After working for several years, Adam Pavao had built up money in a retirement account. But he wasn't sure what to do with that investment when his job ended.
"I was having to roll over a 403b into some IRAs, and I wanted to figure out the best way to do that," Pavao said.
Since he was out of work, he couldn't afford to visit a financial planner, a problem many job seekers run into.
"I think a lot of people are not focusing on financial planning, partly because of fear," said Deborah Alfers, manager of the Region 2000 Career Center in Lynchburg.
Alfer's office is offering a service called "Money Smarts for Tough Times," a 13-week series of free seminars that teach the basics of budgeting and investing.
"I believe that knowledge is power, and in these seminars we're going to be imparting some of the information they need," said Joanne Bolding, a financial planner with Edward Jones who is teaching the seminar series.
"Primarily we're going to be talking about values," said Bolding. "Before money has a value, we must have a goal for it."
By helping job seekers develop goals for their money, Bolding believes they'll have even greater success once they find work.
"Anyone that has income can be an investor," Bolding said.
Pavao knows that first hand. Now that he's working again, he's using what he learned through the seminars to make his new income grow.
"I'm uneasy with the way the economy is, just like everybody else, but just having the knowledge and having people to help you out has made it a little bit easier," Pavao said.
The "Money Smarts" seminars begin this week and are free for anyone to attend. They will be held from noon to 1:00 p.m. every Wednesday for the next 13 weeks, at the Region 2000 Career Center in the lower level of The Plaza on Lakeside Drive.
