Managing Your Finances In Different Stages of Life

• Module 1: Identifying your current financial situation
  In this module participants will gain an understanding of the fundamentals of financial planning and lay the foundation for a well-designed financial plan. Participants will be guided on how to build their own personal financial statements including budgets, cash flow statement and a balance sheet. Individuals will begin the process of setting current, intermediate and long term goals as well as define and discuss the challenges of overcoming behavioral finance.
  
  1)  General overview/introduction & credentials of instructors of the program
  2)  Discuss and create a cash flow statement
  3)  Discuss budgeting
          a.  Percentage of spending per item
          b.  Discuss national averages
  4)  Create a net worth statement
  5)  Discuss current, intermediate and long term goals
  6)  Discuss behavioral finance - emotional vs. rational decisions
  7)  Homework (as needed) - complete budgets/cash flow statement/ balance sheet
  
  Module 2: Risk Management
  This module will assist participants in identifying and reviewing the fundamentals of financial uncertainties including the sources and reasons for financial risks, increasing the participant's awareness of the overall risks associated with their financial well-being. Exploration of the key strategies to reduce and manage exposure to risk including understanding how to select the appropriate insurance will be discussed.  
  
  1)  Emergency fund
  2)  Savings vs. Investing
  3)  Credit
  4)  Risk management
          a.  Life Insurance
          b.  Disability Insurance
          c.  Long term Care
  
  Module 3:  Liability Protection & Retirement Planning
  Participants will discuss personal liability protection and the need for an additional layer of protection. Instructors will provide the fundamental working knowledge of retirement planning, projections and discuss various aspects that will assist with reaching your retirement goals.
  
  1) Personal liability protection
  2) Retirement Planning
          a.  Discuss when participants wish to retire and how the timeline affects their         overall forecasting
          b.  Provide an overview of the appropriate amount of savings
                    i.  Weekly
                    ii.  Monthly
                    iii.  Annually
  3)  Retirement savings time frame
          a.  Financial calculation comparisons
          b.  Discuss and implement typical 4% per year model
  4)  Social Security
          a.  The role will it play in your retirement
  5)  What do you already have earmarked for retirement?
          a.  Pensions
          b.  Qualified Plans
          c.  IRA's
          d.  Annuities
  
  Module 4:  Investments
  Investment opportunities are available to everyone. Following the assessment of retirement goals, participants will be introduced to the fundamental ideas of investing and review how to allocate investments to reach their goals, taking into consideration several different investing theories.
  
  1)  Investments Goal Assessment
  2)  eMoney Advisor Risk Tolerance Questionnaire
          a.  Comparing risk capacity vs. risk tolerance
  3)  How are you currently allocated vs. your risk tolerance
  4)  Ibbotson® SBBI Chart
  5)  Different theories in investing
          a.  Passive
          b.  Active
          c.  Value
          d.  Technical
  
  Module 5: Estate Planning & Taxes
  It is not enough to merely have a simple Will in place. If participants want to ensure their assets are distributed in the way they planned after their death, they must learn how to title their assets properly. By creating a firm, legally-binding estate plan and educating themselves on how to title their assets properly, individuals can feel confident about, not only their own future, but the future of beneficiaries and the assets tied to the plan.
  
  1)  Estate Planning
          a.  Discuss basic Estate Planning terms and information
          b.  Estate Planning Questionnaire (Attorney representative)
  2)  Taxes
          a.  Income in retirement vs. now
          b.  Change in tax rates at retirement
          c.  Review of current 1040/ current tax situation
  
  Module 6: Individual Consultation/Meeting
  During this one-on-one consultation session with our lead CFP professional, participants will have the opportunity to review, any questions or concepts related to their current and future financial situation and discuss the overall structure and evaluation of the completed Financial Plan.

Session 1: Module 1.1-Identifying your current financial situation (6:15-8:15 p.m.)
Session 2: Module 1.2-Identifying your current financial situation (6:15-8:15 p.m.)
Session 3: Module 2: Risk Management (6:15-8:45 p.m.)
Session 4: Module 3:  Liability Protection & Retirement Planning (6:15-8:45 p.m.)
Session 5: Module 4: Investments (6:15-9:15 p.m.)
Session 6: Module 5: Estate Planning & Taxes (6:15-9:15 p.m.)
Session 7: Module 6: Individual Consultations will be scheduled in Session 6 (30 minute increments; first come first served for timeslots)

 Rodney Jarrell, CPA, CFP®, IAR

CFP Professional, Lakeview Financial Solutions
Instructor for CFP Certificate

Rodney Jarrell, is a CERTIFIED FINANCIAL PLANNER™ professional with Lakeview Financial Solutions and has been a Certified Public Accountant since 1981. After spending many years in the financial industry where he helped hundreds of people with their life plan, he moved into the retirement and college planning industry. Rodney became interested in retirement planning when more and more of his college planning clients started asking for help with their retirement plans. With diligent analysis and research, he has helped many families navigate their way through the minefield of retirement planning.

Rodney Jarrell has both a Bachelor’s degree and a Master of Business Administration (MBA) degree from Baylor University in Waco, Texas. He has been married to his wife Janice for 39 years and has two children and one grandson. His daughter Kirsten is a Doctor of Audiology in Rowlett and his son Mark is an Integration Architect in Austin.

---

Brandon Truitt, CFP®, MS, CRPC®, MPAS®

Founder Truitt, LLC. & Instructor, Zahn Associates, Inc.
Instructor for CFP Certificate and FP&A Certification

Brandon worked at Fidelity Investments for 14 years in a variety of leadership roles focusing on workplace benefits and financial plan delivery.  During his tenure there he helped launch their executive compensation group, workplace guidance department, and was in charge of operational execution for over 300 financial planning professionals. These teams address a myriad of investment issues specializing in employee benefits like, DC plans, DB plans, company stock and option plans, employer insurance programs, and all of Fidelity’s personal investing products, accounts, and services. Brandon holds his Series 7, 9, 10, and 66 licenses as well as the CRPC®, MPAS®, and CFP® designations.

Brandon currently teaches in Dallas, but grew up in Austin, Texas. He attended McNeil High School and was recognized as a National Merit Scholar, National AP Scholar, and graduated top ten in his class. He earned his undergraduate degree studying English and Philosophy from Texas A&M University. There, he was recognized as a University Scholar and Lechner Scholar by the honor’s department. Brandon also holds a Master’s of Science in Personal Financial Planning and is currently working towards his FP&A™ designation specializing in corporate financial planning.

In his spare time Brandon is a member of the Dallas Fort Worth FPA® chapter and likes to read, write, play tennis, and work on home improvement projects. He currently teaches Zahn Live Review classes and is an adjunct faculty member for the University of Dallas CFP® Certification Professional Education Program.