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FINANCIAL PLANNING IN YOUR FUTURE

FINANCIAL PLANNING IN YOUR FUTURE. A SEMINAR PRESENTED BY DR. AA NEIDERMEYER. INITIATE A PFP PERSPECTIVE DEVELOP A PLANNING BASE ESTABLISH A SEQUENCE OF GOALS PROTECTION. ACCUMULATION FOR ???? TAX PLANNING RETIREMENT PLANNING ESTATE PLANNING ACTION !!!!.

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FINANCIAL PLANNING IN YOUR FUTURE

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  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

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