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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

FINANCIAL PLANNING IN YOUR FUTURE

A SEMINAR PRESENTED BY

DR. AA NEIDERMEYER

seminar topics
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
initiation of a pfp perspective
INITIATION OF A PFP PERSPECTIVE
  • ATTITUDE TOWARD MONEY
  • WILLINGNESS TO ASSUME RISK
  • AWARENESS OF YOUR PERSONAL SITUATION
  • WILLINGNESS TO ACTIVELY MANAGE YOUR ALTERNATIVES
development of a planning base
DEVELOPMENT OF A PLANNING BASE
  • ESTABLISHMENT OF A PERSONAL BUDGET: ACTUAL / IMPLICIT
  • DETERMINATION OF PERSONAL BALANCE SHEET
  • DOCUMENTATION OF THE ABOVE IN WRITTEN FORMAT
establish goals
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
representative goals
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
protection against
PROTECTION AGAINST
  • PREMATURE DEATH
  • DISABILITY
  • MEDICAL CARE
  • PROPERTY LIABILITY
  • UNEMPLOYMENT
protection against premature death
PROTECTION AGAINST PREMATURE DEATH
  • PERSONAL HEALTH AWARENESS
  • INSURANCE
  • ENTITLEMENT PROGRAMS
  • BUY-SELL AGREEMENTS
  • PENSION BENEFITS
protection against disab ility
PROTECTION AGAINST DISAB ILITY
  • EMPLOYER-PROVIDED POLICIES
  • SELF-PROVIDED POLICIES
  • POLICY CONSIDERATIONS: DEFINITION OF DISABILITY WAITING PERIOD BENEFIT PERIOD
protection against medical expenses
PROTECTION AGAINST MEDICAL EXPENSES
  • EMPLOYER-PROVIDED BASIC AND MAJOR MEDICAL POLICIES
  • PARTICIPATION IN WELLNESS PROGRAMS
  • AWARENESS OF THE STOP-LOSS PROVISION OF EXISTING POLICIES
protection against property losses liability
PROTECTION AGAINST PROPERTY LOSSES / LIABILITY
  • RISKS: -OWNERSHIP -RENTALS -HIRING -CONTRACTS -VOLUNTEER ACTIVITIES
protection from losses
PROTECTION FROM LOSSES
  • COORDINATION OF LIABILITY COVERAGE UNDER EXISTING INSURANCE POLICIES
  • UMBRELLA LIABILITY POLICY
  • RESTRICT INVOLVEMENT
protection against unemployment
PROTECTION AGAINST UNEMPLOYMENT
  • DIVERSIFICATION OF EMPLOYMENT BACKGROUND
  • CREATE / EXPLOIT A NICHE
  • NETWORK
  • CONTINUOUSLY ENGAGE IN SELF-IMPROVEMENT ACTIVITIES
accumulation for
ACCUMULATION FOR
  • AN EMERGENCY FUND
  • FAMILY PURPOSES
  • RETIREMENT
  • ????
accumulation modes
ACCUMULATION MODES
  • REGULAR BANK VEHICLES
  • FIXED - DOLLAR INVESTMENTS
  • VARIABLE - DOLLAR INVESTMENTS
  • COMMODITIES
  • COLLECTIBLES
  • MATTRESS
fixed dollar investments
FIXED-DOLLAR INVESTMENTS
  • CERTIFICATES OF DEPOSIT
  • CERTIFICATES OF DEPOSIT
  • PREFERRED STOCK
  • BONDS
variable dollar investments
VARIABLE - DOLLAR INVESTMENTS
  • MUTUAL FUNDS
  • COMMON STOCK
  • REAL ESTATE
  • ANNUITIES
  • COMMODITIES
tax planning techniques
TAX PLANNING TECHNIQUES
  • CONSIDER THE TAX CONSEQUENCES OF EACH INVOLVEMENT
  • TRY TO MAINTAIN OPEN - FACT TAX SITUATIONS
  • LOOK FOR AVAILABLE EXCLUSIONS / DEDUCTIONS
the three y s
THE THREE Y’S
  • YOUR OUTLOOK
  • YOU LOOK AT OTHERS
  • YOU LOOK AT YOURSELF
retirement pressures
RETIREMENT PRESSURES
  • FINANCIAL
  • BOREDOM
  • LACK OF COMMUNICATION
  • HEALTH
  • THREAT OF THE UNKNOWN
retirement timing
RETIREMENT TIMING
  • EARLY
  • MANDATORY
  • VOLUNTARY
  • FLEXIBLE
steps to an active retirement
STEPS TO AN ACTIVE RETIREMENT
  • RECREATION
  • HOBBIES
  • TRAVEL
  • RELAXING
  • SOCIALIZING
  • PROPER FINANCING
retirement financing
RETIREMENT FINANCING
  • ESTABLISH YOUR NEEDS EARLY
  • FUND YOUR ANTICIPATED NEEDS
  • PACE YOUR ENJOYMENT OF EACH OF THE ABOVE
estate planning principles
ESTATE PLANNING PRINCIPLES
  • STIPULATE WHO WILL RECEIVE WHAT
  • WORK TO REDUCE TRANSFER COSTS
  • PROVIDE NECESSARY LIQUIDITY FOR THE ESTATE
  • DECIDE WHO WILL ADMINISTER
key planning vehicles
KEY PLANNING VEHICLES
  • DRAFT / EXECUTE A WILL
  • EXECUTE A POWER OF ATTORNEY
  • EXECUTE A LIVING WILL
  • EXECUTE A PRE-PLANNED FUNERAL ARRANGEMENT
required follow up
REQUIRED FOLLOW-UP
  • IMPLEMENT YOUR CHOSEN PLANNING TECHNIQUES
  • MONITOR PERIODICALLY TO ASSURE MOVEMENT TOWARD CHOSEN ENDS