Personal Economics : Personal Finance

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The goal of this course is to get you thinking about personal finance issues at a point in your life when you still have time to benefit from the power of time in generating wealth to accomplish your other life goals. The financial decisions you make early in life with determine in great extent the quality of life you will enjoy later, especially given the turbulent and uncertain economic conditions. Money isn’t everything, but a lack of it will impact almost every aspect of your life and those who surround you. This course will provide the basis for your success not only by satisfying a course requirement, but also by providing you the fundamentals to be financially secure throughout your life. Concepts such as the time value of…show more content…
The project will be a planning effort using typical financial planning data from a college graduate fully immersed in their career 5 years from now. Use fictitious data to protect your privacy, although I will not share your projects. To protect your security please do not state whether the financial data you use is real or fictitious. The goal of the planning project will be to set a person up with a plan that will provide the greatest chance for long-term financial success. The plan you develop will be summarized in a 4-5 page type written double-spaced report highlighting your strategy and the financial vehicles you propose to use to help reach the financial goals set forth. - Although not directive, goals would likely include establishing a college savings for children, ensuring a comfortable retirement, and protecting the financial future of the family (if applicable) in case of death or serious injury. - If student loans were a necessary part of college financing, how will the repayment of these student loans affect the ability of the person to save in the critical years after graduation. Examine the time value of money considerations that will impact any delay caused by “repaying loans” rather than “investing” during this critical period. - Part of your analysis should include a brief examination of Social Security and anticipation of the effect of changes that will be necessary to that
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