Chris is a 26 year old friend from college who works as a manager at a local bottling factory. He just finished paying off his student loans and credit card debt and is asking for your advice to help him budget his money for the next 20 years. As part of this assignment, create a detailed plan, with your assigned group, for Chris for the next 20 years. The detailed financial plan should include (but not be limited to):

• Taxes
• Housing
• Transportation
• Living
• Entertainment
• Retirement

Use the following assumptions about Chriss earning and inflation:

• Salary: $80,000/year
• Annual Pay Increase: 4%
• Annual Inflation: 2%

Identify major purchases made in the next 20 years (house, car, etc.) along with major lifestyle changes (marriage, kids, etc.). Make sure that your financial plan incorporates major purchases and lifestyle changes.