https://padlet.com/cvporteus/a6t9f31jdw00 By: Cassie Porteus en-us 2018-06-17 03:23:16 UTC 2025-12-12 20:42:27 UTC hello@padlet.com https://padlet-assets.s3.amazonaws.com/icons/Alarmclock.png cvporteus https://padlet.com/cvporteus/a6t9f31jdw00/wish/267475369 They have most likely graduated from college recently, either from graduate or undergraduate school which means they are probably carrying a lot of debt. They also may be wanting to get married and possibly even start a family. ]]> 2018-06-17 03:33:01 UTC https://padlet.com/cvporteus/a6t9f31jdw00/wish/267475369 cvporteus https://padlet.com/cvporteus/a6t9f31jdw00/wish/267475415 Some of their possible goals in their life in this immediate moment may include, "...paying off debt, saving for a down payment on a first home, establishing a college fund for your children, and/or putting away funds for retirement," (Unit 6 Page 10).]]> 2018-06-17 03:35:17 UTC https://padlet.com/cvporteus/a6t9f31jdw00/wish/267475415 cvporteus https://padlet.com/cvporteus/a6t9f31jdw00/wish/267475464 They would be smart to put around 10% of their income towards retirement for now and possibly increase that amount over time but it is understandable to start off at a low amount with all of the changes in their life that may be occurring.  It would also be a smart decision for them to look into a 401(k) or an IRA, and, "Even if you only put a small amount of money into these accounts, you’ll get in the habit of saving and may potentially benefit from compounded interest," (Unit 6 Page 11).]]> 2018-06-17 03:37:21 UTC https://padlet.com/cvporteus/a6t9f31jdw00/wish/267475464 cvporteus https://padlet.com/cvporteus/a6t9f31jdw00/wish/267475536 Hopefully, they have invested and planned well financially in order to live a comfortable retirement. Now that they have retired, they are looking towards the last few decades of their life and deciding what they would like to do in order to make the best out of them. ]]> 2018-06-17 03:40:33 UTC https://padlet.com/cvporteus/a6t9f31jdw00/wish/267475536 cvporteus https://padlet.com/cvporteus/a6t9f31jdw00/wish/267475579 Some of their possible goals would be to just plan their retirement money out well so that it will be able to last them until the end of their life.  On a note unrelated to finance, they may also be trying to make the most out of what they have left. ]]> 2018-06-17 03:42:33 UTC https://padlet.com/cvporteus/a6t9f31jdw00/wish/267475579 cvporteus https://padlet.com/cvporteus/a6t9f31jdw00/wish/267475616 The first thing that they should do is, "Study the options [they] have for taking money from [their] retirement accounts and the impact they will have on [their] taxes," (Unit 6 Page 11). Then, they should redistribute their investments that were preparing for retirement into income-generating opportunities. ]]> 2018-06-17 03:44:29 UTC https://padlet.com/cvporteus/a6t9f31jdw00/wish/267475616 cvporteus https://padlet.com/cvporteus/a6t9f31jdw00/wish/267475707 I am currently only 16 years old, but I understand the importance of looking ahead into retirement plans. Last year as a sophomore, my pre-calculus class studied a unit on investments and how they can grow and it truly opened my eyes to the importance of starting early when it comes to investing and saving because the interest really does add up. ]]> 2018-06-17 03:47:28 UTC https://padlet.com/cvporteus/a6t9f31jdw00/wish/267475707 cvporteus https://padlet.com/cvporteus/a6t9f31jdw00/wish/267475748 My current goals in life are currently to do well and get involved in school so that I can get into a good college with a good scholarship.  I also got a second job recently in order to pull in more money to out into my savings account that I already have set up.  I want to start saving up for the major milestones in my life because I don't want to get there and then freak out because I have no choice but to drown in debt.  ]]> 2018-06-17 03:49:13 UTC https://padlet.com/cvporteus/a6t9f31jdw00/wish/267475748 cvporteus https://padlet.com/cvporteus/a6t9f31jdw00/wish/267475867 Once I get out of college and can grab a job, (hopefully as a lawyer) I'm going to start putting 10% of my income towards my retirement plan just to start out as well as investigate and look into a 401(k).  From age 35-55, I will also continue to follow the suggested track which would be, "...saving 10 to 20 percent of
your income for retirement – increasing the amount steadily over the years," (Unit 6 Page 11). That way, I'll be all set up for retirement in which I can place my retirement investments into other income-generating means and live the rest of my life in a comfortable financial position. ]]> 2018-06-17 03:53:17 UTC https://padlet.com/cvporteus/a6t9f31jdw00/wish/267475867