Money Coach Helps Displaced Workers with Financial Tips to Survive Job Transition

May 19, 2009 - PRLog -- Salem, NH:  Steve Stanganelli, a board-certified financial planning professional and retirement specialist presented a financial health workshop to more than two dozen clients and staff of SalemWorks, a job assistance agency of the New Hampshire Department of Employment Security at the Salem area Boys and Girls Clubs on Monday, May 18.

The workshop, entitled "10 Tips to Financial Health in Transition - Reinventing Your Retirement," was presented to the clients of SalemWorks as part of a Transition Assistance Program created by Nichole Tessier of SalemWorks (603-893-9185 x 99303) . The program offers weekly meetings to help displaced workers network, find new employment opportunities, develop job search and interviewing skills and includes guest speakers like financial planners, career coaches and recruiters.

Stanganelli, a long-time financial educator, has prepared and presented this workshop to various organizations and on site at area employers including Oliver Wyman, a division of Mercer Management in Boston.

Stanganelli tailors the presentation to address the multiple challenges faced by individuals and families managing day-to-day issues while also trying to meet college funding and retirement income goals.  Through an interactive one and one-half hour presentation, Stanganelli provided tips for managing credit, loans, health insurance, savings and tax issues during the job search period.  He also outlined the fundamentals of basic investing principles and the self-destructive tendencies of consumer behavior that can sabotage long-term financial health.  

"Rebuilding financial health begins by understanding the basics, understanding yourself and staying on top of the little things that add up," the five-star rated fee-only financial planner told the group.  

He went on to outline a number of ways to get back on track and be positioned for the future.  These included rebalancing investments regularly "like changing the batteries in your smoke detectors," staying diversified "because your mom's advice about not putting all your eggs in one basket was right," and ways to maintain or boost your credit score to get better loan terms.  To improve emergency savings Stanganelli offered tips on renegotiating with service providers on recurring monthly charges. And "now's the time to makeover your safety net" by reviewing insurance coverage, raising deductibles where possible to lower costs and finding discounts through group memberships, he went on to say.   "By adopting good habits now, you can be better prepared when you're back on the job," Stanganelli added.    

He also offered tips for handling 401(k) retirement plan distribution options and described alternative self-directed IRA and solo 401(k) options that can be used to fund a new business or real estate purchase.  

Tessier of SalemWorks commented "it was a great presentation.  We all learned something new."  

A copy of the presentation is available at http://www.slideshare.net/stevestang/reinventing-your-ret....



About Steve Stanganelli
Steven Stanganelli, CRPC®, CFP®, is a CERTIFIED FINANCIAL PLANNER ™ Professional and a CHARTERED RETIREMENT PLANNING COUNSELOR (sm) with Quest Financial, an independent fee-only financial planning and investment advisory firm with offices in Woburn and Amesbury, Massachusetts and corporate offices in Lynnfield, MA.

Steve is a five-star rated advisor whose practice includes the areas of retirement planning, low-cost index investment strategies, divorce, college funding and asset protection.

Steve frequently writes and presents on these topics.   For more information on these topics, please go to www.moneylinkpro.wordpress.com .

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Quest Financial is a fee-only financial planning and investment advisory firm dedicated to assisting individuals and their families with expert advice to build and protect wealth through customized planning and investment solutions.