FREE – Personal Finances – The Basics for Young Adults
Personal finances are the key to the success of literally every person on the planet. So why do high schools and universities never focus on it?!
Omitting this basic instruction puts every young adult at a disadvantage early in life. Worse, if a young adult’s parents are not financially literate, they aren’t in a position to teach their kids about handling their personal finances, which ultimately creates cyclical poverty.
Epee Education wants to stop this societal issue, so we offer this session as a free PSA! Just register with this site to access it.
Kevin Cuthill from Edward Jones (now Ameriprise) shares his years of experience in personal finance. He discusses new ways to think about your money, tips for how to make your money go further, personal budgeting, and the critical foundations of investing.
Agenda & Introduction to the 5-Step Process
Kevin introduces his background and what he enjoys about being a financial advisor, then outlines the agenda of the first portion of the presentation.
Step 1: Where Am I Today?
Kevin describes a budgeting worksheet you can fill out to get a realistic picture of what you spend each month.
Step 2: Identify Your Goals
This lesson explores how to be specific about what your goals are - for six months from now, one year, 10 years, and so on.
Step 3: Prioritize
Kevin explores the Four Uses of Cash and tips for each - although not in the order of USES!
Learn how to master credit by using debit and credit cards to your advantage.
This lesson explores the difference between good debt and bad debt, including the explanation of credit profiles and credit scores.
Step 4: Debt Consolidation & Payoff Strategies
In this section, the potential credit card payoff strategy of paying off one card at a time is discussed, including an example of what to do if you have multiple cards to pay off.
This lesson discusses things to consider before refinancing, including the difference between a fixed rate and Adjustable Rate Mortgage.
Step 5: Review Your Strategy
Discover the importance of reviewing your strategy annually or especially when you experience a life event.
Part 1 Closing
Kevin recaps the first part of the presentation highlighting the Four Uses of Cash and the importance of mastering credit.
This lesson gives a general overview of what to keep in mind when looking to buy a home or a car.
Agenda & Introduction to Foundations of Investing
Discover what's to come with the second half of the presentation with this introduction to the foundations of investing.
Rule 1: Develop a Strategy
This lesson uncovers what determines your investment strategy, as well as introducing risk tolerance.
Rule 2: Stick with Quality
With so many stocks to choose from, this lesson explains how you can pick quality stocks.
Rule 3: Diversify
Kevin dives into why diversifying your portfolio is so crucial, and describes the "point" (no pun intended) of the investment pyramid.
Learn all about bonds with this brief explanation.
Why is the stock market described as a bull or bear market? Find out in this lesson with an overview of stock basics.
Kevin provides an introduction to packaged investment products from mutual funds and Exchange Traded Funds to Unit Investment Trusts.
This lesson goes into depth for one packaged investment product in particular - the mutual fund.
Rule 4: Invest for the Long Term
Understand how putting money in the market will make you money long-term - and how the market historically has always bounced back after it's down.
Learn what systematic investing is and what the benefits are of investing this way.
Rule 5: Focus on What You Can Control
This lesson addresses the financial considerations you can control vs those you cannot.
Part 2 Closing
In closing, Kevin recaps the 5 rules and the importance of keeping these in mind.
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