Consider any tax effects create chart summarizing

Assignment Help Financial Management

Reference no: EM131013208

First, consider Michele's savings. She began working at age 20 and began making an annual contribution of $2,000 at the first of the year beginning with her first year. She makes 13 contributions. She worked until she was 32 and then left full time work to have children and be a stay at home mom. She left her IRA invested and plans to begin drawing from her IRA when she is 65. Derek started his IRA at age 32. The first 12 years of his working career, he used his discretionary income to buy a home, upgrade the family cars, take vacations, and pursue his golfing hobby. At age 32, he made his first $2,000 contribution to an IRA, and contributed $2,000 every year up until age 65, a total of 33 years / contributions. He plans to retire at age 65 and make withdrawals from his IRA. Both IRA accounts grow at a 7% annual rate. Do not consider any tax effects create a chart summarizing the details of the investment for both Bob and Lisa. Also who made the most money in terms of future time value?

Reference no: EM131013208

Questions Cloud

Describe the importance of the new-hire : Describe the importance of the new-hire or on-boarding experience (academic data required) and how your organization strives to maximize that newcomer spirit. How were you treated on your first day?

Emerging hr issues that affect the potential of company : Choose three to four cultural HR issues and three to four emerging HR issues that affect the potential of a company you are familiar with or an imaginary company of your choice to be at risk of either: Unionization or Catastrophic Danger and Damage

Marketing communications activities of an organisation : Explain how and organisations international marketing strategy might influence its use of marketing communications

What role does this play in international competitiveness : Can political risk be "managed"? If so, what methods can be used to manage such risk, and how effective are they? Discuss the lengths to which you would go to manage political risk relative to the kinds of returns you would expect to gain.

Consider any tax effects create chart summarizing : consider Michele's savings. She began working at age 20 and began making an annual contribution of $2,000 at the first of the year beginning with her first year. She makes 13 contributions. She worked until she was 32 and then left full time work to ..

What are the main goals and objectives of the agency : What are the main goals and objectives of the agency? What is its main target audience or audiences? What information would be needed to determine if it is meeting its goals and objectives

Describe the recent effects of financial globalization : What means can managers use to assess political risk? What do you think is the relative effectiveness of these different methods? At the time you are reading this, what countries or areas do you feel have political risk sufficient to discourage yo..

Which method has been used to enter foreign markets : Describe which method(s) has been used to enter foreign markets. How has the company gained competitive advantage through competing internationally

What are the main sources of stress : The final for the Personal and Public Health Classes will be in two parts. The first part will be a typed essay on "stress." What are the main sources of stress? How can stress be managed

User Account

All Pages