Success StoryOn the Road to Retirement



On the Road to Retirement

Author: Kathy Byrnes

Planning Unit: Kenton County CES

Major Program: Securing Financial Stability (general)

Plan of Work: Securing Financial Stability, Estate Planning, Real Skills for Everyday Life

Outcome: Intermediate Outcome

     

In the national study, “Graying of U.S. Bankruptcy: Fallout from Life in a Risk Society,” Americans age 65 and older are filing for bankruptcy in record numbers.  These older adults are often trying to assist their children and grandchildren with higher education and other costs.  In addition, with many more seniors raising grandchildren, finances can take a beating. This trend is expected to continue, resulting in senior citizens facing financial crisis with even stronger urgency.

            In an effort to assist seniors with making wise decisions in their retirement years, and to avoid bankruptcy and other financial problems, the Kenton and Boone County Family and Consumer Sciences Extension Agents held the seminar, “On the Road to Retirement: Protecting Your Money”.   This 4 hour seminar included guest experts from the Kentucky Attorney General’s office, a local Medicare expert, a local insurance office team, as well as a local financial planner.  

40 men and women attended this program, and in a post program evaluation, reported the following:   As a result of attending the workshop:
- 97% were more alert to scams and strategies to avoid them
-94% reported better understanding of their Medicare options,
-74% planned to talk to their insurance agent to review current coverage and the possible need for an umbrella policy
-65% planned to discuss their finances with a financial expert, or to develop their own post-retirement budget.
A follow up survey was sent three months after the program, revealing that
-86% now “stop and verify” questionable calls, mailings, or emails
-77% discussed current or common scams with approximately 100 additional people.
-77% developed or revised a budget plan for retirement years
 -73% took steps to better protect their identity



  






Stories by Kathy Byrnes


Food Preservation

about 5 years ago by Kathy Byrnes

According to Penn State Extension, increased interest in eating locally grown produce has led to ren... Read More


Freezing and Drying your Bounty

about 5 years ago by Kathy Byrnes

According to PLOS One, a peer-reviewed science publication, nearly one pound of food per person is w... Read More


Stories by Kenton County CES


Kenton CES connects local community to University of Kentucky resources

Kenton CES connects local community to University of Kentucky resources

about 5 years ago by Diane Kelley

Kenton Cooperative Extension implemented a program survey for county residents in the fall of 2018 a... Read More


Natural Resources are important

Natural Resources are important

about 5 years ago by Diane Kelley

Kenton County Cooperative Extension surveyed teachers in 3 Kenton County school districts at the end... Read More


Stories by Securing Financial Stability (general)


Money Mondays Video Web-series Promotes Good Money Habits

Money Mondays Video Web-series Promotes Good Money Habits

about 5 years ago by LaToya Drake

Many individuals in the Barren County community appear to be struggling financially. Community & Eco... Read More


Adulting workshops to assist teens in gaining life skills

about 5 years ago by Nellie Buchanan

The life of the high school senior is full of “adult” decisions: selecting a college, picking a majo... Read More