Develop a list of financial goals

Reference no: EM1362362

Develop a list of two financial goals that you would like to achieve over the next ten years. They might include a major vacation, a car purchase, a home improvement, or a college education for one of your children. Once your goals are written, develop a three-column table showing the goals, the future date for each, and the amount that will be required to achieve it. Calculate the required annual savings required for each goal. Then prepare a ten-year savings plan. The plan must include columns showing year, amount deposited, the interest earned each year (except the first), expected withdrawals, and ending balance. Calculations must be accurate.
b. Develop a balance sheet showing your assets, liabilities, and net worth. Use the balance sheet shown in the course materials as a guide.
c. Prepare an income statement for the last calendar year. Use your tax return to list your income and cancelled checks and credit card statements to classify and determine your expenses. Estimate expenses for which you paid cash.
d. Develop a master budget for the next calendar year using the format shown in the course materials.

My goals are: (1) Plan for an early retirement; Be financial independently after retirement
(2) Have my own profitable business

Reference no: EM1362362

Questions Cloud

Explain protecting consumers : Explain Protecting Consumers and Please respond to the following- Explain whether the U.S. government should do more to protect consumers or if consumers

Fast-food items and associated nutritional charts : Examine an ample assortment of cans, boxes, and labels from different food items or pictures of popular fast-food items and associated nutritional charts,

Plot demand schedule in graph below using blue point : Suppose that Jenny is the only consumer in the antique car market. Her willingness to pay for an antique car is $200,000. Based on Jenny's willingness to pay, plot demand schedule in the graph below utilizing the blue points.

Deming and technical support : What is Melissa's job not her job description and what might Deming say about this situation?

Develop a list of financial goals : Create a list of 2 financial aims that you would like to achieve over the next ten years. They might include a major vacation, a car purchase, a home improvement,

Negotiation style : Negotiation Style - Explain a dominant negotiation style based on the Thomas-Kilman model

Explain a state criminal statute prohibits conduct : Explain A state criminal statute prohibits conduct in a public place that may frighten others

Diagnostic tests to identify dieseases : Pick any two diseases that require diagnostic tests to identify them from the body system. For each of the diseases, explain the following:

Illustrate the effects on it of developments cited : Sketch a supply-demand diagram of the US Treasury bond market to illustrate the effects on it of the developments cited in part A. Label your diagram clearly.

User Account

All Pages