We set up our wills and power of attorney documents with the same lawyer in Ottawa, so I knew where to access the documents, and even where in their house their copies were (our lawyer suggested a hack whereby we keep our legal documents zip-locked in the back of the freezer, where it would be protected from fire/water damage). When the realization set in that I would have to take a much more active role in managing both my parents’ financial and health-related affairs, I realized I would now need to access not just some of their tangible documents but all of it.
My parents were relatively organized in keeping track of their financial documents, meaning they were very good in combining a variety of documents and wrapping them in elastic bands and keeping them stored in a few rooms. Again, this is what I was aware of. As I started going down the rabbit hole, I realized that was not the case as I would randomly stumble upon documents from companies and for services I never knew they were using.
It’s hard enough to keep track of my own and my family’s budget; now I had to manage another set of books. Unless you love accounting and finance like I do, I can confidently say, based on my own investment coaching practice, that this exercise does not make my clients’ top 500 list of things they would prefer to be doing. If you’re up for scavenger hunts, and putting a financial puzzle together, then this could be somewhat more tolerable.
If you feel a sense of dread, by the way, that’s totally normal.
Where to start? Look for relationships
Before embarking on a search for invoices, annual statements, legal documents, and random illegible letters that seem important, it is important that you identify the people, companies, and institutions you will have to interact with who are either gatekeepers of information or references that could lead you to somebody else who can help you. Establishing those relationships will be crucial. The list is endless and will feel overwhelming. The best way to approach this is to break down these gatekeepers into logical circles or networks. These contact points can be broken into some groups involved with money that flows into your parents’ bank and investment accounts and money that goes out to pay living costs.
The first group of people will revolve around your parents’ social and family circle. This group may already be managing some activities or have some awareness of your parents’ activities. These include the parents (of course), your siblings, their own relatives, family friends, and their overall social circle. If you have siblings, it is very possible they may already be involved themselves.
The next group would be the gatekeepers of legal and professional documents. This would comprise accountants who may be preparing tax documents or financial reports for a business, as well as lawyers who would have prepared the will, trusts, and power of attorney documents. As we discussed in the previous article on power of attorney, securing these documents is critical when starting to reach out to various stakeholders. I can’t emphasize enough how many doors I was able unlock quickly and how much time and aggravation this saved me when managing my parents’ affairs.
The group after that would be government institutions at the municipal, provincial, and federal levels related to social programs and benefits that your parents may already be accessing or may need to access in the future. Most of these contact points are now mostly accessible online or over the phone, which will require an immense amount of time and patience as wait times could climb into the hours. These organizations will need to be tapped into for a variety of documents like income tax returns, tax receipts, property tax, building permits, social programs, government identification documents (passport, health card, citizenship card, handicap parking permits, driver’s license), and pension documents. Renewing some of these documents may be a common action item with one or both parents.
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We now reach the group where we get into the financial management circles. This group consists of representatives from your parents’ bank(s), insurance companies, financial advisors, and investment brokers. Some of these contact points you may be able to meet personally. If your parents are receiving a pension or annuity from a private company, then you need to establish contact points there, as well.
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Making sure the bills get paid
Next we need to identify contact points on the expense side of their financial ledger. Below is good starting point of types of costs your parents may be paying on a regular basis:
Home/auto/property insurance
Communication (mobile phone/landline/internet)
Entertainment (cable, streaming services, subscriptions, memberships)
Utilities (electricity, heating, water)
Landlord/property management companies (rent)
Your elderly relatives’ bank is the best place to begin because their bank account and credit card statements will itemize the payments they make regularly. Though some seniors are relatively tech savvy, it is highly likely that your parents will still be opting to receive their bills, invoices, and statements in hard copy. Both my parents were insistent on receiving paper copies. They did make an honest effort to access their accounts online, but at the end, old habits brought them back to paper. Don’t be surprised also to find receipts and statements going back 20 years when we only need to keep receipts for up to seven years. In that case, be prepared to invest in a shredder; just throwing out documents raises the risk of fraud and identity theft.
The final group of people in your parents’ lives would be health-related contacts comprising of their family doctor, dentist and specific specialists (pharmacist, eye care, physiotherapist, and other medical specialists). Besides keeping tabs on their health, be prepared to coordinate a range of appointments and filling prescriptions.
From my personal experience, all these organizations and gatekeepers will likely request some kind documentation to verify your identity and relationship to your parents, ranging from legal documents like the POAs to just a driver’s license or passport. Once you establish your contact points, the most important task is to get your name added to your parents’ respective accounts and files. That way, you start the process of documents and notifications flowing to you.
It’s a never-ending process and if you look at it all as one big mass it will be overwhelming. Just when you think you’ve got everything, something else pops up. I thought I had all my parents’ bank accounts itemized, only to find out that as my father’s dementia progressed that he had walked into a bank and opened three bank accounts that had minimal cash in each of them (how the bank didn’t flag any of this is still beyond me). It feels like you’re running endlessly on a hamster wheel.
I learned that the documents are secondary. The best way to have some control of the whole management process is to engage and build relationships with the various stakeholders that will help you better manage and deal with what you know… and what you don’t know.
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Aman Raina is an Investment Coach at Sage Investors and the founder of Aging Parent Finances. He teaches and guides people how to make more successful investment decisions so that they can achieve financial freedom with confidence.
Deanna Betterman chuckled at the simple notion of her kids spending extended time away from a wrestling mat.
“What’s the offseason schedule like?” the Sand Creek High wrestling coach was asked Friday morning, as the mats at Ball Arena began to bustle again.
“There is no offseason,” Betterman said.
This weekend, three wrestlers from Sand Creek High, a public school in Colorado Springs, advanced to or beyond the girls’ 4A semifinals of the Colorado state wrestling championships at Ball. All three wrestle for a girls’ program in its very first season of existence. All three, improbably, are freshmen: Peggy Dean (100 pounds), Stella Isensee (105 pounds), and Karris Carter (130 pounds). All three came by way of the Betterman Elite Wrestling Club, a youth academy in Colorado Springs run by Betterman’s husband Joe, a former Team USA wrestler.
Sand Creek wrestlers only actually attend classes in person on Monday and Wednesday during the school year, Betterman said. On Tuesday, Thursday and Friday, they arrive at the Betterman Elite gym at 8 a.m., practice from 9-11, shower, eat lunch, do online classes, and then have a second training session at 4:30 p.m. They take roughly one month off from this schedule in August. Last spring, the academy sent Dean and others — then in eighth grade — to Tallin, Estonia, for the largest wrestling tournament in Europe.
Dean won a gold medal.
“When we’re looking at the big goals, we’re looking at the Olympics for Peggy Dean, Karris Carter, all those girls,” Betterman said. “So these are just little stepping stones we’re hitting. We don’t put a lot of pressure on winning state titles and these little things.
“Those little things just happen, when you have those high expectations, and those high goals.”
Peggy Dean of Sand Creek works a takedown on Lilly Lundy of Lewis-Palmer during their Colorado State Wrestling Championships semifinal match at Ball Arena in Denver, Colorado on Friday, Feb. 20, 2026. Dean won by way of a 15-0 technical fall. (Photo by AAron Ontiveroz/The Denver Post)
Youth movement
Sand Creek’s triumvirate of prodigies is just a microcosm, truly, of a wide array of younger contenders at the 2026 state wrestling championships this weekend. Eleven different freshmen wrestlers advanced to the semifinals at Ball Arena in the 5A boys’ and girls’ brackets alone.
It’s indicative of a larger trend in Colorado and beyond. To be a powerhouse wrestling program, schools “have to have a feeder program,” as Betterman said — a youth club in the area that can pipe in young talent ready to reach a state stage from Day 1.
“Back in my day, it was the local tournaments,” said 37-year-old Pueblo East head coach Tyler Lundquist. “Now the guys are in bigger buildings than this from 5 years old, until they’re in high school. So the show’s not too big for them, most of these guys.”
Take Air Academy freshman Dylan Saba, a young man whose father wrestled and whose mother, Hillary Wolf Saba, was a two-time Olympian and whose brother Michael is committed to NC State for wrestling. Earlier this season, as Air Academy coach Brandon Lucero recounted, Saba was matched up with reigning 4A 106-pound state champion Tristan Pino, of the Sand Creek High boys’ team.
“This is a normal match for me,” Saba told Lucero, as Lucero recalled. “This is normal.”
Saba, Lucero said, pinned Pino in the second period of the match.
“I take every guy the same. Doesn’t matter … I just trust myself, and I know I’m good enough to beat, I think, anyone in the country,” Saba said Friday.
Dylan Saba of Air Academy (right) celebrates as time expires against Tristan Pino of Sand Creek during their Colorado State Wrestling Championships semifinal match at Ball Arena in Denver, Colorado on Friday, Feb. 20, 2026. Saba won by way of an 8-2 decision. (Photo by AAron Ontiveroz/The Denver Post)
This extended to state, where Saba has been cutting down from 126 pounds to 120 pounds in preparation since January. This was not a strategy to avoid a more difficult matchup; instead, Saba and Lucero were running directly towards two-time state champion Drake VomBaur of Severance. The goal? Try and beat the toughest possible draw to set Saba up to four-peat at state championships throughout his high school career, a feat only accomplished by 34 wrestlers in Colorado prep history.
“If we get this one, I think he’s going to be pretty tough to stop,” Lucero said. “Which is why we kinda hit the toughest kid (in VomBaur), I could say, could be pound-for-pound in the tournament — to go kinda push that and see if we could do it.”
Saba has a wrestling mat in his basement, and started when he was 4. He is a unicorn at Air Academy, which does not have a traditional feeder youth club. It’s “tough,” as coach Lucero said, to compete with programs in Colorado that do. So from August until November, Lucero drove his wrestlers every day, 45 minutes up I-25 to train at Black Fox Academy, which feeds talent to 5A powerhouse Ponderosa High School.
‘There is no offseason’
It’s become impossible to become a wrestling power in Colorado and beyond, Lucero said, if programs don’t train year-round. Especially if they don’t have a relationship with a youth club.
“It’s making me old fast,” Lucero said. “It’s taken a lot of life out of me, because you’ve gotta turn around really fast, and get kids good quickly.”
At Pueblo East — the favorite in the boys’ 4A bracket — Lundquist holds sessions four days a week in all seasons of the year. They will practice again on Monday, just two days after the state finals. This is a race for advancement, and a race to keep up. And Lundquist has a self-described “blue-chip” talent in freshman Uriah Duran, whose father runs one of the “bigger youth clubs in Pueblo,” Lundquist said.
Duran advanced to the boys’ 4A 113-pound finals after beating Severance sophomore Tatum Garcia 10-0 by major decision Saturday. The freshman is an instinctual wrestler, Lundquist said, who doesn’t need much coaching beyond managing clock and cautions.
“It’s very rare that you see a guy — let’s say, 132 pounds and up as a freshman — having high success,” Lundquist said. “But these smaller-weight guys, right, I mean, their athleticism and their savvy, it just seems to get better and better and better and better.”
Donovan Symalla of Pomona looks as the clock as he makes a move for a late takedown against Jonathan Montes Gonzales of Grandview during their Colorado State Wrestling Championships semifinal match at Ball Arena in Denver, Colorado on Friday, Feb. 20, 2026. Symalla won by way of a 4-1 decision. (Photo by AAron Ontiveroz/The Denver Post)
Freshman success in heavier-weight classes became less rare this weekend in Colorado, though, as Pomona’s Donovan Symalla toppled Grandview senior Jonathan Montes Gonzalez 4-1 to advance to the final of the boys’ 5A 157-pound class. Symalla began wrestling at the Pomona Wrestling Club, a direct feeder for Pomona’s program, when he was 8. He’s “worn a Pomona singlet forever,” as head coach Sam Federico said.
“I don’t know if he’s going to win this tournament,” Federico said earlier Friday, of Symalla. “He’s got some seniors that are in the semifinal that are really good … I mean, at this point, they’re good, and they’re men.
“And Donovan doesn’t drive a car yet, you know what I mean?”
He did not need a license, however, to beat Gonzalez on Friday night. And Federico anticipates freshmen in Colorado are only going to get “tougher and tougher” as years pass and youth feeders grow, a sentiment shared by a host of coaches in the area.
“The level of wrestling, it doesn’t stop,” Betterman said. “It keeps elevating every year, because of programs like this.”
Air Academy freshman Saba wants to four-peat. Lundquist thinks Pueblo East freshman Duran can four-peat. Sand Creek High athletic director Mario Romero thinks the girls’ program can challenge for a state title in two years, once they import more talent from Betterman Elite.
The only thing that might be standing in the way of this youth movement, ultimately, is the youth underneath them.
“I can definitely sense it,” Dean said, after advancing to the girls’ 4A 100-pound final Friday.
“I obviously want the younger people to become better than me, and the people younger than them to become better than them. The competition, and the levels, are definitely rising.”
When my family and I moved to Canada seven years ago, we spent months driving through neighbourhoods trying to decide where we wanted to build our life. Every time I got excited about a quiet street, a peaceful cluster of homes, or a beautifully maintained community, my wife would gently remind me that I was admiring retirement communities. It happened so often that I began to joke that my ideal home would be across the street from one. As it turns out, that is exactly where we landed. We became friends with our elderly neighbors, admired the calm rhythm of their days, and began to understand something that had not been obvious to me before: retirement here was not an abstract concept, but rather something people had spent decades deliberately preparing for.
Where I come from—I grew up in multiple countries, including India and in the Middle East—retirement exists, but it is not the organizing principle of financial life. The emphasis is on stability, on supporting family, on building something durable enough that life can evolve naturally rather than stop abruptly. You save because it is prudent. You invest because it creates opportunity. But you do not necessarily orient every financial decision around a distant, fixed endpoint called retirement.
Canada is different. Here, retirement planning is not a suggestion. It is an expectation, reinforced through employer matching programs, tax-advantaged accounts like RRSPs and TFSAs, and public pension systems designed to provide stability later in life. These are powerful tools, but they assume something critical: that you understand why they matter.
If you grow up inside this system, the logic feels intuitive. If you arrive later in life, it requires emotional and cultural adjustment. You are not just learning how to save. You are learning to think differently about time itself, to make decisions today that serve a version of yourself decades into the future.
Retirement and re-tirement: drawing parallels
This reality became unexpectedly clear to me recently while digging my wife’s car out after a heavy snowfall. As I cleared the snow, I noticed her tires were visibly worn—not dangerously so, but clearly nearing the end of their useful life. I called the dealership to ask about replacements. The price they quoted me was staggering. I promised to call them back, hoping I could find something cheaper, but the truth was unavoidable. I had not explicitly planned for this expense, even though tire replacement is as predictable as the seasons themselves.
I had failed to plan for the re-tirement!
The metaphor is obvious, but the lesson lies deeper than wordplay. Retirement itself is not a surprise expense. It is the financial equivalent of tire wear. It happens slowly, invisibly, over time, until the moment preparation stops being theoretical and becomes essential.
Canada deserves enormous credit for building systems that allow people to prepare constructively for that moment. RRSPs provide tax deferral, TFSAs offer tax-free growth. Employer matching accelerates savings. These mechanisms, when used consistently, create pathways to financial independence that are both powerful and accessible.
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But accessibility and understanding are not the same thing.
Compare the best RRSP rates in Canada
Why you need to engage with the retirement system
The Financial Consumer Agency of Canada exists to promote financial literacy and empower Canadians to make informed financial decisions. Its National Financial Literacy Strategy speaks eloquently about accessibility, inclusion, and effectiveness. The language is thoughtful. The intentions are admirable. The documents are comprehensive.
And that is all fine and dandy, but lived experience tells a more complicated story.
Information exists. Action does not always follow.
Knowledge without context or insight rarely changes behaviour. You can publish strategies, frameworks, and national literacy plans, but information alone does not create urgency. I knew tires eventually needed replacing, but until I experienced the cost myself, it never became something I actively planned for. Retirement works the same way. Being told to save is easy. Understanding what is truly at stake, and how it affects your independence and peace of mind, is what actually drives action. Without that insight, financial literacy remains theoretical.
For many Canadians, particularly those who arrive from different financial cultures, retirement planning remains something they are told to do, not something they intuitively understand.
This is not a critique of the tools themselves; Canada’s retirement infrastructure is among the strongest in the world. It is a critique of how responsibility for navigating that infrastructure is quietly placed on individuals who may not fully understand its importance until much later.
The reality is that retirement planning does not require perfection, it requires participation.
Nancy Hunt arrived at an emergency room from a Genesis HealthCare nursing home in Pennsylvania in such dreadful shape, including maggots infesting her gangrened foot, that the hospital called an elder abuse hotline and then the police, her son alleged in a lawsuit.
Hunt died five days later. Her death certificate said the foot injury was a “significant” factor. Genesis denied wrongdoing but agreed to pay $3.5 million in a settlement Hunt’s son signed in August 2024.
Yet Genesis hasn’t paid most of that debt, court records show. It may never have to.
Once the nation’s largest nursing home chain, Genesis says it was spending $8 million a month defending and settling lawsuits over resident injuries and deaths in recent years. But the company is now poised to wipe the liability slate clean by seeking refuge in the most protective corner of the legal system for the nursing home industry: bankruptcy court.
The Genesis case, one of 11 large senior care bankruptcies this year, illustrates how health care companies can dodge public and financial accountability for alleged negligence through delays, confidentiality clauses, and bankruptcy maneuvers, a KFF Health News investigation found.
When it filed for bankruptcy in Dallas in July, Genesis estimated its total liability for nearly a thousand settled and pending lawsuits at $259 million. A KFF Health News review of the terms of 155 settlement agreements and corporate financial statements shows Genesis officials knew insolvency was possible yet included provisions in its settlement agreements allowing it to defer payment, often for a year or more.
As a result, Genesis paid nothing in 85 cases and only a portion in the other 70, according to civil court records and bankruptcy claims made available through people with access to them. It still owes $41 million of the $58 million it had agreed to pay in those cases, the records show.
“It just feels like they killed my mom and got away with it,” said Vanessa Betancourt, whose mother, Nellie Betancourt, a retired nurse, fractured her hip at a Genesis home in Albuquerque, New Mexico — an injury the medical examiner’s report said led to her death. Genesis agreed to a $650,000 settlement with Betancourt’s family in April under the condition it would not need to pay the first of seven installments for another year, according to the settlement document.
Gabe Betancourt holds an old photograph of his wife, Nellie, that he keeps in his wallet. (Adria Malcolm/KFF Health News/TNS)
Genesis HealthCare reached a $650,000 settlement with Nellie Betancourt’ s widower, Gabe Betancourt, and their daughter, Vanessa, in April after medical examiners said an injury Nellie sustained at a Genesis home in New Mexico led to her death. (Adria Malcolm/KFF Health News/TNS)
Genesis HealthCare reached a $650,000 settlement with Nellie Betancourt’s widower, Gabe Betancourt, and their daughter, Vanessa, in April after medical examiners said an injury Nellie sustained at a Genesis home in New Mexico led to her death. (Adria Malcolm/KFF Health News/TNS)
Nellie Betancourt, shown in a photo with her husband, Gabe, had planned a trip to Las Vegas before she fractured her hip at a Genesis HealthCare rehabilitation center— an injury the medical examiner’s report said led to her death.“ When she went into that place, I said,’ Well, she’ s going to be taken care of for a few more days and I’ ll take her home,’ “Gabe says. (Adria Malcolm/KFF Health News/TNS)
“It’ s almost two years now, ” Gabe Betancourt says of the death of his wife, Nellie.“ When you sleep with somebody for 67 years and you stretch your arm, she’s there. (Adria Malcolm/KFF Health News/TNS)
Nellie Betancourt, shown in a photo with her husband, Gabe, had planned a trip to Las Vegas before she fractured her hip at a Genesis HealthCare rehabilitation center— an injury the medical examiner’ s report said led to her death.“ When she went into that place, I said,‘ Well, she’ s going to be taken care of for a few more days and I’ll take her home,’ “Gabe says. (Adria Malcolm/KFF Health News/TNS)
Photographs of Nellie Betancourt and her family are displayed at Gabe Betancourt’s home in Albuquerque, New Mexico. (Adria Malcolm/KFF Health News/TNS)
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Gabe Betancourt holds an old photograph of his wife, Nellie, that he keeps in his wallet. (Adria Malcolm/KFF Health News/TNS)
Genesis denied wrongdoing in all lawsuits and settlements. In a written statement, the company did not answer questions about individual personal injury cases. The statement said Genesis remained “focused on delivering high-quality, compassionate care to our patients and residents without disruption” during bankruptcy.
One lawsuit Genesis settled for nearly $1 million alleged nursing home managers ignored repeated warnings about a male resident’s behavior before he sexually assaulted a female Alzheimer’s patient, according to court records. In a case the company resolved for $500,000, a Genesis nursing home was accused of delaying the hospitalization of a resident who had vomited brown mucus. He died of a bowel obstruction. Genesis has paid nothing for either settlement, according to bankruptcy claims.
Creditors, including families of the deceased, are expected to salvage a fraction of what they were promised, if anything. On Dec. 10, the company’s owners were scheduled to seek approval by the U.S. Bankruptcy Court for the Northern District of Texas to sell its nursing homes and other assets to its largest investor, a private equity firm. In court papers, lawyers for residents and other creditors say the complex plan will prevent them from pursuing Genesis’ new ownership and other companies they blame for the company’s collapse.
John Anthony, a bankruptcy attorney representing 340 personal injury claims against Genesis, said, “They never had any intention to honor these deals.”
Low Ratings and Fines
During years of financial turmoil, Genesis has frequently struggled to provide top-notch care, federal records show. Using its five-star system, the Centers for Medicare & Medicaid Services rated 58% of homes affiliated with Genesis as below average or much below average. CMS has fined Genesis homes $10 million for violating federal health standards over the past three years.
In its Chapter 11 filing, Genesis said it cared for about 15,000 residents in 165 nursing homes and 10 assisted living facilities in 18 states. They are centered in Pennsylvania, West Virginia, New Mexico, New Hampshire, New Jersey, Maine, Alabama, Maryland, and North Carolina, according to the bankruptcy filing.
The company said it owed $709 million in secured debt to lenders and the IRS. Under bankruptcy rules, those debts, backed by Genesis collateral, take precedence over the $1.6 billion in unsecured debt Genesis said it owes. Unsecured creditors include a pension fund; contractors that provided health services and equipment; Pennsylvania, New Mexico, and West Virginia for unpaid provider taxes; and former residents and their families who sued.
Dangers in Memory Care
Sandia Ridge Center, a Genesis home in Albuquerque, was repeatedly faulted by health regulators for not preventing sexual misbehavior in its memory care unit. In November 2021, CMS cited the home for lacking enough nurses to prevent sexual abuse among residents. An inspection report the following August identified more inappropriate sexual contact. Police were called to investigate sexual assault allegations in February and March of 2023, police reports show; neither resulted in criminal charges.
Then in April 2023, a 61-year-old male resident with alcohol-related dementia sexually assaulted a female resident with Alzheimer’s in the dining room, according to a police report and an inspection report. When the resident screamed for him to stop and that he was hurting her, he responded “shut up bitch I know you like this,” according to a lawsuit brought on behalf of the woman, identified in court papers as R.S.
Sandia Ridge management had been aware of the male resident’s behavioral issues for months, according to employee depositions in the case. Police had investigated a prior sexual assault allegation against him the previous year without bringing charges. In one deposition, a former activities assistant testified he hit her and twice pushed her into a bathroom while announcing, “I want to have sex with you.” When she reported him to a senior Genesis manager, she said in the deposition, the manager put his finger over his lips and said, “Shhh.”
The activities worker testified that R.S. used to happily sing along with Elvis Presley songs. After the assault, the worker said, R.S. “don’t sing anymore.”
Inspectors cited the home for failing to protect R.S. The same report said the home didn’t provide a therapist for another female resident who was being sexually harassed. Medicare fined Sandia Ridge Center $91,247. Genesis denied liability but settled R.S.’ lawsuit for $925,000 in May, according to the bankruptcy claim.
“We just felt we have to hold them accountable,” R.S.’ daughter said in an interview, speaking on the condition that she and her mother not be identified, because of the nature of the assault. “Maybe I’m wrong, maybe I’m naive, but the only way to do that is to sue someone, right?”
Genesis has not paid any of the settlement, according to the family’s claim filing.
Growth and Debt
Genesis’ downfall can be traced to 2007, when affiliates of two private equity firms acquired the company in a $1.5 billion leveraged buyout, taking on substantial debt, according to its bankruptcy filing. Private equity also has been involved in other health care bankruptcies, including those of the HCR ManorCare nursing home chain, the prison health care contractor Corizon Health, and two for-profit hospital systems, Steward Health Care and Prospect Medical Holdings.
In 2011, Genesis raised $2.4 billion by transferring substantially all its nursing home buildings and other real estate to Welltower, a publicly traded real estate investment trust, according to Genesis’ bankruptcy filing. Genesis then rented the buildings back from Welltower, which made leasing costs a significant expense.
Genesis went on a nationwide buying spree. At its peak in 2016, it had grown to more than 500 nursing homes. In a court declaration, Louis Robichaux IV, a consultant overseeing Genesis’ bankruptcy restructuring, wrote that as the company expanded, it became harder to manage and “mired in corporate inefficiencies.” Robichaux wrote that Genesis’ financial woes were exacerbated by rapidly increasing labor costs and lawsuits, including some predating the covid pandemic.
But Genesis continued to teeter on the edge of insolvency. In audited financial statements for 2022 and 2023 submitted to a California oversight agency, management and auditors said rent and debt obligations raised “substantial doubt about the company’s ability to continue as a going concern.”
In a court filing, a committee appointed by the U.S. Trustee’s Office to represent the unsecured creditors in the bankruptcy accused Landau and Welltower of orchestrating a covert plan that allowed Welltower to keep getting its rents while Landau could run the company and “siphon value to himself.” The committee alleged their efforts forced the company into insolvency while “staffing levels and patient care declined precipitously.” Landau and Welltower did not respond to requests for comment.
Staff at a Genesis HealthCare nursing home delayed hospitalizing James Sanderson, seen here with daughter Erin Pearson, for a week after he showed symptoms of a bowel obstruction, according to a lawsuit. (Courtesy Erin S. Pearson/KFF Health News/TNS)
Drawn-Out Lawsuits
Erin Pearson sued Genesis over the death of her father, James Sanderson, a retired mining company executive who died in 2018 after spending less than a month at Bear Canyon Rehabilitation Center in Albuquerque. In the memory care unit, Sanderson fell repeatedly, suffered medication errors made by nursing home staff, and developed a bowel obstruction and sepsis, according to the lawsuit, filed in 2019. Pearson’s lawyers said he was not hospitalized until eight days after nurses noticed he was vomiting brown mucus.
After the judge rejected Genesis’ request to force Pearson into arbitration, Genesis appealed. It took 2½ years before an appeals court affirmed the original decision to let the case go forward in court, records show.
This past May, more than five years after suing, Pearson reached a $500,000 settlement, with the first payment required by November, according to a copy of the agreement. Nothing was paid, according to the bankruptcy claim.
“It was so drawn out and for so long,” Pearson said in an interview, calling Genesis’ bankruptcy “despicable.”
Genesis HealthCare settlements included periodic payment plans, like this one from a $600,000 settlement in February 2025, included in a court record, that allowed the company to delay paying for a year or more. (Jordan Rau/KFF Health News/TNS)
Payouts Postponed
Jennifer Foote, an Albuquerque attorney who represents clients in multiple lawsuits against Genesis, including Pearson’s, said the company frequently filed appeals. “They did not usually win them on these issues,” she said, “and our sense was that they were doing it as a delay tactic.”
Genesis started using installment payments around 2018, said Dusti Harvey, Foote’s law partner. “The payments wouldn’t start for several months out,” Harvey said. Foote said Genesis’ lawyers often wanted to time the payments to start the month the trial in the case was scheduled to occur.
Families had to wait even when comparatively small amounts of money were involved, settlement agreements show. Genesis’ settlement agreements also included a confidentiality clause prohibiting discussion of the incidents.
Genesis agreed to pay $42,000 in a November 2024 settlement, but the first payment was not due until nine months later. It was not paid, according to the bankruptcy claim.
A $250,000 settlement signed in October 2023 did not start paying out until the following September. When Genesis declared bankruptcy — 21 months after the case was resolved — it still owed $100,000, according to the family’s claim.
Genesis HealthCare still owes $112,500 from a $950,000 settlement over the death of Margarett Johnson after an accident in a Maryland nursing home, according to a bankruptcy claim. (Angela Swann/KFF Health News/TNS)
‘We Never Found Out the Truth’
Settling cases allowed Genesis to avoid the expense and publicity of a trial, at which details of how its nursing homes functioned might have been revealed. In October 2020, Margarett Johnson, a retired school bus driver, fell out of her wheelchair at a Genesis nursing home in Waldorf, Maryland, fracturing her jawbone, nose, and neck, according to a lawsuit brought by her family. Johnson was sent to a trauma center and placed on a ventilator. She died three months later, at age 76, from ventilator-associated pneumonia, the lawsuit said.
“It looked like she was hit by a truck,” Angelina Harley, one of her daughters, said in an interview. “I knew my mom was not going to come home. I knew the Lord was not going to punish her more.”
The company denied negligence and blamed the accident on Johnson’s jacket getting tangled in the wheel of her wheelchair, according to the lawsuit. Harley and her sister Angela Swann were dubious.
“We never found out the truth,” Harley said. “They wanted to settle out of court.”
The company denied liability but agreed to a $950,000 settlement in October 2024. It never paid the final $112,500 installment, according to a letter Johnson’s five children sent to the bankruptcy judge.
“If you settle out of court, you know doggone well you did something wrong,” Harley said.
Maddening Judges
By summer 2025, judges in some civil cases had run out of patience.
Alma Brown, a retired day care manager and accordion teacher living in a Genesis nursing home in Clovis, New Mexico, suffered falls, infections, bedsores, and other neglect that hastened her death in 2023, according to her estate’s lawsuit. In Santa Fe District Court, Judge Kathleen McGarry Ellenwood castigated Genesis after it failed to pay $2 million of the $3 million settlement to Brown’s estate or explain the delay.
Genesis “obviously benefited by not having to go to trial,” McGarry Ellenwood said in one hearing, according to a court transcript. “They assure me that they’re not trying to renege on their contract, but it certainly seems like they haven’t lived up to what the bargain was.”
Genesis declared bankruptcy the day McGarry Ellenwood announced she would impose more than $100,000 in fines, plus $10,000 more each day until the settlement was paid.
In Pennsylvania, Greg Hunt petitioned a judge to punish Genesis after it stopped payments of the $3.5 million settlement after the death of his mother, Nancy, the resident with the gangrenous foot. She had spent eight months in 2019 at Brandywine Hall, a Genesis facility in West Chester that was later sold and renamed.
In a filing with the Common Pleas Court of Montgomery County, Genesis admitted it was in arrears but asked the judge for more time, citing “unforeseen and exigent financial challenges.” Genesis said care for patients at its nursing homes would suffer if it had to pay immediately.
Unswayed, Judge Richard Haaz in June ordered Genesis to pay up, along with punitive interest. But the bankruptcy court stayed that order. Genesis still owes $1.4 million of the $2 million it was supposed to pay, according to Hunt’s claim. (The rest of the $3.5 million settlement is supposed to be paid by an insurer in January 2026.) Ian Norris, Hunt’s lawyer, declined to comment, citing confidentiality provisions in the settlement.
Court records indicate Genesis lawyers never disclosed in either case that it was preparing to declare bankruptcy.
Uptown Rehabilitation Center in Albuquerque, New Mexico, is one of 165 nursing homes Genesis HealthCare owns in the U.S.. (Adria Malcolm/KFF Health News/TNS)
‘Bankruptcy as a Tool’
In the first nine months of 2025, 10 other senior living companies with liabilities over $10 million entered Chapter 11 bankruptcy, according to Gibbins Advisors, a consulting firm.
Hamid Rafatjoo, a bankruptcy lawyer representing nursing homes who is not involved in the Genesis bankruptcy case, said filings may increase as the industry has become costlier to run and class action lawsuits have become a fixture.
“Nursing homes get sued all the time for everything,” Rafatjoo said. “A lot of operators wait too long to use bankruptcy as a tool.”
On Dec. 1, Genesis announced the results of its auction, saying it had elected to sell its assets to a private equity firm controlled by Landau. In a court filing, Anthony, the attorney for the personal injury claimants, alleged the auction was stacked in Landau’s favor despite an “objectively better and higher competing bid” from another private equity investor that would have provided more money to creditors. Genesis said in its statement that Landau’s group had increased its bid during the auction.
Sen. Elizabeth Warren, D-Mass., and two other senators last month asked the U.S. Trustee’s Office to intervene in the case, out of concern that “individuals who already own or control Genesis are trying to sell it to themselves, wiping away legal and other creditor debts in the process.” Lawyers representing those in charge of the auction did not respond to a request for comment.
Families of former Genesis residents said they fear the capacity to purge lawsuits through bankruptcy emboldens nursing home owners who provide deficient care.
“They can file bankruptcy again,” said Gabe Betancourt, whose wife, Nellie, died after her stay at Uptown Rehabilitation Center in Albuquerque. “And we’re the ones that will pay for it, with our memories, our lives.”
Motivation Mindset Labs today announced promising results from its innovative 4-Week Virtual Nordic Walking Challenge, a research-based program created to support individuals living with Parkinson’s disease in improving their walking consistency, mood, and overall motivation. The program combined scenic virtual routes, personalized goal tracking, and daily motivational text messages to simulate memorable adventures.
SOMERSWORTH, N.H., December 2, 2025 (Newswire.com)
– Motivation Mindset Labs today announced promising results from its innovative 4-Week Virtual Nordic Walking Challenge, a research-based program created to support individuals living with Parkinson’s disease in improving their walking consistency, mood, and overall motivation. The program combined scenic virtual routes, personalized goal tracking, and daily motivational text messages to simulate memorable adventures including Mt. Washington, the Grand Canyon, Mount Kilimanjaro, and Italy’s Cinque Terre.
Through the integration of technology, behavioral science, and accessible movement, the challenge offered participants a supportive framework for building consistent walking habits in a fun and engaging format.
Meaningful Improvements in Mood and Motivation
According to the study summary report, participants demonstrated measurable improvements in several key areas:
Improved Mood: Scores on the Geriatric Depression Scale (GDS-15) decreased, indicating fewer depressive symptoms and enhanced emotional well-being.
Increased Motivation: Participants showed increases in intrinsic motivation and identified regulation on the BREQ-2 scale – walking more because they enjoyed it and personally valued its benefits.
Greater Self-Determination: The Relative Autonomy Index (RAI) increased, reflecting a shift toward more self-directed, autonomous motivation rather than walking out of obligation or external pressure.
A Virtual Journey Through Iconic Landscapes
Participants tracked progress along themed routes inspired by:
Mt. Washington – symbolizing strength and perseverance
Grand Canyon Rim-to-Rim – representing endurance through ups and downs
Mount Kilimanjaro – highlighting the rewards of steady progress
Cinque Terre – reflecting joy, color, and the social nature of movement
These virtual landscapes added meaning, excitement, and a sense of achievement to the physical walking goals completed each week.
Looking Ahead
Future editions of the program will feature expanded community engagement, including optional group communication spaces and shared progress boards to help participants stay connected and encouraged throughout their walking journey.
Motivation Mindset Labs designs research-backed behavioral programs that combine motivational science, habit formation, and goal-setting strategies to support healthier, more consistent movement behaviors. The organization partners with wellness and healthcare communities to develop accessible interventions that empower individuals to build sustainable habits and enhance overall well-being.
The former employee of a San Mateo assisted living facility who left a pitcher of toxic cleaning fluid in the kitchen that another employee mistook for juice and served to residents — resulting in the deaths of two 93-year-olds — was sentenced Friday to 40 days in county jail and two years supervised probation.
Alisia Rivera Mendoza, 38, was also ordered to complete 350 hours of community service, including speaking to those working in the care industry to warn them against her mistake, according to the San Mateo County District Attorney’s Office.
In August, Rivera Mendoza pleaded no contest to one felony count of elder abuse in exchange for no time in state prison and a maximum sentence of one year in county jail, prosecutors said. Rivera Mendoza’s sentence can also be reduced to a misdemeanor after one year of complying with probation.
Rivera Mendoza’s sentence was imposed by San Mateo County Superior Court Judge Michael Wendler, who also denied a defense motion that would have immediately reduced the charge to a misdemeanor.
San Mateo County District Attorney Stephen Wagstaffe said Monday that Wendler’s sentence was “thoughtful,” as Rivera Mendoza does not have a prior criminal record and the mistake was not intentional.
“Forty days on its face does sound low, but what Judge Wendler has done is taken what might have been a longer jail sentence and converted that into public service hours — that 350 hours of public service work is what he felt was more appropriate for punishment, because 350 hours is a substantial number of days,” Wagstaffe said. “I am not dissatisfied with the sentence.”
Wagstaffe added that Rivera Mendoza has shown remorse for the incident.
Rivera Mendoza’s defense attorney, Josh Bentley, did not respond to a request for comment Monday.
Rivera Mendoza is also not permitted to work in assisted living or elder care in the future, must pay $370 in fines and fees and will pay restitution in an amount to be determined. She also cannot possess ammunition, weapons or body armor and is subject to search and seizure.
Atria Park of San Mateo was understaffed on the morning of Aug. 28, 2022 when Rivera Mendoza poured cleaning fluid into a pitcher on the kitchen counter with the intention of using it to clean the kitchen, prosecutors said.
When Rivera Mendoza went to serve breakfast to the facility’s residents, she left the pitcher on the counter. Another employee mistook the pitcher of cleaning fluid for juice and poured it into three residents’ glasses, prosecutors said.
The three residents, thinking the liquid poured into their glasses was juice, drank it, prosecutors added.
The three residents – 93-year-old Gertrude Maxwell, 93-year-old Peter Schroder Jr. and Richard Fong – “immediately went into serious distress” after taking just a few sips of the liquid, prosecutors said. Emergency services reported to the scene to provide aid, but Maxwell and Schroeder died due to ingestion of the toxic cleaning fluid.
Both Maxwell and Schroder suffered from extremely painful blisters on their mouths before they died, their families said. Fong survived drinking the fluid, prosecutors added.
Wagstaffe added that the families of the two victims did not have “heavy animus toward” Rivera Mendoza.
“They were more concerned about Atria and the fact that they were understaffed,” Wagstaffe said, adding that there was insufficient evident to prosecute Atria in this case.
Kathryn Stebner, the attorney who represented the Schroder family, said that Rivera Mendoza’s sentence is sad to both her and the Schroder family. The family’s wrongful death lawsuit was settled in early 2025, she added.
“She’s basically a scapegoat in the face of (Atria’s) continuous wrongdoing. To point the finger at her is just not right,” Stebner said. “The real culprits were the corporation, not this poor woman who was overworked, underpaid and the scapegoat of Atria.”
“We took immediate action in response to this incident, including reviewing and reinforcing our training and policies on chemical safety,” the statement said. “As always, we remain focused on the safety, health, and well-being of all our residents.”
Rivera Mendoza is currently out of custody on supervised own recognizance. She will surrender to jail on Feb. 7.
LOS GATOS — A senior living community in Los Gatos that opened its doors earlier this year has been bought for more than $50 million by a big-time real estate investor from Chicago.
Ivy Park at Los Gatos has been bought for $54 million by an affiliate controlled by Harrison Street Real Estate, according to documents filed on Nov. 5 with the Santa Clara County Recorder’s Office.
An alliance of two Bay Area real estate firms, Vacaville-based Chronograph Properties and San Jose-based Swenson, developed the senior community and sold it to the Harrison Street affiliate.
The purchase price was well above the January 2025 assessed value of $38.4 million as calculated by the Santa Clara County Assessor’s Office. A county assessment is just one metric that can be used to provide a snapshot of a property’s value.
Harrison Street Real Estate, which is owned by Harrison Street Asset Management, was founded in 2005 and has been a frequent investor in senior living centers, according to the company’s website.
Over the 20 years since it was founded in 2005, the firm has invested approximately $14.6 billion in senior housing assets that total a combined 43,000 units, the company stated in August in connection with its purchase of a portfolio of senior living communities in the New York City area.
HATBORO, Pennsylvania (WPVI) — This national pickleball organization visited our area to put up some good volleys.
The “U.S. Legends Pickleball League” gathered players from across the country.
All of them were ages 50+ and 60+ to create balanced competitions on the court.
“We have 12 teams today. We have teams all the way…in Boston, all the way down to Florida…The biggest goal for us is we want to make sure everybody enjoys their time when they come out to compete,” said Co-Founder, Michael Cao.
“The goal really is to allow the older players to be able to compete at their age level. I played tennis in high school and college… And then pickleball came along and it allowed anyone 50 and older to be able to compete at this high level,” said Co-Founder, Ron Cortese.
The tournament took place at Dill Dinkers in Hatboro.
CLS CARES initiative mobilizes over 50 volunteers to pack nearly 14,000 meals for seniors in need
HOUSTON, May 19, 2025 (Newswire.com)
– CLS Health, the Houston area’s leading physician-owned healthcare group, proudly partnered with the Houston Food Bank for a meaningful day of service on Saturday, April 26. More than 50 employee volunteers and their families gathered for the inaugural CLS CARES event – a company-wide initiative designed to strengthen community ties and give back beyond the clinic.
In just three hours, CLS Health volunteers packed 12 pallets of food, totaling 540 boxes and providing 13,950 meals to seniors experiencing food insecurity across the Greater Houston area.
“We were honored to be a small part of the extraordinary work the Houston Food Bank does every day,” said Dr. Mohammed J. Baba, president of CLS Health. “”Healthcare is about compassion and connection and our day of service at the Houston Food Bank is a meaningful opportunity for us to give back to a community we care deeply about.
The event comes at a time when food insecurity remains a pressing issue in Texas. A 2024 poll by No Kid Hungry Texas found that 44% of Texans reported at least one sign of food insecurity in the past year. This included not having enough to eat, eating poor-quality meals, or cutting back due to rising costs.
“Being part of CLS CARES reminds me why I became a physician in the first place – to care deeply, both in and out of the clinic,” said Dr. Naureen Alim, CLS Health physician and event participant.
Volunteers spent the afternoon sorting, packing, and preparing food for distribution to seniors throughout the region-a hands-on way to make an immediate and lasting impact.
CLS CARES is a new community engagement initiative that reflects the organization’s broader mission: to serve with compassion, build lasting relationships, and improve lives both inside and outside healthcare settings.
“This is just the beginning,” added Dr. Baba. “Stay tuned for more community moments from CLS CARES as we continue to invest in the well-being of the neighborhoods we serve.”
The event was held at the Houston Food Bank’s headquarters, located at 535 Portwall Street.
To learn more about CLS Health’s physicians and services, visit cls.health.
About CLS Health CLS Health is a physician-owned healthcare group with a pioneering approach to comprehensive care. With over 40 locations and more than 200 providers across the Greater Houston area, CLS Health emphasizes the satisfaction and empowerment of its physicians as a key element in delivering exceptional patient care. Learn more at cls.health.
About Houston Food Bank Serving Houston and southeast Texas since 1982, Houston Food Bank’s mission is to provide food for better lives. We provide access to 140 million nutritious meals in 18 counties through our 1,600 community partners of food pantries, soup kitchens, social service providers and schools. Filling gaps on plates, we have a strong focus on healthy foods and fresh produce. In collaboration with our community, we advocate for policy change and racial equity, and promote dialogue on ways to increase access to food and to improve the lives of those in our communities, including services and connections to programs that address the root causes of hunger and are aimed at helping families achieve long-term stability: nutrition education, health management and help with securing state-funded assistance. We are a resource for individuals and families in times of hardship. Houston Food Bank works alongside our partner food banks in Montgomery County, Galveston County and Brazos Valley. Houston Food Bank is a certified member of Feeding America, the nation’s food bank network, with a four-star rating from Charity Navigator for the 13th consecutive year.
Website houstonfoodbank.org; Social media: @houstonfoodbank (Instagram and X), @thehoustonfoodbank (Facebook)
The use of medical cannabis products by qualified patients ages 50 and older is associated with a reduced need for prescription medications and significant health-related quality of life improvements, according to data published in the scientific journal Cannabis.
Canadian investigators assessed medical cannabis use patterns and its effect on health outcomes in a cohort of 200+ older patients (average age: 67). Study participants primarily suffered from chronic pain-related conditions. Patients’ health data was collected at baseline and again at three months and at six months. Most patients in the study consumed orally administered cannabis products containing significant percentages of CBD.
Researchers reported, “Most patients experienced clinically significant improvements in pain, sleep, and quality of life and reductions in co-medication,” including pain medications, antidepressants, and sleep aids. No serious adverse events were reported.
“To the best of our knowledge, the present report describes one of the largest longitudinal study of authorized older medical cannabis patients to date,” the study’s authors concluded. “The results of this multi-site, prospective, longitudinal study of medical cannabis patients ages 50 years and older indicate that cannabis may be a relatively safe and effective treatment for chronic pain, sleep disturbances, and other conditions associated with aging, leading to subsequent reductions in prescription drug use and healthcare costs, as well as significant improvements in quality of life.”
The findings are consistent with those of several other studies similarly reporting quality of life improvements and reduced prescription drug use among older cannabis consumers.
Commenting on the latest study, NORML’s Deputy Director Paul Armentano said: “There is a growing body of evidence showing that cannabis can provide health-related quality of life improvements in older adults. Many older adults struggle with pain, anxiety, restless sleep, and other conditions for which cannabis products often mitigate. Many older adults are also well aware of the litany of serious adverse side-effects associated with available prescription drugs, like opioids or sleep aids, and they recognize the role medical cannabis can play as a potentially safer alternative.”
The full text of the study, “Medical cannabis for patients over age 50: A multi-site, prospective study of patterns of use and health outcomes,” is available from The Research Society on Marijuana. Additional information is available from the NORML Fact Sheet, ‘Marijuana Use by Older Adult Populations.’
Hunter Boyce | (TNS) The Atlanta Journal-Constitution
A new study, published in the Cannabis and Cannabinoids Research journal, found more older Americans are using cannabis today than before the pandemic. According to researchers with the University of Michigan’s Institute for Healthcare Policy and Innovation, roughly 1 in 8 Americans over 50 currently use the substance.
“As the stress of the pandemic and the increased legalization of cannabis by states converged, our findings suggest cannabis use increased among older adults nationally,” addiction psychologist and study lead Anne Fernandez told the University of Michigan.
Wearing an oversized bucket hat, silver chains and a black Miu Miu shirt, 82-year-old Park Jeom-sun gesticulates, her voice rising and falling with staccato lines about growing chili peppers, cucumbers and eggplants.
Park, nicknamed Suni, was flanked by seven longtime friends who repeated her moves and her lines. Together, they’re Suni and the Seven Princesses, South Korea ‘s latest octogenarian sensation. With an average age of 85, they’re probably the oldest rap group in the country.
Born at a time when women were often marginalized in education, Park and her friends were among a group of older adults learning how to read and write the Korean alphabet, hangeul, at a community center in their farming village in South Korea’s rural southeast.
Kang Hye-eun makes corrections to some Korean words written by her grandmother Park Jeom-sun, 82, leader of Sunni and the Seven Princesses, at a senior community center in Chilgok, South Korea, Thursday, Oct. 3, 2024. (AP Photo/Lee Jin-man)
They were having so much fun that they started dabbling with poetry. They began writing and performing rap in summer last year.
Suni and the Seven Princesses enjoy nationwide fame, appearing in commercials and going viral on social media. South Korean Prime Minister Han Duck-soo sent them a congratulatory message last month on their first anniversary, praising their passion for learning.
At a road near their community center in Chilgok on Thursday, Park and her friends were rehearsing for a performance Friday evening in the capital, Seoul, where they were invited to open an event celebrating hangeul heritage.
“Picking chili peppers at the pepper field, picking cucumbers at the cucumber field, picking eggplants at the eggplant field, picking zucchini at the zucchini field!” the group rapped along with Park. “We’re back home now and it feels so good!”
Members of Suni and the Seven Princesses pose for a photo in Chilgok, South Korea, Thursday, Oct. 3, 2024. (AP Photo/Lee Jin-man)
Leader Park Jeom-sun, 82-year-old, center, and other members of Suni and the Seven Princesses eat lunch before their training at senior community center in Chilgok, South Korea, Thursday, Oct. 3, 2024. (AP Photo/Lee Jin-man)
Members of Suni and the Seven Princesses rest after their lunch at senior community center in Chilgok, South Korea, Thursday, Oct. 3, 2024. (AP Photo/Lee Jin-man)
Members of Suni and the Seven Princesses exercise at senior community center in Chilgok, South Korea, Thursday, Oct. 3, 2024. (AP Photo/Lee Jin-man)
Park said the group usually practices two or three times a week, more if they’re preparing for a show.
On Friday, hundreds of people applauded and cheered, and then the group lined up for a photo with South Korean Culture Minister Yu In Chon.
Park talked about the joy of learning to read, saying she can now “go to the bank, ride the bus and go anywhere” she wants without someone helping her.
“During and after the Korean War, I couldn’t study because of the social atmosphere, but I started learning hangeul in 2016,” Park said, referring to the devastating war between North and South Korea from 1950 to 1953. “Being introduced to rap while learning hangeul has made me feel better, and I thought it would help me stay healthy and avoid dementia.”
Kang Hye-eun, Park’s 29-year-old granddaughter and a local healthcare worker who helps older adults, said she was proud to see her grandmother on television and in viral videos.
“It’s amazing that she got to know hangeul like this and has started to rap,” she said.
Members of Suni and the Seven Princesses rap inside a senior community center in Chilgok, South Korea, Thursday, Oct. 3, 2024. (AP Photo/Lee Jin-man)
82-year-old Park Jeom-sun walks with her granddaughter Kang Hye-eun outside their old house in Chilgok, South Korea, Thursday, Oct. 3, 2024. (AP Photo/Lee Jin-man)
Park Jeom-sun, 82, leader of Suni and the Seven Princesses, prepares for the opening of an event celebrating the heritage of the Korean alphabet, called “Hangeul,” at Gwanghwamun square in Seoul, South Korea, Friday, Oct. 4, 2024. (AP Photo/Lee Jin-man)
Members of Suni and the Seven Princesses rehearse for the opening event celebrating the heritage of the Korean alphabet, called “Hangeul,” at Gwanghwamun square in Seoul, South Korea, Friday, Oct. 4, 2024. (AP Photo/Lee Jin-man)
A member of the audience uses a smartphone to film members of Suni and the Seven Princesses performing during the opening ceremony of the Korean alphabet, “Hangeul Week” at Gwanghwamun square in Seoul, South Korea, Friday, Oct. 4, 2024. (AP Photo/Lee Jin-man)
Members of Suni and the Seven Princesses perform during the opening ceremony of the Korean alphabet, “Hangeul Week” at Gwanghwamun square in Seoul, South Korea, Friday, Oct. 4, 2024. (AP Photo/Lee Jin-man)
Members of Suni and the Seven Princesses stand for a photograph with South Korea’s Minister of Culture, Sports and Tourism Yu In Chon, after performing at the “Hangeul Week” at Gwanghwamun square in Seoul, South Korea, Friday, Oct. 4, 2024. (AP Photo/Lee Jin-man)
Young rappers bow in respect to members of Suni and the Seven Princesses after their performance during the opening ceremony of the Korean alphabet, “Hangeul Week” at Gwanghwamun square in Seoul, South Korea, Friday, Oct. 4, 2024. (AP Photo/Lee Jin-man)
Members of Suni and the Seven Princesses acknowledge applause by the crowd during the opening event celebrating the heritage of the Korean alphabet, called “Hangeul,” in Seoul, South Korea, Friday, Oct. 4, 2024. (AP Photo/Lee Jin-man)
Members of Suni and the Seven Princesses, stand after their performance during the opening ceremony of the Korean alphabet, “Hangeul Week” at Gwanghwamun square in Seoul, South Korea, Friday, Oct. 4, 2024. (AP Photo/Lee Jin-man)
Park Jeom-sun, 82, leader of Suni and the Seven Princesses, adjusts her hat in a mirror during the opening ceremony of the Korean alphabet, “Hangeul Week” at Gwanghwamun square in Seoul, South Korea, Friday, Oct. 4, 2024. (AP Photo/Lee Jin-man)
Members of Suni and the Seven Princesses pose for a photo at Gwanghwamun square in Seoul, South Korea, Friday, Oct. 4, 2024. (AP Photo/Lee Jin-man)
If the RRIF is not set up this way, there will be immediate tax consequences, and the estate wishes of your husband may not play out as intended.
What happens if you’re not named the beneficiary or successor owner of a RRIF
When a partner dies, the full amount of their RRIF will be added to their other income for the year and taxed at the current rate. For example, Shearer, if your husband is in Ontario and has an annual taxable income of $50,000, he would pay about $5,800 in tax, based on his marginal tax rate.
If were to die on December 31 of this year, with $300,000 in his RRIF, his total taxable income will be $350,000. And his estate would pay about $148,000 in tax, again based on his marginal tax rate. An increase of approximately $142,000, almost 50% of the value of his RRIF.
If no beneficiary or successor owner is named within the will nor RRIF documents, the RRIF proceeds will pass through the estate and will be subject to estate administration tax. If there’s a beneficiary who’s not a qualifying survivor, which I will explain later, the RRIF proceeds will pass to them tax-free, and the estate will pay the tax.
To help yourself understand that, think about what would happen if your husband has children from a first marriage. Using the $300,000 RRIF example above, the children would receive its proceeds tax-free, and your husband’s estate, possibly you, must come up with the money to pay the tax. If this is your husband’s second marriage (or yours), or either of you want to divide your assets unequally amongst your beneficiaries, make sure you understand the tax consequences you are putting on the estate and your surviving partner.
How to reduce or eliminate the tax consequences on the death of a RRIF holder
You can reduce or eliminate the tax on income from a RRIF upon your death by leaving it to a qualifying survivor. A qualifying survivor can be a:
Spouse or common-law partner
Financially dependent infirm child or grandchild
Financially dependent child or grandchild
The first one is you, Shearer. So, you’re not going to pay tax on the RRIF, if your husband passes and you succeed him. You become the owner of his RRIF or the money goes into your RRSP or RRIF.
Should you be named a beneficiary or successor owner on a RRIF?
Canadians can name a spouse as either the beneficiary or successor owner of their RRIF. As a beneficiary, Shearer, you have the choice of either paying out the RRIF to your registered retirement savings plan (RRSP) and/or RRIF or taking the cash. If you take the cash or investments in kind, the RRIF value will be included with your husband’s other income for the year, as described above.
There is a spousal attribution rule with spousal RRSPs that applies if you take withdrawals within three years of your spouse contributing. This may result in the withdrawals being taxed back to the contributor.
When you combine an RRSP and a spousal RRSP, whether you like it or not, the new account must be a spousal RRSP. As a result, you would typically transfer an RRSP into the existing spousal RRSP.
There are no tax differences between an RRSP and a spousal RRSP for withdrawals, other than the aforementioned attribution rules.
Even if you separate or divorce, your spousal RRSP cannot be converted to a personal RRSP.
As a result, Steve, your wife could combine her RRSP and her spousal RRSP by converting them both to a spousal RRIF. I would be inclined to do this.
Combining LIRAs with other registered accounts
Locked-in RRSPs have different withdrawal and consolidation rules than regular and spousal RRSPs. The locking-in provisions of your wife’s locked-in retirement account (LIRA) are meant to prevent large withdrawals. These funds would have come from a pension plan she previously belonged to. Pension money is treated differently from personal retirement savings, such that locked-in accounts have maximum withdrawals as well as minimum withdrawals.
In some provinces, an account holder may be able to unlock their locked-in account if the balance is below a certain threshold. This may apply for your wife, Steve, as you mentioned the account is small. Some provinces also allow a one-time unlocking of a portion of the account when you convert a LIRA to a life income fund (LIF), which is essentially a RRIF equivalent for a LIRA.
As a result, Steve, your wife may be able to get some or all of her LIRA account transferred to the same RRIF as her RRSP and spousal RRSP. If not, she will have to settle for having a RRIF and a LIF.
Investors looking to get in on the recent rise in real estate stocks should focus on quality, according to Bank of America. The real estate sector of the S & P 500 has been moving higher over the past month or so and is now up 10% year to date, after being in the red earlier this year. The sector hit a 52-week high last week. Real estate investment trusts are also an income play, often paying out attractive dividends. “Stocks with healthy yields become increasingly attractive in a Fed cutting environment,” Jill Carey Hall, an equity and quant strategist at the bank, wrote in a Sept. 9 note that focused on small-cap and midcap REITs. Her work with small-cap and midcap stocks also suggests that dividend yield is the best factor to hedge cycle risk, she added. .SPLRCR YTD mountain S & P 500 Real Estate Sector The Federal Reserve started its rate-cutting cycle last week, slashing the federal funds rate by 50 basis points. The central bank also indicated another 50 basis points of cuts by the end of the year. In this environment, Bank of America likes health care, residential and retail REITs. Health-care real estate is a play on the aging of America , which will see more people seeking medical services and senior housing, Hall said. Residential REITs continue to see demand given housing affordability issues and a majority of retail REITs have beat and raised guidance, she added. When it comes to choosing specific stocks, analyst Jeffrey Spector, the bank’s head of U.S. REITs, suggests looking at names with quality growth, quality value and — with the anticipation of a soft-landing scenario — quality risk. “Higher quality REITs will offer the best earnings and distribution growth,” he wrote in the same note. Quality REITs have resilient pricing power, multiyear earnings visibility based on secular growth drivers, strong and flexible balance sheets and the highest prospect for global inflows. Here are some of the names that made Spector’s top picks list. Welltower is the only large-cap stock that made the cut. The rest are small-cap and midcap REITs. Welltower owns and develops senior housing, skilled nursing/post-acute care facilities and medical office buildings. Near term, Welltower will benefit the most from accelerating occupancy gains amid the post-Covid recovery, Bank of America believes. “In addition, we believe senior housing rate growth will remain robust in 2024 & beyond. WELL has the highest exposure to senior housing operating assets within our coverage universe and based on our demographic analysis has the best positioned portfolio,” the bank said. “Longer term, demographic trends are favorable as baby boomers continue to age.” Shares of Welltower are up 40% year to date. Mid-America Apartment Communities and American Homes 4 Rent are both residential housing plays. The former is a multifamily REIT that operates in communities across the Sunbelt region, where the bank sees robust job growth and a lower cost of living. The latter owns the second-largest single-family rental REIT portfolio in the U.S., Spector wrote. “We remain positive on AMH’s portfolio, limited new supply of single-family homes, structural demographic tailwinds with aging millennials, accretive consolidation/development opportunities, and a strong management,” he said. Mid-America Apartment Communities has gained nearly 18% year to date, while American Homes 4 Rent is up close to 7%. Lastly, Federal Realty Investment Trust owns, operates and develops retail-based properties in coastal markets. Spector said this “blue-chip retail REIT” has a diverse portfolio of shopping centers and should produce growth above its peers in the long term. The stock has moved more than 9% higher so far this year.
Nursing home staff and fellow 1199 SEIU union members picket outside Aspire at Rosewood in Orlando amid ongoing union contract talks (Aug. 8, 2024)
Nursing home staff in Orlando organized a picket line outside the long-term care facility Aspire at Rosewood last week, as part of a statewide action organized to raise awareness of what staff call a “care crisis.”
Eleven nursing homes were targeted. All are owned by Aspire Health Group, a for-profit company that recently acquired ownership of the 120-bed Orlando facility.
Aspire at Rosewood, formerly known as Rosewood Health and Rehabilitation, was previously owned by the mega-chain Consulate Health Care, which no longer lists facilities located in the state of Florida (save for one) after suffering years of bad press, filing for bankruptcy and going through a conveniently timed rebranding in 2022.
Staff members’ picketing action was coordinated through their union, the 1199 Service Employees International Union. The picket was organized following unsuccessful talks between the union and Aspire, which owns more than 55 facilities in the state.
Aspire and the union — including nursing home staff on the union’s bargaining committee — are currently in negotiations for a new union contract, covering over 1,000 certified nursing assistants, dietary aides and housekeepers across Florida.
Denise Allegretti, chief negotiator for the union and a former CNA herself, said Aspire’s labor relations team has put up a fight at the bargaining table, particularly on the issue of staffing levels.
“They’re refusing to even talk about staffing,” Allegretti told Orlando Weekly on the picket line, which featured about a dozen staff joined by other union members and community allies in purple union shirts, marching on the sidewalk outside Rosewood in solidarity.
According to Allegretti, “They’re [Aspire] saying they’re going to go with whatever the state says, and that’s unacceptable.” Under a Republican-backed bill signed by Florida Gov. Ron DeSantis in 2022, long-term residents of nursing homes are now only required to receive two hours of CNA care daily, down from 2.5 hours per resident.
Staff at Rosewood say this isn’t enough time to dress, feed, bathe and provide quality care for residents. They’re chronically understaffed and underpaid — many earn just a few dollars above Florida’s minimum wage of $12 an hour — leaving caregivers overstretched, frustrated and burnt out.
“We just want to give them the love that they deserve,” said longtime caregiver Diane McMullen, a CNA of 20-plus years at Rosewood. McMullen shared that she was inspired to become a CNA because of her brother, who also spent time in a nursing home. “That inspired me to become a CNA.”
Speaking of Rosewood’s residents, and the quality of resident care, McMullen stressed the importance of maintaining a workforce that’s also taken care of, and not suffering from the instability of staff turnover.
“We are their family,” McMullen said of Rosewood’s residents, as Florida’s 90-plus degree heat enveloped her and others gathered around her on the sidewalk. “We love them, too.”
Diane McMullen, a CNA at Aspire at Rosewood and union member, pickets alongside her fellow staff and union members (Aug. 8, 2024)
Yet, when staff like herself are overstretched — tasked with taking care of more residents, with less support from their employer — they have less time to actually provide the quality of care they’d reasonably wish to provide for someone they treat as family.
This includes smaller actions like finding a resident’s favorite necklace to wear that mean a lot. “Staff don’t have five minutes to go find their necklace or their lipstick, or even give a bath on some days,” said Allegretti, the union’s negotiator.
Staffing shortages — and low pay for nursing home staff — were some of the primary issues voiced by workers Thursday, who carried signs outside of the Orlando facility demanding “Safe Staffing Now” and “Contract Now.”
“The turnover is ridiculous,” said Allegretti, clad in a purple shirt like the nursing home staff around her. “Back in the day in the ’90s, when I was a CNA, it was like eight to 10 patients on a day shift, maybe 15 on an evening shift, but never more than that,” she recalled. “Nowadays, they’re doing 15 patients on a day shift, 20 or more on a night shift, which is criminal.”
According to federal data compiled by ProPublica, nursing homes owned by Aspire Health Group in Florida have seen a higher-than-average rate of “serious deficiencies,” and higher-than-average staff turnover.
A federal inspection report, published in April, found over a dozen deficiencies in the Rosewood facility’s operations in Orlando, all posing “no harm, but with a potential for more than minor harm,” according to inspectors.
Deficiencies identified ranged from quality of care issues, such as failing to provide trauma-informed or culturally competent care, to pharmacy issues, like medication errors.
“We just want to give them the love that they deserve,” said longtime caregiver Diane McMullen, a CNA of 20-plus years at Rosewood.
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Under different ownership, the facility in 2022 was fined $163,183 over three severe deficiencies identified by inspectors, posing an “immediate jeopardy to resident health or safety,” and two deficiencies posing minimal or no harm.
Some of Aspire’s other facilities in Florida have similarly been cited for deficiencies, including inadequate supervision at Aspire at Saint Lucie on the Treasure Coast and a failure to “[E]nsure that a nursing home area is free from accident hazards,” according to an April report summarizing deficiencies.
Aspire Health Group has faced an average fine of $50,782 in penalties for health citations, according to the ProPublica database. Penalties are issued by the Centers for Medicare and Medicaid Services for serious health citations, or for health citations that have not been fixed.
AsThe New Yorker reported in 2022, federal staffing rules haven’t changed for nursing homes since 1987. In April of this year, the Biden-Harris administration took action to change that, announcing a new rule on minimum staffing standards in nursing homes that will, for the first time, establish minimum staffing requirements in such facilities overseen by the Centers for Medicare and Medicaid Services.
The implementation of this new rule, however, is subject to a “staggered implementation timeframe,” according to CMS. The union in Florida argues that “immediate and contractual obligations for safe staffing” are needed from nursing home operators in Florida now — not later.
“Staffing and retention always has been an issue because it can be a complicated and back-breaking job for very little pay,” said Margarette Nerette, vice president of the union’s Long-Term Care division, in a recent statement.
“Add the pandemic where workers were at ground zero of COVID risk, lowered safe-staffing rules in Florida, and the state’s skyrocketing housing and insurance costs, and we have a perfect storm of pressure,” Nerette continued. “To help relieve this crisis and to better protect patients and their caregivers across the state, we’re fighting for new contracts that respect us, protect us, pay and staff us.”
The workers’ fight for a fair contract — and meaningful action on the issue of staffing — comes in the wake of a financial boost approved for nursing home operators by the Florida legislature and Gov. Ron DeSantis earlier this year. As part of the state’s 2024-25 fiscal year budget, state leaders approved a $247.8 million Medicaid increase for the state’s nursing home operators, in part to help address staffing problems.
“The state budget provides an 8% increase ($247.8 million) in Medicaid funding, amounting to nearly $470,000 per center, per year to support the state’s nursing centers with meeting the growing demand for qualified caregivers and the needs of Florida’s vulnerable seniors and people with disabilities,” the Florida Health Care Association shared in a statement celebrating the extra funding.
The Florida Health Care Association, a state affiliate of the nation’s largest nursing-home lobbying group, represents over 86 percent of Florida’s nursing centers — with Aspire-owned facilities among their federation’s membership.
Aspire Health Group facilities in Florida have, as part of their membership, contributed to the FHCA’s political activities through regular contributions to an associated FHCA PAC. State records show Aspire facilities have contributed over $20,000 to one of their PACs in 2024 alone.
Getting a fair union contract for staff at Aspire-owned nursing homes would give residents “a better home,” said CNA McMullen. “A better home for them, better staffing and better wages for us,” she added.
Registered nurses at HCA Hospitals in Florida have similarly raised alarms about unsafe staffing levels at their facilities, and are also in negotiations for a new union contract.
Nurses at HCA Osceola Hospital, represented by National Nurses United, organized their own picket line on Thursday, calling on their multi billion-dollar, for-profit employer to invest in high quality staff and patient care.
Nursing home staff and fellow union members picket outside Aspire at Rosewood, a nursing home in Orlando (Aug. 8, 2024)
“We’ve been at the bargaining table for months fighting for what we need to take care of our patients,” said Elisabeth Mathieu, a registered nurse in HCA Osceola Hospital’s emergency department, in a statement. “We need HCA to hear us, so we’re holding this informational picket to let the public know what we’re demanding in our contract when it comes to patient care and, especially, safe staffing.”
The most recent NNU contract covering RNs at 10 HCA hospitals in Florida — including HCA Osceola and HCA Lake Monroe in Sanford — was negotiated in 2021. The contract officially expired July 1, after being extended once from its original May 31 expiration date.
The union contract covering nursing home staff at Aspire Health Group facilities, represented by 1199 SEIU Healthcare East, has also expired, according to Allegretti.
Nearly 50 nursing home facilities in Florida represented by 1199 SEIU Healthcare East, covering 4,000 staff total, have union contracts that have expired or will expire at some point this year, according to the union.
While NNU staff have politely declined to comment on what the next steps are for RNs that they represent, if HCA continues to remain resistant at the bargaining table, Allegretti said that if Aspire Health Group fails to budge, the next step for their union is a strike vote.
“If management doesn’t follow us with [bargaining] dates, and come with real proposals, the next step is that we will be out on strike,” Allegretti confirmed.
The last time workers went on strike at the Rosewood facility in Orlando, and 18 other nursing homes in Florida, was 2016. The union described it then as the largest-held strike in the Southeastern United States in nearly two decades.
As North American adults are living longer, can marijuana help them be more productive?
Canadian are extended to live longer (52 more years) than Americans (49.3 more years). But both are an extension of life expectancy, allowing for a longer life and more years to have fun and be productive. While being productive could mean work, it also includes enjoying life, family and passions. Can marijuana help boomers extend productivity? With legalization inching across the country, more 65+ citizens are taking a second look at the plant and starting to use it for chronic pain, intimacy and sleep.
Both the American Medical Association and the American College of Physicians agree cannabis has medical benefits. Not surprising since the majority of older cannabis consumers report using the plant for medicinal reasons rather than for recreational usage. Marijuana can help older people physically and mentally be more productive to enjoy well rounded later years.
Photo by PICNIC_Fotografie via Pixabay
While Boomers still primarily use cannabis for a medical benefits, there are more who are slowly seeing it as an alternative to alcohol, which is more harmful. Medical marijuana’s anti-inflammation and ability to help with pain makes movement easier allowing for a more physical life. A good night’s sleep and helping with anxiety and depression are another to key factors to have a clear mind to make the most of the day ahead.
Millennials make up the most of the full-time workforce with 49.5 million workers followed by Gen X at 42.8 million, Baby Boomers and Gen Z are tied at a little over 17 million. But Boomers are seasoned workers and adding a few years can make a difference in a strong economy. And while many companies are dealing with transitions from changing technology and trends. They can be a key factor in the economy.
A large marjority of Boomers who consume cannabis believe it relieves pain and has medical benefits. Boomers also have a highly favorable opinion if it can help a sick loved one, with 97% supporting its use in such cases. So the generation who continued the drug wars are now seeing value and are using it to make the most of their senior years.
What is interesting, this generation entered adulthood when weed was the thing in the free love era, but we scared away by the Drug Wars. As they drift back to marijuana, they are staying true their roots. Boomers tend to purchase flower or bud and go the traditional routes of consumption by smoking or vaping.
The Canada Pension Plan is a retirement pension that offers replacement income once a person retires from working life. The CPP is a social insurance plan, and it’s one “pillar” of the retirement income system for Canadians—the other three are Old Age Security (OAS), the Guaranteed Income Supplement (GIS) and personal savings. The CPP is funded by contributions from workers, employers and self-employed individuals. It’s not paid for by the government, despite what many Canadians may think.
A federally administered program, the CPP is mandatory, meaning that all Canadian workers and employers must contribute. The plan covers all of Canada except for Quebec, which has the Quebec Pension Plan (QPP) for residents of that province. Below are the remaining 2024 CPP payment dates.
CPP payment dates for 2024
January 29, 2024
February 27, 2024
March 26, 2024
April 26, 2024
May 29, 2024
June 26, 2024
July 29, 2024
August 28, 2024
September 25, 2024
October 29, 2024
November 27, 2024
December 20, 2024
Where does the CPP money come from?
Unlike OAS and the GIS, the CPP is funded by employers and employees, and by self-employed people. These contributions, which show up as deductions on a paycheque, are aggregated and invested. For self-employed people, the CPP owed on your net business income is added to your tax bill. The principal plus any revenue earned goes back into the program.
In January 2024, CPP contributions were raised as part of a seven-year government initiative, started in 2019, to increase retirement income. Read more about the CPP enhancement to see how much more you will pay as an employee or a freelancer.
Who manages the CPP’s investment portfolio?
The pension plan’s investments are managed by CPP Investments, a Crown corporation operating at arm’s length from the government. Every three years, the Office of the Chief Actuary of Canada evaluates the sustainability of the plan; the next review will be in 2025. “The CPP is projected to be financially sustainable for at least the next 75 years,” CPP Investments states on its website.
Am I eligible for CPP?
If you’re at least 60 years old and have made at least one contribution to the CPP, you are eligible to receive CPP payments. You may also be eligible if you’ve received CPP credits from a former partner or spouse who paid into the plan. CPP benefits are available to Canadian citizens, permanent residents, legal residents or landed immigrants.
Should I apply for CPP or QPP?
If you contributed to both the CPP and/or the QPP in Quebec during your working years, your residency at the time of your application determines which plan you’re eligible for—if you’re a Quebec resident, you apply for your pension from the QPP. Otherwise, you apply to the CPP.
When you can start receiving your CPP
You’re eligible to start receiving your pension anytime between the ages of 60 and 70 years old, but the younger you are when you begin receiving CPP, the smaller your monthly payouts will be. Many Canadians choose to begin receiving payouts at age 65.
I try to picture 84-year-old me being told by my kids that it is time to hire a financial planner. I may not be so keen myself when the time comes. Maybe I should bookmark this column.
I took over the management of my mother’s finances toward the end of her life. She seemed reluctant, but she knew it was time. I think she still saw me as her little boy even though thousands of clients and readers looked to me for advice that she was hesitant to take.
Managing your own investments to save on fees
If you expect to pay $35,000 a year on fees to invest in mutual funds, Laasya, I am speculating here, but you probably have somewhere between $1.5 million and $2 million of investments. Mutual fund management expense ratios (MERs) are embedded fees that are paid from the fund’s returns each year. They are about 2% on average but can range from under 0.5% for low-cost, passive index funds to 3% or more for segregated funds from insurance companies.
If you have $1 million or more to invest, there are discretionary portfolio managers who use stocks and bonds or proprietary pooled funds who may charge 1% or less of your portfolio value. (Discretionary means the portfolio manager makes buy and sell decisions on your behalf.)
You could certainly invest in exchange-traded funds (ETFs), and now there are plenty of simple asset-allocation ETFs (also known as all-in-one ETFs) that can be a one-stop shop for investors. Fees are in the 0.25% range.
Why self-directed investing may not be the answer
The problem with buying an ETF, Laasya, is that your kids are concerned about you investing on your own. And if they wanted to be self-directed investors, they probably would have offered to help you manage your investments. They did not. So, if you pull your investments to manage them yourself again, you may be putting your kids in an uncomfortable position, as they may potentially have to become DIY investors at some point if you’re unable to manage your own investments.
Self-directed investing may seem easy to people who are comfortable doing it. But I remain convinced that some people will never be able to manage their own investments, no matter how simple it becomes.
Have you considered a robo-advisor?
I often joke with my wife that I am very good at a short list of things in the financial planning realm, but not much else. There are plenty of things that I could probably learn to do around my house or in other aspects of life that I have no interest in learning. I would rather pay an expert.
NEW YORK (AP) — Walmart has spent three years overhauling its mix of adult apparel to make it stylish as well as sensible for middle America. Now, the nation’s largest retailer is seizing the back-to-school shopping season to take another shot at fashion respectability.
The company plans to relaunch its 30-year-old brand for teenagers and young adults on Tuesday with a new 130-piece fall collection aimed at Generation Z. The retooling of the No Boundaries label is part of a strategy to get customers to think of Walmart as a place to buy cool clothes along with groceries.
The new collection includes of-the-moment styles like baggy jeans, cropped T-shirts, faux leather corsets and bomber jackets. Most items cost $15 or less. Some pieces are made from recycled fabrics to appeal to a generation that values sustainability. The size range was expanded to run from XXS to 5X to be more inclusive.
The Bentonville, Arkansas-based company is marketing the revamped No Boundaries on TikTok, YouTube, Pinterest and the online gaming site Roblox. It plans to test new prototypes in stores located in major college towns.
The intended audience is noticing.
“It’s basic, but cute,” Za’Kryra Davis, 16, said while looking at the camouflage pants and denim rompers at a Walmart store in Secaucus, New Jersey, where the new No Boundaries was getting rolled out last week.
Davis, who shops at chains like Rue21 and Forever 21 and gets inspired by trends popping up on social media, said she’s been more open to buying clothes at Walmart in the past few months because she says they look more modern.
Walmart previously relied on a variety of suppliers with separate design teams to build the No Boundaries line, which focused largely on everyday basics like T-shirts and denim. The company hired a dedicated design team to create the relaunch collection, a sign of the brand’s importance to Walmart’s broader fashion strategy.
Still, winning over customers born between 1997 and 2012 will be challenging given Walmart’s heavy competition. The generation of digital natives is known to be price conscious and willing to shop around, frequenting everything from second-hand shops and ultra-fast-fashion online retailer Shein to discounters like Target, and mall-based stores like American Eagle Outfitters.
Olivia Meyer, 22, who lives in Riverview, Florida, gets inspired by trends on the internet and makes most of her fashion purchases online, typically from Amazon, to ensure quick delivery. She approved of the cargo pants and strappy tops she saw while checking out the fall No Boundaries collection on Walmart’s website.
“I’m not loyal to one place,” Meyer said. But she added, “I think Walmart has a shot at targeting Gen Z and getting our dollars.”
While Gen Z spends the least amount on fashion of any demographic cohort except the so-called Silent Generation, retailers are eager to court young consumers because they represent the future, said Neil Saunders, managing director of research firm GlobalData.
“If you don’t capture them today, you run the risk of them going to a rival,” he said. “Traditionally, Walmart has not been appealing to this kind of younger demographic, which is why it’s trying to change.”
Walmart said No Boundaries generates annual sales of $2 billion, but Saunders thinks the numbers have been stagnant for a few years. He said the retailer needs to overcome the perception that its fashion aspirations end at floral prints, pull-on pants and other styles more typically worn by older adults.
Walmart signaled just how much it wants to get taken seriously as a fashion destination three years ago when it hired Brandon Maxwell, an American designer who has dressed celebrities such as Lady Gaga, as the creative director for its “elevated” fashion brands, Free Assembly and Scoop.
In February, the company hosted social media influencers who focus on trendy but affordable style at a fashion show that featured Maxwell’s designer collection, which is sold at high-end Saks Fifth Avenue and Neiman Marcus.
“It’s always about the women in my life who define what I do, and it’s no different at Walmart,” said Maxwell, who mingled with the Walmart guests during a luncheon after the show.
To boost its legitimacy as a one-stop shop for fashionistas, Walmart has added store mannequins and colorful displays of its clothing. Under the stewardship of Denise Incandela, executive vice president of apparel and private-label brands, the company has featured more than 1,000 brands and partnered with celebrities like Sofia Vergara.
Incandela said at a recent industry conference in New York that Walmart’s scale — it operates more than 4,600 stores in the U.S. — can help drive quality and low prices. But the big growth opportunity in clothing is with the Gen Z customer who “cares about style,” she said.
“We have created a brand that is more modern, has better quality, has silhouettes that are more relevant to the Gen Z customer,” Incandela said. “We’re improving the shopping experience, but we have to change that perception.”
At the Walmart in Secaucus, Elizabeth Fernandez, 58, and her daughter, Destiny Fernandez, 38, said they found the women’s clothing more appealing than in the past. They were also drawn to the overhauled No Boundaries line. Their shopping cart brimmed with pants, shorts, tops and skirts drawn from throughout the store.
Citing the cropped puffer jackets and different denim washes on the racks, Destiny Fernandez judged Walmart to be on the mark in the way it had recycled and refreshed earlier trends.
“It’s all stuff that is coming back,” she said. “So I am going to take a look.”
