Debt, Risk, and Retirement Planning

This unit equips students with practical skills to manage debt and credit, select insurance and consumer-protection strategies, and begin building tax-advantaged savings and investment accounts. Students will practice using tax and recordkeeping resources, compare policy and investment options, and prepare basic estate and contingency plans to protect financial wellbeing.

Learning Objectives

• Analyze credit reports and scores to identify inaccuracies and risk factors, and develop a prioritized debt-reduction plan using at least three strategies (e.g., snowball, avalanche, consolidation) with actionable steps and timelines.
• Evaluate personal insurance needs (homeowner’s property, personal injury, individual vs. group coverage) by comparing at least two policies and calculating recommended coverage amounts for a provided household scenario.
• Apply retirement and investment principles to select and set up appropriate tax-advantaged accounts (401(k), IRA, 529), choose suitable investment vehicles (bonds, mutual funds, brokerage types), and justify an asset allocation for a given age and financial goal.
• Demonstrate use of IRS publications and online resources to organize tax and financial records, explain consumer-protection options (identity-theft response, credit-repair laws, bankruptcy implications), and outline basic estate planning choices (will vs. trust) for a case study.