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RETIREMENT PLANNING

Learn how to prepare yourself for a comfortable future.

A egg in a nest representing savings for the

Topics featured in this playlist: (click for more information)

2 screenshots from the mPOWER module, Retirement101: Plan your retirement abd the importance of time.

7 MINUTES
With all of life’s expenses, it is easy to put retirement planning on the back burner. In fact, a GoBankingRates survey revealed that 56% of Americans have less than $10,000 saved for retirement. Whether or not you are actively saving for retirement, it’s never too late to develop or refine your savings strategy. Take our Retirement Savings course to learn helpful tips, including how to:

  • Identify your retirement savings goals
  • Determine how much you will need to save for retirement
  • Define the importance of time – compounding interest
  • Define diversification
  • Identify and differentiate between common retirement plan options
  • Identify and differentiate between common investment vehicles: Define Low, Medium, and High-Risk Portfolios
  • Review and manage retirement savings progress to align with goal

2 screenshots from the mPOWER module, Estate Planning: a blueprint of an estate plan and images of estate planning related steps

3 MINUTES
No matter how big or small, everyone has an estate, and it’s important to protect it. Estate planning can seem overwhelming, but it doesn’t have to be. Get the facts on the planning process, documents involved and resources available to assist you, including how to:

  • Explain the importance of an Estate Plan
  • Define the documents and processes commonly involved in Estate Planning: Wills, Power of Attorney, Living Will/Health Care Proxy, Trust
  • Identify experts who can help design and implement an Estate Plan

2 screenshots from the mPOWER module, Social Security: a wonam planning her benefit collection options and what to consider when deciding benefits

3 MINUTES
Do you know where your income will come from after you retire? Social Security benefits can be a key source of money for retirees. Take our Social Security lesson to learn how you can prepare yourself for a comfortable future:

  • Define Full Retirement Age
  • Identify the pros and cons of collecting benefits before, at, and after your Full Retirement Age
  • Evaluate other factors to consider when deciding when to collect benefits: overall health, marital status, employment, etc.
  • List steps to implement when you’d like to start collecting benefits

2 screenshots from the mPOWER module, mPOWER: Insurance Costs and What insurance might you need?

5 MINUTES
Life is unpredictable. An insurance plan is a key element of any financial strategy to ensure that your assets are protected. There are various types of insurance plans, and it is important to understand the features and benefits of each type. Learn how to evaluate your plan with our short learning course that covers how to:

  • Identify the role of insurance in mitigating risk across several areas of your life
  • List different types of insurance
  • Define co-pay, premium, and deductible
  • Calculate common out-of-pocket insurance expenses

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