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Saving, Investing and Retiring

Learn the importance of saving money, basic strategies for savings, investment and retirement planning, and how to protect your money. Develop a savings action plan to secure your financial future.

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Saving, Investing and Retiring

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  1. Saving, Investing and Retiring

  2. Introductions • INSTRUCTOR’S CONTACT INFO HERE • w/ logo where BANK ON logo is. Lesson resources provided by Federal Deposit Insurance Corporation, US Small Business Administration and Purdue University Extension.

  3. Why do you want to save money?

  4. Objectives • 1. Develop basic strategies for establishing and maintaining a savings portfolio at any stage in life. • 2. Identify basic types of savings, investment and retirement plans. • 3. Learn how to protect your money, especially during retirement.

  5. Savings starts NOW It’s never too early. It’s never too late. Utilize money strategies that work!

  6. Money strategies that work Pay yourself first Track your spending Make a spending-savings plan and stick to It

  7. Paying off debt • Determine monthly cash flow • Prioritize your bills • Don’t take on new debt • Contact creditors before they contact you

  8. Basic ways to save • Open a savings account • Federally insured by FDIC or NCUA • Invest • Not federally insured • Includes retirement investments

  9. Savings account • Benefits: • Earn interest • Safe • Easy to access • Account Types: • Money Market Accounts • Certificate of Deposit • Statement Accounts • Special Accounts

  10. Special savings accounts • 529 College Savings Plan • Electronic Transfer Account (ETA) • Individual Development Account (IDA)

  11. Before you invest • Build a 6-month savings cushion: • Emergencies • Sudden illness • Job loss • Other unexpected expenses

  12. Investment basics • Bonds: I, EE, Corporate • United States (U.S.) Treasury securities • Mutual funds • Stocks • Retirement investments

  13. Retirement investments • Individual Retirement Arrangement (IRA) • Traditional • Roth • 401(k)/403(b) • Variable Annuities

  14. How does this work? • Interest and Compounding • Annual Percent Yield (APY) • Rule of 72

  15. Savings action plan activity

  16. How to protect your $$ • Develop a plan, include for emergencies • Be consistent, flexible, realistic and dedicated • Seek out assistance and resources • Take precaution against financial exploitation

  17. Summary: Key points • There is more than one way to save. While investments and retirement funds are more specific ways to save, all of these options, including savings accounts are ways to save. • Make time to assess your current financial situation and formulate a savings action plan. • Take precautions to protect all of your hard work.

  18. Try this at home • Assess your current financial situation • Research and determine the best savings options for you • Develop a savings action plan • Institute precautionary measures to protect your money

  19. Next step Develop and implement your Savings Action Plan!

  20. Thank You! • INSTRUCTOR’S CONTACT INFO with logo HERE Interested in another class? Visit NIBOA.org. Lesson resources provided by Federal Deposit Insurance Corporation, US Small Business Administration and Purdue University Extension.

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