Financial Well-Being

...Your Lifelong Investment

Money doesn't buy happiness. But understanding, managing, and communicating about finances can improve the quality of your life and relationships. These lunchtime seminars will help you take charge of your budget, financial short-term and long-range planning, as well as estate and retirement planning.

Buying Your First Home: What You Need to Know

Wednesday, October 11, 2017 - 12:00pm to 1:30pm

Building 76-156; The David H. Koch Institute for Integrative Cancer Research at MIT

Presenter – Linda Jason, J.D., M.Ed.; Real Estate Lawyer and Educator

Whether you’re considering a house or a condo, buying your first home can be an intimidating process. This seminar will give you all the information you need to feel confident and secure as you make this exciting life decision. Learn how to examine and compare properties, and what questions to ask. Find out about budgeting, dealing with brokers, making the offer, negotiating purchase agreements, estimating ownership costs, arranging for financing, and passing papers.

Paying for College

Tuesday, October 24, 2017 - 12:00pm to 1:30pm

Building 76-156; The David H. Koch Institute for Integrative Cancer Research at MIT

Presenter – Shannon Vasconcelos, M.A.; Senior Manager, College Finance, College Coach

While students are working diligently to get into college, parents—and some students—are facing the daunting question of how much college will cost. This workshop provides a comprehensive overview of the various resources and strategies families use to cover college expenses. Families will learn:

  • Where financial assistance comes from and how to maximize eligibility
  • How aid eligibility is determined and tricky caveats hidden in the fine print
  • The most effective way to appeal the initial financial aid award or negotiate for more funds
  • Effective strategies to employ when spending assets on college tuition
  • Key considerations when selecting the right education loan

Personalized one-on-one consultations with a College Coach Expert on the topic of Paying for College will be available the following days on campus:

  • Thursday, October 26, 2017
  • Wednesday, November 1, 2017

Student Loan Repayment Strategies

Tuesday, November 28, 2017 - 12:00pm to 1:30pm

Building 76-156; The David H. Koch Institute for Integrative Cancer Research at MIT

Presenter – Jeanne Mahan, M.S.; Senior Manager, College Finance, College Coach

Student loan debt has an overwhelming impact on the lives of graduates and parents alike. This workshop will examine ways in which graduates and parents can manage education debt and guide borrowers’ successful transition from college to repayment. Attendees will learn:

  • How to identify repayment responsibilities for each loan
  • Methods for reducing monthly payments 
  • Strategies for identifying cash flow that can be used to prepay education debt 
  • Ways to avoid becoming delinquent and defaulting on education debt, even during times of personal economic hardship 
  • The best resources for managing and maintaining a repayment strategy

Personalized one-on-one consultations with a College Coach Expert on the topic of Student Loan Repayment Strategies will be available the following days on campus:

  • Wednesday, November 29, 2017
  • Thursday, November 30, 2017

Estate Planning Basics

Wednesday, December 6, 2017 - 12:00pm to 1:30pm

Building 76-156; The David H. Koch Institute for Integrative Cancer Research at MIT

Presenter – Patricia C. D’Agostino, J.D.; Senior Associate, Margolis & Bloom, LLP 

This seminar will provide an overview of the essential estate-planning documents that everyone should have. It will include a discussion of:

  • Appointing trusted individuals to make your medical and financial decisions if you are unable 
  • How and why to avoid probate court, which involves delays in decisions and financial distributions 
  • How to minimize Massachusetts and federal estate taxes
  • Tips for protecting assets for future generations and disabled beneficiaries

Patricia will also discuss the eligibility rules for MassHealth coverage of long-term care and some steps you can take to preserve your assets in the event you, or your family members, do require MassHealth coverage in the future.

Retirement Sense: Making Informed Decisions (A Two-Part Series)

Are you beginning to think about when to retire but uncertain of how to make sure you are ready financially? This is a two-part workshop series designed to help participants be informed and proactive about retirement planning for those considering retirement within 10 years. Please feel free to invite your spouse/partner to join you for these sessions. 

Participants must attend both sessions in order to take part in the program, and will be asked to complete a few short personal assignments in between sessions, including signing up for a 1:1 meeting with an MIT Benefits Retirement Specialist. Please be sure that you are willing to make this commitment before registering for this session as space is limited. 

When Can I Afford to Retire? (Part One) 12:00pm - 1:30pm on Thursday, October 12, 2017

Building 76-156 500 Main St, Cambridge, MA 02142)

This workshop will help you learn how to estimate your retirement income and costs to plan for a healthy financial future. We will focus on Social Security and Medicare rules, MIT’s retirement plans, and the tax implications of retirement savings. We will also discuss how your day-to-day spending patterns in retirement might differ from how you spend currently. At the end of this seminar, you should be able to create a basic retirement budget of monthly income and expenses, and create a financial picture of your retirement and your path to getting there. Homework will include personal research into your own current retirement savings and budget in retirement.

Will It All Add Up? (Part Two) 12:00pm - 1:30pm on Monday, November 20, 2017

Building NE49-5000 (5th Floor, L-Lab)

This workshop will help you understand the impact of your current lifestyle, savings, and investment decisions on realizing your retirement goals. You will learn how the choices you make—or don’t make—about managing investment risk can impact the timing of your retirement and your retirement lifestyle. We will also discuss:

  • Asset allocation and diversification in investment
  • How to create a stable income stream
  • How and why you need to keep your household budget in retirement flexible
  • Estate planning—what it is and why it’s important
  • Types of insurance you may need in retirement 
  • How your current and future insurance needs may differ

Presenters –

Ken Davies, E.A., CEBS, B.S.; Retirement Programs Manager, MIT

Steven DimitriouAIF, PRP; Managing Partner, Mayflower Advisors