`No Cookie-Cutter Answers' for Retirees, Those Nearing Retirement

Elmhurst IL

19 April, 2022

11:00 AM

Description

Drawing upon his career advising retirees, a Society for Financial Awareness (SOFA) volunteer will soon bring a free, wide-ranging two-part course called "Retire with Confidence" to Elmhurst University. A Certified Financial Planner and a Master Registered Financial Consultant, Greg Kurinec is teaching the classroom course on the campus at 190 S. Prospect Ave. Students—typically 50 to 70 years old and in or nearing retirement—will learn how to pay less in taxes, manage planning risks and create a retirement income stream. The two-session curriculum will occur over consecutive Thursdays and Saturdays—people can choose either 6 p.m. to 9 p.m. on Thursday, May 5 and Thursday, May 12, or 9 a.m. to Noon on Saturday, May 7 and Saturday, May 14. (Registration details are at the end of this story.) Kurinec recently provided insight about what students could expect from the sessions. Q: Who should consider attending "Retire with Confidence"? A: The class is for anyone who wants practical, accurate knowledge, not the same old Wall Street myths to retirement planning. I take a straightforward approach to helping people think about managing the risks and opportunities that come at this crucial stage of life. People want to know how much money they need to retire comfortably, and there are no cookie-cutter answers. Q: What do you mean by `cookie-cutter'? A: One thing I hear often is that once you have a specific amount saved, you can retire without any worry. Obviously, the more you have saved, the better. But it's also about having a game plan for continued income to help sustain a retirement—whether it's Social Security benefits, a pension, or investments—or, ideally, some combination of those sources. The people I've seen the most have put their head down and done a really good job saving through their working years. They're at the point of asking, `Now, what's the next step?' Q: For someone unable to attend, what's a single piece of counsel you would offer? A: People tend to focus on their investments—their 401Ks and IRAs, but there are other aspects of financial planning that are important to having well-rounded plan. For sure, money drives the train, but that also includes having your estate planning in place, and a good grasp of where you may more financially vulnerable than you realize. That's where having proper health insurance, life insurance and proper tax planning are so crucial. Q: What's the most rewarding part of your volunteer work with SOFA? A: Generally, people who take this class have a good grasp of their financial situation. But there are moments when I can see—or hear—that they have obtained a new, vital bit of awareness. It's one of those `a-ha' moments. By the time we go through a pair of three-hour classes, people see there are so many different areas that they haven't taken into account. "Retire with Confidence" helps them to decide: Is this something I am able to tackle on my own or do I really need to seek the help of a professional? At the same time, there is absolutely no sales pitch. This is about educating the community and providing comprehensive guidance that improves people's financial literacy. Q: How did you begin volunteering with SOFA? A: Three years ago, I saw that their mission is totally in line with what we do at the firm where I have worked since 2004. It appealed to me—this opportunity to increase financial literacy with a national organization that has the same beliefs and mindset that we do. Enrollment in "Retire with Confidence" is free, though registration in advance is required. Visit https://bentron.com/retirewithconfidence-elmhurst/ or contact Rochelle Stephens at 630-505-8375 or [email protected]. Founded in 1993 with a mission to provide financial education across America, one community at a time, The Society for Financial Awareness is a not-for-profit organization composed of professionals offering informational workshops to individuals, companies, and organizations. The organization is online at https://www.sofausa.org/