Skip to main content

Personal Finance 2019: Day 4




Today in the personal finance J-Term Clark and Blake and I started by giving a presentation to the rest of the class about taxes and tax structures as well as the differences in deductibles you can get in different places. After this we had a discussion with the class where we shared different blogs and podcasts that we have listened to over the week such as Mr Money Mustache and NPR’s Planet Money. For me it was interesting to see the different types of blogs and podcasts and how they varied from short easy to understand ones to more specific and complex. After this we had our daily seminar on our readings where, among other things, we expanded our discussions on the value of tracking money when making a budget. This lets you figure out not only that you spent $200 a month on food, but $110 of it was specifically at CVS as opposed to what you thought was a small percent of your food budget. We were then given time to work on our life games, filling out as much as we could on expected income, housing costs, various other expenses and investments over the years from the start of college to a standard age 65 retirement.
      After lunch we watched a movie called The Big Short which is a true story about the housing bubble in 2008 and people who bet against the US economy by buying shorts which are basically bets against the bank that the market will decline. In the beginning of the movie there was a lot of backlash as people were confused why anyone would bet against the housing market which had never failed previously and the main characters investors tried to pull out. However, over the next year his bet became the reality and the recession of 2008 had begun. This movie was very funny in addition to doing an excellent job of describing how bad the recession of ‘08 was and how most people didn't see it coming because the banks tried to cover it up. This move was I think a perfect end to our week as it outlined markets and investments which we will start to cover in depth next week.

Comments

Post a Comment

Popular posts from this blog

Final Reflection

Nathaniel Samuels Dr. Ott Personal Finance January 28, 2019 Final Reflection In Personal Finance we learned many things from early in life dealing with student loans to later crossing the crossover point where you no longer have to work for money. My favorite part of the class was the hypothetical discussions of if you spend more some points of your mortgage or put more away to investments. It was very cool to see the effects from these and how some go from 200,000 to 1,000,000 in an extra 5 years of investing. In the life game at first I thought it would be unreasonable to have to predict finances 50 years in the future. As I continued it became easier and it became fun to see net worth go up and down as I bought a house and had children and then see the skyrocket at the end when my kids graduated and my mortgage was paid off.  With the rolls of the dice at first it made me go into crippling amounts of debt but as i rebalanced and took money out of an emergency fund...
3 comments
Read more

final reflection

Blake Peterson Dr. Ott Personal Finance 25 January 2019 Final Reflection     Over the past three weeks in personal financing I have learned a lot about the basics of financing and what to expect financially in the future. The things I found the most interesting was learning about investing and the life game. With investing we learned a lot about things like the stock market and also real estate investing. In stock market investing we had a speaker named Champ Warren, who is a financial consultant and investor. He talked about his method with investing and we looked at the market and analyzed if there was going to be a recession anytime soon. For investing we also started an Investopedia game and played it throughout the class. We also learned about the real estate side of investing. We had three people come and talk to us, each of them giving us a new perspective on real estate investing. My favorite part of the real estate investing was when we went to an apa...
Post a Comment
Read more

Reflection - Tommy

Final reflection Tommy Johnson This course, to me, was one of the most informative and productive class I've ever taking teaching life skills I am glad I know. I feel a lot more financially confident and prepared for life. We covered many of the financial concepts that everyone will eventually need to understand such as taxes, mortgages and debt, but to me the part of this course that will be most helpful in my life is the knowledge that some people will never know. the course is littered with tips and knowledge that will give everyone in the class a strong upper hand in the financial world throughout their entire life.
Post a Comment
Read more