The Power of Women As Philanthropists Special Thanks To
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Fall 2017 Women, Faith, and Finance is a collaborative initiative led by Luther College to educate women of all ages about financial management, retirement and estate planning, and charitable giving. The Power of Women as Philanthropists Advisory Group privilege, and philanthropy. led by area professionals. The Women, Faith, and Many participants said they Sessions included college Finance Advisory Group enjoyed reflecting on lifestyle planning tips for students includes the following and how it has formed their by Karen Trewin, Thrivent members: thoughts about philanthropy. Financial; the cost of elder care Michelle quipped that, in by Scott Marnin, Wellington Donella Darrington general, “giving is either taught Place; women and volunteer Dawn Deines-Christensen or caught” and noted that leadership by Michelle Janssen; Tracy Dostal parents who talk to their kids and Social Security by Maggie Maureen Duncklee Keynote speaker Michelle Janssen about giving increase their Schoepski, Edward Jones. After Angela Leuenberger likelihood to give. Her honesty lunch, the seminar concluded Jeanie Lovell Dean of college advancement and down-to-earth style with a popular cybersecurity Lynn Monroe Michelle Janssen, CFRE, resonated with women of all session by Sue Pleggenkuhle of Maggie Schoepski of Wabash College in ages. Iowa Senior Medicare Patrol Julie Strom Hendrickson Crawfordsville, Indiana, Eighty-eight tristate area called “Who’s Watching Out Nicole Waskow presented the opening address women participated in the for You?” This topic continues at the 13th annual Women, daylong seminar to learn more to be an audience favorite, and As always, we welcome Faith, and Finance seminar about finance and philanthropy. this time, Sue shared the latest your ideas and input! on Friday, April 7, 2017. The keynote presentation, “A Report from the Front Lines: Lessons Special Thanks to and Learning for Women Leaders and Philanthropists in Our Sponsors! 2017,” shared information and Special thanks to the Arlin inspiration for women in the Falck Foundation, Thrivent audience. Financial, Decorah Bank & Michelle began her keynote Trust Company, Wellington by having the audience stand Place, and Luther College in a power pose (the “Wonder Participants take the “Wonder Woman” power pose. for their support of our Woman stance”)—shoulders 13th annual seminar. Their Thanks to a generous information on how to keep back, hands on hips, feet continued generosity helps sponsorship by Decorah Bank & your personal information shoulder-width apart. She to bring this exceptional Trust Company, all participants safe from identity theft and then led a stand-up exercise learning opportunity to area received their choice between scammers. with questions that engaged women at an affordable price two resource books in addition Planning is under way for the the women in thinking about for participants. Thank you to printed materials for each of 2018 seminar on Friday, April the role of money in their own again! lives. Sharing personal stories the session topics. 6, which will coincide with of her own life experience and Following the opening Decorah’s Women’s Weekend upbringing, Michelle addressed keynote, participants selected Out festivities. how money influences power, two of four concurrent sessions To subscribe to the Women, Faith, and Finance mailing list or request more information, email Jeanie Lovell at [email protected]. 2017 Women, Faith, and Finance Seminar Highlights Karen Trewin shares tenets of college planning. Participants enjoy lunch conversation and networking. Maggie Schoepski talks Social Security. Tracy Dostal and Katrina Brickley with Sue Pleggenkuhle offers tips to keep 2017 Women, Faith, and Finance Keynote speaker Michelle Janssen (right) visits with Mona Nelson. books funded by Decorah Bank & Trust. personal information safe. advisory group members. This article by Christi Hegstad originally appeared in the June 2017 issue of Lift IOWA, a product of the Des Moines Business Record intended to inform, connect, and empower Iowa’s female leaders and business owners. Christi is president of MAP Professional Development and was a presenter at the WFF seminar in 2013. Though not specific to finance or philanthropy, we believe her message will resonate with our WFF readers. Enjoy! Guest Opinion: Uplifting Other Women By Christi Hegstad | President, MAP Professional Development On the radio this week, I heard a Do they inspire you? Do you let them • Let her know you care. “Like” her commercial for a weight-loss product. know? Here are a few simple ways to inspiring posts on Facebook, com- One of the key selling points: “Make your uplift others: ment on her articles on LinkedIn, friends envious!” • Publicize your support. If she’s a business reply to her e-newsletter with a I don’t know about you, but my owner, write a testimonial and include comment about how it helped you. friends aren’t trying to make anyone your permission to share however she sees • Ask how you can help. Let her know envious. They’re trying to make a positive fit. If she’s an employee, write a letter to her you’re available, and ask what she difference in the world, inspire others, leader about her amazingness. most needs. raise kind children, and maybe get • Join her community. Attend her events, Uplifting other women has the same enough exercise and sleep—but incite share her insights, follow her on social effect as sending a gift, complimenting envy? That’s not what motivates them, media. The more followers she has, the a friend, or volunteering: you benefit and I doubt it’s what motivates you, more leverage she has and the greater just as much as your recipient! Before either. change she can impact. you close this article and dive in to your We live in a unique time, one that • Invite her to rise. Do you see her great next task, take a moment to implement more than ever calls for us as women potential? Give her the nudge to run for an idea above or one that you create on leaders to support, encourage, and uplift office or step into a specific leadership your own. Then enjoy the ripple effect one another. We are better together and role. Sometimes a specific invitation in action as it continues to uplift women stronger as teammates. makes all the difference. around our community, state, and globe! And we have so many amazing women • Support her role. Purchase from her busi- right here in Iowa doing stunning work— ness. Invest in her campaign. Spread the Christi Hegstad, PhD is a from running nationwide nonprofits to word about what you’ve gained from her. certified and award-winning coach, speaker, and author, leading difference-making businesses to • Send a note. Simple as it sounds, receiv- helping people work with raising compassionate children to running ing a card of thanks in her P.O. box or meaning and live with purpose. for office. With strength, fortitude, opening an email unexpectedly singing Connect with her online at kindness, and brilliance, a new leader her praises may be just the boost she www.ChristiHegstad. com. emerges daily and does her part to change needs in that moment. our community—and the world. Put Thanksgiving Lessons to Work in Your Financial Plans Thanksgiving is almost here. Over the method is through a 529 plan, which offers diligently throughout your working years, years, this holiday has taken on a variety high contribution limits and potential you could still be vulnerable to financial of meanings, most of them centered on tax advantages. Plus, a 529 plan gives you dependency if you need an extensive family, caring, and sharing. You can carry significant control and flexibility. If you period of long-term care, such as a nursing these same values past Thanksgiving into establish a plan for one child, but he or she home stay. These costs can be enormous, your daily life —and you can certainly decides not to go to college, you can name and Medicare typically pays only a small incorporate them into your financial another child as the recipient. percentage, and usually for just a limited strategies for taking care of your loved ones. Be generous. time. To protect your financial freedom, you Here are a few suggestions: You don’t have to be a millionaire to make should explore ways of addressing long- Protect your family. meaningful financial gifts to your family. term care costs. A financial professional If something were to happen to you, could For example, if you have grown children, can explain those alternatives that may be your family pay the mortgage? Could consider helping them fund their IRAs. You appropriate for your situation. your children still afford to go to college can’t contribute directly to a child’s IRA, Communicate your wishes to your family. someday? To protect your family’s current but you can write checks to your children At some point in your life, you will need lifestyle and long-term goals, you may well for that purpose—though, of course, they to draw up your estate plans, which could need to maintain adequate life and disability are then free to do whatever they want with include a will, a living trust, a durable insurance. Your employer may offer these the money. It’s not always easy for a young power of attorney, a health care directive, types of protection as employee benefits, person to “max out” on an IRA, which has and other documents. To be fair to your but the coverage might be insufficient for an annual contribution limit of $5,500 for children and other family members, and your needs. Consequently, you might need to workers under 50, so any help you can give to avoid hurt feelings, you should clearly supplement your employer-paid insurance your children in this area should be greatly communicate your plans and your wishes with additional policies.