On Oct. 8th, retirement expert begins three-part series at Triton College
If your retirement picture isn't coming into focus -- or if you are concerned about what you do see -- then you are a prime candidate to enroll in an upcoming three-part series from a renowned retirement expert.
Starting on Saturday, Oct. 8, retirement and finance expert Dr. Jim Flanagan begins the series with "Healthcare in Retirement." The three-hour session begins at 9 a.m. at Triton College in River Grove.
A Triton adjunct professor, Flanagan has made the class open to the public, along with two related classes on subsequent Saturdays, Oct. 15 and Oct. 2: "Affording Retirement" and "Financial Management in Retirement."
The fee for each class is $20, along with a $7 registration, with all material provided on the day of the class. To register, call (708) 456-0300, ext. 3500. Each class can be taken independently of the others; students are not required to attend all three.
"It's common for people to feel overwhelmed by all the factors to take into account at this time of their life," said Flanagan. "There's no previous practice in trying to gauge the right time to transition into your golden post-employment phase of life."
Flanagan, founder of Downers Grove-based Bentron Financial Group, will cover the changing landscape of retirement in each of the three classes.
"Healthcare in Retirement" on Oct. 8, will help attendees navigate the complexities of Medicare Parts A & B, Medicare Supplements, Medicare Part D prescription drug coverage, Medicaid and Long-Term Care insurance. Flanagan will ease the intimidation factor of these health care options by educating students on the basics of each insurance plan.
Flanagan acknowledged that the details are so numerous that "people can get discouraged quickly" about their prospect of making sense of it all.
"As complicated as all of the options are, as daunting a task as it can be, if you break it into pieces, it becomes very manageable," Flanagan said. "That's what my session will do."
In "Affording Retirement," the following Saturday on Oct. 15, Flanagan will outline the current and likely future changes in retirement and then advise attendees on how to take control of them. Students will emerge with a better knowledge of how to create a comfortable, virtually stress-free retirement experience.
In "Financial Management in Retirement," on Oct. 22, he will address how saving and investing near or during retirement is dramatically different from any other type of financial concern. For example, income, less risk and lower volatility in investments all become necessary components, yet too few people adjust their portfolios to align with these changing needs.
Against the backdrop of the Great Recession that struck in 2008, as well as the economic tumult during the pandemic era, it has become more crucial than ever before for retirees to maximize their fixed income, he noted.
The "Financial Management in Retirement" class will provide an in-depth look at various savings vehicles and investment products. Flanagan will teach attendees how to analyze income potential, risk and liquidity of various investment products. He will also advise students on tax favored retirement accounts such as IRA's, 401(k) plans and Roth IRAs.
"I'm giving tools for a new and different retirement than any generation has ever experienced before," Flanagan said. "This type of education hasn't existed in the mainstream before."
For over 30 years, Flanagan has provided financial guidance to people at or near retirement. Over that time, he has become a nationally recognized expert on financial issues impacting older adults and late-life transitions.
He formed Bentron in 2001. Over the past 15 years, he has served on the Oak Park/River Forest Township Senior Services Committee and in 2011, he founded the Celebrating Seniors Coalition, a not-for-profit organization that provides seniors with emergency services and raises public awareness of issues affecting seniors in Oak Park, River Forest and Forest Park.
Flanagan is a member of Illinois FAST (Financial Abuse Strike Team), a multidisciplinary unit of financial, legal, law enforcement and adult service providers that intervenes to safeguard older adults from financial abuse and exploitation.
He is also the author of "Packing for Retirement: A Practical Guide to Prepare for Retirement at Any Age." The book offers a comprehensive overview of the myriad facets of retirement planning. In addition, Flanagan has attained certification as a Master Registered Financial Consultant, a distinction that reflects integrity and transparency in business and is achieved by fewer than one percent of financial professionals.
Flanagan's firm, Bentron Financial Group, is online at www.bentron.com.
Celebrating Seniors is online at www.celebratingseniors.net.