Answered You can hire a professional tutor to get the answer.
Assignment 1 Assignment 1 is due after Lesson 5 and is worth 10% of your final mark. The plan should be approximately 8 to 10 pages in length,...
effects of inflation.
Part B is 25% of Assignment 1. Your mark for Part B will be based on how well you explain the strategies you choose and justify why they are important.
Assignment 1 Tips
Part A In Step 2, Goals in Detail, and Step 3, Calculate Savings Required, be sure you support the calculations for all goals within the financial plan. Proper time value of money (TVM) math or financial calculator keying sequences must be shown. See Chapter 3 of the textbook and the corresponding lesson notes to ensure you have done the TVM calculations properly throughout the plan. It is essential that you understand and be able to perform proper TVM calculations; these skills are necessary for completing Assignment 1 and for preparing for examinations. For the retirement plan (Step 2, Goals in Detail) you will find it helpful to follow the process outlined in Figure 16.3 (p. 470 of the textbook). As you use this process for Assignment 1, ignore the CPP and OAS information.
In Step 3 – Calculate Savings Required, you are asked to identify the average savings rates for a Canadian earning $50,000, $100,000, etc. per year. These statistics are no longer readily available. In lieu of determining the savings rates at various income levels, you should determine the total annual savings amount needed (as calculated using time value of money math) to achieve all your personal goals within the assignment. Then, compare your personal required savings rate (annual savings amount needed divided by after-tax income available for living expenses) with the average Canadian's savings rate in general. Discuss whether the personal required savings rate is reasonable when compared to the average Canadian's savings rate. If it is not, a reasonable explanation should be provided as to how goals will be achieved; otherwise, the goals may need to be modified. You may find the following link to Statistics Canada helpful:http://www40.statcan.ca/l01/cst01/indi02a.htm Part B
Be sure you devote sufficient time and energy to your tax-planning strategies. Remember, Part B is worth 25% of Assignment 1. At a minimum, this part of your assignment should include clear, well-written paragraphs (one paragraph per strategy) outlining why the strategy would be advantageous (and limitations of the strategy, if applicable) as well as comments on how the strategy applies specifically to your plan.
