Week One Assignment Alice’s Finance Plan
Student ID: 106827
University of the People
Abstract
Use S.M.A.R.T. planning model and information in this section to evaluate Alice’s goals.
a. Pay off student loan
b. Buy a house and save for children 's education
c. Accumulate assets
d. Retire
e. Travel around the world in a sailboat
Week One Assignment Alice’s Finance Plan
Alice’s is at the early stage of life in her personal finances. How she decides to plan for the future financially right now will determine whether she hits her goals and wishes in her late stages of personal finance. We will evaluate her current situation, plan for the future, and come up with ways to better position her to achieve her goals and achieve them on time or …show more content…
A very well known model for setting goals, and reaching goals is the S.M.A.R.T. model. The model allows individuals to really think out all the details to a level that most people rarely ever do when setting goals. This is usually why goals are never accomplished, because we either can 't finish them, goals became too hard and they give up, or some uncontrollable things that were not thought of can put a stop to accomplishing a goal. To better explain what S.M.A.R.T. is we will define each letter with a word and explain how to apply that to a goal.
The letter S stands for specific. Each goal should be clear and precise, and all loose ends or escape paths should be taken care of. The goal should make sense to everyone involved and people observing it.
The letter M stands for measurable. Measurable means at anytime everyone involved and everyone looking in should be able to clearly see how progress is coming. If measured correctly you should never wonder if you are running behind or ahead of your end date that was set for your …show more content…
Retire
e. Travel around the world in a sailboat
Without a doubt she has all three stages of financial plans here. Early stages being, pay off loans, middle stage being the buy a house and save for children’s education, and start accumulating assets. The late and last stage of retirement, and indulging in activities, events like traveling and sailing around the world.
Alice’s career at the moment, especially being right out of college, makes her income at a good amount but not a great amount. This will cause her to be extremely tight on cash flow for the coming years until either her career advances or she pays off some debt. Lucky she is young, and no signs of over the top living expenses or issues. However, she will need a plan that is attainable, realistic in today 's world, and that she can measure over the next few years and also to
Student ID: 106827
University of the People
Abstract
Use S.M.A.R.T. planning model and information in this section to evaluate Alice’s goals.
a. Pay off student loan
b. Buy a house and save for children 's education
c. Accumulate assets
d. Retire
e. Travel around the world in a sailboat
Week One Assignment Alice’s Finance Plan
Alice’s is at the early stage of life in her personal finances. How she decides to plan for the future financially right now will determine whether she hits her goals and wishes in her late stages of personal finance. We will evaluate her current situation, plan for the future, and come up with ways to better position her to achieve her goals and achieve them on time or …show more content…
A very well known model for setting goals, and reaching goals is the S.M.A.R.T. model. The model allows individuals to really think out all the details to a level that most people rarely ever do when setting goals. This is usually why goals are never accomplished, because we either can 't finish them, goals became too hard and they give up, or some uncontrollable things that were not thought of can put a stop to accomplishing a goal. To better explain what S.M.A.R.T. is we will define each letter with a word and explain how to apply that to a goal.
The letter S stands for specific. Each goal should be clear and precise, and all loose ends or escape paths should be taken care of. The goal should make sense to everyone involved and people observing it.
The letter M stands for measurable. Measurable means at anytime everyone involved and everyone looking in should be able to clearly see how progress is coming. If measured correctly you should never wonder if you are running behind or ahead of your end date that was set for your …show more content…
Retire
e. Travel around the world in a sailboat
Without a doubt she has all three stages of financial plans here. Early stages being, pay off loans, middle stage being the buy a house and save for children’s education, and start accumulating assets. The late and last stage of retirement, and indulging in activities, events like traveling and sailing around the world.
Alice’s career at the moment, especially being right out of college, makes her income at a good amount but not a great amount. This will cause her to be extremely tight on cash flow for the coming years until either her career advances or she pays off some debt. Lucky she is young, and no signs of over the top living expenses or issues. However, she will need a plan that is attainable, realistic in today 's world, and that she can measure over the next few years and also to