1998 Program, Association for Financial Counseling and Planning Education

      Updated by 10/28/98

Association for

Financial Counseling and Planning Education

Program in Acrobat


Annual Conference Program

Theme: Securing Your Financial Future

Fort Lauderdale Marriott North, Fort Lauderdale, FL

November 18-21, 1998


Tentative Schedule of Sessions:

Wednesday, November 18

1:00-7:30 Registration

4:30-6:00 Opening General Session

Welcome: Karen Varcoe, AFCPE President, University of California

Introduction: Judith Cohart, AFCPE President-Elect, National Foundation

for Consumer Credit

Speaker: Dallas L. Salisbury, President & CEO, Employee

Benefit Research Institute

Topic: Retirement Confidence, Investment Behavior, and Savings Education

6:00-7:30 Reception

Thursday, November 19

7:00-8:15 Continental Breakfast and Registration

8:15-9:45 General Session

Presider: Judith Urich, AFCPE Newsletter Editor, University of Arkansas

Speaker: Gordon Sherman, Regional Commissioner of Social Security Administration

at Atlanta

Topic: Social Security: Today, Tomorrow and Year 2032

9:30-5:00 Exhibits

9:45-10:00 Refreshment break


10:00-11:30 Concurrent Sessions (4 choices)

Session 1 New Programs and Opportunities

Chair: Nick Coppola, CCCS of South Florida

GATEWAY to a Better Life

Karen P. Varcoe, Shirley Peterson, and Connie Costello, University

of California

The Economic Education Expo: A Demonstration Project Linking Youth

Financial Education and Workforce Preparation

Judy McKenna and Jan Carroll, Colorado State University

Paying for Internet Purchases: Opportunities and Issues

Brenda Cude, University

of Georgia

Session 2 Retirement Planning

Chair: Pat Hildebrand, University of Illinois

Retirement Planning of a Professor and His Spouse

Gerald Madden, Syracuse University

Retirement Counselor Certification: Strengthening A New Profession

John Grable and Sunny Orr, Texas Tech University

Your Three Retirement Questions: A Seminar for Employees

Barbara O’Neill,

Rutgers Cooperative Extension

Session 3 Financial Planning Instruction

Chair: Lakshmi Malroutu, Queens College, CUNY

An Evaluation of a Financial Planning Curriculum for Teens

Sharon Danes

and Catherine Huddleston-Casas, University of Minnesota; Laurie Boyce,

University of Wisconsin

How Do Learning Styles and Teaching Strategies Impact Financial Planning



and Suzanne Bartholomae,

Ohio State University

Decision-Making: Getting Better with Practice

Beverly C. Garner, Celia Ray

and Robert H. Flashman, University

of Kentucky

Session 4 Bankruptcy and Counseling

Chair: Glennis M. Couchman, Oklahoma State University

In Over Your Head: Helping Families Avoid Bankruptcy

Jean Clements, Diane Johnson, Kathy Michelich and Christine F. Olinsky,

Ohio State University

Cross-cultural Bankruptcy Legislation Comparative Analysis: Canada,

United States, and Sweden


L. T. McGregor
, Mount Saint Vincent University; Birgitta

, University of Göteborg; Jean Lown, Utah State University

Economic Counseling in Sweden Helps Households Secure their Financial

Future: A Study of Households Which Have Applied to Municipal Consumer

Organization for Help

Birgitta Klingander,

University of Göteborg

11:30-1:45 Luncheon and Business meeting

Presider: Sharon Burns, AFCPE Executive Director

2:00-3:30 Concurrent Sessions (4 choices)

Session 5 EFT 99: Update

Chair: Ray Forgue, University of Kentucky

EFT99: Moving from Paper Checks to Electronic Payments

Eleanor M. Kelly, U. S. Department of the Treasury

Helping People in Your Community Understand Basic Financial Services:

A Comprehensive Guide for Community Educators


, CSREES-USDA and Jeanne

, Federal Reserve Board

Session 6 Credit and Mortgage Behavior

Chair: Connie Kratzer, Virginia Tech

Search for Credit Information: An Ordered Logit Analysis of the Determinants

of the Extent of Searching for Information and the Use of Different Sources

Jieun Lee, Student Paper Award Winner, Purdue University

Cohort Effects on Credit Card Possession and Use

Cherie Keen, Purdue University

Elderly Households and Home Equity Conversion Mortgages: Selection

of Different Payment Types

Eun-Young Rhee, Purdue University

Session 7 Housing and Investment Planning

Chair: Celia Ray Hayhoe, University of Kentucky

Optimal Investment Allocations Given Fixed Periodic Contributions

Jim Musumeci, Southern Illinois University-Carbondale; Joe Musumeci,

Ascent Engineering, Inc.

Predicting Mutual Fund Over-Performance: A Benchmark Approach

John E. Grable, Texas Tech University; Craig Lemoine, PIE Technologies

Prepayment of Mortgage: That is the Question


, Purdue University

Session 8 Changes of Credit Counseling Industry

Changes of Credit Counseling Industry and Implications for Financial


Moderator: Kenneth Hawkins, Money Management International

Panelists: April Dehlbom, Bank of America Card Services

Alan Olinger, Money Management International

Jessica Cecere, CCCS of Palm Beach County and The Treasure Coast of


3:30-3:45 Refreshment break

3:45-5:15 Concurrent Sessions (3 choices)

Session 9 Workplace Education and Media Coverage

Chair: Shirley Peterson, University of California

Keys to Successful Personal Finance Education in the Workplace and

What The Media is Looking for In Personal Finance Coverage

Jordan E. Goodman, Author

of Everyone’s Money Book, Amherst Enterprises

Session 10 Tax Planning and Financial Counseling

Chair: Mary Jane Riha, FBI EAP

Using “Fiscal Rascal” Money Personalities to Help Clients Adjust

Money Habits

Susan Zimmerman, Zimmerman Financial Group

Taking Distributions from Tax-Deferred Retirement Savings Plans

Karen Chan and Charlotte Crawford, University of Illinois

Tax Breaks for Higher Education

Karen Chan and Charlotte Crawford, University of Illinois

Session 11 Building Partnerships to Increase Retirement Planning

Moderator: Virginia Junk,

University of Idaho

Panelists: Linda

K. Fox
, University of Idaho

Thomas Garman, Virginia


Barbara O’Neill,

Rutgers University

Ronald Hurt, MetLife

Clair Hushbeck, AARP

Friday, November 20

7:00-8:30 Continental Breakfast and Registration

7:30-3:00 Exhibits

8:30-10:00 General Session

Presider: Janice Heckroth, AFCPE Proceedings Editor, Indiana University

of Pennsylvania

Speaker: Richard Hinz, CFA, Director, Office of Policy and Analysis,

Pension and Welfare Benefits Administration, U. S. Department of


Topic: The Private Pension System: Where Do We Go from



10:00-10:30 Refreshment Break

10:30-12:00 Concurrent Sessions (4 choices)

Session 12 Alternative Counseling Approaches

Chair: Jean Lown, Utah State University

Drawing on the Power of Genograms: Techniques for Financial Counseling

and Planning


H. Hammond
, University of South Dakota

Preventing Marital Distress and Disruption Caused by Financial

Problems: Teaching Financial Conflict Management and Problem Solving Skills

William C. Bailey and M. Jean Turner, University of Arkansas

An Interdisciplinary Approach to Financial Counseling: Take Control

… the Power and Impact of Communication Skills on Managing Family Finances

Anne Swift and Linda E. Enders, Iowa State University

Session 13 Helping Low Income Families

Chair: Jonathan Fox, Ohio State University

If You Built It, Will They Come? A Simulation of Financial Product

Use Among Low to Moderate Income Households


and Kevin O’Donnell, Federal Reserve Board

Beating the Welfare Clock: Financial Skills for Self Sufficiency

Ruth K. Miller, Maryland Cooperative Extension

Financial Counseling for Welfare to Workfare Participants


, Purdue University

Session 14 Saving for Retirement

Chair: Deanna Sharpe, University of Missouri

Estimating the Retirement Adequacy of Households and Helping Them

Plan for an Adequate Retirement


, Michael Gutter and Yoonkyung Yuh, Ohio State University

Retirement Income Inequality: Implications for Personal Financial



J. Xiao
, AFCPE Program Chair, University of Rhode Island; Yoonkyung

Yuh, Ohio State University; Lakshmi Malroutu, Queens College

Factors Affecting Retirement Savings of Midwestern Women

Sheran L. Cramer and Xia Yan, University of Nebraska-Lincoln

Session 15 Investment Planning

Chair: Claudia M. Kerbel, Center for Personal Financial Education

How to Buy Treasury Securities

Barbara O’Neill,

Rutgers Cooperative Extension

Investing on a Shoestring: Buying Stock without a Broker

Patricia Q. Brennan, Rutgers Cooperative Extension

The Ins and Outs of IRAs

Patricia Q. Brennan, Rutgers Cooperative Extension

12:00-1:30 Awards Luncheon

Presider: Debbie Vosburg, Air Force Aid Society

1:45-3:15 Concurrent Sessions (4 choices)

Session 16 Helping Employees and Children

Chair: Barbara J. Bristow, Cornell University

Enhancing Employees’ Financial Management Skills

Nancy L. Granovsky, Texas A&M University

Personal Financial Wellness and Worker Productivity

So-hyun Joo, Texas Tech University

Newsletter Series Changes Parent’s/Children’s Financial Behaviors

Alice M. Crites and Patricia A. Behal, University of Nevada

Session 17 Serving Women and Self-employed

Chair: Karrol Kitt, University of Texas-Austin

Evaluation of the Women’s Financial Information Program: A Qualitative


Naomi I. Warner and E. Raedene Combs, University of Nebraska-Lincoln

Satisfaction with Pension Income of Self-employed and Wage &

Salary Workers: Evidence from the 1995 Survey of Consumer Finances


and Catherine Zhang, Purdue University

Health Insurance Expenditures of the Self-employed

Deanna Sharpe, University of Missouri

Session 18 Serving Special Populations

Chair: Edie Milligan, Keeping Track, Inc.

Keys to Successful Life Choices: A Life Skills Education Program

for Offenders

Glennis M. Couchman and Sissy Osteen, Oklahoma State University

Mid-life Career Change: Career Military Versus Noncareer Military

Financial Well-being and Financial Satisfaction

Bruce H. Brunson, Virginia Tech

Sharpening the Definition of Financial Wellness in a Workplace

Education Context

Joan Gray Anderson, University of Rhode Island; Claudia M. Kerbel,

Center for Personal Financial Education

Session 19 Financial Management Strategies of Family Owned Businesses

Moderator: Sharon M. Danes, University of Minnesota

Study Design

Elizabeth Scannell, University of Vermont; Virginia Zuiker, University

of Minnesota

Financial Structure and Intermingling of Financial Resources

Rosie Walker, Michigan State University; George Haynes, Montana

State University; Barbara Rowe and Gong-Soog Hong, Purdue University

Implications for Financial Professionals

Marily Furry, Pennsylvania State University; Sharon Danes, University

of Minnesota

3:15-3:30 Refreshment Break

3:30-5:00 Refereed Posters

Chair: Barbara O’Neill, Rutgers Cooperative Extension

The Determinants of Consumers’ Attitudes toward Credit Use for

Luxury Goods

Soonhwa Choi and Sharon

A. DeVaney
, Purdue University

Digging for Gold at Work: Experiential Investment Education in

the Workplace

Jean Clements, Diane Johnson, Christine Olinsky and Carol Miller,

Ohio State University

A Decision-Making Model Applied to Selection of Long-Term Care


Sheran L. Cramer, University of Nebraska-Omaha

Financial Planning for Retirement Using Technology


A. DeVaney
, Purdue University

Money and Emotions: The Experiences of Clients, and the Implications

for Financial Counselors and Family Therapists

Margaret A. Fitzgerald and Jean N. Soderquist, North Dakota State


Factors Affecting Retirement Income

Linda Kirk Fox and Virginia

W. Junk
, University of Idaho

Check Register Tracking System

Marsha A. Goetting, Montana State University

Financial Risk Tolerance Assessment: A Multidimensional Approach

John E. Grable, Texas Tech University; Ruth H. Lytton, Virginia


Teaching Adults About Financial Resources on the WWW

Nancy L. Granovsky, Texas A&M University

Retirement Planning Guidelines from a Delphi Study of Financial

Planners and Educators

Sue Alexander Greninger, Vickie Hampton, Karrol A. Kitt and Susan

Jacquest, University of Texas-Austin

Projecting Real Portfolio Accumulations

Sherman Hanna, Ohio State University

Estimating the True Expenses of a Client Household


and Michael Gutter, Ohio State University

How Many Households Meet the Net Worth Guidelines of the Millionaire

Next Door?


and Yan Sun, Ohio State University

Life Insurance: Experts’ Recommendations

Karrol Kitt, Sue Alexander Greninger, Vickie Hampton and Susan Jacquest,

University of Texas-Austin

Preparing for the Job Market Life Skills

Ruth K. Miller, Maryland Cooperative Extension

Saturday, November 21

7:00-8:30 Continental Breakfast and Registration

8:30-10:00 Concurrent Sessions (2 choices)

Session 20 Workplace Financial Education: Issues and Answers

Moderator: E. Thomas Garman, Virginia Tech

Research Questions in Workplace Financial Education that Need


E. Thomas Garman, Virginia


Evaluation of Workplace Financial Education

Dorothy C. Bagwell and Jinhee Kim, Virginia Tech

Effects of Workplace Financial Education

Constance Kratzer, Bruce Brunson and Jinhee Kim, Virginia Tech

Stress and Money Management

Paul Camp, Virginia Tech

Session 21 Collaboration showcase

Chair: Ann Coulson, Institute for Personal Finance

A Collaborative Approach to Spread the Word on Financial Planning

Jane Schuchart, CSREES-USDA; Pat Brennan, Rutgers Cooperative Extension;

Jan Lukens, Mississippi Cooperative Extension

10:00-10:30 Refreshment Break

10:30-12:00 General Session

Chair: Karen Varcoe, AFCPE President, University of California

Speaker: Harold

R. Evensky
, CFP, Chair of CFP Board of Standard Board and Author of

Wealth Management

Topic: Retirement Planning Issues in the Real World

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