The document summarizes a financial workshop for women that covered various topics:
- Encouraging women to share financial insights and learn from real-life scenarios.
- Discussing unique challenges women face such as earning less and living longer.
- Covering scenarios of different women at various life stages and the financial advice provided.
- Emphasizing the importance of being prepared, insuring against risks, reducing debt, estate planning, and maximizing retirement savings.
- Advising seeking help from financial professionals for investments, insurance, taxes, legal issues, and more.
New "flip book" eMagazine is available for you right here. The value of insurance is front and center in this new publication which features an easy to use flip book feature. VantagePoint magazine is an independently produced quarterly publication that offers valuable information for mature adults (55+).
New "flip book" eMagazine is available for you right here. The value of insurance is front and center in this new publication which features an easy to use flip book feature. VantagePoint magazine is an independently produced quarterly publication that offers valuable information for mature adults (55+).
Women have never been in a better position to achieve financial security for themselves and their families. Women need to take advantage of this position and educate themselves about finances, seek professional help when needed, and implement plans to ensure that they and their families will have financially secure lives.
Experian recently surveyed newlyweds nationwide to see what role credit and finances play in establishing a life together and achieving long-term financial goals, such as buying a home. The results suggest financial discussions should take place before saying “I do.”
Virtual report launch – Peace of mind: Understanding the non-financial benefi...ILC- UK
While previous research on the value of financial advice has tended to focus on the financial impact to the person, far less is known about whether there are any wider holistic benefits to receiving financial advice.
Building on our previous research on the financial value of advice, this report explores:
Whether there are non-financial benefits to taking advice;
Whether those who have not yet taken advice, perceive there to be non-financial benefits to taking advice;
Whether non-financial benefits differ amongst different sub-group groups including age, gender, or wealth; and,
What may be driving the non-financial benefits of advice.
Employee Health & Financial Wellness approachWarren Handsor
Manulife in 2014 in cooperation with Ipsos Reid Research Manulife's objective to assist employers of all sizes to gain greater insight into the connection between employee health, wealth and their company's success.
T. Rowe Price’s 2019 Parents, Kids & Money Survey found that stress among parents who are caring for both their kids and aging family members, commonly known as the sandwich generation, is negatively impacting their money habits and their kids’ money habits.
Trying to shovel your way out of a mountain of debt? Popular financial expert Dave Ramsey, the host of the nationally-syndicated radio program The Dave Ramsey Show, suggests that you follow these seven "baby steps" as you pay off debt and build wealth.
If you have a healthy bank balance and good income generating investments, you have managed your personal finances well and this presentation is not for you. If you think you need to manage your finances better, there are ways to help you live within your means, stay well clear of undesirable debts and apply some useful personal finances techniques.
The 7 Baby Steps is a guideline to help you get to financial peace.
These, taken in chronological order helps you prepare for the unexpected or things you know about but choose to ignore.
1) $1k emergency funds
2) Debt Snowball
3) 3-6 months of living expenses
4) 15% to IRA
5) College Savings
6) Pay off house early
7) Build wealth and give
Most baby boomers will face seven key events in their last stage of life that will color their finances and investments. Prepare for these events by thinking about them now.
T. Rowe Price’s 2020 Parents, Kids & Money Survey found that parents who try to keep up a financial façade are more reluctant to discuss money with their kids. To help parents discuss money with their kids, the firm created MoneyConfidentKids.com.
Women have never been in a better position to achieve financial security for themselves and their families. Women need to take advantage of this position and educate themselves about finances, seek professional help when needed, and implement plans to ensure that they and their families will have financially secure lives.
Experian recently surveyed newlyweds nationwide to see what role credit and finances play in establishing a life together and achieving long-term financial goals, such as buying a home. The results suggest financial discussions should take place before saying “I do.”
Virtual report launch – Peace of mind: Understanding the non-financial benefi...ILC- UK
While previous research on the value of financial advice has tended to focus on the financial impact to the person, far less is known about whether there are any wider holistic benefits to receiving financial advice.
Building on our previous research on the financial value of advice, this report explores:
Whether there are non-financial benefits to taking advice;
Whether those who have not yet taken advice, perceive there to be non-financial benefits to taking advice;
Whether non-financial benefits differ amongst different sub-group groups including age, gender, or wealth; and,
What may be driving the non-financial benefits of advice.
Employee Health & Financial Wellness approachWarren Handsor
Manulife in 2014 in cooperation with Ipsos Reid Research Manulife's objective to assist employers of all sizes to gain greater insight into the connection between employee health, wealth and their company's success.
T. Rowe Price’s 2019 Parents, Kids & Money Survey found that stress among parents who are caring for both their kids and aging family members, commonly known as the sandwich generation, is negatively impacting their money habits and their kids’ money habits.
Trying to shovel your way out of a mountain of debt? Popular financial expert Dave Ramsey, the host of the nationally-syndicated radio program The Dave Ramsey Show, suggests that you follow these seven "baby steps" as you pay off debt and build wealth.
If you have a healthy bank balance and good income generating investments, you have managed your personal finances well and this presentation is not for you. If you think you need to manage your finances better, there are ways to help you live within your means, stay well clear of undesirable debts and apply some useful personal finances techniques.
The 7 Baby Steps is a guideline to help you get to financial peace.
These, taken in chronological order helps you prepare for the unexpected or things you know about but choose to ignore.
1) $1k emergency funds
2) Debt Snowball
3) 3-6 months of living expenses
4) 15% to IRA
5) College Savings
6) Pay off house early
7) Build wealth and give
Most baby boomers will face seven key events in their last stage of life that will color their finances and investments. Prepare for these events by thinking about them now.
T. Rowe Price’s 2020 Parents, Kids & Money Survey found that parents who try to keep up a financial façade are more reluctant to discuss money with their kids. To help parents discuss money with their kids, the firm created MoneyConfidentKids.com.
32 Ways a Digital Marketing Consultant Can Help Grow Your BusinessBarry Feldman
How can a digital marketing consultant help your business? In this resource we'll count the ways. 24 additional marketing resources are bundled for free.
This general financial strategies seminar is designed to empower women to excel in managing their finances. It discusses issues specific to women\'s personal and financial concerns for each stage of life.
Building the Pieces of Your Financial FutureFSRoundtable
The Financial Services Roundtable, its Save 10 initiative and WISER will hold a two-panel livecast event highlighting ways to build a personal financial future and plan for a retirement supported in part by Social Security.
Watch Live: https://livestream.com/FSRoundtable/FinancialPuzzle
Stephen Cagnassola expertise in advising retirees and those about to retire on how to protect their principal and ensure their money lasts. His clients come to him because Stephen can help him to reduce their taxes by as much as 50%, prevent taxation on social security income, avoid and significantly reduce estate taxes, and protect their life savings from stock market risk.
Watch our webinar about financial planning for women in the education community.
Some of the topics covered include:
How different life changes affect a woman’s finances
How to take control of your money
Understanding your investment options
The financial effects of future care giving duties
How to protect you and your family
Ways to become more financially savvy
It’s a live, web-based show hosted by Bruce Sellery, a former BNN anchor, and Lisa Raponi, a Certified Financial Planner.
What factors should we consider before deciding to commute a pension plan to take the lump sum, instead of remaining as a member of the pension plan and getting a fixed income?
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
Yes of course, you can easily start mining pi network coin today and sell to legit pi vendors in the United States.
Here the telegram contact of my personal vendor.
@Pi_vendor_247
#pi network #pi coins #legit #passive income
#US
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
1. Ray Castaldi President: Castaldi Financial Solutions Invest In Yourself Women and investing workshop
2. Welcome to Invest in Yourself Our Goals To encourage you to share your insight with others as it relates to your financial well-being To help you learn from some real-life scenarios women face To provide actionable ideas to help you establish & maintain your own financial security
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6. Common Financial Events Saving for college Birth of a child Getting married Buying a home Caring for children/parents Starting a business Relocating Dealing with unexpected changes Childcare/daycare Divorce Inheritance New job Promotion Living alone Working part time vs. full time Now for some real-life scenarios… Making Progress
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9. Allison’s Story Paying Off Debt Is a Positive 1 Stafford loan in 2008-09 2 www.indexcreditcards.com 10/3/08; www.seekingalpha.com 9/3/08 What would you tell Allison to do? Item Interest Rate Years Car 6.58% 5 Student loans 6.00% 1 10 Credit cards (rewards program) 19.00% 30 2 Savings <1.00% Financial strategies
John Hancock Funds January 17, 2011 Invest In Yourself
John Hancock Funds January 17, 2011 Invest In Yourself Welcome to the “Invest in Yourself” workshop. My name is (insert name and title) and I’m delighted to have you at this event. I have three predominant goals: To encourage you to share your story with others, as it relates to your financial well-being To help you learn from some real-life scenarios women face To provide you with actionable ideas and steps to help you establish and maintain your own financial security At this event, I will share time-tested investment and insurance strategies with you that can help you establish and maintain your own financial security. Additionally, I will encourage you to share your story along the way. Regardless of your age, you have an important story to share with members of your family, women at work and your peers and friends. As we go through this presentation, if you have any questions at any point, just raise your hand and let me know.
John Hancock Funds January 17, 2011 Invest In Yourself It’s the classic good news/bad news scenario. On the bad news front, for many years now, we’ve been told the generalities that women earn less than men, spend fewer years in the work force, and live longer than men. These are indeed unique challenges that women face. Additionally, a U.S. Bancorp Piper Jaffray study in 2006 found that, when young, many women were not encouraged as much as boys were to learn about managing money, and were less likely than boys to describe themselves as financially knowledgeable or confident about managing money. The good news is that, when compared to men: Women seem to be better at investing¹ 1 out of 3 wives earns more than her husband² Women are more likely than men to participate in a retirement plan³ This information provides women with unique opportunities ¹ Kiplinger.com, December 2006. ² Redbookmag.com, March 2005. ³ Employee Benefit Research Institute, November 2005.
John Hancock Funds January 17, 2011 Invest In Yourself Part of crafting your own financial story is talking with others, and hearing their mistakes and triumphs. Every woman has things she can learn and things she can teach, about personal finances. Let’s start off with an exercise, an icebreaker of sorts. I’d like to divide you into five groups, and assign each group a question to discuss. I will then call on various members of the different groups to share what their group talked about. Remember, everyone’s experience is different, and there are no right or wrong answers. Let’s start with this discussion exercise. Take 5-7 minutes to prepare one or several answers to the following: [Leader to prompt speaker from each group to recap] Group 1: What is the best financial decision you ever made? What action did you take or not take? Group 2: What’s a financial decision you regret, and what did you learn? Group 3: What is your earliest memory of money and how has that helped or hindered you? Group 4: What are the two biggest financial challenges you’re facing —and who can help you? Group 5: What piece of advice do you have for women who are new investors or new to the workplace? Stay in your groups, and let’s do another exercise, a quiz of sorts. I’m going to assign each group a statement to decide whether it’s true or false.
John Hancock Funds January 17, 2011 Invest In Yourself Stay in your groups, and let’s do another exercise, a quiz of sorts. I’m going to assign each group a statement to decide whether it’s true or false. #1: The statement is false. Nearly half of all women ages 21-34 live paycheck to paycheck. #2: The statement is false. A study on financial knowledge and confidence showed that 65% of widows give themselves an “8” or better on a scale of “1 to 10” compared to only 40% of married women, 40% of single women and 52% of divorced women. #3: The statement that most women will receive one inheritance in the next 20 to 30 years is also false: most women will receive two inheritances —one from their parents and one from their spouses.³ #4: Eighty-three percent of mothers return to work, and to the same employer, within a year of having a child. Seven in 10 of these women returned to positions with the same pay, skill level and hours worked per week. One primary reason for this is that more women are waiting until they have children and focusing on their careers first. More than a third of first-time mothers are over 30 when they have their first child. #5: The statement that women save for retirement first, their children’s college second is also false: more women put saving for their children’s college ahead of saving for their retirement.” 5 Anything surprise you from these findings? (Take a minute for responses.) ¹ CNNMoney.com, June 6, 2008, updated October 6, 2008. ² “Women Building Wealth,” www.womenbuildingwealth.wordpress.com, November 20, 2007. ³ Boston College Social Welfare Research Institute, cited in Capgemini/Merrill Lynch World Wealth Report 2004, www.bc.edu 4 US Census Bureau, www.census.gov, February 25, 2008. 5 Ignites, Nov. 27, 2007, www.ignites.com
John Hancock Funds January 17, 2011 Invest In Yourself In the previous slide, we touched on topics such as saving for college and starting a family that can require a large financial commitment. What are some other life events or common financial needs [Speaker to encourage group to throw out topics] [Encourage audience to throw out responses] [Some responses might be: Going to/saving for college // Starting a family // Getting married // Buying a home // Caring for children/parents // Starting a business // Relocating // Dealing with unexpected changes // Living alone // Childcare or daycare // Working part-time vs. full-time // Divorce // Inheritance // New job // Promotion // That’s great. What we can all see is that there’s a lot to balance, and this is the reality the vast majority of women face, throughout their entire lives. [CLICK] Let’s talk about a few of these in detail with some real-life scenarios.
John Hancock Funds January 17, 2011 Invest In Yourself Allison Keyes, who at 28, recently finished graduate school and now is working. Allison recognizes the importance real estate has as an investment in her financial security and independence, but is worried about the level of debt she is carrying. [AUDIO: I’ve worked hard, and I finally have a good job. My next goal is to buy a condo, but… should I reduce my debt first? I’m not sure what will have the most impact and benefit me more in the long run. Should I pay off more on my car, eliminate some credit card debt, or start paying down some of my student loans?] Some strategies Allison can employ to bring down her debt are: Paying more than the minimum on her car payment Contacting her credit card companies to negotiate a reduced interest rate, and paying more than the minimum monthly payment Typically the interest rate on student loans is lower than that on credit cards or auto loans. While it can’t hurt to pay more than the minimum monthly payment, Allison will get the bigger impact renegotiating the interest rate on her credit cards, and paying more than the minimum on those and her car payment. By paying off debt, Allison can boost her credit score, thus helping her to secure a lower interest rate on her mortgage. Paying down debt is very important. What are some other things Allison should do? (Take a minute or two for responses.)
John Hancock Funds January 17, 2011 Invest In Yourself There are so many positive things you can do when you’re just starting out in the workforce to secure your financial future. Let’s spend a few minutes looking at the debt issue and start by considering some troubling realities: Research shows that 47% of single women, ages 21 to 34, carry unpaid credit card balances averaging about $2,000.¹ And the average interest rate on credit cards in the U.S. is 19%.² It’s never too early to begin saving for retirement, particularly if you have the opportunity to contribute at work, through an employer’s 401(k) plan. Starting early, and regular contributions are the key to a more comfortable retirement. As for disability insurance, you may want to consider getting this, particularly if you’re single, or are the primary breadwinner, or have your own business. It protects you and your family if you are unable to work and earn an income by replacing your salary and providing monthly benefits. It’s a good idea to have some money put aside for emergencies, but how much? Typically, you should have three to nine months’ total living expenses set aside. Do you feel totally secure in your job? Are you in an industry where you could easily find another job? Then a three-month reserve might be sufficient. For most people, six to nine months or more is a better goal, especially if you’re the sole or primary earner. Keep the emergency funds in a separate account, where you’re not tempted to use it. ¹ The Smith College Program in Financial Education, 2006. ² Source: Seekingalpha.com, 9/3/08
John Hancock Funds January 17, 2011 Invest In Yourself As you can see, car loans and student loans typically have lower interest rates than credit cards. It makes sense – if you have to use a credit card at all – to find one with the lowest possible interest rate, and to pay more than the minimum payment. A savings account typically does not have a very high rate of interest, and surely will fall short if that is the sole source for retirement savings. That’s why contributing the maximum to your employer’s plan makes better sense. What would YOU tell Allison to do?
John Hancock Funds January 17, 2011 Invest In Yourself Action #1: Your first action step is to establish an emergency fund. It’s essential to be prepared for an unforeseen crisis by having emergency funds, that can be tapped quickly and easily, without penalties or restrictions. How much you set aside is typically determined by your living expenses. Typically, you should have three to nine months’ total living expenses set aside. Do you feel totally secure in your job? Are you in an industry where you could easily find another job? Then a three-month reserve might be sufficient. For most people, six to nine months or more is a better goal, especially if you’re the sole or primary earner. It’s smart to keep your emergency fund separate from other funds so you will be less tempted to use it. Action #2: Your next step is to check your credit score, call or go online to one of the three credit bureaus: Equifax, Experian or TransUnion or go to freecreditreport.com. Make sure your report doesn’t contain any errors. Action #3: Create a budget aimed at paying off your debt. If you want to reduce your debt, you can try to negotiate a lower rate. Recently, credit card companies have tightened their lending standards but negotiating a better rate is possible if you have a good credit score. Also, it’s wise to consolidate balances to the card with the lowest rates. Money not spent on credit card payments could be used for: investing more in your 401(k) each month, building up your emergency fund, as well as other investments. Next we’ll hear from Sue.
John Hancock Funds January 17, 2011 Invest In Yourself Sue Robinson is 34 and newly pregnant. We hear her voice: [AUDIO: “ When we found out we were having a baby, we were so excited. Now that it’s getting closer, we don’t know what to do first. I’m not sure if I’ll want to extend my maternity leave, work part-time, or stay at home. Should we look for a bigger home, start saving for college, or get life insurance?”] These are all important considerations, and can be difficult to decide among them, since they all involve a long-term financial commitment. GROUP DISCUSSION: What are some things Sue should consider? (Take a minute or two for responses.)
John Hancock Funds January 17, 2011 Invest In Yourself Let’s look for a minute or two at the need to insure for the unexpected. Now that Sue and her husband will have children and will be financially responsible for someone else, they likely need life insurance to provide for beneficiaries, in the event of unforeseen circumstances—such as their death. A rule of thumb is to buy life insurance that is equal to six to eight times your annual income but there are many factors to consider. This includes your income and debts, future income and needs and the protection you want for your loved ones. In addition, learn how a life insurance policy on a woman’s spouse or partner can help provide tax-free income following the spouse/partner’s death. Additionally, Sue is not sure in what capacity she’ll return to work. She may want to discuss flexible work arrangements – such as working from home, telecommuting, or job sharing – with her employer. A 2007 survey by the Association of Executive Search Consultants reveals that 85 percent of recruiters have had candidates turn down a job because it lacked work/life balance. Ninety percent of recruiters believe that work/life issues are more important than they were in 2002.
John Hancock Funds January 17, 2011 Invest In Yourself In this case, Sue’s action steps are: Check out her employer’s (and partner’s too) life insurance policies and increase coverage/purchase additional policies Look into your company’s policy on flexible work arrangements such as working part-time or from home or job sharing. Continue to contribute to a retirement account. Just because you pause in your career doesn’t mean that your retirement savings should pause as well. Complete a beneficiary review and update your will to add children Consider naming a guardian for your child, in the event you are unable to care for him/her Andrea provides our next case study.
John Hancock Funds January 17, 2011 Invest In Yourself Andrea Caponi is 45 and newly divorced, and re-entering the workforce after a 17 year hiatus. We hear her voice: [AUDIO: “ I married my college boyfriend at 25 and worked for a few years before we started our family. When the youngest started school six years ago, I began volunteering in the public schools and at our local hospital. Fast forward to now, and my husband and I are in the midst of a divorce. I have the three kids with me most of the time, the oldest of which will start college in the fall. Financially, it’s been a huge adjustment, and I need to go back to work. I’ve been out of the workforce for 17 years now and don’t know where to start.”] GROUP DISCUSSION: What advice would you give Andrea? (Take a minute or two for responses.)
John Hancock Funds January 17, 2011 Invest In Yourself While it’s true that a woman’s economic lifestyle drops by 27% in the first year after a divorce1, there are certainly several options for Andrea to consider. Analyze tax consequences of asset division: owning the family house may sacrifice women’s share of pension and retirement assets. Secondly, it’s critically important to educate yourself on family finances. You can do this by reviewing bank statements, tax returns, paystubs, cancelled checks and determine a household budget. Knowing where you stand financially can help you prioritize the tasks around getting back in the work force. Finally, you may want to consider an “interim” job. An interim, not-quite-perfect job can assist with bills and the need for benefits. You can start your job search by examining previous work and volunteer experiences and identifying components of each prior experience that you loved and at which you excelled. Find skills that are transferrable. 1 Leslie Bennetts, The Feminine Mistake, 2007
John Hancock Funds January 17, 2011 Invest In Yourself Andrea might want to do the following action steps: Update beneficiaries, wills, and other documents and records Know where she stands financially to know exactly where the money goes Visit irelaunch.com or read: “Career Track: A Guide for Stay-At-Home Moms Wh Want to Return to Work” by Carol Fishman Cohen and Vivian Steir Rabin Consider freelancing or part-time projects to take catch-up courses to brush up on trends
John Hancock Funds January 17, 2011 Invest In Yourself Create a resume using resume creation software, available online or at any library. Resumes for relaunched careers should focus on skills and abilities, not just chronological work history. A volunteer position at the hospital might mean: Chairwoman of the fundraising committee that raised $2 million dollars in new funds, a 21% increase Learned how to deal with stressful situations and streamlined forms process as emergency room volunteer Created, funded and launched a children’s story hour for patients in extended care Many, if not all, skills learned are transferable! The next case study we’ll look at is Jenny’s
John Hancock Funds January 17, 2011 Invest In Yourself Let’s listen to another story now, this time from Jenny Wong, who’s 55 and caring for multiple generations of her family: [AUDIO: My mother was diagnosed with Alzheimer’s two years ago. Recently, she’s had a couple of accidents in her home, so she’s moving in with us – me, my husband, and my two teenagers still at home. She’s still with it much of the time, but her information is in complete disarray. I can barely keep up with her prescriptions and medical appointments. She’s nervous about her money, not sure how much or where it all is. I’m considering leaving my job to care for my mother full time. I’m worried that my mother may have to go to a nursing home.] GROUP DISCUSSION: Has anyone been in a similar situation as Jenny? (Take a minute or two for responses.)
John Hancock Funds January 17, 2011 Invest In Yourself That’s very good feedback. What are some key things Jenny should consider? What should Jenny do? For starters, if Jenny looked into LTC insurance for her mom, but because of her mom’s diagnosis, age, and recent incidents, the premiums would be too expensive. It’d still be a good idea for Jenny to get LTC insurance for her and her husband. Let’s briefly look at long-term care insurance. As you likely know, Americans are living longer and healthier lives, which is exciting news. The sobering news is that now the greatest financial worry for retirees is living longer than their savings.¹ To help manage rapidly rising health care costs, it’s very wise to consider long-term care insurance before you retire because premiums get more expensive as you get older. Long-term care insurance is an insurance policy that provides benefits to the chronically ill or disabled over a long period of time; appropriate for those 50 or older and reasonably healthy Also, there are adult daycare resources that could help Jenny better manage her time and caring for her mother. www.seniorresource.com is a very good site, providing a lot of information for seniors and their caregivers. ¹ NAVA, The Association for Insured Retirement Solutions, 2008 www.navanet.org
John Hancock Funds January 17, 2011 Invest In Yourself There’s some very definite steps that Jenny can take. if you’re close to 50, learn about long-term care insurance now when the rates are lower than if you wait until you’re older. If you’re over 50, with, extended care will become an increasing concern as you age so the action you should take is find out about long-term care insurance as soon as possible. Additionally, Jenny would be wise to sit down with her mom while her mom is still cognizant to discuss a variety of topics: such as completing a financial checklist, including but not limited to discussing Power of Attorney options that would enable Jenny to act on her mother’s behalf for such things as banking and buying or selling property, as well as recommending her mom visit an independent financial professional. I stress the importance of INDEPENDENT. The reason being, often times, people with Alzheimer’s get confused and accuse their loved ones of trying to rob them or steal from them – particularly with money and assets. Jenny will want to ensure that her mother has a will or estate plan in place. Before Jenny resigns from her job, she’ll want to look into the requirements around her pension and any vesting regulations for her retirement account Now let’s hear from Ellen
John Hancock Funds January 17, 2011 Invest In Yourself Now we hear from Ellen, who’s 72, retired, but concerned for her future: [AUDIO: I was a teacher in the public schools for 40 years before retiring with a pension. I was married to my high school sweetheart at 21, and he passed this year, just after we’d celebrated our 50th anniversary. I have my pension as well as my late husband Don’s Social Security, and some stocks and mutual funds. But I worry that it won’t be enough. I’m concerned about the rising price of prescription medications, as well as how long I’ll be able to live on my own for, without assistance. My children are grown, and don’t live nearby, but I’d like to leave a legacy for my three grandchildren, however small it may be.] What advice would you offer Ellen?
John Hancock Funds January 17, 2011 Invest In Yourself Those are good things for Ellen to think about. Typically, someone at Ellen’s stage of life should consider estate planning and leaving a legacy to heirs, in this case, Ellen’s granddaughters. Estate planning isn’t just about creating a will, and what happens after you die. In addition, you can establish trusts – living or otherwise, set up annual gifts, prompts you to update – or create – beneficiaries, will help you name an executor of your estate as well as establish power of attorney in the event you become incapacitated. Jenny’s very concerned about leaving a legacy to her granddaughters. A recent study from The Hartford showed that on an annual basis, grandparents are already spending over $2000 on their grandchildren and that 65% of grandparents intend to contribute to the grandchildren’s college education. Over half who plan to contribute plan to give $10,000, with a quarter reporting they plan to give more than $30,000. Finally, fully 60% of grandparents believe their grandchildren could benefit from a discussion with their financial professional?1 1 The Hartford, Lasting Legacy, 2008
John Hancock Funds January 17, 2011 Invest In Yourself Ellen should likely complete the following Be certain that she has a will and estate plan, and that named beneficiaries are up to date. This legal document will protect Ellen’s assets and help reduce confusion and possible conflict over her estate Ellen should review her IRA accounts to ensure there will be no spousal continuation mistakes. For example, if Ellen named her late husband Don as her initial beneficiary, she’ll want to make sure she’s changed that, to perhaps one of her granddaughters. While Ellen plans to leave a legacy for her granddaughters, if they have taxable income, establishing a Roth IRA for them can be a great way to set them on the right track toward retirement Last but not least, Ellen should speak with a financial professional. There are several types to choose from that we’ll touch on in a couple minutes
John Hancock Funds January 17, 2011 Invest In Yourself Through the shared stories of Sue Robinson, Jenny Wong, Andrea Caponi, Allison Keyes and Ellen Anderson we’ve covered some very important strategies. These strategies are key being able to understanding financial basics in order for women to earn independent livelihoods and lead meaningful lives. We can all benefit from practicing these strategies. The strategies covered today are: Being prepared for emergencies Insuring for the unexpected Reducing debt Creating a will and an estate plan Contributing the max to retirement plans Knowing where you stand Seeking expert advice
John Hancock Funds January 17, 2011 Invest In Yourself As we mentioned earlier, it’s always the right time to meet with a financial professional. There are several different types of licensed financial professionals who can help you with the financial decisions — large or small — in your life. Some types of professionals are: Financial Consultants – these people can help with investments, retirement and estate planning. Insurance Planners are able to give advice for protecting against unexpected occurrences. Accountants – can offer knowledge of tax issues, and in some cases, investments and estate planning. Finally lawyers provide advice on wills, trusts, all level of estate and probate services, as well as some complicated financial transactions. All of these professionals can offer advice and guide you to what’s appropriate for you and your lifestyle. Through it all, each step you take to secure your financial future is really about investing in yourself.
John Hancock Funds January 17, 2011 Invest In Yourself By sharing your story, you can share your experiences with others, as well as learn from their stories, and vice versa. You’ll help others succeed in becoming financially successful. Learn from your past mistakes, and others’ knowledge Talk to women you work with and who work for you, in your classes, on your sports teams, and in your groups and organizations Extending your network and sharing your story are mutually beneficial activities Check named beneficiaries to prevent inheritance mistakes Consolidate accounts for ease and convenience Always keep asking, learning and sharing.
John Hancock Funds January 17, 2011 Invest In Yourself The strategies we discussed today and other important ones are in the 10 Proven Strategies guide. I encourage you to read it and discuss it with (me or your financial adviser). A book geared to women’s finances is Jean Chatzsky’s “Make Money Not Excuses” I also suggest that you find a Web site or sites that you like and regularly use them to gain advice, updates and insight. Here are a few for you to consider: www.wife.org, the Women’s Institute for Financial Education, was the first women-focused site and is now the oldest; they provide a range of information, including online investment clubs. Did you know that all-female investment clubs have outperformed male-only and mixed-gender clubs, and many welcome novice investors.¹ For Boomers, particularly those over 50, there is www.aarp.org, AARP’s site, and two similar, newer sites: Eons at www.eons.com and Boomer Town at www.boomertown.com. You can also find Web sites that focus on helping successful women manage life and work, and they include financial planning and investing resources. One popular site is Pink Magazine at www.pinkmagazine.com. Additionally, it’s important to regularly consult with (me or your financial adviser). This is yet another of the 10 Proven Strategies that can help you on your path to financial independence. ¹ www.wife.org
John Hancock Funds January 17, 2011 Invest In Yourself
John Hancock Funds January 17, 2011 Invest In Yourself I would like to open this up to your questions and, before you leave, pass out copies of 10 Proven Strategies . I would like to thank you for attending this event. You’ve been a great audience and I encourage you to meet with (me or your financial adviser) to discuss your individual and unique needs and goals, to keep the dialogue going and, of course, recognize, value and tell your story.