Financial literacy wrap-up

April 28, 2014 — Join Bob Leins and John Elliott as they take your questions and phone calls.

During this month For Your Benefit has focused on financial literacy, as April is Financial Literacy Month. The archived shows are available here.

In this show Leins and Elliott spend some time talking about the best way to take your required distributions from an array of retirement accounts.

Our previous financial literacy shows included Leins and co-host Tammy Flanagan as they talked with Joe Sullender, CFP, about what the focus of consideration should be when planning your finances now through retirement. Some of the important topics were: your cash flow; retirement expenses; financial shortfalls and possible adjustments to make; and money management tips.


Ray Kirk, federal benefits specialist, joined the show to talk about the “Building Blocks of Financial Literacy” that are recommended by OPM. He spoke about some of the key elements that help achieve and maintain financial literacy, and how your approach changes throughout your career and stages of life and family issues and needs.

Karen Schaeffer, CFP, and attorney Megan Schaeffer, spoke about the importance of an estate plan in your financial plan, regardless of age. They looked at the documents necessary for estate plans, examined when you need these documents, and noted that estate planning is not just for retirement only. The show included tips for young adults concerning their own estate plan and tips for older parents to think about sharing their plans and arrangements with their adult children.

John Jilek, CFP, was joined by John Elliott as the TSP investments were profiled, discussed as to their makeup, and how the market impacts their current values and distribution options.

The first show regarding financial literacy included Lester Austin, a public affairs specialist with the Social Security Administration. Austin discussed the basic qualifications for Social Security benefits as well as advanced planning for when to elect to take SS benefits.