PFR-Online

REMINDER: Unit #4 Quiz will be on Wednesday. I will forward some documents on the day of the quiz to provide guidance.

UNIT #4 – SAVINGS AND INVESTING

JOURNAL ENTRY:  No Journal Entry Today
VOCABULARY:  No Vocabulary Today

ASSIGNMENT: K M – Diversification

KNOWLEDGE MATTERS HINTS:

Education and Advancement

GOAL: Get a job as an IT Supervisor.

SOLUTION:

The following is one of many possible solutions:

• Continue to buy food as you need it.
• Run to Sept. 30th. Pay the full amount of your student loan ($1,990.53) using your debit card.
• Enroll in the IT Management degree program on weekends from 8AM to 4PM. Take a student loan for the full amount of the course ($4,975).
• Continue to buy food as needed while running the sim forward until March 25, 2024.
• Apply for a job as IT Supervisor in the weekday 8AM to 4PM time slot. On your application, list your IT Management degree and 32 months experience as a Data Entry Specialist.

Intro to Investing

GOAL: Find the money market fund with the highest yield, lowest expense ratio and no loads and invest $1,000 in the fund.

SOLUTION:

Purchase $1,000 of the FMS Money Market Fund with a yield of 8.38% and no front or back-end load.

Investing for Retirement

GOAL: Contribute 15% of your salary to your 401K. Run the sim forward until you achieve a retirement portfolio value of at least $20,000.

SOLUTION:

After increasing your 401K payroll deduction to 15% as described in the lesson instructions, run the sim forward through early 2024 when you will achieve the goal.