Playing the long game
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Introduction
In this activity students learn that superannuation is money put aside for their retirement and begin to understand that being informed can make a difference to their long-term financial wellbeing.
This activity contributes to the following outcomes.
A student:
- applies consumer, financial, economic, business, legal, political and employment concepts and terminology in a variety of contexts COM5-1
- analyses key factors affecting decisions COM5-4
- evaluates options for solving problems and issues COM5-5
- works independently and collaboratively to meet individual and collective goals within specified timeframes COM5-9
Related Stage 4 outcomes: COM4-1, COM4-5, COM4-9
Related Life Skills outcomes: COMLS-5, COMLS-7, COMLS-13
Content descriptions
Core 1: Consumer and Financial Decisions
Financial management
Students:
- discuss the role and importance of long-term financial strategies, including superannuation
- investigate tools and strategies for effective financial management, including:
- savings and superannuation plan.
Core 3: Employment and Work Futures
Work and wellbeing
Students:
- examine the contribution of work to the wellbeing of individuals and broader society, including:
- the relationship of work to quality of life, for example, disposable income, health, household economic wellbeing, superannuation accrual, household management.
Option 2: Investing
Reasons for investing
Students:
- examine individual and business investment, including: (ACHEK018, ACHEK020, ACHEK040)
- the reasons individuals and businesses may choose to invest.
Investment planning
Students:
- explain how changes in personal and economic circumstances may lead to variations in investment decisions
Teacher resources
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Why can't we rely on the age-pension?
Writing paragraphs in Commerce
Student learning resources
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How much super will I need?
Playing the long game
Writing paragraphs in Commerce
Suggested activity sequence
This sequence is intended as a framework to be modified and adapted by teachers to suit the needs of a class group. If you assign this activity to a class, your students will be assigned all student resources on their 'My learning' page. You can also hand-pick the resources students are assigned by selecting individual resources when you add a work item to a class in 'My classes'.
- Invite students to imagine their lives backwards.
You are 60 years old and want to retire. What sort of retirement do you want?
- Students read the explainer or read it as a class.
- Select students to share some of their ideas and key pieces of information. Discuss.
- Students complete the worksheet.
- Use a grouping strategy to organise students into groups of 4.
- Display the statistics on the visualiser.
- Groups discuss the impact of these statistics on the future of age pensions.
- Explicitly teach how paragraphs are structured using the Writing paragraphs in Commerce – Visualiser or invite students to read Writing paragraphs in Commerce – Model.
- Redisplay the statistics on the visualiser.
- Students write an evidence-based paragraph explaining why their generation cannot rely on the age pension.