BRESEE BANKING FILLING YOUR BUCKET

WHAT DO YOU DO FOR POINTS? Good report card?? ·        Earning an income -        Bresee points – how earn the points, how choose what going to do to earn the points? ·        Factors in choosing a career: cash and personal utility. How choose? -        What like to do -        What good at -        Why choose one job over another? -        Working environment tradeoffs Lawrence tell investment banking story, how much made per hour Þ    Hours Þ    Intensity Þ    Job security Þ    Growth opportunities -        Risk tolerance (self-employment vs. salaried positions) -        Earning potential Computer lab?? Take Classes??

You Earn Your Points by: Easy Work? Homework for some, computer lab for others Hard Work? Good report card for some, teach money class for others Smart work? Tricks of the trade???? HOW DO YOU CHOOSE?

What you like to do? What your time is worth? What is easy for you? How do you choose?

MAKING A LIVING - FILLING YOUR BUCKET Work is 8 hours a day, 5 days a week, 45 years…. LOTS OF LIFE – IMPORTANT CHOICES

MAKING A LIVING - FILLING YOUR BUCKET   What do You Like? Be around other people? Work with hands? Speak? Work with money? Dance? ·        Factors in choosing a career: cash and personal utility. How choose? -        What like to do -        What good at -        Why choose one job over another? -        Working environment tradeoffs Lawrence tell investment banking story, how much made per hour Þ    Hours Þ    Intensity Þ    Job security Þ    Growth opportunities -        Risk tolerance (self-employment vs. salaried positions) -        Earning potential 6

? WHAT ARE YOU GOOD AT? MAKING A LIVING - FILLING YOUR BUCKET • Math • Managing People • Communicating Ideas or Instructions ?

Athlete - career over at 40 Model - career over at 25 MAKING A LIVING - FILLING YOUR BUCKET Some careers start early end early? Athlete - career over at 40 Model - career over at 25 Military - too old at 39 8

What’s Important to You? Choose Your Top Four Do what you like to do High salary Living big city/small town Live close to work Secure job at secure company Live close to friends, relatives No overtime only 40 hours a week Working conditions – safe??? Indoors?? Work by yourself or on team Benefits – insurance, schooling,training,retirement Needs (responsibilities) vs. wants (goals) Life choices impact financial security ·        Education -        Career and non-career benefits -        Impact on earning potential -        Factors in choosing a college education decision framework -        Liberal arts vs. specialized education

CHOOSE YOUR CAREER Choices Tradeoffs • A big paycheck for a bad boss? What do you like? What are you good at? What’s important to you? •Make a lot? •Like your job? Tradeoffs • A big paycheck for a bad boss? •Work close to home for lower pay?

CHOOSE YOUR CAREER Different professions and earning levels   Different professions and earning levels -        Determinants of salaries pricing and value -        Income taxes plus other payroll taxes, FICA, city tax etc.

The Taxman Cometh You Get Paid: $60,000 Taxes:   Taxes: - Social Security minus $4,200 - Federal minus $8,000 - State minus $5,400 You Take Home $42,400

SOME EARN MORE TOMORROW

Work for Points Get a Check per Project How You Get Paid n      paychecks, bonuses, benefits n      self employment income commissions n      raises, promotions lifelong results of career choice

Getting Paid in Real World • Work for someone else Salary • Work for yourself Self employment income • Sales Commissions

VALUE OF EDUCATION 16 · Education - Career and non-career benefits -        Impact on earning potential -        Factors in choosing a college education decision framework -        Liberal arts vs. specialized education Ongoing career planning more education? 16

Education – An Investment

Everyone’s Bucket Gets $1 Million 40 years at $25,000 per year = $1 million 30 years at $33,333 per year = $1 million 15 years at $66,667 per year = $1 million What do you do with Yours?

KEEPING WHAT’S YOURS Next Class SPENDING MONEY