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Determining
your personal and financial goals may be a difficult task. You
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might
want to begin by examining your personal value system, using the
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questionnaire
developed by the Values and Lifestyles Program (VALS) at
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SRI.
Go to http://www.sric-bi.com/VALS/presurvey.shtml. Answer the
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survey
questions and identify your primary and secondary types. Click on
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the
types for their explanations, then explain how your types might
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influence
your approach to financial planning.
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Several
of the financial calculators can be used for time value problems in
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general.
For example, use the financial calculator on RBC Centura at
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http://partners.financenter.com/rbccentura/calculate/us-eng/savings03.fcs
to
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answer
the following questions:
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You
hope to receive $5000 in graduation gifts, which you will invest for your
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retirement
in 30 years. If you can earn 12% each year, how much will you have
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in
retirement fund at the end of 30 years?
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You
want to buy a $20,000 car in 3 years. If you can invest $6,300 a year and
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earn
8% each year, will you have enough funds at the end of three years?
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