2001 Financial Planning for Women

Planning for Financial Independence and a Secure Retirement http://www.ces.purdue.edu/retirement Not your grandmas' retirement!
A monthly educational seminar designed to empower women, "Financial Planning for Women" is offered the second Wednesday of each month at 12:30-1:30 p.m. (USU Family Life building Rm 318) and 7-8:30 p.m. at the Family Life Center (493 N 700 E). Facilitator: Dr. Jean Lown, lown@cc.usu.edu; 797-1569
Are you looking forward to the day you retire? Or, do you dread the thought? Being able to retire when you want and enjoy life in style is important. Planning ahead can put you in a position to retire comfortably.
Think you're too young to plan for retirement? The earlier you start the easier it is to achieve financial independence so you can decide where and how long to work. And what about your parents (and grandparents)? If they are not financially independent when old age rolls around, will you be able to support them? Typically, in America, the responsibility to care for elderly relatives falls upon daughters rather than sons.
Perhaps you want out of the 8 to 5 routine early to start your own business, work part-time or be a consultant. More and more Americans are "retiring" early from their "day job" and working part-time on their own terms as they make the transition from full time employment to "financial independence." Baby boomers are changing how Americans think about life after work. Many of our ideas about retirement are changing so rapidly that experts are searching for a new word to define the "new retirement." Planning for Financial Independence might be a better term than retirement but whatever term you use, most Americans are woefully unprepared for supporting themselves when their regular paycheck ends.
Maybe you love your work and don't plan to retire? But what if ill health or a company lay-off terminates your paycheck early? Will you be prepared for financial independence?
The objective of 2001 FPW is to help you plan for retirement and financial independence. Each module provides valuable information to answer the questions you need to consider as you plan your future. The modules include specific goals for each topic, activities to complete, and resources for more information.
Similar to 2000 when FPW used the on-line course "Investing for Your Future," as the basis for monthly programs, in 2001 we will use a new on-line course "Planning for a Secure Retirement" http://www.ces.purdue.edu/retirement. An on-line course offers you the opportunity to complete the lessons on your own if you don't have time to attend FPW. This new course offers many interactive features not available in IFYF so the web is the ideal place to start your explorations while the monthly seminars are an opportunity to ask questions and engage in dialogue with other women facing similar challenges on how to prepare for a long, rewarding life.
Planning for Financial Independence and a Secure Retirement
January 10: The Financial Check Up with Alena Johnson
Find out where you stand financially today. Evaluate your debt ratios, insurance coverage and emergency savings. Learn how to do a yearly net worth statement to track your yearly financial progress. Ensure that your financial foundation is in order before you embark on your journey to financial independence and a secure retirement. Free Financial Checkup workbooks will be provided.
This schedule may change so send your email address to Lown@cc.usu.edu to receive notices.
February 14: Lesson 1. Developing Your Individual Retirement Plan
Are you ready to retire? Take the Retirement Personality Profiler
Find out your life expectancy with a handy calculator
What is your risk tolerance? What investments are suitable for you?
March 14: Lesson 2. How Much Will Your Expenses Be in Retirement? Calculating Needs
Use the Retirement Expense Calculator to determine your financial needs in retirement
and Secrets of the Millionaire Next Door
April 11: Lesson 3 When Can You Collect Social Security?
Basic information about Social Security
Compute estimates of your Social Security benefits.
See what happens to Social Security benefits if you retire early or delay retirement.
May 9: Couples Communication About Money with Barbara Kerkmann, B.S. in Family Finance, M.S. in Marriage and Family Therapy. Topics will include:
  1. Money the last frontier - or we can talk about everything else
  2. Family background - or MY family did it the right way
  3. The Dance of Balance and Power - or the Golden Rule: He who has the gold makes the rules
  4. Communication the right time and the right place - or setting the parameters
  5. Communication how to do it - listening, responding and problem solving
  6. What to do if things get out of hand -calming the fight or flight response
Bring your husband to this special program. This workshop will be useful for single women, too, as it will address communicating with family members about money.
Note different locations! 12:30 in TSC 335 and 7 p.m. at the USU Community Credit Union
June 13: Lesson 4. Quick Estimate of Income Needed in Retirement
Get a ballpark estimate for amount of income needed in your retirement.
Increasing your retirement income.
July 11: Lesson 5: Medicare and Other Health Benefits
Learn more about Medicare benefits and Medigap supplemental insurance policies.
Health benefits provided by an employer or a union after retirement.
August 8: lesson 6. Employer-sponsored Retirement Plans.
Defined contribution plans: 401(k) plans and 403(b) plans.
Profit-sharing plans. Defined-benefit pension plans
September 12: Lesson 7: Are You (or your spouse) Self-Employed &/or Responsible for Your Own Retirement? For Small Business owners, too.
If you or your spouse is self-employed (or plan to be) or if your employer does not provide a retirement plan, don't miss this session.
October 10: Lesson 8: Individual Retirement Accounts
Roth or Traditional– which is best for you? (particularly useful for young women)
November 14: Lesson 9: Lump Sum Distributions
What is a lump sum distribution and what should you do with it?
(useful to young women who can expect to change jobs numerous times during their working life)
December 12: Lesson 10. Other Concerns
Enjoying Retirement, Estate Planning, Retirement Housing, Long Term Care