The LIBRE Institute Financial Wellness Seminar Planning Your Financial Future

1. Planning your
Financial Future
MARIO DORE-BERNHARD
Financial Advisor
305.592.9298 Ext. 2135
Mario.Dore-Bernhard@ClearPointCCS.org

2. Objectives
• Promote long-term financial stability and security
• Learn to establish adequate emergency reserves
• Acquire and protect wealth-building assets
• Improve credit worthiness and buying power
• Develop habits that support financial stability
• Understand factors that contribute to financial health
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3. Talking Points
• About ClearPoint: Who we are & Who we serve
• How to prepare financially for the future: Financial Map
• Closing remarks and Other Considerations
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4. About ClearPoint: Who we are
• ClearPoint was founded in 1964 and is the nation’s second largest
nonprofit credit counseling organization. ClearPoint is a full-service,
HUD-approved organization.
• Our Mission: ClearPoint is committed to promoting “consumer
health through financial education” and to this end, serves as a
trusted advisor, helping people resolve financial challenges and build
economic security for themselves and their families.
• Our Vision Statement: ClearPoint will help individuals and families
build long-term economic security by providing a full range of
solutions focused on financial education, counseling, coaching and
advisory services to low-to-moderate income individuals and families.
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5. About ClearPoint: Who we serve
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6. Financial Map
Think & Reflect
Budget, Priorities, Goals
Emergency Fund
Personal & Business Credit
Income & Debt Management
Investments, Insurance &
Assets
Retirement & Wealth
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How to prepare for the future

7. 7
Think & Reflect

8. 8
Budget, Priorities & Goals
• Budget
 How important is it and Why? (exercise)
 Do you have a Budget? Written or Mental? (poll)
 Is it a Static or Dynamic Budget? How often do you update it?
 Do you have a monthly surplus or deficit?
 Adjust areas of improvement
• Establish Priorities
 Differentiate between Needs vs. Wants
• Goals
 Write down your Short, Mid and Long-term Goals (draw)

9. 9
Budget, Priorities & Goals

10. 10
Budget, Priorities & Goals

11. 11
Emergency Fund
• What is an Emergency Fund?
• Why is it important?
• Calculate the amount you should save into your emergency
fund?

12. 12
Personal & Business Credit
• Personal Credit
 Other considerations
• Business Credit
 Other considerations

13. 13
Income & Debt Management
• Income
 Additional Income
 Linear vs Residual Income

14. 14
…Income & Debt Management
• Debt Management
 Self-manage; Snowball method or Ladder method

15. 15
…Income & Debt Management
• Debt Management
 Self-manage; Snowball method or Ladder method
 Communication with creditors
 Debt Consolidation
 Debt Settlement
 Debt Management Plan (DMP)
 Bankruptcy

16. 16
Investments, Insurance & Assets
• Investments & Asset Accumulation
 Stocks, Bonds, Rental Properties, Business,
Royalties, etc.
• Insurance & Asset Preservation
 Life, Health, Auto, Home, Business,
Investments, etc.

17. 17
…Investments, Insurance & Assets
Source: Allgen

18. 18
…Investments, Insurance & Assets
Source: Allgen

19. 19
Retirement & Wealth
• Retirement
 When to start investing (saving)?
 Traditional retirement vehicles:
 Social Security and other government programs
 Pension
 401K, 403b, etc.
 I.R.A’s: Traditional and Roth
 Other options:
 Real Estate
 Brokerage accounts
 Marketing Networks, etc.

20. 20
…Retirement & Wealth
• Wealth
 Definition

21. Final Remarks
What are your goals? What do you want to become
when you grow old? When do you want to retire?
Build businesses and invest.
Do not rely on one source of income.
If fear stops you, it may be because you lack
emotional or spiritual strength. Search your heart.
A reason why people fail to achieve success is because
they fail to fail enough times!
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22. Don’t give up on your dreams!
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23. Planning your
Financial Future
MARIO DORE-BERNHARD
Financial Advisor
305.592.9298 Ext. 2135
Mario.Dore-Bernhard@ClearPointCCS.org
Thank you for attending