FINANCIAL PLANNING IN YOUR FUTURE

1. FINANCIAL PLANNING IN YOUR FUTURE A SEMINAR PRESENTED BY DR. AA NEIDERMEYER

2. INITIATE A PFP PERSPECTIVE DEVELOP A PLANNING BASE ESTABLISH A SEQUENCE OF GOALS PROTECTION ACCUMULATION FOR ???? TAX PLANNING RETIREMENT PLANNING ESTATE PLANNING ACTION !!!! SEMINAR TOPICS

3. INITIATION OF A PFP PERSPECTIVE • ATTITUDE TOWARD MONEY • WILLINGNESS TO ASSUME RISK • AWARENESS OF YOUR PERSONAL SITUATION • WILLINGNESS TO ACTIVELY MANAGE YOUR ALTERNATIVES

4. DEVELOPMENT OF A PLANNING BASE • ESTABLISHMENT OF A PERSONAL BUDGET: ACTUAL / IMPLICIT • DETERMINATION OF PERSONAL BALANCE SHEET • DOCUMENTATION OF THE ABOVE IN WRITTEN FORMAT

5. ESTABLISH GOALS • GOALS SHOULD BE BOTH TIME-BASED AND QUANTIFIED IN DOLLAR TERMS (IF POSSIBLE) • GOALS SHOULD BE ACHIEVABLE • BENCHMARKS SHOULD BE UTILIZED TO MEASURE PROGRESS

6. REPRESENTATIVE GOALS • $4,000 FOR A VACATION NEXT SUMMER • PAYOFF CHARGE CARD DEBT WITHIN 12 MONTHS • ESTABLISH A 2 MONTH EMERGENCY FUND WITHIN 18 MONTHS • RETIRE A MILLIONAIRE AT AGE 55

7. PROTECTION AGAINST • PREMATURE DEATH • DISABILITY • MEDICAL CARE • PROPERTY LIABILITY • UNEMPLOYMENT

8. PROTECTION AGAINST PREMATURE DEATH • PERSONAL HEALTH AWARENESS • INSURANCE • ENTITLEMENT PROGRAMS • BUY-SELL AGREEMENTS • PENSION BENEFITS

9. PROTECTION AGAINST DISAB ILITY • EMPLOYER-PROVIDED POLICIES • SELF-PROVIDED POLICIES • POLICY CONSIDERATIONS: DEFINITION OF DISABILITY WAITING PERIOD BENEFIT PERIOD

10. PROTECTION AGAINST MEDICAL EXPENSES • EMPLOYER-PROVIDED BASIC AND MAJOR MEDICAL POLICIES • PARTICIPATION IN WELLNESS PROGRAMS • AWARENESS OF THE STOP-LOSS PROVISION OF EXISTING POLICIES

11. PROTECTION AGAINST PROPERTY LOSSES / LIABILITY • RISKS: -OWNERSHIP -RENTALS -HIRING -CONTRACTS -VOLUNTEER ACTIVITIES

12. PROTECTION FROM LOSSES • COORDINATION OF LIABILITY COVERAGE UNDER EXISTING INSURANCE POLICIES • UMBRELLA LIABILITY POLICY • RESTRICT INVOLVEMENT

13. PROTECTION AGAINST UNEMPLOYMENT • DIVERSIFICATION OF EMPLOYMENT BACKGROUND • CREATE / EXPLOIT A NICHE • NETWORK • CONTINUOUSLY ENGAGE IN SELF-IMPROVEMENT ACTIVITIES

14. ACCUMULATION

15. ACCUMULATION FOR • AN EMERGENCY FUND • FAMILY PURPOSES • RETIREMENT • ????

16. ACCUMULATION MODES • REGULAR BANK VEHICLES • FIXED - DOLLAR INVESTMENTS • VARIABLE - DOLLAR INVESTMENTS • COMMODITIES • COLLECTIBLES • MATTRESS

17. FIXED-DOLLAR INVESTMENTS • CERTIFICATES OF DEPOSIT • CERTIFICATES OF DEPOSIT • PREFERRED STOCK • BONDS

18. VARIABLE - DOLLAR INVESTMENTS • MUTUAL FUNDS • COMMON STOCK • REAL ESTATE • ANNUITIES • COMMODITIES

19. TAX PLANNING

20. TAX PLANNING TECHNIQUES • CONSIDER THE TAX CONSEQUENCES OF EACH INVOLVEMENT • TRY TO MAINTAIN OPEN - FACT TAX SITUATIONS • LOOK FOR AVAILABLE EXCLUSIONS / DEDUCTIONS

21. RETIREMENT PLANNING

22. THE THREE Y’S • YOUR OUTLOOK • YOU LOOK AT OTHERS • YOU LOOK AT YOURSELF

23. RETIREMENT PRESSURES • FINANCIAL • BOREDOM • LACK OF COMMUNICATION • HEALTH • THREAT OF THE UNKNOWN

24. RETIREMENT TIMING • EARLY • MANDATORY • VOLUNTARY • FLEXIBLE

25. STEPS TO AN ACTIVE RETIREMENT • RECREATION • HOBBIES • TRAVEL • RELAXING • SOCIALIZING • PROPER FINANCING

26. RETIREMENT FINANCING • ESTABLISH YOUR NEEDS EARLY • FUND YOUR ANTICIPATED NEEDS • PACE YOUR ENJOYMENT OF EACH OF THE ABOVE

27. ESTATE PLANNING

28. ESTATE PLANNING PRINCIPLES • STIPULATE WHO WILL RECEIVE WHAT • WORK TO REDUCE TRANSFER COSTS • PROVIDE NECESSARY LIQUIDITY FOR THE ESTATE • DECIDE WHO WILL ADMINISTER

29. KEY PLANNING VEHICLES • DRAFT / EXECUTE A WILL • EXECUTE A POWER OF ATTORNEY • EXECUTE A LIVING WILL • EXECUTE A PRE-PLANNED FUNERAL ARRANGEMENT

30. ACTION

31. REQUIRED FOLLOW-UP • IMPLEMENT YOUR CHOSEN PLANNING TECHNIQUES • MONITOR PERIODICALLY TO ASSURE MOVEMENT TOWARD CHOSEN ENDS