StudentShare solutions
Triangle menu

Projet 4 - Essay Example

Nobody downloaded yet

Extract of sample
Projet 4

The variances reflected the amount that needed to be earmarked for the vacation in Hawaii, life insurance of children, and the funds needed for the Christmas vacation, as identified under financial goals (Part 1). When these were not yet reflected in the Income and Expenses Statement for September, there was a surplus of $750. However, given that additional savings were needed for the planned expenses, no surplus was therefore reflected for October. Discuss what you learned about the budgeting process from this exercise and whether you feel you need to make any adjustments to your monthly budget. I realized that to finance planned vacations and other financial needs, the family needs to earmark an exact amount per month to save for these projected expenses. As shown from our comparative income and expense statements, the additional savings wiped our any surplus previously reflected. In this regard, in order to have a surplus amount, we should review some financial accounts and make little adjustments in our monthly budget. The budget for food allowance, transportation and miscellaneous could be adjusted to give way for surplus in the future statements. B. Retirement Savings Needs In estimating the retirement savings needs, a quick response to the Ballpark Estimate indicates that “Based on the assumptions you entered, you have now saved enough to allow you to replace 6 percent of your final wages (this includes income from Social Security). The percentage of total salary you will need to save from now until retirement age to achieve your desired income replacement rate is 140 percent. The dollar amount you will need to save this year is $46,924” (Choose to Save, 2011). Information from the Social Security Online indicated that for Retirement, “Your estimated monthly benefit amount, beginning at age 62 and 1 month in 2040, is $2,729.00. For your estimate, we assumed future increases in prices or earnings” (Social Security Online, 2011). This information indicate that I need to earmark more funds for savings for my retirement. At the current monthly salary being received, the projected monthly benefit from the Social Security is only $2,729, which is below what I currently receive from my salary. Given that I do not need to support our children at that age, I still need to support and sustain daily living needs, including health and medications. C. Revised Goals Worksheet A. Describe the Goal B. Dollar Amount Required? C. Deadline Date? D. Date to Start Saving?  Number of Months to Save? (C - D) Monthly Savings Amount Long term goals: Vacation in Hawaii Retirement Fund $5000 $32,400 Dec. 2012 Jan. 2012 Oct. 2011 Dec. 2038 16 months 324 months $312.50 $100 Intermediate LT Goals Life insurance for the children $3000 Oct. 2016 Oct. 2011 60 months $50 Short Term Goals House fund Christmas vacation Summer ...Show more

Summary

Finance and Accounting: Part IV Date Finance and Accounting: Part IV A. Comparative Income and Expense Statement for September and October Income September October Variance Income from work (mine) $ 2,800 $ 2,800 - Income from work (husband) 3,500 3,500 - Total Income 6,300 6,300 - Expenses Variable Expenses Food allowance 1,500 1,600 100 Transportation 900 1,000 100 Savings for emergency/vacations/insurance 300 1,000 700 Miscellaneous 300 150 (150) Total Variable Expenses 3,000 3,750 750 Fixed Expenses Utilities 300 300 - Telephone and Cable 250 250 - Housing loan payment 2,000 2,000 - Total Fixed Expenses 2,550 2,550 - Total Expenses 5,550 6,400 850 Net Surpl…
Author : stoltenbergted
Projet 4 essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Projet 4"
with a personal 20% discount.
Grab the best paper

Check these samples - they also fit your topic

IT Projet Management
With an increase of internet usage, customers prefer to view all required information via internet just on few clicks. These days, nobody likes to visit an office or an organization for general information. People usually prefer to have first hand information about the company, their business, policies, process, contact information via internet, website is the only way to get first hand information on just few clicks.
10 pages (2500 words) Essay
Q 4 week 4
nd ensuring company wide commitment, determining its own financial strength, critical evaluation of the required time period for appropriate levels of market penetration, developing appropriate pricing strategies and targeting cross border customers. The organizational
2 pages (500 words) Essay
Module 4
This form of satire is subtle but powerful 4. Harrison uses situational irony in his story: virtues like equality can lead to traits like corruption. He mocks the obsession of the world today to create an equal society for everyone. Lines like “"and everybody was
2 pages (500 words) Essay
French Discussion (Choosing a cadidate for a job)
organiser des conférences et des séminaires pendant ses ânées a l’université ; deuxièmement, il a travaillé pour 4 années dans le département des ressources humaines dans l’Organisation Municipale Générale de Lyon, ou il a organisé des différents projets
6 pages (1500 words) Essay
IT Projet Management
These days, nobody likes to visit an office or an organization for general information. People usually prefer to have first hand information about the company, their business,
10 pages (2500 words) Essay
Projet 4
However, given that additional savings were needed for the planned expenses, no surplus was therefore reflected for October. I realized that to finance planned vacations and other financial needs, the family needs to earmark an
4 pages (1000 words) Essay
Halo 4
Forerunners were attacked by a group of parasites and got totally destroyed. In revenge, Forerunners constructed a special tool to fight the parasites that
2 pages (500 words) Essay
Homework 4
The people should know that the US has the distinct responsibility of intervening in the atrocities committed by its recipients like
1 pages (250 words) Essay
4 questions
Hence the best foot forward is to enact steps which will encourage the Americans back to work. 2. With many jobs already being outsourced and many
1 pages (250 words) Essay
3D ProJet 5500x firmy 3D Systems
Such a process is achievable by mixing diverse ingredients, tailoring them and coming up with a final product v. Speed is an imperative characteristic of the printing technology. Efficiency the
2 pages (500 words) Essay
Hire a pro to write
a paper under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT
Comments (0)
Click to create a comment
Contact Us