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Saving for the Future

Categories: Free, Saving
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About Course

This module provides a comprehensive overview of how to build a strong financial foundation by focusing on saving for the future. You’ll learn the difference between saving and investing, how to build and maintain an emergency fund, and how to plan for long-term goals like retirement. The module covers key concepts such as the power of compound interest and the different types of retirement accounts available, including 401(k), IRA, and Roth IRA plans. The goal is to provide you with the knowledge to make informed decisions and create a solid savings plan for a financially secure future.

What Will You Learn?

  • How to differentiate between saving and investing.
  • How to build and maintain an emergency fund.
  • How to set and achieve short-term and long-term savings goals.
  • The power of compound interest.
  • The key differences between various retirement accounts, including 401(k), IRA, and Roth IRA.
  • How to make informed decisions to create a solid savings plan.

Course Content

The Importance of Saving
The difference between saving and investing. Emergency savings fund (3-6 months of living expenses). Short-term vs. long-term savings goals.

Building Your Emergency Fund
Why an emergency fund is essential. Where to keep your emergency fund (high-yield savings accounts, money market accounts). Steps to build your emergency fund gradually.

Saving for Retirement
The power of compound interest. Employer-sponsored retirement plans vs. individual retirement accounts. Understanding the difference between traditional and Roth accounts.

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