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1) Please explain the idea behind what has come to be know as Systems Theory How does this apply in your own life? For example,
1) Please explain the idea behind what has come to be know as Systems Theory How does this apply in your own life? For example, in the real estate market of your choice: Economic Conditions Expansion Stagnant Recession Legal Parameters Authorization to Purchase Limitations Down Payments 1% 3% 20% Interest Rates 3% 2) Christians divide time into 2 large epochs: Before Christ or BC After Death (of Christ) or AD Life is similar to this in that: The first part of your life is the Accumulation Phase of your Life At some point or age, most people retire The second part of your life will be the Retirement, Expenditure or Disbursement Phase of your life What is your vision in this regard? At what age do you plan to retire? Is that age realistic for you, and why so? 3) When you are younger, you are in the "Accumulation Phase" of your life. During this period of your life, should you work, save, invest and grow your net worth as large as possible, and as quickly as possible, to insure your old age and retirement? However, is life forever, or is it temporary? If it's temporary, are you going to take you money and things with you when you pass? If you leave a lot of money behind when you die, have you made a major calculation error, as you could have lived a better life by reasonably spending down your net worth? How can the 3% to 4% rule help you to resolve the dilemma of saving and investing to protect your old age versus ruining your life by scrimping and eating ramen noodles every night? As, for example, Steve Jobs, John Lennon, etc. 4) Using your results from: https://www.ssa.gov/cgi- bin/longevity.cgi How many years are you likely to live, on average? Using your life expectancy in years, multiply that number by 365 days to estimate how many days you are likely to live Take your current age in years, and multiply that by 365 days Subtract how many days you've lived already from your life expectancy total days In the space to the right, write down your thoughts on the idea of making the best and highest use of your time: Your Life Expectancy in Years 365 days = Multiply the number of years that you have lived already by 365 Subtract how many days you have lived already from your Life Expectancy Days Your Life Expectancy Days Left = 5) "Becoming Wealthy" A. In the space provided, write down the precursors to becoming a "millionaire." B. Write down the formula for becoming a "millionaire." C. Explain how this formula works. A. Precursors V l s V s n M ss n Obj ct v s Tr n ng / Ed c t n M nt rs S pp rt N tw rk Formula for becoming Wealthy (not including compounding interest) Inv stm nt [$, hardest] x (1 + R t of R t rn (int r st r t ) [tricky] x T m [years are critical]
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