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Telling the “Financial Security in Later Life” Impact Story Nancy Porter, Co-Chair NIMT

Discover the impact of the Financial Security in Later Life program, with insights on financial literacy, retirement planning, and asset management. Learn about success stories and awards received, and explore lessons learned and keys to success.

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Telling the “Financial Security in Later Life” Impact Story Nancy Porter, Co-Chair NIMT

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  1. Telling the “Financial Security in Later Life” Impact Story Nancy Porter, Co-Chair NIMT Jane Schuchardt, Co-Chair NIMT November, 2005

  2. FSLL Impacts • 24 states have reported data online • 38,132 individuals participated in programs • 89% surveyed increased their financial literacy • 59% surveyed planned to utilize practices • 48% have reported utilizing recommended practices • 38% planned to establish or revise investment goals

  3. FSLL Impacts • 46% planned to develop an integrated plan to accumulate, protect, and distribute assets • 23% surveyed after the program reported better management of credit • 53% have developed a plan to achieve retirement income goals • 43% indicated on follow-up surveys that they had utilized one or more recommended practice • 93% would recommend programs they completed to others

  4. FSLL Success Stories • “Positioning for Success” satellite video conference, 2003 • Featured success stories from 8 states and CFA • Streaming video available at www.csrees.usda.gov/fsll

  5. FSLL Recognition • 2004 ADEC Excellence in Distance Education Honorable Mention Award • 2004 AFCPE Outstanding Educational Program Award • 2005 Selected for eXtension Prototype Launched in February

  6. Two Questions • What difference are you making? • How do you know? Hungry – get food, eat food, feel better

  7. Logic Model • Inputs – what we invest • Outputs – what we do • Outcomes – what results • Short – learning • Medium – action • Long– conditions Source:http://www.uwex.edu/ces/pdande/evaluation/evallogicmodel.html

  8. Internal Uses • Extension administrators • eXtension • CSREES • http://www.csrees.usda.gov/financialsecurity

  9. External Uses • www.mymoney.gov • TSP Act of 2004 • SAFE • Strategy for Assuring Financial Empowerment

  10. Lessons Learned • Changing behavior is a process – I know, I will, I do, I do over time • Organizational change is important • Indicators must be SMART • In-service training is critical • Partnerships add value • Impacts open doors

  11. Keys to Success • Begin with the end in mind • Invite an evaluator • Say it simply • Celebrate success

  12. QUESTIONS?

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