Thursday, February 26, 2009

“Investing for Your future” begins at ACS

Times are tough, with newscasts full of stories about foreclosures, mortgages, interest rates, mass layoffs, investment fraud and excessive Wall Street bonuses.

However, Army Community Service has a six-week class that may help almost anyone get the knowledge they need to take stock in their financial future.
“Investing for Your Future,” begins at 5 p.m. Wednesday and continues March 11 and 18 and April 1, 8 and 15.

Bill Anderson works at Fort Belvoir’s ACS and will lead the course. He is a professional financial counselor and a certified financial planner from the Certified Financial Planner Board of Standards, Inc.

“I’m here for two major purposes: to provide personal counseling for servicemembers and to educate them on every aspect of finances,” Anderson said. He also makes presentations to groups of Soldiers and servicemembers, enlisted and officers, which include budgeting, savings and investing, managing credit and reading a [Leave and Earnings Statement].

He described the course as an “orderly process of planning for the future. We aren’t keeping score. People who attend are going to learn new, basic info. We break things down into pieces. Additionally, in the course, we address if you think you have no money to invest. We balance an investment program versus paying off debts,” he said.

Anderson graduated from the University of Maryland, and has an MBA in finance from the University of Detroit, an accounting certificate from the University of Virginia and a certificate in financial planning from Boston University.

The course schedule is Basic Building Blocks of Successful Financial Management and Investing Basics; Finding Money to Invest and Ownership Investments; Fixed-income and Mutual Fund Investing; Tax-deferred Investments and Investing Small Dollar Amounts; Getting Help with Investing Resources and Selecting Financial Professionals; and Investment Fraud.

Anderson said the classes build on each other. Additionally, he said attending will give people a lot more confidence of the financial field and a lot of knowledge they might not have now.

“Some young people and even adults have no idea about the value of a budget and no money-management knowledge or experience,” he said. “We won’t just give you the tools to live within your means through the course, but to live in less than your means.

“We have to teach people that they are responsible and they need to take charge and manage their own financial affairs. You have individual responsibility for the house you buy and the credit cards you have,” Anderson emphasized.

He added that with the general American population living longer than it used to, people need more resources for longer retirement now than in generations ago.

Sharon Thomas is ACS’ Financial Readiness Program Manager.

“Financial readiness is mission readiness,” she said. “Anything we can do to educate ourselves in the financial arena benefits us, our families and our nation. Being financially ready helps those deploying get their ducks in a row before they leave. Everyone who possibly can, should absolutely take advantage of what Mr.
Anderson is offering.

“I am thrilled this class is here, especially with the expertise he brings,” Thomas, who has also conducted the class, said.

“This is strictly financial training and education. There is absolutely no selling and the course offers an atmosphere of learning in a safe environment,” Thomas said.
She said another benefit of the course is a question-and-answer session, where participants can inquire about their own financial circumstances.
“We have to stress the need to start early and that a little financial change over a long period can make a huge difference,” she said.

“The course will give people the basic tools to lay out a financial plan, make decisions unique to their circumstances and make educated decisions down the road,” Thomas said.

Anderson said the course is appropriate for all ages and across the entire spectrum of military people, including new Soldiers, married couples and people thinking of retiring.

The class is open to military, Guard and Reserve members, family members and DoD civilians.

Anderson also said ACS offers limited, on-site childcare for the course. “That way, there’s no excuse for a couple to attend together, which is beneficial because they reinforce with each other what they’ve learned,” he said.

The course is conducted at ACS, 9800 Belvoir Road, Bldg. 200. Registration, including for child care, is available through Wednesday by calling 805-4590 or 2606.