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Reader Makes Recommendations to Invigorate the CBD and Cut Costs in Village of Ridgewood


First has to be the school budget. We are spending millions to make sure that the first grader in Hawes studies the same thing as the first grader at Ridge. This is a huge waste of money. Let the schools run themselves with minimal oversight from BOE. By Jr. High they will have learned enough of the same things. BOE also drives lots of absences by teachers for development days and assessment of students. Cut it. Stop paying subs for those days and let the teachers teach. We also may need to look long and hard at what we are paying in insurance and coaches for certain expensive sports like football and swimming. We may not be able to offer the same sports and clubs we once did.

Second, we have way too much empty commercial space. Currently landlords are happy to leave the buildings empty and collect the rent from the failed business while paying lower taxes on the lower valued building. That has to change. We need to find ways to create incentives to encourage landlord to take new tenants. With more and more people working remotely, it would seem like some office space in town might help. (Im not sure how the shared office place is doing??) A program to reinvigorate the office space that exists above retail in town might help. At minimum, reduced construction permits and fast tracked inspections and approvals would help. Same for the empty space on Dayton. If those spaces are filled, the assessments rise and we would collect more in RE taxes.

Finally, there is the huge nut of police and fire budget. These should be shared services. We do not need 35 cops in town plus parking enforcement. Fire Department is great but when you factor in equipment, insurance and pensions its really expensive. Something’s got to give. There has been talk of including pension obligations when we talk about salaries but that has not happened. It has to. Each cop costs us millions in total obligations.

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4 Tips For Making Your Retirement Savings Last Longer


September 24,2016

the staff of the Ridgewood blog
Ridgewood NJ, Many retirees and those nearing retirement express a common fear.

They worry about running out of money; finding their bank account drained with years of life still ahead of them.

“The reality is that a large percentage of Americans simply don’t have the kind of savings they need,”  says Chuck Price, president of Price Financial Group Wealth Management Inc. ( and author of “Investing Simplified: What You Don’t Know Can Hurt You.”

“When that’s the case, there are other strategies they’ll need to consider.”

His suggestions for stretching retirement dollars as much as possible include:

• Work longer. Nothing says you have to stop working at a particular age. You can continue in your career, find a new one or just work part-time. Even temporary employment can help keep the cash flowing so you don’t have to tap into your savings too much.
• Cultivate alternative income streams. You can reduce your reliance on your retirement portfolio by cultivating income streams. “This could be done through a side business or maybe by making investments outside your retirement portfolio that pay dividends,” Price says. “There are a number of ways you might be able to come up with some extra income.”
• Cut costs. Are there expenses you can get rid of if money becomes too tight? Maybe you don’t need to play golf every day or dine out so often. Are you paying for insurance on an extra car that you really don’t need anymore or for a motorcycle you rarely ride? “Retirement is supposed to be fun, I know, but in tough economic times you’ll have to make decisions,” Price says. “If your situation improves, you can add some of those luxuries back later.”
• Reconsider the financial help you give others. Older people often want to help their children and grandchildren financially, but you might need to cut back on your charity. “If your own survival and financial situation is being threatened, you need to pull back a bit,” Price says. “You’re trying to make your money outlive you, so it might be necessary in times of economic turmoil to reduce how much you provide to others.”

On the upside, Price says, it’s worth noting that expenses in retirement might not end up being as much as you think.

“Most people spend less money as they get older because they stop driving, traveling and buying clothes,” Price says. “The main exception is if there’s a need for long-term care, which can be very expensive.

“But most of my clients in retirement, usually after about age 80, aren’t spending anywhere close to what they planned for.”

About Chuck Price

Chuck Price ( is president and wealth manager for Price Financial Group Wealth Management Inc. He also is author of “Investing Simplified: What You Don’t Know Can Hurt You.” Price has more than 40 years of financial experience and hosts a popular radio show, “Investing Simplified,” that airs on Freedom 970 in Portland, Ore.