Chapter18 - e. 75% of women dont not know how much to save...

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Matt Serna Mr. McKenzie Personal Finance December 13, 2010 Chapter 18 1. Name 10 critical strategies for person finance success. a. Evaluate your financial health b. Plan and budget c. Control your debt d. Make knowledgeable consumer decisions e. Have adequate health, life, property, and liability insurance f. Understand investing principles g. Make investment decisions that reflect your goals h. Plan for retirement i. Plan for what happens to your accumulated wealth and your dependents after you die. 2. List at least 5 reasons why women have a tougher time achieve financial success rather than men. a. Women live, on average 7 years longer than men b. 20% of women are never married c. 47% of first marriages and 49% of second marriages end in divorce d. At age 65, women outnumber men 3 to 2, and at 85 they outnumber them 5 to 2
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Unformatted text preview: e. 75% of women dont not know how much to save for retirement 3. Name 5 financial planning steps when expecting a child. a. Survey your finances b. Plan for college c. Reconsider your insurance needs d. Update your will and trusts e. Take advantage of tax savings 4. How can the practice of frugality set the stage for financial success? a. Frugality can easily create healthy financial habits and learn good spending habits because if your grow up and money is tight your going to have good habits 5. Why does financial planning require a call to action? a. Financial planning requires a call to action because we all say I should make a budget and control my finances but we may not get to that for a while, so this really calls for action, Just Do It....
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This note was uploaded on 04/27/2011 for the course FIN 101 taught by Professor Daly during the Spring '11 term at Salt Lake Community College.

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