1. Financial Simplification
Sally Balch Hurme, JD

2. Basic Money Goals
Have enough throughout retirement to comfortably cover expenses
Have enough to take care of your loved ones

3. Take Control Not Marie Kondo’s joy in tidying up
More Irma Rombauer’s Joy of Cooking

4. Where Are You on the Continuum
Hoarder to neat-nick

5. Path to Simplification
You Have
to know
where you have been
where you are going
Path to Simplification

6. 5 bank accounts in 3 different banks 6 credit cards 4 storage units
Simplify
5 bank accounts in 3 different banks 6 credit cards 4 storage units

7. What Do You Have— Make a List
Bank accounts
Brokerage accounts
Retirement accounts (IRAs, etc.)
Pension plans
Credit cards
Rewards programs
Life insurance
What Do You Have— Make a List

8. What You Need to Know Account number ID/PIN/Password
Contact information
How titled
Beneficiary up to date

9. Where It Is Post-it notes Online folder Desk Drawer Portable lock box
Storage unit
Safe deposit box
Where It Is

10. Safe deposit box What to put in it What NOT to put in it
Who and how to access it
Joint ownership

11. Joint with right of survivorship
Individual
Joint with right of survivorship
Tenant in common
Agency or convenience
Pay on death
How It’s Titled

12. Credit Card Simplification
How much credit card debt do you have?
US average $6354, Boomer average $7550
Do you pay full balance each month?
30% are transactors
Which do you pay down first?
How many credit cards do you have?
What is important to you in a card?
What is impact on credit score if close account?
Credit Card Simplification

13. Why Simplify Now Later Direct deposits in line with auto payments
Fewer interest charges/late fees
Better credit score = lower rates
Less time hunting
Ownership in line with estate plan
Sense of satisfaction
Gift to family
Not leave a mess
Role model
Stay in control
Give it to them now
Really don’t need it
Sense of accomplishment

14. ABA/AARP Checklist Series
Get the Most Out of Retirement
Checklist for Family Caregivers
Checklist for Family Survivors
Checklist for My Family