MC006 Course Objectives

Avoiding Boomer Bust: Effective Life Planning For American Baby Boomers

Learning Objectives :

Chapter 1
REASONS TO PLAN

After studying 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 women’s 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

After studying 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 country’s national debt and annual budget deficit, paired with boomers’ growing personal debt, may put retirement security at risk.

Chapter 3
DECISIONS, DECISIONS

After studying 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 patient’s wishes during a health crisis.