5 days ago Elizabeth Montgomery Retirement Savings Collapse Top of Form Elizabeth Montgomery Friday April 17, 2020 Math 115  Andrea Smith     I knew I wouldn’t reallly be working until I am out of school.  By delaying my income by just one year I will need to save an extra $500 a month approximately 22% more.  I also changed the monthly income based on different salaries and different jobs. That number really changes the amount of time I need to work in order to meet my retirement goals.  I have determined the less debt I incur now while going to school will significantly impact my future savings. I guess I will be driving my 18 year old car for ten more years.    What I learned by doing these calculation is that you need to learn how to save money.  Ways that you can save money is by not spending your money on junk. Another example would be not to go shopping.  Use your money on things you actually need for example paying for your house, buying food, paying the electricity bill, and paying for your car.  Maybe another way to save money is put your money in the bank so you are not tempted to use your money. Major in something in college that you can actually get a job right away.  Also just save your money. Don’t go out to eat because that can be a waste of money and expensive. Instead cook a meal at home so you are saving money. Maybe go to community college and save money so you will have enough money for graduate school if you want to go.  Or go to college instate so it will not be expensive. Just be careful on what you spend your money on and you will have a succefull life.  Word Count: 307 Bottom of Form DISCUSSION: In the last week of class, we are going to complete a reflection activity.  This discussion topic is to be reflective and will be using your own words and not a compilation of direct citations from other papers or sources. You can use citations in your posts, but this discussion exercise should be about what you have learned through your viewpoint and not a re-hash of any particular article, topic, or the book. Items to include in the initial thread:  · “Interesting Assignments” - What were some of the more interesting assignments to you?  · “Interesting Readings” - What reading or readings did you find the most interesting and why? “Interesting Readings” · “Perspective” - How has this course changed your perspective?  · “Course Feedback” - What topics or activities would you add to the course, or should we focus on some areas more than others?  Make sure to cover 300 words. Hello, Great job! I have been on different committees on my job, we all know the goal that we are trying to achieve, however, some team members let their individual goals get in the way of the goal of the organization. This caused the team to get off track. As you stated, “distractions good/bad arise and depending on the distraction, a person can get totally side tracked and forget the goal.”             I agree with you that when people work t.

1. 5 days ago
Elizabeth Montgomery
Retirement Savings
Collapse
Top of Form
Elizabeth Montgomery
Friday April 17, 2020
Math 115
Andrea Smith
I knew I wouldn’t reallly be working until I am out of
school. By delaying my income by just one year I will need to
save an extra $500 a month approximately 22% more. I also
changed the monthly income based on different salaries and
different jobs. That number really changes the amount of time I
need to work in order to meet my retirement goals. I have
determined the less debt I incur now while going to school will
significantly impact my future savings. I guess I will be driving
my 18 year old car for ten more years.
What I learned by doing these calculation is that you need to
learn how to save money. Ways that you can save money is by
not spending your money on junk. Another example would be
not to go shopping. Use your money on things you actually
need for example paying for your house, buying food, paying
the electricity bill, and paying for your car. Maybe another way
to save money is put your money in the bank so you are not
tempted to use your money. Major in something in college that
you can actually get a job right away. Also just save your
money. Don’t go out to eat because that can be a waste of
money and expensive. Instead cook a meal at home so you are
saving money. Maybe go to community college and save money
so you will have enough money for graduate school if you want
to go. Or go to college instate so it will not be expensive. Just
be careful on what you spend your money on and you will have

2. a succefull life.
Word Count: 307
Bottom of Form
DISCUSSION:
In the last week of class, we are going to complete a reflection
activity.
This discussion topic is to be reflective and will be using your
own words and not a compilation of direct citations from other
papers or sources. You can use citations in your posts, but this
discussion exercise should be about what you have learned
through your viewpoint and not a re-hash of any particular
article, topic, or the book.
Items to include in the initial thread:
· “Interesting Assignments” - What were some of the more
interesting assignments to you?
· “Interesting Readings” - What reading or readings did you
find the most interesting and why? “Interesting Readings”
· “Perspective” - How has this course changed your
perspective?
· “Course Feedback” - What topics or activities would you add
to the course, or should we focus on some areas more than
others?
Make sure to cover 300 words.
Hello,
Great job!
I have been on different committees on my job, we all know the
goal that we are trying to achieve, however, some team
members let their individual goals get in the way of the goal of
the organization. This caused the team to get off track. As you
stated, “distractions good/bad arise and depending on the
distraction, a person can get totally side tracked and forget the

3. goal.”
I agree with you that when people work together for the
benefit of all, there tends to be more focus on accomplishing
tasks. When you are on a team, for example, a football team,
everyone need to stay focused on the goal, which is to win the
championship. Locke and Latham (1984) identified goal-setting
to increase both the skills and the confidence of players in
competitive sports. Burton and Raedeke (2008) argued that
goal-setting not only amplifies talent, processes, productivity,
but also affects performance through focus and concentration.
When the players focus on their personal goals, this can
be a distraction from the team reaching the main goal. This can
cause goal displacement because they are focused on personal
goals and not the goal of the team. Like you stated, people that
have their own ends as the ultimate goal will not cooperate with
others to help them all meet the group goal.
Nicole (1989) argued that athletes have at least two
different ways of building their capabilities: to be task-involved
or to be ego-involved. When task-involved, a player’s main
purpose revolves around task mastery, gaining skill or
knowledge, exerting maximal effort and performing ones best.
When ego-involved, players are concerned with the adequacy of
one’s ability and the demonstration of superior competence.
Ego-involved players perceive a successful event when they
think that they performed better than the others or equally with
less effort (Balaguer et al., 2002).
References
Team goal-setting involves more than only goal-setting
Arraya, Marco António; Pellissier, René; Preto, Isabel
Hello,
Very good job, I got a lot of information about scenarios form

4. thisYou do need some key individuals, preferable some that
have multiple experiences in the different scenarios to help with
the scenario planning. Together they can determine what issues
that could occur, using what is known now. They do need to be
focused and get a visual of the future, the environment is
moving at a fast pace, scenario planning will help organization
get a better understanding of how to handle issues that may
arise.
Corporate foresight is a source of future competitive
advantage. According to Rohrbeck et al. (2015, p. 2), it “creates
value through providing access to critical resources ahead of
competition, preparing the organization for change, and
permitting the organization to steer proactively towards a
desired future”.
As organizations seek to remain agile in an uncertain
environment, corporate foresight tools, such as scenario-
planning, may prove useful in strategic decision-making.
Corporate foresight requires organizations to incorporate three
practices in decision-making by perceiving the drivers of
change to lessen uncertainty, prospecting what the effects of
these signals of change will be on the organization and probing
what action the organization should take (Højland and
Rohrbeck, 2018).
As you state, the more information you have when you get
ready to build your scenarios, the more of an accurate outcome
you are going to receive. In order for the scenario planning to
work, the information that is being used need to be accurate.
“Effective information usage and processing in scenarios
require proper understanding of socio-political and economic
systemic forces, industry trends and competitor behavior”
(Wilson and Ralston, 2006).
Also, the process needs to be appropriate. In multi-step
scenario processes, each step has specific skills requirements
attached to it (Chermack, 2011). Ineffectiveness in any of the
steps, be it the inputs provided, exercises used to develop
scenarios or implementation of actions will result in poorer

5. scenario-planning. The time and energy requirements of
generating scenarios, as well as stakeholder behavior and
scenario-planning team interactions, may also impact
effectiveness (Chermack and Nimon, 2013; Cairns et al., 2016).
Very Good job!
References
Danielle Meyerowitz, Charlene Lew, Göran Svensson, (2018)
Scenario-planning in strategic strategic decision-making:
requirements benefits and inhibitors", foresight, Vol. 20 Issue:
6, pp.602-621, https://doi.org/10.1108/FS-04-2018-003
MATH 115
How to Fill Out the Retirement Savings Calculator
1. Open the “Calc with sample values” tab in the Retirement
Savings Calculator worksheet.
2. If you have more than 1 outstanding debt, go to the “avg
interest rate on debt” tab and fill out the amounts and interest
rates of each debt. Your total debt amount and average interest
rate on your debt will be automatically calculated at the bottom
of the debt list.
3. Go to the “Calculations” tab. Enter the total amount of your
outstanding debt in cell D2 (that is the cell column D, row 2 of
the worksheet).
4. Enter the average annual interest rate on your outstanding
debt in cell D3. Enter the amount of total monthly payments in
cell D5.
5. In cell D8, enter the number of years of delay from today
until you start saving. Depending on your situation, this number
could be the number of years until your debt is paid from cell

6. D6 or it could be the number of years until you graduate or
some other number that makes sense in your situation. It could
also be 0.
6. Enter the number of years until you retire in cell D11.
7. Enter the monthly income you want at retirement in today’s
dollars in cell D12.
8. Enter the assumed average interest rate on your investments
after your retirement in cell D16. This number should be
relatively low because most people opt for very safe
investments at this point in their lives. These safe investments
tend to have lower interest rates than investments that carry
more risk. The “Calc with sample values” has a value of 4%. No
need to enter the % symbol when you enter this.
9. Enter your estimate of how many years you (and your spouse
if you are married) will live after you quit working in cell D19.
10. Enter your estimate of the interest rate on your investments
before your retirement in cell D25. Opinions vary widely on the
correct rate to use for this. The long-term average interest on
stocks in the United States is about 12% per year. Many
analysts use this in their future projections. However, many
other analysts consider this to be too high due to the long-term
effects of the high debt level of the United States government.
The “Calc with sample values” has a value of 9%. This
percentage is just a number that is somewhere in the middle. It
is not intended in any way as an actual prediction of future
interest rates. The author of this worksheet has no knowledge of
what future interest rates will be and does not intend that
anyone use this number as a meaningful prediction.
11. If you have any money invested in savings today, please
enter the total amount in cell D27. Do not enter the dollar sign
or any commas. Just enter the numerical amount. The “Calc
with sample values” has $50,000 just to show the effects of
having some money already invested.
MPORTANT: You must have the 2 documents from the
Assignment Instructions Folder ("Retirement Savings

7. Calculator" and "How to fill out the Retirement Savings
Worksheet") to complete this Discussion Board Forum.
Topic: Savings vs. Debt – Good and Bad News about How
Interest Impacts Your Life
The Bible teaches that we are responsible to manage our
finances faithfully in a way that honors God. The phrase that is
generally used is that we are to be good stewards of the wealth
that God has given into our care. The word "steward" clearly
implies that it is God’s money that we are managing and not our
own.
In addition, 2 Corinthians 12:14 reminds us that parents are
responsible to save for their children. Also, 1 Timothy 5:8 very
strongly states that we are responsible to care for any close
relatives who need care. In context, this includes aged parents
and grandparents at a minimum.
Managing your savings and/or retirement funds to meet your
goals can seem like it requires an ability to predict the future.
How much money needs to be saved each month depends not
only on your goals and your personal situation but also on the
amount of money available, time, and interest rates. Some of
these things are not knowable because they are in the future and
could change dramatically.
Does this mean that we should just give up and make no effort
to provide for the future? Absolutely not. It means that we do
our best to make reasonable assumptions, discipline ourselves to
control our spending, and make wise plans for our investments.
It also means that we need to seek God for wisdom as we trust
Him to provide for what we cannot.
In this forum, you will be using the spreadsheet provided in the
Assignment Instructions folder to start a basic financial plan

8. that that takes issues of debt, interest rates, and investment into
account. Open the spreadsheet and enter the appropriate
information into the cells shaded in purple.
Look at the bottom of the page in the spreadsheet. You will see
3 tabs. The first tab is for the worksheet you need to fill out.
The 2nd tab shows the worksheet filled out with sample values.
How these values were determined is described in the attached
Word document as an example to help you fill out your
worksheet. The 3rd tab is for a worksheet to help you calculate
your average interest rate on your current debt if you have any.
Once you get the worksheet filled out, play around with the
numbers a little to see how changes affect how much you will
need to save each month to meet your goals. See what happens
if you delay your plan to start saving by a few years. See what
happens with a few different values for interest rates.
Once you have completed filling out the attached spreadsheet,
provide a reaction to your discoveries in a thread. In your
thread, you must give 3 different numbers you used either for “#
of years until retirement” or for “years of delay until you start
saving.” If you choose to use different numbers for “#number of
years until retirement,” be sure to adjust your “# of years you
will live off of your money” to match.
For example, using the numbers in the sample spreadsheet, I
used 25, 30, and 35 for “#number of years until retirement.” For
25, I set the “number of years you will live off of your money”
to 30. For 30, I set the “live off of your money” number to 25,
and, for 35, I set the “live of your money” number to 20. The 3
different amounts needed to be saved each month were $2,239,
$1,346, and $748.
Note that 1346/2239 = .60 and 748/2239 = .33. So, in my post I
would say that I used 25, 30, and 35 years for the “#number of

9. years until retirement.” When I changed from 25 to 30 years, it
reduced the amount I needed to save per month to 61% of the
original amount. When I changed “#number of years until
retirement” to 35 years, it reduced the amount I needed to save
per month to 33% of the original amount. By sharing these
percentages and not the actual dollar amounts, you show your
instructor that you did this comparison part of the assignment
(and you preserve the privacy of your financial information).
For the rest of your thread, you may tell the class what
surprised you, what you learned from the exercise, or any
actions you need to take to adjust your savings and/or debt
reduction strategy. You are not required to share any personal
financial information with either your instructor or with any
other classmate. Do NOT post your worksheet into the
Discussion Board Forum. Also, if you know of a link to another
resource that has helped you in your attempt to honor God by
managing your finances wisely, you are welcome to share that
link with the class.
For your replies, consider talking about something you found
surprising or helpful in the other classmate’s thread or
something you found helpful to yourself from this exercise.
Calculationsamount you owe$ 5,000.00average annual interest
rate on your debt12%amount of total monthly debt payments
you are making$ 250.00time to payoff your
debt1.86yearsYears of delay until you start saving0long term
average inflation rate in the US3.23%# of years until
retirement0amount of money per month you want in today's
dollars$ - 0amount of money per month at the time of your
retirement$ - 0assumed average interest rate on your
investments after retirement0.0%assumed average inflation rate
after retirement2.2%net assumed average interest rate after

10. retirement-2.1%number of years you will live off of your
money0amount of money you will need when you
retire$0.00assumed average interest rate on investments before
retirement0.00%amount of money you have invested today$ -
0value of current investments at retirement using assumed
interest rate on your investments$ - 0amount of money you
need to save each month starting
now$0.00ERROR:#NUM!amount of money you need to save
each month starting the month after your selected
delay$0.00ERROR:#NUM!NOTE: These calculations assume
an annual inflation rate after retirement of 2/3 of the annual
inflation rate before retirement. This assumption is
probably reasonable for those who own their own house at that
time. If you wish to adjust this assumption, then
UNHIDE row 17 and change the inflation rate in Column D to
match the assumption that you wish to make.
Calc with sample valuesamount you owe$ 16,000.00average
annual interest rate on your debt14.99%amount of total monthly
debt payments you are making$ 550.00time to payoff your
debt2.09yearsYears of delay until you start saving2.09long term
average inflation rate in the US3.23%# of years until
retirement25amount of money per month you want in today's
dollars$ 4,000.00amount of money per month at the time of
your retirement$ 8,900.00assumed average interest rate on
your investments after retirement4.0%assumed average inflation
rate after retirement2.2%net assumed average interest rate after
retirement1.8%number of years you will live off of your money
during retirement30amount of money you will need when you
retire$2,471,677assumed average interest rate on investments
before retirement8.00%amount of money you have invested
today$ 50,000.00value of current investments at retirement
using assumed interest rate on your investments$
342,424amount of money you need to save each month starting
now$2,239$2,238.90amount of money you need to save each
month starting the month after your selected
delay$2,723$2,722.77NOTE: These calculations assume an

11. annual inflation rate after retirement of 2/3 of the annual
inflation rate before retirement. This assumption is
probably reasonable for those who own their own house at that
time. If you wish to adjust this assumption, then
UNHIDE row 17 and change the inflation rate in Column D to
match the assumption that you wish to make.
avg interest rate on debtInterestAmountRateDebt 1Debt 2Debt
3Debt 4Debt 5Debt 6Debt 7Debt 8Debt 9Total$ -
0ERROR:#DIV/0!