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Secure Your Financial Future: Are You on Track for Retirement?

This project aims to raise awareness about retirement savings and financial planning. It provides alarming statistics, highlights the importance of emergency funds, discusses the downsides of 401(k) loans and early withdrawals, and explores different retirement savings options.

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Secure Your Financial Future: Are You on Track for Retirement?

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  1. Your Most Important Project Duane Eberhard

  2. Todays Project Is Your Financial Future $ecure?

  3. Out of 100 people who starts working at the age of 25, by the age 65: • http://www.statisticbrain.com/retirement-statistics/ • Where do you want to end up on this chart?

  4. Amount Needed in Savings For Retirement The above sums assume your portfolio will earn a 6 percent annualized return during the course of your retirement and endure 2 percent annual inflation erosion. http://www.statisticbrain.com/retirement-statistics/ Do you know if you are on track to hit your number? Project Goal / Target

  5. This is SCARY!!!

  6. Retirement Statistics http://www.statisticbrain.com/retirement-statistics/>

  7. American Net Worth Statistics Project Baseline

  8. Does a project always go exactly as planned?

  9. 62% of Americans have no emergency savings for things such as a $1,000 emergency room visit or a $500 car repair

  10. Have you set aside emergency or rainy day funds that would cover your expenses for 3 months? (by age) • Side Note - The effects of the "Great Recession" • 61% had savings prior to 2008 • Of that group • 32% have used up some of their savings since the great recession • 12% have used up nearly all their savings • 13% have used up ALL their savings Project Change Request http://www.federalreserve.gov/econresdata/2013-report-economic-well-being-us-households-201407.pdf

  11. 401(k) - Loans and Early Withdrawals What are the downsides from doing this? • - Taxes • Early Withdrawal Penalties • Forced Payback • Lost Growth Potential

  12. How much thought have you given to the financial planning for your retirement? (by age) • http://www.federalreserve.gov/econresdata/2013-report-economic-well-being-us-households-201407.pdf

  13. Which one of the following best describes your plan for retirement? (by age) http://www.federalreserve.gov/econresdata/2013-report-economic-well-being-us-households-201407.pdf What is your overall Project Goal for retirement?

  14. What type(s) of retirement savings or pension do you (or your spouse/partner) have? (by age) http://www.federalreserve.gov/econresdata/2013-report-economic-well-being-us-households-201407.pdf

  15. Celebrities Who Have Gone Broke

  16. Celebrities Who Have Gone Broke

  17. Celebrities Who Have Gone Broke

  18. images.png

  19. Opportunity Cost

  20. P D C A What would happen if you did this in all areas of your life?

  21. Triple Constraints

  22. Project Homework

  23. QUE$TION$?

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