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  1. Transitions 3 F E Presented By: Foundation for Financial Education www.f3eonline.org | sharon@f3eonline.org | 240-499-0390

  2. Outline • Reasons for career/job transition? • Placement Resources • Can I or When can I retire? • Understanding your retirement plans and what are they worth • 401(k)/TSP Rollovers • Lining up your benefits/insurance options • Choosing new benefits • Take control of your finances

  3. Notes

  4. Reasons for career/job transition?? • Downsizing/layoffs • Career growth potential • Back to school • Children and family • Elder care

  5. Notes

  6. Placement Resources • Resume building • Marketing Assistance • Tax Advice • Tax Strategy • Tax Sheltering

  7. Notes

  8. Can I or when can I retire? • Early buyouts • Full income picture • Inflation and taxes • Social Security & Medicare

  9. Notes

  10. Understanding your retirements plans and what they are worth • 401 (k), 403 B, 457, 412 TSP • Vesting & Matches • Accessing money (loans and withdrawals) • Pensions and Annuities

  11. Notes

  12. 401 (k) Rollover Leave at past employer VS. Pros • Wide array of choices • Self-direct • Roth convert • Can’t control plan changes Cons • Lose loan options • Can’t roll into new employer plan • Lose stock purchase/options

  13. Notes

  14. Lining up your benefits/insurance options • Health Insurance • COBRA • Individual • Life, Disability & Long Term Care • Cash out sick & vacation time • Own your own benefits

  15. Notes

  16. Choosing new benefits (weighing the options) • Picking beneficiaries • Knowing cost vs. benefit • Open Season • Qualifying events

  17. Take control of your Finances • Velocity of money • W=M x R x T • Taxes and LOC • Exit Strategy • Macro Management