During week 13 our class covered Chapter 16 Real Estate Investment, Chapter 17 Retirement Planning, and Chapter 18 Estate Planning. Chapter 16 covers real estate investment not for residential use. Location is the number one factor in whether a property is valuable. From an investment standpoint your house is not an asset. The most important disadvantages of real estate investing are legal fees and illiquidity. Chapter 17 consisted of retirement planning, and most financial planners deal with retirement planning. It is a very applicable topic. The chapter discussed the aspect of social security benefits. Social security is not enough to live on after retirement. Retirement plans in Chapter 17 include defined benefits plans and defined contribution plans. The popular 401K is an example of a defined contribution plan. This chapter also covered the traditional IRA and the Roth IRA. It covered the differences and the tax implications of the different IRAs. The final chapter in our textbook is Chapter 18, Estate Planning. This chapter covered many aspects of estate planning such as probate, wills, executors, trusts, estate taxes, and gift taxes. Everyone should have a will no matter their financial situation. The chapter also covered power of attorney and living wills. All students in our class were assigned group project topics. My group was assigned estate planning so I learned a great deal about estate planning over the course of this semester.
My week 13 article is "Should You Separate or Joint Accounts?" from www.kiplinger.com. I chose this article because I find this topic interesting. My husband and I have all joint accounts, but I have other family members who do not share some bank accounts with their spouses. The main idea of the article is that each couple will need to decide what works best for them. Some couple share all accounts, some share none, and some couples share certain accounts. Couples should always keep the money management lines of communication open.
My week 13 article is "Should You Separate or Joint Accounts?" from www.kiplinger.com. I chose this article because I find this topic interesting. My husband and I have all joint accounts, but I have other family members who do not share some bank accounts with their spouses. The main idea of the article is that each couple will need to decide what works best for them. Some couple share all accounts, some share none, and some couples share certain accounts. Couples should always keep the money management lines of communication open.
| should_you_use_separate_or_joint_accounts.pdf |
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