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Month: December 2021

Brookhaven Golf Pro Therrien Named A ‘Top 10 PGA Junior Captain’ By PGA.Com

Posted onDecember 13, 2021December 13, 2021
Anthony Therrien is the head golf professional at Brookhaven Golf Course.
Courtesy Brook Haven

Brookhaven Golf Course’s head golf professional Anthony Therrien has been named one of the “top ten PGA Jr. captains” by PGA.com. 

The website, which represents the national golf professional association of more than 29,000 golf professionals and the leading experts on the game of golf, identified Therrien in its article “Ten PGA Jr. League Captains Who Inspired a Decade of Dominance” on Nov. 3.

Brookhaven is located at 333 Alpine Meadows Road in Porter Corners.

Since Therrien joined the staff in 2019, the course has nearly doubled its revenue and increased the number of rounds played in a season by 8,000, according to Brook Haven officials.

“We are certainly extremely proud of Anthony’s work” said Greenfield Town Supervisor Daniel Pemrick. “The physical improvements and great programming are making Brookhaven Golf Course a destination for all ages.”

The article, written in celebration of the PGA Jr. League’s 10th anniversary, celebrated the “rock star coaches who are the lifeblood of the program” that involved more than 64,000 kids nationally this year. 

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Jack Hall Plumbing And Heating Hopes To Build Larger Facility In Town Of Moreau

Posted onDecember 13, 2021

By Jill Nagy

Plans have been delayedfor the move of Jack Hall Plumbing and Heating from its present Glens Falls location to Route 9 in Moreau. 

Owner Ty Hall proposed to construct a new home for the business on land he owns near Northway Exit 17. The new space would be about five times the size of the present building and have room for a training classroom, storage area, offices, loading docks, an exercise center, an indoor truck wash and the operations center.

“We want to expand the company  and put some jobs out there,” Hall said. Business is “crazy right now” and they need more space.

While town officials appear to be happy to have the additional jobs and tax revenue, they are urging Hall to locate his facility near the Northway instead of the Route 9 corridor. In order to build where he wishes, Hall needs a rezoning to C-1, industrial use. 

For now, his eight-acre parcel is partly zoned for residential use and partly for light commercial, essentially office use.

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Office Of Parks, Recreation Funded Project That Improves Waterford Recreational Trail

Posted onDecember 13, 2021
A state-funded project improved a 20-year-old trail section that runs north from Main Street (Route 32) in the village and town of Waterford, part of the Champlain Canalway Trail.
Courtesy Office of Parks, Recreation and Historic Preservation

The state Office of Parks, Recreation and Historic Preservation and the Hudson River Valley Greenway announced that two projects were completed to improve a total of 4.2 miles of the Empire State Trail in the Capital District, to assure the trails remain accessible to bicyclists, walkers, and runners of all ages and abilities.

In Waterford, the state Hudson River Valley Greenway partnered with Saratoga County to rehabilitate a 1.2-mile section of the Empire State Trail. The project, which is part of the Champlain Canalway Trail, improved a 20-year-old trail section that runs north from Main Street (Route 32) in the village and town of Waterford. Saratoga County constructed the improvements. 

A new stonedust surface, safety fencing, and improved trail entrances were installed to facilitate public use. The Hudson River Valley Greenway provided a $275,000 grant to Saratoga County to fund the project, which began in September. 

The Waterford trail is built on the towpath of the original Champlain Canal, which operated from 1823 to 1918, until the modern canal was relocated to the Hudson River.

“Improvements to these historic trail corridors provide a great new place for cycling, running, walking and cross-country skiing in Albany and Saratoga counties,” State Parks Commissioner Erik Kulleseid said. “New York xtate continues to lead the way in enhancing our parks and trails and connecting more people to outdoor recreation.”

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Company Says Investors Can Use Low-Cost, Risk-Managed Fund Options To Meet Goals

Posted onDecember 13, 2021December 24, 2021
LifeGoal Investments staff rings the closing bell on the New York Stock Exchange.
Courtesy LifeGoal Investments

LifeGoal Investments, a company launched earlier in the year in Saratoga Springs, is offering new tools  it says can make investing more accessible.

Brothers Brett and Taylor Sohns had Wall Street experience when they moved to Saratoga Springs along with family, and decided to focus on making investing easier for do-it-yourself investors. They founded LifeGoal Investments to help people achieve financial goals with easy-to-understand investment products.

On Sept. 9, they officially launched LifeGoal Investments.

Their flagship product, the LifeGoal Homeowner Investment ETF (HOM), intends to help individuals responsibly invest and save for a future down payment on a home. The company in September the launched what thay call “the first ever, patent-pending homeowner, children and vacation investment funds.” The goal-based, risk-managed fund options comes as families and individuals are searching for options amid inflation in the housing market, company officials said.

“Those who want to invest in the stock market, but may not have the time to invest in multiple securities, now have new patent-pending, goal-based choices with a focus on some of the biggest needs and wants: children, vacation and homeownership,” said a company news release.

 According to the company, they use a patent-pending investing process intended to help control volatility and manage risk, while also attempting to keep pace with the underlying inflation of the home prices. To help offset any increase in the costs of housing, the ETF will have modest exposure to stocks in areas like home improvement retailers, construction equipment companies, home builders and lumber companies.

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New Stewart’s Shop Opens In Rexford, One Of 18 The Company Opened During 2021

Posted onDecember 13, 2021December 13, 2021
This new shop at 923 Riverview Road replaces an older shop at the same location.
Courtesy Stewart’s Shops

Stewart’s Shops has opened a new store in Rexford.

The new shop replaces an older shop at  the same location, 923 Riverview Road. The new facility is larger than the building it replaced and will soon include a carwash, company officials said

The shop is much larger both inside and out. There is more parking and more outdoor seating options, as well as a new gasoline island.  

The extra room on the inside of the shop creates space for expanded food to-go options, a beer cave, and  extra seating, officials said.

The company said 18 shops were open in 2021, 12 being replacement shops and six were formerly Blueox locations. 

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Business Report: Give Yourself ‘Paychecks’ For Retirement

Posted onDecember 13, 2021
Robert Snell, financial adviser with Edward Jones Financial in Saratoga Springs.

By rob Snell

During your working years, you’ve probably met the costs of living through your salary. But once you retire, where will the money come from? Is there a way to give yourself a “paycheck” for retirement?

There is indeed—but you’ll have to do a good job of managing your available income sources. Here are some moves that can help:

• Accept dividends and interest payments. Instead of automatically reinvesting all your dividends and interest payments into your portfolio—which is an excellent strategy for building wealth—you might want to begin receiving these payments as part of your income. Keep in mind, though, that companies can lower or discontinue dividends at any time. However, it’s also true that some companies have consistently paid, and even increased, dividends over many years, and even decades.

• Choose an appropriate withdrawal rate. Once you’re retired, you’ll likely need to begin withdrawing from your investment accounts. But you’ll need to avoid taking out too much early in your retirement. You don’t want to risk outliving your portfolio. For many people in their mid-60s, a 4 percent annual withdrawal rate is a good starting point, but everyone’s situation is different, and your ideal rate will depend on several factors: your age, the size of your portfolio, other sources of income, and so on. Once you turn 72, you’ll be required to take at least a minimum amount from your traditional IRA and 401(k), but you can choose to withdraw more, if necessary.

• Maximize your Social Security. You have significant control over the amounts you’ll receive from Social Security. You can begin taking these payments at age 62, but they will be much larger if you wait until your full retirement age, which will likely be between 66 and 67. (You will receive the maximum amount if you wait until you reach 70.) 

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People Who Save For Retirement At An Early Age Will Benefit Greatly In The Long Term

Posted onDecember 13, 2021
Steve Bouchey is the president and CEO of Bouchey Financial Group.

By Christine Graf

According to the Federal Reserve, only 36 percent of Americans are adequately saving for retirement.  The National Institute on Retirement Security estimates that almost 40 million U.S. households have no retirement savings. 

According to Steve Bouchey, president and CEO of Bouchey Financial Group in Saratoga Springs, it is never too early to start saving for retirement. He  has been helping clients for 34 year and has a team of 16 professionals who manage approximately $1 billion in assets for clients in 25 states and overseas.

“Start saving for retirement sooner than later. The sooner you get started, the more money you will have at retirement, and you may be able to retire sooner than expected or have the quality of life you always hoped to have,” he said. “The best advice I can give to a college graduate is that the first thing they need to do is put away as much as they can into a pension plan, and because they are likely in a low tax bracket, fund a Roth IRA.”

Roth IRA contributions are taxable, but earnings and withdrawals are tax free. Individuals who are covered by an employer’s retirement plan can make contributions to a Roth IRA as long as they do not exceed IRS income limits.

Those who haven’t adequately saved for retirement often find themselves having to work for much longer than they had planned. This is a major concern for those who begin to experience health issues as they get older.

“For a lot of people, they don’t have their health and may not have a job they are able to work at,” said Bouchey. “My goal for my clients is that if they are working during their retirement years it is because they are bored silly and not because they need to work.”

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BST & Co. Forms New Wealth Management Division As It Merges With Affinity Group

Posted onDecember 13, 2021

BST & Co. CPAs LLP, an accounting and management consulting firm, have formed a new wealth management division called Affinity BST Advisors. 

The new entity is a merger between BST Wealth Management LLC and The Affinity Group, a boutique wealth management firm founded by Gary Sancilio and Nicholas Preddice, that has served clients in the Capital Region and Hudson Valley for two decades.

The new entity is designed to usher in an entrepreneurial approach to financial planning and management by offering clients a comprehensive and holistic suite of services all under one roof. Through this model, a client-first experience will be available with access to comprehensive wealth management strategies and services; integrated tax planning for both individuals and businesses; private investments; trust and estate planning; and a full range of complementary financial services, the company said.

“We are thrilled to join forces with The Affinity Group to create a new model for financial planning and fill a gap in services needed for our clients who are busy business owners and executives looking for a single source for solutions related to family and business finances,” said Ron Guzior, BST & Co. managing partner. “As a result of this merger we will be able to offer our current and future clients a collaborative powerhouse of comprehensive and strategic services and fulfill a need they have been sharing with us.”

Sancilio and Preddice each launched their careers in financial services more than two decades ago. Sancilio initially began his career in law, while Preddice began his in insurance. The pair launched The Affinity Group in 2002 which employs a client-centric approach using a fee-for-service model, rather than fee-for-product, to provide enhanced value to clients.

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Business Report: Investments – Time To Be Merry Or Wary?

Posted onDecember 13, 2021
Rick Schwerd, VP, senior Investment officer, Saratoga National Bank and Trust Co.

By Rick Schwerd

The end of the year is always a good time to take stock of your investments and look ahead. Last year at this time, it was easy to be bullish on the stock market. Vaccine distribution was just starting, the country was continuing to reopen and unprecedented stimulus was being injected into the economy. 

As we head into 2022, there is still a lot to be positive about, such as robust company earnings and a very healthy consumer base. However, concerns about the Omicron variant, global supply chain issues, labor shortages and inflation are tempering enthusiasm.  

Stock markets had another good year. The Standard and Poor’s (S&P) 500, an index of 500 of the largest companies in the U.S., is up approximately 20 percent year-to-date, as of early December. Small-cap stocks, mid-cap stocks and most international markets have also shown strong gains this year. As expected, short-term interest rates have remained near zero as the Federal Reserve continues its accommodative fiscal policy. Intermediate and long-term rates have risen as the economy has improved, but in a measured way.

As we look forward, there is plenty to be positive about. The U.S. consumer is doing very well, which is vital since consumer spending accounts for nearly 70 percent of our Gross Domestic Product (GDP). The unemployment rate has fallen from 6.7 percent at the start of the year to 4.2 percent in November. Wages and salaries are up approximately 10 percent year-over-year. U.S. consumers have accumulated more than $2 trillion in excess savings and consumer net worth has surged about 30 percent since the start of the pandemic. These factors provide confidence that strong retail sales of goods and services will continue into 2022.  

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Construction Starts On New Space For Children’s Museum In Spa State Park

Posted onDecember 13, 2021
A project to relocate Children’s Museum at Saratoga to the Lincoln Baths has begun.

Construction has begun on a $3.1 million project to relocate an improved and expanded Children’s Museum at Saratoga to the historic Lincoln Bathhouse in Saratoga Spa State Park. 

This project will mark the third museum to join the Saratoga Spa State Park system, state officials said in announcing the start of the project. The facility’s relocation will double its space and increase accessibility for guests of all ages. 

“One of the biggest priorities for my administration is to keep New York state at the forefront of tourism with all we have to offer, and the Children’s Museum at Saratoga exemplifies this goal,” Gov. Kathy Hochul said. “Saratoga Spa State Park is already a hotspot for visitors with world-class arts and culture venues, performances, and outdoor recreation. With the addition of the Children’s Museum, we have added yet another valuable attraction that helps children learn through interactive, educational activities.”

The original Children’s Museum at Saratoga Spa State Park has outgrown its current 8,000-square-foot facility, where it serves 37,000 people each year. The museum will occupy 16,000 square feet of the Lincoln Bathhouse, including a 4,000 square-foot interior courtyard, offering expanded space for refurbished exhibits and full Americans with Disabilities Act accessibility. 

The $3.1 million project is supported by private donors and a $600,000 grant from Empire State Development. Construction is expected to be complete in the spring.

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