Category: Retirement

The Retirement Conundrum: How Can I Engage My Students In Such An Important Topic?

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Dec 13, 2017
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Index Funds, Investing, Retirement, Activities, Article, WebQuest
Ok, I know that retirement is a long way off for your students, which makes it difficult to engage them on the topic. What if the focus instead was on the actions that you students can take in their 20s to set themselves up well for that period far off into the future?  Here's a Washington Post article that lists five actions that 20-somethings can take to get a jumpstart on their "nest egg." Well, it turns out we have an NGPF resource recommendation for each of their tips. Thanks to...

Question of the Day: What's the average 401(k) balance for Americans?

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Dec 12, 2017
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Investing, Research, Retirement, Question of the Day, Current Events
Answer: $100,000 From Bloomberg (subscription): Questions: Do you think that $100,000 is enough of a "nest egg" for retirement? I know it is a long, long, long way off but how much do you think you will need to save for a comfortable retirement?  Is it better to start investing when you are young or to wait until you have the basics like a car and house taken care of before first? ----------- Here's the ready-to-use slides for this Question of the Day for your classroom. ------------...

What I'm Reading This Weekend (December 9-10)

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Dec 08, 2017
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Current Events, Cryptocurrencies, Retirement, Behavioral Finance
Thanks to Beth Tallman for curating such a great set of informative articles. Enjoy! Bitcoin crossed $16,000 (that's over 50% in less than a week); when will the bubble burst. WSJ still trying to figure out what's behind the meteoric rise (as am I). What's a Cryptokitty, anyway? Even for bitcoin, which is notoriously volatile, the upward lurch was jarring, astounding outsiders and thrilling those who have piled into the digital currency in recent weeks. The rally has been sparked by the...

Question of the Day: What percent of 14-21 year olds (Gen Z) are already saving for retirement?

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Dec 04, 2017
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Retirement, Current Events, Savings, Research
Answer: 12% From Center for Generational Kinetics 2017 study: In the national study, a surprising 12% of Gen Z is already saving for retirement. That is a much bigger number than one might anticipate given the youth of Gen Z in the study, who are ages 14 to 21. Diving further into the question, it was discovered that 35% of Gen Z plans to start saving for retirement when they are in their 20s. Questions: Have you thought about saving for retirement yet?  If yes, have you acted upon it? If...

Top 10 on NGPF Blog: What Are Teachers Reading?

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Nov 20, 2017
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Investing, Budgeting, Video Resource, Current Events, Retirement, Behavioral Finance
Here's what trending recently on the NGPF Blog: Chart of the Week: What is average credit score for 18-24 year olds? Hint: It takes good behaviors (and time) to perfect the credit scoring game.  Let's Go To The Videotape: 5 Personal Finance Documentaries to Consider. From professional athletes going to bust, to the retirement crisis we face in this country to the largest investment fraud of our time, this list has something for everyone.  NGPF Announces Scholarship...

What is the Most Popular Fund For Retirement Accounts?

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Oct 17, 2017
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Savings, Research, Retirement, Index Funds, Investing
Answer (with hat tip to Big Picture Blog who posted this research study 401(k)/IRA Holdings in 2016 published by the Center for Retirement Research): Target-Date Funds now used by 72% of participants in retirement plans at Vanguard. For more on Target Date funds, check out this NGPF primer with an activity idea too.  ----------------- Check out this NGPF Case Study: Compound My Interest in 401(k)s              ...

NGPF Podcast: Tim Talks To Ted Benna, "Father of the 401(k)"

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Oct 08, 2017
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Podcasts, Index Funds, Investing, Retirement, Compound Interest
401(k) plans have gone from 0 to about $5 trillion in assets in just 35 years. They have become THE dominant way that people save for retirement today as pensions have become a thing of the past. Today on the NGPF Podcast, you will hear from the "Father of the 401(k), Ted Benna." You will hear about his "aha moment" that led to the birth of the 401(k), the challenges of getting employers and employees to adopt the program in the early years and his opinion of 401(k) plans today. Enjoy! Details:...

Schools in the News

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Aug 31, 2017
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Schools In News, Retirement, Employment, Entrepreneurship, Lesson Idea
From bike socks to clinical trials, Centennial students are solving real-world problems (philly.com) Making socks on a sewing machine was probably the last thing 17-year-old Shaina Gatton thought she would be doing when she signed up for CentennialX,  Centennial School District’s innovative summer program that promised to pair students with high-tech industry mentors to solve real-world problems. For Saint Andrew graduate, school experience adds up to a job with The First...

Finance in My Life

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Aug 22, 2017
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Investing, Savings, Retirement, Student Loans
Just back from vacation and reflecting on various conversations that arose in the course of my travels. As anyone who has listened to my podcasts knows, I like to ask lots of questions but in the conversations described below, finances were brought up without my prompting. Here's what I heard: A 67 year old cab driver lamented the fact that he was collecting his Social Security check which wasn't enough. As a result, he had this side hustle driving a cab. "If I had only socked some money away...

Videos, Videos, Videos

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Jul 23, 2017
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Cryptocurrencies, Career, Stocks, Current Events, Video Resource, Entrepreneurship, Retirement
Stumbled upon this video trove on Ozy this morning that had some short, relevant and engaging videos that I thought your students might enjoy. Many of them ask provocative questions that can be good entry points for a class discussion: Future of Money (3:03) In your own words, what is bitcoin and other cryptocurrencies? Why is it popular? What is an example of an “intermediary” in the money business that bitcoin is trying to eliminate? Where do you think that you will keep your...

Video: How Can We Overcome Our Behavioral Biases Against Saving?

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Jul 12, 2017
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Behavioral Finance, Question of the Day, Savings, Current Events, Video Resource, Retirement
Hat tip to Vikram Parekh of USAA (podcast upcoming) for highlighting the work of one of his favorite behavioral economists, Shlomo Benartzi of UCLA’s Anderson School of Business. In this 17 minute TED video, Shlomo highlights the hurdles to saving and how he designed a savings program (“behavioral economics on steroids”) to overcome these challenges. He provides some good examples that you might use with your students to show how our behavioral biases cause us to fall short of...

What Are People Reading on the NGPF Blog?

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Jun 26, 2017
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Behavioral Finance, Credit Cards, Investing, Savings, Checking Accounts, Current Events, Quizzes, Compound Interest, Cryptocurrencies, Retirement
Getting close to the end of June, so I thought it was worth checking our website analytics to see what new blog posts are garnering attention as the school year wound down in many parts of the country. Here are the top 5: What is Bitcoin and How Does Cryptocurrency Work?: A Primer; NGPF’s newest team member, Hari Vasu-Devan tackled this challenging topic by providing educators with information they can access when the inevitable student query comes, “Should I be investing in...

Do Your Weekly Lunches Cost You $90,000 in Retirement Savings?

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Jun 14, 2017
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Chart of the Week, Behavioral Finance, Budgeting, Personal Finance, Article, Math, Retirement
“US households spent $3,008, or about $8.35 a day, on average, eating out in 2015… Investing $3,008 each year… would add up 30 years later to… more than $250,000.  Similarly, investing $3.50 a day for 30 years instead of buying a latte would add up to savings of nearly $107,000”. (USA Today, June 2017) _________ We all know that it is hard to save enough for retirement.  Financial education teachers also know that students sometimes struggle to relate decisions...

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