Financial Education Series

In keeping with the mission of the Women at Work Museum to promote economic independence, a series of financial education classes were developed by the Museum’s Board of Directors.  Kelly Fox, Treasurer of the Museum and a Certified Financial Planner with American Express Financial Advisors, coordinated the classes, which were designed to be valuable to adults of all ages who want to manage their savings better, have a clearer understanding of financial planning in general and who want to have a better grasp of investment terms and strategies.  All classes were presented free of charge at the Museum at 35 County St., Attleboro.

Led by Financial Experts - The classes were designed to build one upon another. The classes included: Fulfilling Your Financial Dreams & Basic Banking and Credit Use, Understanding the Terminology of Investing, The Psychology of Money, Creating a Portfolio, Smart Women Finish Rich, Retirement Planning for Women ,Social Security, Insurance and Estate Planning.  

Representatives of many leading groups, organizations and financial institutions such as Women for a Secure Retirement in Washington DC, the Social Security Administration, Franklin Templeton, Van Kampen, Fidelity Investments and GE Capital were invited to speak on areas where they have proven authority.

Kelly Fox, Treasurer of the Museum and a Certified Financial Planner with American Express Financial Advisors, coordinated the classes, which have been designed to be valuable to adults of all ages who want to manage their savings better, have a clearer understanding of financial planning in general and who want to have a better grasp of investment terms and strategies. 

The classes were free and open to the public and were funded in part by a grant given to the Museum by American Express Financial Advisors to purchase computer equipment and software for financial planning purposes. Below are the highlights form these classes.

 

March, 2004
Fulfilling Your Financial Dreams & Basic Banking and Credit Use
The first financial planning class was held on Wednesday, March 3, 2004 and covered two topics:  Fulfilling Your Financial Dreams and Basic Banking and Credit Use.  It was presented by Kelly Fox and Dondra Carvalho, Branch Manager of Fleet Bank in Attleboro.

Understanding the Terminology of Investing
This financial planning class was held on Wednesday, March 24, 2004 and focused on the vocabulary of important terms and strategies used in investing.  “Without understanding the terminology, it’s really impossible to make good investment decisions,” explains Fox.  “Having a clear understanding of the terms and strategies will allow the class participants to begin to make better choices for themselves and their families.” Classes were held on the fourth Wednesday of each month through October.

 

April, 2004 - The Psychology of Money
In this seminar, Stephanie Donaldson-Pressman, corporate consultant and author of Women, Wisdom and Wealth and Maxine Johnson, Senior Vice President of Fleet’s Private Clients Group presented a seminar on The Psychology of Money.  Integrating the areas of psychology and finance, this workshop explored the ways in which our ideas about money are formed, the beliefs and behaviors that drive the management of our money, and provided some “pain free” suggestions on how to get a better handle on our finances. 

 

May 2004
Part 1: Shaping Your Financial Future
Presented by Kelly Fox, CFP^®, Financial Advisor American Express Financial Advisors, Inc., this class covered the topics of understanding asset allocation and how to survive the volatility of the markets.

Part 2: Investment Strategies for Changing Times
The guest presenter was Mary Barrett, Vice President of Fidelity Investments. Her class covered the building blocks used in creating a portfolio, such as growth and value styles of investing as well as market capitalization and asset allocation.  “Don’t let the terminology scare you.  This is really digestible and so important to any investment decision.  This is what the terms ‘balanced and diversified’ are really all about.” explains Fox.  “Having a clear understanding of the terms and strategies will allow the class participants to begin to make better choices for themselves and their families.”

 

June 2004 - 5 Powerful Financial Strategies for Women
Presented by Greg Burrill, Regional Vice President of Investments and Kelly Fox, CFP^®, Financial Advisor, American Express Financial Advisors, Inc.  This class focused on the specific roadblocks pertaining to women and investing, such as saving for long term retirement goals.  The class included in depth discussions on several investment vehicles such as using individual stocks, bonds and mutual funds.  

 

July 2004 - Your Future Paycheck: What Women Need to Know About Money and Retirement
Cindy Hounsell, Executive Director, Women’s Institute for a Secure Retirement, Washington, DC. (WISER) presented this class which focused on the following questions facing many women today: why is retirement such a challenge for women, how Social Security works and why it is so important for women, how to find out if you or your partner may be eligible for pension benefits, the basics of how to start saving and investing, including reducing credit card debt and information about divorce and widowhood and why they are often financially devastating for women.

 

September, 2004 - Part 1: Insuring What Matters:  Protection Planning For Every Aspect of Your Life
Presented by Kelly Fox, CFP®, a financial advisor with American Express Financial Advisors.
The class on protection planning was designed as a follow up to last month’s class on Social Security.  The series of financial education classes have focused on the urgent need for financial education to improve women’s ability to save and prepare for their goals, from basic savings to retirement portfolios.

Part 2: Long Term Care, Issues and Answers
Presented by Lynn Pohl, Regional Product Specialist with General Electric Capital Assurance Company.
The class on insurances discussed the importance of evaluating what needs to be protected and the options available for preserving assets in the case of an injury, illness or a death as well as life and disability insurance strategies, and long term care issues and answers.

 

October, 2004 - Maintaining Control:  Estate Planning For All Stages of Life
The class, was presented Deborah Blum-Shore, Esq. of the Shore Law Firm in Attleboro and President of the Bristol County Estate Planning Council. The class on estate planning was designed as a follow up to last month’s class on protection planning.  Topics will included the importance of correct ownership and beneficiary designations as well as why a will isn’t the only document most people need to begin their estate plan.