Choose two of the study objectives from Chapters 1 and 2 with your lowest scores on the Build Your Proficiency diagnostic. Explain how these topics have an impact on planning for your future financial goals.
Use this Compound Interest Calculator from Bankrate to gain a broader perspective on your goals in 10, 20, and 30 years. What does the calculator show you about the time value of money and compound interest?
Provide an example of opportunity cost related to your financial goals.
In the Wk 1 Learning Path, watch “How to Set Financial Goals- Young Guys Finance” in WileyPLUS. Then share a financial goal in the SMART format.
In the Wk 1 Learning Path, enter some prices in the Personal Financial Planning Worksheet 1.2 Inflation Calculator in WileyPLUS to see how inflation affects cost of items and services. Watch “Time Value of Money: Cash vs. Annuity for Lottery Payout” in WileyPLUS, then answer this question: How do economic factors, including inflation, interest rates, and economic cycles impact your financial decisions and financial goals?