starting your career off right the job offer take your time salary ocheck out surveys otalk to...
TRANSCRIPT
The Job Offer
• Take your time• Salary
o Check out surveyso Talk to recruiterso Scan job postingso Ask friends and associates
• What can you expect?• Vacation and other perks
The Job Offer—Benefits
• Insuranceo Medical
o Prescription drug coverageo Visiono Dental
o Disabilityo Life
• Your contributions
The Job Offer
• Company background• Favorable industry• Your interest• Job duties• Advancement opportunities• Corporate culture• Supervisor
Achieving Your Financial Goals
• Set clear goals• Resolve to spend less• Create an emergency fund• Make saving a priority
Achieving Your Financial Goals
• Reduce credit card debt• Evaluate your insurance coverage• Think taxes
Budgeting
• Discretionary expenses• Total it up• Increase your savings• Programs like Quicken can help
Student Loans
• The sooner, the better• Grace period• Repayment options
o 10 years
• Budget• Don’t default
Credit Cards
• Don’t exceed your credit limit• Review statements carefully• Report lost or stolen cards immediately• Protect personal information
Savings and Investing
• Start small• Contribute to your retirement plan• Save through payroll deduction plans• Set up an automatic investment plan• Round up your mortgage
Savings and Investing
• Bank your raises• Keep paying off a loan• Pay off your credit cards• Reinvest dividends• Keep track of where the money goes
Investing in Your Future
• Asset allocation is ongoing• Diversification• Life circumstances• Investment goals, timeframe and tolerance
Protecting Your Family Through Insurance
• Life insurance• Choosing coverage
o How much can you afford?o How much is needed?o For how long?o Protection or investment?
Term vs. Permanent
• Termo Largest death benefit for the dollaro Annual renewable and level premiumo Return-of-premium
Term vs. Permanent
• Permanento Combines a death benefit with an investmento Part of the premium is invested, building cash valueo Higher premiumso Whole life, universal or variable life
Long-Term Disability Insurance
• Benefit Amount• Term of Benefits• Elimination Period• Noncancelable• Guaranteed Renewables• Own Occupation or Any Occupation
Government-sponsored Disability Benefits
• Workers’ Compensation• Social Security Disability• Veterans Benefits• Federal Employees Retirement System
Get Tax Smart
• Get credit for care• Make retirement plan contributions• Improve your recordkeeping• Plan your investment gains
Adapted from American Red Cross, Financial Preparations
Protect Your Property
• Install smoke detectors• Elevate utilities to upper floor • Clear surrounding brush• Secure objects that could fall
Adapted from American Red Cross, Financial Preparations
Do a Thorough Home Inventory
• Record location of all original documents• Make visual record of your possessions• Record model and serial numbers
Adapted from American Red Cross, Financial Preparations
Do a Thorough Home Inventory
• Photograph home exterior• Make copies of receipts• Get professional appraisals
Adapted from American Red Cross, Financial Preparations
Insurance for Your Home
• Replacement coverage• Reappraisals• Replacement cost of possessions• State-operated; Federally operated pools
Adapted from American Red Cross, Financial Preparations
Insurance if You Rent
• Location• Renter’s insurance• Comparison shop
Adapted from American Red Cross, Financial Preparations
Cash & Personal Belongings
• Stash some cash• Emergency fund• Credit card • Evacuation box• Safe deposit box