Informative Speech - Financial Planning Essay

655 Words Apr 16th, 2012 3 Pages

Financial Planning for your Future

Purpose: To inform the audience about how small sacrifices today can result in huge dividends in retirement.

Thesis: Today I will inform the audience of the power of saving small amounts of money for the future and how compound interest works in their favor when they start saving as soon as possible.

Organizational Pattern: Topical


A. Attention Getter Who wants to be a millionaire? You can be!!! B. Relevance Everyone is faced with the prospect of living their “golden” years without a paycheck. Social Security will very likely NOT be available to people currently younger than 40 and if it does survive will not be a
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The real opportunity in 401K is the employee match program where your employer invests the same amount into your account, usually up to a certain percentage. 3. Individual Retirement Accounts (IRAs) are another way to save for retirement. They can be used independently or in conjunction with a 401K plan. Funds are deposited after taxes have been withheld so there is no tax due upon withdrawal in retirement. IRA contributions can be withdrawn without penalty if you face a financial hardship such as losing your home or significant medical bills.

Transition My final point is a strategy that can meet your goal while minimizing impact on your current lifestyle.

1. Many of you are working toward new careers and excited about that first REAL paycheck. 2. If you “forget” about the percentage of your check that is going into the 401K and structure your budget on the remaining amount you will find saving easy and rewarding. 3. Begin with 3% of your pay going into retirement savings. Each raise/promotion you get increase it by 1% until you have reached your employer’s maximum match rate. Then add the 1% into an IRA until you have reached the percentage that results in your desired retirement account.

Transition In conclusion,

II. Conclusion

A. I have discussed when to start saving for retirement,

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