Success StoryRoad to Retirement



Road to Retirement

Author: Joan Bowling

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

According to the “Kentucky by the Numbers “website, the baby boomer population in the state of Kentucky will reach 800,000 by 2020.  As the “boomers” head into retirement the need for resources and education regarding this life stage has increased. In response to address some of the concerns being raised by clientele, Boone and Kenton County Family and Consumer Sciences Agents collaborated to teach a 4 hour retirement workshop in November held at the Boone County Enrichment Center. The workshop topics included:  Homeowners, Auto and Umbrella Insurance, a Review; Current Scams and Fraud, What to do; Medicare for Today; Investing Basics and Retirement Reminders and Considerations.  The special guests included representatives from Medicare, The Roeding Insurance Group, a financial advisor, and the Kentucky Office of Consumer Protection with the Attorney General’s Office. Of the 40 participants, 22 returned the follow up written mailed survey.  As a result of attending the program: 54 %  shared what they learned with an aging family member or adult child totaling 41 individuals; 68% reviewed their insurance coverage with their insurance agent; 36% changed their coverage and 5 participants reported a savings averaging $273 per year.  That total does not include the FCS agent who had not shopped insurance in 20 years.  She personally increased her home owner insurance policy and was still able to save $3200 per year.  Other results of the workshop include: 77 % developed a plan/budget for their retirement years or revised one they already had.  73% took steps to better protect their identity.  Future programs on retirement and aging continue to be a focal point of programs in the upcoming Plan of Work as the demand for education continues.






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