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Important Announcements: TVM Exam 2 and Budget Report Due

Attention students! Reminder that the TVM Exam 2 is due this Monday by 5:00 p.m. This exam covers critical topics including credit, insurance, and retirement calculations, consisting of 10 questions and is worth 40 points. Additionally, remember that the Budget Report is due today by 5:00 p.m. Please note that individual reports will not be accepted late. Make sure to submit your work on time to ensure you receive full credit!

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Important Announcements: TVM Exam 2 and Budget Report Due

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  1. Recitation 11

  2. Announcements TVM Exam 2 Due Monday by 5:00 p.m. Covers credit, insurance and retirement calculations 10 questions 1 hour 40 points
  3. Budget Report Due Today 5:00 pm Individual Report NO LATE SUBMISSIONS WILL BE ACCEPTED Submit on Blackboard under assignments tab Do not e-mail your report Make sure to attach it to your submission 70 points!
  4. Team Projects Investment Report One person per team submits it Due April 27th, by 5:00 pm No late submissions will be accepted Submit on Blackboard under assignments tab Do not e-mail your report Make sure to attach it to your submission 79 points!
  5. Team Project Video Project One person per team submits it Due April 27th, by 5:00 pm No late submissions will be accepted Submit on DoubleTakeunder Video Project CSR 342 Make sure it is submitted under the project, else it wont be graded! Do not e-mail it 100 points!
  6. Announcements Peer Evaluations Due Friday by 5:00 pm Rate team member contribution Scale is from 1-10 10 is the highest (100 %) Student's team scores will then be multiplied by the average percent received from all the team members. If you fail to submit this assignment, you will NOT receive credit for ALL of the team assignments. This does not apply to the whole team. It only applies to the team member that did not submit his/her peer evaluation.
  7. Announcements Post course Questionnaire Due Friday, April 27th 9th by 5:00 pm Extra credit Only if you completed pre course questionnaire Total of 10 points
  8. Debating equality? Not all stocks are the same Not all mutual funds are the same Not all credit is the same Not all insurance is the same Not all retirement plans are the same Choose, but choose wisely…
  9. Standards of living Personal Finance is one of the most important classes in my college career, because whether I am an engineer or a fashion designer, how I manage my money will have a much bigger impact on my lifetime “wealth” than how much I make in each paycheck. You can be “wealthier” at $35,000 than when you make $135,000. It is all how you spend and protect it. Remember that if you switch to a higher standard of living, you won’t want to go back.
  10. Standards to live by When you escape the red brick walls of Purdue, try not to switch to your highest possible standard of living If you can save it before you get used to it you won’t realize it was ever there to start with Going backwards is hard, and nobody wants to do it But don’t drive yourself crazy… you do have to have fun to make life worthwhile VS
  11. Bust out the magnifying glass You’ve got to read the fine print whether it’s… A credit card agreement An insurance policy A bond A vesting schedule A retirement package Anything Look for the pros and cons in everything Perfect solutions seldom exist
  12. Be a convenience user of credit cards who always pays account balances in full. Don’t let psychology tip you up. Be cautious of promotional teaser or balance transfer offers, and read the fine print. Loan flipping can catch up with you.
  13. Know your score because everyone else will be checking it Credit Score
  14. Don’t get caught in traps Due to the time value of money and the fact that you need to start early to take advantage of compounding… Don’t forget to adjust your portfolios as you age More risk now, less risk later
  15. The final lap Beyond Social Security and Employer Pensions, you have to save for yourself You can hide money at home You can bury it in the yard If you want a tax advantage… IRA If you’ll make less later Roth IRA If you’ll make more later
  16. As you age, your risk tolerance shifts. You have less time to make up for losses. In your 20s Think 80-20 In your 30s Think 70-30 In your 40s Think 65-35 In your 50s Think 50-50 In your 60s Think 20-80 At every age, max out your 401(k) And probably a Roth IRA They are the easy investments because they come with advantages
  17. Don’t skimp on insurance. Accidents happen. You will get sick. If you have dependents, will they be taken care of? Total risk assumption is not practical nor realistic
  18. Few last request Keep in touch Facebook group or page Best video projects will be uploaded With your permission only Please take online evaluations
  19. Go Forth and Prosper
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