PHASE 1: Accumulation
This period begins when you enter the workforce and begin setting aside funds for later in your life, and ends when you actually retire. If your employer offers 401(k), 403(b), or 457(b) plans, have you signed up and are you contributing the maximum allowed? Did you know that the "new normal" requires retirement savings rates for most Americans to exceed 10 percent? If self-employed, are you shortchanging yourself on Social Security in order to reap tax deductions?
PHASE 2: Pre-Retirement
This phase occurs during the final years of the accumulation phase and should begin when you reach 50 years old or are 15 years away from retiring, whichever happens first. Now is the time to get your plan in place, making sure your finances are lined up correctly for retirement day so nothing will be left to chance. If you work for a company with a benefits specialist, arrange an appointment to become informed about the various ways you can convert your employer retirement savings into a stream of income or an IRA. Consider using a tool known as "scenario planning." Start learning about Social Security and your options for beginning to receive retirement benefits. Familiarize yourself with the basics of Medicare.
PHASE 3: Early-Retirement
This phase lasts from the day you retire until you are 70 years old. (For those who do not plan to retire until well into their 70s, some tasks in this phase may occur later.) A key purpose of this phase is to create a clear communication channel with your family so information can be shared, questions asked and answered, and decisions made in a calm, supportive way. It's also the time to assess how well your finances are working now that you are using your retirement savings. Fine-tune your income and expense projections, taking into consideration how you will meet minimum distribution requirements from your tax-deferred accounts.
PHASE 4: Mid-Retirement
This phase begins at age 70 and lasts as long as you are able-bodied and high-functioning. Despite your good health, begin looking at what steps you would like your family to take should your condition decline significantly. In most cases your ability to make all your own decisions, care for yourself, engage with the world on your terms, and manage your affairs does not vanish in a split second. It takes courage to dive into a conversation about giving up and transferring control.
PHASE 5: Late-Retirement
This phase begins when your health has taken a turn for the worse and there is little likelihood of it being fully restored. You require significant help to function day to day. The hope is that by this point all the planning done in prior years makes this transition as manageable and life-affirming as possible.
The answer is $48.
The seller of product a has no idle capacity and can sell all it can produce at $60 per unit. outlay (variable) cost is $12. $48 is the opportunity cost, assuming the seller sells internally
It is calculated as follows:
Opportunity cost= Production cost- Outlay cost
= 60-12
=$48
Opportunity costs represent the potential benefits which any individual or investor, or any business misses out on when choosing one alternative over another.
Because the opportunity costs are generally unseen by definition, they can be easily overlooked. Understanding of the potential missed opportunities when any business or any individual chooses one investment over another investment allows for better decision making.
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He is exercising coercive power. Coercive power<span> is the ability to influence someone's decision making by taking something away as punishment or threatening punishment if the person does not follow instructions. It can be a severe way to get staff members to follow along with a company plan, but it can be necessary in some cases.</span>
Answer:
1. $636
2. $674.16
3. $566.04
4. $534
Explanation:
PV = FV ÷ (1 + r/n)^(t × n)........(1)
PV = present value
FV = Future value
r = rate per period
t = number of years
n = number of compounded period per year
FV = P(1 + r/n)^(t×n)...............(2)
FV = Future value
P = principal
r = rate per period
n = number compounded period per year
t = number of year
NO 1.
P= $600
t = 1
n = 1
r = 6% = 0.06
Using equation 2
FV = 600(1 + 0.06/1)^(1 × 1) = $636
NO 2
P = $600
n = 1
t = 2
r = 0.06
Using equation 2
FV = 600(1 + 0.06/1)^(2 × 1) = $674.16
NO 3.
FV = $600
r = 0.06
t = 1
n = 1
Using equation 1
PV = 600 ÷ (1 + 0.06/1)^(1 × 1) = $566.04
NO 4.
FV = $600
r = 0.06
n = 1
t = 2
Using equation 1
PV = 600 ÷ (1 + 0.06/1)^(2 × 1) = $534
Pls type in english... Question not understandable
