Your future workout

If you’re looking to pursue your passions, whether in sports, arts or culture, having a good grip on your finances will make your journey that much easier. We call it future workout. 

Future workout is the ability to confidently manage your finances so that you’re ready for all life has to offer. Perhaps you’re looking to save for a house. Invest for your retirement (from sport, or work). Get cover for that next travel adventure. Whatever your goals, the earlier you start in life, the better. So jump into our three-part training plan and see where it may take you. 

Bamboozled? Check out our future workout phrases at the bottom. Don’t just take our word for it – see what some of our athletes have to say

Here’s a reminder from Olympic Champion in javelin, Thomas Röhler, on why you should train one of your most important muscles.

Week one

Base building is the foundation of any good training plan. And finance is no different. 

The good news is, you’ve already started the warm up, as you’ll be managing your money in some shape or form already. What we’re here to do is give you a little more confidence on how to make your money work for you.

From budgeting to spending, planning for retirement to managing debt – let’s get into the basics of how to earn, spend, save, borrow and protect your money.

Week two

Base building done, it’s time for Investment 101.

You’re ready to manage the now. But what about future you? In this session, we cover everything from investing for the first time to managing your risks. And once you get more confident, even how to diversify your investments and invest sustainably. 

So wherever you’re at, one thing’s for sure. The earlier you start in life, the better you’ll look later on.

Week three 

We get it. You get to week three, having yawned your way through personal finances and investment, and then we hit you with insurance.

But as any good sportsperson knows, having teammates who’ve got your back and coaches who prepare you every step of the way can make all the difference to how you deliver on the pitch.

And it’s the same with insurance. So get ready for both the sprints and the recoveries by knowing you’re covered for exactly what you need. No more, no less. 

Need a motivational coach for your Future Workout? There’s none better than Olympic Javelin Champion, Thomas Röhler, to keep you on your toes.
Don't just take our word for it – here’s why your fellow athletes train their financial muscles:
Portrait of Ziva Dvorsak
"Understanding money and our monetary system is not trendy and interesting for most people. But in my opinion, it is essential if we want to make the future better."
Ziva Dvorsak
Olympian, Shooting, Slovenia
Portrait of Louis Rolfe
"If I could gain some support on how best to invest and how to look after my money this would be most helpful."
Louis Rolfe
Paralympian, Para cycling, Great Britain
Portrait of Orla Comerford
"Investing is something that would be great to know about, especially as a career and money in sport can end at an early age. It would be great to know how best to invest now so that I can be set up for when I retire from sport!"
Orla Comerford
Paralympian, Para athletics, Ireland
Get ready to know your credit from your debit in our short future workout phrase book.
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A representative of an insurance company who sells their products and services. Must usually be licensed.
Money exchange icon

Bonds are debt securities issued by corporations, governments, or other organizations and sold to investors. Because corporate bonds are typically seen as riskier than government bonds, they usually have higher interest rates.
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Receiving something now and agreeing to pay for it later. This often comes with interest payments, meaning you may pay more than if you’d bought the good or service up front.

Accident benefits/bodily injury insurance
Unless an accident happens at or on the way to work, you’ll usually be left empty-handed. While statutory health insurance covers the costs of acute treatment, it doesn’t necessarily cover additional costs caused by the accident. This could include expenses for medical aids, necessary alteration or rebuild to your home, or pension benefits as a result of permanent disability.

Actual cash value
The cost of your insured item when new, taking off the loss of value due to age and condition (depreciation). This helps insurers work out how much to reimburse you in a claim.

A representative of an insurance company who sells their products and services. Must usually be licensed.

Retirement income, giving fixed payments each month for as long as you live (or for a fixed period).

Beneficiary or beneficiaries
The person named on a life insurance policy, for example your partner or child, to receive any money if you die.

The amount insurers will pay you if your claim is accepted.

Bonds are debt securities issued by corporations, governments, or other organizations and sold to investors. Because corporate bonds are typically seen as riskier than government bonds, they usually have higher interest rates.

An individual or company who sells insurance products from several different insurers of several different insurance companies. Must usually be licensed in the region they work.

A plan to track how much you’re earning and how much you’re spending.

Cash value
The amount a life insurer pays you if your policy is canceled – or if you die, the amount the beneficiary receives along with the value of the insurance policy.

Asking your insurer to pay you for a loss/event covered by your policy.  

Compound interest
Effectively interest on interest – money on top of both what you borrowed/invested and on the interest that has been added to it.

The maximum amount of money insurers will pay you if you make a claim covered by your policy.

Receiving something now and agreeing to pay for it later. This often comes with interest payments, meaning you may pay more than if you’d bought the good or service up front.

Credit limit
The maximum amount you can borrow, subject to the time and interest agreed.

Credit rating
Calculating your ability to repay the money you’ve borrowed.

Death benefit 
How much insurers will pay your beneficiary if you die.

Money owed to an individual or organisation. Always check if there are fees for late or missed payments. More on the different types of loans below.

How much you agree to pay for the claim before insurers pay the rest. The higher the deductible the lower the cost of your insurance, as you’ve agreed to pay for more of your loss.  

Amount taken from your salary to cover things like tax, social security and pension contributions.

Money paid upfront as a guarantee to buy an item, for example a car or a house. This will either form part of the overall payment or will be returned to you later.

Investing in a few different ways to minimize risk and try to maximize rewards.

The part of your claim not covered by insurance. You agree this up front when you take out your policy.

Exchange-traded fund (ETF)
Typically, ETFs will track a particular index, sector, commodity, or other assets, but unlike mutual funds, ETFs can be purchased or sold on a stock exchange the same way that a regular stock can.

Things that aren’t covered by your policy. For example, certain types of water damage may not be covered in a home insurance policy, or certain claims if you travel to a high-risk country.

Money you pay for a good or service. Normally either fixed expenses which are the same each month, for example your rent or mortgage. Or variable expenses, which changes each month, for example your food shop.

A mutual fund is an investment company that takes money from investors and pools it together in one large pot. The fund manager invests the money in different types of assets including stocks, bonds, commodities, and even real estate. An investor buys shares in the mutual fund.
Gross income
The amount you receive before tax.

High dividend stocks
Stocks that regularly pay a high dividend to shareholders. Often an indicator of strong company performance.

Hire purchase
A type of credit that gives the buyer the goods but not the ownership until the credit instalments have been paid.

An increase in prices and fall in the purchasing power of your money.

The person covered by the insurance policy.

A charge for borrowing money, as well as money you earn from keeping your money in a bank account. Often calculated as a percentage.

Buying into something you think will increase in value over time. But as you’d expect, this chance to grow also comes with risk.

An individual or group of people who put money into an organization to try and make money.

Joint lives
A type of life insurance that covers two people and pays out on either the first or second death (depending on the policy).
Key Investor Information Document (KIID)
Information about your investment, including fees and how the assets are allocated.

Paying to use something over a period of time, for example land or a vehicle.

Legal expenses insurance (LEI) is to cover potential legal costs. LEI can be taken out on a before the event (BTE) basis either as a stand-alone product, or as an optional add-on cover to a home, motor or commercial insurance policy.

Borrowing money can come in different types of loans. A payday loan often has high-interest rates to encourage you to repay it quickly. A personal loan means you can do what you like with the money. A secured loan means the amount you borrow is secured with the thing you’re going to buy, for example a car or home.

Material facts
Things that could affect whether an insurer covers you or not – and if so, at what price. For example, smoking may affect your life insurance cost. It’s important to be honest here, as insurers can cancel your policy or not pay your claims if you haven’t told them upfront.

Loaning money to buy a property.

Net income
The amount you receive after tax and other costs.
Borrowing money from your bank – normally set at a certain limit and an agreed fee.

Giving you an income in retirement. Normally made up of a state pension – from the government based on social security contributions and paid when you reach state pension age – and a workplace pension – from your employer, based on contributions while working.

The contract between you and your insurer. It will include the cost of the policy, what you’re covered for, and how much you’ll receive in a claim.

The person who owns the policy. Normally the insured but not always.

Pre-existing condition
A medical condition you know about before applying for insurance.

The amount you pay to buy your insurance policy.

A way to cover yourself for unexpected events, for example life and health insurance.

Quartile rank
How well a fund is performing against others in the sector over a specified time period.

Real Estate
Real estate is considered to be its own asset class. One of the key ways investors can make money in real estate is to become a landlord. A couple of the big barriers here are the amount you need to invest, as well as your money being tied down for a long period of time. But if you can do it, it can be a great way to secure your future.

Replacement value
The actual cost to replace your insured item, like for like.

Giving you protection for additional risks not covered in your policy. Sometimes known as an endorsement.

Chance that something you’re insured for, for example an accident or injury, will happen while your policy is in place.

Uncomfortable with taking risks.

Someone who owns shares in an organization.

Buying a small stake in a company. Companies sell shares to raise money and grow the business. Meanwhile, investors (shareholders) can buy or sell these shares on the stock market.

Stock trading involves buying and selling shares in publicly-traded companies. When someone buys shares of a company, they effectively become a small part-owner of that company and have some claim on its assets and earnings, in the form of dividends and/or capital appreciation.

Money paid to the government based on what you earn or what you’ve bought. This can also include social security which can help you qualify for certain state support.
Under-estimating the value of the thing you’re insuring, for example a mobile phone. This means you’re unlikely to get the value you expect if you need to make a claim.
Likely to change unexpectedly and quickly.
Waiver of premium
If this benefit is in your policy, it means the insurer will pay the premium if the policyholder becomes seriously ill.
Clearly we struggled here but XD is short for ‘ex-dividend’. This means shares trading without the value of its next dividend payment.
Income from an investment, normally a percentage.
Either the rate of interest or VAT is 0%
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Cautionary note regarding forward-looking statements
This document includes forward-looking statements, such as prospects or expectations, that are based on  current views and assumptions and subject to known and unknown risks and uncertainties. Actual results, performance figures, or events may differ significantly from those expressed or implied in such forward-looking statements.

Deviations may arise due to changes in factors including, but not limited to, the following: (i) the general economic and competitive situation in the Allianz’s core business and core markets, (ii) the performance of financial markets (in particular market volatility, liquidity, and credit events), (iii) adverse publicity, regulatory actions or litigation, (iv) the frequency and severity of insured loss events, including those resulting from natural catastrophes, and the development of loss expenses, (v) interest rate levels, (vi) changes in laws and regulations, including tax regulations, and (vii) the general competitive conditions that, in each individual case, apply at a local, regional, national, and/or global level.

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