Article Writing Homework Help
Using the budget in part 1; Use as many time lines as you need forecast all your projected savings(investments) to get each investments future value. You will have to determine your PV, I/y, N, PMT th
Using the budget in part 1; Use as many time lines as you need forecast all your projected savings(investments) to get each investments future value. You will have to determine your PV, I/y, N, PMT then calc FV
If you don’t have any idea on the I/y you could use 5 or 6% to be conservative. N depends on your current age and when you think you will retire.
Savings
401k or (403B) whichever you use
IRA’s….
Home Ect…….
Once you add up all the future values from step 2 above, and do a time line to determine how much you will be able to spend each year assuming you are going to spend all your money. I.e. your future value will be 0. To calculate N, you have to make a lot of assumptions. For example, if you are planning on retiring at age 65 and think (hope) you will life until you are 90 (25 years) your N will be 25.
