Can everyone spend less than they earn? Can you? Do you think it would be possible for you to save 10 percent of your income? What are some examples of expenses you might be able to eliminate?
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A 67.
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- In this question we are going to look at how small differences in your saving and spending practices can have big effects on your future financial circumstances. After paying all of your yearly rent/mortgage payments as well as other living costs like food and electricity, you have $2000 left over. You have the option of spending or saving this money or a combination of both. You are 21 today and you plan to retire when you are 65. If you put money in your savings account you will receive 5% per year compounded yearly. Make a diagram that shows how much you have in savings in each of the following cases: A. You spend $1500 and save $500 B. You spend $1000 and save $1000 C. You spend $500 and save $1500 D. You spend $0 and save $2000 Graph all situations on one graph. Assume that the amount of money you have after your living costs is constant at $2000 throughout your working life. thanks!!What would be the best way to for me to save money, for when I know i have money, i continue to spend until i run out16. You are thinking about going to graduate school to earn a master's degree, which you hope will allow you to earn more money. Which of the following is NOT an incremental cash flow associated with your decision to extend your schooling versus going into the workforce when you finish your undergraduate degree? A) the cost-of-living expenses, such as rent and food, while you are in graduate school B) the cost of tuition C) the lost income you could have earned by working rather than staying in school D) the cost of books and other supplies required for your graduate studies
- g. Living Expenses: Assume reasonable values for your living expenses. (You may adjust these numbers to fit your estimated costs, but a good starting point for monthly costs are Utilities: $150, TV: $40, Internet: $30, Cell Phone: $40, Phone: $40) You should also include estimates for food, gas, entertainment, and any other expense you can think of. What is your monthly payment for all of your living expenses?When you retire, a key goal is to be able replace about 80% of your pre-retirement income level. Social Security will cover a higher percentage of low earners’ needed replacement income than high earners’ replacement income. True or FalseReview your list of personal financial goals. For each goal, how does the U.S. Tax Code help or hinder you in achieving it? My main goals right now is buying a house, getting 10k in short term savings and saving for retirements
- 0. Assume that upon graduation you make$63,500per year. What are the legally required costs for Social Security, Old-age, Survivors, and Disability Insurance, \& Medicare for the firm you work for in both dollar values and percentages? How much will you have to pay yourself? How much would you pay if you were self-employed earning the same amount?What is the difference between an ordinary annuity and an annuity due? If you were to save money in an annuity, which would you chose and why. Create a retirement plan budget. What will you need to budget if you are retiring. Provide an excel or word table showing your budget.Buying a home can be considered part of retirement planning because: a) If you have a fixed mortgage, your payments will get smaller in terms of cost because of inflation. b) If you pay it off before you retire, your living expenses are significantly lower c) A home is a store of wealth d) All of these statements are true.
- How much will Mira receive if the net income earned is P 155,000?You are given $50,000 to invest (not pay bills). How do you invest the money? Explain why this is a good investment(s) and how it would benefit one's financial goals.You plan to buy a home for $100,000 in the future and you want to guarantee that you could afford it in the future. What would you buy/sell today to accomplish this in the future, and what would it cost in today’s dollars?