Workshop #1: A Race Between Time and Money

This workshop is primarily for employees nearing retirement. It provides specific financial and tax strategies for a comfortable retirement while leaving a lasting legacy for heirs and loved ones.

Purpose: Today’s retirees face a financial world that is much more complex than ever before. While it is impossible to completely remove risk from life, one can control risk through education and by being better prepared.

At this workshop, participants will learn how to be better prepared for today’s challenges. Topics covered will include:

  • The Age Wave – people are living longer and healthier lives, but they are also retiring earlier, thus leaving a wider financial gap to fill.
  • The Pension Debacle – the traditional pension plans are being replaced by self-directed defined contribution plans. This means the burden of funding for retirement has shifted from corporation to the individual.
  • Social Security – it is well publicized that our social security system is running out of funds. What once was a program that retirees relied on for retirement is now on the verge of going broke. Again, this means consumers are left on their own to take care of their own retirement financial needs.
  • Taxes – taxes are getting higher while deductions are getting fewer. Income tax planning has become more of a necessity in retirement planning.
  • Inflation — The Invisible Foe
  • Healthcare – health care costs continue to skyrocket. Retirees must plan for medical
    coverage after retirement, as well as long term care coverage.
  • Investor Blunders – as the financial world gets more sophisticated, its complexity also
    multiplies. Unless one is adequately prepared for this challenge, investor blunders can decimate one’s nest egg for retirement.

While none of these challenges are new, they all seem to be happening all at once, thus creating a perfect storm for retirees. Proper understanding and adequate preparation are keys to successful retirement.