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SmartChange™
Presented by Tony Aguilar
Founder of Amiti Advising
Amiti Advising loves you. © 2011
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Tony Aguilar• Indiana University
• Finance, business law, economics
• Professional Poker Player
• Financial Advisor 3+ Years
Twitter• @TonyAguilar• @AmitiAdvising
Amiti Advising loves you. © 2011
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amitiadvisingFirst affordable financial advising firm that is focused on young professionals, young families, & college students.
Our goal is simple, to make quality financial education, guidance, & support accessible to everyone.
Amity - A friendly relationship; friendship.
www.LiveYoungLiveSmart.com
Live Young | Live Smart™
Amiti Advising loves you. © 2011
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Overview• What’s your money
personality?• Tools for Building Your
Financial House• Save or Pay-off Debt?• Credit Crunch• Intelligent Investing
Amiti Advising loves you. © 2011
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Take out your cell phones
Text questions to 96362.Text ‘Amiti’ followed by your question.
Amiti Advising loves you. © 2011
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GoalsLong-Term20+ Years
__________________________
Intermediate6-20 Years
__________________________
Short-Term1-5 Years
Amiti Advising loves you. © 2011
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WHAT IS YOUR MONEY PERSONALITY?
Whitney ‘Why Am I Sitting in this Seminar’
Campbell
Penny ‘the Pincher’
Patterson
Will ‘the Thrill-
Seeker’ Johnson
Barney “Ballin’ on a Budget’
Levario
Chris ‘the Chaos’
Rodriguez
Accountability
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Where does our money personality come from?
• 80% comes from our direct environment• Finance is about habits and understanding cause and
effect – NOT about numbers• You can change• Take advantage of it NOW!
Amiti Advising loves you. © 2011
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Retirement & Legacy
Future Planning
Foundation
FinancialHouse
Amiti Advising loves you. © 2011
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Retirement & Legacy
Savings Plan
Investments & Education
Funding
Tax Planning
Spending Plan
Debt Repayment
Plan
Insurance
Credit Management
Emergency Fund
FinancialHouse
Amiti Advising loves you. © 2011
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Spending Plan
1. Track your spending history.
2. Analyze your spending habits.
3. Project future income.4. Project future expenses.5. Create desired budget.6. Track spending. 7. Accountability partner.
28%
11%
13%18%
12%
7%11%
Spending PlanRent
Food
Loans
Saving
Gas/Main-tenance
Health
Bills
Amiti Advising loves you. © 2011
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Budget Breakdown• 50-30-20 Budget• 3 Main Areas• Needs
• 25% - Housing• 15% - Transportation• 10% - Food
• Savings• Savings Account• 401k/403b• IRA/Roth• Brokerage Account
• Wants• Lifestyle
50%
30%
20%
Needs Wants Savings/Debt
50-30-20 Budget
Amiti Advising loves you. © 2011
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MoneyU.com
• Online Financial Literacy Course
• Interactive Game• Unbiased• Self Directed• $15 for HSC• Text ‘MoneyU’ if interested
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Do I save or do I pay-off debt???
Save Pay-Off Debt
Credit Cards7% - 29%
Student Loans2% - 9%
Car Loans1% - 14%
Savings Accounts0.2% - 1.1%
CD’s1% - 2.3%
Amiti Advising loves you. © 2011
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Deceiving Debt CycleDebt
Balance$10,000
Crush Debt$9,100
Life Happens
Swipe credit card
1. Put together debt repayment plan.
2. Begin making extra payments on debt with no savings.
3. Life happens.4. Swipe credit card and
increase debt amount again.
Amiti Advising loves you. © 2011
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Emergency Fund
1. Figure out how much you need to save.
2. Rule of Thumb – Amount of Deductibles.
3. Save more depending on your situation.
4. Piece of mind.5. Open savings account. 6. Online banks.
Amiti Advising loves you. © 2011
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Debt Repayment Strategies
Balance$750
Payments$300
Balance$1,250
Payments$55 + $300
Balance $2,300
Payments $75 + $55 +
$300
• 2 Approaches• Snowball• High Rate
• Same Process• Organize in order• Increase debt payments
until first one is paid off• Carry that payment to
next
• Piece of Mind• Rule of 72• Student Loans
• 4%• Minimum Payments
Amiti Advising loves you. © 2011
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Student Loans
• Federal vs Private• Subsidized vs Unsubsidized• Information
• studentclearinghouse.org• www.nslds.ed.gov
• Deferment & Forbearance• Repayment Plans• Consolidation
Amiti Advising loves you. © 2011
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Credit Crunch
• Why credit is important• Credit Report vs Credit
Score• 3 Credit Agencies
• Equifax• TransUnion• Experian
• Where to get them• Annualcreditreport.com• Creditkarma.com
Amiti Advising loves you. © 2011
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Ready for Retirement?
• 25 Years Old• Retire at Age 65• Live Until 90• $75,000/year Lifestyle• How much do you need
saved up?
$3,397,107
Amiti Advising loves you. © 2011
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Intelligent Investing
• Start Now• Compounding Interest• Einstein – “The most
powerful force in the universe is compound interest”
• 22 Years Old• Saves $2,000/Year• Grows 6%• Invests for 9 years• Total $18,000 Invested
Tony
• 31 Years Old• Saves $2,000/Year• Grows 6%• Invests for 35 years• Total Invested $70,000
Jon
$579,000
$470,000
At Age 65
At Age 65
Amiti Advising loves you. © 2011
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Intelligent Investing
5%3%
91%
Investment Performance
Stock SelectionTimingAsset Alloca-tion
• Take Advantage of Retirement Accounts• Matching• Vesting
• Diversification• Stock Picking• Timing• Asset Allocation
• Asset Allocation
Amiti Advising loves you. © 2011
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Wednesday, April 12, 2023
Tony Aguilar@TonyAguilar@[email protected]
