Midlothian, VA. 804.378.2527

Lifelong Learning Chesterfield

Economics and Finance - Fall 2017                   


Lifelong Learning Institute in Chesterfield                        

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Reverse Mortgages 101: Mechanics, Costs and Considerations                              

Thursday                                       EF173122          


Sept 7

Instructor(s): Jim Warns

In this class you will learn how the federally-insured Home Equity Conversion Mortgage (HECM) program actually works. You will also learn how it has been changed recently to further protect borrowers and enhance its rapidly expanding role in improving the retirement prospects of senior homeowners. Both the advantages and disadvantages of using a reverse mortgage as a financial tool to age in your own home will be discussed. The presentation is not a “sales pitch” for any particular loan program or lender, and the class will be interactive with questions being encouraged. The class will consist of a 60 minute presentation followed by 30 minutes of additional Q&A, as necessary.


Home Seller Seminar                                 

Tuesday                                         EF173116          


Sept 12

Instructor(s): Mimi Devenney Holt

Wondering how to get the best price for your home in the shortest amount of time? Participants will learn about the home selling process with a Virginia Credit Union representative who will offer practical tips and share common pitfalls to avoid when selling a house.


Medicare Part D: Shopping for the Best Plan for You                                  

Wednesday                                   EF173113          


Sept 13

Instructor(s): Kendalle Stock

During Fall Open Enrollment, your Part D plan needs to be re-examined. Your drugs may have changed, the insurance company formulary may have changed, the participation of your drug store may have changed. What may have been the best plan for you last year may NOT be the best for this year. The government has provided a great tool to help Medicare beneficiaries find the best plan---but it can be confusing. This course is designed to show you how to make sure you are getting the best bang for your buck. Bring paper and pen to take notes!


Unlock Your IRA                                          

Tuesday                                         EF173006          


Oct 3

Instructor(s): James E. Davidson, Jr., CFP®

Do you own a Traditional, Roth or inherited IRA? Do you understand the IRS distribution options and requirements? Do you have a strategy in place specifically for handling your IRA? Join us to learn how to avoid the pitfalls and unlock the full potential of IRA’s.


Reverse Mortgages 102:  Applications in Retirement Planning                                

Thursday                                       EF173123          


Oct 12

Instructor(s): Jim Warns

Reverse mortgages have been known for years as a financial strategy of "last resort". Recent Ph.D. level academic studies have shown that the highest and best use of the program is to improve, not rescue, a retirement plan. A reduction in closing costs has further increased the use of the reverse mortgage by financial advisors as a pro-active planning tool. This course will review some of those studies as well as recent changes by HUD in the program itself which actually LIMIT its usefulness as a "last resort" while enhancing its benefits for meeting the challenge of financing today's longer retirements. Students are encouraged to bring their questions to the session.  Attendance at Reverse Mortgages: Mechanics, Costs and Considerations class would be beneficial but is not required.


Estate Settlement and the Probate Process                                   

Tuesday                                         EF173104          


Oct 17

Instructor(s): Mark Mikuta, CPA, CFP

Most folks are familiar with estate planning; and while many have heard of the probate process, few really understand the nuts and bolts of the process. What are the steps in the Probate Process? What if there is no will? What does the Executor or the Administrator do? The presentation includes time for questions.


Tips for Avoiding Identity Theft                             

Wednesday                                   EF173117          


Oct 18

Instructor(s): Sylvia Watford

A Virginia Credit Union representative will offer practical tips for guarding against identity theft. Participants will learn how to minimize their risk and what to do if they should ever become a victim.


Organizing Your Financial Records                                      

Tuesday                                         EF173118          


Oct 31

Instructor(s): Sylvia Watford

A Virginia Credit Union representative will share the benefits of keeping your personal financial records organized and offer practical recommendations on what records to keep, what to keep handy in the event of a natural disaster and tips on how to take a home inventory.


Global Events and the Economy                                          

Wednesday                                   EF173109          


Nov 1

Instructor(s): Ian Patrick

In this class, we take a look at things that are going on around the world and how they impact our lives and the economy, today and into the future. We look at demographic trends, such as an aging population, obesity, and immigration around the world. We talk about events like "Brexit", global trade deals like the "TPP", new technology like robotics, renewable energy, and social media. We might even talk about clean water, food scarcity, and its impact on terrorism. Usually the main topics are driven by current events and news, and then we tie it all back into what is happening in the financial markets (stocks, bonds, gold, oil, etc.), and how it may impact the economy going forward.


Estate and Long-Term Care Planning: the Important Issues                                    

Wednesday                                   EF173115          


Nov 15

Instructor(s): Paula Peaden

An experienced estate and elder law attorney will review the advantages of a living trust over a will, durable powers of attorney, and advance medical directives. The federal and state estate tax system will be explained. Students will also learn how to plan for potential long term care and how the current Medicaid system works. The course will also educate students on how to plan for any children who have special needs and how to plan an estate that does not leave a legacy of hate among family members. Questions will be welcome.


Drive Away Happy                                      

Monday                                         EF173119          


Nov 20

Instructor(s): Sylvia Watford

A Virginia Credit Union representative will offer advice on how to make smart car-buying decisions and give tips on negotiating the purchase of a new or used car.


The Psychology of Smart Investing                                     

Wednesday                                   EF173018          


Nov 29

Instructor(s): James E. Davidson, Jr., CFP®

We are hard-wired to be poor investors… emotional beings who tend to avoid pain and seek pleasure. Being aware of our innate biases and tendencies is an important step toward avoiding them. Gain deeper insight into the world of investing, and learn how to avoid common mistakes by joining us to discuss these and other issues in our open-dialogue and Q&A format. No investment experience necessary!


Senior Scams and Financial Exploitation                                          

Thursday                                       EF173106          


Dec 7

Instructor(s): James E. Davidson, Jr., CFP®

According to the Consumer Financial Protection Bureau “Elder financial exploitation has been called the crime of the 21st century… robbing victims of their resources, dignity and quality of life… and they may never recover from it”. Join us to examine real-life case studies and learn more about risk factors, detection, prevention and how to better protect yourself and others from this type of mistreatment.


How to Read Your Credit Report and Understand Credit Scores                            

Friday                               EF173125          


Dec 8

Instructor(s): Sylvia Watford

Learn how to access a free copy of your credit report and the importance of reviewing and understanding the report. The components of a sample credit report will be provided and discussed. Also, students will learn how to build, manage and maintain a great credit score.


Reverse Mortgages 103: Use to Finance a Home Purchase                                      

Thursday                                       EF173124          


Dec 14

Instructor(s): Jim Warns

In this class you will learn how one can use the "HECM for Purchase" program to buy a home while conserving cash and still having no mortgage payment.  One no longer has to pay all cash to avoid a mortgage payment.  This financing technique can allow one to sell their home for less and still have the necessary cash to buy their desired new home; to sell their home and "move up" to a significantly more expensive home or better neighborhood; or to have the money to add options to a newly constructed home or renovate/redecorate an existing new home without exceeding their original budget.  If you are considering purchasing a new home in the future, you should be aware of this financing alternative and how it works.