Class Offerings
After completing the introductory class, BIG PICTURE: BUILDING WEALTH, students get a choice of personal finance courses that drill down into the essential themes of saving, planning and investing. Each course is supported by a regularly updated, research-based PDF, Mr. L’$ Money Guide: Building Wealth. The long-term goal is to have teachers share the course materials with their students and support their school's personal financial literacy curriculum. Meanwhile, Mr. L remains an active investor and continues to teach the courses to as many students as possible. At age eighteen, young people have the legal option to own property and invest in the stock market—key elements to building wealth. Financial literacy education is necessary to cement the knowledge and confidence of all young investors. Based on extensive training and over twenty-five years of experience in the classroom, Mr. L provides clear and concise instruction to all types of learners.
BIG PICTURE: BUILDING WEALTH
Understanding how to manage and grow money is an inevitable part of life. Some of us enjoy it, and some of us loathe it. Embracing the well known mantra "knowledge is power" is crucial to personal finances. This one-hour, interactive class provides the template to help start, or improve upon, one's financial journey. By introducing SPI ("spy")—save, plan, invest—as the three major pillars to building wealth, students see the big picture for personal finances. Other topics covered include net worth, four ways to create return on investment (e.g., stocks and real estate) and, the secret sauce, compounding returns. Money can't buy time, so starting the process of building wealth early in life is essential.
SAVING & PLANNING: MILLIONAIRE CLUB
The purpose of this lesson is to establish the foundation that creates strong investing habits. There is ample research that supports the connection between personal financial wealth and setting financial goals. Working with financial calculators in class, students experiment with the process of building a million dollars in liquid assets.
By using the Millionaire Calculator in "Mr. L'$ Money Guide: Building Wealth," students see the benefits of starting early and taking advantage of compounding returns. Plus, students learn the role of taxes, inflation, and rate of return; however, before investing, creating a budget, setting-up an emergency fund, and establishing a regular savings routine are necessary steps. Finally, understanding the role of a CFP (Certified Financial Planner) is covered in the course material and is a recommended piece of the planning process.
STOCK MARKET: IT’S NOT ROCKET SCIENCE
The talented investor Peter Lynch, who once ran the largest, most successful mutual fund in the world, has said, "If you have passed fifth grade math, you can understand the stock market." Not only is the stock market a key pillar of our economy, it is an essential part of building wealth.
This class covers the fundamentals of the stock market and provides a clear path on how to begin, or how to improve upon, investing in the stock market. Common investing options such as 401ks, IRAs, Keogh Plans, pension plans and other stock market related terms are covered as well. Whether it's through passive investing with index funds and/or buying individual companies, disciplined, research-based investing in the stock market should be a core piece of everyone's financial picture.
REAL ESTATE: "GIMME SHELTER"
The Rolling Stone’s classic song "Gimme Shelter" is not about real estate, but we all do need shelter. The largest asset for most individuals is their home and, therefore, the largest chunk of their net worth. In other words, owning your own home, whatever form that takes, is an important piece of personal finances.
The overarching goal of this class is to cover the basics of real estate. From home ownership to exploring the various ways to use real estate as an investment. Some examples of the material covered include the different types of mortgages available, the importance of a high credit score, and how rental property and “flipping” properties can be profitable investments. This class also explores two important questions: “What can I afford?" "What percentage of my budget should go towards rent or a mortgage payment?"
ENTREPRENEURSHIP: "NO RISK IT, NO BISCUIT"
Super bowl winning coach Bruce Arian's "No risk it, no biscuit" philosophy is all about his teams and players feeling comfortable taking chances and reaping the rewards. Entrepreneurs have to embrace a similar approach. Starting or buying a business requires passion, vision, and a willingness to take risks. The entrepreneurial route is not for everyone. Failure is a real possibility, but some embrace these experiences as learning opportunities and push on. Nike, Apple, Microsoft, and Amazon are modern day examples of companies started by talented entrepreneurs whose journeys were filled with successes and failures.
This class explores basic topics like business plans, funding options, infrastructure needs (e.g., accounting and marketing) and low-cost tools that can help make an entrepreneurial dream a reality.