You will create an imaginary person (or future yourself), and you will work as a personal financial counselor for the person.
You will create an imaginary person (or future yourself), and you will work as a personal financial counselor for the person. The final paper will be a professional-quality brochure to your client. You must use tables and figures effectively to show supporting evidence (data) of your recommendations.
Write a full report for the person for the various financial needs. You must list at least 3 problems to solve. Examples are personal/corporate tax problems, real estate, small business financing, auto insurance, home owners/renters insurance, life insurance, retirement planning, health insurance, and annuity, etc. State each problem in detail relating it with the person’s situation.
For each financial problem, your report must include (1) a table that describes the details of possible solutions, (2) a table to compare several solutions for each financial problem, and (3) supporting arguments with tables or graphs for the best solution you chose. It must be personalized advise rather than a general guide. The report should be based on associated data and actual quotes from real companies wherever possible using the exact characteristics of the client. It must clearly show the estimated monetary benefit of the recommended solution over the other options. This may require you to do some research into likely career and life paths of the fictional character and related financial earnings and risk. The evaluation will assess completeness of data, reasonableness of recommendations, effectiveness of presentation, and professionalism of the final document. You may not use financial planning software packages or commercially-marketed planning software for your report. It needs to be your own unique document. Submitting a report using a commercial product will render the project invalid.
A guide:
The goal of the project is the preparation of an Insurance Needs Assessment and Plan for yourself. The plan will comprise of a report on perceived future needs for managing risks such as automobile, homeowners, and life insurance, or retirement planning. You may also review options for health-risk management.
Project Phase 1: Develop a profile of risk management needs. This will require that you make predictions regarding how your future career and lifestyle might develop and prepare a related risk management needs assessment. The needs assessment should be shown on your proposal.
Project Phase 2: Develop a plan for yourself recommending the kinds and amounts of insurance coverage or risk management methods and justify your recommendations.
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Your financial goals
You want to buy a retirement home (A good retirement home in the North Carolina at current dollar value costs $250,000 on average).
Your wish is to retire at 64 years of age, but you are willing to work for another two years.
You want to achieve a 5% financial growth till you retire.
You want to save $250………………..
APA
2878 words
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