Financial Security: Money Management as We Age

Frequently Asked Questions

FINANCIAL SECURITY: Money Management as We Age offers Riderwood residents a multi-faceted, 9-session course designed by the Caring Connections Committee to build skills and knowledge necessary to:    

  • manage the range of financial aspects in your life
  • plan for changing circumstances and develop a personal support system as you age
  • increase your Peace of Mind

The course is taught by specialists in relevant financial fields. It offers practical skill-building activities, exercises, and homework to apply information to your personal situation.

Applications will be available on this website to complete online. If you need help to register, please ask for assistance from a friend. Computer literacy is not required for the course, but the ability to download or enter data on a website or an email attachment is essential.

DATES: The second pilot course will begin on: Wednesday June 7 and run through August 16, 2023 from 9:30 a.m. to 12 in the Chesapeake Room on the Lower Level of Montgomery Station. Additionally, an essential pre-course session oriented accepted participants to Life Ledger was held on Wednesday May 24, 2023  

The dates of future courses will be announce here.

What are the Course objectives?
The aim of the course is to equip you with confidence and a sense of control over your present and future financial situations. The course will build knowledge and skills leading to:

  • Better understanding of Riderwood’s Finance Department and its resources
  • Improved understanding and management of your personal assets and income
  • Identifying resources and personal supporters ahead of need
  • Documenting your wishes and personal information in your Life Ledger

What is the Life Ledger? The Life Ledger, designed by the Caring Connections Committee, facilitates the documentation of personal data and preferences in a format that makes it easy to share with members of your personal support system. Each class & homework assignment will encourage completing a segment of the Life Ledger.

What topics are covered in the 9 sessions of the course?

Class 1 Overview of Course, Life Ledger, $ Risks We Face
Class 2 Building My Personal Support System
Class 3 Riderwood: My Resources, My Costs (contract terms, Benevolent Care Fund, return of Initial deposit, costs of care)
Class 4 Banking and Cash Flow
Class 5 Managing My Investments
Class 6 Budgeting for the Future (Skill building in budget development & management )
Class 7 My Legal / Health Decisions Impacting My Money (Understanding Advance Directives)
Class 8 Taxes Simplified, No Really! 
Class 9 Managing Risks and Insurance Coverage

Who should take this course? The course content is designed for Riderwood residents who want to boost their financial knowledge and skills. Whether you are a novice in managing your finances or have done it all your life, at some point in the future, you will likely need some support with daily money management, taxes, budgeting and so on. We welcome all participants, even if you are new to finance, or don’t trust yourself yet, or are reluctant to ask for help. This course includes optional follow-up guidance to ease your mind, not with specific answers but with encouragement so you find your own. 

The course can help with identifying a personal support system, steps toward trading roles, effectively communicating your preferences, and learning about Riderwood’s Finance Department and eligibility for the Benevolent Care Fund. Even residents who already have expert advisors may benefit from being better prepared to ask good questions and work with those advisors more effectively. Success means managing what you can and delegating to people you trust when needed.

Requirements for enrollment

  • Commitment to attend all classes and pre-course orientation to Life Ledger
  • Complete the assigned homework / Life Ledger
  • Ability to actively engage in small group interactive activities
  • Willingness to provide feedback to help improve the course content
  • Access and comfort with a computer are NOT required, but desirable
  • Payment of $50 materials fee which covers the costs of development and a course binder 

Time commitment? Besides in-class time, expect to spend two to three hours per week entering data into your Life Ledger, completing worksheets and other homework assignments. The rest depends on your individual situation and what you need to do there to organize, update or implement. You have an option to explore resource articles and videos to reinforce classroom learning, and to share with your family. Practicing any new approaches over time is essential to learning.

Can I access the course content online? Yes. Taking the course in person offers a richer experience, but content can be self-guided as well. Downloads will be posted on where you can access the Financial Security Binder and the Life Ledger for independent use.

When and how can I register for Financial Security?

Downloadable Documents for Financial Security Class:

  • Table of Supplemental Readings for personal research into financial decisions. See links indexed by topic to articles from sources like AARP, Social Security, IRS. Download / save articles from the sources or read online. A binder of hard copies is available to borrow from the Village Square Library.
  • Learn to avoid Scams! Money Smart for Older Adults Resource Guide offers measures to avoid being scammed and solutions /resources if you feel you are being scammed. It is a publication of the Consumer Financial Protection Bureau of the US Federal Government.
  • Binder for Financial Security  This is a 388-page pdf file from the 2023 Pilot of the course, Financial Security: Money Management as We Age
  • Financial Tracking Tables with instructions This is a MS Word file that is automatically downloaded and which contains three tracking tables for your personal use.
  • Budget Forecast Tables with Instructions This is a MS Word file that is automatically downloaded for you and which contains Budget Forecast Tables for your personal use.
  • Life Ledger This link will take you to a page with the 2023 version of Life Ledger, the explanation of the Life Ledger, and a template for doing your Life Ledger on paper.

More Questions? Email