Michael Kresh is a dynamic speaker who enjoys speaking before financial professionals, employees, HR professionals, business owners and consumer groups.
His passion for retirement planning and investing becomes clear to anyone who has ever seen him live or on television. Whether talking to a roomful of CEOs about company pension plans or a group of Baby Boomers about making their retirement affordable and meaningful, audiences truly enjoy his informative programs.
Michael is a strong believer in the need for financial education, particularly with regard to managing household budgets, planning for retirement, the use of credit cards, mortgages, auto loans, debt management, pension plans and benefits, investment strategies, insurance and more.
One of the topics that Michael discusses with his peers is Behavioral Finance, a relatively new area of study that focuses on how and why individual investors – and some financial professionals - make investment decisions that are not necessarily in their best interests.
Behavioral Finance blends anthropology and human psychology with finance. This past spring’s “Flash Crash” is a perfect example of Behavioral Finance in action. What happened when mere mortals attempted to cope with information and transactions processed at supercomputing speed? Today we face a dynamic new investment world that requires a new style of financial planning to help clients better understand - and appreciate - the role that an advisor plays in achieving their investment goals.
For several years Michael has given highly popular programs for the Nassau-Suffolk Chapter of the National Conference of CPA Practitioners (NCCPAP) at its tax symposium, attended by hundreds of CPAs and CFPs. His program on retirement income issues, Dealingwith the Retirement Income Crisis, was a great success. The session focused on the key issues affecting the Baby Boomer generation and their retirement. A survey of current academic research was presented, and he delved into the major challenges facing those who are already retired as well as critical points that the Baby Boomer generation must deal with before retirement: How will the bear market affect retirement? How can retirees deal with historically low interest rates? Will inflation come back and how do we deal with it? Is 70 the new 60?
RETIREMENT & EMPLOYEES
As part of an educational initiative for companies and their HR departments, Michael addresses employees on the topic of financial literacy and an understanding of their employee benefits package. This benefits both the employees and the employer.
When organizations provide benefits, but employees do not understand their importance and cost, the full value of the benefits program is being lost. Effectively communicating the value, purpose and intent of the benefits being provided is an opportunity to let employees know how important they are to the company and how much the company appreciates their efforts. It is easy to make this a more productive, more profitable scenario for the company and for its employees.
When markets are strong and returns are high, fee structures are not felt as severely. However, when the economy is less than ideal, the right pension structure and investments has a significant impact on the retirement accounts of employees. Given that today’s employees are likely to take legal action in their financial defense, their employers must take a double-edged position of providing for employees while conducting all due diligence in investment opportunities and managing the benefits plan efficiently.