Safe Liquid Used For Large Purchases Emergencies Financial Security Savings Tools Are Checking Account Savings Account Money Market Account Certificate of Deposit U S Savings Bond ID: 683374
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Slide1
Savings & InvestingSlide2
Are:
Safe
LiquidUsed For: Large Purchases Emergencies Financial Security
Savings ToolsSlide3
Are:
Checking Account
Savings AccountMoney Market AccountCertificate of DepositU. S. Savings Bond
5 Savings ToolsSlide4
Savings Tools are Safe
Why?
Government Insured/GuaranteedWith the Exception of US Savings BondsFDIC-Federal Depository Insurance Corporation up to $250,000 Federal government agency that insures depository institutions Slide5
Choosing a Savings Tool
By understanding the features of different savings tools, an individual can choose which tools will help them reach their financial goals.Slide6
Depository Institutions
Features of savings tools vary between different depository institutions
Interest ratesAccessibility optionsFees PenaltiesMinimum balance requirementsSlide7
Depository Institutions
Research and compare savings tools at different depository institutions in order to find the best option
Not limited to one depository institutionCan have different savings tools at different depository institutionsSlide8
DEFINITION
Account used to transfer funds electronically and by writing checks
INTERESTMay or may not earn interestIf does earn Interest, rate will be the lowest of the savings tools
Checking AccountSlide9
ACCESSIBILITY
Most liquid of all the savings tools
Funds are easily accessed by:ChecksAutomated teller machines (ATMs)Debit cardsTelephone
Internet
Checking AccountSlide10
FEATURES
Can have minimum balance requirements
Can charge transaction feesCan have a limit on the number of checks written monthlyReduces the need to carry large amounts of cash
Checking Account
Before opening a checking account, learn all of the requirements and restrictions.Slide11
ADDITIONAL INFORMATION
If interest is earned on the account, you must report it on your income taxes (unearned
income) in the year it was earnedYou will receive a form 1099 that tells you the total interest you earned for the year
Checking AccountSlide12
DEFINITION
Account to safely hold money you don’t want to spend
INTERESTInterest earningHigher interest rates than checking accounts
Savings AccountSlide13
Savings Account
ACCESSIBILITY
More liquid than all savings tools except a checking accountFunds may be accessed or transferred between accounts through:Automated teller machinesTelephones
Internet
Debit CardSlide14
Savings Account
FEATURES
Allows for frequent deposits or withdrawalsEasily accessible (the same as checking except no checks)Money storage for financial securityAvailable at depository institutionsMay require a minimum balance or have a limited number of withdrawals per monthSlide15
ADDITIONAL INFORMATION
Interest earned on the account must be reported on your income taxes (unearned
income) in the year it was
earned
You will receive a form 1099 that tells you the total interest
you earned for the year
Savings
AccountSlide16
DEFINITION
This is a kind of combination checking/savings account.
Money Market Deposit AccountSlide17
Money Market Deposit Account
INTEREST
Minimum balance requirement with tiered interest ratesThe amount of interest earned depends on the account balance
For example: a balance of $10,000 will earn a 4% interest rate while a balance of $2,500 would only earn 3%
$1,000-$5,000 3%
$5,001-$10,000 4%
$10,001-$15,000 5%
$15,001-$20,000 6%Slide18
Money Market Deposit Account
ACCESSIBILITY
Less liquid than checking and savings accountsAccessibility is limited to a certain number of transactions per month (usually 3-6)Slide19
Money Market Deposit Account
FEATURES
Minimum amount required to open the account, often $1,000If the average monthly balance falls below a specified amount, the account will earn a lower interest rate for the entire monthSlide20
ADDITIONAL INFORMATION
Interest earned on the account must be reported on your income taxes (unearned income) in the year it was earned
You will receive a form 1099 that tells you the total interest you earned for the year
Money Market Deposit
AccountSlide21
DEFINITION
An insured interest earning savings tool that allows restricted access to the funds
Deposits have to be held for a certain length of timeUsually 7 days to 8 years
INTEREST
Varies depending upon the time length and amount of money deposited
The longer the period of time, the higher the interest rate
Certificate of DepositSlide22
Certificate of Deposit
ACCESSIBILITY
Less liquid than checking, savings, and money market deposit accountsLarge fees are assessed if funds are withdrawn before the end of the designated time periodSlide23
Certificate of Deposit
FEATURES
Minimum deposits range from $100-$250,000Low risk and no fees if funds are held for the designated time periodSlide24
ADDITIONAL INFORMATION
Interest earned on the account must be reported on your income taxes (unearned
income) in the year it was earned even if you don’t touch the moneyYou will receive a form 1099 that tells you the total interest you earned for the year
Certificate of DepositSlide25
US Savings BondE now EE
DEFINITION
Current bonds purchased for face value from the U.S. Government Loan given to the governmentAs of 2012, all bonds are electronic—no paperSlide26
US Savings Bond
INTEREST
Earns interest up to 30 years then mature (stops)Slide27
US Savings Bond
ACCESSIBILITY
Least liquid of all the savings toolsAccess to funds is restrictedCan only be redeemed after 1 year with a substantial penaltyCan be redeemed after 5 years with 3 months of interest penalty
After that
no penaltySlide28
Savings Bond
FEATURES
Cannot be transferred; whoever owns it must cash it in—if die, goes to estatePurchased for $25 - $10,000Any one SS# is allowed a total yearly bond purchase of no more than $10,000Slide29
Savings Bond
ADDITIONAL INFORMATION
TaxesInterest earned on a bond is tax exempt until redeemed (cashed in)Once cashed in or when bond matures (30 years), interest earned on the bond must be reported on your income taxes (unearned income)
If the bond
and
its interest are used to pay for
higher education
the interest it earned will be tax exempt when redeemedSlide30
Liquidity
Examples of Assets
Cash
Automobiles
Houses
Furniture
Assets
: Everything an individual owns with monetary value.
Liquidity
: How quickly and easily an asset can be converted to cash.
Clothing
Electronics
Savings AccountsSlide31
Liquidity
Checking Account
Savings Account
Money Market Deposit Account
Certificate of Deposit
Savings Bond
Most
Liquid
Least
Liquid
Lowest Interest
Highest InterestSlide32
Choosing a Savings Tool
Different savings tools can be utilized to assist in reaching personal financial goals
Higher interest rates are a trade-off for lower liquiditySlide33
Choosing a Savings Tool
When and how often access is needed to funds helps determine which savings tool to use
An individual wants to develop an emergency savings fund
They need a very liquid account
A savings account is very liquid and accessible in emergency situations
Additional info savingsSlide34
Savings Tools Scenarios
Read each Savings Tool Scenario
Discuss which savings tool would be recommended for each scenarioSlide35
Savings Tools Scenario #1
Sean is a high school student that just received his first paycheck from his new part-time job at the local grocery store. He currently has no expenses to pay, and his goal is to save every paycheck from his job to buy a new car in two years. He needs to find a savings tool that will help him reach his financial goal. Which savings tool would you recommend Sean utilize and why? Slide36
Savings Tools Scenario #2
Brittany recently moved into her first apartment. Before, she was living with her parents and had very few expenses to keep track of. Now that she has to pay rent and utilities for her apartment, she needs to find a savings tool that will help her manage her money and ensure she can pay her bills every month. Which savings tool would you recommend Brittany utilize and why?
Slide37
Savings Tools Scenario #3
Bryan has a goal to become financially secure by developing an emergency fund. He has been saving twenty percent of his net income for the past year and now has $2,000. He plans to maintain this balance and only use this money for emergency expenses. Which savings tool would you recommend Bryan utilize and why? Slide38
Saving vs. Investing
Portion of current income not spent on consumption
Savings
Purchase of assets with the goal of increasing future
income or wealth used for long-term goals
InvestingSlide39
Savings vs. Investing
Emergencies
Large Purchases
Financial Security
Money
saved
is used to pay for:
Higher Education
Buying a Home
Retirement
Money
invested
is used to pay for:Slide40
Liquid Assets
Savings are known as liquid assets, because they are easily accessible
(turned into cash) in emergency situations.In most cases, investments are not as liquid as savings.
Of your assets,
which are the most liquid? Slide41
Savings
Investing
Why are Saving & Investing Important?
Provides the foundation for
financial security
Enhances and helps build
wealthSlide42
Saving vs. Investing Activity
Directions:
A characteristic of saving or investing will be identifiedDecide which you think is correctDiscuss the answerSlide43
Saving vs. Investing Activity
Characteristic:
Builds Wealth
Saving or Investing:
InvestingSlide44
Saving vs. Investing Activity
Characteristic:
More Liquid
Saving or Investing:
SavingSlide45
Saving vs. Investing Activity
Characteristic:
Used to pay for emergencies
Saving or Investing:
SavingSlide46
How is Wealth Measured?
The components include:
Assets – Everything a person owns with monetary value Liabilities – Debts (what is owed to others) Net Worth – the amount of money left when liabilities are subtracted from assets (indicates wealth)
Net worth statement -
Describes an individual or family’s overall financial condition on a specified dateSlide47
The Choices You Make Today Impact Your Future!
Increased Wealth!
Saving and investing…
Increase Assets
Decrease
LiabilitiesSlide48
True or False?
Identify if each statement is true or false…
□
If Janie
makes a
one time
investment of $500 at age 20 in a tool that earns the historic 12% average, by age 60 the $500 will become $46,525.
□
If Samuel
invests $3,000 annually from ages 22-31 (a
total
of $30,000 invested) in a tool earning 10% interest, he will have $1.2
million
dollars by age 65.
They are both true. Now we are going to learn how!Slide49
Time Value of Money
Money paid out or received in the future is
not equivalent to money paid out or received today
Three factors affect how an investment will grow.Slide50
Interest Rate
Interest
is the price of
using money
.
Interest rate
is the percentage rate paid on the money invested or saved
Are you earning interest on any money?Slide51
How Do Interest Rates Affect Time Value of Money?
$
1,000
invested for 5 years
Interest Rate
Amount Investment is Worth
1%
$1,051.01
3%
$
1,159.27
5%
$
1,276.28
7%
$
1,402.55
9%
$
1,538.62
Interest Rate
More
MoneySlide52
Time
The longer an individual invests, the more
money he/she will make.Slide53
A Little Goes a
Long Way
Sally Saver puts away $3,000 per year for 10 years, at age 22. She earns 10% on her investment.
Sally invests a total of $30,000 and has earned $1,205,063 by the age of 65
Ed Uninformed waits until he is 28 and contributes $3,000 at 10% for 37 years
Ed invests a total of $111,000 and accumulates $1,079,856 by the age of 65
53Slide54
Amount of Money
The larger the amount of money invested, the larger the return on investment will beSlide55
Amount of Money
7% interest compounded annually for 5 years
Amount of Principal Investment
Return on Investment
$100.00
$40.26
$
1,000.00
$402.55
$
10,000.00
$4,025.52
Amount of Money
Larger ReturnSlide56
Maximizing Your Return
Time:
Invest for as long as possible!Amount of Money:
Invest as much as possible, as often as possible!
Interest:
Invest at the highest interest rate possible!
Use compounding interest that compounds as frequently (annually, semi-annually, quarterly, monthly, daily) as possible!Slide57
Smart Investing
An investment earning an interest rate of
2%
An investment earning an interest rate of
2.1%
OR
Which would you choose?Slide58
Simple Interest
Compounding Interest
Simple Interest vs. Compounding Interest
Interest earned on the principal investment
Earning interest on
the principal
AND past interest
Principal
is the original amount of money invested or savedSlide59
$1,000 x .05 x 3/12=$12.50
$1,000 + $12.50=$1,012.50
$1,012.50 x .05 x 3/12=$12.66
$1,012.50 + $12.66=$1,025.16
$1,025.16 x .05 x 3/12=$12.81
$1,025.16 + $12.81=$1,037.97
$1,037.97 x .05 x 3/12=$12.98
$
1,037.97 + $12.98=$1,050.95
$
1,000
invested at
5
%
interest rate compounded quarterly for
1 year
Return to slide 60Slide60
Compounding Interest
for a Single Sum = $1,402.55
Simple Interest = $1,350
Compounding vs. Simple interest
Why?
By reinvesting the interest earned, the interest payment keeps growing as interest is compounded
on interestSlide61
Simple Interest Equation: Step 1
$1,000 invested at 7% interest rate for 5 yearsSlide62
Simple Interest Equation: Step 2
$1,000 invested at 7% interest rate for 5 yearsSlide63
Compounding Interest Equations
There are two equations for compounding interest
Single sum of money
Money invested only once at the beginning of an investment
Equal number of investments spread over time
Equal amounts of money is invested multiple times (once a month, once a year, etc.)Slide64
Compounding Interest Equation – Single Sum
$1,000
invested at
7%
interest rate compounded quarterly for 5 years
(.07÷4) +1=1.0175
20
=1.41478 x $1,000=$1414.78
Interest Rate
# of times compounded per year
Amount Investment is Worth
+1
)
(
Total
# of times compounded
=
n; then take n
Answer from above x Principal=Slide65
Compounding Interest Equation – Single Sum
$1,000
invested at
5
%
interest rate compounded quarterly for
1 year
(.
05÷4
) +
1=1.0125
4
=
1.0509
x $1,000=$
1,050.95
Interest Rate
# of times compounded per year
Amount Investment is Worth
+1
)
(
Total
# of times compounded
=
n; then take n
Answer from above x Principal=
Go back to slide 59 for comparisonSlide66
Compounding Interest Equation- Equal Investment Amounts Over Time
$1,000
invested every year at 7%
annual interest rate for
5
years
PMT
x
(
1
+i)
n
-
1
=
A
i
Payment
x
(
1
+Interest
Rate
)
Time
Period
-
1
=
Amount
Investment is Worth
Interest
Rate
$1,000
x
(1+.07)
5
-1
=
$5,750.74
.07Slide67
Definitions
Return
is the profit or income generated by savings and investing.
Unearned income
is income derived from sources other than employment, such as interest.Slide68
Smart Investing
Which would you choose?
An investment earning
compounding
interest
An investment earning
simple
interest
ORSlide69
Single Sum vs. Investments Over Time
Compounding Interest for Investments Over Time =
$5750.74
Compounding Interest
for a Single Sum = $1402.55
To make the most of your money, utilize compounding interest and continue to invest!Slide70
Compounding Interest
The number of times interest is compounded has an effect on return
Interest compounding frequently will yield higher returns
$
1,000
invested at
7%
for
5
years
Compounding Method
Amount Investment is Worth
Daily
$1,419.02
Monthly
$1,417.63
Quartely
$1,414.78
Semi-Annually
$1,410.60
Annually
$1,402.55Slide71
Smart Investing
An investment with an interest rate compounded
monthly
An investment with an interest rate compounded
yearly
OR
Which would you choose?Slide72
Rate of Return
Investments usually earn higher rates of return than savings tools
Rate of ReturnThe total return (earned)
on
an investment
expressed
as a percentage of the amount of money invested
Remember:
Return is the profit or income generated by savings and investing.Slide73
What is Mandy’s Rate of Return?
Mandy saved $2,200 in a money market deposit account. After one year, she has a return of $110. What is Mandy’s rate of return?
Mandy’s rate of return on investment is 5%Slide74
What is Derek’s Rate of Return?
Derek invested $900. When he withdrew his money from the investment, he had a total of $1,050. What is Derek’s rate of return?
Derek’s rate of return on investment is 16.7%
$1,050 $900 $150 ReturnSlide75
Risk
POTENTIAL
RETURN
RISK
Risk
The uncertainty regarding the outcome of a situation or event
Investment Risk
The possibility that an investment will fail to pay the expected return or fail to pay a return at allSlide76
Investment Risk
Risk is a trade-off for the potential to receive high returns
All investments carry some level of risk
Financial Risk Pyramid
Illustrates the trade-offs between risk and return for a number of saving and investing tools
What is the risk level of savings tools?Slide77
Financial Risk Pyramid
Speculation
Increasing potential for higher returns
Increasing riskSlide78
Inflation
Inflation
The rise in the general level of prices
Inflation Risk
The danger that money won’t be worth as much in the future as it is today
Inflation risk should not be a concern with savings since the goal of savings is to provide
current
financial security
The rate of return on an investment should be higher than the rate of inflation.Slide79
Investment Philosophy
Each individual has a tolerance level for the amount of risk they are willing to take on
Investment Philosophy
An individual’s general approach to investment risk
The greater the risk a person is willing to make on an investment, the greater the potential return will be.
Generally divided into three categories: conservative, moderate, and aggressiveSlide80
Portfolio Diversification
Portfolio Diversification-
reduces risk by spreading investment money among a wide array of investment tools
Creates a collection of investments that will provide an acceptable return with an acceptable exposure to risk
Assists with investment
risk reduction
Referred to as “Building a Portfolio.”Slide81
Types of Investment ToolsSlide82
Stocks
Stock
A share of ownership in a companyStockholder
or
shareholder
Owner of the stock
Usually a stockholder owns a very small part of a company.Slide83
Return on StocksSlide84
Corporate Bonds
A loan to
a company
The company
pays
annual interest to the investor until the
maturity date
is reached
The specified time in the future when the principal (or initial investment) amount of the bond is repaid to the
bondholder
If company fails, bondholders are given some money before stockholders
Bonds are less risky than stocks but do not have the potential to earn as much as a stock.Slide85
Mutual Funds
Mutual fund-
Created when a company combines the funds of many different investors and then invests that money in a diversified portfolio of stocks and bonds that is professionally managed.
Always research the fees charged by a mutual fund.
Reduces investment risk by helping people diversify their portfolio
Fees can be high
Saves investors timeSlide86
Index Fund
Index fund
A mutual fund that was designed to reduce fees by investing in the stocks that
make up an index
Index-
a group of similar stocks and bonds
Examples- Standard and Poor 500,
Nasdaq
Composite Index, Dow Jones Industrial Average
Offer high diversification with low fees
What is the difference between a mutual fund and an index fund?Slide87
Real EstateIncludes any residential or commercial property or land as well as the rights accompanying that land
A family home is
not considered an investment assetCan be risky and more time consuming but has potential for large returns
Examples of real estate investments include rental units and commercial property.Slide88
Speculative Investments
Have the potential for significant fluctuations in return over a short period of time
Examples- futures, options, commercial paper, collectiblesRecommended for people with an aggressive investment philosophy and a high level of financial securitySlide89
futuresContract
to buy a specific amount of an investment at a specific time in the future for a specific amount of money.
ExampleFarmer would sell 5000 bushels of wheat for $3.50/bushel for delivery on December 1, 2016.Slide90
Stock Option
The
right to buy or sell a specific amount of shares for a specific amount of money in a specified period of time (you don’t have to do this)ExampleAs a bonus, the company you work for gives you a stock option to purchase 100 shares of company stock at $6/share until June 30, 2016.Slide91
Commercial Paper
A short-term
loan given to a companyNot usually backed by collateral so generally purchased at a discountExampleCoca-Cola offers commercial paper with a face value of $100 for $80 that matures June 30, 2016
You pay $80 and at the end of June you get $100Slide92
Buying and Selling Investments
Investors must utilize a brokerage firm that acts as a buying and selling agent for the investor (except for when buying real estate and certain speculative investments).
Complete
investment
transactions
Offer investment advice and one-on-one attention from a broker
Only complete investment transactions
Offer no advice to investors but charge 40-60% lessSlide93
Services Offered for Investing
Retirement Planning
Saving for Retirement Nearing or In Retirement Life Events College Planning
Tax
Life Insurance
Estate Planning
Charitable Giving
Financial GuidanceSlide94
Investment Companies
Goldman Sachs
JP Morgan Chase Morgan Stanley Citigroup Merrill LynchBarclays
Lazard
Credit Suisse
Deutche Bank
Wells Fargo Slide95
Taxation
Profits earned on investments are considered to be
unearned
income
Income taxes MUST be paid
on this money
Includes all forms of returns: interest, dividends, and price appreciation
Taxes are due on
most
investment returns in the year the unearned income is receivedSlide96
Tax-Sheltered Investments
The government tries to encourage certain types of investments by making them tax-sheltered
Tax-sheltered investmentsEliminate, reduce,
or defer taxes
Examples-
retirement plans (IRA),
education
expenses (529 plan),
health care
expenses (employer-funded plan)
Tax-sheltered investments are not tax-free!Slide97
Tax-Sheltered Investments
If taxes
are not eliminated, then the taxes are either paid when the money is put into the account or when the money is taken out of the accountThere are limits to the amount of money that can be investedAn individual should invest as much money as possible in tax-sheltered investments
What is the benefit of a tax-sheltered investment if taxes still have to be paid?Slide98
Employee-Sponsored Investment Accounts
Allow employees to reduce their tax liability and make investing automatic
Money is automatically taken out of an employee’s paycheckEmployers often contribute a portion of money to the investment with no additional cost from the employee
It is recommended that a person utilize these investment tools as much as possible if they are offered.Slide99
Rule of 72
Rule of 72
Allows a person to easily calculate when the future value of an investment will double the principal amountSlide100
Albert Einstein
Credited for discovering the mathematical equation for compounding interest, thus the “Rule of 72.” At 10% interest rate, money doubles every 7.2 years,
T=P(I+I/N)
YN
“It is the greatest mathematical discovery of all time.”Slide101
What Can the “Rule of 72” Determine?
How many years it will take an investment to double at a given interest rate using compounding interest
How long it will take debt to double if no payments are made
The interest rate an investment must earn to double within a specific time period
How many times money (or debt) will double in a specific time periodSlide102
“Rule of 72” FYI
The rule is only an approximation
The interest rate must remain constant
Can’t add money, pay money (loan), or take money
out
Don’t convert % to decimals or
vice versaSlide103
Doug’s Certificate of Deposit
Invested $2,500 Interest Rate is 6.5%
Doug invested $2,500 into a Certificate of Deposit earning a 6.5% interest rate. How long will it take Doug’s investment to double?
72
÷
6.5
11 Yrs
=Slide104
Jessica’s Credit Card Debt
$2,200 balance on credit card 18% interest rate
Jessica has a $2,200 balance on her credit card with an 18% interest rate. If Jessica chooses to not make any payments and does not receive late charges, how long will it take for her balance to double?
72
÷
18
4 Yrs
=Slide105
Jacob’s Car
$5,000 to invest
Wants investment to double in 5 years
Jacob currently has $5,000 to invest in a car after graduation in 5 years. What interest rate is required for him to double his investment?
5
14.4%Slide106
Julie’s College
Julie wants to save for college. She is 5 years old now and has a possible investment that earns 8% interest. She has $2,000 currently. How long will it take for her investment to double?
72
8
9 yearsSlide107
How much money would Julie have when she was 14?
Answer
the following:
How
long did she have the investment
?
How
many times will
the investment double while she had the investment?Slide108
so Question 1) How long did she have the investment?
she’s 14
yrs old now and was 5 yrs old when she started14 – 5 = 9 yrs that she had the investment
And
Question 2)
How many times will the investment double while she had the investment
?
9
yrs
that she had the investment and 9
yrs
to double
9 ÷ 9 =
1 time that it doubles
so
$2,000 x 2 (doubled)= $
4,000Slide109
23 years old?
Question 1
) How long did she have the investment?she’s 23 yrs old now and was 5 yrs old when she started23 – 5 =
18
yrs
that she had the investment
And
Question 2)
How many times will the investment double while she had the investment
?
18
yrs
that she had the investment and 9
yrs
to double
18 ÷ 9 =
2
times that it doubles so$2,000 x 2 (doubled)= $4,000$4,000 x 2 (doubled)= $8,000Slide110
42 years old?
Question 1
) How long did she have the investment? she’s 42 yrs old now and was 5 yrs old when she started42– 5 =
37
yrs
that she had the investment
And
Question 2) How many times will the investment double while she had the investment?
37
yrs
that she had the investment and 9
yrs
to double
37 ÷ 9 =4
times that it doubles (approximately)
so
$2,000 x 2 (doubled)= $4,000
$4,000 x 2 (doubled)= $8,000$8,000 x 2 (doubled)= $16,000$16,000 x 2 (doubled)= $32,000Slide111
Questions to Ask
Certification
HeartPocketbookNeed Unbiased SuggestionsAdvisor Expectations
Prepare a Needs Analysis
Won’t Make any Specific Recommendations Initially
Try to Help you Understand your Financial SituationSlide112
Advisor Expectations
Prepare a Needs Analysis
Won’t Make any Specific Recommendations Initially
Try to Help you Understand your Financial SituationSlide113
Make Saving and Investing Automatic
Saving and investing should be considered a fixed expense that is
automaticPay yourself first is a saving strategy that means to set aside a predetermined portion of money for saving before any money is used for spendingSlide114
Automatic Transfers
&/or
Payroll Deduction
How can savings and investing
become automatic?