Jan 24, 2017-Rotary Forum
Posted by Dick Dannells on Jan 24, 2017
PROGRAM: January 24, 2017: Pres. Greg Baker -“Your Financial Health”
Pres. Greg Baker opened the meeting at 12:37 PM with his usual this day in history: the Wham-O toy company rolled out the first batch of Frisbees on January 23, 1957; the California gold rush started on January 24, 1848; and a World War II Japanese soldier was discovered hiding out on Guam on January 24, 1972. Anya Stanley had Montisa Phelan Lopez, Linda Osty, Scott Astrosky, and Dick Dannells come forward as sponsors of Arroyo Grande Community Hospital, Welcome Home Military Heroes, The Exploration Station and Meals on Wheel, respectively, while checks were handed out as part of our Community Giving program.
ANNOUNCEMENTS:
Pres. Greg gave the following member updates: Marina Matthews is doing well and hopes to rejoin the club in February; Katcho Achadjian also will soon be returning to regular meetings; John Murphy is doing well and will join us in February to receive his honorary membership; and John Bernard is also doing well and will be returning soon. Steve Curry reported on the progress of golf committee meeting. Shannon Bowdey urged all of us to go on Facebook to add additional friends to our Rotary Facebook so we can reach our goal 1000 friends before Pres. Greg presidency comes to a conclusion. Shannon Bowdey won the raffle prize of $88.
FINES:
Fine master Mark Olson recognized Dick Dannells for his 82nd birthday on January 23 and Jeff King’s 45th wedding anniversary with Sally.
PROGRAM: Pres. Greg Baker -“Our Financial Health”
Jim Lewis introduced Pres. Greg who is the only expert he could find with sufficient expertise to lead the program on this subject. Pres. Greg began by stating no matter how young you are if you haven’t retired already, you should begin planning for it now. You want to be able to have sufficient funds to be able to travel, spend more time with your family and friends, do volunteer work and get better acquainted with your grandchildren. Picture your retirement journey by looking out for the potential obstacles such as market volatility, inflation, sufficient liquidity, the withdrawal rate, healthcare and unexpected events. Planning for your retirement is somewhat like mountain climbing; you work hard to get to the top and sometimes the dissent is more difficult than the climb. During your climb up the mountain, make smart trades on the stock market, increase your savings, manage your savings, protect your ability to earn by having adequate healthcare, and have a well thought through estate plan. As you near the top you want to enroll in Medicare and to take out Social Security starting as early as age 62 up to 70. He depicted a pyramid in which covering the essentials form the foundation of the pyramid; then a level of ensuring your lifestyle; next is preparing for the unexpected; and finally at the top of the pyramid is leaving a legacy. There are three important considerations for covering your essentials: important deadlines, income sources and stability. Ensuring your lifestyle means you want to have enough funds beyond the essentials in order for you to live the life you want to live. You should have cash to support you for 3 to 6 months. When you retire you should have at least three years’ worth of money market funds, cash, and easily convertible stocks and bonds to cash without penalty. Your investment portfolio should be well-balanced between bonds, growth stocks, etc. Prepare for the unexpected and protect what you own. In addition to Medicare you should consider having supplemental health insurance. Protect the people around you with life insurance and protect against additional risks by having property and casualty insurance. Consider how to pay for long-term care such as self-funding, family, government and insurance. The top of the pyramid is leaving a legacy for your family, friends, and charity, if you don’t it will go to the government.
THOUGHT FOR THE DAY BY KAREN ZAPPIA:
“You are never a loser until you quite trying.”
PROGRAM: January 24, 2017: Pres. Greg Baker -“Your Financial Health”
Pres. Greg Baker opened the meeting at 12:37 PM with his usual this day in history: the Wham-O toy company rolled out the first batch of Frisbees on January 23, 1957; the California gold rush started on January 24, 1848; and a World War II Japanese soldier was discovered hiding out on Guam on January 24, 1972. Anya Stanley had Montisa Phelan Lopez, Linda Osty, Scott Astrosky, and Dick Dannells come forward as sponsors of Arroyo Grande Community Hospital, Welcome Home Military Heroes, The Exploration Station and Meals on Wheel, respectively, while checks were handed out as part of our Community Giving program.
ANNOUNCEMENTS:
Pres. Greg gave the following member updates: Marina Matthews is doing well and hopes to rejoin the club in February; Katcho Achadjian also will soon be returning to regular meetings; John Murphy is doing well and will join us in February to receive his honorary membership; and John Bernard is also doing well and will be returning soon. Steve Curry reported on the progress of golf committee meeting. Shannon Bowdey urged all of us to go on Facebook to add additional friends to our Rotary Facebook so we can reach our goal 1000 friends before Pres. Greg presidency comes to a conclusion. Shannon Bowdey won the raffle prize of $88.
FINES:
Fine master Mark Olson recognized Dick Dannells for his 82nd birthday on January 23 and Jeff King’s 45th wedding anniversary with Sally.
PROGRAM: Pres. Greg Baker -“Our Financial Health”
Jim Lewis introduced Pres. Greg who is the only expert he could find with sufficient expertise to lead the program on this subject. Pres. Greg began by stating no matter how young you are if you haven’t retired already, you should begin planning for it now. You want to be able to have sufficient funds to be able to travel, spend more time with your family and friends, do volunteer work and get better acquainted with your grandchildren. Picture your retirement journey by looking out for the potential obstacles such as market volatility, inflation, sufficient liquidity, the withdrawal rate, healthcare and unexpected events. Planning for your retirement is somewhat like mountain climbing; you work hard to get to the top and sometimes the dissent is more difficult than the climb. During your climb up the mountain, make smart trades on the stock market, increase your savings, manage your savings, protect your ability to earn by having adequate healthcare, and have a well thought through estate plan. As you near the top you want to enroll in Medicare and to take out Social Security starting as early as age 62 up to 70. He depicted a pyramid in which covering the essentials form the foundation of the pyramid; then a level of ensuring your lifestyle; next is preparing for the unexpected; and finally at the top of the pyramid is leaving a legacy. There are three important considerations for covering your essentials: important deadlines, income sources and stability. Ensuring your lifestyle means you want to have enough funds beyond the essentials in order for you to live the life you want to live. You should have cash to support you for 3 to 6 months. When you retire you should have at least three years’ worth of money market funds, cash, and easily convertible stocks and bonds to cash without penalty. Your investment portfolio should be well-balanced between bonds, growth stocks, etc. Prepare for the unexpected and protect what you own. In addition to Medicare you should consider having supplemental health insurance. Protect the people around you with life insurance and protect against additional risks by having property and casualty insurance. Consider how to pay for long-term care such as self-funding, family, government and insurance. The top of the pyramid is leaving a legacy for your family, friends, and charity, if you don’t it will go to the government.
THOUGHT FOR THE DAY BY KAREN ZAPPIA:
“You are never a loser until you quite trying.”