Midlothian, VA. 804.378.2527

Lifelong Learning Chesterfield


Economics and Finance - Spring 2017                   

 

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                                               

Friday                                  EF171125            

11:30-12:30                        

Jan 6

Instructor(s): Mimi Devenney Holt and 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.

                                ______________________________


Global Events and the Economy                                              

Wednesday                                      EF171109            

2:00-3:30                             

Jan 11, March 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. This class will be split into two sessions.

                                ______________________________


Unlock Your IRA                                              

Tuesday                                              EF171006            

9:00-10:30                          

Jan 17

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 101: Mechanics, Costs and Considerations                                 

Friday                                  EF171122            

1:00-2:30                             

Feb 3

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.

                                ______________________________


Tips for Avoiding Identity Theft                                               

Wednesday                                      EF171117            

1:00-2:00                             

Feb 8

Instructor(s): Mimi Devenney Holt and 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.

                                ______________________________


Regulations and Retirement: Labor Regulations and Your Retirement Account                                 

Wednesday                                      EF171127            

2:00-3:00                             

Feb 8

Instructor(s): Ian Patrick

In Summer 2016, the Department of Labor issued a 1,000 page document (also called the "fiduciary rule") that made sweeping changes to how financial advisors such as insurance agents and investment brokers are allowed to handle individual retirement accounts. This class will cover what individuals should know in order to be an informed investor. We will define terms such as "fiduciary" and "best interest contract", review the 5 options that employees have for their 401k or other employer-provided retirement accounts, talk about the different ways you can manage your retirement account, and answer any other questions the students have on the topic. The instructor will have about 30 minutes of prepared remarks and allow 30 minutes for questions.

                                ______________________________


Death and Taxes…The Only Certainties in Life?                                

Thursday                                            EF171012            

2:00-3:30                             

Feb 16

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

Are you interested in paying less tax today and from your estate? Are you aware that what might be tax-efficient for you is not necessarily true for your heirs? How you handle your tax and estate planning becomes part of your legacy. Join us to learn strategies that address these and other important tax and estate planning concerns.

                                ______________________________


Medicare 101                                   

Wednesday                                      EF171113            

11:30-1:00                          

Feb 22

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!

                                ______________________________


Reverse Mortgages 102:  Applications in Retirement Planning                                  

Friday                                  EF171123            

1:00-2:30                             

March 3

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 beneficial but not required.

                                ______________________________


Drive Away Happy                                         

Wednesday                                      EF171119            

9:00-10:00                          

March 8

Instructor(s): Mimi Devenney Holt and 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.

                                ______________________________


Medicare Fraud Series                                 

Wednesday                                      EF171126            

10:00-11:00                        

March 15, 22, 29

Instructor(s): Nancy M. Boyer

It is estimated that Medicare loses approximately sixty billion dollars per year to fraud, errors, and abuse. The Medicare Fraud Series will teach Medicare beneficiaries, their families and caregivers how to prevent, detect, and report healthcare fraud. This 3-part series will discuss the basics of Medicare fraud, durable medical equipment, and medical identity theft. Note: Class is not intended to help you enroll in Medicare or determine which Medicare plan is best for you. This class is brought to you by the Virginia SMP Program, with support from the U.S. Administration for Community Living.

                                ______________________________


Estate and Long-Term Care Planning: the Important Issues                                         

Thursday                                            EF171115            

10:00-11:00                        

March 23

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.

                                ______________________________


Estate Settlement and the Probate Process                                       

Tuesday                                              EF171104            

9:00-11:00                          

March 28

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.

                                ______________________________


Home Seller Seminar                                   

Tuesday                                              EF171116            

11:30-12:30                        

April 4

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.

                                ______________________________


Organizing Your Financial Records                                          

Wednesday                                      EF171118            

1:00-2:00                             

April 5

Instructor(s): Mimi Devenney Holt and 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.

                                ______________________________


Reverse Mortgages 103: Use to Finance a Home Purchase                                          

Friday                                  EF171124            

1:00-2:30                             

April 7

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 in order not to have 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.

                                ______________________________


The Psychology of Smart Investing                                         

Tuesday                                              EF171018            

9:00-10:30                          

April 18

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!

                                ______________________________