Personal finance is critically important and unfortunately complicated.
For most of us, the lives we want demand a working knowledge of key aspects like
saving and investing, budgeting and planning, and credit and debt management.
Currently, we’re falling short.
The Symptoms
77% of Americans report being anxious about their financial situation, almost two-
thirds are living paycheck-to-paycheck, and carry an average of $6,000 in credit
card debt.
The Problem
Financial literacy training/advice is commonly delivered by the provider of the
financial product or service. For example, our employees learn about retirement
planning from a representative of our 401(k) provider.
You wouldn’t take diet advice from a McDonalds employee (please don’t do that),
and while that’s an extreme example, you get the idea.
People Need Help
People need more help than they’re getting. It’s our belief that there’s value in an
independent perspective. We know that providing employees with a comfortable
environment where they can learn, ask and get their questions answered, is really
important.
When someone asks a specific question about money, it’s because they’re looking
for an answer. We believe they should get one, not some vague response.
Our approach:
We deliver complicated information in an everyday and easy-to-understand manner. In service of helping employees achieve financial security, we’ve developed a series of workshops.
Financial Wellbeing Series
1 - Be Your Own CFO: A Businesslike Approach to Your Personal Finances
Being your own CFO means running your financial life like a business. Two-thirds of
Americans are living paycheck-to-paycheck, and the majority are burdened by
consumer debt. By applying the best practices of a CFO, we can find financial
security and get on the path to prosperity.
Learning objectives:
Learn the 5 key financial strategies CFOs rely on and how to apply them in
your life.
Learn the 5 step process for determining and setting your most important
financial goals and priorities.
Learn the specific questions to ask to identify and eliminate limiting
financial beliefs and the 5 step process to replace them with beneficial
habits.
2 - Understanding Budgeting, Cash Flow, Credit, and Debt Management
Understand your current cash flow, develop and maintain a personal budget, be a
good steward of your credit, and avoid credit card debt.
In this webinar you will:
Create a practical budget and a plan for maintaining it
Get a handle on your current cash flow
Understand the key drivers behind credit scores and how to improve yours
Develop a plan for getting out and staying out of credit card debt
3 - Saving and Investing
Get comfortable saving and investing money. Becoming a personal investor means
understanding the various types of investments, learning about the different
accounts you can utilize, setting goals, and putting a plan in place.
In this talk you will learn:
How to create an appropriate emergency fund
How to determine your risk tolerance and asset allocation
How to set time and tax-appropriate goals
How to put a plan in place in order to reach those goals
4 - Estate Planning
Understand the process of Estate Planning, who should be doing it, and when to
get started. Estate planning is the preparation and completion of tasks required to
manage one's assets during incapacitation or at death.
In this talk you will learn:
Who should be thinking about and doing estate planning
What are the essential components of an estate plan are
When you should get started with this process
Who can help you ensure its successful completion
5 - Get on the Same $ Page with Your Partner
Financial success is challenging for individuals and puts even more pressure for
couples. Each of us has a history, perspective, and our own beliefs about money. The
key to long-term financial bliss in a relationship is to establish transparent
communication, and ensure everyone feels heard and understood.
In this talk, you will:
Learn how to do a deep dive into your history with money and your finances
Learn how to get a clear picture of your current money situation and know-
how
Learn how to work together to map out your desired financial future with your
partner
6 - Ready for Retirement
Learn how to successfully accumulate enough assets during your working years so
you have sufficient income during your retirement years. Being ready for retirement
means understanding how much to save, where to invest, how to design income
that will last as long as you need it to, as well as clarify how you'll spend your
retirement years.
In this talk you will learn:
How much income you'll need when you retire
How much do you need to be saving today
What vehicles you'll use to create your retirement income
How you will spend your time once you're retired
Additional option for parents
Kids and Money
This workshop is designed to help parents teach their kids positive money habits.
Raising financially responsible children is a priority for parents, but knowing where
and when to start can be a mystery - a lot like raising kids in general.
In this webinar you will learn:
How to teach your children positive money habits like saving, spending and
giving
How to set a great example and demonstrate successful financial behaviors
How to implement practical and sustainable weekly activities
How to teach your children to set financial goals
Additional options that primarily impact people living in the U.S.
Understanding Taxes
Understand the different taxes Americans pay and how they apply to our individual
situations. Understanding taxes means learning about what tax revenue pays for,
how our system works and if and when we are subject to the different types of taxes.
In this talk you will learn:
The history of our tax system
How income, capital gains, sales, property, and estate taxes work
How our progressive tax system work
How to calculate and understand your tax liability
The Right Coverages
Understand insurance coverages and how they fit into your financial life. Insurance
plays an essential role in your finance function, yet too few people understand policy
types and the proper amount of coverage to own.
In this talk you will learn:
The different types of life insurance and how to determine the right coverage
amount
How to evaluate disability insurance
The right time and method for addressing long-term care needs
How to know if you have the right property and casualty insurance
It’s essential to make this content as fun and entertaining as possible. The goal is to get employees as fully engaged as possible. The idea is to help people get good with money so they can get out of credit card debt, stop living paycheck-to-paycheck, and be less anxious.
There’s a business and human case for this. Everyone wants employees engaged at work, and at home. Financial security and peace of mind can help make that desire a reality.
Written By: George Grombacher
George is a financial wellness advisor, podcaster and speaker, working to help people get better at money so they can live how they want. Read More...
Check out George's Money Alignment Academy HERE!
Contact us today to schedule one or more of these sessions to support your employee's financial wellbeing!
FitPros is a turn-key wellness provider empowering people to take charge of their personal health.
Contact FitPros to diversify your company’s wellbeing offerings and help employees meet their health & fitness goals.
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