1) Why did you make the choices you did? What are the costs and benefits of these choices? 2) What will you need to do to ensure that you carry out this plan to fidelity? 3) What potential pitfalls do you need to avoid? 4) What obstacles, personal and systemic, might you face trying to implement your plan? PLEASE HELP AND ANSWER THESE QUESTIONS.
1) Why did you make the choices you did? What are the costs and benefits of these choices? 2) What will you need to do to ensure that you carry out this plan to fidelity? 3) What potential pitfalls do you need to avoid? 4) What obstacles, personal and systemic, might you face trying to implement your plan? PLEASE HELP AND ANSWER THESE QUESTIONS.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
1) Why did you make the choices you did? What are the costs and benefits of these choices?
2) What will you need to do to ensure that you carry out this plan to fidelity?
3) What potential pitfalls do you need to avoid?
4) What obstacles, personal and systemic, might you face trying to implement your plan?
PLEASE HELP AND ANSWER THESE QUESTIONS.
Transcribed Image Text:5 Year Plan (Nurse)
Project income-$56,275.74
Saving goals-$11,255.15
Monthly budget-$42,000
Investments- $5,627.57
Insurance-$1,400
Loans and repayment-$250
In this 5-year financial plan, I projected the income with a 3% annual increase, set a savings
goal of 20% of the income, created a monthly budget of $3,500, planned to invest 10% of the
income, calculated the insurance cost as $1,400 per year, and planned to pay off a $25,000
student loan in 5 years with an annual interest rate of 5%. This plan helps to manage finances
effectively and achieve financial goals.
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VIEWStep 2: Explain The choices made in this financial plan are largely based on prudent financial management pr
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VIEWStep 4: Explain Potential pitfalls to avoid include: Overspending more than the allocated budget, may impac
VIEWStep 5: explain Obstacles, both systemic and personal, that may be faced in the application of this plan
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