You will develop a financial plan in first-person, for my expected life situation. implementing the issues presented in the class. This assignment needs to be, at minimum, 10 pages SINGLE-SPACED, using the 11-point Arial font.
This hypothetical should include, at a minimum:1. Income, and income growth
2. Family size and timeline
3. Expected living location
4. Spending based on life factors during “earning years”
5. Expected savings based on spending
6. Expected growth rate of savings (using average returns)
7. Expected year of retirement and spending during “retirement years”
8. Expected income sources during “retirement years”
Details:
Small tables can be part of the report, larger tables & spreadsheets should be part of the appendix (no limit on length)
Take into consideration inflation, promotions at work, unexpected life events, kids’ tuition, moving to different houses, family vacations, and any other small details that might come into play during my life.
Some details about me so you know what type of life to write about: I want to work in the Human Resources department of a Biotechnology company in Irvine, California (several biotechnology companies are located in this area), and I want to live in a two-story house in this area. Use the median salary from sources online, as well as calculations of promotions and changing jobs. I am planning for a family with a husband and two kids (getting married in 2026, and having two children within six years after that). I will be traveling to Israel every summer for a month because my entire family lives there, so account for family stays in Israel each year in addition to holiday vacations (Jewish holidays). Include certain expense splits (husband pays 60% and I pay 40%) with my husband who will practice law (use & cite online sources for median income in this field). Include paid maternity leave in my occupation projection. Include forecasted spending in various categories. Expected retirement age is 55 (I am currently 20 years old). Include detailed breakdown & charts detailing savings, Roth IRA, 529 Plan, etc.
Make sure to include long and detailed spreadsheets in the appendix of the project using the models I have attached (with numbers unique to me and my projected life). Include shorter charts and spreadsheets within the paper’s text, when relevant & necessary. The longer ones should go at the end, in the appendix. Also, cite any external sources you use.
Use this link in your writing: https://www.callan.com/capital-markets-assumptions…
BE AS THOROUGH AND DETAILED IN YOUR WRITING AS POSSIBLE! Show that it is well-thought-out.
You will develop a financial plan in first-person, for my expected life situatio
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