Planning for Risk and Retirement from edX

Planning for Risk, Retirement and Investment is made possible by the Brian and Sheila Jellison Family Foundation.

The Planning for Risk, Retirement & Investment course is designed for individuals to build financial literacy, one of the most pressing needs Americans face today. Financial decisions made by individuals impact the larger community in significant ways with pervasive cost due to financial mistakes. A recent study by the Financial Industry Regulatory Authority (FINRA) reveals over 50% of Americans have less than $10,000 saved for retirement. In addition, over 50% of Americans have no emergency fund, unable to cope with an unexpected car repair without borrowing funds. Financial literacy is an urgent need for many.

This course dives deeply into issues and decisions that impact your financial future. You’ll explore strategies around controlling and managing risk, planning for retirement, and cultivating an investment mindset. Through a hands-on approach, you’ll gain answers to common personal financial questions including:

What exactly is risk, and why should I care about it?
What are the core concepts and principles of insurance?
How do insurance companies help consumers manage risk?
Do I need to buy life insurance and how much?
What are my family’s needs for security from loss of life and property?
What are my options for life insurance?
What are good decisions that both save money and protect me from reasonable risks?
Do I need full coverage auto insurance, or can I save money with liability insurance?
How much money do I need in retirement, and how do I determine my needs?
Where can I look for sources of income in retirement?
Am I ready both financially and philosophically to be an investor?
What are the risks of investing, and am I ready to accept them?
How do I allocate my investments depending upon the stage of my life?

Through course videos, selected short readings, and self-paced activities, students in this course will gain both practical knowledge of core concepts of risk, retirement, and investment, and a broader view of the role of planning plays in our quest for financial and personal satisfaction.

What you'll learn

Through course videos, selected short readings, and self-paced activities, students in this course will gain both conceptual and practical knowledge of the inevitable and universal decisions around managing risk, planning for retirement, and starting a program of investment. You’ll develop your ability to:

Classify a variety of financial risks
Choose between risk acceptance and risk avoidance
Assess your family’s need for life insurance including the amount and type
Choose between whole, term, and universal life products
Understand the features and limitations of property and casualty insurance products
Compare policy features and costs across insurance products
Understand an insurance policy and how to save money when purchasing
Determine your need for renter’s insurance
Distinguish between basic automobile insurance and coverages
Assess your need for comprehensive and collision insurance
Participate in a step-by-step workshop on retirement planning
Calculate your retirement income needs and identify common sources of retirement income
Distinguish between investment and speculation
Understand and compare the features of secured credit
Assess your tolerance for risk in investments and evaluate investment products
Develop your investment mindset

What's inside

Learning objectives

Classify a variety of financial risks
Choose between risk acceptance and risk avoidance
Assess your family’s need for life insurance including the amount and type
Choose between whole, term, and universal life products
Understand the features and limitations of property and casualty insurance products
Compare policy features and costs across insurance products
Understand an insurance policy and how to save money when purchasing
Determine your need for renter’s insurance

Distinguish between basic automobile insurance and coverages
Assess your need for comprehensive and collision insurance
Participate in a step-by-step workshop on retirement planning
Calculate your retirement income needs and identify common sources of retirement income
Distinguish between investment and speculation
Understand and compare the features of secured credit
Assess your tolerance for risk in investments and evaluate investment products
Develop your investment mindset

Classify a variety of financial risks
Choose between risk acceptance and risk avoidance
Assess your family’s need for life insurance including the amount and type
Choose between whole, term, and universal life products
Understand the features and limitations of property and casualty insurance products
Compare policy features and costs across insurance products
Understand an insurance policy and how to save money when purchasing
Determine your need for renter’s insurance
Distinguish between basic automobile insurance and coverages
Assess your need for comprehensive and collision insurance
Participate in a step-by-step workshop on retirement planning
Calculate your retirement income needs and identify common sources of retirement income
Distinguish between investment and speculation
Understand and compare the features of secured credit
Assess your tolerance for risk in investments and evaluate investment products
Develop your investment mindset

Syllabus

Week One: Insuring Your Life Principles and Insurance Needs

Week Two: Insuring Your Property Property & Casualty Insurance Products

Week Three: Retirement Planning Sources of Income in Retirement

Week Four: Investment Planning The Principles of Becoming an Investor

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Provides foundational knowledge in financial literacy, addressing a critical need among Americans facing financial challenges

Taught by industry experts Todd Roberson and Kenneth Carow, ensuring credibility and relevance

Empowers individuals to make informed financial decisions, impacting not only their personal finances but also the larger community

Emphasizes the importance of risk management, retirement planning, and investment strategies, providing practical tools for financial well-being

Provides clear answers to common financial questions, addressing concerns and uncertainties faced by many

Covers essential concepts such as insurance, retirement income sources, and investment principles, building a comprehensive understanding of financial planning

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Planning for Risk and Retirement with these activities:

Track your expenses

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Tracking your expenses will help you understand where your money is going and identify areas where you can save.

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Choose a method for tracking your expenses
Enter all of your income and expenses
Categorize your expenses
Analyze your spending patterns
Identify areas where you can cut back

Personal budget

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Creating a budget will help you control your spending and reach your financial goals.

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Set financial goals
Track your income and expenses
Create a spending plan
Monitor and adjust your budget as needed

Assess your need for insurance

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This project will help you understand your personal and financial circumstances and determine the types of insurance policies you need to protect your family and assets.

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Gather information about your family and assets
Review your income and expenses
Identify your risks
Research different types of insurance policies
Compare quotes from different insurance providers

Five other activities

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Discuss investment strategies with a peer

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Talking to someone else about your investment strategies can help you learn different approaches and refine your own strategy.

Browse courses on Investing

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Meet with a peer
Discuss investment strategies
Share ideas and experiences

Develop a retirement plan

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This project will guide you through the process of creating a retirement plan that meets your financial goals and objectives.

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Determine your retirement income needs
Identify potential sources of retirement income
Create a retirement budget
Choose a retirement investment strategy
Monitor and adjust your retirement plan as needed

The Intelligent Investor

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This classic investment guide will help you develop a sound investment strategy and avoid common pitfalls.

View The Intelligent Investor Third Edition,... on Amazon

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Read the book
Summarize the main points of the book
Apply the principles of the book to your own investment portfolio

Create a diversified investment portfolio

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This guided tutorial will teach you how to create a diversified investment portfolio that meets your risk tolerance and financial goals.

Browse courses on Investing

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Monitor and adjust your portfolio as needed
Learn the basics of portfolio diversification
Identify your risk tolerance and financial goals
Choose a mix of investments that meet your needs

Financial plan

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Creating a financial plan will help you get a clear picture of your financial situation and make informed decisions about your future.

Browse courses on Financial Planning

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Set financial goals
Create a budget
Develop a retirement plan
Choose an investment strategy
Monitor and adjust your financial plan as needed

Career center

Learners who complete Planning for Risk and Retirement will develop knowledge and skills that may be useful to these careers:

Financial Planner

Financial planners help individuals and families manage their money and plan for the future. They develop financial plans that outline a person's financial goals and how to achieve them. This course can be helpful for financial planners as it covers a wide range of topics that are essential for financial planning, such as risk management, retirement planning, and investing. By taking this course, financial planners can gain knowledge that will help them better serve their clients.

See salaries and explore the career path for Financial Planner

Financial Advisor

Financial advisors help individuals and families manage their money and plan for the future. They develop financial plans that outline a person's financial goals and how to achieve them. This course can be useful for financial advisors as it covers a wide range of topics that are essential for financial planning, such as risk management, retirement planning, and investing. By taking this course, financial advisors can gain knowledge that will help them better serve their clients.

See salaries and explore the career path for Financial Advisor

Retirement Planner

Retirement planners help individuals and families plan for their retirement. They develop retirement plans that outline a person's retirement goals and how to achieve them. This course can be useful for retirement planners as it covers a wide range of retirement planning topics, such as risk management, retirement income planning, and investing. It can equip you with the knowledge to help your clients retire comfortably.

See salaries and explore the career path for Retirement Planner

Financial Analyst

Financial analysts evaluate and recommend investments for individuals and institutions. They use financial analysis to assess the risks and potential returns of different investments. This course can be useful for financial analysts as it covers a wide range of investment topics, including risk management, retirement planning, and investing. It can equip you with the knowledge to make sound investment decisions.

See salaries and explore the career path for Financial Analyst

Personal Finance Counselor

Personal finance counselors help individuals and families manage their money and plan for the future. They provide advice on budgeting, saving, investing, and retirement planning. This course can be useful for personal finance counselors as it covers a wide range of personal finance topics, including risk management, retirement planning, and investing. It can equip you with the knowledge to help your clients achieve their financial goals.

See salaries and explore the career path for Personal Finance Counselor

Investment Analyst

Investment analysts evaluate and recommend investments for individuals and institutions. They use financial analysis to assess the risks and potential returns of different investments. This course can be useful for investment analysts as it covers a wide range of investment topics, including risk management, retirement planning, and investing. It can equip you with the knowledge to make sound investment decisions.

See salaries and explore the career path for Investment Analyst

Underwriter

Underwriters evaluate and assess risks for insurance companies. They decide whether to issue insurance policies and what premiums to charge. This course can be useful for underwriters as it covers a wide range of insurance topics, including life insurance, property insurance, and casualty insurance. It can provide you with the knowledge to make sound underwriting decisions.

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Portfolio Manager

Portfolio managers manage investment portfolios for individuals and institutions. They make investment decisions and monitor the performance of the portfolio. This course can be useful for portfolio managers as it covers a wide range of investment topics, including risk management, retirement planning, and investing. It can equip you with the knowledge to make sound investment decisions.

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Insurance Agent

Insurance agents help people and businesses find and purchase insurance policies. They work with clients to assess their needs and risks, and then develop and recommend appropriate insurance policies. This course can be useful for insurance agents as it covers a wide range of insurance topics, including life insurance, property insurance, and casualty insurance. It can equip you with the knowledge to help your clients make informed decisions about their insurance coverage.

See salaries and explore the career path for Insurance Agent

Risk Manager

Risk managers develop and implement risk management strategies for businesses and organizations. They work to identify, assess, and mitigate risks. This course can be useful for risk managers as it covers a wide range of risk management topics, including insurance, risk assessment, and risk mitigation. It will help you to understand the different types of risks that businesses face and how to manage them effectively.

See salaries and explore the career path for Risk Manager

Risk Analyst

Risk analysts identify and assess risks for businesses and organizations. They work with other departments to develop and implement risk management strategies. This course can be useful for risk analysts as it covers a wide range of risk management topics, including insurance, risk assessment, and risk mitigation. It will help you to understand the different types of risks that businesses face and how to manage them effectively.

See salaries and explore the career path for Risk Analyst

Insurance Claims Adjuster

Insurance claims adjusters investigate and settle insurance claims. They work with policyholders to assess the damage and determine the amount of the claim. This course can be useful for insurance claims adjusters as it covers a wide range of insurance topics, including life insurance, property insurance, and casualty insurance. It can equip you with the knowledge to handle claims effectively.

See salaries and explore the career path for Insurance Claims Adjuster

Investment Banker

Investment bankers help companies raise capital and advise them on mergers and acquisitions. They work with companies to develop and execute financial strategies. This course can be useful for investment bankers as it covers a wide range of investment topics, including risk management, retirement planning, and investing. It can equip you with the knowledge to make sound investment decisions.

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Actuary

Actuaries use math and statistics to analyze risk. They help businesses and organizations plan for and mitigate financial shocks. Knowledge gained from this course, especially in insurance and risk management, can be useful for actuaries who need to understand how to protect their policyholders. The course also covers topics such as retirement planning and investing, which are essential skills for anyone who wants to achieve financial security.

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Economist

Economists study the economy and develop theories to explain economic phenomena. They may also work in government or the private sector, providing advice on economic policy and forecasting economic trends. This course may be useful for economists as it provides a foundation in economic principles. It can help you to understand the role that risk, retirement, and investment play in the economy and how to analyze and interpret economic data.

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