Living and working in Providence, it has been easy to notice that the local population is aging and that the older age group has grown tremendously. What college towns have to offer is clearly attractive to retirees and pre-retirees. This week on The Money Pro$, I will be joining host Oliver Tutt, and guest host Robert Auclair to discuss the issue of downsizing in the aging population. Oliver is a Certified Financial Planner and creator of Randall Financial Group and Robert is a partner in the firm.
These days, downsizing does not necessarily mean a smaller or less expensive home, instead the concern is lifestyle. Baby Boomers make up a significant amount of home buyers, especially in Rhode Island. These people, now between 47 and 65 years old, are “younger”, healthier and have more disposable income than the previous generations. As they switch residences, they move into areas that satisfy their cultural and social interests. Residing in a walkable town filled with arts, entertainment, great restaurants and a lively atmosphere, like college towns, is extremely appealing to this generation.
Many of these buyers are searching for certain amenities in their homes, as well as location. They are in pursuit of homes with higher quality features, lower maintenance and proximity to public transportation and health care. In addition, features which they may not have worried about before now, are of growing concern. A universal design which generally offers single story living, accessibility and maneuverability have become of great importance.
The ideas of convenience and lifestyle are making cities and tight knit communities the destinations of choice for the downsizing community. To hear more about this in depth, be sure to tune into The Money Pro$ this Sunday the 11th at 11:30 on Fox Providence.
Being part of a community that is rich in culture and architecture has always been interesting to me. As the holidays draw closer, Providence is finding new ways to celebrate what makes our city unique. This December you have the chance improve a building as well as enjoy those that have been lovingly restored to splendor.
Architecture for Humanity has helped people and communities in countries like Haiti, Japan and South Africa, as well as, in the United States, focusing on keeping places safe and sustainable by rebuilding communities, alleviating poverty and creating spaces that aid in community causes. The Providence Chapter is a new group of the global organization which is a network of architects, designers, and other building professionals working to brings design, construction and development services to communities in need. To kick start their efforts, the local group has a different initiative with its “Holiday Wish List Exhibition”. This program is asking members of the Providence community to submit 2-D artwork or photography of a property which you wish to be renovated, transformed, or re-purposed. The details needed with the submission are enumerated on their website. All submissions should be emailed or mailed to the address on the Architecture for Humanity, Providence Chapter’s website by December 15th. They will be displayed on the 19th of December.
Though the architecture group is new to Providence, the city has been a national leader in preservation through an organization that was founded by some astute women back in 1956. The Providence Preservation Society offers many programs and each year they showcase some of the historic deliverances which have occurred over the past 50 plus years. This past Sunday, I had James Brayton Hall, executive Director of PPS, on my radio show to discuss aspects of preservation in Providence. We talked on items from their Ten Most Endangered Properties program, to his vision of saving neighborhoods one building at a time, to their upcoming Benefit Street event this Saturday, December 3, 2011. You can hear a free podcast of the show via itunes.
This weekend you should make it a date to enjoy a collection of gems, which make Providence so unique, by attending The Providence Preservation Society’s “Benefit Street Holiday” event. Ticket holders will be guided through historic homes and shops on Benefit Street, learning about the significant collection of architecture, while enjoy festive decorations, storytelling, and celebrations. And there are activities for everyone in the family.
Preserving our community is the best way we can build a better future. Whether you want to bask in the glory of past renovations, or get involved in proposing new projects, this December is a great time to start.
As you may know, I’m one of the professionals on the new Fox Providence show The Money Pro$. My last appearance was on the episode about the real estate market, which ran in August. You can catch a replay of my segment on buying in today’s market below.
This Sunday, The Money Pro$ will debut a program on Business Succession Planning. Only 30% of small businesses survive to the second generation, so this is a very relevant issue. Maintaining the continuity of the business for stakeholders including co-owners, employees, family and customers is a major issue for large and small companies, and an important aspect in retaining employment in the state. Owning a family business, the topic is of interest to me. Estate planner Karen DelPonte, Esp. partner at Cameron & Mittleman, LLP., and CPA Greg Porcaro, partner of Otrando Porcaro & Associates, will weigh in on the matter. They will be joined by Russ Towers, Esq. of Broker Service Marketing Group, at the round table discussion.
The Money Pro$ is aired weekly on WNAC 64 at 11:30AM. Check your service provider for the channel locations. As a future programming note, I will soon be in the studio recording the December show. I’ll announce the airing date in the next few weeks.
Here’s a clip from the real estate episode:
The Money Pro$ provides Southern New England with easily available information on personal finance. If you’re interested in this subject, their website has video from all the episodes, including that of my good friend/radio co-host Steve Tetzner.