Before you begin to plan for investing you should first have an actual plan that is realistic, and specific. Your plan needs to have availability for emergency purposes. Its good to ask yourself questions about your budget, emergency fund, and how will it benefit you and your goals in your future. When you plan for investing, you should understand your long term goals before investing and make sure that you actually have the funds to even invest in something, as well as making sure that you understand what it is that you are investing in.
2. At what age do you hope to retire? How do you plan to incorporate your retirement in your personal financial plan?
To be honest I don’t know when I would retire or plan on retiring. Anything could happen throughout the years and someone may not be financially stable enough to say that they are going to retire. But that is why I feel that putting away some funds/ saving up money aside from social security so that you can be able to retire at a reasonable age, between 60-65 I think would be a reasonable age to retire.
3. Refer to pg. 391 in Personal Finance and review Concern about Retirement Benefits in the Future located at the following link: https://ecampus.phoenix.edu/secure/aapd/materials/videos/FP101.html .
What is Social Security? Discuss how it fits into your retirement plan. There are concerns that Social Security may have trouble paying full benefits in the future. Why does this matter to you now?
Social Security is considered a benefit program that is there to help people when it is time for the person to retire. Social Security fits into my retirement plan, because it will be one of my incomes in the future that I may depend on to keep my bills up, but since no one is sure if Social Security will continue you should have money set aside... [continues]
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