing who they are, things can be done in advance to prevent extreme measures,” adds Stambolian, who works with architect Stephen Mackenzie at their Battery Street offices. “This is a way more holistic approach,” she suggests.

Stambolian displays the blueprint of a prototype 13,050-square-foot assisted living community with a sort of elongated oval, open shape that allows the staff to more easily see what’s going on throughout the complex. This specific scheme is more likely applicable to future Grand Memory Care efforts undertaken with Stearns and Hassan to fashion new free-standing structures they would develop from the get-go. Or the design could be sold to other healthcare entities.

Meanwhile, they’re all anxious to hear whether or not their 70-page application for a $11.4 million, three-year grant — part of a $1 billion federal healthcare initiative — has been approved.

If so, Grand Memory Care will employ a retrofitting approach to offer “a better way to make assisted living more affordable” for Medicaid recipients at five test sites in Vermont, New Hampshire and Massachusetts. The money would not be spent on bricks and mortar. Instead, they’ll seek underutilized spaces at existing nursing homes or assisted living facilities.

“We’d take over a wing and design it to our specifications,” Stearns explains. “We’ll bring in our own teams.”

Moreover, the savings might be substantial. The cost for Grand Memory Care, according to Stearns and Stambolian, would average $125 a day per resident versus about $196 a day in the region at the moment.

And the whole country, if not the whole world, will be watching. Nationwide, the number of Medicaid recipients with dementia in skilled nursing homes was 418,945 as of 2011. If just 10 percent of them are transferred to an assisted memory care program, Stearns and Stambolian contend, the annual savings for Medicaid could be more than one billion dollars.

While there’ll be no mashed potatoes on white plates on white table cloths, Grand Memory Care seniors can benefit from recreational and cultural activities geared to feed the soul even as the mind fades.

“Meals would focus on a heart- and brain-healthy diet,” Stambolian says. “Residents will be able to participate in music, art and even gardening. We emphasize what they can do rather than what they can’t do.”

Among other things, what they can do is not disappear in the hustle-bustle of contemporary life.“Other societies take care of their elders,” Stearns acknowledges, stressing that there’s a lot more at stake than saving money. “It’s important to bring seniors back to the center of our communities, respecting and honoring them.”

When Can I Retire?

May 10, 2012  
Filed under Money

By Luke Baynes

In today’s economy, it is often difficult to determine just how big one’s nest egg needs to be in order to retire. (Stock photo)

There was once a time, in the not-too-distant American past, when a fellow needed only to pack a lunch pail and punch the clock when the whistle blew, and after 40 years of hard work he could expect a rocking chair by the fire and a financially comfortable retirement.

Times have changed.

“The three-legged stool of retirement (social security, pension and savings) for that older generation has been disrupted,” said South Burlington-based financial adviser Daniel Streeter. “A lot of companies have overpromised and underdelivered on their pension plans, and that’s only going to get worse. The day of reckoning is coming for pension plans as well as social security.”

Although many economists don’t predict a shortfall in the federal social security system for another two decades and many company pension plans have been rolled into retirement plans, the imminent reality that the three-legged retirement stool will be reduced to a one-legged swivel chair has resulted in a generational shift in fiscal thought.

“I think the reality has set in for the younger generation that they – and they alone – are responsible for their security in their retirement,” Streeter said. “Nobody else is going to provide that for them.”

Don Dempsey, a Williston-based financial planner, had similar sentiments.

“I think the message, especially for younger people, is no one’s going to do it for you,” Dempsey said. “You don’t need to read the Wall Street Journal every day, you don’t need to follow the stock market, but people can do very well with just buying a low-cost index mutual fund and just averaging in over time.”

ANNUITIES

For many people nearing retirement, the question is simple: how do I replace the income from my salary when I’m no longer drawing a paycheck?

Toward that end, many advisers recommend annuities, of either the immediate, fixed, variable or equity-indexed variety – often with a lifetime guaranteed income rider attached for the latter two categories. Although immediate annuities most closely mimic pensions, the other forms of deferred annuities offer greater earnings potential – with commensurate risks attached.

Fixed annuities aren’t subject to the up-and-down roller coaster of the stock market, but they carry inflation risk. Variable annuities often come with guaranteed income riders to combat market risk, but the rider comes at a cost, and the income stream is based upon the claims-paying ability of the financial institution and can only be accessed in set payments. Equity-indexed annuities, while they won’t lose money in the market, can have zero gain in a down year and can have their caps and participation rates reduced by the insurance company in affluent market conditions.

In most cases, annuity contracts have penalties for early withdrawals – making them unsuitable as a large portion of a person’s overall portfolio – although as part of a diversified asset mix, annuities can help replace income shortfalls in retirement.

REDUCE DEBT, SAVE MORE

Although opinions vary as to the best means of preparing for retirement (traditional versus Roth IRAs, stocks and bonds versus mutual funds, fixed versus variable annuities, etc.) most financial planners agree on two basic principles: reduce debt, and save as much money as possible.

“There’s no one solution for every person,” said Streeter. “It’s just a matter of getting them to acknowledge their current reality and then to get them to move in the direction of making progress.”

For Dempsey, debt is one of the biggest deterrents to a successful retirement.

“Generally, my philosophy is even though interest rates are so low, I don’t like debt in retirement,” Dempsey said. “A retired person is not going to want to be all in the stock market, so if some of the money is in bonds making 2 percent and you’re paying off a mortgage at 4 percent, how does that make sense?”

Even with proper debt management, South Burlington-based financial planner Josh Patrick said the trend is that more people are now working past the “normal” retirement age of 65.

“I think it’s probably a good idea to think you’re going to work until your mid-70s,” Patrick said. “It might be worthwhile when you’re in your 50s to think about what your ‘retirement profession’ is going to be.”

But while 75 might be the new 65, the reality for many seniors is that they will need some form of long-term care in their lifetime.

“Long-term care protection is something we start to have the conversation about once people turn 50,” said Streeter, who works in partnership with Jim Hedbor, a certified financial planner. “We do utilize long-term care insurance if it’s appropriate, but what we’re often doing now is utilizing life insurance with the chronic, terminal and sometimes critical illness riders. A life insurance policy can serve multiple purposes and multiple masters. It can augment retirement, obviously it can be used as a death benefit, or it could be used in the event that you become critically, chronically or terminally ill.”

OTHER OPTIONS

Dempsey noted that although people should ideally be saving for retirement throughout their lifetime, there’s still hope for those who might not be fully prepared when they reach retirement age.

“Downsizing is always an option,” Dempsey said. “I’ve certainly seen a lot of people who are retired in houses too big that really drain them. It just makes the numbers a lot easier.”

Another option for people whose net worth is mostly tied up in their home is a reverse mortgage, in which homeowners aged 62 or older can access a portion of the equity in their home through a loan program administered by the U.S. Department of Housing and Urban Development.

“(A reverse mortgage) very well may be a viable solution for some people who have their home paid off and are looking for an extra $500 or whatever to augment their income and they have no other source of income other than the equity that’s trapped in their home,” Streeter said.

But Streeter added that there are other less costly options – such as a home equity line of credit – that can be utilized if one is proactive.

“If you’re planning correctly and appropriately, you can completely circumvent the reverse mortgage process,” said Streeter. “With proper planning, one can plan to have full control and utilization of their home equity without a reverse mortgage.”

May 10, 2012  
Filed under Food

The Largest Summer Event for Baby Boomers and Seniors in Vermont!

Free Admission!

Vermont Maturity Magazine is proud to present the 1st ANNUAL Central Vermont 50+EXPO on Saturday, June 9, 2012 at the Killington Grand Resort Hotel & Conference Center in beautiful Killington, Vermont from 9:30am-4pm!

The EXPO is open to all ages and offers a wide variety of exhibitors, art workshops, seminars, live entertainment, silent auction, wine tasting $5, microbrew tasting $5, great giveaways including tickets for two to see the Boston Red Sox and the New England Patriots, plane tickets to Boston and much more!

Good eats at the EXPO

Ovations Restaurant

Breakfast 7 a.m. – 10 a.m.

Lunch 12 p.m. – 2 p.m.

Dinner 5 p.m. – 9 p.m.

Menus will include vegan and vegetarian options. Menus available at vermontmaturity.com/expo

Grand Essentials

Deli will be open 7 a.m. – 10 p.m. offering Starbucks coffee, salads, sandwiches, snacks and beverages.

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