Q (How Far Will A Million Dollars Go In Retirement?) – In previous assignments, each student has projected and created a financial plan. Once again, let’s assume your retirement age is 65 years old. Either using the number you determine in the Week 2 Assignment or using an even $1,000,000 as your portfolio balance, complete your retirement plan. In this assignment, project your expenses at age 65. Include housing, living expenses (food, clothing, etc.), medical, safety, entertainment and travel, gifts, and family. According to the United States Census Bureau, the life expectancy for Americans is 78.7 years. For the sake of this assignment, let’s assume a clean 80 years old. That means, your retirement plan must account for 15 years of life post-retirement. With $1,000,000 in savings, you will have $66,667 to spend in each of the 15 years. Assuming a 20% tax rate, that will give you about $53,000 per year to spend. Will it be enough? Assuming you are 20 years old currently, what will be the future value of $53,000 be 45 years from now? How will inflation impact the costs of your expenses from this point (2019), until your 65th birthday? How do you foresee your retirement to be? Will you be comfortable? Will you struggle? Is your home paid off, the children educated, and weddings are behind you? What actions can you take now, in order to improve the quality of your life in retirement? Please be explicit in describing your retirement plan. Using the aforementioned “Guidelines for Writing Papers”, write a 3-5 academic paper that answers the challenge of this Week 8 assignment, including presenting your retirement plan. Rubric Written Assignment Written Assignment Criteria Ratings Pts This criterion is linked to a Learning OutcomeIntroduction/ Background Info 20 pts Excellent Exceptional intro with thorough background information that is well developed and Definitive assessment information with examples 17.5 pts Good Proficient intro that states topic, Clearly describes background information with Sufficient assessment information 15 pts Fair Adequate intro that states topic and basic background information and limited assessment information 10 pts Poor Weak introduction of topic, Little background information and Lacking assessment information 20 pts This criterion is linked to a Learning OutcomeQuality of Information/ Evidence 20 pts Excellent Paper is exceptionally researched, has strong and accurate details and noteworthy critical evidence and examples from 3 or more sources 17.5 pts Good Paper is well researched in detail with accurate and critical evidence from the required 3 sources 15 pts Fair Some aspects of paper are research with some accurate evidence from 2 sources 10 pts Poor Limited information on topic with lack of research, details or accurate evidence 20 pts This criterion is linked to a Learning OutcomeOrganization/ Development of Ideas 20 pts Excellent Exceptionally clear and logical organization; thorough development of ideas; strong support of topic with solid transitions between ideas 17.5 pts Good Clear and logical order of ideas that supports topic with good transitions between paragraphs 15 pts Fair Somewhat clear and logical development of ideas with adequate transitions between ideas and paragraphs 10 pts Poor Lacks clear and logical development of ideas; weak transitions 20 pts This criterion is linked to a Learning OutcomeConclusion 20 pts Excellent Excellent summary of topic (with no new topics introduced); with strong follow up; conclusion based on evidence; final statement that leaves an impact on readers 17.5 pts Good Good summary of topic, and all subtopics with clear concluding ideas 15 pts Fair Adequate summary of topic, some subtopics with some final concluding ideas 10 pts Poor Lack of summary of topic, topic and subtopics with weak concluding ideas 20 pts This criterion is linked to a Learning OutcomeDescription of criterion Paper Appearance, Formatting, Length, and Language use 20 pts Excellent Meets minimum length, including a title page, proper spacing, required font size with Very clear evidence of solid knowledge of grammar, spelling, usage, and paragraphing with limited errors 17.5 pts Good Lacks one of the following; meeting minimum length, including a title page, proper spacing, required font size, with Basically clear with few errors in grammar, spelling, usage and paragraphing 15 pts Fair Lacks two of the following; meeting minimum length, including a title page, proper spacing, required font size, with Some errors in grammar, spelling, usage and paragraphing 10 pts Poor Lacks three or more of the following; meeting minimum length, including a title page, proper spacing, required font size, with Inconsistent grammar, spelling, usage, and paragraphing through the paper 20 pts Total Points: 100 PreviousNext