July 31, 2007

Financial Planning - Keith Fledderjohann

Certified Financial Planner and St Marys Rotarian Keith Fledderjohann addressed the club about various issues concerning financial planning.  He is a graduate of Ohio State University and has 21 years experience with Ameriprise in St Marys. 

He emphasized that procrastination is frequently problematic for people considering their options in planning for future financial security.  To illustrate, he indicated that to plan for retirement at age 65, a person needs to save 10% of their income if they start at age 25, 20% if starting at age 45 and 30% if at age 55.

He outlined various rule changes that have resulted from the recent Pension Protection Act including IRA contributions and distributions, 529 Education Savings Plans and Charitable Giving to name a few.  To arrange to receive a free guide to specifics of the Act, follow this link.

In his parting comments, he advised to avoid a sheepherder's mentality which involves following the crowd in investing.  He advises taking a look at the individual's personal situation and working from there as a one size fits all mentality does not apply.

Hosting Rotarian: David Jarvis