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School presentation - Money 101
This seminar, presented by Brett Surman from AMP Financial Planning, provides general financial advice encouraging individuals to identify and document their financial goals and manage their money wisely. It emphasizes the importance of budgeting, the effects of time on investment growth, and differentiates between bad and good debt. Additionally, it highlights the need for protection against unforeseen circumstances and urges participants to seek professional financial advice.
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School presentation - Money 101
- 2. disclaimer This seminar ispresented by Brett Surman as an Authorised Representative of AMP Financial Planning Pty Limited, ABN 89 051 208 327 (“AMPFP”), AFS License No. 232706. Any advice contained in this seminar is of a general nature only and does not constitute personal advice. In preparing the advice no account was taken of the objectives, financial situation or particular needs of any particular person or group. Therefore, before making any decision, readers should consider the appropriateness of the information with regard to their own situation. Although the information provided in this seminar was obtained from sources considered to be reliable, AMPFP and Provident Financial Services do not guarantee that it is accurate or complete. Therefore readers should not rely upon this information when making decisions. AMP does not accept any liability for any resulting loss or damage suffered by a reader or by any other person.
- 3. Whoever said moneycan’t buy happiness was obviously spending it on the wrong things! - Some rich guy
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- 5. 1 What things are importantto you? 2 When do you want to achieve them? 3 How much money will you need? 4 Write it all down!
- 6. Future goals GOAL COSTWHEN 1 Buy Samsung Galaxy S4 mobile $400 6 months 2 Contiki trip to Europe for 3 weeks $3,000 2 years 3 Buy second-hand car $6,000 3 years 4 Move out of home into own apartment $5,000 6 years 5 Save deposit to buy first property $60,000 10 years
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- 8. Meet Callie Rogers she won $3,000,000 atthe age of 16!
- 9. • Use separatebank accounts • Setup automatic transfers • Out of sight out of mind Bank smarter • Living Expenses • Lifestyle Expenses • Future Expenses Create a budget Good money management • Know where your money is going • www.getpocketbook.com Track your spending
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- 11. $0 $5,000 $10,000 $15,000 $20,000 $25,000 21 23 2527 29 31 33 35 37 39 41 43 45 47 49 51 53 55 Mark David … David starts later but invests $1,000 a year for 25 years Mark starts early and invests $1,000 a year for 10 years …
- 12. $0 $20,000 $40,000 $60,000 $80,000 $100,000 $120,000 Mark David Growth (8%) Savings Markstarts early and uses $10,000 to make $107,144 David starts later and uses $25,000 to make $78,954
- 13. Government co-contribution If you earnup to $31,920pa the Federal Government pays 50 cents for every dollar you contribute to your super fund in after-tax dollars, up to a maximum of $500 a year. To get the maximum $500 per year, you need to put in $1,000 per year as an after tax contribution. If you earn between $31,920 - $46,920pa, your co-contribution entitlement reduces by 3.33 cents for every dollar you earn over $31,920.
- 14. $0 $30,000 $60,000 $90,000 $120,000 $150,000 $180,000 With Without Growth (8%) Co-Contribution Savings $160,722 $107,144 Theeffect of Mark receiving the co-contribution for first 10 years…
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- 16. Bad debt is moneyyou borrow to buy things which decline in value such as clothes, cars and beer! Good debt is money you borrow to invest in assets that produce income or grow in value such as property and shares.
- 17. The longer theterm of the loan the more you pay. $0 $250,000 $500,000 $750,000 $1,000,000 $1,250,000 Home Loan - 30yrs Home Loan - 25yrs Interest (6.0%) Loan Adding just 5 years onto the loan term adds $112,739
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- 19. By the ageof 85, 1 in 2 men and 1 in 3 women will have been diagnosed with cancer at some stage of their life For every 1home lost to fire there are 4 homes lost to death and 48 homes lost to disability What are the chances? Car being stolen and not recovered… 1 in 800 Making a claim on your home or contents… 1 in 13 Being diagnosed with a serious illness… 3 in 4
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- 21. What do youneed to remember? Determine your goals1 Beware the debt trap4 Time is money3 Get help from your team6 Protect yourself5Good money management2
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