Financial Roadmap

Financial Roadmap - BT 181 Financial Roadmap In my future...

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BT 181 Financial Roadmap In my future as a working member of society, I am anticipating a Bachelor of Science degree in Mathematical Sciences and a Master of Science degree in Financial Engineering. Hopefully, with these two degrees I will be able to obtain a solid job in Investment Banking or working on the analyst side of Wall Street. After working for a few years, I will use three years for my roadmap, I think it would be most beneficial for my professional career to return to school. Upon returning, I think that I would try to pursue either a MBA from a top tier business school or a PhD program. Either way, however, I feel that another degree will help propel my career to the places that I hope to reach. Before I begin, I am making general assumptions throughout the paper. For the rate of inflation, I will is 3%, which is about average per year. Additionally, I am assuming that my income and that of my girlfriend/fiancé will increase every year at a rate of 15% (number used in class), which includes the rate of inflation. As far a family life goes, I hope to marry by the age of 25, but I would be living with my fiancé for about a year before the marriage. If all goes to plan, I will attend graduate school again, either for a PhD or an MBA. For my plan, I will assume that my fiancé and I will be renting together until age 25 and then purchasing real estate around the wedding. In my assumption of marriage at 25, I am also making a variety of other assumptions as well. I am assuming that we will be splitting the price of rent from age 24 to 25, but we will join bank accounts, except for minor accounts, at marriage. Additionally, I am assuming that she will own her own car coming into the relationship. Furthermore, I am assuming that she is wise with her credit cards and does not have any significant amounts of debt to worry about. Moreover, I am assuming that we will both work, except for the one the last three years while I attend school, around age 27. Additionally, I think I will be able to assume a starting salary for her to be approximately $40,000 (according to various websites). In the future, she would also try to attend graduate school. 1. Net Worth Statement(s)
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a. Initial starting point on 6/1/2008 that itemizes your assets (investments, checking accounts and any real property that you own); as well as any Liabilities (e.g. debt from student loans, car or credit card payments); plus other sources of income (e.g. Trusts, Social Security or Insurance payments) b. A final ending point on 6/31/2017 that includes all the Assets, Liabilities and Other sources of Net Worth, including the items disclosed in a, above, plus any other changes in assets or debts that you accumulated over the last 9 years. The starting point of my financial roadmap will be 6/1/2011, which will be June following my
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This note was uploaded on 04/08/2008 for the course MGT 418 taught by Professor Klein during the Fall '07 term at Stevens.

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Financial Roadmap - BT 181 Financial Roadmap In my future...

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