When is the best time for her to start saving for rainy day

Assignment Help Management Theories

Reference no: EM133670767

Question: Stephanie is a 43-year-old single mom with two teenagers, Tolson (16) and Ashley (14). She is a successful business executive for Dunkin Donuts overseeing the Texas operations. she earns $115,000 in annual salary and receives between $25,000 - $150,000 in annual performance bonuses depending on store performance. Providing for her teenagers' education is currently her highest priority. So far, she has two small 529 college saving accounts established with $20,000 in each account, and nothing else set aside for this goal. She lives a healthy lifestyle running every morning, eating healthy home cooked meals, shopping only at Whole Foods or Central Market, and visiting her doctor for semiannual checkups. She believes that she does not need an emergency fund or to save for retirement right now because it is "so far away." She plans to put these goals off until after her teenagers finish their undergraduate degrees. When is the best time for her to start saving for rainy day? Why?

Reference no: EM133670767

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