Planning your Financial Future

MARIO DORE-BERNHARDFinancial Advisor

305.592.9298 Ext. 2135Mario.Dore-Bernhard@ClearPointCCS.org

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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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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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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About ClearPoint: Who we serve

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Financial MapThink & Reflect

Budget, Priorities, Goals

Personal & Business Credit

Income & Debt Management

Investments, Insurance & Assets

Retirement & Wealth

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How to prepare for the future

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Think & Reflect

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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)

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Budget, Priorities & Goals

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Budget, Priorities & Goals

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Emergency Fund

• What is an Emergency Fund?

• Why is it important?

• Calculate the amount you should save into your emergency fund?

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Personal & Business Credit

• Personal Credit Other considerations

• Business Credit Other considerations

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Income & Debt Management• Income

Additional Income Linear vs Residual Income

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…Income & Debt Management• Debt Management

Self-manage; Snowball method or Ladder method

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…Income & Debt Management• Debt Management

Self-manage; Snowball method or Ladder method Communication with creditors Debt Consolidation Debt Settlement Debt Management Plan (DMP) Bankruptcy

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Investments, Insurance & Assets

• Investments & Asset Accumulation Stocks, Bonds, Rental Properties, Business,

Royalties, etc.

• Insurance & Asset Preservation Life, Health, Auto, Home, Business,

Investments, etc.

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…Investments, Insurance & Assets

Source: Allgen

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…Investments, Insurance & Assets

Source: Allgen

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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.

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…Retirement & Wealth

• Wealth Definition

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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Don’t give up on your dreams!

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Planning your Financial Future

MARIO DORE-BERNHARDFinancial Advisor

305.592.9298 Ext. 2135Mario.Dore-Bernhard@ClearPointCCS.org

Thank you for attending