Financial Framework Seminar SeriesSM

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Session 6
Emergency Fund/Retirement

This session is how to build short term and long term savings. Both are requirements to build a secure financial house. We will begin the series with the definition of an emergency, which is a sudden crisis requiring action, an unexpected and sudden event that must be dealt with urgently. The purpose of an emergency fund is to provide a “cushion” against unforeseen events and minor financial problems that can occur without notice. Many different circumstances could bring a negative financial impact on the family and its budget – unemployment, medical bills, car problems, and many others. An adequate Emergency Fund, which is covered in your Blueprint, should contain a minimum of at least three months fixed expenses, with the ultimate goal being six months worth of fixed expenses. We will discuss why having an emergency fund is important, define your current emergency fund needs, the types of funds that are available to build an emergency fund and what discipline is necessary to maintain your emergency fund.

The next part of this session is about Retirement. Retirement is defined as leaving a job or career; the time that follows the end of somebody’s working life. How does debt impact retirement?

How much money will you need to retire? At what age will you be financially able to retire?

In this session we look at your numbers in your Blueprint and will discuss your current retirement status, and what you need to do in order to retire when you want with the financial income you desire. When the session is completed you should be able to answer the above questions and find the tools to be on your way to a more financially secure retirement.

Session 7
Wills/ Leaving a Legacy

This session is about Wills and leaving a Legacy. A will is a legal document that states a person’s wishes regarding the transfer of separately-owned property at death, the care of dependents, and the administration of the estate. If an individual dies without a valid will, called intestacy, the laws of the state in which they reside will dictate who gets their property, raises their children, and who will settle the estate. A recent study concluded that 40 percent of the people dying with estates to administer do not have a will. In this session we will discuss: the importance of having a will, having updated and accurate family documents, understanding your homeowners insurance policy, having an accurate household inventory listing, the importance of knowing and maintaining your credit, the importance of tracking your social security information, and knowing what types of documents or family information are considered Vital Family Records, and much more.

Next, let's talk about Children and Finance

 

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