Title: Identify savings and investment options.
Course: Independent Living (22904-18)

Identification should include

- defining saving and investing
- discussing the risk-to-reward relationship, diversification, and Rule of 72
- investigating and comparing savings and investment options, including
  - after-tax and tax-advantaged personal savings vehicles, for example
    - 401(k) plans
    - 403(b) or tax-sheltered annuity (TSA) plans
    - individual retirement account (IRA)
  - stocks
  - bonds
  - real estate
  - mutual funds
  - retirement accounts
  - savings accounts
  - collectibles and/or valuables
  - money market accounts
  - prepaid tuition plans
- investigating the purpose of estate planning
- evaluating the use of retail investing apps (e.g., Robin Hood).

Teacher Resources:

- Empowering Futures, One Dollar at a Time, Virginia Council on Economic Education
- Teen Teach-In, Virginia Events Jump$tart! Financial Smarts for Students
- Invest in What's Next: Your Career and Education Pathways, Federal Reserve Education
- EconEdLink
- Next Gen Personal Finance
- Financial and budget reports, IRS
- Financial Fitness, FCCLA

Process/Skill Questions:

Thinking

- What is the difference between saving and investing?
- When is the right time to begin saving? Investing?

Communication

- What is a better way to increase one’s wealth: to save more or to get a better return on investment?

Leadership

- How much more would a traditional IRA earn than a basic savings plan?

Management

- What determines the value of a stock?
- What options are available to individuals who wish to invest in stocks?