Who knows where the time goes? We’ve reached the end of
another year, so it’s appropriate to reflect on the nature of time and
how it affects us. And time certainly is a key element in the pursuit of your
As an investor, time can
be your greatest ally. If you hold some investments for the long term, you
could achieve an impressive cumulative growth in value. Furthermore, if you
keep adding shares to these investments, possibly through a dividend
reinvestment plan, you could attain “growth on growth” through the power of
compounding. Of course, when you own equity investments, you will experience market
fluctuations, but in general, the longer you hold these investments, the more
you can reduce the effects of market volatility.
But you also need to consider aspects
of time in these contexts:
progress on achieving goals – When you establish a goal, such as saving for
a child’s education or your own retirement, you know the end date of when you’ll
need the money, but it’s also important to mark your progress along the way. So,
each year, see how far along you are in meeting your goal. If you’re falling
behind, you may need to adjust your investment mix.
• Choosing an
appropriate strategy – The time needed to achieve a goal should drive your
investment strategy for that goal. For example, when you are saving for a retirement
that won’t happen for three or four decades, you will need to invest for growth
by placing a reasonable percentage of equities and equity-based investments in
your portfolio, based on your comfort with the various types of risk, including
interest rate risk, credit risk and market risk. You will experience some bumps
along the way — keep in mind that the value of investments will fluctuate and
the loss of some or all principal is possible — but you likely have time
to overcome the “down” periods. On the other hand, when you are saving for a short-term
goal, such as a vacation or a new car or a wedding, you’ll want a set amount of
money available precisely when you need it. In this case, you may need to sacrifice
some growth potential for investments whose principal value won’t fluctuate,
such as certificates of deposit (CDs) and bonds.
Keep in mind, though,
that when you’re investing for long- and short-term goals, it doesn’t have to
be just one strategy or the other. You can save for retirement with primarily growth
vehicles but still have room in your portfolio for shorter-term instruments.
And even when you’re specifically investing for some short-term goal, you can’t
forget about your need to save and invest for retirement.
And here’s one final
point about the relationship between time and investing: Your risk tolerance
can, and probably will, change over the years. As you near retirement, you may feel
the need to adjust your portfolio toward a more conservative approach. That’s because
you may want to consolidate any gains you might have achieved while also
recognizing that you simply have less time to bounce back from down markets.
Still, even in retirement, you’ll need some growth potential in your portfolio
to help you stay ahead of inflation.
When you invest, one of
your biggest considerations is time — so use it wisely.
Chad Choate III, AAMS
828 3rd Avenue West
article was written by Edward Jones for use by your local Edward Jones Financial
Jones, Member SIPC
Talking to your parents about independent living communitiesBy: Country Meadows | cost of senior living, For Adult Children, Independent Living, Senior Living, senior living communitiesFor adults with aging parents, there are several difficult although necessary conversations that must be had around planning for the future. One of those conversations is about making the transition to senior living. And with multiple care factors to consider and a range of options for independent living communities to choose from, this discussion may seem all the more daunting. At Country Meadows, we have decades of experience in helping families make the right decisions for their senior living journey. Here of some ways to help ease into the conversation of planning for senior living.Find the right time and use the right toneWhen discussing sensitive subjects, especially ones so deeply personal, its best to enter the conversation knowing that it may not be easy for either yourself or your aging loved one. Be sure to find a time where there are no other distractions and you can sit down and have a meaningful experience. For instance, attempting to have this discussion during a family function or before an important event may cause clouded judgement as its already such a momentous time. If this is the very first time youll be having a conversation about independent living communities, these preparations can make all the difference in how your words are received. Its also important to understand there may be resistance from your parents or loved one when discussing independent living communities. If the discussion becomes emotional, be sure to stay calm while directing the conversation. Do your own research on independent living communitiesIts a good idea to walk into a situation prepared, and discussing independent living communities with your parents is no different. Researching amenities, activities and levels of available care if needed will help you provide solid answers when questions arise. Additionally, understanding the differences in pricing among the many independent living communities available will help you be realistic about what options are affordable. Once your parents are ready to be a part of the process, youll already be prepared for a more positive prospecting experience. Anticipate what your parents are looking for in independent living communitiesWhile your parents or elders may not have explicitly expressed what theyre looking for in a senior living community experience, there are reference points that can help you understand what they may need from independent living communities. For instance, gauging their level of independence will be important when it comes to determining the type of care that theyll need now or in the future and this may differ from what your parents feel their level of independence is. Knowing, however, what aspects within the independent living communities youre researching may bring a compromise between your points of view. This can help to keep these conversations respectful of what you feel is best and also what your parents wishes are. If you know that your parents are social, active or enjoy dining out often, leading your research with independent living communities that feature those amenities can be a great entry point. Be ready to have multiple discussionsRome wasnt built in a day, and its very likely that planning retirement wont happen in a single sitting either. There are many aspects that go into making a decision on senior living. Between the initial conversation, understanding the options available, visiting prospective campuses and financial considerations, there will be a lot of time invested in the process. Outside of these factors, the emotional aspects may leave you having to revisit this conversation with your loved ones either when theyre ready to think about independent living communities or when theyre willing to at least continue the discussion. Being able to listen and empathize will be very important in ensuring that everyone feels respected and heard.Ultimately, understanding your parents emotional needs in addition to their physical needs will be crucial in navigating these difficult conversations effectively. And when youre ready to make a decision on independent living communities, Country Meadows is here to help. With nine locations in Pennsylvania and one in Frederick, Maryland, Country Meadows has consistently been recognized as one of the best independent living communities for seniors. Not only are our independent living communities affordable, but theyre also designed for each resident to feel connected to neighbors while still having space all their own. Our campuses are pet friendly, as well, so residents can bring their furry friends along. In addition to independent living communities, Country Meadows also offers many different services including memory support, rehabilitation services, assisted living and personal care as well as restorative care options. With this comprehensive approach, our independent living communities are able to give a range of care to all residents. If you or a loved one are looking for more information on independent living communities or specifically more information on Country Meadows, contact us today. We can help you learn more about the services we offer, schedule a tour of our independent living communities and answer any questions you may have. We look forward to hearing from you.
Keeping Independent Senior Living Costs AffordableBy: Country Meadows | Independent LivingAs people plan for the future, one common goal among older adults is to maintain independence in the comfort of their own homes for as long as possible. However, life is unpredictable, and there may come a time when seniors find themselves in need of a little extra support with everyday tasks or simply crave companionship. Independent living is designed for seniors who are generally healthy and active, but prefer a community setting that offers convenience, social engagement with others and amenities such as meals or recreational activity programs. Independent senior living costs can vary widely based on several factors such as location, amenities, additional services provided and type of housing.Housing typeThe type of housing a senior chooses can significantly impact independent senior living costs. When seeking information on various types of housing, seniors will find options that may include apartments, cottages, condominiums or single-family homes. Larger or more luxurious accommodations typically come at a cost with higher fees.LocationParticular geographic areas can influence overall expenses. Independent senior living in urban or high-demand locations will have higher costs than those in rural areas, as is the case in private homes or rental properties. For example, independent senior living in New York City will come at a much higher rate than living in rural Pennsylvania.AmenitiesIndependent senior living costs often include a range of amenities and services such as fitness centers, activities programs, housekeeping, laundry and transportation services. The more extensive and upscale the amenities, the higher the cost may be. Consider which amenities are important to you and your loved one when choosing senior living accommodations.Meal plansSome independent living communities offer meal plans as part of their services. The cost of these plans can vary based on the number of meals provided each day as well as dining options available, such as special meals where premium menu items such as filet mignon or lobster are offered.Utilities and maintenanceIndependent senior living costs may include utilities and maintenance services in their fees, as is the case at Country Meadows Retirement Communities. Others may have separate charges for these services, which is why its essential to clarify items included in the monthly fee.Healthcare servicesWhile independent living is designed for seniors who are relatively healthy, some communities offer healthcare services or have arrangements with healthcare providers and vendors such as nursing agencies and medical specialists. Additional healthcare services may come with extra costs.Community fees and depositsThere are several different types of senior living communities, and with those come a wide variety of costs. A Continuing Care Retirement Community, also known as a CCRC, may require a large entrance fee for admission as well as a monthly charge to guarantee service availability at every level of care. Other senior living facilities may require a community fee in addition to monthly charges. This fee may cover administrative costs, reserve funds or contribute to community improvements.Social and recreational activitiesAccess to social and recreational activities may be included in the monthly fee at some senior living communities, such as Country Meadows Vibe program. Some independent senior living costs might include higher fees for organized events, outings, entertainment, classes and fitness services.Transportation servicesTransportation services for medical appointments, shopping trips and social outings may be included in independent senior living pricing at some communities. At other locations, transportation services may be billed separately depending on a variety of factors such as distance and time of day.Security and safety featuresIndependent senior living costs typically include secured building entrances and 24-hour emergency response systems in private apartments. Additional security features which might incur higher fees are 24/7 medical alert systems and security personnel, which can significantly impact cost.Its crucial for seniors and their families to thoroughly review the costs of each community. Additionally, considering the long-term financial implications, including any potential increases in fees, is important when evaluating the affordability of senior independent living.Stop by one of Country Meadows Retirement Communities nine campuses in Pennsylvania or one in Frederick, Md., to pay us a visit. For information about any of our locations or services, or to ask a Question, please reach out to our expert advisors. Were here to help! Country Meadows
Informed Decisions: Benefits of Professional Senior Living AdvicePosted: February 22, 2024 , in My Care Advisors PodcastFor older adults, few decisions carry as much weight as selecting the ideal Assisted Living Community to meet their needs. With a staggering number of nearly 31,000 Assisted Living Communities across the U.S., the task of finding the perfect match can feel daunting, overwhelming, and emotionally draining.However, enlisting the expertise of a seasoned senior living advisor can help alleviate these burdens. By partnering with a knowledgeable professional who comprehensively understands the continuum of senior care options, tailored to individual needs and preferences, you can navigate this pivotal transition with confidence. Such advisors not only ensure the quality of life for you or your loved one but also offer invaluable support throughout every step of the decision-making process. From clarifying intricate details to providing emotional reassurance, their guidance proves indispensable in securing a comfortable and fulfilling living arrangement for seniors.Click to listen to this episode:Tune in for insights and resources from Tracy Toomer, Certified Senior Advisor and Owner at CarePatrol Collin County-Central.About Tracy Toomer:Tracy Toomer is President and Owner of CarePatrol of Collin County. CarePatrol is the nations largest senior care solutions franchise in the United States. Through more than 200 offices in 35 states, local senior advisors provide a free service in helping families find quality, top-rated assisted living, independent living, memory care, and in-home care.Toomer is a seasoned business executive with more than 25 years of experience in the specialty retail, grocery, restaurant, fitness and now in senior healthcare. In recent years Toomer served as vice-president of operations for the largest Planet Fitness Franchise, with over 168 locations in 14 states. There she built an operations team of seven regional directors and grew from 69 gyms to 168 gyms through two acquisitions and organic growth.Toomer holds a Certified Senior Advisor (CSA) designation awarded to qualified, multidisciplinary professionals serving older adults. Tracy is active in the senior community and brings a creditable and important voice to finding safer senior living. Each month, Tracy facilitates mental aerobics at the Wellness center for Older Adults in Plano, Texas.In 2022 Tracy earned the Compassion Ambassador Award from CarePatrol Franchises, LLC amongst her 180 Franchise peers. Her dedication to the families and those living with dementia inspired the Franchisees to do more; to contribute more for a huge segment of their client base.Tracy Toomer is a proud southern California native but currently resides in Allen, Texas with her parents and four-legged brother Bruno. Show/Episode Notes:Learn what the role of a Senior Living Advisor means and some of the services they offerDiscover how working with a Senior Living Advisor can help you navigate the complicated world of Assisted LivingHear about the importance of working with a Senior Living Advisor to avoid potential dangers or hazardsWalk away with tips and tricks from Tracy Toomers past experiences Determine some of the resources available to you and where to find them