Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

What would be some good recommendations for John if he were to work on trying to move out with his current situation? What are some

image text in transcribed

What would be some good recommendations for John if he were to work on trying to move out with his current situation?

What are some good questions to formulate to ask John?

The Budget John is twenty-three years of age and a recent college graduate. He has savings of approximately $5,000. He currently lives at home with his parents and younger siblings, but plans to move out soon. John works for Best Buy in their retail management training program. The company offers a 401K plan but John did not enroll. John is currently working in the Best Buy store at 86th and Lexington Ave. on the Upper East side, but after he finishes training next year, he could be assigned to any store in the five boroughs including his present store (he will be allowed to make a request, but the company doesn't guarantee a location). Lucky for John he does not have any debt. He attended CUNY and graduated without student loans, and while he has a credit card, he does not have any outstanding balance. John earns a salary of $50,000 annually. He gets paid bi-weekly and in addition to taxes, his paycheck is reduced by $35 for the medical/insurance plan at Best Buy each pay period. To estimate John's take home pay after taxes but before the insurance deduction, go to this site

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Accounting questions

Question

What is management growth? What are its factors

Answered: 1 week ago