Retirement planning

NAPFA Launches Consumer Education Series to Help Americans Better Understand Personal Financial Issues

By admin  |  2009/07/08 12:12 Posted in Financial planning, General info, Investing, Retirement planning  |  Comments (0)

The National Association of Personal Financial Advisors (NAPFA), the country’s leading professional association of Fee-Only financial advisors, is gearing up to further educate people on a variety of topics in an effort to help Americans become educated consumers of financial planning advice and products.

The Consumer Webinar Series is a year-long initiative beginning August 7, 2009 that will provide an opportunity for anyone in the country to learn about a wide range of financial issues from NAPFA-Registered Financial Advisors.  Each month a new session will be conducted live online. Consumers can attend the live session after registering for free, or listen to an audio file after the program.  The instructors NAPFA has recruited for the various sessions are among the industry’s leaders in truly comprehensive financial planning and includes members of NAPFA’s National Board of Directors, past NAPFA national chairs, educators, and authors.

“Each session is intentionally designed to help attendees better understand a specific issue and why it is of particular importance to them,” said NAPFA National Chair Diahann W. Lassus, CFP®, CPA/PFS.  “We want attendees to take something away from the sessions that helps them tackle these issues at home.  As an industry we have done a poor job of helping consumers increase their financial knowledge.  This program, along with the successes of the Your Money Bus Tour, is NAPFA’s way of doing its part.”

The series will include 12, one-hour sessions delivered via the internet.  The individual sessions will be conducted from 1 to 2 pm Eastern time and will include:

August 7, 2009 –         Money 101: Knowing the Basics

September 4, 2009 –    Kids & Money

October 2, 2009 –        What is Financial Planning?

November 6, 2009 –    Protecting What You Have

December 4, 2009 –    Investments: The Basics

January 8, 2010 –        Investments: Advanced Concepts

February 5, 2010 –      Managing Your 401(k)

March 5, 2010 –          Leaving a Legacy

April 2, 2010 -             Women and Money

May 6, 2010 -              Financial Planning and Small Business Owners

June 4, 2010 -             Your Retirement

July 1, 2010 –              Financial Windfalls

Registration for the 2009 sessions is open now.  Learn more about the Consumer Webinar Series by visiting http://www.napfa.org/consumer/ConsumerWebinarSeries.asp

In addition to registering for the sessions, consumers can learn more about the topics and the NAPFA-Registered Financial Advisors who will be instructing the sessions.

“We hope people will take advantage of this opportunity to better themselves and their families.  Only through education will consumers be better capable of addressing their own financial situations,” added Lassus.

Members of the media who would like to learn more about the Consumer Webinar Series can contact Benjamin Lewis of Perception, Inc. at 301-963-7555 or Benjamin.lewis@perceptiononline.com.

About NAPFA

Since 1983, The National Association of Personal Financial Advisors (NAPFA) has provided Fee-Only financial planners across the country with some of the strictest guidelines possible for professional competency, comprehensive financial planning, and Fee-Only compensation.  With more than 2,100 members across the country, NAPFA has become the leading professional association in the United States dedicated to the advancement of Fee-Only financial planning.

For more information on NAPFA, please visit www.napfa.org.

Do Not Stop Funding Your 401(k)!

By admin  |  2009/06/22 11:57 Posted in Financial planning, Investing, My soap box, Retirement planning  |  Comments (0)

Regardless of what’s going on in the economy and the stock market, do not stop funding your 401(k) accounts!

Most workers with 401(k) plans have viewed their retirement savings as having trickled away with the current stock market plunge.  In addition, 25% of US employers have or are planning to eliminate 401(k) matching contributions as a way to make it through these difficult economic times.

87% of those polled felt the companies matching feature was an important motivation for them to contribute to their 401(k).  Without the match, there’s less motivation to contribute.

These two facts have prompted some individuals to stop contributing to their 401(k), which is exactly the opposite of what they should do.

Income in retirement comes from Social Security, (which has some significant issues going forward), pension income (which most come is no longer offer) and from resources saved during one’s working years (401(k), IRA, Roth IRA Sep IRA etc.)

The 401(k) is a great way to accumulate retirement dollars because;

1.     The deposits a comes right out of the check and is deposited automatically,

2.     There is usually a good choice of investment types

3.     It is easy to administer

4.     You save current income tax.

Now is a crucial time to make sure that your investments within your 401(k) are appropriate for your risk tolerance, you risk capacity and your goals including timeframe.  Once you make sure you have the right allocation continue funding your 401(k) so that you’re more likely to have the retirement you envision.