(bright music) (bright music continues) - Welcome to "Almanac North."

I'm Brett Scott.

Tonight on "Almanac North," we are joined by experts and professionals in the world of retirement and senior living.

We will learn about planning for retirement and the options and availability of senior living here in the Northland.

That's coming up on "Almanac North," but first, the Wisconsin Department of Workforce development is urging employers to apply for the Wisconsin Fast Forward Grant by October the 28th.

Businesses across the state of Wisconsin, regardless of size, can receive funding to train skilled workers through this program.

The grant aims to help companies create tailored training solutions addressing workforce needs in their area.

Funding can reimburse the cost for training of unemployed, underemployed, and existing workers for full-time jobs, promotions, or higher wages.

Grants range from $5,000 to $400,000.

The secretary of DWD encourages businesses to apply, stating it's an investment in Wisconsin's workforce.

Eligible applicants include public agencies, private organizations, consortiums, and tribal governing bodies.

The application deadline is 3:00 p.m. on October the 28th.

Meanwhile, the Minnesota Department of Transportation and St. Louis County are hosting a public meeting on Monday, September the 23rd, at Rock Ridge High School in Virginia.

This will be to discuss the 2025 construction plans for Highway 53 in Eveleth.

Doors open at 5:00 p.m. with a presentation starting at 5:30.

MnDOT will provide updates on safety improvements at key intersections considering the new Rock Ridge Public Schools development.

St. Louis County will also discuss a project aimed at easing Highway 53 access to the new schools.

If you're unable to attend, materials will be available online at the MnDOT projects website.

Now, as our show about aging and retirement in the area gets underway, we have a special report from Dennis Anderson.

Denny.

- Thank you very much, Brett.

As we get older, planning for retirement in Northern Minnesota becomes necessary.

Now, this process is influenced by several factors, including healthcare, cost of living, and financial preparedness.

In Minnesota, according to the state website, the cost of living for a single person aged 51 and older is about $2,500 per month, excluding transportation costs, which may be reduced for retirees.

Healthcare costs vary greatly, but generally decrease for individuals eligible for Medicare.

Supplemental insurance can still be necessary, though, depending on one's personal circumstances, which impacts cost dramatically.

Minnesota has a lower proportion of retirees compared to the national average, with 83% of residents aged 65 and older not participating in the labor force.

Now, this figure reflects a slight decline over the past decade, indicating that more seniors are either working longer or reentering the workforce.

One reason for this is the impact of economic downturns, such as the Great Recession, on retirement savings.

On the topic of savings, just under 1/3 of Minnesotans aged 55 and older do not have a retirement plan or a pension, meaning many rely heavily or exclusively on Social Security as their primary source of income, and this places Minnesota below the national trend where nearly half of households aged 55 and older rely on Social Security for most of their retirement income.

Local programs in Minnesota, such as Meals on Wheels and various food pantries, help seniors on a limited budget, while other services provide free or low-cost medical equipment to those in need.

Minnesota also offers financial assistance programs for home repairs and modifications, which can help seniors stay in their homes longer.

Retirement in the Northland presents both opportunities and challenges.

While Minnesota ranks as the eighth best state to retire in, largely due to its quality of life and healthcare services, the high cost of some services means that planning and support are crucial for a secure retirement.

Now, as a community, we must continue to explore ways to support our aging population so that they can enjoy their golden years to the fullest.

And so this has been Denny's Desk.

And now back to you, Brett.

- Denny, thank you.

Our first guest tonight is the founder and president of Align Financial, Tanya Nichols.

Tanya, welcome to the show.

- Thank you, Brett.

Nice to be here.

- We are happy to have you.

What are some of the key components of a successful retirement plan?

- So, I think my experience has been what, the big roadblocks for people are usually something like health insurance that, so, if you have a solid plan for health insurance and if you spend some time understanding your spending and then spend some time understanding how you're gonna actually spend your time, because money really isn't the main component of retirement.

So, if you want to put a solid plan together, I would say make sure you understand what your health insurance options are 'cause that can be a big barrier for some, and really understanding where your money's going today and how that might change in retirement and how you're gonna spend your time, because that can be a big surprise when all of a sudden, you've been in meetings your whole life and then one day it's like every day is Saturday.

- Right, yeah.

So, you started your organization in 2018.

How have things changed within that timeframe?

- You know, it's interesting.

In 2018, I met with all my clients in person.

And as a result of COVID, it really did require us all to evolve, and now over half of my clients, we meet online just over Zoom.

So, that's been a big change.

- Interesting.

How can individuals estimate how much they need to save for retirement?

So, there's not a specific dollar amount, but how can they kind of have a ballpark?

- So, that's a real misconception.

You're absolutely right, Brett.

People think that, you know, "I need a million," or "I need two million," they come up with this round number, but at the end of the day, it comes down to how much money you spend.

And so I wouldn't even think about what the number is, about how much you need.

I would think about how much you need to spend, and then it's easier to back into the number because you have to include pensions and Social Security and other reliable income sources you have in addition to what your investments might provide as well.

So, it's really specific to each person.

- Interesting.

And what are some of the common mistakes people make when planning financially for retirement?

- Oh, let's think about that.

- [Brett] Not to call anyone out.

- Yes.

Right.

I think you really need to start early.

Doesn't mean it's a game changer, but I think the earlier you start, the better.

I think the second thing is sometimes people retire first and then they figure out the money later.

And the thing about retirement is it's sometimes, depending on your field, it's hard to go back, and it's a huge life change.

Even if you can do it financially, it is a huge change for how you're spending your time.

So, in my opinion, if you can stage into it, like, some people, if you can work quarter-time or you can work half-time so you don't have to draw as much from your investments or you could delay Social Security a little while, that can be a really big benefit.

So, I would say have a plan before you retire.

- Sure.

Exactly.

When you talk about that age, planning earlier, what age are we talking, 40s, 50s?

- I would say if you're under 40 and you're not saving at least 10% or more dedicated to that future income, you're probably behind a little bit.

If you're over, let's say, 40 or 50, and these are rules of thumb, so, you know, don't hold me to this, but if you're over 50, it's a great time to be getting kind of a checkup either online through, there's some great podcasts out there, some great resources.

If you're over 50, go get a checkup and figure out if you wanted to retire in a similar lifestyle, is it even possible based on what you've saved?

- Interesting.

- And then that gives you plenty of time to adjust if you need to.

- Sure.

How important is it to have a retirement withdrawal strategy, and what are some of the methods for that?

- There are a lot, well, plenty more rules of thumb out there.

One of them that's commonly talked about is the 4% rule.

What I don't love about these blanket solutions is it does not take your personal goals into consideration.

For example, the 4% rule, in many cases, would leave you a huge legacy.

For some of my retirees, they helped their kids enough.

They wanna enjoy their money their first 20 years of retirement and the 4% rule might not allow them to live on as much as they could otherwise.

So, I think, again, I'm gonna go back to spending as being the biggest driver.

Before you work on retirement withdrawal strategies, I'd really zone in on how much money you need and then, you know, build your strategy around that.

- Do you often have to have that conversation with your clients about, plenty of people are good spenders, or savers, I mean, savers.

So, maybe spending a little bit more of their money and enjoying their time here?

- That is a big part of our work actually, is helping people get comfortable and confident that they've done enough and now like, "Hey, go enjoy it."

- [Brett] Sure.

- So, there's some philosophies on that right now.

There's a couple, there's a book out called "Die with Zero," which has some interesting philosophies on how to structure a retirement that at the end, you know, you've invested it in what he calls memory dividends, in living your life and sharing it with family.

So, I'm not saying that's the right way or the wrong way, but I think that's why you really wanna focus in on what's important to you about how you spend your time once your work life is done.

- Very interesting.

How often should one review and maybe adjust their plan, even as they're retired?

- You know, a spending and saving plan every year I think is a really good plan at whatever stage of life you're in, just to be really aware of your finances.

The people that feel the best about their money aren't necessarily the ones that have the most.

That's not the common denominator.

In my opinion and in my experience, it's the people who know where their money's going, and the more awareness you have about your spending and saving strategies and that it's going towards your real priorities that are personal to you, that's where you're gonna really feel the best about things.

So, if you can be regularly checking in on that, it's just like diet or exercise, you know, you're just zoning in on your financial health just like you are on your regular health.

- Right, it just becomes a normal practice in your life.

- Yes, yes.

- Tanya, thank you so much for being with us.

We appreciate the tips.

- Yes, thank you, Brett.

(bright music) - Now, our next guest, Jennifer Clement, is the sales and community outreach director at Age Well Arrowhead.

Jennifer, thank you for joining us this evening.

- Hi.

Thank you for having me.

I appreciate it.

- We appreciate it.

So, can you give us a brief overview of what Age Well Arrowhead is and how they support residents in our community?

- Sure, so, at Age Well Arrowhead, we offer services and supports that allow older adults to live independently how they choose and where they choose for as long as they choose.

And currently we serve Duluth, Proctor, Hermantown, Esko, Superior, Cloquet, and the surrounding Carleton areas.

- Sure.

And what are some of the biggest challenges?

We're talking about retirees tonight.

What are some of the biggest challenges when it comes to aging in place right here in our region?

- Sure.

So, what I've noticed a lot is tapping into resources, knowing what's available to you.

It's not even just knowing what's available to you, but it's knowing what do I need to be looking for?

What should I be asking?

What are the questions for the next stages of my life?

So, great places like the Senior LinkAge Line is a great resource.

If you just give Age Well Arrowhead a call, we'll help figure out your plan and get you connected with our services and other resources around the community that are gonna help you.

- Sure, and how does Age Well Arrowhead, how do they address the unique needs of retirees living here in the Twin Ports region?

- Well, so, if you're retired, you've worked hard to get there.

And now that you are back in the community, you get to choose how you wanna contribute on your terms.

And really our biggest thing is we wanna impress on people to invest in yourself.

That is a huge thing.

You worked very hard.

Now this is your time.

And we wanna help you enjoy retirement.

So, how we can do that is with some of the services that we provide, which I can go into much more detail later, but some of them are like our homemaker service.

We can clean your house for you.

We can get your groceries for you.

We can do lawn service for you, like mowing the lawn.

We could do some snow removal.

If you decide that you wanna be a snowbird and you wanna make sure that your property is taken care of while you're gone, we can do that as well through our snow- - Really?

- Excuse me, our chore program with our snow removal.

And just give you that kind of peace of mind that everything's okay.

And a lot of the times we are also a caregiver, and so maybe we have somebody at home with us, and as a retiree, we're taking care of somebody.

And whether you think you're a caregiver or not, if you're taking care of a parent, a child, even a pet, a neighbor, somebody, you're a caregiver.

And a lot of times we think, "Well, I need to be doing these things.

This is what I'm supposed to be doing."

So, we don't take care of ourselves a lot or reach out for services and supports for ourselves.

So, through our companion and our respite service program, we can help you.

If you're retired, we want you to go and enjoy your life, go spend some time with family and friends, make sure you're getting to your important medical appointments to make sure that you're okay too.

So, we can sit with your loved one.

We can do scheduled services each week if you need, and maybe play a game with them, watch their favorite show, just spend some time with them while you go take care of things that you need to take care of.

- You have so many wonderful aspects of your organization.

You also have a Groceries to Go program.

Explain what that is.

- Yes.

Oh, it's so much fun.

So, we work with the local Super Ones around the region.

They have been just a fantastic partner with us.

So, basically wherever you live, we would probably utilize that Super One in your area.

We have volunteers that do this program in a couple different ways.

They could either do the ordering for you or they could do the shopping or both.

So, like on a Sunday evening, we'll give you a call.

We'll literally go through the whole store through a software program that we have and we'll get the order put in.

On a Wednesday or a Thursday, your volunteer is gonna go do the shopping for you and they're gonna call you up if they don't have what's on your list and say, "Hey, don't quite have the chicken salad that you want.

Would you like this?"

So, we're literally shopping as if you're shopping for yourself.

We're gonna get you the best deals, make sure the expiration dates are good.

And then we go through, we do the shop, and then we deliver it to you.

We're gonna call, you know, that we're on our way.

And that could either be dropping it off on the front stoop if that's what you want, on the porch, or coming on in and putting it away for you.

Let's have a conversation, have a cup of coffee, open those tight pickle jars, and maybe get rid of some expired food.

But it's just also a nice wellness check.

Whether you utilize the service every week or not, we are gonna call you every week and see how you're doing and see if this is something you would like to do.

And it's just fun.

I've done it, and it's rewarding to see the excitement on somebody.

- I'm sure it's very beneficial for family members too who might not live in the region and just wanna check up on their parents or retirees.

- 100%, yes.

- For those planning retirement, what is some advice that you could give to residents?

- I would say planning and start doing those kinds of things early.

So, most of our demograp, our demographic, excuse me, is like 70, 80s, and 90 year olds.

And a lot of the times they're reluctant to kind of do planning at that point.

And so as I'm getting out in the community more and talking to people, I'm trying to impart on people earlier to start thinking about things early.

So, what is your network of people?

Do you have a financial advisor?

Do you have a general practitioner?

Do you have a healthcare directive, a will?

Do you know where all your important documents are?

Does your family know where these things are?

Especially your children, as, you know, if something happens, it can happen quickly, and if you're not prepared and someone's trying to figure out your wishes for you, they might be doing something that you didn't necessarily wanna do and then the costs can really start to add up.

And so when you start doing things early, you're making choices for yourself and that's how you stay independent.

You start putting those things in place early, figuring out what your resources are.

I kind of equate it to this, when you get that first job and you have a 401k for the first time, or an IRA, and you're like, "I gotta put money away.

I have to have retirement when I get there so I can live life the way that I have been used to."

Well, why don't we do that for our wellbeing also?

So, our physically, mentally, and emotionally, we're prepared once we get to that point financially.

So, it's all, you know, just taking care of yourself.

And it's not conceding to old age that you're thinking about these things early.

If anything, it's a smart thing to do.

- Open communication, it's always good.

- 100%.

- Jennifer, thank you so much for being with us.

We appreciate it.

- Absolutely.

Thank you very much.

(bright music) - Our final guest tonight is the executive director at Ecumen Lakeshore, Blaine Gamst.

Blaine, thanks for taking the time to join us on "Almanac North."

- Thanks for having me, Brett.

- We appreciate it.

So, what range of services, we hear about Ecumen Lakeshore all the time.

I feel like I do.

What are some of the services that you offer to seniors in the region?

- Yeah, so we offer a full continuum of services aimed towards serving older adults.

Starting off with, you know, some of our traditional healthcare services.

We have a skilled nursing facility that serves approximately 900 people every year in our transitional care unit, people coming to us from the hospital needing rehabilitation services.

We offer PT, OT, speech, and we're really working with whatever medical condition they have and they're coming to us and what barriers they have to getting to the next level of care.

For some people, it's to get back home, or maybe it might be a new living environment, depending on their situation.

- And for folks who maybe choose not to go back home, there's independent living available, right?

- Yeah, so, we have a campus that offers housing services as well.

We have independent living apartments available, assisted living, memory care.

And then we complement those services through home care and hospice services.

And then I often forget this, but we offer home delivered meals.

We have a 54-year-old home delivered meals program that delivers hot meals to people's homes five days a week.

- Wow, that's great.

And you mentioned that Ecumen's been in our community for over 90 years.

- Yeah, 94 years.

That's, you know, one thing that we're really proud of.

And, you know, we have individuals who work at Lakeshore that have, you know, we have cooks that have been in the kitchen for, you know, 40 years.

We have an individual in our business office I think 48 years.

So, just some of the longevity, the tradition of our team members, that have worked in the community for as long as they have I think really separates us and adds a lot of pride to the services that we deliver.

- That shows you right there the staff wants to stay, so why wouldn't the residents, right?

- Right, yeah.

- So, what are some of the wellness programs and activities that residents can take part in?

- Sure, so, depending on the types of services or living environments, we offer a variety of activities, life enrichment activities.

We offer, you know, just different events, musicians, arts.

We have people coming in.

We have, I'm just trying to think of a couple others.

We have a partnership with opera that comes in, musicians, things of that nature.

So, there's a wide range of things going on.

One of the analogies that people have used to describe living at Lakeshore, it's kind of like living on a cruise ship in a sense 'cause there's just always something to do, always something to participate in.

- [Brett] Sure.

- On some of the more healthcare side of it, we again have our rehab services, really focused on people in a holistic way and finding ways to improve their health.

- You mentioned you've been with Ecumen for 14 years now.

What have you seen, what are some of the changes you've seen throughout that decade?

- Yeah, so, you know, I think through my time working in older adult services, we've seen a real shift and growth in housing and assisted living products in communities, which I think has provided really nice options for people who are looking, you know, everyone's maybe looking for a little different type of living situation.

So, I think, you know, the growth in assisted living has provided, you know, options for people.

I've also seen a shift towards home and community-based services.

So, the ability for people to receive services right in their home where they want to be.

- Everyone wants to try and stay at home as long as they can, right?

- Absolutely, yeah.

- How has the demand for those senior living facilities in the Northland, how has it changed over the recent years?

Are you seeing more competition in the community?

- Yeah, I think more competition probably on some of the assisted living side, but, you know, there's absolutely a demand for services.

I think it's important for people to, you know, understand that they do have options, and the more planning that people can do, you know, researching what the right fit is for them and, you know, what's gonna best fit their lifestyle is important so when they find themselves in a time when they need to transition or need to move, they have options, created options.

- And I'm sure it's a very open, welcoming campus, as you mentioned.

How does Ecumen Lakeshore allow for families to come in and visit and enjoy time with their loved ones?

- Yeah, so, I mean, families are an extremely important part of what we do and, you know, we absolutely welcome families.

We have rooms available for people to host celebrations.

We try to make it real easy for people to, you know, host different types of parties maybe in their own apartment.

We have catering services and yeah, we've learned definitely the importance of families and that social connection that people really thrive on, so.

- We all need communication.

And you have a restaurant on campus too?

- We do, yeah.

I think it's our best-kept secret.

We do have a restaurant that we serve with our independent living folks primarily, but we are open to the public.

We have some groups that come in and meet there, play cards or different games.

And it obviously serves our team members as well, so.

- Sure.

Well, Blaine, thank you so much for being with us this evening.

I appreciate it.

- Yeah, thank you.

Thanks for having me.

- Yeah.

And before we go, let's take a look at what you might be up to this weekend.

Here's a few things.

Saturday from 9:30 a.m. to 4:00 p.m., it's the 40th annual Chester Bowl Fall Fest.

Fall Fest builds community with friends and neighbors in the park with live music, food, crafts, vendors, and so much more.

The fundraiser is for the Chester Bowl Scholarship Fund, which helps over 140 families, it helped over 140 families last year.

Everyone is encouraged to walk, bike, or take the shuttle from UMD's Lot B to visit Chester Bowl and join in for Fall Fest 2024.

Also on Saturday, at 11:00 a.m. at Pine Valley Park in Cloquet, Queen of Peace Catholic School is hosting a 5K Color Run.

Registration starts at 10:00 a.m. and is $25 for 13-plus, 20 bucks for 12 and under, and just $4, or, rather, four and under are $10 for just the shirt.

The run starts at 11 with food trucks to follow.

Funds raised support the Queen of Peace Catholic School.

Sunday from 1:00 p.m. to 3:00 p.m. is Spooky Landscape Silhouettes from Event Horizon, the arts and wellness collective in Ashland, Wisconsin.

Participants learn color schemes, landscape components, and silhouette art techniques, and will create a spooky or seasonal work of art.

The cost is $20, which includes all supplies and even a glass of wine.

And all weekend long in Brainerd is the Paul Bunyan Fest brought to you by Cragun's Resort on Gull Lake.

Experience the magic and grandeur of the Northwoods and celebrate the legendary lumberjack Paul Bunyan and his faithful Blue Ox Babe.

There will be a variety of family-friendly events, including entertainment and the charm of the Brainerd Lakes area.

Well, that is it for this week's show.

Make sure you go out and enjoy your weekend.

For everyone here at "Almanac North," I'm Brett Scott.

Thank you for joining us and good night.

(bright music) (bright music) (air whooshes)