Midlothian, VA. 804.378.2527

Lifelong Learning Chesterfield


Economics and Finance - Spring 2018   

 

Lifelong Learning Institute in Chesterfield                        

                                                                                      Not an LLI member? Join here now. It's easy! 

How to Read Your Credit Report and Understand Credit Scores                                               

Tuesday                                              EF181125            

9:30-10:30                          

Jan 9

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.

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Medicare 101: Navigating the Medicare Maze                                  

Tuesday                                              EF181113            

11:00-12:30                        

Jan 23

Instructor(s): Kendalle Stock

This class will provide information on the following: high level overview of Medicare, how and when to enroll in Medicare, understanding the “lingo”, Medicare options, what Medigap (Medicare Supplement) policies cover, and gaps that exist in Medicare and how to cover those gaps. Whether you’ve been enrolled 1 day or 40 years, or if you haven’t received that lovely red, white and blue card in the mail yet, you will walk away from this class with valuable information. Bring paper and pen to take notes!

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Unlock Your IRA                                              

Tuesday                                              EF181006            

2:00-3:30                             

Jan 30

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.

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Tips for Avoiding Identity Theft                                               

Monday                                              EF181117            

10:00-11:00                        

Feb 5

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.

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Reverse Mortgages 101: Mechanics, Costs and Considerations                                 

Friday                                  EF181122            

12:00-1:30                          

Feb 16

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.

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Home Seller Seminar                                   

Tuesday                                              EF181116            

9:00-10:30                          

Feb 20

Instructor(s): Mimi Devenney Holt and Sylvia Watford

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.

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Investor Alert:  Bond Buyers Beware                                     

Tuesday                                              EF181100            

9:00-10:30                          

Feb 27

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

Learn how to identify and manage the potential risks associated with bond and fixed-income investments. Topics include: identifying the potential risks associated with bond and fixed-income investments, how rising interest rates affect bond and fixed income portfolios and strategies to help mitigate these risks.

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Drive Away Happy                                         

Monday                                              EF181119            

9:30-10:30                          

March 5

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.

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Estate Settlement and the Probate Process                                       

Tuesday                                              EF181104            

9:30-11:30                          

March 13

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.

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Fraud Awareness and Prevention                                           

Wednesday                                      EF181121            

9:30-11:30                          

March 21

Instructor(s): Russ Lescault

Senior Americans lose an estimated thirty-six billion dollars each year to fraud. Studies reveal that fraudulent telemarketers, scammers, and conmen direct anywhere from 56% to nearly 80% of their attempts at older customers. Unfortunately, only 1 in 5 cases of criminal fraud against seniors is reported. Education and vigilance are key to prevent fraud. This class will outline the top Senior Citizens frauds and scams being used by criminals today, such as IRS scares, precious metal swindles, contractor cons, internet scams and others, as well as steps on how to protect yourself and those you love.

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Reverse Mortgages 102:  Applications in Retirement Planning                                  

Friday                                  EF181123            

12:00-1:30                          

March 23

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 101: Mechanics, Costs and Considerations class would be beneficial but is not required.

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After Your Last Paycheck: Will I Outlive My Nest Egg?                                  

Wednesday                                      EF181102            

9:00-10:30                          

March 28

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

Has recent stock market volatility changed your retirement plans? How long might your portfolio sustain your current lifestyle? There is plenty of information about how to save for retirement but little information about how, once you are retired, to draw upon your investments to provide your desired retirement income and maintain your current lifestyle. This class will reveal the common financial pitfalls encountered by many retirees and learn techniques to avoid those mistakes.

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Organizing Your Financial Records                                          

Tuesday                                              EF181118            

9:00-10:00                          

April 10

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.

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Reverse Mortgages 103: Use to Finance a Home Purchase                                          

Thursday                                            EF181124            

2:00-3:30                             

April 19

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. Attendance at Reverse Mortgages 101: Mechanics, Costs and Considerations class would be beneficial but is not required.

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Estate and Long-Term Care Planning: the Important Issues                                         

Friday                                  EF181115            

10:30-11:30                        

April 20

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.

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