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Avoiding Boomer Bust: Effective Life Planning for American Baby Boomers

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Course Description

This course sketches a profile of Americans born from 1946 through 1964: baby boomers. It explores the possible financial shortfalls boomers may encounter, the causes of the boomers dilemma, the approaches to prevent financial, emotional, and personal trauma, and the creative strategies devised to address these issues. The Planning Resources at the end of each chapter offer helpful websites and other sources of information.

Learning Objectives

Chapter 1 Reasons to Plan Upon completing this chapter, you will be able to: Consider the educational, financial, and emotional aspects of the typical boomer in their planning for a productive and stable second half of life; Understand the changes to the concept of careers and lifestyle brought about by womens entrance and ascension in the American workforce; Plan for the revised needs and priorities of boomers as they prepare for the second half of life; and Anticipate the changes to the workplace, market, and service sector instituted by the surge of older Americans in our culture. Chapter 2 Boomers Impending Financial Squeeze Upon completing this chapter, you will be able to: Act to correct bad savings habits; Analyze how the higher retirement age for full Social Security benefits and less secure retirement plan benefits affect the success of boomers retirement; Factor in housing prices and costs and expected healthcare costs in calculating retirement financial needs; and Anticipate how the countrys national debt and annual budget deficit, paired with boomers growing personal debt, may put retirement security at risk. Chapter 3 Decisions, Decisions Upon completing this chapter, you will be able to: Compare housing options to accommodate boomers as they age; Contrast the advantages of entrepreneurship, second careers, and volunteerism against the traditional full retirement economics and lifestyle; Understand the regulations for and tax consequences of benefit payouts from retirement plans; Initiate estate planning and select options to maximize asset protection; and Distinguish among supplemental health plans and prepare for a trusted individual to act according to the patients wishes during a health crisis.

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Learning Format 3.0 Hours
Self-Study / On-Demand

Credit Type(s)
Management Advisory

Knowledge Level
Overview