Savings and Retirement
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Case 2: Planning for the Future: Savings and Retirement
Tasks:
- Financial planning (savings and retirement)
- Compound interest and how it works
- Risk tolerance in investing
- Analyzing data when investing
Questions
- In the case, George had Marcy and Dan decide whether they would rather have $1 million today or receive a penny that doubled in price every day for 30 days. How much would Dan and Marcy have if they took the penny option?
- George told Dan and Marcy that there is a relationship between the amount of risk in an investment and the amount of potential reward in an investment. In your own words and experience, give an example that highlights this idea.
- Imagine that you plan to retire at age 65. What risk profile (risky, moderate risk, conservative) would you most likely consider at age 25? What about at age 35? What about at age 55?
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