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Retirement confidence hits new low

Study shows Americans not saving enough

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Facing the realities of economic conditions, American workers’ confidence in being able to afford a comfortable retirement slid to its lowest level since the Retirement Confidence Survey began 20 years ago. More than a quarter (27 percent) of workers said they are “not at all confident” about retirement, up 5 percent from a year ago. Results of the 2011 RCS released in March reveal that the economy, unemployment, government fiscal crises, investment returns, and health care costs are creating a “New Normal” in which retirees are delaying retirement.

Meanwhile, confidence and saving habits continue to be better among those who have prepared a retirement needs calculation. Further, confidence, likelihood of having saved, and total savings and investments all increase with higher household income and education, and good health status. Other important factors include participation in employer-sponsored retirement plans and debt level.

Highlights of the survey, conducted by the Employee Benefit Research Institute (EBRI) and Mathew Greenwald & Associates through random telephone interviews with 1,258 individuals, include the following about workers and retirees:

Consistent with the record lack of confidence, the percentage of workers “very confident” about having enough money for a “comfortable retirement” sank to a low of 13 percent, down from 16 percent in 2010 and equal to 2009. This measure has tumbled from 27 percent in 2007 with the financial markets turmoil in 2008 and ensuing economic malaise.

Nearly a quarter (24 percent) of retirees reported that they are “very confident” in having a “financially secure” retirement, statistically equal to the 19 percent tallied in 2010. The proportion of “somewhat confident” retirees dropped to 36 percent from 41, while retirees “not too confident” and “not at all confident” was essentially unchanged at 38 percent versus 39.

Planning by Workers: With only 42 percent of workers saying that they and/or their spouse have tried to calculate how much of a nest egg they will need for a comfortable retirement, a majority remains unaware of how much they need to save for retirement. Although this measure has remained relatively stable since 2003, ranging from 43 to 47 percent, it retreated from 46 percent in 2010.

Planning by Retirees: Nearly seven in 10 retirees (69 percent) indicate they did some type of financial planning for retirement, with 43 percent of these retirees saying they began to plan 20 years or more before they retired. Another 23 percent report beginning to plan between 10 and 19 years before retirement. However, 13 percent started planning five to nine years before retirement and 16 percent started less than five years before retirement.

Instead of doing a systematic retirement needs calculation, 42 percent of workers “guessed” how much they will need to accumulate.  Only 11 percent of those who report having done a calculation guess how much they will need to accumulate, while 65 percent who have not done a calculation guess. An equal number (21 percent) each report asking a financial adviser and doing their own estimate, while 9 percent read or hear how much is needed, 7 percent use an online calculator, and 5 percent base their estimate on their current expenses or lifestyle or fill out a worksheet or form.

Savings and investments are minimal for many: more than one-half (56 percent) of all workers reported total savings and investments (not including value of primary residence or defined benefit pension plans) of less than $25,000. Further, 29 percent of workers said they have less than $1,000 in savings, up from 27 percent last year and 20 percent in 2009.  Only 24 percent indicated savings and investments of more than $100,000, of which 10 percent had accumulated $250,000 or more.

Economic factors continue to influence when workers will retire, with 20 percent expecting to postpone their retirement age.

A retirement savings calculation is a very effective tool for changing retirement planning behavior, with 44 percent of workers who calculated a goal amount reported having made changes to their retirement planning as a result. Boost your retirement confidence by calculating how much of a future nest egg you will need for a comfortable retirement.

(This article is for informational purposes only and is not financial, legal, or tax advice. Please consult with your adviser before making any decisions.)

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Real Estate

With gas prices soaring again, a staycation is a good plan

Home can be your personal retreat and your own private resort

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Retreat to your own deck or backyard for an affordable, stress-free staycation. (Photo by Artazum LLC/Bigstock)

When airfare costs more than your monthly utility bill and a weekend road trip requires a second mortgage just to fill the gas tank, many homeowners are discovering an unexpected luxury: the staycation.

A staycation isn’t settling for less—it’s reaping the benefits of one of the biggest investments you can make: your home. Much more than a place to sleep, it’s your personal retreat, your gathering place and, with a little preparation, your very own private resort.

Whether you own a single-family home, a townhouse, or a condo, creating a memorable staycation starts with appreciating what made you fall in love with your property in the first place.

Start with a home refresh. Think about checking into a beautiful vacation rental. It’s spotless, organized, and inviting. You can recreate that same feeling by spending a day preparing your home before your staycation officially begins.

Clear away clutter, deep clean the bathrooms and kitchen, wash the windows, and put fresh linens on every bed – even if you’re not expecting guests. Fluff the pillows, light a favorite candle, and place fresh flowers on the table. These small touches instantly make your home feel more luxurious.

If your budget allows, hiring a professional cleaning service can be one of the best staycation perquisites you make. After all, vacation should begin the moment you wake up and not after you’ve spent the day scrubbing floors.

Treat your staycation like a real trip. Set away messages on your phone and out of office notices on your email. Skip unnecessary chores for a few days. Giving yourself permission to relax may be the most valuable part of the entire experience.

One of the greatest advantages homeowners have over travelers is private outdoor living space. Whether it’s a spacious backyard, a screened porch, a rooftop terrace, or a cozy condo balcony, these areas can become the centerpiece of your staycation.

Stringing lights and adding comfortable seating, colorful planters, and outdoor rugs can completely transform the atmosphere without spending thousands of dollars. Add a portable fire pit, a tabletop fountain, or a hammock, and suddenly your backyard starts competing with many resorts.

Host an evening cookout, organize a game night, invite neighbors over for dessert, or gather around the fire pit for conversation after sunset. These simple moments often become the memories we treasure most.

Inside, transform your family room into a home theater complete with popcorn and comfortable blankets. Turn your breakfast room into a morning coffee café. Designate a quiet reading corner where phones are prohibited. Create a spa-like bathroom with plush towels, candles, bath salts, and relaxing music.

One of the highlights of traveling is experiencing new food. Instead of dining out every night, create themed dinners inspired by your favorite destinations. Prepare homemade Italian pasta one evening, Caribbean grilled seafood another, or a backyard Texas barbecue over the weekend. For a touch of whimsy, dress the part.

Pair each meal with music and libations from the region and enjoy dinner outdoors whenever possible. Suddenly, your dining room becomes part of the vacation experience instead of just another place to eat.

Families with children can turn a staycation into an adventure by seeing their home through a child’s eyes. Set up a backyard camping experience with a tent, flashlights, and s’mores around the fire pit. Transform the living room into an indoor campground complete with sleeping bags and a movie under a blanket “fort.” Organize a backyard Olympics with relay races, water balloon tosses, scavenger hunts, or miniature golf using household items. 

Encourage children to plan a family picnic in the backyard or on the patio, choose a theme for a movie marathon, or help prepare meals inspired by countries they’d like to visit someday. The goal is to create experiences your children will remember long after summer is over.

Enjoy the amenities you already pay for. Condominium communities and many planned neighborhoods offer amenities that residents often overlook.

Swimming pools, fitness centers, tennis and pickleball courts, walking trails, clubhouses, grilling stations, and community gardens are designed to enhance your lifestyle. During your staycation, make a point of exploring everything your community offers. You may discover you’ve been living beside your own private resort all along.

Real estate professionals often talk about resale value, appreciation, and return on investment. While those things certainly matter, there’s another return that’s harder to measure: the enjoyment you get from living in your home every day.

You don’t need a boarding pass to recharge. You don’t need a hotel reservation to make memories. Sometimes the perfect getaway is the one you already own.


Valerie M. Blake is a licensed Associate Broker in D.C., Maryland, and Virginia with RLAH @properties. Call or text her at 202-246-8602, email her at [email protected] or follow her on Facebook at TheRealst8ofAffairs.

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Real Estate

When buying a home, it’s decisions, decisions, decisions

Keeping notes on the process makes for an informed purchase

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If you’re buying a home, take careful notes throughout the process. (Photo by Andy Dean Photography/Bigstock)

When looking to buy a home, there are lots of details to consider. Many of my clients would come to me and say, “Joe I want to buy a place, but I haven’t decided which neighborhood to buy in.” And the struggle was real. A few clients had everything decided from the color of the hallway walls to the cabinet handles and sometimes which three square blocks they wanted to look at. 

But other clients were occasionally looking at properties in areas as distinct as Union Market/NOMA, Brookland, Logan Circle, and then we would even go across the river to look at a property in Shirlington or the Van Dorn areas of Virginia, which all have their own unique flavor and characteristics.

Sometimes clients would tell me, “I only want to look in Mount Pleasant or Adams Morgan.” Or, “don’t even show me any properties west of this street or south of that street.” My job wasn’t to convince people where to live. It was to just take the parameters they set for me and find as good of a property in that zone as I could, coordinate the showings and, if necessary, offer the strategy.  

One can see that buyers often had more decisions to make than a seller. From a seller’s perspective, the house was where it was, and we just had to make the best of it. But working with a buyer could mean looking at five different neighborhoods, and then being a “thought partner” to help them figure out which were the top two or three areas they had seen, and then further distilling those down into what was available and weighing those options against each other. 

One house could have the dream bathroom but also be located six blocks further from a Metro stop, walkable shopping and dining, and “just too far away from my friends.” Another house could have all the neighborhood options a client was looking for, but was just not in turnkey condition, and would require an additional $30,000 of upgrades once purchased to make it into the dream home they envisioned.  

One activity I often asked buyers to do was to keep an active list in their heads of the properties they liked, and to keep a running rank of the top three. I often encouraged them to bring a notebook along on the journey where they could take notes and write down questions they thought of as they looked. It was an important decision, and sometimes the largest purchase of their lives. Why not take it a little seriously, and take notes? This could often help the buyer later when they felt it was time to decide.  

The point here is, keeping a notebook handy can sometimes help a person with what feels like an overwhelming process. It provides a space to explore how one feels, jot down important details to remember, and then use that to make an informed decision.  


Joseph Hudson is a referral agent with RLAH. Reach him at 703-587-0597 or [email protected].

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Real Estate

Under-the-radar Delaware beach towns smart buyers are targeting

There are other options if Rehoboth prices are scaring you off

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If you want to escape the crowds and nightlife scene of Rehoboth Beach, Sussex County offers plenty of options. (Blade file photo by Daniel Truitt)

Look, we love Rehoboth. We will always love Rehoboth. Queer folks have been flocking there since the 1940s, and with scores of LGBTQ-owned businesses and a Pride calendar packed tighter than the boardwalk in July, “Rehomo” earned its crown fair and square.

But let’s be honest with each other: trying to buy property there right now feels a lot like trying to get a reservation at the one good restaurant in town on a Saturday in August. Everyone wants in, inventory is tighter than your swim trunks after Labor Day brunch, and the prices have officially entered “are you kidding me” territory.

So here’s a thought: What if you didn’t fight the crowd? What if, instead, you let Rehoboth keep doing its glorious, chaotic, glitter-bomb thing and you quietly built your beach life 15 minutes away for considerably less drama and considerably more square footage? Here are four towns ready for their close-up.

Lewes: The Charming Overachiever

Lewes is what happens when a beach town actually has its life together. Historic charm, walkability, proximity to Cape Henlopen State Park, less crowding, and a strong year-round community. Unlike towns that turn into ghost towns after Labor Day, Lewes maintains a real community all year long, which is more than we can say for some situationships.

And right now, the market is practically begging you to make a move. It’s one of the most desirable and stable markets in the county — built for buyers thinking long-term, not flippers, and Sussex County overall has flipped into genuine buyer’s market territory for the first time in years. Translation: you finally get to be the one with leverage. 

Bethany Beach: My Personal Pick

Full disclosure: I own in Bethany. So consider this section a little biased — and also the most honest thing I’ll tell you in this whole article.

When I drive down from D.C., I’m not looking for more of D.C. I love this city, but I also love leaving it — and yes, some of the people in it too (you know who you are, and so do I). Bethany gives me that full exhale. It’s quiet in the way that actually means something: fewer crowds, slower mornings, a soundtrack that’s mostly waves instead of nightlife. It leans hard into its “quiet resort” reputation, with low property taxes and a limited geographic footprint, and it is not the least bit sorry about it. 

But quiet doesn’t mean isolated. I’ve got a genuinely excellent food scene nearby, real shopping, and a string of charming neighboring beach towns — and when I do want a taste of Rehoboth’s energy, it’s a short, easy drive away. I get to choose my dose of chaos instead of living inside it.

And here’s the part that matters most for this article: the price. If you’ve looked at Rehoboth listings and quietly closed the tab in despair, I need you to hear this — you can absolutely afford a beach house. It just doesn’t have to be in Rehoboth. Bethany’s average home value sits around $848,592, which is still real money, no question — but it buys you more house, more land, and more peace than the same budget gets you closer to the boardwalk. Bethany is welcoming too, just without Rehoboth’s decades of built-in queer institutional history — and for plenty of us, that trade-off is more than worth it. 

Fenwick Island: Small Town, Big Flex

Fenwick rarely gets mentioned and, frankly, it should be insulted. It’s tiny, it’s quiet, and it has beach access without the carnival energy. The market data tends to lump it in with Bethany, where single-family oceanfront homes clear $1 million while entry-level condos start in the $600s — proof that “under-the-radar” doesn’t mean “bargain bin,” it means “fewer people fighting you for it.” 

South Bethany: For the Boat Gays

Some of us want sand between our toes. Others want a private dock and a boat named something deeply unserious. South Bethany’s canal communities are built for the latter — water access on both sides, fewer crowds, and a lifestyle that says, “I have a captain’s hat and I am not afraid to wear it.”

The Math Works in Your Favor Now

Here’s the part that should really get your attention: Sussex County’s median sold price has dropped to $440,000, down 3.3% year-over-year, and buyers are routinely closing around 88 cents on the dollar compared to asking price. That’s a far cry from the unhinged bidding wars of 2021 and 2022, when overpaying was basically a competitive sport. Inventory across the county sits at nearly 2,500 active listings — the most of any county in Delaware, meaning you actually get to be picky for once. Revolutionary, we know. 

And no, choosing one of these towns doesn’t mean leaving your people behind. Sussex Pride serves the entire county, not just Rehoboth proper, and CAMP Rehoboth’s resources extend well beyond town limits too. You’re not exiling yourself to the suburbs of queerness — you’re just getting a bigger kitchen, a quieter porch, and a much shorter line for the bathroom. 

Add in the fact that Delaware has no estate tax and some of the lowest property taxes around, savings that genuinely add up over a retirement horizon, and the case writes itself. Rehoboth will always be the beating, sequined heart of queer beach culture in Delaware. But if you’ve been telling yourself a beach house isn’t in the cards — I’m here to tell you it absolutely is. It just might be 15 minutes south, with your own quiet porch, your own salt air, and considerably more room to breathe. 

Have a real estate question or Rehoboth market tip? Reach out to [email protected] for LGBTQ-friendly real estate resources in the Rehoboth area.


Justin Noble is a Realtor licensed in D.C., Maryland, and Delaware with Monument Sotheby’s International Realty. Reach him at [email protected] or 302-897-7499.

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