Retirement Planning 101: Start Saving Now!
Every individual must know what they are supposed to do after their retirement and how they are going to survive financially. “Retirement Planning 101: Start Saving Now!” is a comprehensive course that is made to empower the young individuals with the knowledge and tools that are essential for effective retirement planning. The learners will gain useful insights about the early investments and savings for their retirement through this course.
Target Audience
The course will focus on the individuals who:
- Young professionals
- Anyone who are initiating their financial journey and need a guidance
- Any individual who wants to learn about savings and investments for their stable life.
Course Prerequisites
No prior experience and knowledge is required in order to pursue this course. Anyone with the willingness to learn about effective financial tools can join this course.
Objectives
This course will help you learn:
- Recognize the significance of planning and investing for retirement at an early stage.
- Recognize the distinctions among different retirement accounts, such as 401(k) and 403(b).
- Determine the amount needed to save for retirement and how to make the most of employer contributions.
- Understand compound interest and how it affects the amount of money saved for retirement.
- Create a simple investment plan customized to fit their retirement objectives.
- Acknowledge the significance of diversification and asset allocation in investment strategy.
Topics Covered
The course will cover a range of essential topics, including:
– Introduction to retirement planning
– Differences between retirement plans (401(k) vs. 403(b))
– The significance of planning for retirement in the modern age
– Tax advantages of retirement accounts
– The impact of saving early and consistently
– Understanding compound interest
– Investment strategies and asset allocation
– Mutual funds and diversification
– Traditional vs. Roth retirement accounts
– Seeking professional help for retirement planning
Modules
- Introduction & Agenda: Overview of the course and Nick Bucci’s background in financial services.
- Tax Code: Explanation of retirement plans and their implications on savings.
- Why Plan for Retirement?: Discussion on the decline of pensions and the necessity of personal retirement planning.
- Saving in 401(k) and 403(b): Insights into the benefits of retirement accounts compared to standard savings.
- Example of Saving: A practical illustration of the benefits of investing in retirement accounts.
- Impact of Saving for Your Future: Understanding how saving strategies affect long-term financial growth.
- Compound Interest: Defining compound interest and its role in retirement savings.
- How Much to Save: Guidelines on determining savings goals and utilizing company matches.
- The Process of Investing: Key considerations for starting your investment journey.
- How to Invest: Understanding asset allocation based on retirement timelines.
- Mutual Funds: Overview of mutual funds and their advantages over individual stocks.
- Diversification: The importance of a diversified investment portfolio.
- Investment Options: Familiarization with various investment options, including target date funds.
- Where to Save: Differences between traditional and Roth accounts, as well as IRAs.
- Don’t Be Afraid to Ask for Help: Tips for finding a financial advisor or Certified Financial Planner.
- Summary: Recap of key takeaways from the course.
By the End of this Course
The learners will leave with a strong grasp on the basics of retirement planning, along with useful tactics to begin saving for their future. They will have the ability to make educated choices about their retirement accounts and investments, putting them on track for financial stability.
Enroll Now
Take the conscious steps towards securing your financial future. Enroll in this course and gain valuable knowledge regarding various retirement financial planning.
Introduction & Agenda
Financial Advisor and Certified Financial Planner Nick Bucci outlines his background in Financial Services and the agenda for the course.
Tax Code
Nick explains the differences between retirement plans, including the 401(k) and 403(b).
Why do I need to plan for my retirement?
Understand why pensions are mostly a thing of the past, and how all of this relates to needing to plan for your retirement.
Why should I save in a 401(k) or 403(b)?
From tax advantages to a company match, learn why you should save in a retirement account – even if you have a savings account.
Using a fun example, Nick shows how far a dollar goes when put in a savings account vs. when added to a 401(k).
The Impact of Saving for Your Future
Learn how when you start saving and how much you save for retirement determines how your money grows.
Nick defines compound interest with a relatable example and discusses how to make having one million dollars in your retirement account achievable by the age of 65.
How much should you save, and how should you utilize the company match? Nick has the answers!
The Process of Investing
Once you decide you want to save, keep these things in mind as you get started with investing.
Understand asset allocations, and how your money should be split between stocks and bonds depending on how close or far away you are from retirement.
Find out what a mutual fund is, and what advantages it provides as opposed to investing in individual stocks.
Nick explains why it’s not wise to time the market or chase performance.
Investment Options
Discover your options for investing, and become acquainted with target date and glide path funds.
Learn the differences between the traditional 401(k) and Roth 401(k), as well as IRAs and Roth IRAs.
Looking for professional help with retirement planning? Here are some tips for what to look for in a financial advisor or Certified Financial Planner.
Summary
In this closing lesson, Nick summarizes the key takeaways of this course.
Be the first to add a review.
Related Courses
