Family & Consumer Sciences

Financial Security

An Extension and Outreach Initiative of Ohio State University Extension; 
The Department of Consumer Sciences  

Financial security is the ability to meet future needs while keeping pace with day-to-day obligations. Preparing for retirement and potential long-term care costs takes planning, saving, and debt control.

The goals of the 'Financial Security' initiative are to help individuals accumulate adequate savings to meet long-term financial goals and obligations and to make adequate preparation for asset distribution.

In-service on 'Tools to Teach Investment Planning'

• Agenda of the 'Tools to Teach Investment Planning' In-service (pdf file, new window) on May 9th, 2006
• 'Get Rich Slow' interactive game

  The Center for Retirement Research at Boston College developed and provides without charge Get Rich Slow - a unique interactive game that motivates women to become actively engaged in retirement planning. The Game targets the key impediments women face by providing hands-on education through a fun, non-threatening group experience.

• 'Investing For Your Future' PowerPoint presentations:
  1. Basic concepts and investing prerequisites;
  2. Equity investing;
  3. Fixed-income investing;
  4. Investing in mutual funds;
  5. Investing tax-deferred and with small dollar amounts;
  6. Getting help and avoiding investment fraud

An accompanying textbook is available online at the 'Investing For Your Future' website at Rutgers University.

• 'How to Select a Financial Advisor' by Jill Gianola, Gianola Financial Planning, LLC
• 'Planning for Retirement Spending' by Andy Keeler, Everhart Financial Group
• 'College Savings Plans' by Judy Cunningham, Ohio Tuition Trust Authority

Other information on Financial Security

Financial Security in Later Life (FSLL)
http://www.csrees.usda.gov/nea/economics/fsll/fsll.html
This Cooperative Extension initiative seeks to help people improve personal finance behaviors leading to financial security in later life, enhance the capacity of local educators and their partners to deliver effective programs, and increase economic vitality and quality of life for families and communities. This site has two parts: (1) tools for consumers looking for education and community programs and (2) tools for community educators implementing this initiative.

Women's Institute for a Secure Retirement (WISER)
http://www.wiser.heinz.org
Founded in 1996 with a grant from the Heinz Family Philanthropies, the website is devoted to providing women with the crucial skills and information they need to improve their economic circumstances and plan for a financially sound retirement. The site provides guide sheets about different aspects of retirement planning, such as 'saving and investing' or 'social security'. These publications answer basic questions in an easily understandable manner. WISER also sends out a quarterly newsletter (fee applies).

FDIC Consumer News
http://www.fdic.gov/consumers/consumer/news/cnfall05
With the average American living longer and spending more years (and more money) in retirement than ever before, senior citizens need to find ways to stretch and preserve their savings. The latest issue of FDIC Consumer News, published by the Federal Deposit Insurance Corporation, is a special edition devoted to helping seniors and their families make smart decisions about their retirement funds.

Center for Retirement Research at Boston College: Get Rich Slow
http://www.netcasters.com/cgi-bin/crr/grs_game.pl
Get Rich Slow targets the key impediments women face in planning for retirement. In the Game, women make decisions'and experience the implications of their decisions and chance events, like stock market booms and busts, job loss, and health shocks. The game provides ways for women to improve their retirement planning decisions at different life stages. They get a clear overview of the financial planning process, their unique retirement income needs, and the experience essential to feel confident in moving ahead.

Institute of Consumer Financial Education (ICFE)
http://icfe.info/
The nonprofit ICFE makes available financial information and personal finance education, credit education courses, debt management education, bankruptcy education, savings and investment information, credit repair, credit report reviews, credit counseling information and financial planning and budgeting education for all age groups.

NASD
http://apps.nasd.com/investor_Information/ea/nasd/mfetf.aspx
The NASD Mutual Fund Expense Analyzer helps brokers and investors understand the impact of fees and expenses on mutual fund and ETF returns over time. In addition to providing more detail about funds, it automatically populates expense data from a complete database of load and no-load funds, allowing users to spend less time entering data and more time evaluating the expenses.