Edu4Retirement prepares baby boomers for the future

Published on Monday, 11 December 2017 22:04
Written by BRIAN M. JOHNSON

@brianjohnsonbp

SOUTHINGTON - Members of the Southington Chamber of Commerce gathered at Edu4Retirement at 72 Queen St. to welcome the business, which helps with retirement planning, as a member. 

Michael Callahan, president of Edu4Retirement, said he held a soft opening for the business in February and has received a strong reception since. Located in the same building as Callahan’s former actuarial business of 30 years, Edu4Retirement is focused on guiding retiring seniors through the many steps and questions they face as they plan for their futures. 

“This has been a longtime dream,” said Callahan prior to the ribbon cutting. “I have tried two times to retire and I’ve been unsuccessful. Most of the meetings I had been to were just ‘rubber chicken’ dinners where people were trying to sell me investments. I started to look, myself, into the information I needed to prepare for my retirement years and this is the result. There are hundreds of questions that people go through and in 10 classroom hours and three hours of take-home work we try to help you find them.”

Steven L. Tilona, a registered principal, financial adviser, “fit to retire coach” and “certified wealth strategist” with Edu4Retirement, said statistics show that many baby boomers are unprepared for retirement.

“I was amazed when I saw the numbers,” he said. “It isn’t just financial planning either, people need to think about elder law and what happens if something happens to their wife or husband. These are all the sorts of thing you need to set up. Many people of the baby boomer generation used to work with the idea that when they retired they’d get 90 percent of their salary. Now those pensions don’t exist anymore. People have 401(k)s and many people who retired in 2008, for example, lost 30 to 40 percent of their money. I think the country is unfortunately in for a big surprise.”

Callahan said he will help seniors think about consolidating their assets, their succession plans, wills estates and trusts and how their assets are titled. He will also help them to come up with a financial plan, perform a risk analysis and to take a look at what they want from their future psychologically. He will also encourage them to look at social security and Medicare and where they want to live when they retire. 

“The feedback we have received so far has been outstanding,” he said. “I’ve had many folks who’ve come through our program say that they don’t know what they would have done without us.”

Taylor Crofton, interim executive director of the Southington Chamber of Commerce, said it was “nice to see a new spin on retirement.”

“It seems like they are really going the extra mile to teach people and not just sell them something,” she said. “That’s really refreshing.”

For more information on Edu4Retirement, call or visit . 

Brian M. Johnson can be reached at or .



Posted in New Britain Herald, New Britain, Southington Herald on Monday, 11 December 2017 22:04. Updated: Monday, 11 December 2017 22:06.