Beyond Books: Mastering Money for Post-secondary Grad Success - Module 1: Goals (Digital Learning Experience)

Chuck Grace

Product #:W36979

Supplier:Ivey

Discipline:Accounting, Finance

Details:Digital Learning Experience (Virtual) • 160 min • 2024-04-19

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Please note that the PDF version of the case, Jenny Looks to the Future (product number 9B16N023) is included with this Digital Learning Experience. Jenny, an Honors Business Administration (HBA) student, hadn’t worried about her big life goals, but in her first Wealth Management class, the discussion wasn’t about investing. Instead the professor talked about marriage, mortgages, promotions, illness, and other assorted topics that until now had never entered her mind. As her professor said, your goals and dreams will require financing. Jenny was eight months away from graduating, and needed to think about her lifetime goals.

Learning Objectives

This case is written primarily for use in an introductory wealth management or investing course. It is intended to introduce students the concept of goals-based investing. It represents an actual (but disguised) financial plan for a graduating student submitted as part of a class assignment.

The case is one in a series of cases supporting the theme of high-impact wealth management. Each case in the series can stand on its own to deliver a unique learning objective.

The learning objectives focus on the following guidelines:

Effective wealth management starts with the end in mind. Most people save in order to finance a need, want, or dream. They measure success by progress toward, or achievement of, those goals; it is therefore critical to have clarity around those goals. Goals create the context for everything that follows.
Two important components of goals-based investing are (1) ensuring that the goals are specific, measurable, attainable, relevant, and timely (SMART) and (2) understanding the financial consequences of each goal.