Financial Analysis On Financial Wellbeing Essay

1087 Words Jan 26th, 2016 null Page
There is no doubt that financial wellbeing is a key component of human happiness. Financial planning could help us to enhance our financial well-being through the set-up of financial goals and associated strategies to achieve these goals. When I propose my financial goals in the future fifteen years, I have to make trade-offs among so many life events. This financial narrative includes ten main aspects of my financial positions in the future fifteen years.
Family Status and Job/Salary/ Benefits
On 22 October 2031, I would have been in the marriage for ten years and have a five-year-old child. Fifteen years later, I would be in the middle management position of a regional investment firm, with a basic salary of $ 70,000. Compared to the salary, I more emphasize and value on the benefits package that is provided by my employer. The benefits package should cover the medical costs of serious diseases. Moreover, my employer would provide two-week vacation each year and allow the sick as well as parental leave. These would can add a significant monetary value to my base salary. In the respect of my spouse, his annual salary would be approximate at $ 150,000 as a senior programmer.
Retirement Planning I plan to get retired at 60 years old with a life expectancy of 85 years old. On the basis of the rule of thumb, I will need around 70 percent of my pre-retirement annual income to maintain my lifestyle during the retirement. Given my expectation, I will need an annual retirement…

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