Senior Services now offers Mazuma, a new program aimed at helping working-age adults invest for retirement.
"Tomorrow's retirees are in a different solar system than their parents," says Gary Shinkoskey, a retired financial planner who will lead Mazuma workshops and provide follow-up investment coaching this fall. "No more big company pensions; the expense of living and housing is much higher; the kids keep needing and getting more financial help; parents may need help too; saving is more difficult; Social Security may be there but it will be taxed at a higher rate than now; and on and on. Unless one can expect a hefty inheritance, where's the money coming from in retirement?"
Mazuma - the word is Yiddish for money - offers free, 90-minute workshops for those who want to learn the key elements of retirement investment planning. The new service also offers personalized consultation with experienced Investment Coaches for $45 per hour. One hundred percent of the proceeds will support Senior Services' Senior Rights Assistance program.
"Mazuma Investment Coaches are all volunteers with experience in the financial planning field," says Joanne Donohue, Senior Services' vice president. "We're a nonprofit. We don't manage any funds. We won't be telling people to invest in particular funds. We will teach them how to invest for the long term."
Reflecting on why people should seek the advice of a financial planner, Shinkoskey added, "The primary focus of the workshop is 'where are you now and what do you need to do to get where you want to be?' People may put off planning because they believe the ultimate plan may require too much effort and too much discipline. I want to help them develop a sense of urgency around starting now and a basic roadmap of how to do it."
Two workshops will be held each month. For more information and to sign up for a free workshop or an individualized planning session, call 268-6707 or visit www.mazumaretirement. org
Senior Services, established in 1967, is the largest nonprofit agency serving seniors in Washington.[[In-content Ad]]
