Let's assume I am age 22 with $0 in savings, $70,000 in personal income and $30,000 in yearly business income to complete the following:
This part of the personal financial planning project is where you put everything together. In this part you construct your personal financial plan. Specifically address the following required elements:
- Use working knowledge of personal finance to construct a financial plan considering life-stage adjustments.
- Use technology to help establish a personal financial plan (describe what you used, why and how helpful it was, importance of protecting personal financial information).
- Examine financial resources to help you make financial decisions (explain your steps and what you examined).
- Identify your short-, intermediate-, and long-term financial goals.
- Explain your personal risk tolerance and how that impacts your financial plan.
- Explain your time horizon and how that impacts your financial plan.
- Complete a personal financial analysis of your situation.
- Construct personal financial statements
- Construct a retirement plan as part of your personal financial plan (explain how time value of money impact this part of the plan).
|Due By (Pacific Time)
||12/10/2014 05:00 pm