Lifelong Learning Personal Finance Courses
Lifelong Learning courses are designed primarily for students age 50 and over. Not all listed courses are offered each semester. See schedule of Lifelong Learning classes to find current schedules, location, dates, and costs.
Economics in The World and in Your Life, LLI-722 – Hours: 12
This course is a non-technical introduction to the fascinating and relevant ideas of economics, enhancing students’ under- standing of current events and decision-making. Topics covered will include using economics to make better personal choices, understanding our economic system and the role of government, and assessing current controversial public policy issues such as the federal budget, inequality and poverty, international trade, environmental pollution, and health care. Students may submit current economic issues that interest them for discussion. The course will be team taught by two full-time Montgomery College professors. Tuition waiver applies; seniors pay fee only.
Health Care Insurance For Retirement, LLI-699 – Hours: 5
This course will address the major components of retiree health care: Medicare, Medicare Advantage Plans, and Long- Term Care. Health care costs typically rise at twice the inflation rate, so the course will also address ways to fund this expense through tax-advantaged plans. You will determine the cost of supplemental coverage, evaluate your ability to pay for health care not covered by federal or state programs, and be able to project your health care expenses. The target audience for this course is those who are newly retired and those who plan to retire within 10 years. Tuition waiver applies; seniors pay fee only.
Income Solutions—I Need More Money!, LLI512 – Hours: 5
Transitioning from years of wealth accumulation to income generation in retirement can be very challenging. Pre-retirees and retirees will learn the best ways to keep more money in their pockets while keeping risks under control. Participants learn how different investments generate income, the potential benefits and risks of each type of investment, various ways to manage risks, and the advantages/disadvantages of four different income generating strategies. Tuition waiver applies; seniors pay fee only.
Retirement Distribution Strategies for Persons with High Net Worth, LLI161 – Hours: 6
Individuals can lose up to 55 percent of their net worth to taxes and death. Worse yet, individuals with large Qualified Plan/IRA assets can lose up to 72% of their plan to taxation. Learn how to protect your assets from taxation using informed decisions to create your retirement plan. Tuition waiver applies; seniors pay fee only.
Wills and Estates, PRF140 – Hours: 8
Learn about wills, trusts, powers of attorney (including Maryland’s brand new statutory power of attorney), and health care directives, as well as how Maryland probate re- ally works. Topics also include the use of revocable living trusts, the pros and cons of joint ownership, the right way to make and receive gifts, and the impact of the Federal estate tax and Maryland’s two separate death taxes on your estate. Tuition waiver applies; seniors pay fee only.
Smart Personal Money Management, PRF-142 – Hours: 8
Do you want to know how to avoid mistakes in managing money, saving more, paying off loans and meeting your future financial goals? Whether you are a student, presently working, or retired, this class will enable you to make smarter financial decisions in all aspects of your life. You will be able to get control of your personal finances by examining the impact of your choices on how you spend, save, pay your loans and expenses and earn money. You will learn when and how much you should be saving for specific goals. Topics include banking, savings, credit loans/credit reports and insurance; protecting against financial scams and identify theft; setting financial goals, developing budgets and creating a financial plan. You will also learn how to track your money and expenses. Tuition waiver applies; seniors pay fee only.
Fundamentals of Investing, PRF091 – Hours: 6
Whether you are a new or experienced investor, understanding investment concepts is a key to success. Topics discussed include roadblocks to creating wealth and how to overcome them; how much risk makes sense; formulating a financial plan; concepts behind stocks, mutual funds, corporate/government/ municipal and zero coupon bonds; CDs; planning for retirement and children’s education; annuities; tax-advantaged investments; and most important, a philosophy of investing. Tuition waiver applies; seniors pay fee only.
Stocks, Bonds, Mutual Funds and ETFs Explained, PRF138 – Hours: 5
Whether you manage your own investments or someone manages them for you, it is important to understand the different types of investments. In this course, an experienced investment advisor and Certified Financial Planner explains advantages and disadvantages of different investments, risks, ways to own investments, asset allocation, tax considerations, historical performance, and more. For instance, are Exchange Traded Funds (ETFs) better than mutual funds? Tuition waiver applies; seniors pay fee only.
In-Depth Investment Skills: How to Become a Savvy Investor, PRF122 – Hours: 22
This course will deliver a comprehensive examination of the investment tools required to take charge of your own investment portfolio, regardless of its size. Learn the pros and cons of investing in stocks, bonds, exchange-traded funds, REITs, convertibles, and mutual funds, and how to use asset allocation and diversification to reduce risk and increase return. Other topics include tax-deferred investments (401k, IRA) versus taxable investments, hedge funds, efficient market theory, indexing versus active management, minimizing taxes, market timing, and duration. Focus is on practical techniques that you can use immediately to improve investment return. Special attention will be devoted to free web sites that will help you analyze your investments and improve your portfolio's return. Tuition waiver applies; seniors pay fee only.
Maximizing Social Security Benefits, PRF141 – Hours: 5
Social Security is a cornerstone of retirement income for most Americans. Yet the nuances of how/when to receive benefits are often overlooked and can lead to missed opportunities. This course will address individual and couples’ benefits, special situations for widows and ex-spouses, reductions due to federal pensions and taxation of benefits. The target audience for this course includes those who are newly retired and who plan to retire within 10 years. Tuition waiver applies; seniors pay fee only.
Retirement Planning Today, PRF119 – Hours: 6
Learn about the many ways to save for retirement as well as the advantages and disadvantages of each. Discover how to save money on taxes, manage investment risks, and protect your assets from potential long-term health care expenses. Fee includes a course workbook and study aids. Tuition waiver applies; seniors pay fee only.