the concept "pay yourself first". With this in mind, what is your advice to someone on paying off credit card debt and investing for their retirement? Do you feel as though they should pay off all credit card debt before investing for their retirement or is it best to start investing for retirement as soon as possible? Why? * 350 word minimum
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the concept "pay yourself first". With this in mind, what is your advice to someone on paying off credit card debt and investing for their retirement? Do you feel as though they should pay off all credit card debt before investing for their retirement or is it best to start investing for retirement as soon as possible? Why? * 350 word minimum
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- If you are an investor, you will put a sum amount in a bank account and will keep on adding that amount into that account until you want. Once you get to retire from your job you can start getting that amount in the form of constant or variable payouts. This amount considered as: A. Annuity B. Retirement planning C. Accumulate interestAdapting to a low-interest-rate environment. A retired couple has expressed concern about the really low interest rates theyre earning on their savings. Theyve been approached by an adviser who says he has a sure-fire way to get them higher returns. What would you tell this retired couple about a low-interest-rate environment, and how would you recommend them to view the advisers new prospective investments?Choosing a new bank. Youre getting married and believe your present bank is not a good fit. Discuss how you should go about choosing a new bank and opening an account. Consider the factors that are important to you in selecting a banksuch as the type and ownership of new accounts and bank fees and charges.
- II. Instead of buying insurance for retirement, you decided to set aside some savings in the bank. You believe that saving money in the bank is safer and more convenient than buying insurance. A)IfyouinvestOMR15,000nowat10%compoundedannually,howmuchwillbeinyouraccount after 20 years? B)IfyouinvestOMR15,000nowat10%compoundedquarterly,howmuchwillbeinyouraccount after 20 years? C)Discussthefactorswhatwillincreasethefuturevalueoftheamount.Assuming the interest rates are roughly the same, would you prefer to financeyour new company by getting cash advances on your credit cards or by taking out a second mortgage on your house? Why?Hello, Can you explain step by step question #1 and 2, what it means and how to solve it. Thank You 1. Explain how an ordinary annuity is involved when you take out an auto loan from a bank? 2. Explain why the last payment in an amortization schedule might differ from the other payments?
- Hi, my name is Titus Harmon. I am really having trouble understanding this question. I don't know how to plug it in to a finance calculator. From Personal Finance. Chapter 1. 5. Using the present and future value tables in Appendix A, the appropriate calculations on the Garman/Forguecompanion website, or a financial calculator, calculate the following: (a)The amount a person would need to deposit today to be able to withdraw $6,000 each year for ten years from an account earning 6 percent.A friend asks to borrow $47 from you and in return will pay you $50 in one year. If your bank is offering an 6.5% interest rate on deposits and loans: a. How much would you have in one year if you deposited the $47 instead? b. How much money could you borrow today if you pay the bank $50 in one year? c. Should you loan the money to your friend or deposit it in the bank? a. How much would you have in one year if you deposited the $47 instead? If you deposit the money in the bank today you will have $____ in one year. (Round to the nearest cent.)What is the difference between an ordinary annuity and an annuity due? If you were to save money in an annuity, which would you chose and why. Create a retirement plan budget. What will you need to budget if you are retiring. Provide an excel or word table showing your budget.
- Subject :- Accounting You have discussed your retirement plans with your significant other and plan to move to a state with a lower cost of living upon retirement. You plan on living off $85,000 annually. You understand that your retirement account will likely yield a 5% return. Using the 4% Rule, how much money do you need in your retirement account upon retirement?(round to the nearest dollar){DO NOT INCLUDE COMMAS OR $}Marisa Gale, a 30-year-old personal loan officer at Second National Bank, understands the importance of starting early when it comes to saving for retirement. She has designated $2,500 per year for her retirement fund and assumes she'll retire at age 65. QUESTION. NO 1.How much will she have if she invests in CDs and similar money market instruments that earn 4 percent on average? Round your answer to the nearest dollar. NO 2.How much will she have if instead she invests in equities and earns 8 percent on average? Round your answer to the nearest dollar. NO 3. Marisa is urging her friend, Nolan Ransom, to start his plan right away because he's 35. What would his nest egg amount to if he invested in the same manner as Marisa and he, too, retires at age 65? Round your answer to the nearest dollar. Nest egg amount at 4% = Nest egg amount at 8% =Your grandmother gave you money to start saving for retirement. You have $7.500 to begin investing in a GIC. Consider all factors in the decision. In a brief paragraph, justify your decision, including a description of all factors that would affect That dec