(200 words each and need no title page) SINGLE SPACED
1.Budgeting and Investment
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Read the Financial Planning Case at the end of Chapter 13, â€œFirst Budget, Then Invest for Success!â€ Answer the three questions listed below.
- How would you rate the financial status of the Garners before the air conditioner broke down?
- The Garnersâ€™ take-home pay is over $4,500 a month. Yet, after all expenses are paid, there is only a $220 surplus each month. Based on the information presented in this case, what expenses, if any, seem out of line and could be reduced to increase the surplus at the end of the month?
- Given that both Joe and Mary Garner are in their mid-30s and want to retire when they reach age 65, what type of investment goals would be most appropriate for them?
You read in Chapter 13 that it is vital to reduce your credit card balances and other consumer credit before beginning an investment program. You also need to start an emergency fund in case of immediate need. Why do financial advisers make such recommendations? Why should you reduce spending on credit before investing? Why shouldnâ€™t you carry large consumer debt and invest at the same time? On the surface, these questions may sound silly but there are sound reasons for asking them.
3.Real Estate Investments
Despite the crash of 2008 and 2009, real estate remains a solid investment over time. Why might this be the case? What is it about real estate that makes it a good investment? What kinds of real estate investment vehicles exist, and what are the characteristics of those vehicles? How do you, or could you, use real estate in your portfolio?
What is estate planning and why do I need it (or not)? What elements are contained in an estate plan? Do I need an attorney to help me prepare an estate plan? What is a trust and how is it used? Can I use life insurance to help me fund a trust? Do I need a will? What could happen to my estate if I die without a will? Why is it that so few people do estate planning?