Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

her monthly gross income is $1,833.33, and her personal net worth is $10,772. as well, her deductions are listed as two, and it is implied

image text in transcribed

her monthly gross income is $1,833.33, and her personal net worth is $10,772. as well, her deductions are listed as "two", and it is implied that she lives in DC. she has a three year old son that she wants to save college money for, and she may need a retirement account. how does one calculate the deduction amount from her monthly gross income, and how does one get her monthly net income? as well, what should be done in terms of investments, interest, etc.--how does one make a 10-year financial plan for a single mom?

Financial Makeover - 10-year plan TASK You are a financial planner who has just been given a new client. Her financial profile has been sent to you, and your client's name is Jennifer Russell. Your job will be to prepare a financial plan for Jennifer that considers her goals and considers her future. Jennifer wants a ten-year plan that will put her and her young son in good financial shape. As all good financial planners know, you must find Jennifer's expected monthly net income. You must create a budget for her that meets her financial goals. Present the budget in a table and also using a chart or graph. Explain your choices to her. Make sure that your presentation to Jennifer includes all the elements, charts, graphs, calculations and explanations specified in the project description. Based on your advice, prepare a financial plan for Jennifer that shows Jennifer's projected financial position ten years from now. DETAILS In order to complete your financial plan, you must do some research, some calculations, and some writing. Your completed project must contain: The net monthly income of the family, and a revised budget that will help the family meet its financial goals. You need to give the budget in tabular and graphical form. Plans and projections for the post-secondary education of the child. You must include your oth of thodunntion inventmant abaison and rationala 20 wallacaronboroicating the Financial Makeover - 10-year plan TASK You are a financial planner who has just been given a new client. Her financial profile has been sent to you, and your client's name is Jennifer Russell. Your job will be to prepare a financial plan for Jennifer that considers her goals and considers her future. Jennifer wants a ten-year plan that will put her and her young son in good financial shape. As all good financial planners know, you must find Jennifer's expected monthly net income. You must create a budget for her that meets her financial goals. Present the budget in a table and also using a chart or graph. Explain your choices to her. Make sure that your presentation to Jennifer includes all the elements, charts, graphs, calculations and explanations specified in the project description. Based on your advice, prepare a financial plan for Jennifer that shows Jennifer's projected financial position ten years from now. DETAILS In order to complete your financial plan, you must do some research, some calculations, and some writing. Your completed project must contain: The net monthly income of the family, and a revised budget that will help the family meet its financial goals. You need to give the budget in tabular and graphical form. Plans and projections for the post-secondary education of the child. You must include your oth of thodunntion inventmant abaison and rationala 20 wallacaronboroicating the

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Income Tax Fundamentals 2013

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

31st Edition

9781285586618

Students also viewed these Finance questions