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University Wellness

Financial Well-being

Financial Well-being

Financial Well-being

Participating in a multi-session program to learn more about financial management and/or healthcare consumerism will meet the participation guidelines for this incentive. 

Why is this Important?

Financial health is an important component of well-being. Research supports a link between financial savings and healthy lifestyle habits as well as an association between better health and less health care expense.  Taking an active role in managing finances is associated with less stress, increased feelings of security, and greater financial confidence.  Gallup studies have found that financial security has a more significant impact than does income alone on employee well-being.


Take the Financial IQ Challenge

Between April 3-28, TIAA offers all CWRU Faculty and Staff the chance to learn more about financial planning and a shot at winning an iPad mini.

Just log onto the TIAA Financial IQ Challenge website and create an account. Each mini challenge is just five questions, then every day of the Challnege five new questions are added. Every time you play, you are automatically entered for a chance to win an iPad Mini.

This challenge is open to everyone, even those who are not investing with TIAA. So increase your odds and take every quiz!

Learn more: Financial IQ ChallengeFinancial IQ Challenge


On-site Classes

1. Financial Wellness 101

Learn how to implement a sound investment strategy may help reduce financial stress and strengthen preparation for retirement. Series is led by William Mahnic, Assoc Professor of Banking and Finance at Weatherhead.

Look for another round of classes in the Fall of 2017

Topics

Class 1. How Much Should I Save?

Class 2. Investing for Retirement - Part 1

  •      Risk
  •      Stocks, Bonds, and Cash
  •      Mutual Funds and ETFs
  •      Take the First Step
  •      What’s Best for Me?

Class 3. Investing for Retirement - Part 2

  •      Actively Managed vs. Passive Management.
  •      Building a Portfolio
  •      Balanced Funds and Target Date Retirement Funds.
  •      Take the First Step
  •      e. What’s Best for Me?

Class 4. Life Insurance and Disability Insurance

  •      Different Types of Life Insurance
  •      What’s Best for Me?
  •      Disability Insurance
  •      What’s Best for Me?

Class 5. Property, Casualty and Liability Insurance

  •      Protecting Your Wealth with Insurance.
  •      How to Avoid “Over” and “Under” insuring your property.
  •      Personal Liability Insurance.

Class 6. Your Credit Score

Class 7. Should you Buy or Lease Your Car

Class 8. The Smart Way to Pay Off Debt

  •      Home Mortgages
  •      Student Loans
  •      Credit Card Debt

2. Financial Wellness 201

In this advanced class, William Mahnic, Assoc Professor of Banking and Finance at Weatherhead will offer a deeper dive into many of your personal finance questions.

Look for another round of classes in the Fall of 2017

Class 1. Annuities

  • Different types of annuities
  • The cost of different annuities
  • Pros and cons of annuities

Class 2. Reverse Mortgages

  • How it works
  • Who can apply?
  • Pros and Cons

 

Class 3. Saving for College

  • Coverdell Educational Savings Accounts
  • State 529 Savings Plans
  • UGMA and UTMA

Class 4. Health Insurance

  • PPO
  • HMO
  • High Deductible Plans

Class 5. Long Term Healthcare

  • Do you need it?
  • Benefits and costs.
  • New types of coverage.

Class 6. How Social Security Works

  • How do you qualify for SSA benefits
  • Different types of benefits
  • How to maximize your SSA benefit.

Class 7. How to Use Credit Cards

  • Mechanics, cost and benefits.
  • Are Reward Cards Worth the Annual Fee?
  • What to do if you get into trouble.
  • How to establish credit for your children.

Class 8. Mutual Funds and ETFs

  • How Mutual Funds and ETFs work
  • Different types
  • Costs
  • Comparing Mutual Funds and ETFs