Progress 10/01/05 to 09/30/10
Outputs
OUTPUTS: The web site, Planning for A Secure Retirement, is available in Spanish as well as English. The site was translated into Spanish and audio clips in Spanish were added to some of the 10 modules. The web site helps people plan for retirement by answering questions about retirement and providing links to other resources. The original site was developed at Purdue University in 2000 by Sharon DeVaney and Janet Bechman. The Spanish translation was done by Alicia Rodriguez-Flores, a Purdue doctoral student. The site is available at the same url, http://www.ces.purdue.edu/retirement. To access the Spanish version, click on the link Espanol in the upper right corner of the screen. PARTICIPANTS: Not relevant to this project. TARGET AUDIENCES: All Internet users are a target audience. However, Spanish speaking workers are the primary target for the Spanish language version of Planning for a Secure Retirement. A second target audience would be educators who develop programming for Spanish speaking workers. PROJECT MODIFICATIONS: Nothing significant to report during this reporting period.
Impacts
Planning for a Secure Retirement is available at eXtension as well as the Purdue web site. The Spanish version will also be available on eXtension.
Publications
- No publications reported this period
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Progress 10/01/06 to 09/30/07
Outputs
OUTPUTS: The web site, Planning for a Secure Retirement, consists of 10 modules that help consumers learn about retirement. The web site has been available in English for several years. During the past year the web site was translated into Spanish. In addition, an audio tape in Spanish was added to each of the 10 modules. The purpose of adding audio to the site was to help Spanish speaking users feel more engaged with the site. Currently the Spanish version of the Planning for a Secure Retirement website is being prepared for eXtension.
PARTICIPANTS: Sharon A. DeVaney, Janet Bechman, and Alicia Rodriguez-Flores
TARGET AUDIENCES: The target audience is Spanish speaking users who are interested in retirement planning in the United States.
Impacts
When the Spanish version of Planning for a Secure Retirement is available on eXtension, it will expand the exposure to the site.
Publications
- No publications reported this period
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Progress 10/01/05 to 09/30/06
Outputs
Planning for a Secure Retirement was designed to help anyone who needs information about retirement. The site links to 30 resources such as Social Security and the Ballpark Estimate at the American Savings Education Council. In 2005, Planning for a Secure Retirement was translated into Spanish by a native Spanish speaker who was a financial educator at a university in Mexico. To increase the functionality of the site, audio clips in Spanish were added to several modules. The English language version of the site has always been included in Financial Security for Later Life, an initiative of the Cooperative State Research Extension and Education Service (CSREES). After the Spanish language version was added, it was also included as part of Financial Security for Later Life. About this time, Financial Security in Later Life was included in Financial Security for All which was selected as one of the first nine Communities of Practice on the electronic network known as
eXtension. Some additional technical work was needed to prepare all the web sites in Financial Security for All for release on eXtension. Assessing the effectiveness of the site has been delayed because of the selection of the sites for eXtension and the additional technical development which was needed.
Impacts
Information about the Spanish language version of the site was distributed nationally on the Family Economics list-serve during 2006. The release of Planning for a Secure Retirement in English and Spanish on eXtension will expand promotion of the site to Internet users all over the US. Although Internet users in other countries could access the site, most of the information applies only to those who are employed in the United States. For example, information is provided about employer-sponsored retirement plans and Individual Retirement Accounts.
Publications
- No publications reported this period
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Progress 10/01/04 to 09/30/05
Outputs
According to the report on Financial Education in Latino Communities: An Analysis of Programs, Products, and Results/Effects compiled in 2004 by the National Council of La Raza (NCLR), effective delivery of financial education to Latino consumers could help families to save wisely, accumulate assets over time, and to steer clear of harmful personal debt. The report stated that it is difficult for Latino families or workers to attend classes or educational seminars because of work schedules, child care, and transportation. A meeting was held with Pamala Morris, Intercultural Action Committee for Extension at Purdue University, and Kelli Selby, International Extension Program Coordinator at Purdue University and they agreed that there was a need for financial education for Spanish-speaking residents. Currently little, if any, financial education in Spanish is available. They agreed with the recommendations from National Council of La Raza saying that financial education
was needed and that it was difficult to attract Latino families or workers to classes because of their work and family obligations. The opportunity to receive funding from an eXtension grant and the Center for Aging and the Life Course at Purdue University combined with the availability of a native Spanish speaker who was also a financial educator enabled the development of a prototype site in Spanish. The educator translated an existing site, Planning for a Secure Retirement, into Spanish. In addition, audio clips in Spanish will be added to the site to make it more appealing. After the site is released to the public, information about the site will be released on the Family Economics list-serve which is maintained at CSREES-USDA. Announcements will be provided in English and Spanish and distributed nationally. About a year after the site is available, a convenience sample of Spanish-speaking residents will be contacted by the most feasible means (email, phone or mail) to assess the
usefulness of the site. The number of Internet linkages to the site will also be noted.
Impacts
The development of a Spanish language web site, Planeando un retiro seguro (Planning for a Secure Retirement) will enable Spanish speaking residents to obtain information about retirement-related information in Spanish. Having access to information in Spanish should enable Latino consumers to acquire needed information and skills at a faster pace than having little or any access to information in Spanish about retirement planning.
Publications
- No publications reported this period
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Progress 10/01/03 to 09/29/04
Outputs
Planning for A Secure Retirement, a distance education site, was developed in 2001 with funding from the Purdue University 21st Century Initiative. In 2002, the site was included in the Program Tool Kit of the Financial Security in Later Life website. Since the inception of Planning for A Secure Retirement, we have continued to expand the site by developing three additional sites. The accompanying sites are: A Retirement Estimator for Farm Families developed in 2002 and available at http://www.ces.purdue.edu/farmretirement, Who Will Get Grandpas Farm? Communicating about Farm Transfer developed in 2003 and available at http://www2.ces.purdue.edu/farmtransfer, and Getting Ready for Estate Planning developed in 2004 and available at http://www2.ces.purdue.edu/estateplanning The Retirement Estimator is a calculator which allows users to enter income and expenses to determine if they can afford to retire. Who Will Get Grandpas Farm contains streaming video that
illustrates how a farmer can communicate more successfully when discussing farm transfer with his father, his son, his brother, and his wife. The site includes an interactive quiz named Using What You Have Learned and a Presentation Guide that can be used by educators. Getting Ready for Estate Planning consists of six steps to help individuals learn about estate planning, clarify objectives, and collect information about their assets and liabilities before meeting with an attorney. All of the sites are also available on the Financial Security in Later Life web site. The sites have been featured in articles in Successful Farming and on the Successful Farming Radio Network. They have also been described in articles in the Journal of Extension. When asked to report on the use of sites in the Financial Security in Later Life Program Tool Kit in December, 2003, Cooperative Extension Service educators in several states reported that Planning for A Secure Retirement, A Retirement Estimator
for Farm Families, and Who Will Get Grandpa's Farm were being utilized in presentations. In May 2004, the Financial Security in Later Life site received an Honorable Mention Award from the American Distance Education Consortium (ADEC). Another important outcome of the web sites, in addition to the recognition by ADEC, is the opportunity for collaboration with county, state, and national faculty in sharing programs. An outcome for the site developers is the ability to update information quickly as financial information is subject to frequent changes.
Impacts
Planning for A Secure Retirement includes 29 interactive links to resources such as Social Security, Benefits Checkup and other retirement planning information. Consumers and Cooperative Extension Service educators are able to use the site when it is convenient for them to obtain information and to develop retirement plans.
Publications
- DeVaney, S. A. (2004). A web site to help farmers decide if they can afford to retire. Journal of Extension, 42(1) http://www.joe.org/joe/2004february/tt6.shtml
- DeVaney, S. A. (2004). A web site to help farm families communicate about farm transfer, Journal of Extension, 42 (4) http://www.joe.org/joe/2004august/tt5.shtml
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Progress 10/01/02 to 09/30/03
Outputs
Planning for A Secure Retirement, a distance education site, was developed with funding from the Purdue University 21st Century Initiative. The target audience is anyone without access to information about retirement planning at work or anyone without a retirement plan. All that is needed to use the site is a connection to the Internet. The site is available at www.ces.purdue.edu/retirement On 03/01/2002, a five year National Initiative was established by the Cooperative Extension Service entitled Financial Security in Later Life. The Initiative is delivered via the Internet at www.reeusda.gov/financialsecurity. It is intended to enhance the capacity of educators to provide educational programs and to provide information to consumers. Planning for A Secure Retirement was selected to be part of the Resource Tool Kit of the Initiative. A Rollout Conference was presented to inform educators throughout the United States of the Initiative. By 12/31/2003, a representative
from each state has been invited to submit to the Initiative web site a report on the knowledge and skills gained from the resources available on the Financial Security in Later Life site. On 04/15/2002, we released a second site, A Retirement Estimator for Farm Families, with support from USDA-CSREES. It is available at www.ces.purdue.edu/farmretirement. This site is a calculator in which users are asked to enter income and expenses to determine if they can afford to retire. It is a supplementary site to Planning for A Secure Retirement. On 09/15/2003, a third site, Who Will Get Grandpa's Farm? Communicating about Farm Transfer, was released. The site is located at ww2.ces.purdue.edu/farmtransfer. This site is based on a study of retirement and succession planning of farm families. The site explains three strategies for communication (direct control, indirect control, and no control) and gives examples of the dialogue between family members. It also serves as a supplement to Planning
for A Secure Retirement. All three sites are available on the Resource Tool Kit for Financial Security in Later Life.
Impacts
Planning for A Secure Retirement includes 29 interactive links to resources such as Social Security, Benefits Checkup and other retirement planning information. Consumers and Cooperative Extension Service educators are able to use the site when it is convenient for them to obtain information and to develop retirement plans.
Publications
- DeVaney, S. A. (2003). Research applications in financial preparation for retirement. Research Methods in Family and Consumer Sciences. Alexandria, VA: American Association of Family and Consumer Sciences, 113-122.
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Progress 10/01/01 to 09/30/02
Outputs
During 2002, the distance education course, Planning For A Secure Retirement, which we developed in 2001, was promoted throughout the United States through press releases, media interviews, conference presentations, and articles in the popular press. At the same time, Planning For A Secure Retirement, became part of the Toolkit of the five year Cooperative Extension National Initiative, Financial Security in Later Life. The purpose of the Initiative is to strengthen Cooperative Extension's capacity to deliver personal finance education leading to financial security in later life. The Initiative is delivered via the Internet at www.reeusda.gov/financialsecurity The Initiative was planned by 14 extension specialists and professors. It was presented to the public at a National Initiative Roll-Out Conference in Myrtle Beach, South Carolina, in March 20-22. About 250 people attended the conference including Cooperative Extension Service specialists and county educators
from 46 states. The focus of the conference was presentations on Internet programs on financial security in later life. A presentation on Planning For A Secure Retirement was repeated twice enabling all attendees to learn about the program and gain ideas for use with their own audience. Following the conference, teams representing each state were invited to submit a plan showing how they could implement the programs. In 2003, the leader from each state will be encouraged to submit electronically to the Initiative's web site an evaluation of knowledge and skills gained from the Initiative Program Toolkit. Other activities during the year include maintaining the links for Planning For A Secure Retirement, responding to media and programming inquiries, and conducting presentations about the Internet site. The site is available at www.ces.purdue.edu/retirement/ It consists of 10 modules that address issues related to retirement planning, such as estimating life expectancy, determining
risk tolerance, estimating the amount of income needed in retirement, learning about eligibility for Social Security retirement benefits, evaluating a current employer's retirement plan, selecting a plan if self-employed, understanding an Individual Retirement Account, deciding what to do with a lump sum, and planning for long-term care. The course includes 29 interactive links. The agencies with whom the program links are often involved in changes to the information that they provide or in the design of their Internet sites. Thus, it is necessary to regularly examine the links and occasionally establish new links. Sometimes it is necessary to modify information presented on the site to accommodate changes in the topics.
Impacts
The Internet site, Planning For A Secure Retirement, is used by Cooperative Extension Service educators in the majority of states that promote online delivery of programs. Educators report that the information is timely, accurate, and well organized. People are able to access the site from their home computers and this is an important benefit to those who are unable to attend programs offered for traditional audiences. Moreover, the site is available to anyone with access to a computer and the Internet.
Publications
- DeVaney, S. A. & Bechman, J. C. (2001). Planning For A Secure Retirement With Distance Learning. Financial Counseling and Planning, 12(1), 1-8.
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Progress 10/01/00 to 09/30/01
Outputs
The purpose is to increase financial preparation by enabling people to have access to a retirement planning education program 24 hours a day, 7 days a week. Participation in a distance education course on retirement planning should enable people to improve their human capital and maximize their utility. A survey of all family and consumer science educators in Indiana was conducted via the Internet and prior to the development of the distance learning course. About half responded that an educational activity on retirement planning took place in their county in the past year, but most of these were only one lesson or meeting. Some educators said they did not know how to obtain an audience or they were not confident about presenting information on retirement. Others believed that someone else in the community such as a financial planner or investment advisor was presenting information on retirement planning. A distance learning course on retirement planning was developed
by the authors with funding from the Purdue University CES 21st Century Initiative. Anyone with a computer and Internet access can participate. The course, available at www.ces.purdue.ed/retirement/, includes 10 learning modules. Users can select the modules that respond to their needs and proceed in the order of their priorities. Each module addresses an issue related to retirement planning, such as estimating life expectancy, determining risk tolerance, estimating the amount of income needed in retirement, learning about eligibility for Social Security retirement benefits, evaluating a current employer's retirement plan, selecting a plan if self-employed, deciding what to do with a lump sum distribution, and planning for long-term care. The course includes 29 interactive links. After the distance education course was developed, a workshop was held with farm management and family resource management educators in October, 2000. Those who attended the workshop and other users have
provided responses to the voluntary evaluation included in the course. They have indicated that the course provided them with new insight about their retirement plans.
Impacts
A counter was added to the distance education course, Planning for A Secure Retirement. Between November 2000 and November 2001, over 7,000 people accessed the distance education course. Several states have requested links to the distance education course. The distance learning course is free and available to any Internet user. The effect of a distance learning course is measured by the number of hits and word of mouth. A request for hands up of those who had been to the site at a national meeting in November 2001 had "hands up" from 90% of the audience.
Publications
- DeVaney, S. A. & Bechman, J. C. (2000). Planning for a secure retirement through distance learning. Retirement Income Security: Current Practice and Emerging Issues. Pp. 19-20. Columbus, OH: Association for Financial Counseling and Planning Education.
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