October 7th, 14th & 21st: Finance & Retirement Expert Leads Saturday Classes for the Public at Triton College
For youngsters, school will soon be back in session-and the same is true for older adults who want to get a firm grip on the financial ins and outs of retirement.
On three consecutive Saturdays-October 7th, October 14th and October 21st-a retirement and finance expert will be leading classes at Triton College in River Grove that provide a blueprint for this golden post-employment phase of life.
Each of the three-hour classes starts at 9 a.m. Designed by longtime Triton adjunct professor Jim Flanagan, the classes are, in order, "Affording Retirement," "Healthcare in Retirement," and "Financial Management in Retirement."
The sessions are open to the public, and registration remains open until the session begins. To register, contact Triton College at 708-456-0300, extension 3500. Material will be provided on the day of the class, and is included in the $20 tuition. There is also a $7 registration fee.
In each of the three classes, Flanagan, founder of Downers Grove-based Bentron Financial Group, will cover the changing landscape of retirement.
In "Affording Retirement" on October 7th, Flanagan will guide attendees through several self-evaluation exercises that help reveal their readiness for retirement. Thereafter, attendees will be introduced to 10 critical questions that every retiree must answer before embarking on a successful retirement.
Those in attendance will discuss the basic need for an estate and/or a financial plan. Flanagan will then walk attendees through an estate analysis questionnaire and provide an example of a balance sheet.
In "Healthcare in Retirement", on October 14th, he will help attendees navigate the complexities of Medicare Parts A&B, Medicare Supplements, Medicare Part D prescription drug coverage, Medicaid and Long-Term Care insurance.
Flanagan will ease the intimidation factor of these health-care options by educating students on the basics of each insurance plan.
Flanagan acknowledged that the details are so numerous that "people can get discouraged quickly" about their prospect of making sense of it all.
"As complicated as all the options are, if you break it into pieces, it becomes very manageable," Flanagan said. "That's what my session will do."
In the final class October 21st, "Financial Management in Retirement", he will outline proactive steps that people can take to wisely steward their funds.
Flanagan will teach attendees the nuances of retirement accumulation and distribution planning. His course will review all types of qualified retirement plans, IRAs and distribution rules.
In addition, the session will touch on managing taxation in retirement and include a discussion of risk management as attendees evaluate risks to their life, health and property. Flanagan will wrap up discussion with an explanation of the most common investments used by retirees.
People are living so much longer than ever before. For example, those in their 60s, Flanagan said, should anticipate living another 30 years.
"That is a huge factor in any money management decisions," said Flanagan. "This isn't your mom or dad's retirement, and it's certainly not your grandparents' fleeting few golden years."
For nearly 30 years, Flanagan has provided financial guidance to people at or near retirement. Over that time, he has become a nationally recognized expert on financial issues that affect seniors.
The father of three, he is a strong proponent of community service, particularly on behalf of senior citizens. In 2005, he joined the Oak Park and River Forest Township Senior Services Committee, for which he has served as chairman since 2008. And in 2010, Flanagan founded the Celebrating Seniors Coalition, a not-for-profit organization dedicated to celebrating, educating and protecting older adults in Forest Park, Oak Park and River Forest.
Flanagan is also a member of Illinois FAST (Financial Abuse Strike Team), a multidisciplinary unit of financial, legal, law enforcement and adult service providers that intervenes to safeguard older adults from financial abuse and exploitation.
Flanagan's company, Bentron Financial Group, is online at www.bentron.com. Celebrating Seniors is online at www.celebratingseniors.net.
As noted above, the classes are open to the public, and registration remains open until each session begins. To register, contact Triton College at 708-456-0300, extension 3500. Material will be provided on the day of the class, and is included in the $20 tuition. There is also a $7 registration fee.