Business & Finance   

One of the most challenging financial aspects of retirement, especially for people who have been diligent savers throughout their working years, is taking required minimum distributions (RMDs) from their tax-deferred retirement savings accounts (e.g., 401(k)s/403(b)s, TSP, SEP, Traditional IRA) beginning at age 72. RMDs can have a significant impact on a retiree’s income tax liability. New RMD tables went into effect in 2022. This workshop will discuss basic facts about RMDs, the new IRS life expectancy tables, tax implications, tax withholding for RMDs, tax penalties for incorrect RMDs, ways to reduce the tax impact of RMDs, and options for using money that is withdrawn from tax-deferred retirement savings accounts.

Many older couples avoid talking about “the elephant in the room;” i.e., death and widowhood. In some situations, one spouse “handles the bills” and the other knows little about family finances. As couples get older, the likelihood of widowhood increases. However, many surviving spouses are unprepared for financial challenges that lie ahead. This class will discuss steps that couples can take to prepare financially for the inevitable first death and steps to take afterward. Topics to be covered include financial record-keeping, estate tax portability, communication about finances and changes in income and income taxes.

The late New York City mayor Ed Koch was known for his trademark query "How am I doing?" as he asked people for feedback on his progress at the helm of America's largest city. Some people feel the same way about their finances and are looking for personalized assessments of their strengths and weaknesses and/or comparisons to other people in similar circumstances as themselves. This class will discuss 25 resources, techniques, and metrics to assess clients’ individual/household financial health. It covers a wide variety of personal finance topics that are linked together because they are all associated with some type of financial progress assessment or measurement of financial health. 

Gain a solid foundation in investing and discover potential strategies to effectively build wealth in this comprehensive course. Delve into the fundamental concepts of investing, equipping yourself with essential knowledge to make informed financial decisions.

Explore the crucial aspects of retirement planning as we discuss 10 essential rules and valuable tips to construct a robust retirement plan. Broad categories including stocks, bonds, mutual funds, and life insurance will be examined in detail, highlighting their significance in creating a well-rounded retirement strategy.

Join us on this educational journey and unlock the keys to wealth accumulation and a secure retirement future. Enroll today and take the first step towards financial empowerment.

Risk mitigation is an important concept for retirees to consider. The goal is to be able to weather various life events without suffering major adverse effects. Retirees face a number of risks that need to be planned for including longevity risk (i.e., an unknown life expectancy), market risk, sequence of return risk, and a variety of potential spending shocks including rising health care costs, long-term care needs, inflation, death of a spouse, "gray divorce," unexpected family responsibilities, and frailty. This class will cover these topics and more.

Every year, new trends, events, financial products, and government policies and legislation affect our personal finances. This presentation will recap 2022 through a personal finance “lens” by reporting noteworthy personal finance news items and their implication for personal financial planning. The session will also include results of important 2022 research studies about financial topics and a preview of announced changes related to income and estate taxes and Social Security for 2023.