The 55 Guide - Baltimore, MD

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BALTIMORE MARYLAND | VOL. 1

INSIDE THIS ISSUE: FEATURED ARTICLES

RETIREMENT • INVESTING • VACATION

RECOMMENDED SERVICE DIRECTORY

TRAVEL • LIVING • HEALTH • DINING

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CO NTE NT S FEATURES 4

Destination Vacations

6

Luxury Living

8

Investing For The Future

10

Senior Living

14

Local Event Guide

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20 Travel In Style 22 Saving For Retirement 24

Recommended Service Directory

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TRENDING LOCATIONS TO VISIT THIS YEAR

Destination

Vacations

If you are looking for an exciting and affordable travel destination, consider the following locations.

1. Hawaii is a tropical paradise loved by all. It offers a rich marine life, unmatched underwater experiences, gorgeous landscapes, volcanoes, and interesting history. Of the six largest islands, Maui has the state’s most beautiful beaches - some with white sand and others with red or black sand. Oahu has Hawaii’s largest city and capital, Honolulu, which is known for Waikiki Beach and Pearl Harbor’s World War II memorials. The weather is perfect and there are endless opportunities for adventure. 2. Barcelona is both a beautiful city as well as a renowned beach town. It boasts a lively nightlife, lots of activities, and restaurants galore. There are amazing museums and galleries; Including the Picasso and Salvador Dali Museums, La Sagrada Familia, and other buildings by renowned architect Antoni Gaudi. Las Ramblas, the main walking street ends with a monument to Christopher Columbus honoring his discovery of the new world. 3. The Bahamas, which is made up of a series of islands, has the clearest turquoise water on the planet, as well as white sandy beaches.

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Underwater adventures abound - dive for Spanish galleons, seek out the caves, or go sailing or fishing. The Bahamas offers a plethora of Eco-tourism options, from bird watching to hiking. Nassau offers a few cultural sites like Ardastra Gardens and the Conservation center, in addition to being the capital city, but the Bahamas is great for island hopping as well. Or just pick one of the great resorts and relax at the beach.

cafes and restaurants, exciting night life and a 24 hour a day culture. History abounds and there are interesting museums including the Tel Aviv Museum and the Eretz Israel Museum which covers archeology, folklore, crafts and features an on-site excavation of 12th century-BC ruins. Tel Aviv is also the technology and financial center of Israel.

4. Tel Aviv, known as the nonstop city, is a vibrant and exciting city on the Mediterranean Sea. It offers beautiful beaches, great 5


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LUXURY

LIVING IDEAS

Upgrading your home is only limited by your imagination and budget. Is it a luxury bath, fabulous kitchen, incredible master suite or home theatre that you desire?

KITCHEN Your kitchen is probably the heart of your home. This is where memories are made and shared as families love to congregate in the kitchen. The possibilities are endless. White is the most popular color for cabinetry but combining cabinet colors is the latest trend in kitchen design. Blues and greens are also becoming popular. Quartz is the latest for countertops and islands. Commercial-grade appliances, extra sinks and dishwashers all add to the luxury kitchen. Also popular are pizza ovens, appliance garages, warming drawers and under- counter refrigerators for wine and other drinks. If you have space, consider a butler’s pantry which acts like a second kitchen - great for caterers or just an extra space for food prep without disturbing the main kitchen area.

BATH For a luxurious bath, create a spa-worthy retreat. Consider heated floors and towel racks, a steam shower and a large soaking tub. Create a separate water closet for the latest in remote controlled toilets that feature a night light, bidet and self cleaning feature. Turn a great piece of furniture into your double sink vanity for a sophisticated look. And why not have a sofa and television for added ambiance. 6

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MASTER SUITE Add a mini-kitchen which includes a small fridge and coffee bar along with a sitting area so that you can enjoy your wine or coffee first thing in the morning or at the end of the day. Fireplaces are another nice touch for a romantic setting. If your home is equipped with gas, they are an easy addition.

LUXURY

LIVING IDEAS

MOVIE ROOM If you have a spare room, create your own private theatre with a high-definition flat screen tv, surround sound and theatre seating. A popcorn machine and fridge for drinks are nice additions. 7


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INVESTING FOR THE FUTURE Not many people stumble into financial security through sheer luck: a lottery win, big inheritance, or huge stock winnings. For most of us the only way to financial security is a long term plan of saving and investing. Consistency is key to reaching long term goals no matter your income. The sooner you start saving and investing, the longer your money has to compound and grow. Set goals for how much of your income you will invest monthly and stick to it. Keep investment money and cash reserves separate so you won’t dip into your investment account when the market is down. Keep expenses low and spend on what is really important to you whether it is experiences or material things. Try to avoid the big mistakes, like buying a home that is more than you really need or creating a heavy debt load. If your employer offers a matching 401(k) contribution, be sure to take advantage of that option and contribute at least enough to receive it. It is essentially 8

extra income that will grow and compound and is not taxed until you withdraw it. You can do it yourself but it probably makes more sense to work with a financial advisor who is more knowledgeable about financial markets. An advisor will help analyze short term vs long term needs, separate emotions from objectives as well as help with devising a portfolio and strategy suitable for your needs. Investing consistently over the long term is the best way to grow your wealth as there is no way to time the market.


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RETIRE WITHOUT CHANGING YOUR LIFESTYLE

Today’s upscale senior communities offer “resort style living” which is hospitality-oriented and resembles a 4-star hotel or cruise ship rather than a hospital or retirement home. Amenities Some of the more luxurious communities at the deluxe level even feature lively bars with chandeliers and overstuffed pillows. More standard amenities include:

Activities: Education and Entertainment, Fashion shows, Lectures from retired professors and various social and cultural events which are all examples of regularly planned activities for residents at higher-end facilities. In urban settings, planned outings to the city for museums, art galleries or theater visits are frequent occurrences as well. Grounds-keeping: Luxury communities are beautifully designed on the outside as well, from gardens to ponds to putting greens and walkways. Many include well-appointed courtyards for residents to socialize, relax, or enjoy a meal. Concierge Service: Offering ‘Concierge Service’ is what makes a Senior Living community a Luxury one. Similar to a hotel concierge, a resident can use the Concierge to arrange hotel flights or tickets to events, a service that makes these luxury communities clearly more desirable to prospective residents and their families. 10

Modern Therapies: Assisted living communities offer personal care to their residents, and the best communities often offer top notch therapy on top of standard care. In addition to specialized pet and physical therapy, upscale communities often also provide top notch occupational therapy, and music therapy, and always from trained and certified professionals. Residences: The kitchen is the focal point of any home and it’s no different when looking at the residence at an Assisted Living community. A standard assisted living apartment has a kitchenette, traditionally including a mini-fridge, a microwave, and a small amount of cabinet and counter space. The luxury assisted living residences feature full kitchens and appliances plus top of the line finishes, like granite counter tops for instance. (. . .continued on page 11)


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Dining: An upscale senior living community will most likely retain a registered dietitian on staff and employ experienced chefs who serve gourmet meals. Choice and variety are crucial for the success of a kitchen at a luxurious community and most have more than two restaurants within the community, each with their own menus. Personal Fitness Trainers and Recreational Facilities: Recreation rooms are always available to use at the residents’ convenience, with computer labs, fitness rooms and cinemas. Fitness programs supervised by physical therapists and personal trainers are also kept on staff by any upscale community. High-end assisted living communities also provide full service spa treatments, beauty salons for the women and barbershops for the men. Additionally, no luxury assisted living community would be complete without a heated pool and spa, which are always popular with residents.

allowing residents to have their pets on site. There can sometimes be limitations regarding the size and number of pets. They frequently provide pet care such as dog walking, nail clipping, grooming and litter-box changes as well as formal, certified pet therapy. Spacious Apartments: One can expect about 20% more square footage at a Luxury community (approx 600 sf versus 500 sf at a standard community). A Two bedroom apartment at an upscale community can be more than 1200 square feet. Clearly, senior living is not what it was years ago. And for the retiree with means, it can be a lively, active, and rewarding lifestyle full of growth and fun!

Pet Friendly: Studies have shown that pet ownership has been shown to be beneficial to seniors, and more and more luxury communities are open to 11


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LOCAL EVENTS GUIDE

BALTIMORE PLEASE NOTE: WE’RE AWARE THAT THESE UNCERTAIN TIMES ARE LIMITING MANY ASPECTS OF LIFE AS WE ALL PRACTICE SOCIAL AND PHYSICAL DISTANCING. DUE TO THE CURRENT OUTBREAK, MANY EVENTS HAVE EITHER BEEN CANCELLED, RESCHEDULED, OR CHANGED TO VIRTUAL EVENTS. PLEASE VERIFY ALL EVENTS PRIOR TO ATTENDING. THANK YOU.

MARCH

MAR 13-14 | Old Time Music Fest The second annual tuneful gathering of the best of the old, with performances from the Foghorn Stringband, Amythyst Kiah, Bill and the Belles, Red Tail Ring, T-Mart Rounders, Becky Hill and more. Workshops, too, so maybe you could play a future festival. Opening concert 8 p.m. March 13 ($25-$32), with performances and workshops noon-midnight March 14 ($50-$58, $10-$15 for post-6 p.m. dance and concerts only); two-day passes run $60-$75. At the Creative Alliance, 3134 Eastern Ave. in Highlandtown. For more information please visit: creativealliance.org MAR 26 | Orioles Opening Day Get a first look at the new-lookyear-2 Orioles (and see how many faces you recognize from the year 1 edition) as the Birds take on the dreaded Yankees to open the 2020 season. 3:05 p.m. at Oriole Park at Camden Yards, 333 W. Camden St. orioles.com. And for baseball fanatics, here are the home openers for Maryland’s six minor-league teams: Bowie Baysox, 6:35 p.m. April 9 vs. Richmond; Delmarva Shore14

birds, 7:05 p.m. April 9 vs. Asheville; Frederick Keys, 6:30 p.m. April 16 vs. Myrtle Beach; Hagerstown Suns, April 16 vs. Delmarva (time TBD); Southern Maryland Blue Crabs, 6:35 p.m. May 8 vs. High Point; Aberdeen Ironbirds, June 18 vs. Hudson Valley (time TBD). For more information visit: orioles.com

APRIL

APR 2-26 | “Where We Stand” This newest work from Brooklyn-based playwright Donnetta Lavinia Grays is a “fable of penance” involving the devil, a lonely soul “stripped of companionship” and a town “running low on compassion.” 7:30 p.m. Tuesdays-Thursdays, 8 p.m. Fridays and Saturdays, 2 p.m. Saturdays (except April 4) and Sundays (also April 22) at Baltimore Center Stage, 700 N. Calvert St. $20-$74. For more information visit: centerstage.org APR 24-25 Charm City Bluegrass Fest What could be better than sitting outside, listening to live music, enjoying a local brew and letting your kids play with bubbles? Each spring Baltimore’s Druid Hill Park hosts the (. . .continued on page 15)


LOCAL EVENTS GUIDE

BALTIMORE PLEASE NOTE: WE’RE AWARE THAT THESE UNCERTAIN TIMES ARE LIMITING MANY ASPECTS OF LIFE AS WE ALL PRACTICE SOCIAL AND PHYSICAL DISTANCING. DUE TO THE CURRENT OUTBREAK, MANY EVENTS HAVE EITHER BEEN CANCELLED, RESCHEDULED, OR CHANGED TO VIRTUAL EVENTS. PLEASE VERIFY ALL EVENTS PRIOR TO ATTENDING. THANK YOU.

(. . .continued from 14) best in national and regional talent from across the old time, bluegrass and roots music traditions. For more info visit: charmcitybluegrass.com APR 29 - MAY 3 Maryland Film Festival Baltimore’s annual cinematic bacchanal, featuring scores of features, documentaries and shorts, many from filmmakers determined to go where no filmmaker has gone before, almost all the sort of thing that will never play the multiplex. Come get a look at where movies are headed, and meet some of the men and women anxious to take them there. Films are screened at the SNF Parkway, 5 W. North Ave., and other nearby venues. For more info visit: mdfilmfest.com

MAY

MAY 1-2 | FlowerMart Baltimore’s most genteel tradition, a staple of spring as far back as 1911, returns with all the food, entertainment, flowers, fancy hats and (of course) lemon sticks a city could ask for. 11 a.m.-8 p.m. both days in and around Mount Vernon Place, Charles and Monument streets. mvpconservancy.org/flowermart2020

MAY 5-17 | “Dear Evan Hansen” The Tony-winning Best Musical about an outcast high school student and his often misguided attempts to find somewhere to fit in, with music and lyrics by Benj Pasek and Justin Paul (the duo responsible for “La La Land”), comes to the Hippodrome Theatre at the France-Merrick PAC, 12 N. Eutaw St. 8 p.m. Tuesdays-Saturdays, 2 p.m. Saturdays, 1 p.m. and 6:30 p.m. Sundays. For more info visit: france-merrickpac.com MAY 16 | Preakness With a proposal finally in place to ensure this middle jewel of horse racing’s triple crown stays in Baltimore for generations to come, this year’s running of the 145th Preakness Stakes should really be a cause to celebrate. Post time is always around 6 p.m., and advance tickets are available for $150-$240. Pimlico Race Course, 5201 Park Heights Ave. For more info visit: preakness.com

JUNE

JUN 8 | David Crosby An icon of counter culture and one-third of folk’s most revered supergroup, David Crosby has been (. . .continued on page 16)

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LOCAL EVENTS GUIDE

BALTIMORE PLEASE NOTE: WE’RE AWARE THAT THESE UNCERTAIN TIMES ARE LIMITING MANY ASPECTS OF LIFE AS WE ALL PRACTICE SOCIAL AND PHYSICAL DISTANCING. DUE TO THE CURRENT OUTBREAK, MANY EVENTS HAVE EITHER BEEN CANCELLED, RESCHEDULED, OR CHANGED TO VIRTUAL EVENTS. PLEASE VERIFY ALL EVENTS PRIOR TO ATTENDING. THANK YOU.

(. . .continued from 15) honing his trademark harmonic style since the early sixties. A contemporary of Dylan, it wasn’t until he began writing with The Byrds that he truly found his own voice, beginning with his first solo-record ‘If Only I Could Remember My Name’ in 1971. Catch him this spring as he embarks on another leg of his Sky Trails Tour with the Sky Trails band. baltimore-theater.com JUN 13 | Wing & Chicken Festival Featuring a variety of mouthwatering delectables from over 20 of the area’s best restaurants & food trucks. Get ready for a variety of dishes & features with over 60+ styles of wings along with traditional & unique chicken inspired dishes including: grilled & fried chicken sandwiches, chicken & waffles, chicken empandas, buffalo wings, chicken mac & cheese tacos, and many more! Vendors from throughout the city & surrounding areas will be in attendance to showcase their chicken masterpieces! For more info visit: wingfestivals.com/baltimore

JULY

JUL 2 | Alanis Morissette The singer-songwriter who made a chart-topping single out of seeming incongruities with “Ironic” (and really, were there many better albums to come out of the ’90s than “Jagged Little Pill”?) plays Merriweather Post Pavilion, 10475 Little Patuxent Parkway in Columbia. 7 p.m. $66-$166. For more info visit: merriweathermusic.com JUL 17-19 | Artscape Baltimore’s proudly egalitarian festival of the arts returns to the area surrounding Charles Street and Mount Royal Avenue for a 39th edition, offering all manner of free music, dance and performance. Add to that an art market, plenty of food opportunities and a sense of wonder and discovery in which everything is possible, and you begin to understand why Artscape is the most welcome weekend of every Baltimore summer. For more info visit: artscape.org

AUGUST

AUG 27-SEP 7 | MD State Fair Livestock and agricultural exhibits from all over the Free State, every16

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LOCAL EVENTS GUIDE

BALTIMORE PLEASE NOTE: WE’RE AWARE THAT THESE UNCERTAIN TIMES ARE LIMITING MANY ASPECTS OF LIFE AS WE ALL PRACTICE SOCIAL AND PHYSICAL DISTANCING. DUE TO THE CURRENT OUTBREAK, MANY EVENTS HAVE EITHER BEEN CANCELLED, RESCHEDULED, OR CHANGED TO VIRTUAL EVENTS. PLEASE VERIFY ALL EVENTS PRIOR TO ATTENDING. THANK YOU.

(. . .continued from 16) thing from cows, pigs and roosters to luscious tomatoes and giant pumpkins, plus horse racing, a carnival midway, an exhibit hall filled with vendors offering just about everything, and food, food, food. Come for the Ferris wheel and pig races, stay for the big-name concerts and farm-fresh ice cream. Maryland State Fairgrounds, 2200 York Road in Timonium. For more info visit: marylandstatefair.com

SEPTEMBER

SEP 9-14 | MD Fleet Week & Air Show Baltimore Celebrating the water and skies surrounding Baltimore, with U.S. and international navy vessels (most open for tours Sept. 10-13, always cool), the Navy’s Blue Angels (flying over Fort McHenry and Middle Branch Sept. 12-13) and festivals at the Inner Harbor (Sept. 11-13) and Martin State Airport, 701 Wilson Point Road in Middle River (Sept. 12-13). Begins with a welcoming ceremony Sept. 9 at the Inner Harbor Amphitheater, Pratt and Light streets. For more info visit: visitmaryland.org

SEP 24-26 Mid-Atlantic Nostalgia Convention A chance to meet and get autographs from some movie and TV stars of yesteryear. This year’s lineup will include Hayley Mills (“The Parent Trap”), Jerry Mathers (“Leave It to Beaver”), Adrienne Barbeau (“Maude”), Oscar-winner Louis Gossett Jr. (“An Officer and a Gentleman”) and others. At the Hunt Valley Delta Hotel, 245 Shawan Road. For more information visit: midatlanticnostalgiaconvention.com

OCTOBER

OCT 17 | Baltimore Running Fest The Baltimore Marathon and various other races beckon the fit among us. The marathon starts at 8 a.m. at Paca and Camden streets, on a course winding its way through the Inner Harbor, Federal Hill, Fells Point, Lake Montebello, even the Maryland Zoo in Baltimore. A half-marathon begins at 9:45 a.m. and a 5K at 7:30 a.m. at Pratt and Light streets, with a team relay set for 8 a.m. at Paca and Camden Streets. For more information visit: thebaltimoremarathon.com

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LOCAL EVENTS GUIDE

BALTIMORE PLEASE NOTE: WE’RE AWARE THAT THESE UNCERTAIN TIMES ARE LIMITING MANY ASPECTS OF LIFE AS WE ALL PRACTICE SOCIAL AND PHYSICAL DISTANCING. DUE TO THE CURRENT OUTBREAK, MANY EVENTS HAVE EITHER BEEN CANCELLED, RESCHEDULED, OR CHANGED TO VIRTUAL EVENTS. PLEASE VERIFY ALL EVENTS PRIOR TO ATTENDING. THANK YOU.

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NOVEMBER

NOV 24-JAN 1 Miracle on 34th Street Miracle on 34th Street is a display of holiday lights that takes place annually on the 700 block of 34th Street in the Hampden community. The display, which involves the residents of most of the houses on the block, started in 1947, and takes place between late November and late December. The location becomes a major attraction for visitors from all over the area. For more info visit: christmasstreet.com NOV 27-29 | Festival of Trees A three-day, family event featuring more than 800 uniquely decorated holiday trees, wreaths and gingerbread houses, live entertainment, over 100 gift boutiques and Santa himself. All gathered to support the children of Kennedy Krieger Institute. For more information visit: festivaloftrees.kennedykrieger.org

DECEMBER

NOV 27-DEC 6 | TITLEHERE The Festival of Wreaths is one of the most well-attended holiday events in Carroll County. Each year more than 150 theme wreaths are dis18

played through this weeklong silent auction and is one of the Arts Council’s most significant fundraising events. Experience a wonderland of creativity and generosity, vote for your favorites and bid on those you would like to take home (or give as gifts!) in this spectacular event. carrollcountyartscouncil.org/festivalof-wreaths

NOV 21 - DEC 24 Christmas Village Baltimore Christmas Village in Baltimore will transform West Shore Park at Baltimore’s Inner Harbor into an authentic German Christmas market. Over 50 local and international vendors will offer their unique giftware. baltimore-christmas.com

JANUARY

JAN 20 | Annual MLK Parade The 20th Anniversary of the Dr. Martin Luther King, Jr. Parade features more than 70 units, including high school and community marching bands, cheer and dance squads, street theater performers, elected officials, civic and religious organizations, military units and equestrian groups. The 2020 honorary grand marshal is Raheem DeVaughn, (. . .continued on page 19)


LOCAL EVENTS GUIDE

BALTIMORE PLEASE NOTE: WE’RE AWARE THAT THESE UNCERTAIN TIMES ARE LIMITING MANY ASPECTS OF LIFE AS WE ALL PRACTICE SOCIAL AND PHYSICAL DISTANCING. DUE TO THE CURRENT OUTBREAK, MANY EVENTS HAVE EITHER BEEN CANCELLED, RESCHEDULED, OR CHANGED TO VIRTUAL EVENTS. PLEASE VERIFY ALL EVENTS PRIOR TO ATTENDING. THANK YOU.

(. . .continued from 18) three-time Grammy-nominated singer/songwriter and international R&B star. The parade steps off at the intersection of Martin Luther King Jr. Boulevard and Eutaw Street, proceeds south on Martin Luther King Jr. Boulevard and disbands at Baltimore Street. For more info visit: promotionandarts.org

FEBRUARY

FEB (TBD) | Fire & Ice Festival The festival will feature dozens of ice sculptures spread throughout Easton’s historic district. The Discover Easton Signature Event will kick off with a Friday night Ice Block Party on February 14. The celebration will feature free live music and fire performances, outdoor ice skating, and the unveiling of the weekend’s ice sculptures with a free self-guided tour and light display. A grand ice carving demonstration, sponsored by Preston Automotive Group and Safehouse, LLC, is the featured ice attraction during the Ice Block Party Friday evening. Watch as 3,000 pounds of ice will be carved into a spectacular work of art by the team of carvers from Ice Lab. For more info visit: fireandicefest.com

FEB (TBD) | Ornamenta Every winter, the Baltimore Jewelry Center hosts Ornamenta, a fundraiser that provides us the opportunity to raise much needed funds while exposing a larger community to the work we do. At our 2019 fundraiser, we raised almost $42,000. We couldn’t have done it without our community! The Baltimore Jewelry Center is dependent on fundraising and donations to operate our educational and studio rental program. These funds allow us to offer our classes and workshops at a below-market rate while paying our instructors competitive wages. Furthermore, this revenue allows us to offer free workshops in our neighborhood in Station North, operate our residency program, offer scholarships, provide programming for kids and teens, and host prestigious exhibitions that present the work of local, national and international artists. For more info visit: www.baltimorejewelrycenter.org/ ornamenta

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Travel in Style – by Bonnie Roseman

If there’s anything I’ve learned in my 35 years as a stylist, it’s to “carry on,” and by that of course, I mean take a carry-on bag! In order to make travel easier for my busy clients, I’ve spent years developing techniques to make traveling simple and fun. A carry-on bag is key to making your journey more enjoyable; no more hauling multiple bags, or worrying about losing your luggage, which can ruin your trip before you even begin! In my most recent trip abroad, I traveled to the Scandinavian countries before flying to Greece for a little sun in the Cycladic Islands. After that, it was off to Italy and over the Alps. All the while, I had just one bag with me. 20


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To make the most of your luggage space, I suggest you wear your jeans and sneakers, and carry your leather jacket while you travel, to save space in your bag. Roll all items tightly! It saves space, and keeps everything from wrinkling. I usually prefer to stuff my undies and socks in my shoes. Select pieces with fabrics that can wash and hang to dry without needing to be pressed – it’s easier to keep things fresh and avoid using foreign cleaners that can be very expensive. Here are the basics for 6 weeks of traveling abroad across different climates. This short, gender-neutral list includes the basics for a great travel wardrobe. I recommend that your main wardrobe color for travel be black. It looks slimming on everyone, and doesn’t show dirt as easily. A few colorful tee tops can be added to give a little zip to your ensemble. All of these items will fit into your carry-on luggage and provide options for mixing and matching stylish looks while you see the world. You can then personalize your list by adding your toiletries, gloves, hat, or other essential accessories as needed.

TRAVEL WARDROBE Underwear 6 undergarments 6 pairs of socks Pajamas (your choice) Outerwear 2 tee shirts 2 button down shirts (one dressy, one casual) 2 pairs of pants (one jean, one black trouser) 1 pair of shorts 2 jackets (one leather, one raincoat) 1 cashmere sweater (pullover or cardigan) 1 bathing suit 1 basic black blazer (can be worn day or night) Accessories Scarves (colorful, lightweight) Belts (at least one black) Jewelry (a few pop pieces) 1 tie (traditional or bow tie) Shoes One heel or dress shoe One pair of flats (for day or night) One pair of sandals

Feel good, and look even better! Please contact me personally if you have any questions or would like to see my unique travel collection which can be dressed up or down. Bonnie@bonnieroseman.com | www.bonnieroseman.com | 917-209-0516 Bonnie Roseman Bio Fashion Designer. Style Consultant. Wardrobe Architect. The press has designated Bonnie Roseman as the ultimate fashion expert over the years. Featured on the NBC Today Show, People Magazine, and more, Roseman furthered her B-L-T brand by presenting her collection through the Home Shopping Network and Home Shopping Europe. Bonnie Roseman’s BLT has evolved into a full service boutique for women of all body types and lifestyles, featuring wrinkle-free fabrics and unique accessories that pack well and travel lightly wherever you go. Schedule with Bonnie and she’ll tell you all the secrets she’s been telling her clients for over 30 years. 21


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10 Year Countdown

To Retirement

Money See Where You Stand - It’s time to assess how prepared, or unprepared, you are financially for retirement. • Take a quick test: Assuming your retirement is about 10 years away, you want to have roughly seven times your current salary in savings, according to research from Fidelity. That puts you on the road to having about 10 times your final salary saved by retirement and maintaining your present standard of living. Retire before hitting 67 and you’ll need more saved; after, you’ll need less. • D . o a deeper dive: Plug your current numbers (such as earnings, savings and future pensions) into an online calculator to estimate your retirement income. Experts say you’ll need 75 to 80 percent of preretirement income to live well — debatable but a good starting point. • D . on’t despair: You have 10 years to act, by earning more, trimming expenses or delaying retirement. “Whatever you can do can only help,” says George Papadopoulos, a financial planner in Novi, Mich.

Save the easy way If you’re among the 82 percent of workers paid via direct deposit, save more by splitting your pay across accounts. Have your payroll department put part of each check into an online savings account, where it’s out of sight and out of mind. The direct-deposit users who split their deposits save up to $90 more per month than those who use another method to save, according to a recent study.

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Pad your nest egg If you already have significant savings in a 401(k), 403(b) or IRA, open a Roth IRA (in 2019 you can contribute up to $7,000 if you’re 50 or older), or put money into a regular taxable account. •

Why do it? You’re laying the groundwork for lower taxes later. Say you need a new roof on your house in retirement; If you take money from a 401(k) or traditional IRA, it is taxable as ordinary income, and you may end up in a higher tax bracket, explains Carolyn McClanahan, founder of Life Planning Partners. But you can pull your contributions from a Roth IRA tax free (earnings, too, if you’re at least 59½ and have had the Roth at least five years). You can also invest via a basic taxable brokerage account; when you sell securities, you’ll pay only (usually lower) capital gains taxes on the profits.

Pay down the mortgage The problem with a mortgage in retirement is that you may have to sell investments to cover payments. And sometimes that will be when the markets are down - the worst possible time to sell, says Shelley Giordano, chair of the Funding Longevity Task Force at the American College of Financial Services. Her advice: 1. In place of your monthly payments, make half payments every two weeks. Those 26 payments per year are the equivalent of 13 monthly payments, resulting in a faster payoff and lower total interest costs. 2. Got a tax refund? A bonus? A side job? Apply that to your principal. 3. Avoid refinancing your mortgage, since a new loan with a later payoff date means more of your monthly payment goes to interest expense, not an increase in your home equity. 4. Don’t use a home equity loan or line of credit for purchases. The new tax law makes that less attractive, says Giordano. And this is the wrong time to be growing your mortgage debt. (. . .continued on page 25)

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RECOMMENDED SERVICE DIRECTORY

FAMILY LAW Lebovitz Law..................................................................................................................................................1 GERIATRIC CARE The Option group........................................................................................................................................9 HISTORICAL SOCIETY Maryland Historical Society....................................................................................................................9 MEMORIALS & MARKERS Merkle Monuments.....................................................................................................................................3 NON PROFIT Acts Retirement-Life Communities..............................................................................................12-13 PROPERTY MANAGEMENT Quiza Management LLC....................................................................................... Front Inside Cover REAL ESTATE CONSULTANT Perry Hall Investment Group..................................................................................................................3 RETIREMENT COMMUNITY Acts Retirement-Life Communities..............................................................................................12-13 ROOFING Long Roofing................................................................................................ Front Cover, Back Cover

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Put new retirement savings to work Not sure where to invest additional money? Aim for growth, somewhere between a trip to Vegas and stuffing cash into your mattress. The sweet spot •. Balanced mutual funds: Seek a mix of stocks and bonds;

a 50/50 or 60/40 ratio of stocks to bonds is reasonable. • Target-date mutual funds: These balanced funds automatically adjust investments to lower risk as you age.

Conservative but sound • High-grade corporate bond funds • Money market accounts • U.S. government bond funds • Certificates of deposit and online savings accounts (See bankrate.com for Federal Deposit Insurance Corp.–insured banks offering higher rates.) • Series I inflation-protected savings bonds (sold at treasurydirect.gov)

Work Prepare Your Plan B - Ask yourself these questions, and be honest. 1. Do I work in a stable and growing industry? 2. Do I work for a stable and growing company? 3. Is my heart still in it? Have you answered no to any? It’s time to update your LinkedIn profile and see what else is out there.

• Why do it: Only about half of workers cruise their way to a planned, voluntary

retirement; the rest of us exit prematurely, often as a result of job loss or burnout. You still have time to regroup. “With 10 years to go, there is still enough runway to make a mark,” says career and retirement expert Nancy Collamer.

• .How to do it: You know the routine. Tell people who can help you. Sign up for job alerts on the go-to site in your industry. Browse the postings that interest you, and note the skills that employers are seeking.

• .Want to stay put? Get busy anyway. “Whether you drive a bus or work in a store or in a professional occupation, maximize your opportunities by building your capital,” Collamer advises. “Give talks or write articles to boost your profile, or take advantage of short-term training programs.” One option: Go to linkedin. com/learning and get online access to thousands of business, creative and technology courses for $30 per month. Miller, Mark and Powell, Robert, AARP (2019, Feb 6). Countdown to Retirement: 10 Years [Web log post]. Retrieved from https://www.aarp.org/retirement/planning-for-retirement/info-2019/10-year-countdown.html

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