This document provides information on risks families face and how to manage them. It discusses illness, death, job loss, and financial crisis as key risks. It recommends having insurance, estate planning, health savings, power of attorney, and separate savings for education, special situations, and retirement. The document also discusses how families can be informed about risks through government advertising, various media like television, radio, newspapers and social media. Finally, it discusses how families can handle risks through open discussion, utilizing members' experiences, and consulting experts to determine the best investment and savings strategies based on their needs.

1. The Family Risk and
Risk management plan
Nafiseh Rezaei Lahiji

2. Family Risks
Illness Death Incapacity Losing job
Financial
Crisis
Risks that Family deals with

3. Even the best investment and finanacial plans can crumble if you
have not properly prepared for the risks that exist for every family. By
having insurance policies, estate planning cinsisting of wills, Trust,
Health care investment, power of attorney for financial issues, will
face and cope with above issues much more smoother. Each family
should plan different investment/saving for different purposes:
Risks that Family deals with

4. Education Planning
Every child dreams about what they will be when
they grow up and a college education can be
most important factor in that dream becoming a
reality. Although the available education
planning choices is important but can be
confusing as well.
So it is important to know how your saving will affect your child's ability to
qualify for financial aid as well as the implications for your incomes and
tax situation. So you need to identify how much money you need to send
to children, determine how much you need to save and how this
investment fits with your overall investment management plan.

5. Special situation Planning
Throughout your life, as you pursue your long-term goals some expected or
unexpected needs will come your way, whether it is planning for a wedding,
deciding to buy a second home, along care need due to an Illness, taking a
spur of the moment dream Vacation or facing unexpected expenses due to
unforeseen event.
So every family should plan for these
unexpected situations and find a Path to
get through whatever financial challenges
or opportunities arise.

6. Retirement Planning
People who entering retirement are facing concerns that did not face 20 or 30
Years ago for example they may need to improve their Health care program
while life expectancies rise.
In addition to the concerns that exist, it is important to first establish a clear
vision of what retirement to yourself.
• Will you continue to work part time?
• Will be travelling around the World?
Then according to level of assets need to
fund your vision of retirement such as
level of income you can plan for it.

7. How can Families be informed about the Risks?
Government:
Government has a key role in both informing the families as well as train them to
handle the Risk. In order to improve family general knowledge about Risk & Risk
management advertisement will be useful.

8. How can Families be informed about the Risks?
Media:
The Media play an important role in increasing of public awareness and formation
their views and attitudes toward certain issues.
Television has its own viewer in different age categories with different taste. Radio
has more specific addressed than the Television and contains limited range of
Society. Different people read Newspaper for different reasons. The Media in general
and the Newspaper in particular play a great social role in shaping a Society. They are
in constant interaction with the people by providing News and Information.

9. How can Families be informed about the Risks?
Social Media:
Nowadays, Internet resources are one of the most common means of
communication -especially for young generation- as mass Media.
With the proper formulation of the issue and placing posts in the blogs, social
Networks and Forums, the discussion on the topic can continue for months and
attract more attention than other types of Media

10. How Families can Handle the Risk?
Family Member:
Each of the member of Family is important in handling the risk e.g. by using their
experience or using their ingenuity to solve unexpected problems, also the
young members who study in College or University maybe has unique
information about Risk or handling way. Or even Parents can simply be informed
about different issues by Colleagues or group of friends.
By gathering all the information and discussing about it in family, based on the
family position and income situation the best plan can be implemented.
Experts:
Experts (e.g. Insurance expert) also can help
family to define different level of risks and family
plan for managing them. Experts can determine
the best way of investment and saving considering
current level of family income and asset.

11. An Example of Social Media Role to Improve the Family
Knowledge:
https://www.youtube.com/watch?v=4mTV4KK2Pd0&feature=youtube_gdata_player