Personal Finance Discussion

Answer EACH question in 75 words A PIECE. Use references, if needed and cite.

1. Embark on a virtual field trip. Researching online, explore different career fields that interest you. Share with your classmates which career field or fields you found most interesting. Why do you find it interesting? What is the salary range and average income for people working in that field? What level of education is required to work in that career field? How do your findings affect your career, educational, and financial plans?

2. Share an example of an Automatic Investment Plan (AIP) that you are familiar with or that you have researched. Explain how the chosen AIP works (where the money comes from and goes to, any fees or minimums associated with the account, how do you sign up). Why does/(doesn’t) this AIP make sense for most people, yourself included, to use?

3. What are the pros and cons of filing bankruptcy? What alternatives are out there? Is it moral not to pay creditors? When collectively considering the moral and long term implications for declaring bankruptcy, how wise of an action is it really?

4. Explain the role insurance plays in your financial situation. What are some steps you could take to better protect yourself and/or reduce your insurance costs?

5. Is Wall Street a casino or an investment in the future and why? Use examples to back your stances? What do you fear the most about Wall Street and investing in the stock market? Have you learned anything in this module that has helped you overcome that fear? Please explain.

6. When should you start to think about retirement and estate planning? When should you start taking action? Why? Have you already started taking steps toward retirement? If so, when and why? If not, when do you plan to begin? Why?

7. Review and reflect on what you learned from answering the previous questions. What is the most practical and easily applied lesson you learned? What was the hardest to grasp? Why?

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