10 topics to draw a crowd for your seminars
A seminar on how to plan for and navigate the cost of college is sure to be popular.
Seminars are a popular way to draw people in for education. They not only provide value to your plan sponsor, but can also increase plan participation.
Related: Podcasts: An untapped marketing opportunity
Advisors looking to enhance interaction with their plan participants can use these 10 high-demand topics to draw a crowd.
1. The importance of saving
Sometimes it is best to start with the basics. It may seem like a no-brainer, but the fact is that a third of Americans have $1,000 or less in a savings account. Learning the why is an important step in building the habits of saving. Try emphasizing various reasons to save, like emergency funds, college expenses and retirement.
2. Budgeting
Budgeting goes hand in hand with saving. It increases the amount a person can save by teaching them how to track their spending. Seventy-eight percent of people in a recent CareerBuilder survey live paycheck to paycheck. That could eat into your clients’ plan participation, as people opt-out to get more cash in hand. Budgeting can help people understand where they are spending their money and how they can save more.
3. Frugal living
Living within one’s means is an important skill. Like budgeting, this can help to create space in a paycheck for savings. Spending more than you make can lead to debt and financial stress. That stress has an impact on all aspects of life, including work performance.
4. Planning for retirement
Planning for retirement is a popular subject among employees. Most Americans don’t know how much they will need to retire, while almost half have absolutely no retirement savings at all. The importance of saving for retirement cannot be overstated, especially as 22% of Americans do not think it is not likely that Social Security will be available when they retire. This topic is an ideal place to focus on things like saving early and compound interest.
5. 401(k) allocation
Building on the points above, explaining the benefits and inner workings of your 401(k) program is key to increasing participation. Emphasize the tax advantages and the streamlined contribution process. Workers are more likely to save for retirement if they don’t have to think about it.
6. Investing
Many times, the only experience Americans have with investing is choosing their 401(k) allocations. In fact, only 55% of Americans own any stock at all. That means a huge number of people are missing out on this opportunity. Topics can include the difference between individual stocks and ETFs or mutual funds, and long-term versus short-term investing.
7. Planning for college
Planning for a child’s college is a popular seminar topic because it applies to so many people. Forty percent of Americans are parents. Plus, college costs have risen exponentially in recent years, making it harder and harder to afford. A seminar on how to plan for and navigate the cost of college is sure to be popular.
8. Managing debt
There are many types of debt and it is important to understand the differences. Credit card debt and mortgage debt can have vastly different impacts on a person’s net worth. This topic is popular because it affects almost everyone. Teaching people how to manage their debt and how interest rates and APRs work will always draw a crowd.
9. Appreciating and depreciating assets
These are big words that intimidate a lot of people, but if you put it in terms they understand, you will find a lot of interest. For example, most people know that a new car’s value drops as soon as you drive it off the lot. But they are still willing to take out large loans for cars. Emphasizing the differences between assets that build wealth, like real estate, versus assets that diminish wealth, like cars, can help people grow their net worth.
10. Financial calendar
It is true that many times, expenses hit us out of the blue; but many expenses can be anticipated. A new roof for your house, for example, can be planned for years in advance. By laying out a calendar of these known expenses, people can avoid racking up debt or diminishing their savings.
Your seminars do not have to be just about 401(k) participation. Covering a broad range of topics will help draw more people. This, in turn, will help boost plan participation and provide extra value to your employer clients.
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