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Major Purchases: - Car: $30,000 - Home: $300,000 - Boat: $50,000 - Land: $100,000 Total for Major Purchases: $480,000 2. Personal Development: - Education: $50,000

 Major Purchases:

- Car: $30,000 - Home: $300,000 - Boat: $50,000 - Land: $100,000 Total for Major Purchases: $480,000 2. Personal Development:

- Education: $50,000 - Training: $10,000 - Private Business: $100,000 Total for Personal Development: $160,000

3. Family Development: -

Children's Education: $200,000 - Vehicles: $60,000 Total for Family Development: $260,000

4. Retirement Plans:

- 401k Investment: $500,000 - IRA Investment: $200,000 Total for Retirement Plans: $700,000 Total of all Major Life Expenses: $1,600,000

Review the approximate cost list that you made above. Compare the cost list to the average annual income that you expect to make

Write a summary of the following:

  1. Are you going to reconsider some of your lifetime financial goals? Prioritizewhich are feasible and which should be listed as "luxuries" or as not-so-important goals.
  2. What are your investment objectives (current income, retirement savings, capital gains) and what are your motivations for investing? The answer may be a compilation of many objectives, and your motivations may change over the course of your lifetime.
  3. Submit an initialrecommendation of investments that would fit your needs and generate the appropriate income needfor your retirement lifestyle. (think about stocks, bonds, mutual funds, insurance needs, real estate investments, home buying, etc). Explain why those investment vehicles (types of investments, not cars!) are appropriate.You are not required to assign a monetary amount at this time, just a list of recommendations along with an explanation of why those fit your needs.

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