Many retirement resources help students learn strategies to save for retirement, but not many show students what it’s like to live off retirement income. In fact, many adults do not have a grasp of this concept. I created this Retirement Simulation to help students see what it’s like to live off retirement savings.

This activity can be done in groups or individually. For this instruction sheet, I have written down instructions based on each student working individually and receiving their own copy of the instructions and all materials. However, feel free to adapt as needed. I don’t have a lot of access to technology in my classroom, so this is what works best for me.

Objectives:

· I can understand the importance of saving for retirement.

· I can analyze what it’s like to live off my retirement savings.

Other Materials Needed:

Brads and paper clips to make spinners

Setup Required:

Each student will need an “Unexpected Expense” Spinner. Insert a brad in the center of the “Unexpected Expense” Wheel and attach a paper clip to the brad. Students can flick the paper clip and see what category it lands on.

Time Required:

2 hours