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Need Help woth Part 2A and Part 2 B please thank you. Savings 401k or (403B) whichever you use IRA's.... Home Ect...... Once you add
Need Help woth Part 2A and Part 2 B please thank you.
Savings 401k or (403B) whichever you use IRA's.... Home Ect...... Once you add up all the future values from step 2 above, and do a time line to determine how much you will be able to spend each year assuming you are going to spend all your money. l.e. your future value will be 0 . To calculate N, you have to make a lot of assumptions. For example, if you are planning on retiring at age 65 and think (hope) you will life until you are 90 (25 years) your N will be 25 . Part 2 B: (must be completed in Excel) - Scenario Analysis: Run at least 3 different scenarios to see the impact of decisions. Some examples may include: What happens if you delay start of Savings for 5 years? What happens if you work 3 more years? What if the interest rate is higher/lower? What if you have more to save after student loans are paid off? Part 3: (must be turned in Word Via SafeAssign) - Reflection Once you are completed with the three sections above write a page or two on what you learned from this project. This is open ended but I expect at a minimum of 1 page as a write up. Reflection could include but is not limited to the following questions: What did you learn? Was there anything unexpected? What changes will you be making as a result? How do you plan on investing their funds - why? How often will you review the Plan? What benefits are there to budgeting? Personal Budget Project Part 1 Savings 401k or (403B) whichever you use IRA's.... Home Ect...... Once you add up all the future values from step 2 above, and do a time line to determine how much you will be able to spend each year assuming you are going to spend all your money. l.e. your future value will be 0 . To calculate N, you have to make a lot of assumptions. For example, if you are planning on retiring at age 65 and think (hope) you will life until you are 90 (25 years) your N will be 25 . Part 2 B: (must be completed in Excel) - Scenario Analysis: Run at least 3 different scenarios to see the impact of decisions. Some examples may include: What happens if you delay start of Savings for 5 years? What happens if you work 3 more years? What if the interest rate is higher/lower? What if you have more to save after student loans are paid off? Part 3: (must be turned in Word Via SafeAssign) - Reflection Once you are completed with the three sections above write a page or two on what you learned from this project. This is open ended but I expect at a minimum of 1 page as a write up. Reflection could include but is not limited to the following questions: What did you learn? Was there anything unexpected? What changes will you be making as a result? How do you plan on investing their funds - why? How often will you review the Plan? What benefits are there to budgeting? Personal Budget ProjectStep by Step Solution
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