A finance seminar at Tarrytown Library by Joakim Sjoquist

“Jane Bryant Quinn New Date Sat. March 5 at 2 pm  Photo of jane Bryant Quinn

How to Make your Money Last with American Financial Journalist Jane Bryant Quinn Ms. Quinn is one of the nation’s leading commentators on personal finance. She currently posts twice-weekly columns for this blog and CBS MoneyWatch.com. and a monthly column for the AARP Bulletin and the author of many books on personal finance.” – Flyer outside Tarrytown Library

As I entered the room on the second floor of the library, I noticed quite abruptly that my presence dramatically lowered the median age. It was crowded, and I wasn’t sure what to expect. However, a warm-hearted lady approached me and handed me Mrs. Quinn’s book; giving me a slight insight of what to come, as well as a bit of small talk – which I’ve now understood is etiquette at these sort of events. And so Ms. Quinn enters the room.

With a filled paper cup coffee mug in my hand, I was curious about what to come. Mrs. Quinn introduced herself at the podium. She had this kind of charisma that radiates authority and diligence, but with a warm and frivolous twist, the kind you only achieve from years of experience. She began to speak about herself, how her husband had passed away, how she had remarried and was now very happy with her life.

She caught the audience by talking about how laws regarding partners as well as and wills work, putting in a joke or two of how she couldn’t bake a potato to save her life, a real raconteur. After everyone’s cheeks had had a break, she went into the serious matters: How to prepare for your pension. Although the concerns she brought up was not directly of my concern, (preparing myself for a pension that is) she did provide very good reasons to why we should perhaps be skeptical and question bank assistants, social norms and ultimately give some more room for yourself to enjoy your life. She also brought up some main points.

Don’t be afraid to pick out money from your savings. She made it very clear that even though most of them (pensioners) have children, it was important to think about themselves and make sure that they live a good life their last 30 years.

Pensioners are still long-term investors– She proceeded to explain how even though at the age of 60, you are still a viable long-term investor, with on average 20-30 years left in life. Don’t throw away all your money on life insurances & stocks, and try to aim the safe funds.

Understand your situation –Realize in what situation you are in now, and where you will be in 10-20 years. Will it be the nursing home, new apartment or stay in your house? And once you’ve gone through that, make decisions as soon as possible. If you don’t think you are going to afford to live in your house in 10 years, sell it now. She emphasized: “It will be hard to leave a house that has been your home for 30 years, but believe me, it will be worth it”.

What should I have done when I was younger – Invest & save. I felt like this was really directed towards myself, and she did mention how she believed the future was in pharmacy and technology. And that she suggested everyone would invest in.

What will I do with my social security? – Quinn emphasized that if you don’t believe that you will earn enough from your social security, make sure that you start saving as soon as possible, and put your money in funds or stocks, so that you do not have to work part time job your last years.

Don’t be afraid of the fluctuations in the stock market – The market will always bounce back, and with your funds you will have a safe investment that will not be as affected by it as if you would buy stocks. (Let me mention that she really made it clear that stocks could be bought, but one should be aware of the risks involved with it.)

In summary, even though my expectations had a dip once I joined the room, Ms. Quinn’s charisma gave good ground and caught the audience apart from her humor also providing good, simple explanations on matters that does not only affect the elder population of society, but also giving me a heads up on what to come, which I am thankful for since it would not be a subject of which I would regularly research.

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