Personal Finance: The Basics for Establishing a Strong Foundation
Tuesdays, February 16 – March 9, 7:00 – 9:00 pm in the Fireside Chapel
The Outline for the Course:
Week 1 – Financial Basics
Budgeting and Cash Flow management
Nine Reasons People Fail Financially
Procrastination
Failure to set clear goals
Failure to establish a plan
Unwise use of credit
Inflation
Lack of understanding tax laws
Failure to plan for the unexpected
Neglecting to plan their estates
Making your money last
Week 2 – Retirement
Retirement Defined
Social Security
Retirement Plans
Personal Retirement Plans
Traditional IRAs
Roth IRAs
Employer Retirement Plans
Defined Benefit
Defined Contribution
Withdrawing from Employer Plans
Required Minimum Distributions
Choosing your Beneficiary
Retirement Checklist
Week 3 – Investments
Investment Choices
Types of Investment Risk
Emergency Reserves
Cash Equivalents
Debt Investments – ”Loanership”
Equity Investments – ”Ownership”
Comparing Market Measurements
Stock Market Fluctuations
Using Portfolio Managers
Obtaining Professional Management
Mutual Funds
Dollar-Cost Averaging
Power of Tax Deferral
Tax Deferred Annuities
Asset Allocation
529 Plans
Procrastination – Your Greatest Investment Risk
Week 4 Risk Management & Estate Planning
Risk Management
Ways to Manage Risk
Health Insurance, including Medicare
Disability Income Insurance
Long Term Care
Life Insurance
Estate Planning
Importance of Estate Planning
Planning for Incapacity
Distributing Assets at your Death
Taxes and your Estate