This paper is intended to help you reflect on what you have learned

This paper is intended to help you reflect on what you have learned

This paper is intended to help you reflect on what you have learned in this class and how you want to use your knowledge to set up goals for your future. No two plans will be identical, but most will share some qualities.

• Start with a “Theme” – Clearly state your “Theme” as the primary message that your paper conveys or communicates.
• Start with a paragraph or two about how you see your future including career, family, what kind of friends and social life you foresee, what else you need to make time and money for, such as spirituality/religion, hobbies, exercise. The beginning will be short and focus on what your values and big goals are.
• Then start penciling in major goals and age you expect to achieve them. Include personal, career and financial goals.

Major goals for college students are likely to start with graduating from college and beginning a career. When do you expect to graduate? What career do you want? What is likely to be your first job toward that career? How much money is reasonable to expect in the beginning of your career? You already researched this for the budgeting assignment. When do you expect, or wish, to commit to a life partner? How does finding a spouse or maintaining that relationship fit with your career plans? Do you want to have children? Do you want to buy a house, and if yes, when? How much will that cost? How long will it take to save up the down payment (usually 20% of the cost of the house). Start with your current age and plan into your 90’s (just in case you live that long, you want to make sure you can still afford the essentials – and some fun!)

• Follow that with more detailed paragraphs for each decade of your life. Start with your current age and plan into your 90’s (just in case you live that long, you want to make sure you can still afford the essentials – and some fun!). For each decade project your career, job title, income and the amount you expect to save each month. What do you expect your investment philosophy be in this decade? How do you expect to grow your wealth? Include all the expected insurance policies you will buy. What is your expected lifestyle?

Your last paragraph can be your 60’s and on including whether and when you hope to retire, how you think your interests will have developed and how much money you will need to have a “good life” based on your own values. It’s hard to plan that far ahead, but your goals after your 60’s won’t change that much. They include having enough money for the rest of your life (which you can’t do much about if you have not planned starting in your 20’s or so) having some fun and covering medical costs. In your seventies, if things continue as they are now, you are likely to be healthy and active enough that you still want a significant “play- money” account. The important thing to think about is how much money you will need in your old age, accounting for inflation. You need to think about that when you are young or you won’t have a comfortable old age.