Publication
How to Become a Millionaire
Objective
Students will be able to:
- Describe the characteristics of millionaires.
- Explain how sound financial decisions can increase wealth and a person’s standard of living.
Standard
Standard: 1
- Students will understand that: Most people earn wage and salary income in return for working, and they can also earn income from interest, dividends, rents, entrepreneurship, business profits, or increases in the value of investments. Employee compensation may also include access to employee benefits such as retirement plans and health insurance. Employers generally pay higher wages and salaries to more educated, skilled, and productive workers. The decision to invest in additional education or training can be made by weighing the benefit of increased income-earning and career potential against the opportunity costs in the form of time, effort, and money. Spendable income is lower than gross income due to taxes assessed on income by federal, state, and local governments.
In this personal finance lesson, students will learn how to become wealthy in order to build their financial future.
Description
This lesson is designed to get students interested in personal finance. While financial planning may seem to be dull and time-consuming, finding out how to become a millionaire is a topic likely to stir up considerable interest. Of course, the lesson does not pretend to offer a fail-safe procedure for achieving wealth. It emphasizes, instead, self-discipline, planning, and making sound choices—about getting a good education, spending wisely, saving early and often, and taking prudent risks.
Resources
Book Info
This lesson is part of Financial Fitness for Life 9-12, 3rd Edition and provides the slides and activities with educational technology tools. For full access to the book, shop the teacher guide and student workbook below.
Teacher Guide |
Student Workbook |
Available in eBook and hard copy |
Available in eBook and hard copy |