Posted: June 18th, 2015

Assignment 3

HDFS 238 Personal Finance

Assignment #3- Personal Financial Plan

Investment Retirement Analysis

Assignment Due: June 29, 2015 at 11:59 AM

Maximum Points: 20 points

 

Part A: Choosing a Retirement Plan (10 points)

 

Congratulations! You have just graduated from college and are seeking your first full time position. Choosing your workplace investment choices to fund your retirement is essential to planning successfully for your future.

 

Research two potential full time employers and find out what options you will have to choose from based on their retirement plan. This can be an organization/company that you have been hired at after college, are currently interviewing at, or are just generally interested in working at after you complete your degree. If you do not have an idea of two potential employers, a list of four sample employers HR websites are included in D2L for you to use.

 

*Sometimes employers can be vague in what they provide to prospective employees. The information listed below contains the type of information you may find on a prospective employer website. However, sometime this information is not available or vague in its description. If this is the case, please state not available.

 

Complete the attached chart to analyze two future potential employers. (3 points)

 

	Employer #1 (1.5 points)	Employer #2 (1.5 points)
Name of Company and Company Website
Type of Retirement Plans
Employer Match? How much?
Vesting Requirements
Education/Support Services Available?
Who can participate?
Other Important Attributes

 

 

After completing the chart, provide your responses to the following questions. (Total: 7 points)

 

• Analyze the retirement options that you chose. This analysis should include (5 points):
  1. Describe each of the employer plans identified above. Explain one main advantage and disadvantage of each plan. (4 points)
  2. Identify and explain which employer you felt offers the better retirement benefits. Why? (1 point)

 

• If you could identify one lesson learned about retirement planning, what would it be? Why is this lesson important? (2 points)

 

 

 

 

Part B: Applying Financial Skills to Your Life (10 total points)

Since this is an applied course, a final aspect of the course will be to practice the financial skills presented in this course and apply them to your life. This assignment will require you to:

• Select one of the following individuals listed below to interview
• Contact them (by phone or in person) and conduct the interview with the individual
• Submit via D2L either a short (approximately 5 minute) video reflection of the event OR a one-two page (double spaced) analysis describing your experience. If choosing the video reflection, you should provide an overview of your experience by using your own words to describe the experience and identify what you have learned from the experience. In your paper, please post your video on youtube (there is a way to make the video private) and in the body of your paper, include a weblink for us to view the video.

For the purpose of this assignment, you may choose to interview one of the following:

• Housing Counselor/Realtor: Interview a local housing counselor and/or realtor to better understand the housing market in your community and identify two take away messages Insurance Professional: Visit an Insurance professional to understand their role with helping consumers and identify two take away messages that they suggest for financial protection Investing/Tax Professional: Interview a financial professional (Financial Planner, Broker, Advisor, CPA, etc.) to understand their role with helping consumers make sound investing decisions and identify two take away messages that they suggest for successful investing
• Local Lender: Interview a local lender at a financial institution to better understand local lending options and identify two take away messages that they suggest for building your credit
• Student Loan Officer: Interview a local student loan officer at the MSU Office of Financial Aid (or another local university) to better understand student loan repayment options and identify two take away messages that they suggest for successful financial loan repayment
• Other: If different from the above list, please seek approval from your instructor

If you choose a Video Reflection – it should address:

• Identify and describe two take away messages in your own words
• Provide a short reflection on the experience from your perspective (What did you learn from talking with this individual? How will knowing this information benefit you in the future? What did you think of this assignment – was it beneficial?)

Post the video on youtube and provide a link for us to view the video (Do NOT attach the video to dropbox for us to view.)

If you choose a one – two page, double spaced paper, it should include the following:

• Identify and describe two take away messages
• Provide a short reflection on the experience (What did you learn from talking with this individual? How will knowing this information benefit you in the future? What did you think of this assignment – was it beneficial?)

 

 

 

HDFS 238 Personal Finance

Assignment #3

Rubric for Investment Retirement Analysis

DUE: June 29, 2015

 

Requirement	Points Possible	Did you complete this?
Choosing a Retirement Plan – Chart •          Employer #1 •          Employer #2	3
Choosing a Retirement Plan – Analysis •          Identify and describe the attributes of each employer’s retirement plan •          Identify and explain one main advantage and disadvantage of each plan •          Identify and explain which employer you felt offers the better retirement benefits. Why do you feel this way? •          If you could identify one lesson learned about retirement planning, what would it be? Why is this lesson important?	7
Applying Financial Skills to Your Life   Interview a financial professional (from list – see directions) and develop either a short (5 minute) video reflection OR 1-2 page, double spaced reflection paper of the experience. Either format should address: •          Identify and describe the two take away messages in your own words •          Provide a short reflection on the experience from your perspective (What did you learn from talking with this individual? How will knowing this information benefit you in the future? What did you think of this assignment – was it beneficial?)	10

 

 

Assignment should be:

There is no maximum or minimum page limit. Full credit will be given to students that answer the questions asked and explain their responses.