May 2007 Newsletter
May 9: Great Mutual Funds for Your Individual Retirement Account. Learn about IRAs: Roth vs. traditional, mutual funds, and target date retirement funds. Even if you already have an IRA there are some major new developments you need to know about. If you think you don't need an IRA because you've got a retirement plan at work, read: http://www.cfp.net/certificants/updates.asp#2
Financial Planning for Women (FPW) is a monthly educational seminar that meets the second Wednesday of each month at two times: 12:30-1:30 p.m. in Family Life room 318 on the USU campus. Bring your lunch. The same program is repeated in the evening: 7-8:30 p.m. at the Family Life Center , 493 North 700 East, Logan (at bottom of Old Main Hill). The longer evening time slot allows for more discussion. Programs are free and registration is not required. For further information: (435) 797- 1569; email@example.com
Bring a female friend or colleague with you who is attending FPW for the first time and you will receive a thank you gift. Please speak up at the meeting and let us know.
June 13: Estate Planning; Attorney Rock Allen will speak at 12:30
July 11: The five timeless principles of investing. Jeff Salisbury, fee-only investment advisor
August 8: Choosing and working with a financial advisor, Allen Marler , CFP
Financial Planning Basics: http://www.CFP.net/learn/resources.asp
News & Resources
USU faculty and staff: View Dr. Phil Swensen's Retirement Seminar videos (6 sessions) online at: http://www.usu.edu/hr/retirementseminars2.cfm
Social Security Fix-It Book
"The Fix-It Book is a colorful and lively guide to the Social Security program, its long-term financing challenge, and leading proposals for fixing it. It explains:
* why Social Security has a long-term shortfall;
* how fixing it requires reducing benefits and/or raising revenues;
* what the pros and cons are of various benefit and revenue options; and
* why a long-lasting solution is needed."
"Creating a Financial Path to Graduation." Use this workbook to compare the costs of various colleges and consequences of borrowing. It was developed by BYU's financial aid office and funded by UHEAA. http://saas.byu.edu/depts/finAid/documents/fp2g.pdf
The workbook helps students think about how much debt they can sustain after they graduate in their chosen major. BYU reports that, overall, students reduced the amount they borrowed after going through the workbook.
Resources to enhance life-long learning:
Financial Security for All: Personal Finance (Extension web resource)
Fundamentals of Personal Financial Planning
This on-line course is ideal for motivated persons who want to learn more about financial planning. This open courseware (free; non-credit) online course was just released: http://ocw.uci.edu/courses/first/ffp.aspx
Read The Wall Street Journal Sunday in the Sunday Salt Lake Tribune Business Section or read it online: http://online.wsj.com/public/page/sundayjournal.html
Small Steps to Health and Wealth (follow up on January FPW program):
"This program is designed to motivate consumers to implement behavior change strategies that simultaneously improve their health and personal finances." Check out the resources and encouragement at: http://www.njaes.rutgers.edu/sshw/
What If You or Your Spouse Became Disabled?
The rate of disability among Americans is increasing. Think it couldn't happen to your family? Want to learn more?
What are the chances of becoming disabled?
What are the most common causes of disability?
How can disability affect your ability to pay bills and plan for retirement?
* 49.7 million Americans were classified as disabled in the 2000 Census.
* A person suffers a disabling work injury every nine seconds.
* Over 90% of disabling accidents and illnesses are not work related.
Learn how to prepare and to protect your financial security at:
Mymoney.gov "Without some guidance, planning your finances can be a little confusing. That's why more people are visiting mymoney.gov, a website dedicated to helping all Americans understand more about their money and get their financial planning off the ground. Saving for your future is important and it's not as painful as you may think. Mymoney.gov will show you step by step how to Choose to Save."
Housing and Financial Counseling ( USU Family Life Center ) workshops:
Saturday May 12 Homeownership workshop 8:30-4:30 Registration required: 435-797-7430.
Smart Money education series for teenagers 14-18 years and their parents.
Wed. May 16, 6:30 p.m. USU Charter Credit Union , 198 N. Main , Logan . In downstairs conference room (enter at rear of building). Workshops are free. To register: 753-4080, ext 3400 or firstname.lastname@example.org
Planning Ahead: Utah Retirement Systems Pre-Retirement Seminar comes to Logan on Thursday September 20, 9 a.m.-4 p.m. This seminar is designed for URS participants within 5 years of retirement. Free for members and spouses. Seminars fill quickly so register now: 800-753-7750.
The USU Family Life Center , 797-7224, 493 N 700 East (bottom of Old Main Hill), provides individual financial counseling. This is the best source for basic money management and getting out of debt. They offer the PowerPay computer debt analysis. Counseling sessions cost $5 for first session with sliding scale charges based on family income and family size for subsequent counseling sessions.
Thanks to the Certified Financial Planner Board Grant for financial support of FPW.