In this new weekly blog post, Jessica will highlight Just One Resource from our NGPF collection that maybe doesn't get the attention it deserves. Use it this week or bookmark it for later.

[The Resource]  ANALYZE: Saving for Retirement

The Gist: Three very different graphs tell basically the same story -- save early and often for retirement, kids, or you'll end up in trouble! Graph 1 shows how savings compound and grow over time, Graph 2 illustrates how much different generations have saved for retirement, and Graph 3 depicts how much you need to save monthly, dependent on age, to retire with $1M. 

The Best Parts: 

• Teachers tell us it's nearly impossible to get teenagers thinking about retirement -- it's way too far away. Hopefully one or more of these graphs "stick" and convince teens it's never too early!
• Each graph comes with questions to support deeper analysis, a skill some teens struggle with if they don't have scaffolding. But, if your kids are top-notch and don't need as much support, feel free to cut out the "easier" questions and leap right to synthesis. 
• Also provides some context for introducing compounding and/or investing
• As with all NGPF activities, it's completely customizable, so use one, two, or all three graphs in your classroom. Or, divide your students into groups to deep dive into one graph and then share out with the class -- lots of possibilities!

About the Author

Jessica Endlich

When I started working at Next Gen Personal Finance, it's as though my undergraduate degree in finance, followed by ten years as an educator in an NYC public high school, suddenly all made sense.