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SRQ DAILY Jan 26, 2015

Monday Business Edition

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Monday Business Edition

"More people are asking the question, 'Will I run out of money?'"

- Kelly Caldwell, Caldwell Trust Company
 

[Demographics]  Bradenton, North Port See Rapid Growth

Florida population estimates, released last week by the University of Florida Bureau of Economic and Business Research, show North Port and Bradenton as Southwest Florida's fastest growing cities this decade, with Sarasota maintaining a population still greater than Bradenton's. Meanwhile, some smaller communities like Longboat Key and Bradenton Beach have seen populations decline. The total population of Manatee County since 2010 has grown 16,712, to a population of 339,545 including unicorporated areas, while Sarasota County has grown by 7,692, to a population of 387,140. 

[SB2]  Reinvent Retirement: Boomers and Caregivers
Jacob Ogles, jacob.ogles@srqme.com

Advances in health care and improvements in lifestyle allow the generation of retirees moving to Southwest Florida today to live longer and more active lives in retirement, but that in turn is changing the fundamental paradigms of financial planning. At the most recent installment of SB2, on the topic “Reinvent Retirement: Boomers and Caregivers,” experts discussed how today’s aging population desires more independence, and explored how that can be achieved. 

Kelly Caldwell, Caldwell Trust Company CEO, noted that in 1970, people retired at 65 and the life expectancy was 70. Now average life expectancy is 85, and plenty live past 100. “More people are asking the question, ‘Will I run out of money?’ or ‘Do I have enough money?,’ “ Caldwell said. “If I am sitting down with someone, I talk about how much they want to have at a certain point in life. To achieve that, you can work longer, you can work part time—a $20,000-income in retirement is like having $400,000 extra in the bank—or you can lower your quality of life expectations.” And the need for solid planning runs the gamut of aging individuals. “Even our wealthiest of clients can get in a situation that is very uncomfortable,” said Aubrey Lynch, a principal at CS&L CPAs. More are realizing they need a financial plan, and the plan needs to be well understood by family members, including spouses, children and potentially in-laws and stepchildren.

Erin McLeod, The Friendship Centers senior vice president, said many of today’s retirement-age citizens had planned on selling homes they owned for years to help pay for retirement, medical expenses associated with aging and potential assisted living costs, but the housing market bust derailed that. Now seniors are finding ways to continue producing in a changing world. “We have employees who are working well into their 70s and 90s,” she said. “We’ve got waiting lists for our computer classes because people today don’t want to be left in the dust.” Tim Hearon, CEO of Boomerswork.US, specializes in finding work for the over-65 set and has found many employers still want someone with solid work background over a younger person with more tech-savvy. “They may not always want a college graduate just because he can use an iPad,” Hearon said. Managerial experience in a specific field can lead to a great hire on a permanent or interim basis. 

The expectations can vary by age group, according to Kathy Black, professor of Social Work and Gerentology ay the University of South Florida, Sarasota-Manatee. Many younger Baby Boomers want lifelong work, or want to start a second career when they get older. “We want to know how we will manage a multigenerational workforce,” she said. And Robert Karnick, of Robrady Design, said the independence of the aging Boomer generation could create opportunities all around. The desire for independence creates demand for products and workers in the home health care field, and also spurs technological advances that allow people more healthy and active lives. “How do we take these things forward and make them relevant and usable to people in the aging population?,” he said. That question creates opportunities in tech, design and a variety of other fields. 

[Opening]  Arhaus Opening at UTC

Arhaus, an Ohio-based home furnishings retailer, will open the doors to its fourth store in Florida inside The Mall at University Town Center in Sarasota on Feb. 27. The 12,339-square-foot single-story space is located near Macy’s on the first floor and showcases lifestyle vignettes of handcrafted furniture and accessories, infused with the unexpected—antiques from Indonesia and Paris, exotic and everyday fresh florals, and hand-painted murals.The three other Arhaus store locations in the state are located in Naples, Palm Beach Gardens and Jacksonville. 

Arhaus

[Nonprofit]  Mote Launches $50-million Campaign

Mote Marine Laboratory announced a new $50-million fundraising campaign to expand the Lab’s impact in marine science and education locally and globally. The new fundraising drive kicked off at the Sarasota institution’s 60th Anniversary with a celebration Thursday, where Mote leaders unveiled Oceans of Opportunity: the Campaign for Mote Marine Laboratory to 225 supporters, contributors and friends of the independent, nonprofit Lab. The campaign, Mote’s first multi-year, comprehensive fundraising effort, marks a pivotal moment for the Lab’s science and education missions, officials said. 

Mote Marine Laboratory

[Expansion]  Neal Employs 60 New Employees

Neal Communities since the beginning of 2014 has added 60 new employees in response to company growth.Overall, the Neal team sold a company record 864 new homes in 2014, earning $276 million in revenue and opening nine new communities from Manatee County to Collier. The company hired 52 new employees in 2014, with eight more jobs filled in the first two weeks of 2015. Those numbers represent a greater than 20 percent increase in the company’s workforce. Additionally, Neal is currently interviewing candidates for four more positions in its southern division, with six more scheduled to open up later this year. 

Neal Communities

SRQ Media Group

SRQ DAILY is produced by SRQ | The Magazine. Note: The views and opinions expressed in the Saturday Perspectives Edition and in the Letters department of SRQ DAILY are those of the author(s) and do not imply endorsement by SRQ Media. Senior Editor Jacob Ogles edits the Saturday Perspective Edition, Letters and Guest Contributor columns.In the CocoTele department, SRQ DAILY is providing excerpts from news releases as a public service. Reference to any specific product or entity does not constitute an endorsement or recommendation by SRQ DAILY. The views expressed by individuals are their own and their appearance in this section does not imply an endorsement of them or any entity they represent. For rates on SRQ DAILY banner advertising and sponsored content opportunities, please contact Ashley Ryan Cannon at 941-365-7702 x211 or via email

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