Please be creative.
Macro and Micro Rules
What are the general rules? (Research. Don’t forget to cite references)
Ten Principles of Personal Finance (Research. Don’t forget to cite references)
Spending your paycheck.
Order of young adult tasks.
Housing as a percent of your wealth
Discuss how you plan to use these rules in your financial life.
Loans
Consumer Loans
Discuss the type of consumer loans (not the details of your loan(s)) that you presently have and two other ways you could have financed the need. If you have no loans, then detail the pros and cons of three types of loans you think you may use in the future.
Home and car loans
Discuss how to go about getting a car loan. Detail the important parts of the loan agreement and the overall costs involved.
Discuss how get a House mortgage. Detail the important parts of the loan agreement and the overall costs involved. How can you reduce costs? What type of loans should you avoid?
Insurance
Discuss why you need insurance and how this will change over your life.
Why do deductibles matter?
Does insurance protect from all eventualities?
Life insurance needs – explain the distinct types and your plans.
Health insurance – explain how to have health insurance, and the various coverages you can get.
Do you plan to obtain Life Insurance. How much coverage would you plan to apply for life insurance? Why?
Explain your need for disability income insurance. Where does it come from?
Long-term care is not covered by Medicare. How would you prepare for Long-term care?
What is a hybrid insurance? Explain how it works. Hint: Here are some examples: New York Life Asset Flex Plan, MassMutual CareChoice Select.
Investments
Explain your financial goals for your future.
How does this fit into your willingness to take risk?
Knowing something about yourself, explain how you are going to balance you attitude toward risk and your needs for return.
What are efficient markets and what does that tell you about the way to success in your financial future.
Discuss three ways you plan to invest in the future. Discuss the details and benefits of these different instruments and /or markets.
What tactics are you going to employ to ensure success in meeting your financial goals and sleeping at night.
What amount is insured if you put money in a bank? And in a brokerage account?
Life Cycle Issues
What is the average social security paycheck? (You must cite your reference. ) Is it going to be enough for you to retire? If not, what is your plan?
Conclusion
Write this after you have finished other parts, and then write your introduction so the conclusion and introduction agree.
What is your plan? (first twenty, next 80 years)
How will you attain it?
