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Financial Planning: Achieving Wealth Through Knowledge and Frugality, Slides of Fundamentals of E-Commerce

Valuable insights for individuals looking to take control of their financial future. It covers the importance of gaining financial knowledge, getting involved in family investment decisions, developing a financial plan, and seeking professional help when needed. Additionally, it discusses the unique financial considerations for women, the importance of communication and planning in marriage, and the significant costs associated with raising children. The document also emphasizes the benefits of frugality and making the choice to become wealthy.

Typology: Slides

2012/2013

Uploaded on 07/29/2013

sharad_984
sharad_984 🇮🇳

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Take Responsibility for Your
Financial Future
Gain knowledge.
Get involved in family
investment decisions.
Develop and implement
your financial plan.
Seek professional help
if you lack confidence
to act.
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Download Financial Planning: Achieving Wealth Through Knowledge and Frugality and more Slides Fundamentals of E-Commerce in PDF only on Docsity!

Take Responsibility for Your

Financial Future

Gain knowledge.

Get involved in familyinvestment decisions. - Develop and implementyour financial plan. - Seek professional helpif you lack confidenceto act.

Financial Principles Are Gender-

Neutral, But Women Should

Recognize that you live longer and may bedivorced.

Get involved in your husband’s pensiondecisions.

Fund retirement plans and IRAs to the max.

See a financial planner, if needed.

Life Events: Marriage (cont’d)

Talk, talk, talk about your financial situation.

Seek help from a professional.

A financial planner

A financial counselor - National Foundation for Consumer Credit - Debt Counselors of America, now Myvesta.com

Life Events: Marriage (cont’d)

Two other importantdecisions

Joint or separatechecking account(s) - Joint or separate creditcards

Life Events: Children (cont’d)

How do you prepare?

Keep your insurance current and premiums paid –health, life, and disability

Consider a tax-free flexible spending account - Maintain adequate income and savings - Update your will and name a guardian - Review your financial plan - Start saving for education costs

Keys to Financial Success

How the rich become rich

Understand the difference in income and wealth

Live like a millionaire – practice frugality

Choose wealth – consider the 12 decisions

Choose Wealth #1: Become

Knowledgeable

Knowledge

Makes it easier toavoid financial pitfallsand bad advice. - Spurs yourcommitment. - Helps you handlemoney surprises.