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My Current Financial Concern
My current financial concerns are being able to afford a college education, a new phone, and video games. My concerns will change when I am in college, I get a new phone, and I get all of the video games that I want. To relieve my stress about these concerns, I will have to get a job. -
3 things I'm excited for in my financial future
Getting a Bachelor’s Degree, driving my first car, and getting married -
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How I will use a Savings Account
I will use a savings account to save up part of my earnings that I earned from my job/career and to store my retirement money that I earned from a Certificate of Deposit retirement account. I will acquire a Savings Account at Synchrony Bank because of it's high interest rates. The way how I will know if this the right depository institution to make a savings account is by researching the interest rates and the liquidity of savings accounts at Synchrony Bank. -
My Financial Concerns at age 25
My financial concerns at age 25 are buying a house/paying rent to living in an apartment, buying a car, car insurance, and affording a wedding to get married. These concerns will change once I have a house/rent and apartment, have a car and get married. Also, I will relieve my stress about these concerns by making 3 Synchrony Bank savings accounts for a wedding, a car, and a house to live in/ an apartment to pay rent in. -
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How I will use a Money Market Deposit Account
I will use it to save money for a vacation to Japan and to buy a house. I will use a Money Market Deposit Account at Synchrony bank. Also, I will research the liquidity and interest rate of Synchrony Bank's Money Market Deposit Account. -
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How I will use a Certificate of Deposit Account
I will use this account to save money for retirement and my daughter's/son's education. I will use a Certificate of Deposit at Capital One Bank because it has a high interest rate and no minimum deposit. I will research the interest rate and how long will the account last before the maturity date to see if this account is the right account for me. I will stop using a Certificate of deposit when I retire and my kids are old enough to go to pre-school. -
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How I will use a Mutual Fund
I will use a Mutual fund if I just want to invest with low risk and when I'm not sure if a company is not going to be successful. I will acquire a Mutual Fund by investing in a company that has a lot of investors so that investing with a Mutual Fund is less risky.I will also research a company that has the potential to make a lot of money in the future despite the risk because investing with a Mutual Fund is the least risky investment. -
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How I will use Real Estate
I will use Real Estate when I earn enough money to buy an apartment building. To get a real estate, I will buy an apartment that is brand new because there is a chance that no one has bought it yet if it is new.I will also research different apartment buildings that are within my area and see which one is the newest apartment that isn't owned yet. -
My Financial Concern at age 50
Being able to afford education for my kids. This concern will change once my future kids have graduated college. I will relieve my stress about this concern by making a Synchrony Bank Certificate of Deposit account for my son's/daughter's education until they are old enough to go to preschool. -
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How I will use a Bonds
I will use a bond in case I want to earn money from the government and I am able to tolerate any risk. I will buy my bonds from the Federal Government. I will also research bonds to see what bonds are the best -
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How I will use Stocks
I will use stocks earn money from a company that think is going to be very successful and when I can tolerate risk . I will go through an online brokerage firm to buy a stock. I will also research different companies and juxtapose them to see which one will be the most successful so that I can earn as much money as possible. -
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How I will use Speculative Investments
I will use Speculative investments only when I want to earn a lot of money, when I can tolerate risk and when i have nothing to lose. I will also make sure that I invest in a company/government that has guaranteed success. I will also research different companies and determine which one will be the most successful. -
My Financial Concern at age 75
Having money for retirement. This concern will change once I have retired. I will relieve my stress about this concern by making a Synchrony Bank Certificate of Deposit account for retirement.