Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Tali is graduating in May. She will earn a degree in general business, and she has accepted ajob in Dallas as a sales associate for
Tali is graduating in May. She will earn a degree in general business, and she has accepted ajob in Dallas as a sales associate for a midsize financial technology company. The positionwill require some travel. She has an opportunity for advancement, if she exceeds her job.expectations. She is seeking some financial advice to help her as she begins her new career.Heres the information she provided.Salary $Checking $Saving $BenefitsHealth insurance premium is paid for by her employer; she could have deductibles and copayments but she doesnt have any major problems or expect to need healthcare.Life insurance is paid for by her employer; twice her salary for term insurance.Retirement will be funded by a k If she contributes her employer will match itHousingTali has not yet decided where she will live. She would like to live alone, but shesdiscovered that rent, not including electricity, costs $ a month for a onebedroom unitthat is three blocks from where she will be working in Downtown Dallas. Her family lives inFt. Worth miles from Dallas and will allow her to live there for $ per month. Shehas her bedroom furniture from college and a dining room table. If she lives with herfamily, she will have to sell her furniture or store it Talis furniture is worth $ total.TransportationShe drives a Honda Accord that is now years old and has miles on it and gets miles per gallon. Talis car is valued at $ There are no major problems with it butshe would really like to get a newer car that gets similar gas mileage.TechnologySmart Phone her cell phone is paid for and is on her parent's planCable she wants to acquire membership of at least three streaming sites $ each andneeds internet access. Her parents do not have either cable or internet access.WardrobeLike most college students, she will need to purchase new work attire to adhere to thecompanys dress code. Luckily, she can dress business casual, but on some occasions, shemay need to wear a business suit. She doesnt have to buy everything at once but knowsthis is going to be something she will have to pay for.DebtSchool loans She has $ in loans and must start repaying months aftergraduation.Credit cards Her Visa has a $ limit She is carrying $ balance on it from herSpring Break Trip with her friends and is only able to pay the minimum every month rightnow. The interest rate is Roommates WeddingIn July, she will be a bridesmaid in her best friends wedding in South Padre. Thankfullyher dress is paid for. She will need to buy shoes, a manicure, and a pedicure. She will alsohave other expenses for travel, etc. for the wedding and she plans to help two otherbridesmaids host a bachelorette party in June. They are planning a trip to Las Vegas andrenting an Airbnb.Anticipated expenses prior to starting her new position on August stPay costs beyond deposit on college apartment. They have pets and the carpet and wallshave lots of marks and stains on them. They are sure they will have to pay when they moveout.Has to pay $ in parking tickets to the university before she can receive her diploma.Wants to go to take a road trip to Miami with friends after graduation for at least a week.Wants to buy a graduation present for her boyfriend who is also graduatingAs a financial planner, describe how you would break the ice and establish a relationship with Tali. pointsAfter reading the case study, what questions would you ask Tali about her financial situation? Please share whyyou would ask those specific questions. pointsWhat do you think are the four most significant problems for Tali? pointsIdentify and describe two shortterm goals SMART goals for Tali. pointsIdentify and describe two longterm goals SMART goals for Tali. pointsWhat recommendations or suggestions do you have for Tali and why? Provide at minimum five recommendationssuggestions points
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started