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November 23rd, 2015

UTC’s Financial Planning Workshop brings investing to teachers

 

November 23, 2015: Teachers from secondary schools across Trinidad and Tobago recently completed an inaugural Financial Planning Workshop hosted by the Unit Trust Corporation, aimed at helping them understand and appreciate the value of investing to achieve their financial goals.

The workshop, held at the Trinidad Hilton and Conference Centre, was designed to equip teachers with the knowledge and tools needed to make informed judgments about financial decisions affecting their own lives and help them effectively navigate financial challenges. The educational initiative is aligned with the UTC’s Corporate Social Responsibility (CSR) that is designed to bring added value to our social stakeholders. At the end of the workshop, teachers were presented with certificates of participation.

Eighteen secondary school teachers attended the one-day workshop that focused on simplifying financial planning and techniques on wealth management. It also spotlighted the benefits of investing in the UTC’s latest investment offering, the Calypso Macro Index Fund – the Caribbean’s first exchange-traded macro index fund and the first UTC fund to be listed on the Trinidad and Tobago Stock Exchange.

Some of the teachers present were intimate with the UTC’s Student’s Investment Game which is designed to give secondary school students early exposure to the dynamic and intriguing world of finance and investing. The game, which has been running for the past twenty five years, gives an insight into the skills needed for effective financial management, fiscal discipline and patience.

“Our efforts at the UTC could go a long way in helping you make timely and responsible financial decisions which can contribute to your financial health,” Ian Chinapoo, Executive Director at the Unit Trust told the teachers, noting that all professionals needed to continuously assess their financial status. This, he stressed could improve their financial wellbeing and provide a path to financial peace of mind.

“As teachers, you may wish to know about budgeting, financial planning, cash flow analysis, estate planning and wealth management, and this is what this workshop is about – designed to help teachers deal with real-world money challenges, especially investing,” he said. Chinapoo stressed that in the absence of proper planning, life events such as marriage, divorce, death in the family and loss of income, could lead to financial distress and anxiety.

“Retirement, sending and keeping your children in university, even house acquisition or selling one can have an undesirable impact on your finances if you are not properly prepared for such undertakings,” said the Executive Director.

Mrs. Wendy Bishop, UTC manager, Research, debunked myths of investing by sharing with the group that potential investors do not need to wait on a “back pay” to start investing. “Investing incrementally can allow even a modest investor the opportunity to achieve their goals, since they have been adding to their account on a regular basis,” said Bishop. Ms. Nilma Campbell, UTC’s marketing officer, noted that teachers can leverage their skills and talents to boost their income, and in so doing, capitalize on investment opportunities that arise.

During the question and answer segment, teachers posed questions on home ownership and retirement, allowing for discussion on how investing can help them achieve their goals.

UTC Executive Director, Ian Chinapoo, makes a point during his address at the UTC Teachers’ Workshop

UTC Executive Director, Ian Chinapoo, makes a point during his address at the UTC Teachers’ Workshop

Mrs. Wendy Bishop, UTC manager, Research, shares an investment tip with the teachers.

Mrs. Wendy Bishop, UTC manager, Research, shares an investment tip with the teachers.