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.
In collaboration with our CWRU Retirement Plan Partners TIAA and Vanguard, this 8-week program offers faculty and staff insights on money management and saving for life in retirement. With specific classes for new savers, women and those closer to retirement, these classes will allow participants to better employ the services and programs of our vendors.
To qualify for the Financial Wellness Program Incentive, participants must attend at least seven of these sessions or can substitute a webinar for one to two of the sessions to achieve at least seven hours of learning. Learn about TIAA August Live Webinars
In Person Classes
Thursdays, Noon to 1 PM
June 29 thru August 17
6/29 Inside Money: Managing Income and Debt
TIAA’s workshop leader will explain the big picture of budgeting:
- Importance of cash flow and how to use it
- Change how you look at saving and spending
- Understanding debt and how to manage it
7/6 Charting Your Course: A Financial Guide for Women
TIAA’s workshop leader will help participants:
- Evaluate their financial health
- Set financial goals
- Discover how to make your money work for you
- Learn how to put it all together
7/13 The Starting Line: Why and how retirement saving should begin now
By offering tools and information participants can use now, TIAA’s workshop leader will share:
- The real effect of time on money (compounding and dollar cost averaging)
- Finding extra money with smart budgeting
7/20 Money at Work 1: Foundations of investing
Smart investing starts with a solid grasp of the basics. The more you know, the better prepared you are to make informed investment decisions. TIAA’s workshop leader will highlight different types of investment options available as you make choices for your financial needs. You’ll learn about:
- Stocks, annuities, mutual funds and IRAs
- Risk and finding the level of risk that matches your goal
- Savings principles that can help you meet your financial need
(If you missed one of the classes and would like to watch a webinar, You can listen in deskside.
Inside Money – originally conducted on 6/29, will be offered as a webinar on 9/12
Charting Your Course – originally conducted on 7/6, will be offered as a webinar on 8/15
The Starting Line – originally conducted on 7/13, will be offered as a webinar on 9/14
Money at Work – originally conducted on 7/20, will be offered as a webinar on 10/10
Registration is available now through the Live Webinar Lounge: www.tiaa.org/webinars)
7/27 A Quick Start Guide for Joining Your Retirement Plan
In this session, the Vanguard workshop leader invites those new to Retirement Savings Plans to:
- Learn how and why to join one of the CWRU retirement plans
- Better understand how much to save and how to invest
8/3 Are You On Track?
Important considerations, retirement income calculator demo, and practical solutions on how to get your retirement back on track.
8/10 How to Reduce Debt, Build Wealth and Get Ahead
For those who are building up debt instead of saving for retirement, the Vanguard workshop leader will offer some behavior change techniques to:
- Help build a budget
- Encourage participants to engage with savings
- Take advantage of automated savings
- Build a home emergency fund
8/17 Vanguard’s Principles of Investing
For participants in the Vanguard plans, this meeting teaches attendees how to choose investments in their employer plan to create and maintain a diversified, low-cost investment portfolio with an appropriate level of risk. Attendees will leave with a strong understanding of Vanguard’s investment philosophy, as laid out in Vanguard’s Principles for Investing Success.
Register for JUST this class
Webinar link from TIAA
Vanguard’s webinar link
When you log in, please use your CWRU email address. Once you complete the webinar, please contact Mary Ann so that she can verify with TIAA or Vanguard.
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.
Wednesdays at NOON in the TVUC Senior Classroom
Wednesdays at 5:15 in Crawford 09A
September 6 through November 1 (note: no classes 10/4)
Registration Opens soon!
Class 1. Annuities 9/6
- Different types of annuities
- The cost of different annuities
- Pros and cons of annuities
Class 2. Reverse Mortgages 9/13
- How it works
- Who can apply?
- Pros and Cons
Class 3. Saving for College 9/20
- Coverdell Educational Savings Accounts
- State 529 Savings Plans
- UGMA and UTMA
Class 4. Health Insurance 9/27
- High Deductible Plans
Class 5. Long Term Healthcare 10/11
- Do you need it?
- Benefits and costs.
- New types of coverage.
Class 6. How Social Security Works 10/18
- How do you qualify for SSA benefits 10/25
- Different types of benefits
- How to maximize your SSA benefit.
Class 7. How to Use Credit Cards 10/25
- 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 11/1
- How Mutual Funds and ETFs work
- Different types
- Comparing Mutual Funds and ETFs
Take the Financial IQ Challenge
Between April 3-28, TIAA offered all CWRU Faculty and Staff the chance to learn more about financial planning and a shot at winning an iPad mini.
Three participants won a drawing for a free mini iPad just for participating. The winners were:
- Lisa Peters
- Shannon Butcheck
- Felicia Moss
Learn more: Financial IQ Challenge