Financial Wellness: List of Classes

Transcription

1 Financial Wellness: List of Classes List of Classes Classes are 1 hour in length unless noted otherwise below. See following pages for descriptions of each class. Class Levels There are no prerequisites for each class. Classes may be taken in any order. Classes are available as In-person Lectures or Online Webinars. Introductory Classes - Laying the Foundation FW101: Financial Wellness Foundation FW102: Budgets, Debt, Insurance and Long Term Care FW103: Investing and Retirement Planning FW104: Taxes and Estate Planning FW105: Debt Free For Life (webinar only) Condensed Version FW101C: Financial Wellness 101 FW102C: Financial Wellness 102 Retirement, Taxes and Estate Planning Each topic consists of a 100 and 200 level class. FW106 & FW206: Retire with Confidence FW107 & FW207: Taxes: Dancing with Uncle Sam FW108 & FW208: Intro and Advanced Estate Planning Intermediate Classes Topic Specific FW109: Preparing for Life's Transitions ( minutes) FW203: Insurance; What If.. FW204: Maximize Your Investments 100: Introductory & Condensed Classes Introductory classes provide a top-level review of key topics encountered over a financial lifetime. The goal of these classes is to lay a foundation, or universal framework, of basic financial concepts upon which further education may be built. Condensed classes are a shortened version designed to help students determine which topics they would like to learn more about. These classes function as a survey of key financial topics and do not go into depth in any one financial discipline. These are typically used in organizations who prefer a shorter set of introductory classes. 200: Intermediate Classes Intermediate classes are topic-specific and provide more depth within a variety of financial disciplines. The goal of these classes is to build upon the foundation and enable students to gain a deeper understanding within each key area. 1

2 FW101 FW104: Financial Wellness Foundation Available in 2, 3 or 4 sessions based on organizational needs. Complementary Private Counseling Turning education into action! Available in-person or remotely via our online counseling system. What is Financial Wellness? Are you financially healthy? How were your thoughts and behaviors developed regarding personal finances? A person s readiness level plays a role in their ability to establish healthy financial behaviors. Assess your readiness level and behavioral thinking. Then learn how to set SMART financial goals. The elements of budgeting, emergency cash, and debt reduction are key to a solid foundation. Learn how to establish these to fit your goals. Determine what insurance you need and how much. Long Term Care options are defined. An introduction to the basics of investing, investing to a goal, types of investments (stocks, bonds etc.) and indexes are discussed. We then review retirement goals, simplistic estimates of how much you need and have, life phases and types of retirement income. Learn the basic concepts, importance and impacts of strategic tax approaches and proper estate planning. The process of conducting a personal Beneficiary and Registration audit is also included. A private, complimentary counseling session with the instructor is included as a part of each class. This is a great opportunity for students to hone in on the aspects of the class they found most interesting, while also addressing issues they may not feel comfortable airing in a group setting. We encourage students to include their spouse or significant other in the counseling session. Counseling sessions are available in person or remotely via our online counseling systems. No special computer applications are necessary to participate in the online counseling program. Example Financial Wellness Counseling Topics: Setting financial goals Establishing a budget and emergency cash needs Developing a debt elimination plan Protecting your assets with insurance strategies Maximizing your investments Preventing unnecessary tax impacts Planning for retirement and estate planning Preparing for a major transition 2

3 Retire with Confidence Classes What you do today impacts tomorrow! Estate Planning Classes Being educated, not intimidated. Every day is important. Having the power to choose our lifestyle each day is important as well. For some, money may be in short supply. But for all of us, eventually time will be in short supply. If we plan today, we can create a tomorrow full of choices and take control of both our time and money. What does retirement mean to you? Having more choices and living a balanced lifestyle? What if it also included having the time to work toward meaningful endeavors we believe in instead of just working for a living? FW106: Retire with Confidence, Level I It all starts by understanding your retirement goals and identifying retirement monthly income needs. Determine your retirement goals, income needs, sources of income such as Social Security, Medicare, employer retirement plans and your personal investment portfolio. Learn a few potential pitfalls of not being prepared. Are you caring for an aging parent? Are you married or in a relationship? If so, chances are that one day you ll be an Executor of an estate. The vast majority of family members who agree to this role do not understand what it means. And how does one even begin to have the talk with an aging parent? These are difficult and sensitive subjects but are not impossible to learn. Family members, including the aging parent or relative, are encouraged to attend. This can be a positive first step in opening the estate planning dialogue with your family. FW108: Introduction to Estate Planning; Laying the Foundation Learn how to build a plan to protect what is important to you and your family. Class includes the basic legal jargon of estate planning, the key players who participate in the process, estate planning concepts, and keys to a good estate plan. FW206: Retire with Confidence, Level II Learn about key retirement ages, types of income, asset risks, stretch IRA's, impacts of retirement blind spots and how to prevent them. Examples of investment gain timing, taxable versus deferred taxes and utilization of cash value life insurance policies will be discussed. Retirement "gotcha's" such as RMD will also be reviewed. FW208: Advanced Estate Planning; Executor Boot Camp Learn how an estate gets settled and the responsibilities of an executor or personal representative. Understand how to begin the dialogue regarding preparing a loved one's estate and documentation such as the will, health directives, family legacy, and personal instructions. 3

4 Taxes, Dancing with Uncle Sam Being Aware & Being Prepared FW109: Preparing for Life s Transitions Available in one 90 or 120 minute session. We don t know the future of the US tax code or how the government will reduce the national debt. We cannot control tax brackets or the tax rules imposed upon us. However, we can control how we balance our money across multiple tax options. We can learn more about the benefits of proper tax planning and strategies to prevent paying unnecessary taxes. As we approach the future, tax management becomes critical. Healthy portfolio preparation is the best prevention. FW107: Taxes: Dancing with Uncle Sam, Part 1 Past, present and future taxes, lifetime tax stages, W-2 versus 1099 income, tax buckets for tax-free, fully taxable and favorably taxed income, inflation impacts, paying taxes on the seed versus the tree concept. FW207: Taxes: Dancing with Uncle Sam, Part 2 Continues on with additional seed versus the tree examples, a variety of tax advantaged investment types, creative tax-free retirement income sources, Required Minimum Distributions, Stretch IRA's, Estate Taxes and Life Insurance Trusts. Financial issues are complicated enough, never mind the additional difficulty of dealing with a major transition. Do you recall who taught you about investments, insurance options, taxes and long-term health care? And who taught them? English and math are required in school. But some of the most important elements in our lives are not part of a typical school program. This class will help empower you to navigate the decisions that must be made prior, during, and after separation from an employer. Class topics include: Develop survival skills regarding your internal thoughts and external influences. Use SMART goals to create your transition budget, emergency cash reserves, and debt elimination options. Understand financial risks and how to mitigate them. Learn what to do with your company benefits and 401(k). Learn how to avoid large tax consequences. Navigate irrevocable decisions such as survivor benefit payouts and pension options. 4

5 FW203: Insurance, What If? Personal financial protection. FW204: Maximizing Your Investments You have choices. Whether you re just starting out or well on your way, learn the importance of protecting your income, assets, loved ones and your legacy. Determine how much you may be at risk and options for filling your insurance gap. Insurance topics such as benefits of a cash value life insurance approach and intricacies of Long Term Care insurance are also included. Start by asking the right questions: Do I need insurance? What type of insurance do I need? How much do I need? Insurance Case Studies include: Benefits of a Cash Value Life Insurance approach Intricacies of Long Term Care insurance Term approach Perm approach Perm joint policy approach Do you have a balanced investment portfolio? Learn to recognize types of risk and your tolerance to them. Risks discussed include: Market risk Individual investment risk Purchasing power risk Loss of buying power Liquidity risk Volatility, portfolio recovery time, emotions of investing and dollar cost averaging will also be covered. Know how to construct and optimize your portfolio, and how to monitor your investments. In-class Exercise: Students will complete a simple Risk Tolerance exercise. An example of a portfolio asset allocation will be shown based on a specific risk tolerance level. 5