Personal Financial Plan

The economy can be impacted by the U.S.government through two major types of economic policy. The first type is called fiscal policy, which is economic policy instigated by the President or by Congress. The fundamental tools at the disposal of these branches of government are taxation law and government spending. By changing tax laws, the government can effectively affect my personal finance by modifying the amount of disposable

* Plan for retirement- planning for retirement can make for a better and easy future. Planning for retirement will also help you learn how to make investments and save money

It provides hints about the levers that managers must pull to achieve growth above the sustainable rate.

Evaluation will be based on End-of-Topic quizzes, a midterm exam, four assignments, and a final exam as listed under “Grading Scheme” below. There is a quiz at the end of each topic/chapter. The midterm quiz covers chapters 1 to 9 inclusive and the final quiz covers the entire course. All the quizzes are True/False and multiple choice types available in Blackboard. All the quizzes are open-book but because of the limited time available to take a quiz, you must have good knowledge of the content before taking the test. You are responsible for checking Blackboard for the opening and closing dates and times of the quizzes. No extensions will be allowed.

Your final project will integrate what you have learned throughout the course into the core elements of a financial plan. Although not comprehensive, and in fact only the beginning of what should be a living document, this project will allow you time to organize and reflect on key areas of personal finances that you will need to address throughout your financial life cycle.

So, Long Term Care Is another key component of retirement planning. Currently, people are living longer thanks to better medicines. Which, in a way this is a bad thing because these individuals typically don’t have the money to afford this. That is why first, I plan on saving extra money, so that if I do happen to outlive my money, my loved ones can have a larger inheritance. However, there are other steps that I plan on taking advantage of.

According to a research conducted by the National Council on Aging, approximately 97% of the population aged 65 and beyond desire to remain independent in their home after retirement. This continues to be the biggest concern for this age group in planning for retirement.

However, having a stable work hour to have time with my family. I retain most experience in interior design and managing my own business. My ideal job would be employed possibly with government Job, state or going back to a retailer similar to Lowe’s. If I went back to a retailer, I would hope to establish a position in the corporate office, instead of obtaining a retail position. As I did for my interior design degree. When I worked for KB Homes I loved working for the corporate office. Although due to my illness I was terminated. I hoping to find a job that would work with my interior design experience and my new accounting degree. The most important thing I'm examining for in an ideal job is to work in 8 to 5 job with 401k or some type of retirement plan, medical insurance, sick leave and vacations time. The benefits package is the most important aspect of my ideal

I plan to properly identify my desires, and then I will follow a solid, actionable plan to move from where I am with my debt to where I want to be in the future. The first step I will have to train myself not to spend more than I earn in the future. I will have to start determine my overall income, identify the multiple ways

401k comes right after due to the fact that I am not getting any younger and at age 45 am now closing in on retirement. I know that social security alone will just not cut it for me and my husband in our golden years and I have to plan for that.

In order for me to live the current life that I live now I will need $2236660.07 when I retire. At retirement I will need 523,035 and in order for me to reach my goal I will need to invest at lead 200 dollars a month to reach that goal if you include social security. I will do this by using the current leftover cash I have in my budget which is about 250 dollars a month to start saving. My risk toll will not affect my goals because I tend to stay on budget and am willing to take on heavier risk that is need to get higher returns over the long

The most common question is, “Should I count only on Social Security for all my retirement income,” and the answer is no. Retirement is based on the comfortable retirement that is created by social security, pension and realistic savings (“Frequently Asked Questions about Social Security’s Future,” n.d.). Before this course, I had a vague understanding of retirement. All I knew about retirement was to start young and plan on taking ten percent of each paycheck into a saving account that is to be saved for the future. However, I felt paying for school was more important than taking ten percent out of each paycheck for an event that won’t occur for fifty or more years, so instead I implanted a process of taking out twenty-five cents per month. The plan was to continue this process until I graduated, then change the amount from twenty-five cent per month to one hundred dollars per month until my husband retires. But, I understand now that this plan may not be realistic because of some retirement issues that have been mentioned within the courses materials.

I have to admit that I do not plan on working until I die, and I know I am not the only one who feels this way. Although retirement might seem many years away for me and a significant portion of the workforce, now is the time to start planning for retirement. Many companies offer private retirement benefits such as 401k plans where a percentage of the employees’ wages (typically 15% or less) goes to stocks and bonds. Even though many employees contribute to a private retirement plan, many employees need additional retirement benefits. Moreover, many workplaces have no retirement package, and the employees need a different form of retirement benefits.

To accomplish my second goal I plan on putting a cap on my level of living expenses that increases at a smaller multiple then my income each year. I want to give another half percent of my income each year. I will budget out my salary for discretionary and non-discretionary spending and stick to the budget by limiting use of credit cards and attempting to pay cash for most items I purchase. This will help me control my cash outflow.

If you’re a homeowner, and you have a long-term financial plan, you should include a strategy to pay your mortgage off early. If you can, you’ll have more money each month to payoff non-housing debt, or to build up long-term savings to fund your children’s college education, or to prepare for your retirement. And speaking of retirement, you’ll want your mortgage gone by the time that day arrives, that way you won’t need nearly as much income and your retirement portfolio will last much longer.