For this assignment, you take on the role of a personal retirement planner who is preparing a memo for your client. In the memo, explain to the client the financial and risk considerations that go into planning for retirement.
Instructions
Write a 4 page paper using the following instructions:
- Describe the importance of factors to consider when developing a retirement plan. These will include age, marital status, number of dependents, health, life expectancy, and other sources of income such as social security and pensions.
- Examine the relationship between risk and return and its impact on decisions about saving for retirement. Provide examples of the relationship.
- Explain how risk factors (such as age and personal risk tolerance) impact the allocation of assets included in a retirement plan. Support your explanation with examples of how asset allocation changes as the risk factors change.
- Analyze how fiscal and monetary policies may impact retirement plans.
- Research how changes in fiscal policy and monetary policy can impact retirement savings.
- This research should include how changes in policies, including interest rates, tax rates, and policies that impact savings (IRAs, 401k), can impact retirement plans.
- Evaluate the implications of the time value of money with respect to saving for retirement. Support the answer with specific examples and explanations.
- Use 4–5 sources to support your writing. Choose sources that are credible, relevant, and appropriate. Cite each source listed on your source page at least one time within your assignment.
