Mr. Fundy’s Financial Life Skills Playbook
The Mr. Fundy’s Financial Life Skills Playbook™ will equip adults with the tools and knowledge to create a winning life and financial plan. Whether single or married, taking ownership of financial decisions is more critical than ever before. Take-home pay is often spent as quickly as the check clears, with credit cards readily available to subsidize the cash shortfall. Paying for, or paying down, a child’s college tuition expenditures adds to the financial angst. A growing number of adult-age children are actually moving back home, with no timetable to leave the “hen house”. Caring for aging parents is another huge stressor for the “sandwich generation.” Even though retirement may be decades away, the prospects for surviving financially will be a tall task for employees under the age of 55. The past 25 years has seen a dramatic shift from employer-provided defined benefits (DB) plans to employer-sponsored defined contribution (DC) plans, where more American workers than ever before are responsible for the selection and performance of retirement accounts. A large number of employers, particularly smaller firms, do not even offer retirement plans for their employees. This is quite troubling because Social Security’s gaping hole will grow wider as current retirees drain the fund, leaving a reduced, or quite possibly, non-existent benefit for future beneficiaries under the age of 45. Protecting assets through insurance, minimizing taxes, and incorporating key estate decisions are additional concerns for workers.