Are Your Finances on Track to Last a Lifetime? By Robin Trimingham

Are Your Finances on Track to Last a Lifetime? By Robin Trimingham

Last week The Olderhood Group held its first financial planning and investment education workshop in partnership with Butterfield Bank in Bermuda.

The “Money Matters” workshop, which is the first of its kind, is designed to make financial literacy and investment education accessible to a wide cross section of island residents.

Thanks to the generosity of Butterfield Bank, registrants attend free. The workshop is conducted by Olderhood CEO Bill Storie and Butterfield Asset Management VP of Investor Services, Shane English.

The educational portion of the workshop, is divided into three sections to reflect the three major shifts in financial planning that typically change as we get older:

Budgeting for the present and saving for the future as a young employee
Financial Planning for mid-career workers to maximize their income in later life,
Lastly, efficient management of income and expenses in retirement to insure that your money lasts to the end of your life.
The investment awareness section which highlights concepts such as risk tolerance and portfolio diversification strategies for the low-to-high portfolio value ranges.

The timing of this new initiative coincides with increasing concerns both in Bermuda and North America that those approaching retirement do not feel they are well-prepared to care for themselves financially once they stop working, or that they have sufficient money saved to provide for their needs yet also leave inheritance funds for their family.

A 2018 Planning & Progress Study released today in the US by Northwestern Mutual echoes this concern stating that “nearly eight in 10 (78%) Americans are "extremely" or "somewhat" concerned about affording a comfortable retirement while two thirds believe there is “some likelihood of outliving retirement savings;” and yet amazingly 46% of the participants in the study also admitted that they aren’t taking any steps to remedy their situation.

Although a reliable statistic of this nature is not currently available in Bermuda, there is no doubt that advances in medicine and healthcare are extending the lives of island residents (particularly for women), making it increasingly important to learn how to budget effectively and management money wisely for the future.

The next Money Matters financial planning and investment education workshop will be held on Thursday June 14th from 5:30 – 7:30 pm at Butterfield Bank in Bermuda. Seats are limited and registration is required. Click here to register now.

And for our international audience we promise to produce video webinars for your viewing pleasure !!

By Robin Trimingham

Bill Storie and Robin Trimingham are the co-founders of The Olderhood Group Ltd., an online learning company with + 100,000 global followers in over 100 countries. The Leaders in Action video series, produced by Olderhood Productions International (part of The Olderhood Group) features short video interviews with recognized Leaders in multi-national companies, global organizations, and renowned experts in various locations around the world including London, Los Angeles, Mumbai, Singapore, New Delhi, and many others. The Series is published on Olderhood’s social media pages, The Royal Gazette, LinkedIn and through its several Partnership Networks globally to millions of viewers around the world. The Olderhood Group provides life transition, financial literacy and retirement lifestyle planning, education, and training for corporations in the form of videos, podcasts and webinars. The consulting practice focuses on helping companies augment their employee benefits programs, and their customer outreach initiatives, by seamlessly integrating customized workshops, in-house training, and online learning opportunities into their existing platforms.