TIMEMAPS™ Content
(Click Pics to view our Rigorous, Relevant & Comprehensive Content)
Basic Life Planning
40 years is approximately the number of years most students will be in the work force. However, without proper planning, 40 years can easily become 60 or more. The Basic Life Planning Theme teaches students over 2 Lessons about essential Life Planning concepts while emphasizing the importance of education, time and taking control of their future rather than simply letting the future happen.
The Three Phases of Life -
Life Planning is a relatively new concept, but it has become essential to financial success over the last decade. This lesson teaches students about the major Life Phases and how to plan for the future. Major topics include:
- The Developing Phase
- The Work Phase
- The Retirement Phase
- Life Phase Activities
- Time spent in each Phase
Students will complete Self Checks ( 2 ), Interactive Examples ( 4 ) and Interactive Exercises ( 1 ) to help them understand the Three Phases of Life.
The Importance of Time -
Everyone takes Time for granted, but it is a precious commodity and we have a limited amount of time in which to be successful. This lesson teaches students why time is important to their Personal Productivity and future success. Major topics include:
- Life Expectancy
- Personal Productivity
- Time Classifications
- What to do when you don't have enough TIME
Students will complete Self Checks ( 2 ), Interactive Examples ( 3 ) and Interactive Exercises ( 1 ) to help them understand the Importance of Time.
Money Basics
There are a handful of financial concepts that are fundamental to everything dealing with money thus, it is critical for students to know and understand them. The Money Basics Theme presents the financial concepts that are the foundation of virtually every financial transaction the students will encounter in the future.
Interest Basics -
Interest is powerful and the trick is having it work for you, not against you. This lesson is an introduction to the concept of Interest. Major topics include:
- What Interest is
- How Interest works
- Why it can be both helpful and dangerous
- How banks use Interest
- How Interest Rates are specified
- Why TIME is important to Interest
Students will complete Self Checks ( 3 ) and Interactive Examples ( 3 ) to help them understand Interest.
Simple Interest -
Most people will never use Simple Interest in a financial transaction, but many of them will use it in personal transactions. Major topics include:
- What Simple Interest is
- When it is used
- How Simple Interest Rates are specified
- How it is calculated
- the benefits of using Simple Interest
Students will complete Self Checks ( 2 ) and Interactive Examples ( 1 ) to help them understand Simple Interest.
The Power of Compound Interest -
Compound Interest is very powerful, but most people don’t believe the power of it until they actually experience it in either a positive or negative way. Major topics include:
- What Compound Interest is
- How it is used and how to calculate it
- How compounding and Compounding Periods affect Compound Interest
- Interest Rate definitions (nominal, period, effective, & APR)
- The benefits of Compound Interest
- The Rule of 72
Students will complete Self Checks ( 4 ), Interactive Examples ( 2 ) and Interactive Exercises ( 1 ) to help them understand Compound Interest.
The Time Value of Money -
Everyone takes Time for granted, but it is a precious commodity and we have a limited amount of time in which to be successful. This lesson teaches students why time is important to their Personal Productivity and future success. Major topics include:
- Life Expectancy
- Personal Productivity
- Time Classifications
- What to do when you don't have enough TIME
Students will complete Self Checks ( 2 ), Interactive Examples ( 3 ) and Interactive Exercises ( 1 ) to help them understand the Time Value of Money.
Living with Inflation -
Inflation is like a habitual thief constantly stealing the Purchasing Power of your money. Major topics include:
- What Inflation is
- How it is measured
- What causes Inflation
- How it affects Purchasing Power, Retirement, Investments and Banks
- How to prepare for the Effects of Inflation
Students will complete Self Checks ( 4 ), Interactive Examples ( 2 ) and Interactive Exercises ( 1 ) to help them understand Living with Inflation.
Career Paths
Selecting a career and developing career goals is essential to every student's future - the sooner they do this, the better. The Career Paths Theme allows students to explore the more than 1,100 careers and jobs presented in the software. It highlights the importance of education while teaching the students how to apply for a job, establish career goals and select the best job location.
Job Basics -
The average person has held 11 jobs by the time they turn age 44. This is evidence of the lack of preparation & planning by the typical person before entering the Work Force. This lesson teaches students why people work and helps students develop their career goals & select a career. Major topics include:
- Definitions of key Employment Terms
- Employee and Fringe Benefits
- Compensation, Entry-level Pay, and Total Compensation
- Unemployment
- Importance of Education in the work force
Students will complete Self Checks ( 5 ), Interactive Examples ( 3 ) and Interactive Exercises ( 1 ) to help them understand why people work and basic Work force components.
Career Exploration -
Selecting a Career without first defining their Career Goals is a common mistake most students make. Without preparation and planning, the majority of students tend to change their minds as they mature. Major topics include:
- Develop their Career Goals
- Explore different Careers and Career Paths
- Select a Career
- Identify and develop Job Skills
- Find and apply for a Job
- Prepare for the Job Interview
Students will complete Self Checks ( 4 ) and Interactive Examples ( 2 ) to help them understand how to prepare before entering the Work Force.
The Effects of Job Location -
A great job in a lousy location will soon become a NOT so great job. This lesson teaches students to select a Job Location based on the Cost-of-Living and Job Supply & Demand rather than peer-pressure and marketing. Major topics include:
- The Cost-of-Living in different locations
- How to judge the Supply & Demand for their skills
- Technology's affect on the supply & demand for jobs
Students will complete Self Checks ( 2 ), Interactive Examples ( 2 ) and Interactive Exercises ( 1 ) to help them understand how to select the best job location.
Applying for the Job -
Wouldn't it be great if a job magically found each of your students rather than them having to find a job? Yes, but don't count on that happening. This lesson teaches students how to get a job. Major topics include:
- The Job Search process
- Networking
- Preparing a Resume and a Cover Letter
- Getting a resume and cover letter to Potential Employers
- Preparing and dressing for the Job Interview
Students will complete Self Checks ( 5 ), and will use a Cover Letter and Resume Generator to learn how to prepare these important documents.
Taxes & Payroll Deductions
While taxes touch virtually every part of our lives, they are one of the financial concepts the average person knows the least about. The Taxes & Payroll Deductions Theme introduces the concept of taxes and helps students develop a working knowledge of how income, payroll, sales, property and hidden taxes will affect their income, lifestyle and future life planning.
Tax Basics -
It has been said 80% of people believe they pay too much in taxes and the other 20% know they do. Like it or not, taxes are an integral part of being an adult. Major topics include:
- What Taxes are
- Why we pay taxes
- The Major Types of taxes
- How Income and Sales Taxes work
- When Property Taxes are paid
- What Hidden Taxes are
Students will complete Self Checks ( 3 ), Interactive Examples ( 1 ) and Interactive Exercises ( 1 ) to help them understand what taxes are and how they will affect their future.
Income Taxes -
The most disliked day of the year is, and always will be, April 15th. The day when your income taxes are due. This lesson teaches students about the income related taxes people are required to pay. Major topics include:
- Federal Income Taxes
- Social Security Taxes
- Medicare Taxes
- State and Local Income Taxes
- Tax Freedom Day
Students will complete Self Checks ( 3 ) Interactive Examples ( 2 ) and Interactive Exercises ( 1 ) to learn how these taxes are calculated based on their income.
Sales & Hidden Taxes -
Paying 9 cents in sales tax on a $1 purchase doesn't faze people, but paying $90 on a $1,000 purchase surely gets their attention. Major topics include:
- What Sales Taxes are
- Who can levy sales taxes
- How and to whom they are paid
- Common Hidden Taxes people don't even know they are paying
- How to estimate their Total Tax Burden for a year
Students will complete Self Checks ( 3 ), and Interactive Examples ( 2 ) to help them understand Sales & Hidden Taxes.
Payroll Deductions -
Young people don't begin to think about Taxes until right after they have received their first Paycheck. Major topics include:
- Our system of collecting income-based taxes
- Payroll Deductions (required and voluntary)
- How Payroll and Income taxes are calculated
- Why their Take Home Pay is less than they are paid
Students will complete Self Checks ( 3 ), Interactive Examples ( 1 ) and Interactive Exercises ( 1 ) to help them understand Payroll Deductions.
The World of Banking
It has been estimated that 25% to 40% of our population do not use the services provided by traditional banks. The World of Banking Theme teaches students about banks and essential banking services. They will learn how banks work, how to select a bank and typical banking services. It highlights why banks are a safe place to keep and grow your money and the dangers of using Fringe Banking services such as Payday Lending and Title Loans.
Banking Basics -
Most students grow up in communities with multiple banks, but that doesn't mean they know how a bank works. Major topics include:
- What a Bank is
- How a Bank works
- When Banks are open
- Why they are located where they are
- How you can withdraw your money
- Why banks are important to the community
Students will complete Self Checks ( 4 ), Interactive Examples ( 1 ) and Interactive Exercises ( 1 ) to help them understand how important banks are to their financial future.
Keeping Banks Safe -
There have been more than 400 bank failures since 2008 and this sound terrible, but it represents less than 1% of the total number of banks. This lesson teaches students how the FED and FDIC keep banks safe. Major topics include:
- What a bank failure is
- The typical reasons a bank fails
- What happens to your money when a bank fails
- Why you should not be worried about the safety of banks
Students will complete Self Checks ( 3 ) Interactive Examples ( 1 ) and Interactive Exercises ( 1 ) to help them understand why banks are a safe place to keep their money.
Banking Services -
The primary problem with not having access to banking services is you need them so often. This lesson teaches students about the services typically provided by banks they will need in the future. Major topics include:
- Deposit accounts (checking and saving)
- Time Deposits (CD & GIC )
- Investments (retirement accounts, mutual funds)
- Loans (business, consumer & mortgage)
Students will complete Self Checks ( 3 ), Interactive Examples ( 2 ) and Interactive Exercises ( 2 ) to help them understand the many financial services offered by banks.
Selecting a Bank -
Selecting a bank is easy if there is only one bank where you live, otherwise it will take some effort on your part to make the best selection. Major topics include:
- How banks compete for customers
- Why it is important to shop around before selecting a bank
- Why they should always compare service fees
- Steps they should go through while selecting a bank
Students will complete Self Checks ( 3 ) and Interactive Exercises ( 1 ) to help them understand how to select the best bank for them.
Fringe Banking -
Today, there are more Fringe Banking outlets than McDonalds in the United States. Major topics include:
- What Fringe Banking is and why it is so popular
- How Fringe Banking compares to traditional banking
- Potential problems with using Fringe Banking
- The types of Fringe Banking businesses
- How a Pawnshop, Title Loan, Check Casher, Payday Lender & Sub-prime mortgages work
Students will complete Self Checks ( 4 ), Interactive Examples ( 2 ) and Interactive Exercises ( 1 ) to help them understand Fringe Banking.
Living on a Budget
Many believe the primary cause of the proliferation of debt problems today is individuals simply not living within their means. The Living on a Budget Theme teaches students what a budget is and why everyone needs to use a budget to ensure they are doing just that - living within their means. They will learn budget basics, how to create, use and maintain a budget to ensure they receive the maximum benefits from having and using a budget.
Budget Basics -
You should not take longer to create a budget than you are willing to spend using a budget. This lesson teaches students about budgets and highlights why everyone who is earning money should have and use one. Major topics include:
- What a budget is
- Budget terminology
- The life of a budget
- Benefits of using a budget
- Who needs a budget
- When you should begin using a budget
Students will complete Self Checks ( 3 ), Interactive Examples ( 1 ) and Interactive Exercises ( 1 ) to help them understand why having and using a budget is important.
Creating a Budget -
Many people create a budget after they have debt problems rather than before they have a debt problem. A budget will help you manage your debt, but it will also help you not get into debt. This lesson teaches students how to create a budget. Major topics include:
- Why they need a budget
- How to determine income and expenses
- Primary and secondary budget categories expenses
- How to make the hard decisions while creating a budget
Students will complete Self Checks ( 3 ) Interactive Examples ( 1 ) and Interactive Exercises ( 1 ) to help them understand the process of creating a budget.
Maintaining a Budget -
Yes, it takes time to maintain a budget, but the return on that time can be greater than the return on many investments. Major topics include:
- Budget maintenance
- Why emergency and additional savings are necessary
- Accounting for inflation
- Adjusting a budget
- Monitoring a budget to ensure it is working
Students will complete Self Checks ( 4 ) Interactive Examples ( 2 ) and Interactive Exercises ( 1 ) to help them understand how to maintain a budget.
Spending Decisions
There is a very strong connection between an individual's spending, debt and credit habits. The Spending Decisions Theme teaches students what spending, debt and credit are and the strong connection between all three. They will learn how to manage debt, establish their credit and responsibly use the different types of Credit Cards. Also, they will learn what Identity Theft is and the precautions they should take so it doesn't happen to them.
Spending, Debt & Credit -
Few people are taught how to spend money wisely, thus it is likely they may have debt and credit problems in the future. This lesson teaches students about the strong connection between spending, debt and credit. Major topics include:
- Spending basics
- Connection between spending, debt, & credit
- When and how to spend
- Typical spending patterns
- True cost of spending
- Relating spending to time spent working
Students will complete Self Checks ( 3 ), Interactive Examples ( 3 ) and Interactive Exercises ( 1 ) to help them understand how to spend money wisely.
Managing Debt -
Just about everyone has some debt, thus it is important to understand how to manage debt. Major topics include:
- Types of consumer debt
- Good and bad debt
- How to get out of debt
- Bankruptcy as a "last resort"
- Types of bankruptcy
Students will complete Self Checks ( 4 ) Interactive Examples ( 1 ) and Interactive Exercises ( 1 ) to help them understand how to manage their debt.
Establishing Credit -
Establishing credit can be a catch-22; businesses don't want to extend credit to you if you haven't already established your credit, but you can't establish your credit until businesses extend credit to you. Major topics include:
- What credit is
- Advantages & Disadvantages of having credit
- Consumer Protection Laws & Who they protect
- How Credit Bureaus provide Credit Reports & Scores
- Establishing credit & Using it wisely
- Repairing your credit
Students will complete Self Checks ( 4 ) Interactive Examples ( 1 ) and Interactive Exercises ( 1 ) to help them understand how to manage their debt.
The World of Credit Cards -
Most people either love or hate credit cards and most are guaranteed to change their opinion at least once in the future. Major topics include:
- What a credit card is
- Different types of credit cards
- How credit card interest is calculated
- Various fees charged
- Pertinent Consumer Protection Laws
- Dangers of using credit cards
Students will complete Self Checks ( 5 ) Interactive Examples ( 2 ) and Interactive Exercises ( 1 ) to help them understand the positive and negative aspects of credit cards.
Idenity Theft -
The term "Identity Theft" didn't even exist 20 years ago, but it does today and it is a very real problem that can take lots of time and a significant amount of money to overcome. Major topics include:
- What Identity Theft is
- Scams people use to steal someone's identity
- How to prevent their identity from being stolen
- How to recover from Identity Theft
Students will complete Self Checks ( 3 ) Interactive Examples ( 0 ) and Interactive Exercises ( 0 ) to help them understand what Identity Theft is and how to make sure it doesn't happen to them.
Investing for the Future
Investing is no longer only for the wealthy. Today, every worker needs to be an investor or they will never be able to retire. The Investing for the Future Theme teaches students about the basics of investing, the risks associated with investing, the different types of investments, how and when investments are taxed, and how to get started investing.
Investment Basics -
Everyone needs a working knowledge of investing and the sooner they get this knowledge, the better. This lesson teaches students the basics of investing. Major topics include:
- What an Investment is
- What Liquidity is
- What an Investment Market is
- Primary reasons to invest
- Why saving and investing go hand-in-hand
- Different types of investments
- How to begin investing
Students will complete Self Checks ( 4 ), Interactive Examples ( 1 ) and Interactive Exercises ( 1 ) to help them understand why investing is important and how to get started.
Investment Risks -
It is not a question of whether an investment has risk associated with it; it is a question of how much risk is associated with an investment. ALL investments involve risk. Students will learn about the types of risk associated with investing: Major topics include:
- Inflation risk
- Hidden investment costs risks
- Real estate risk
- Historical market risk
- Other types of investment risk
Students will complete Self Checks ( 3 ) and Interactive Examples ( 1 ) and Interactive Exercises ( 0 ) to help them understand the different types of risk associated with investing.
Low Risk Investments -
You probably aren't going to be the next Bill Gates using only low-risk investments, but you will surely sleep better at night. This lesson introduces students to low-risk investments. Major topics include:
- Deposit accounts (checking & savings(
- Money market accounts
- CD's
- T-Bills
- Real estate
Students will complete Self Checks ( 3 ) Interactive Examples ( 1 ) and Interactive Exercises ( 0 ) to help them understand the different types of low-risk investments.
Stocks, Bonds & Mutual Funds -
Say the term “investing” and everyone magically assumes you are talking about stocks, bonds and mutual funds, all of which are higher risk investments. This lesson teaches students about higher risk investments. Major topics include:
- Stocks, Bonds & Mutual Funds
- Securities & Exchange Commission (SEC)
- Transaction fees
- Stock investing
- Different types of stock
- What a Stock Index is
- Index Funds & ETFs
Students will complete Self Checks ( 4 ) Interactive Examples ( 2 ) and Interactive Exercises ( 2 ) to help them understand the higher risk investments.
Investment Taxes -
The more successful you are at investing, the more you should know about investment taxes. This lesson teaches students how their profits from investing will be taxed. Major topics include:
- Sources & Types of income
- Capital Gains & Losses
- Capital Gains taxes
- Tax-free investing
- Tax-deferred investing
- Real estate taxes
Students will complete Self Checks ( 4 ) Interactive Examples ( 1 ) and Interactive Exercises ( 0 ) to help them understand investment taxes.
Starting to Investment -
It is never too soon to begin investing - assuming you have a working knowledge of investments and investing. This lesson teaches students how to get started investing. Major topics include:
- Develop their investment goals
- Create their investment strategies
- Select a comfortable level of risk
- Research different investments
- Understand how important time is to investing
- How to get started investing
Students will complete Self Checks ( 4 ) Interactive Examples ( 0 ) and Interactive Exercises ( 2 ) to help them understand how to get started investing.
Automobiles
Automobiles are important to students because they represent the ability to move about freely. The Automobiles Theme teaches students about purchasing, owning and operating a vehicle. Students will learn about automobile basics, how to responsibly purchase a vehicle and the total cost of owning and operating a vehicle on an annual basis.
Automobile Basics -
The desire to get that first car has changed over the years. 25 years ago, students simply wanted a car; today, they want a "new" car. This lesson prepares students to purchase their first vehicle. Major topics include:
- Cost of typical vehicles
- How most vehicles are paid for
- How an auto loan works
- Auto purchasing terminology
- How an auto lease works
Students will complete Self Checks ( 4 ), Interactive Examples ( 1 ) and Interactive Exercises ( 1 ) to help them develop a working knowledge of how to purchase an automobile.
Purchasing a Vehicle -
If done right, going through the process of buying a vehicle can be very educational - try to take shortcuts and it will probably be a disaster. This lesson walks students through the process of purchasing their first vehicle. Major topics include:
- Loan standards
- Purchase options
- Importance of shopping around
- How to compare new/used vehicles
- Types of vehicles and options
- How to research vehicles
- Why the test drive is important
- How to negotiate the price
Students will complete Self Checks ( 4 ) and Interactive Examples ( 4 ) and Interactive Exercises ( 0 ) to help them understand the correct way to purchase their first vehicle.
True Cost of Owning a Vehicle -
Few people know the total cost of owning and operating a vehicle. Many simply consider the monthly payment as the total cost. This lesson teaches students about the total or true cost of owning and operating a vehicle and what contributes to the total cost. Major topics include:
- Loan parameters (down payment, interest rate and term)
- Vehicle depreciation
- Insurance costs
- Tag / title / taxes
- Gasoline / oil
- Maintenance and repair costs
Students will complete Self Checks ( 3 ) Interactive Examples ( 1 ) and Interactive Exercises ( 1 ) to help them understand the total cost of owning and operating a vehicle.
Houses & Homes
Even after the collapse of the housing market in 2008, buying a home is still considered a relatively good, safe investment by knowledgeable people. The Houses and Homes Theme teaches students what they should do to before they buy a home, the steps they will go through to buy a home, how different home mortgages work and why the total cost of owning a home is much greater than just the monthly house payment.
Home Basics -
The average age of first-time home buyers has gone down, but the cost of homes has gone up over the years. This lesson introduces students to the concept of homeownership. Major topics include:
- Different types of homes
- What the typical home is
- Why owning a home is attractive to many
- Average & Median cost of homes
- New vs. Existing home prices
- How the fair market value is determined
- What happens to the value of a home after it is purchased
Students will complete Self Checks ( 4 ), Interactive Examples ( 1 ) and Interactive Exercises ( 1 ) to help them understand the concept of homeownership.
Preparing to Buy -
There is a lot of work that should be done before even thinking about buying a home. This lesson teaches students about what they should do so they will be ready to start the process of buying a home. Major topics include:
- Make the decision to buy
- Complete the preliminary work
- Determine how much home they can afford
- Select home features
- Check out first-time home buyer programs
- Selecting a real estate agent & a mortgage lender
Students will complete Self Checks ( 4 ) and Interactive Examples ( 2 ) and Interactive Exercises ( 1 ) to help them understand what they must do before they are ready to buy a home.
Closing the Deal -
The home buying process can be time consuming and intimidating. Especially, if you don't know anything about it. This lesson teaches students the steps they will go through to actually purchase a home. Major topics include:
- How to make an offer to a seller
- Schedule closing
- Purchase homeowner's insurance
- Prepare for what happens at closing
- Plan for items that must be paid at closing
- Determine whether to pay discount points at closing
Students will complete Self Checks ( 3 ) Interactive Examples ( 2 ) and Interactive Exercises ( 0 ) to help them understand what it takes to actually become a homeowner.
Home Mortgages -
Thankfully, some of the most problematic home mortgages have gone away since the collapse of the housing industry in 2008, but any mortgage can cause problems if you don't understand how it works. This lesson gives students a basic understanding of home mortgages. Major topics include:
- What a home mortgage is
- Common types of home mortgages
- Common home mortgage mistakes
- How conventional & government mortgages differ
- How loan amortization works
- Factors affecting all home mortgages
Students will complete Self Checks ( 5 ) Interactive Examples ( 0 ) and Interactive Exercises ( 3 ) to help them understand home mortgages.
True cost of Owning a Home -
Most home buyers don't have a clue as to the total cost of owning a home until they have lived in the home for several years. This lesson teaches student about the component costs that make up the total cost of owning a home. Major topics include:
- Components of the total cost
- What home equity is
- Tax advantages of owning
- Cost of home maintenance & repairs
- Miscellaneous owner costs
Students will complete Self Checks ( 4 ) Interactive Examples ( 1 ) and Interactive Exercises ( 1 ) to help them understand the total cost of homeownership.
Insurance
Insurance is a risk management tool and all students should have a working knowledge of the major types of insurance before they need or purchase them. The Insurance Theme teaches students the insurance basics and the four major types of insurance most people purchase during their lifetime - health, life, auto and home insurance.
Insurance Basics -
Purchasing insurance is a way to manage risk, but if you want to live dangerously, try going through life without any insurance. This lesson teaches students about the common types of insurance they may need. Major topics include:
- What insurance is
- Why some people don't have insurance
- Basic types most needed
- What the Department of Insurance does
- How to purchase insurance
- How much insurance costs
- Who needs insurance
- Things that increase the cost
Students will complete Self Checks ( 3 ), Interactive Examples ( 2 ) and Interactive Exercises ( 0 ) to help them understand the concept of insurance.
Health Insurance -
The future of health insurance in the United States currently rests in the hands of the Supreme Court. This lesson teaches students about health insurance and highlights the need for everyone to have it. Major topics covered are:
- What health insurance is
- How much it costs
- Different types of health plans
- What is not traditionally covered
- How to get health insurance
- How health plans work
- Terminology specific to health insurance
Students will complete Self Checks ( 4 ) and Interactive Examples ( 1 ) and Interactive Exercises ( 1 ) to help them understand health insurance.
Life Insurance -
If you earn 1.5 million dollars during your lifetime, doesn't it make sense to have at least that much life insurance? Maybe, if you can afford it and actually need that much. This lesson teaches students about the importance of life insurance. Major topics include:
- What Life Insurance is
- Primary types of life insurance
- Who needs each type
- How to determine how much is need
- How to purchase life insurance.
Students will complete Self Checks ( 4 ) Interactive Examples ( 1 ) and Interactive Exercises ( 1 ) to help them understand life insurance.
Auto Insurance -
It's a fact that teenagers and young adults will pay more for auto insurance until they are 26 years old because the driving history of this age group is worse than other groups. This lesson teaches students about auto insurance. Major topics include:
- Why auto insurance is needed
- The primary types of auto insurance
- How to purchase it
- How much it typically costs
- How to minimize your cost
- Other important topics about auto insurance
Students will complete Self Checks ( 4 ) Interactive Examples ( 1 ) and Interactive Exercises ( 1 ) to help them understand auto insurance.
Home Insurance -
It seems we have experienced more natural disasters in the last 10 years, but the numbers are relatively constant. This simply means some are going happen somewhere each year. This lesson teaches students about the importance of having homeowner's insurance. Major topics include:
- What Homeowner's Insurance is
- Components of homeowner's insurance
- Where and how to get it
- How to minimize the cost
- Why renter's insurance may be needed
Students will complete Self Checks ( 4 ) Interactive Examples ( 3 ) and Interactive Exercises ( 0 ) to help them understand homeowner's insurance.
Retirement Planning -
Today, teaching high school students about retirement is very important given 7 of every 10 retirement age adults are currently unable to retire. The Retirement Planning Theme teaches students about basic retirement concepts, Social Security, popular retirement plans, taxes during retirement and why it is critical for them to start saving for retirement as soon as possible.
Retirement Basics -
Retirement doesn't seem important to students that have not yet completed their education, but it should be. Based on current statistics, more than ½ of them won't be able to retire when they reach retirement age. This lesson teaches student about retirement. Major topics include:
- What Retirement is
- How long retirement lasts
- Where retirement income comes from
- Why retirement planning is important
- How much they should be saving for their retirement
- Inflation's affect on retirement
- Common retirement planning mistakes
Students will complete Self Checks ( 4 ), Interactive Examples ( 2 ) and Interactive Exercises ( 1 ) to help them understand the concept of retirement.
Social Security -
Most students will pay Social Security taxes for 40 or more years, but they can potentially get back more than what they paid in. The following topics are presented to teach students about Social Security. Major topics covered are:
- What Social Security is
- The Components of Social Security
- How it is funded
- Retirement benefits provided by it
- When they are eligible to draw benefits
- How the benefits are calculated
- Whether the benefits will be taxed
Students will complete Self Checks ( 4 ) and Interactive Examples ( 2 ) and Interactive Exercises ( 1 ) to help them understand Social Security.
Retirement Plans -
Most students are not going to be offered a pension plan when they enter the work force, thus they need to know more about retirement plans than previous generations. This lesson teaches students about the common retirement plans available today. Major topics include:
- Importance of developing retirement goals
- What it means and takes to retire early
- The amount of money they will need in retirement
- How common retirement plans work
- How a traditional pension plan works
Students will complete Self Checks ( 3 ) Interactive Examples ( 1 ) and Interactive Exercises ( 1 ) to help them understand retirement plans.
401(k) -
Everyone loves a 401(k) in a bull market, but their attitude really changes in a bear market. This lesson teaches students about the most popular type of retirement plan today, a 401(k). Major topics include:
- What a 401(k) is
- How they work
- Advantages & Disadvantages of 401(k)'s
- Contribution limits
- When you can withdraw your money
Students will complete Self Checks ( 4 ) Interactive Examples ( 1 ) and Interactive Exercises ( 0 ) to help them understand how a 401(k) works.
IRA & Roth IRA -
The problem with the IRA & Roth IRA is the worker has to make the annual contributions rather than their employer. None of the money comes from the employer. This lesson teaches students about an IRA & Roth IRA. Major topics include:
- What an IRA & a Roth IRA are
- How both work
- Advantages & Disadvantages of each
- Contribution limits for each
- Whether contributions are tax-deferred
- When they can withdraw the money
Students will complete Self Checks ( 3 ) Interactive Examples ( 1 ) and Interactive Exercises ( 1 ) to help them understand how an IRA & a Roth IRA work.
Retirement & Taxes -
Taxes during retirement are important because no one wants to use their retirement income to pay income taxes. This lesson teaches students about the taxes they will have to pay during retirement. Major topics include:
- Taxes paid in retirement
- Tax-deferrals affect on retirement taxes
- Taxes paid on Social Security benefits
- Potential tax rates
- How retirement plans are taxed during retirement
Students will complete Self Checks ( 4 ) Interactive Examples ( 1 ) and Interactive Exercises ( 1 ) to help them understand how taxes will affect them during retirement.