EXTENSION REPORT

Catch Up Strategies for Late Savers

Take the Road to Financial Security in Later Life was an article that was offered to the Public through the Alabama Cooperative Extension System of Alabama in the spring of 2006 and today we are following up with information regarding classes that will be held soon. The first class will be presented on July 13, 2006 at the Daphne Public Library located on Highway 98 from ten a.m. until noon and a second class from six p.m. until eight p.m. that will cover the catch up strategies for later savers who want to take the road to financial security in later life. The Guidebook and Catch-Up Strategies for Late Savers class will begin with a discussion of the types of late savers and how much money is needed to retire comfortably.  Two important motivational messages to impart to learners are encouragement and optimism.  Despite gloomy predictions in media reports, most late savers still have time on their side and several viable catch-up options.   The five key variables in retirement savings to make calculations, and tax law incentives that encourage saving for retirement will also be discussed. The class is designed to offer helpful information for those who have procrastinated for some time and are now ready to make some changes in their financial future.

The class discussion will include the nine strategies to increase the amount of retirement savings and six strategies to stretch retirement income.  The advantages and trade-offs of each retirement catch-up strategy will be covered and are also included in the Guidebook which will be available to those attending. The class concludes with a discussion of four special retirement catch-up considerations and resources for late savers.  Learners are also provided with 14 worksheets with which to make personalized catch-up retirement plans.

Women are encouraged to attend one of these class sessions because society continues to paint a bleak picture when it comes to financial management for women. Regardless of marital status, economic status, race, age, or geographical location, financial education is a wake up call for all especially females. As women, we cannot afford to sit back and wait for our knight in shining armor to support us. We must start planning for a successful retirement and become comfortable talking about money. Women must also start teaching their children how to be money smart. Resources and information are available and all it takes is a more proactive spirit and a willingness to invest time for your financial future. To register to attend one of the sessions, please call 251-574-8445.   

Pressure Canner Testing

Canning season is here and it is time to check your canner seals and gauges. It is critical to safe food preservation that your canner is in proper working condition. Pressure gauge testing is available at the Gulf Coast Regional Extension and Research Center in Fairhope on July 6th between 1:00 and 4:00 p.m. Bring your lid and gauge with you. Or give our office a call to set up another time to test your canner. This service is free of charge. Contact Amelia McGrew at 251-574-8445.

Email address: aoutlaw@aces.edu
Phone: 937-7176 or 943-5611, 928-0860, ext. 2222

Issued in furtherance of Cooperative Extension work in agriculture and home economics, Acts of May 8 and June 30, 1914, and other related acts, in cooperation with the U.S. Department of Agriculture. The Alabama Cooperative Extension System (Alabama A&M University and Auburn University) offers educational programs, materials, and equal opportunity employment to all people without regard to race, color, national origin, religion, sex, age, veteran status, or disability.