Financial Education Curriculum

ROOTS

Financial Education

GUIDEBOOK

ROOTS VIDEO SERIES with Ericka Young

VIDEO 1: Your Money Past

VIDEO 2: Your Money Present

VIDEO 3: Your Money Future

GROWTH

GROWTH VIDEO SERIES with Ray Hilbert

VIDEO 1: Preparing a Game Plan

VIDEO 2: Practical Planning

VIDEO 3: Any Last Words?

WINGS

WINGS VIDEO SERIES with Lisa Dillman

VIDEO 1: Personalize Your Legacy

VIDEO 2: Decisions & Dynamics

VIDEO 3: The Gift of “What If”

www.rootsandwingslegacy.org

Financial Education

GUIDEBOOK

VIDEO 1: Your Money Past

VIDEO 2: Your Money Present

VIDEO 3: Your Money Future

VIDEO 1: Preparing a Game Plan

VIDEO 2: Practical Planning

VIDEO 3: Any Last Words?

VIDEO 1: Personalize Your Legacy

VIDEO 2: Decisions & Dynamics

VIDEO 3: The Gift of “What If”

www.rootsandwingslegacy.org

YOUR MONEY PAST Financial Education with Ericka Young ROOTS

VIDEO 1: NOTES AND REFLECTION

MONEY MESSAGES

Your first experiences with money are affecting you today.

The money messages that you saw and heard played into what you did with money when it was available to you.

Take a few moments to reflect on your younger years. In the spaces provided, jot down what you heard, saw, and did with money.

I saw: I heard: I did:

Do you see any themes in your money past? Are there any ah-ha moments you could ponder as you continue your financial journey?

“Exploring your money past is the first step to figuring out why you do what you do with money now.” Ericka Young

VIDEO 2:: NOTES AND REFLECTION

YOUR MONEY PRESENT

Time to take a look in the mirror (or the bank account, as it were.)

If that thought strikes a fearful chord in you, that’s an indicator that you may have some work to do when it comes to your current financial situation.

No matter how you feel about your money present, take a few minutes to answer the following questions.

What are some current financial choices that you have anxiety about?

What financial decisions are you making that you aren’t very proud of?

______________________________________________________

What do you wish were different about your financial situation?

______________________________________________________ ______________________________________________________ ______________________________________________________ ______________________________________________________

LET’S GET PRACTICAL

Go through the following list of financial wellness indicators and mark where you are on each one. Then, choose one or two where you’d like to see a change.

Taking Inventory

I spend less than I make…

Never Rarely Sometimes Most of the Time Always

I am wise with my debt...

Never Rarely Sometimes Most of the Time Always

I have protection against setbacks...

None Emergency Fund Life Insurance Other

I have a short-term and long-term financial plan...

Neither Just short-term Just long-term Both

I am generous...

Never Rarely Sometimes Most of the Time Always

Take One Step

Of the one or two items you’d like to change, what is one step you can take to get that ball rolling? Hint: A great next step may be to meet with a financial advisor!

Financial Education with Ericka Young ROOTS

YOUR MONEY FUTURE

VIDEO 3:: NOTES AND REFLECTION

YOUR MONEY FUTURE

You can’t go anywhere if you don’t have a dream.

As a kid, you were full of dreams that had no limits.

As an adult, it can be tricky to re-learn how to dream, but that’s what you ’ re going to do today as you answer the following questions.

What kind of relationship with your finances do you dream of?

______________________________________________________ ______________________________________________________

If money were no object, list some possibilities for your life.

________________________ ________________________

Now circle the ones that excite you the most!

“Dream deep, for every dream precedes the goal.”

Pamela Vaull Starr

THIS IS YOUR LIFE

What’s getting in the way of you achieving your exciting dreams? It could be a lack of knowledge, accountability, action, a combination of all, or something else entirely.

Take few moments to reflect on what’s blocking you and what you ’ re going to do about it.

Do the Next Right Thing

I will: I need:

I will: I need:

I will: I need:

“I’m starting with the man in the mirror, and asking him to change his ways.”

Michael Jackson

Taking Action Looks Like:

Investing in yourself (with knowledge)

Investing in your future self (with dollars)

Investing in your legacy (with both of the above)

THE BUDDY SYSTEM

It’s important to share your dreams with someone else.

Choose someone close to you and tell them how important these are to you and what you plan to do to achieve them.

Ask (and then allow) them to keep you accountable

Accountability Partner ’ s Name Here

DIG DEEP CHALLENGE

This is a fun, but often skipped step. Celebrate! Taking action is no small feat and deserves to be celebrated! After every tiny victory, pause to acknowledge and celebrate your win.

“Once you start celebrating the little victories in life, you’ll begin to notice how infinite they truly are. ”

Alicia E. Mamdee

Financial Education with Ray Hilbert GROWTH PREPARING A GAME PLAN

VIDEO 1: NOTES AND REFLECTION

Financial Education

IMPORTANCE OF A GAME PLAN

In the wake of your passing (unexpected or otherwise) having a game plan in place can help relieve the day-to-day anxiety of those you leave behind

While creating and gathering such instruction may seem like a daunting process, start small by taking a quick survey of what you might already have in place.

I have a prepared Will that is complete and current Will & Estate

If Yes:

I have an Executor in the Will identified Wishes for “life support” or end of life care are included

Distribution of assets is clearly defined

My family knows where the Will is located

If I die, my family has clear financial instructions

All financial accounts are listed in one place

All insurance accounts are listed in one place

All monthly payments and bills are listed in one place

All our advisors (tax, insurance, legal) are listed in one place

All relationships in my life are healthy and in order Relationships

If no or unsure:

I know who I need to reconcile with I know what I need to do to reconcile I commit to taking action within the next ___ days

Yes No Not Sure

Yes No Not Sure

Yes No Not Sure

Yes No Not Sure

Yes No Not Sure

Yes No Not Sure

Yes No Not Sure

Yes No Not Sure

Yes No Not Sure

Yes No Not Sure

Yes No Not Sure

Yes No Not Sure

Yes No Not Sure

Yes No Not Sure

CREATING YOUR GAME PLAN

Chances are, that survey opened your eyes to some of the work you have to do. Take a few moments to reflect on that last page by answering the questions below.

Out of those three categories (will and estate, finances, and relationships) which feels the most daunting to tackle? Why do you think that is? ______________________________________________________

Which of these areas feels most important for you to start with and why?

______________________________________________________

DIG DEEP CHALLENGE

One of the absolute most important things you can do right now is to start compiling anything from the previous lists you do have in one place.

One document, one folder, one box, one fire-proof safe, etc. and then tell a trusted loved one where he or she can find it.

Financial Education with Ray Hilbert GROWTH PRACTICAL PLANNING

VIDEO 2: NOTES AND REFLECTION

YOUR SUPPORT TEAM

Trusted friends, family, and advisors are crucial in helping your family transition to the next chapter after you pass away.

Take a few moments to think through who could surround your loved ones with a variety of support.

Support Team

Name:

Relationship: Email: Phone: _____________

Name:

Relationship: Email: Phone: _____________

Name:

Relationship: Email: Phone: _________________ _________________

Name:

Relationship: Email: Phone: _________________ _________________

Name:

Relationship: Email: Phone: _____________

DIG DEEP CHALLENGE

Talk to each one of the people on this page.

Name: Relationship: Email: Phone: _____________

Ask them specifically to commit to coming alongside your loved ones in the weeks and months after you pass away.

APPLICATION PRACTICAL PLANNING

We totally understand that focusing on your death can be overwhelming (and morbid.)

Now imagine how it would be for your loved ones, while drowning in grief, to make decisions with no direction.

Time to get planning.

My Funeral or Celebration of Life Financial Education

Funeral Home Identified __ Yes __ No

If Funeral Home Identified:

Name: _________________ Representative: ______________ Phone: __________

Are the services paid for? __ Yes __ No If yes, receipt(s) location: __________________

Wake / Viewing

Graveside Service

APPLICATION Service Details

People I would Like to speak:

Songs I would like played or performed: ___________________________________________

Other service wishes:

Any other funeral or celebration of life details ______________________________________________ ______________________________________________

VIDEO 3: NOTES AND REFLECTION

ANY LAST WORDS?

None of us will cheat death -- we know this. The question becomes, are you ready?

Maybe more important than having your finances and final wishes in order is ensuring your relationships are in order.

Leaving nothing unsaid and mending broken relationships before it’s too late is critical to your peace now and your legacy later.

The Healthy

Who:

Of your healthy relationships, who needs to hear something from you?

What:

What would you like to say to these people?

How:

How will you communicate these wonderful messages? Letters? Emails? Videos? Face-to-face?

The Hurting

Who: What:

Of your hurting relationships, who needs to hear something from you?

What do you need to say to these people?

How & When:

How will you communicate these messages and when?

I can ask _____________ to keep me accountable for reaching out to these people.

“Life is relationships. Everything else is the details.”

Dr. Gary Smalley

PERSONALIZE YOUR LEGACY WINGS

VIDEO 1: NOTES AND REFLECTION

YOUR LEGACY

The concept of legacy is so intimate, unique, and personal.

In its simplest form, it answers the question, “What kind of message do you want to leave your kids, grandkids, or community?”

Take a moment to reflect on the questions below -- this will be a good start to honing in on your legacy message!

Ask Yourself

What do you want your closest family members and friends to say about you when you’re gone?

(Gut check!) Will this be true of you? If not, what steps do you need to take to make it true?

APPLICATION

YOUR VALUES

Naming what is most important to you will also help you determine your legacy message

If you haven’t done so already, take the free Values Assessment online at www.rootsandwingslegacy.org/assessment. (If you have, move on to the next step!)

Write your top values in the spaces below, followed by some examples of where these values show up in your life.

SIMPLE TOOLS TO PRESERVE YOUR LEGACY

Protecting your assets with a clear estate and financial plan will help you preserve your legacy. There are a plethora of options when it comes to making these decisions, which is why we recommend the help of Elder Law Attorneys and Financial Advisors.

Financial Planning Estate Planning

A healthy estate plan may include:

A Legally-Valid Will including beneficiaries and any other wishes and instructions

Healthcare Directives such as a living will or healthcare power of attorney

Trusts that can help ensure faster more efficient transfer of assets

Asset Titling strategies can provide enhanced protection and facilitate smooth transfer of assets

Guardianship for your minor children gives you peace of mind and protects your children’s future

A healthy financial plan may include:

A Foundational Framework of income stability, asset protection, and generosity

Accumulation that aligns with your savings and spending goals and investment strategies

Retirement Income distribution plan with ongoing saving strategies

Wealth Transfer, estate, and charitable giving strategies to maximize your legacy

Tax-Efficient plans that minimize your taxes by maximizing your generosity to the people and causes you care about

WINGS

DECISIONS & DYNAMICS

Financial Education with Lisa Dillman

VIDEO 2: NOTES AND REFLECTION

APPLICATION

TOUGH DECISIONS, TRICKY DYNAMICS

Throughout this process, it’s likely you ’ ve had to make some tough calls, like choosing between children for your Power of Attorney (POA) or deciding on how much money to leave to whom, and how.

Even the closest of families can have some tricky relational dynamics and unspoken expectations.

Keeping these realities in mind during your legacy conversations is critical.

Work through these head and heart topics below in preparation.

The Head Piece

Who needs to be present at this legacy conversation?

What potentially challenging dynamics do you anticipate? Sibling rivalry? Jealousy? How do you plan to address these issues?

What tough decisions have you made in your planning process?

Why did you make these decisions?

How can you communicate these decisions clearly?

Take Some Pressure Off

Look at this legacy conversation as a series of conversations. You don’t need to cover every detail and tackle every heavy topic in one sitting. Start with the big picture and go from there.

Choosing between children for POA and other roles within your plan may not feel great, but it doesn’t mean you love one child more than the other.

Consider inviting your Financial Advisor into one of your legacy conversations to thoroughly explain the ins and outs of inheritance, taxes, and the benefits of choosing the wealth transfer strategy you did.

The Heart Piece

What if your kids don’t agree with your plan or think it’s unfair? How will you manage those questions and emotions?

APPLICATION

ALIGNED VALUES

When your goals align with your values, decisions can be made much easier.

Approaching your legacy conversation by naming and recognizing the role your values played in making some of those tough decisions can help give you more clarity and provide your children with greater understanding.

Reflecting on your values, work through the questions below.

What decisions did you make that directly align with your values? How will you communicate those to your children?

How does naming your values help alleviate any lingering guilt or fear in having this conversation? ______________________________________________________

Financial Education

THE GIFT OF “WHAT IF” WINGS

VIDEO 3: NOTES AND REFLECTION

with Lisa Dillman

APPLICATION

THE GIFT OF “WHAT IF”

If you ’ re finding it challenging or overwhelming to talk to your adult children about your legacy plan, you ’ re not alone

Remember: the greatest gift you can give your child is the gift of a “what if” conversation.

Work through the questions below to prepare your head and your heart for this conversation.

What are some quick points you’d like to cover?

Pull ideas from the legacy preservation tools from Video 1 (page 14.)

Helpful Tips: The Head Piece

Preparation: Gather all of your important information into a binder or folder. Even if you ’ re not sharing the specific information, make sure you tell your family members where that information is located in the event of an emergency.

Paralysis by Analysis: Yes! This is overwhelming. Please remember that you can change your mind. Doing the best you can in planning and communicating will protect your children from having to make tough choices on your behalf in the middle of an emotionally-charged crisis.

Proactivity: Consider scheduling this conversation in advance so your kids aren’t blindsided. Choose a neutral location that can offer some privacy. Do yourself a favor and avoid major holidays or events.

The Heart Piece

How do you feel about having your legacy conversation with your adult children?

What, if anything, has been getting in the way of you making this conversation a priority?

What do you hope that the outcome of this conversation will be?

Reflecting on your values, create a one-sentence WHY that can guide your conversation.

“Love leaves a legacy. How you treat people is the most enduring impact you can leave on earth.”

Rick Warren