Activity 7.5.docx - 1 What are the steps that Shelby and...

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1. What are the steps that Shelby and Mark should take to prepare for an Investment Program? Shelby and Mark need to sit down to develop their investment program. One of the first items should be to set investment goals. They currently have vague goals of saving for retirement and saving for their daughter’s college fund. They need to set realistic, specific measurable goals for their investment hopes. In addition, they should strategy a plan of how they wish to invest their monies. To start an investment program they should have their finances in good order. Such items as reducing or eliminating credit card debt and balancing their budget would help set them up for success in insuring they stick to their investment program. In addition, especially with Shelby’s income fluctuating with the economy, they should have an emergency fund set up in case of some type of financial crisis. By having their finances in order they can analyze their budget to determine where they can find money for their investment program.
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