Class 1:  EARLY YEARS INTRO – Talking to Young People about Money

• Think of it as a skill set, not a judgment of where you are.
• Discussion – What introduction to money did you have in childhood? How did it shape your adult viewpoint?
• Are people “better” because they appear “rich”? How we often judge a book by its cover.
• Why is financial education so important – getting comfortable talking about money
• BIRTH – establishing a social security number
• Savings Bonds – different types, and why they make good baby gifts
• Getting on the same page with your co-parent
• 529 College Savings Plans – what are they? and what are the benefits?
• Age 5-9 – setting up a bank account, establishing allowances, teaching the art of priorities. Visiting a Bank and about interest
• Age 11-13 Introducing to Budgeting and Planning for the longer horizon – Concept of Buy-Save-Gift.
• Age-14 -18 Understanding the engine is employment, Career Choices have Significant Financial Impact, Understanding Labor regulations including Salary vs Hourly Compensation, What is Overtime.
• HOMEWORK AFTER SESSION #1  relates to Budgeting/ Cash Forecasting

CLASS # 2 – COLLEGE YEARS – A Step Towards Independence

• The Perils of Borrowing (Credit Cards) and Understanding Minimum Required Payments and Compound Interest
• Understanding Credit Scores and the factors that will impact a Score
• Understand Student loans – Subsidized vs. Unsubsidized – what is forbearance
• What is Forbearance
• Balance – Should you have a Gap Year? What would you do with it?
• Getting your first job – Negotiations &  employment benefits
• HOMEWORK AFTER SESSION #2 – Prepare a personal financial statement

CLASS # 3 ADULTHOOD – Building and Protecting Your Wealth

• Knowing Yourself and Knowing your Partner’s Attitude Towards Money
• Life Plans: Discussing Priorities and Establishing A Five-Year Plan
• Prenuptial agreements
• Finances (co-mingled, separate, or hybrid ) and
• How to Handle Gifts/Loans – Given or received from non-spousal Family
• What is decided in a divorce, and what is not (child support and custody, alimony, division of assets)
• Attorney Retainers
• Case Information Statement (CIS)
• Mediation

CLASS # 4 – PREPARATION FOR RETIREMENT – including Social Security, and Withdrawals from Retirement Accounts

• Budgeting for retirement years, consideration of changes in expenses, re-evaluation of housing costs, anticipating medical expenses
• Understanding Social Security benefits and the factors which should influence when you start collecting
• What is an IRA or 401k RMD = Required Minimum Distribution
• Difference between a Traditional and a ROTH retirement plan
• How are Inherited IRA’s different from a Retirement Plan you established for yourself

CLASS # 5 END OF LIFE CHALLENGES – Death and Taxes

• How to Organize your affairs in advance as a gift to your heirs.
• Who will handle your affairs?
• Which prevails for distributing assets of a 401K plan, your Will or the 401K Beneficiary form?
• What key items should be mentioned in a Will?
• What does an Executor do? Will your Executor be compensated?
• Do you need a Trust? What does a Trustee do?
• How to protect minor children or special needs beneficiaries.
• Will your heirs have to pay Estate Taxes (federal and state)? Inheritance Laws, Gifting restrictions
• Review of tax filing 706 form
• Change of 401K beneficiaries (required signoff when assets don’t go to spouse)

… and if there is time

INSURANCE

• Life insurance – Term vs. Whole Life/Universal.