Retirement Sense

...Making Informed Decisions

Are you thinking about retirement? To have a fulfilling and secure retirement, you need to plan now. Your satisfaction in retirement depends on understanding your values and getting your finances in order. These workshops—presented in collaboration with the MIT Benefits Office—will help you understand how your current lifestyle, retirement dreams, savings, and investment decisions influence a successful retirement.

The Social and Emotional Aspects of Retirement

Thursday, September 28, 2017 - 12:00pm to 1:30pm

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

Presenter – Richard Dufresne, M.S.W., LICSW; Founder and Principal Consultant, Alliance Consulting HRD

Work provides structure, meaning, conversation topics, as well as some stress and joy. When the structure of work ends, it can raise many questions, such as How should I spend my time? What if I get bored and don’t like being retired? Will spending so much time together with my partner be a good thing? Some people thrive and enjoy being retired while others can slip into periods of self-doubt, boredom, and even depression. This seminar will focus on several key areas that will help participants be better prepared for the social and emotional changes brought on by retirement.
These areas include:

  • Stages of retirement
  • Key questions to consider and answer to help you prepare and become emotionally ready for retirement
  • Common challenges and proactive strategies for the early stages of retirement 
  • Research about those who are happy and satisfied in retirement
  • Effective ways to manage the questions and expectations of family members and friends once you retire

Then What? Planning for a Fulfilling Life After Full-Time Work

Tuesday, October 31, 2017 - 12:00pm to 1:30pm

Building NE49-5145 (5th Floor, T-Lab)

Presenter – Judy Elkin, M.Ed., PCC; Professional and Personal Coach

We are part of an extraordinary, history-making generation: pioneers in understanding and making the most of this “third chapter” of life, one that is filled with the potential for learning, growth, and creativity. Yet, some of us are wary about this next stage, perhaps even resistant. The effects of aging are real, the loss involved with leaving a full-time job is real, and the opportunities that lie ahead are also very real and powerful. You will leave this workshop with at least two action steps that bring you closer to the fulfilling retirement you want.

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. 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

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

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

Building NE49-5000 (5th Floor, L-Lab)

Presenters –

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

Steven DimitriouAIF, PRP; Managing Partner, Mayflower Advisors