As the weather cools and the leaves turn, many of us look forward to one thing: no, not pumpkin spice everything. Football. In the game, the teams with the strongest fundamentals typically put themselves in the best spot to win. According to legendary coach Vince Lombardi, “some people try to find things in this game that don’t exist but football is only two things – blocking and tackling.” We can easily pivot to personal finance to discuss what represents the blocking and tackling in that arena.
It’s almost that magical time of year again, when seemingly every second or third commercial on television is for Medicare health insurance. That time of year when retired football players and B-list actors take to the airwaves to beseech you to call a national 1-800 number to discuss important health and financial decisions with someone you’ll never meet and never speak with again. Yes, the Medicare Annual Enrollment Period—with all its conflicting messages and confusion—is almost upon us.
GLENS FALLS — The Board of Directors of Arrow Financial Corporation declared a 3% stock dividend on Aug. 25, which will be distributed on Sept. 24, 2021.
The first image that often comes to mind when people think about long-term care is an elderly person sitting alone in a depressing nursing home. The misconceptions about what long-term care involves and peoples’ images of the most common care settings are understandable, since long-term care insurance originally started as nursing home insurance four decades ago. However, it has evolved into a much more flexible solution that allows you to receive care in a variety of settings.
In high school physics class, I learned that energy cannot be created nor destroyed, it can only be transformed. Within investments, the same principle applies to risk. To start, risk is a tricky thing to define. The financial world has settled on a measure of volatility called standard deviation. Although imperfect for a variety of reasons, standard deviation gives a quantifiable measure of how bumpy the ride has been which is a reasonable approximation for how it will be moving forward. Unfortunately, volatility is usually equated with losses. What about the opportunity cost of missed gains?
Dental care is one of the most difficult aspects of being on Medicare. Original Medicare does not cover dental services and most supplemental plans do not either. In fact, two-thirds of all people on Medicare do not have dental coverage, according to the Kaiser Family Foundation. In terms of cost, Medicare recipients who used dental services spent $874 on average in 2018, and one-fifth spent more than $1,000, according to the foundation.
Across the United States, millions of middle-aged adults struggle with the dual responsibilities of raising a child and caring for an aging parent. They are members of what is commonly called the sandwich generation. In fact, a 2018 Pew Research Center analysis of Bureau of Labor Statistics data found that 29% of adults have a child younger than 18 at home, and 12% of parents with a child at home provide unpaid care for an adult as well.
Many people who have hearing loss are familiar with the process of going to an audiologist for a hearing test, being fitted for hearing aids and then the incredible sticker shock that comes upon learning the price. Hearing aid pricing is one of the opaquest areas in health care and the prices of advanced hearing aids routinely exceed $4,000, which is enough to give almost anyone that sense of sticker shock. To make matters worse, Original Medicare and most Medicare Supplement plans do not provide hearing aid coverage, which means patients with these plans are responsible for 100 percent of these costs.
We have all seen some version of this in a headline: “Stocks were (up/down/mixed) today as investors (verb) about (current event).” In these financial Mad Libs, an attempt is made to summarize in a few words the reason for the movements of thousands of stocks and interest rates. As human beings, we crave this sort of narrative because it helps us make sense of a very complex system. Unfortunately, a simple explanation is neither pertinent nor useful in the big picture. ‘What’ is happening is infinitely more valuable than ‘why’ something is happening.
There are many vehicles for saving money, but few are as flexible as a Roth IRA. One can have retirement savings, emergency money, and college savings in one convenient place. Let’s explore these options in more detail.
SARATOGA SPRINGS – The Adirondack Trust Company Community Fund is now accepting grant applications from eligible nonprofit charities headquartered in the Saratoga, Warren and Washington County areas. The grant window is open until Aug. 31, 2021, according to Brian Straughter, Chair of the Community Fund’s Independent Advisory Committee. Grants are to be used during the 2022 calendar year. Grant information and application forms may be obtained from the ATCCF website at ATCCF.org.
In our work as health insurance brokers, we have countless times run across prospects who are on Medicare health plans that are wildly inappropriate for their personal needs. When we see this, we sometimes ask the prospect how they wound up on that plan and the answer is often, “I just called some phone number on TV,” or “I just signed up for something online.” In this article, we would like to discuss the importance of working with a trusted local broker in making better Medicare decisions.
GLENS FALLS — The Board of Directors of Arrow Financial Corporation on April 28 declared a quarterly cash dividend of $0.26 per share payable June 15, 2021, to shareholders of record on June 2, 2021. This represents an increase of 3% over the cash dividend paid in the second quarter of 2020, as a result of the 3% stock dividend distributed on Sept. 25, 2020.