Investing Unit 8: Action Steps



Image:Check.gif Check off the steps after you have completed them.

Image:Square.gif Increase contributions to your tax-deferred plan each time your pay increases.
Image:Square.gif Establish and maintain a reserve emergency fund (See Unit 1 for details).
Image:Square.gif Reduce household expenses to free up money to invest (See Unit 3 for details).
Image:Square.gif Make a list of financial goals (e.g., retirement, college) using the “SMART Financial Goal-Setting Worksheet” in Unit 1. Match the goals with appropriate investments.
Image:Square.gif Investigate investment options available through your employer [e.g., 401(k) and savings bond purchase plans].
Image:Square.gif Attend an employer-sponsored investment seminar or classes sponsored by Cooperative Extension or financial services firms.
Image:Square.gif Calculate whether a traditional or Roth IRA is best for you, based on individual factors such as household income and age.
Image:Square.gif Identify at least three “shoestring” investments that match your goals and available cash flow.
Image:Square.gif Research these investments and compare at least three specific products (e.g., three large company growth funds). Use the “Shoestring Investment Comparison Worksheet” to record the key features of each.
Image:Square.gif Dollar-cost average mutual fund purchases and/or enroll in an automatic investment program.