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Chapter 10 Basics of Saving and Investing

Chapter 10 Basics of Saving and Investing. How Are Saving and Investing Related?. Savings is money set aside for the future. Investing is a strategy to earn more on your money than the rate of inflation. Wealth is the accumulation of assets over time. 10-1 Reasons for Saving and Investing.

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Chapter 10 Basics of Saving and Investing

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  1. Chapter 10 Basics of Saving and Investing

  2. How Are Saving and Investing Related? • Savings is money set aside for the future. • Investing is a strategy to earn more on your money than the rate of inflation. • Wealth is the accumulation of assets over time. 10-1 Reasons for Saving and Investing Slide 2

  3. How Do Saving and Investing Meet Personal Goals? • Short-Term Goals • Contingency planning • Vacation planning • Medium-Term Goals • Buying a car • Paying for college • Planning a wedding • Long-Term Goals • Providing for a family • Buying a house 10-1 Reasons for Saving and Investing Slide 3

  4. How Does Investing Prepare You for Retirement and Beyond? • Retirement is the period of time when you are not working but are able to meet expenses. • Sources of income include: • Retirement plans • Social security • Savings • Investments 10-1 Reasons for Saving and Investing Slide 4

  5. Investment Growth Over Time 10-1 Reasons for Saving and Investing Slide 5

  6. Success Skills Having a Will and Health Care Directive • A will is a document that passes title of property after a person dies. • A simple will describes your wishes for distribution of property. • A trust will leaves your estate in trusts to benefit your children and other heirs. • A health care directive is also a “living will.” • It describes your wishes at the end of life. 10-1 Reasons for Saving and Investing Slide 6

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