Some Thoughts on Personal Finance

This was a quick lecture I meant to give to my FINA 469 students @UofSC, an Introduction to Investing course. We ran out of time, so I'm making these slides available on Steemit.com and will expand on the points in writing instead of in lecture. Have fun and take personal finance seriously, because it absolutely affects your entire life!

You can download the slides to get the URL links, some of them humorous and others useful.

Feel free to reach out via Twitter @robviglione or follow my blog: https://steemit.com/@finpunk

https://steemit.com/finance/@finpunk/some-thoughts-on-personal-finance-and-alt-lifestyles-a-university-lecture-i-never-gave

Transcript

1. Some Thoughts on Personal Finance 0 Robert Viglione
2. 1-2 The Topics • Don’t buy stuff you cannot afford! • Your money or your life – the real trade-off • Budgeting basics • How technology turbocharges budgeting • Roboadvisers are the new game changers • Alternative lifestyles
3. 1-3 Don’t Buy Stuff You Cannot Afford • Savings is not only critical to the economy, but is an essential part of your own life planning • You must either be endowed with more money than you’ll need, or you must live within means • The purpose of saving is to smooth consumption over your lifetime • https://www.youtube.com/watch?v=Qb8hTzUoI54
4. 1-4 Your Money or Your Life • Most of us trade our time for money • You can view everything you buy in terms of the time it took to earn it • For someone who nets $25/hr, works 1990 hours per year (~$70,000 annual income) • A $100 bar tab costs 4 hours of life • A $500 TV costs 20 hours of life • A $25,000 car costs 1,000 hours of life • “Your Money or Your Life” by Vicki Robin • https://www.amazon.com/Your-Money-Life-Transforming- Relationship/dp/0143115766
5. 1-5 Budgeting Basics • You can’t manage something you don’t track • Define realistic requirements, include risk • Be flexible but have some hard targets • Sometimes you just need more money! • Tools to help: • Excel to forecast • Mint to track • Budgeting blogs
6. 1-6 The Roboadvisor Revolution • Financial advising meets the 21st century • AI management of your portfolio • You set retirement targets and risk tolerance • Lump sum & regular transfers • The robot allocates and manages your portfolio for you, constant monitoring • Wealthfront & Betterment are Top 2 • https://www.nerdwallet.com/blog/investing/best-robo-advisors/
7. 1-7 Alternative Lifestyles • Mini-retirements throughout your life • “The Four-Hour Work Week” by Tim Ferris • http://fourhourworkweek.com • Retire young • How This Couple Retired In Their 30s • Things to do after retiring early • 9 things people who retire early do • Vagabonding • The Perpetual Traveler (PT) lifestyle • International Man • The Sovereign Man