saving & investing for beginners
TRANSCRIPT
Saving & Investing for Beginners:Where to Start
Want to start saving and planning for your financial future? Not sure where to start?
This presentation will provide overview of the most fundamental savings and investment options.
With a little knowledge, you can determine the direction that best suits you!!
Basic Savings & Investment OptionsSavings AccountCertificate of Deposit (CD)401(k)
Savings AccountMost traditional way to save
money.Simple terms: deposit money,
withdraw if needed, earn small amount of interest in the process
Few limitationsServes variety of saving needs
(emergency fund, down payment on first home)
Certificate of Deposit (CD)Allows your money to make
moneyGreater interest return than
savings accountLocked into term. Withdrawal
may be made with penalty.
401(k) Investment optionIndividual investment packages are
usually determined by age and risk tolerance
Allows employee to take advantage of employer contributions (free money!)
Referred to as “Retirement Account” because contributor has access to funds, without penalty, at age 59 ½
Take time to do a little research on the options and start down the road to a bright financial future!