AIFG 101 -- The New Science of Wealth Span Planning
This course introduces the Wealth Span model of accumulation and expenditures, for professionals working with mature clients and their families. Students will understand the differences among Population Aging, Individual Aging and Family Aging, and how these have combined to create middle age as a new financial and psychological stage of the life cycle. The course shows how increasing longevity is changing the financial relationships between elderly parents and their middle-aged "kids" - shaping such financial tasks as planning for long term care. It demonstrates how the Accumulation Stage and the Expenditure Stage of the wealth span have become more complex over the past 50 years, and how these new complexities affect financial planning. Finally, the course analyzes the primary reasons middle-aged and older consumers cite for not using the services of financial planners, and the gerontological and financial responses to this situation.
Instructor: Neal E. Cutler, Ph.D., holds the Boettner/Gregg Chair in Financial Gerontology at Widener University, where he holds a joint appointment as Professor in the School of Human Service Professions and in the School of Business Administration.
AIFG 103 - Serving the Older Client: Values, Ethics, and Lifespan Development
To most effectively serve the older client, financial decisions in later life must be made in the context of the broader range of choices that are part of lifespan development. The workshop course - which Dr. Moody labels as a course in "Preventative Ethics" - guides you through a series of value conflicts and ethical choices that link finance to aging. Because financial issues are family issues, the individual and the family may be in conflict, raising such ethical questions as "Who is the real client?" and "Does the client always know best?" The course also examines important legal-financial tools that focus on legacy, health and aging - such as advanced directives, termination of treatment decisions, and wills and trusts. Of central importance to ethical dilemmas are later-life financial and health finance choices concerning the psychology of inheritance as well as the legal, financial and spiritual dimensions of death and dying.The workshop uses four case studies, each developed to incorporate the most likely conflicts among financial, ethical, legal, and gerontological issues.
Marshall B. Kapp. J.D., M.P.H., is the Dr. Arthur Grayson Distinguished Professor of Law at Southern Illinois University; he is the founding editor of the Ethics, Law, and Aging Review (formerly the Journal of Ethics, Law, and Aging).
Harry R. (Rick) Moody, Ph.D. is Director of the Institute for Human Values in Aging, affiliated with the Brookdale Center on Aging of Hunter College, and is also Chairman of the Board of Elderhostel.
AIFG 104 - Financing Longevity
Much financial advice focuses on how clients can accumulate wealth in the earlier years of their wealth span. As more and more people spend a longer part of their lives in old age, the goals of financial planning shift to how accumulated wealth can best be transformed into sufficient and protected income for those later years. This course introduces a set of procedures and techniques that can be used for these goals. The course first examines how the characteristics of and recent trends in public programs - Social Security, Medicare, Medicaid - should be considered in protecting and planning for sufficient income in later life. Second, in the context of different kinds of pension resources, the course examines strategies and techniques for managing several kinds of financial risk relevant to time horizons that are especially relevant to older persons and their families. Finally, in order to "survive retirement," the course examines asset allocation as part of an overall strategy for financing longevity.
John L. McKeever, III, CLU, CFP, RFG, is Executive Vice President of the Delaware Valley Financial Group in King of Prussia, Pennsylvania; he is a member of the Greater Philadelphia Chapter of the Society of Financial Service Professionals and is the Chapter's past Chairman for Continuing Education.
Ronald W. Cavill, CFP, served on the Board of Directors of the National Council on the Aging 1991-1999 and is the founding Chair of the National Institute of Financial Issues and Services for Elders.
Donald Ray Haas, CLU, ChFC, CFP, RFC, RFG, AEP, MSFS, MEd, is president of a comprehensive financial planning practice. He is a practitioner with 50 years experience and author of two books, Financial Planning For the Baby Boomer Client and Money Forever.
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