Letter of Last InstructionA letter of last instructions isn’t a.docx

Letter of Last Instruction
“A letter of last instructions isn’t a will or a substitute for a
will. It is a detailed list of everything a survivor needs to know
in order to handle your personal finances should anything
happen to you. Without one, you or your loved ones might have
to spend months–and perhaps hundreds of dollars–locating bank
accounts, safe-deposit boxes, and other particulars of your
financial life. People often put off writing the letter. It is–quite
frankly–a big job of organizing and detail gathering.”
(https://extension.usu.edu/files/publications/factsheet/FL_FF-
19.pdf)
The LLI covers other issues as well. Here are the main
concerns
1. Burial wishes (cremation/burial, location) and funeral
arrangements. You could also address your DNR wishes and
organ donation.
2. Assets and dispersal (minimum 5 items, or more….)
Item
Asset Value
Sentimental Value
Recipient

3. Personal statement
“Knowing where these items are located will make it easier and
less stressful for your family to settle your estate when you are
gone. The grief experienced by surviving relatives only
becomes more difficult to manage when important information,
some of which is needed almost immediately, is misplaced.
Providing instant access to a document may prove vital to
insure that certain, essential instructions are carried out as
planned.”
https://extension.usu.edu/files/publications/factsheet/FL_FF-
19.pdf
Fi 218 Personal Finance
Salary and Job Preparation Worksheet
What is your desired career field?
What is your desired position?
Will you be able to start in this position or need to work up to
it?

If you need to work up to your desired job, what jobs will you
have prior?
What are the necessary qualifications for your desired position?
What is the average starting salary? (Find from 3 sources)
1.
2.
3.
What are the steps you are going to have to take to obtain your
desired position?
MechanicalEngineeringInternship
DesignEnginner Intern
I think that I am readybecause I have
done a lot of 3D designprograms inschool and that
whattheyneed
I think doing Engineeringprojectwillhelp a lot because
we will use the 3 Dprograms that theyrequired
Thenecessaryqualificationforthisposition are
experiencewith the3 Dprogram
3edyear in MechanicalEngineeringprogram
Theaveragestartingsalary is 1226perhouse
BB
The firststepis readingcarfallyaboutthecompany and
f

3
https://www.indeed.com/career/engineering-intern/salaries
https://www.scranton.edu/studentlife/studentaffairs/careers/reso
urce-pages/how-much-
should-you-pay-an-intern-nace.pdf
https://www.payscale.com/research/US/Job=Engineering_Intern/
Hourly_Rate
WORKSHEET 1 -
GOAL
PRIORITY LEVEL
1 low- 10 high
DESIRED
ACHIEVEMENT
DATE
ANTICIPATED
COST
Accumulate emergency funds equal to
3 months' living expenses
Pay off outstanding bills
Pay off outstanding credit cards
Purchase adequate property, health,
disability, and liability insurance
Purchase a major item

Finance a vacation or some other
entertainment item
Other short-term goals (specify)
Save funds for college for an older child
Save for a major home improvement
Save for a down payment on a house
Pay off outstanding major debt
Finance very large items (weddings
Purchase a vacation home or
time-share unit
Finance a major vacation (overseas)
Other intermediate-term goals (specify)
Save funds for college for a young child
Purchase a second home for retirement
Create a retirement fund large enough
to supplement your pension so that
you can live at your current standard
Take care of your parents after they retire
Start your own business
Other long-term goals (specify)
PERSONAL FINANCIAL GOALS WORKSHEET
Make sure your goals are realistic and stated in specific,
measurable terms. In addition, prioritize your goals and identify
a specific time frame
within which you would like to accomplish them. The listing
below is not meant to be all-inclusive, but merely to provide a
framework within which
goals can be formalized.
Short-Term Goals (less than 1 year)
Intermediate-Term Goals (1 to 10 years)

Long-Term Goals (greater than 10 years)
7 Thebeginning theyear 4,698
co beforeendoftneyear 293
is beforeendofeachmouth ooo
6 Tnebeginingoftheyear 499
q Thebeginingofeachterm 500
6 Onsummervication 3,000
to aftersyearsfromnow 160,000
8 After years 5,00010 In zyeers 3 sooo10 In Zyears 45,860
7 In 3years Soooooo
2 In7years 2003000
z In7years 10,000
10 Into years 16090008 In 152oyears 350,000
10 In 35years 209000 soooooo
10 In 10Years 100,000
9 In 15years 1 ooo
PSU Health Insurance Review
Search online for information on Portland State University’s
health insurance plan.
Answer the following questions with the information you find.
Who is the heath insurance provider?
_____________________________
How much is the deductible? _______________________

What is the co-payment for a visit to the hospital?
__________________
What is the co-payment for a visit to your doctor?
_________________
What is the cost for insurance per term? _________________
Are you covered during the summer if you do not attend school?
__________________
What is the maximum medical expense covered?
____________________________
What is the out of pocket maximum?
___________________________
What was something you learned about PSU’s coverage that you
did not already know?
Do you have heath insurance from another source?
_____________________
If yes, what about your health insurance is is better and
qualified you for the waiver?
Pacificsource
300
Depend on the hospital SHACis0
890
NO

2,500 perpolicyyear
Afterpaying100 ofpolicyyearpayleft
I did not havemy government scholarshipthe first
Year So I had PSU'shealth insurance Theonly
thing that I did not know about was thepolicy
year
yes
I have health insurancefrommygovernment and
covered 100 The provider is UnitedhealthCare
I can waive becausemygovermentprovide
it for
me
Financing College Activity Sheet
Career and Schooling Needed Your Answers
1. Ideal job:
2. The average staring salary:
Can find on Bureau of Labor Statistics
http://www.bls.gov/oes/current/oessrcst.htm
3. What degree will you need in order to obtain your ideal job?
4. How many years of school must you attend?
Cost of School
5.�Using the Net Price Calculator determine your Net Price
after
grants and scholarships. Each college posts their own
calculator.
IUUQT��ODFT�FE�HPW�JQFET�OFUQSJDFDBMDVM

BUPS��
6. Multiply the Net Price by the number of years you have
remaining
Paying for School
7. Of the above amount, how much are you able to pay for
personally?
8. Will your parents be helping to pay? If so, how much?
9. Subtract both your and your parents’ contribution toward the
net
price.
This is the amount you will need to borrow.
Student Loans
10. Do you have student loan debt already? If so, how much?
11. Add existing student loan debt to the about you will need to
borrow.
This is your total estimated student loan debt.
12. Estimate your monthly student loan payment after
completing
school.
http://www.finaid.org/calculators/loanpayments.phtml
13. How much total interest will you pay?
How does your total monthly student loan payment compare to
your expected monthly salary?
Have you ever figured your total cost for school and debt
before?
Does this exercise make you want to change some of your
decisions about how to pay for
college? Please explain.

MechanicalEngineer
51860
MechanicalEngineering
5Years
I havegovernment
scholarship notpayback j
O
MO
O
NO
O
I am lucky that I have SaudischolarshipbecauseIgotgoodgrade
in highschoolThus mysalary 3ooo and I donot have topayschool
Mo
It is not becausecollegeinmycountryfor
free but if we getgreatgrade inhighschool
mygovermentsendus to the U.s andpayforUS
REFLECTION PAPER OVERVIEW
This paper is designed to give you the opportunity to reflect on
your learning throughout this
course. We have provided an outline to help guide you through
the required sections of the
paper. Overall design and requirements are listed below.

• Cover page with your name, course, date and professor
• 12-point font, single spaced
• 2,000-word count minimum – 2,200 maximum.
• Must be turned in as one PDF or word document
o You can Google how to turn a document into a PDF for
guidance and for free
applications to help if needed
o Please be sure to keep all the headings in order with
approximate word counts in
each sub headed section.
Headings, suggested word count (+ or – 10%) and required
components:
1. Introduction (100 word count)
• Introduce yourself
o Reason for taking this course and its importance in your life?
o What is your relationship with money up to this point in your
life?
o Would you recommend this course to others? Why or why
not?
2. Goals (400 word count – based on worksheet 1 & 2, and
interviews)
• Outline 3 short, intermediate and long-term goals (9 total).
How much will each goal cost
and what is your plan to reach it? Make sure that you plan
actually works within your

budget.
o Sample: Short-term goal 1: Save up for spring break vacation
Cost: $1,500
Will put $100 from each paycheck towards saving for this goal.
• Reflect on the interviews you conducted regarding goals
o What did you discover about the people you interviewed and
yourself?
3. Career Planning (200 word count – based on resume and ideal
job sheet)
• What is your ideal profession and job?
o What are the salary projections for desired position? (Cite
sources)
o What needs to be done to prepare yourself to qualify for this
position?
o Is this salary going to provide you with the lifestyle you
want? Explain.
o Why should you always have an updated well formatted
resume?
4. Budgeting (200 word count – based on worksheet # 4, dollar
diet and worksheet
#7)
• What is your current net worth?
• What is your budget tracking system?
o Discuss your budget vs. actual (incorporate information from
your Dollar Diet)
o Did your actuals and projected align? Where were the
differences? What was
surprising to you? Have you made any changes in your

spending?
5. Your Credit (200 word count – based on credit score research
and debt pay down)
• Do you have a credit score and if so, what is it? How would
you build your score based
on your research? Why is a credit score important?
• Do you have debt? If so how what is your strategy to pay it
off? If not, what is your
strategy to keep your debt low and manageable?
6. Financing College (200 word count – based on financing
college worksheet)
• How are you financing college?
o What is your student loan debt going to be and the payment
post-graduation?
Please determine your specific student debt and APR’s. If you
have no student
debt (36% of our students don’t) how much will you need to pay
to complete your
college degree. What is your plan for paying your costs?
o What is your plan for your children's college education? Will
you be paying for
their college and if so how?
7. Purchasing a Home (200 word count – based on rent v buy
with Zillow and Freddie
Mac)
• Do you plant to purchase a home in the future? Why or why

not.
o Is there an advantage to buying versus renting?
o What is the current interest rate to buy a mortgage in
Portland?
8. Insurance (100 word count – PSU plan and/or auto insurance)
• Why is insurance such an important part of your money
management?
o What was discovered when conducting your auto insurance
review?
o What was discovered when conducting your health insurance
review?
o Do you need life insurance now? If so, how much do you have
and how did you
calculate it. If not, what future life events will require your
obtaining life insurance.
9. Retirement Planning (200 word count – Fidelity MyPlan and
Life Expectancy)
• What is your expected retirement age and life expectancy?
How many years will you
need to supplement after retiring?
o How much are you going to need at retirement, how much will
you need to put
away each year and how will you do this?
o How does your risk tolerance affect your meeting your
retirement goals?
o How much can you expect from social security based on your
expected salary?
Visit:
https://www.ssa.gov/retire/estimator.html?gclid=CJXrnNzeyc8C

FZJffgodLQEHzA
10. Estate Planning (100 word count – letter of last instruction )
• How are you going to make your wishes clear to your family?
o Do you feel your family (parents, grandparents) have their
estate in order?
11. Course Overview (100 word count)
• Highlight the most valuable lessons you have learned from
this course.
o How will you implement this learning into your daily life?
Appendices – for referral only. These worksheets have been
turned in and reviewed. We
are looking for specific information from each of these
worksheets and activities in your
reflection paper. They do not need to be included in your
reflection paper.
• Worksheet 1: Personal Financial Goals
• Worksheet 2: Financial Objectives
• Worksheet 7: Budget Tracker (budget and actuals)
• Dollar diet tracking (Mint.com or daily tracker)
• Resume
• Salary & Job Preparation Worksheet
• Worksheet 4: Balance Sheet

• Debt pay down
• Financing college
• Rent vs. Buy Activity
• Credit Score screenshot
• How to Improve a Credit Score summary
• Interviews
• Auto Insurance Review – or- Health Insurance Review
• Retirement Planning activity
• Letter of Last Instruction
REFLECTION PAPER OVERVIEWThis paper is designed to
give you the opportunity to reflect on your learning throughout
this course. We have provided an outline to help guide you
through the required sections of the paper. Overall design and
-
2,000-word count minimum –
in as one PDF or word documento You can Google how to turn a
document into a PDF for guidance and for free applications to
help if neededo Please be sure to keep all the headings in order
with approximate word counts in each sub headed
section.Headings, suggested word count (+ or – 10%) and
required components:1. Introduction (100 word count)2. Goals
(400 word count – based on worksheet 1 & 2, and interviews)3.
Career Planning (200 word count – based on resume and ideal
job sheet)4. Budgeting (200 word count – based on worksheet #
4, dollar diet and worksheet #7)5. Your Credit (200 word count
– based on credit score research and debt pay down)6.

Financing College (200 word count – based on financing college
worksheet)7. Purchasing a Home (200 word count – based on
purchase a home in the future? Why or why not.o Is there an
advantage to buying versus renting?o What is the current
interest rate to buy a mortgage in Portland?8. Insurance (100
word count – PSU plan and/or auto insurance)9. Retirement
Planning (200 word count – Fidelity MyPlan and Life
Expectancy)10. Estate Planning (100 word count – letter of last
instruction )
WORKSHEET 2—Financial Objectives Worksheet
The generic objectives provided are typical for people of all
ages and are geared to assist you
with your goal setting. Please rank the objectives on the
following scale.
0 – Not applicable at this time 3 – Important
1 – Not important 4 – Very important
2 – Somewhat important 5 – Crucial
Financial/Personal Objectives 0 1 2 3 4 5
Becoming more financially knowlegdeble
Improving record keeping methods
Finding a life partner
Starting a family
Aquiring additional home furnishings
Reducing revolving debt
Increasing savings
Reducing taxes

Paying off student loans
Evaluating insurance needs
Increasing insurance protection
Advancing in current career
Changing careers
Increasing investment diversification
Increasing investment return
Starting a small business
Planning for children’s education costs
Saving to return to college
Purchasing a vehicle
Saving for the down payment on a home
Purchasing a home
Caring for parents
Investing an inheritance
Saving for retirement
Retiring early
Traveling extensively in retirement
Giving to charity
Transferring estate assets
Other:
r
I
V
I
E

r
r
Abdulrahman Al Baalharith
[email protected] Portland, OR
971-533-0439
Education
Mechanical Engineering Major, Portland State University
January 2017 – Present
GPA: 3.44, Expected Graduation: Summer 2021
Skills
• Working on machines
• Hands on experience of using mechanical tools
• Can make effective presentations
• 2 years of experience working in a study group (still work
with them)
• Selected to the dean's list for Winter 17, which is a list of
students who have outstanding
academic performance.
• Native Arabic Language
• Fluent English Language (Second Language)
Experience
Intensive English Language Program- (PSU), Front Desk Office
assistance, Portland, OR Jun 2017-
Present
• Completed any immigration and student forms for students
that were requested in the office such

as such as enrollment letters and transcripts.
• Compiled film to create videos such as marketing.
• Answered phones call and greeted students in a courteous and
friendly manner.
Engineering projects on Groups, Portland State University,
Portland, OR April 2017 - August 2017
• Making a water pump using SolidWorks to make the impeller.
• Making a desk fan which would work depending on the
temperature using Arduino and coding.
• Making a fish tank using the Arduino red board and scrap
materials.
• Fingering out a solution for energy saving and planting times
problems, and coming up with an
automated gardening system which uses a solar panel for power.
Was made using a combination
of scrap metal and wood.
Financial Services-Portland State University, Front Desk Office
Assistance Portland, OR
September 2018 - Present
• Answer questions PSU students have in regards to their
student accounts.
• Update student information through PSU’s secure database
called Banner.
• Use banner database to access students’ account and answer
questions in regards to their
personal information.
The Saudi Arabian Cultural Mission (SACM), President of the

Saudi association in Oregon
November 2018 - Present
• Helping the Saudi student in Oregon to solve their issues.
• Communicated with Saudi embassy to help any student in
Oregon.
• Making plans for every term for the events.
Balance Sheet Page 1W4WORKSHEETBalance Sheet -
Calculating Your Net
WorthAssetsValueCash$3,000Checking+$0Savings/CDs+$7,600
Money Market Funds+$0Other Monetary Assets+$0A.Monetary
AssetsA.=$10,600Mutual Funds$0Stocks+$5,000Bonds+$0Life
Insurance (cash-value)+$800Cash Value of
Annuities+$0Investment Real Estate (REITs,
partnerships)+$0Other
investments+$0B.InvestmentsB.=$5,800401(k) and
403(b)$0Company Pension+$0Keogh+$0IRA+$0Other
Retirement Plans+$0C.Retirement PlansC.=$0Primary
Residence$37,5002nd Home+$0Time-
Shares/Condominiums+$0Other Housing+$0D.Housing (market
value)D.=$37,500Automobile 1$45,259Automobile 2+$0Other
Automobiles+$0E.AutomobilesE.=$45,259Collectibles$8,200Bo
ats+$0Furniture+$4,700Other Personal
Property+$2,059F.Personal PropertyF.=$14,959Money Owed
You$2,580Market Value of Your Business+$0Other+$0G.Other
AssetsG.=$2,580H.Total Assets (add lines A through
G)H.=$116,698
Balance Sheet Page 2W3WORKSHEETBalance Sheet -
Calculating Your Net Worth (continued)Liabilities or
DebtsValueI.Current Bills (unpaid
balance)I.=$3,022Visa$600Master Card+$1,500Other Credit
Cards+$0J.Credit Card DebtJ.=$2,100First Mortgage$02nd
Home Mortgage+$0Home Equity Loan+$0Other Housing
Debt+$0K.HousingK.=$0Automobile 1$0Automobile 2+$0Other
Automobile Loans+$0L.Automobile LoansL.=$0College

Loans$0Loans on Life Insurance Policies+$0Bank
Loans+$6,000Installment Loans+$0Other+$0M.Other
DebtsM.=$6,000N.Total Debt (add lines I through
M)N.=$11,122Net WorthH.Total AssetsH.+$116,698N.Less:
Total DebtN.-$11,122O.Equals: Net WorthO.=$105,576
Sheet: Sheet1
Sheet: Sheet2
Sheet: Sheet3
Budget Tracker: Personal Income Statement Worksheet
Directions: Fill in the green cells with your data. Be careful
not to modify the red cells.
Column B to be filled in for Homework 1 and Column C to be
filled in for Homework 4.
Blanks are considered not completed (fill in 0).
Month
Budget
Actual
Income
Income
Difference
Income
Wages and salaries
Wage Earner 1
0.0
Wage Earner 2
0.0
=Total Wages and salaries
3166.0
3166.0
0.0
+ Interest and Dividends
0.0
+ Royalties, Commissions and Rents
0.0
+Other Income

0.0
=A. Total Income
3166.0
3166.0
0.0
Taxes
Federal Income and Social Security
0.0
+State Income
0.0
0.0
=B. Total Income Taxes
210.0
210.0
0.0
C. After-Tax Income Available for Living Expenditures
2956.0
2956.0
0.0
or Take-Home Pay (line A minus line B)
Budget
Actual
Amount
Spencing
Difference
Living Expenses
Housing
0.0
Rent
0.0
+Mortgage Payments
0.0
+Utilities
4.0
+Maintainance
0.0

+Reas Eastate and Property Taxes
0.0
+Fixed Assets-furniture, appliances, televisions, etc.
0.0
+Other Living Expenses
0.0
0.0
=D. Total Housing Expenditures
1549.0
1545.0
4.0
Food
Food and Supplies
11.0
+Restaurant Expenses
90.0
Did not go to resturent like what I thought
=E. Total Food Expenditures
500.0
399.0
101.0
Clothing and Personal Care
New Clothes
3.0
+Cleaning
0.0
+Tailoring
0.0
+Personal Care-hair Care
4.009999999999998
+Other Clothing and Personal Care Expenses
0.0
=F. Total Clothing and Personal Care Expenditures
210.0
202.99
7.009999999999998

Transportation
Automobile Purchase
0.0
+Payments
0.0
+Gas, Tolls, Parking
0.0
+Automobile Registration/Tags/Stickers
0.0
+Repairs
0.0
+Other Transportation Expenses
0.0
=G. Total Transportation Expenditures
150.0
150.0
0.0
Recreation
Movies, Theater, Sporting Events
0.0
1917 & Badboys movies each was 11
+Club Memberships
0.0
+Vacations
0.0
+Hobbies
0.0
+Sporting Goods
0.0
+Gifts
0.0
+Reading Materials (books, newspapers, magazines)
0.0
+Other Recreation Expenses
0.0
=H. Total Recreation Expenditures

22.0
22.0
0.0
Medical Expenditures
Doctor
0.0
+ Dental
0.0
+Prescription Drugs and Medicines
0.0
=I. Total Medical Expenditures
241.0
241.0
0.0
Insurance Expenditures
Health
0.0
+Life
0.0
+Automobile
0.0
+Disability
0.0
+Liability
0.0
+Other Insurance Expenses
0.0
=J. Total Insurance Expenditures
0.0
0.0
0.0
Other Expenditures
Educational Expenditures (college loan payment)
0.0
+Child Care
0.0

+ Other Expenses
0.0
=K. Total Other Expenditures
0.0
0.0
0.0
L. Total Living Expenditures (add lines D-K)
2672.0
2559.99
112.01000000000022
M. Income Available for Savings and Investment
284.0
396.0100000000002
-112.01000000000022
Did not go to resturent like what I thought and it make much
diffrernces
Is your income greater than your expenses, if not why?
No, it is not. I am planing for everything that I am paying for
before the bigining of the month
FIN 218
Rent vs Buy Assignment
Do some research to compare renting vs buying a house.
(Compare 2 years with 7 years of living in the same home – one
as a renter, one as an owner). Using any of the many sites
available (rmls.com, http://www.zillow.com/, etc) to search for
homes for sale. Find a home that you feel you would like to
live in once you are settled into your ideal career.
Give a brief description of the house:
Stunning four bedroom, two and one-half bathroom with 3,120
square feet of living space in the heart of Gresham. Beautiful
wood-like laminate floors throughout the main floor. Gorgeous
chefs kitchen with stainless steel appliances flows into the main
living area with a cozy wood burning fireplace. Upstairs you'll

find all bedrooms. Master suite with a suite bathroom, soaking
tub and spacious walk-in closet. Large bonus room just past the
laundry room. Fully fenced backyard with majestic trees.
One great feature about this home is that it's located on the end
of a cul-de-sac in a very quiet residential neighborhood. As you
walk in, the home is flooded with natural light from the large
windows surrounding the main living area. Another great
feature is how expansive the kitchen and main living area are,
they flow together seamlessly with an open concept feel, and it
is a great space for entertaining.
What is the listing price?
The listing price is $511,900, and it is $2,623 monthly.
How much are the property taxes?
The property tax is $6,615 for 2018 year.
Now find a comparable home for rent. You want to find similar
specifications so that you can compare apples to apples.
(Zillow does list possible rent cost on some homes, you may be
able use the exact same one!)
How much is the monthly rent?
The rent monthly is $1549.
Using the Rent vs Buy Calculator of Freddie Mac’s site compare
renting vs buying a house using the figures above.
http://calculators.freddiemac.com/response/lf-
freddiemac/calc/home10
Other factors you’ll need to know.
Renting
Monthly rent: From your research

Monthly renter’s insurance: Assume $15 a month
Yearly rent increase: Assume 3%
Home Purchase
Purchase price: From your research
Down payment: 20%
Homeowners’ insurance: $600
Property taxes: From your research
Maintenance: $1500
Loan Info
Terms: 30 Year
Interest rate: Find out the current 30-year interest rate
(bankrate.com is easy)
Loan origination: $1500
Discount points: 0%
Other settlement services: $3,000
Other Assumptions
Appreciation: Assume 5%
Years in home: 7 years
Selling costs: Assume 6%
Your state and federal tax rate: 35%
Your savings interest rate: Find this out from your bank
(Usually pretty low)

Calculate results:
You will save $185,456 by buying instead of renting over the 7
years.
Will owning save you money? If so, how much?
Yes, $185,456.
What is the difference in payment of renting vs buying?
The difference is the taxes and some of the maintenance, and so
on.
What else should you be considering for this “life” decision?
I consider that owning is the best for me and my family.
Sheet1Month Jan-20Total income 3166Tax210Rent1186Phone&
ipad104.41Internet 60Utilities66Amazon prime 6.49Google
memori1.99Food399Apl itunes16.97Transcript 5Parking &
Gas150Travel, clothing, etc224.99Dental241Net income494.15
summary on how to improve/establish a credit score
FA 218
Improving or establishing a credit score may take up time as
there is no shortcut that can
probably yield the stipulated results as this are likely to
backfire. The only way that can be used
involves taking up the needed time and being responsible in
managing by starting with repairing
the credit history before even starting to improve the credit

score. There are several ways that
can be used in improving the credit score and this include;
(Dratch, 2016).
Watching out for the credit balances as the amount available on
the credit card and the
amount which is being used matters a lot. It very advisable that
one should maintain their credit
rating to lower than 30% as this can be achieved by paying up
the balances so as to keep the
balances lower (How to Build Credit - Establish, Maintain
Repair Credit| Discover, 2016).
The second option is by eliminating credit card balances that is
owned by an individual as
the number of cards which have several balances is also a
determinant of this score. Which
necessitates that one to pay off all the small balances and even
settle to only using one of this
cards. This may also entail paying your bills on time as timely
payments has an effect in the
credit reporting of a person as failing to pay this bills on a
timely basis also affect ones credit
cards negatively (Fay, 2016).
Lastly, one may decide to talk to their creditors so as they can
prepare a payment plan in

the events when one may have problems with delayed payments
or when one is unable to pay of
their bills. This would save the credit score as it would avoid
the unnecessary problems arising
from the late repayments.
In conclusion, It’s very important that one have a good credit
card history as a positive
credit card can help in most of the future financial problems
such as when buying some assets,
and even in one’s daily transaction.
References
Dratch, D. (2016). 7 Simple Ways To Improve Your Credit
Score | Bankrate.com. Retrieved
October 30, 2016, from
http://www.bankrate.com/finance/debt/7-simple-ways-improve-
credit-score-1.aspx
Fay, B. (2016). Improving Your Credit Score -. Retrieved
October 30, 2016, from
https://www.debt.org/credit/improving-your-score/
How to Build Credit - Establish, Maintain Repair Credit|
Discover. (2016). Retrieved October

30, 2016, from https://www.discover.com/credit-
cards/resources/credit-scores/building-
credit/how-to-build-good-credit/
Retirement needs worksheet
Instructions:
Use the calculator at
https://www.calcxml.com/calculators/retirement-calculator
Calculator Settings:
1. Under Current annual income, use salary projections for your
career after graduation, not your
current student income.
2. Enter the other fields (Current retirement savings, Desired
retirement age, Number of years in
retirement, etc), using your own situation.
3. Click Next
4. In the assumptions tab
a. Expected Inflation = 3% ,
b. Replacement income at retirement = 90%,

c. Pre-retirement invest return = 8%
d. Post-retirement invest return = 6%
5. Click Next
6. Select yes for Social Security and your marital status. Leave
the Social Security amount override
= 0. (The calculator will determine your SS retirement benefit,
based on your income).
7. Click Calculate and scroll down to look at the results
8. Save PDF report (scroll down, “PDF report button).
9. Scroll to top and change the SS override to $1000 (this is to
simulate the possibility of reduced
benefits when you get to retirement). Calculate and save PDF
again. (This PDF report will be
attached to your end of term paper.)
Questions:
What is your necessary savings rate, with full SS and reduced
SS?
The saving rate for full SS is going to be 1%, and for the
reduced SS is going to be 0.
How much do you need to save each month, with full SS and
reduced SS?
I need to save $103with full SS, and I need to save nothing with
reduced SS.

What is the total amount you need to save for retirement, with
full SS and reduced SS?
The total amount That I need to save for retirement with full SS
is going to be $8,623, and $0 with the
reduced SS.
What happens if you change your retirement spending to 100%?
(Click on “Edit” and change the
Income Replacement entry to 100% and run calculator.)
What happens if you change it to 80%
If the retirement spending is 100%, the retirement account at
age 85 is going to be reduced. However,
when I change it to 80%, the retirement account at age 85 is
going to be increase.
What happens if you put your pre-retirement investment in a
savings account paying 2% vs a
investment portfolio returning 8%?
If the pre-retirement investment in saving account paying 2%
instate of 8%, the retirement account at
age 85 is going to be reduced.
Sheet1Debt Paydown WorksheetMonthly PaymentAPRMin.
PaymentRank for paying offCommentCurrent Bills (unpaid
balance)460Visa350Master CardOther Credit Cards110Total
Credit Card Debt460First Mortgage02nd Home Mortgage0Home
Equity Loan0Other Housing Debt0Total Housing0Automobile
115000Automobile 20Other Automobile Loans0Automobile
Loans15000College Loans0Loans on Life Insurance

Policies876Bank Loans0Installment Loans0Other0Other
Debts876Total Debt16796
Sheet2
Sheet3
Conduct interviews
FA218
February 22, 2020
Asking people with different age about their financial goal it
made me think deep about
some stuff that I never thought about. It was so fun that I got
benefit of people thought about
their financial goals specially the long-term goals. I met 5
people with different age, and they
were 18, 21, 28, 34, and 47 years old. I would like to say that
the two people who are 18 and 21
years old have close thought about the financial goal. They both
hope that their expenses less
than their income, and this goal was common to the most of the
people. Also, 18 years old girl
was hoping her financial Aid cover her tuition without any
problems until she graduate.

However, the 21 years old guy hope that he graduate and get a
good job, so he can pay back his
financial Aid.
The people who are 28 and 34 years old have close goals too.
The most important goal
for them is their house and cars. The 28 years old guy hope that
he finish financing the car by the
end of the year, and he is planning to finance a house after.
However, the 34 years old person
short-term goal is the summer vacation with his children. And
he is trying to save money to
travel without effecting financing his house.
For my neighbor who is 47 years old, his thinking is mostly
about retirement. He run his
own business, and he is an engineer in Daimler company. He is
telling me that having business
with our job is important to face the expenses in the life. For his
short-term goal is mostly about
his profit every year from his own business.
In my perspective, I found out that life is levels depend on our
ages. I think that adult

people who thinking about their school and starting their lives,
and people in 25 – 40 are thinking
about the life need such as cars and houses. However, people
who are close to 50s are thinking
about their retirement. It important that we know what our goal
would be in different ages.

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