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03 Financial Planning

03 Financial Planning - 1 Chapter 1 Chapter 1 1 Financial...

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Unformatted text preview: 1 Chapter 1 Chapter 1 1 Financial Planning: Financial Planning: The Ties That Bind The Ties That Bind Like I said……Money and Marriage… 2 What does a penny mean to you? • What will you have if you double a penny a day for 30 days? 3 days? ONLY……………… • $10,737,418.23 • (try this yourself: .01 * 100% for 30 periods 4 • If a tiny worthless penny can grow to be that much, imagine what 10% to 20% of your salary could grow to be? 5 • How ‘bout those acrylic nails? – $80 month * 12 = $960/year – For 30 years = $28,800 6 – That $960 invested each year at 11% for 30 years = $91,064!!! – Ladies, you are wearing your new dream car! 2 • What about your coffee? • Your recreational liquid consumption? • Do you smoke? 7 Java • $4.50 @ 3 per day = $13.5 • Per week = $94.5 • Per year = $4,914 8 • Invested per year for 10 years at 11% = $82,171 Alcohol • Average 45 drinks per month (college males) @ average $4.5 per drink = $202.50 9 • Per year $2,430 • Invested for 40 years at 11% = $1,413,837 Death Sticks • $21.65 Carton (Camels) • 1.5 cartons per week = $32.47 • Per year = $1,688.70 10 Per year $1,688.70 • Invested for 20 years @ 11% = $108,419 Think about it…. • Your habits TODAY determine your life style for tomorrow. 11 Why Should You Develop a Personal Financial Plan?...
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03 Financial Planning - 1 Chapter 1 Chapter 1 1 Financial...

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