Create Income for Your Retirement. What You Can Expect. What to Consider. Page 1 of 7

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Create Income for Your Retirement. What You Can Expect. What to Consider. Page 1 of 7"

Transcription

1 Page 1 of 7 RBC Retiremet Icome Plaig Process Create Icome for Your Retiremet At RBC Wealth Maagemet, we believe maagig your wealth to produce a icome durig retiremet is fudametally differet from maagig your wealth while accumulatig assets for retiremet. This is why we have developed a clear ad disciplied process to efficietly maage those distributios for a log ad prosperous retiremet. What to Cosider If you are ear retiremet or have already retired may complex issues may be o your mid icludig: Decisios relatig to maagig distributios from your retiremet savigs, social security ad maagig health care expeses; Uderstadig the effects market performace may have o your assets as well as the impact iflatio has o your spedig power; ad Balacig your curret icome eeds with the risk of ruig out of moey tomorrow. What You Ca Expect Your fiacial advisor will guide you through our five-step process desiged exclusively for retiremet icome plaig ad help you through the risks ad choices all retirees face. Together, you ca implemet strategies customized for your specific fiacial objectives usig our broad rage of world-class ivestmet ad cash maagemet products ad solutios. Step 5 Review & Moitor 4 Step 4 Implemet Products & Solutios 3 5 Step 3 Withdrawal Strategy 1 2 Step 1 Retiremet Aalysis Step 2 Build a Foudatio A divisio of RBC Capital Markets, LLC, Member NYSE/FINRA/SIPC. There s Wealth i Our Approach.

2 Page 2 of 7 RBC Retiremet Icome Plaig Process, cotiued Step Oe: Aalyze Your Retiremet Needs Oe of the biggest challeges of retiremet icome plaig may be simply gettig started. There is much to thik about. What are your icome sources? How much icome do you eed? Whe should you take Social Security? The list goes o ad o. We will help you aswer these questios ad gather the ecessary iformatio to create your retiremet icome pla. This icludes helpig you to idetify the expeses you see as livig (essetial) ad those expeses that are lifestyle (discretioary). Step Two: Build a Foudatio I retiremet, your ivestmet goals shift from maximizig wealth for some far-off retiremet date to esurig a icome that you caot outlive. Your fiacial advisor will first help you determie the gap betwee your livig expeses ad your assured icome. The he or she will help you decide how much of that gap you wat to cover. Thik of this as similar to creatig your ow persoal pesio. Step Three: Establish a Withdrawal Strategy We will help you choose a withdrawal strategy for your assets ot allocated to your foudatio. This portfolio ca be used to cover lifestyle expeses, wealth trasfer goals ad uexpected expeses that may arise. There are umerous strategies we ca use, some with more assuraces tha others. You may oly eed a strategy that distributes the icome your portfolio geerates or you may eed oe that distributes icome plus a retur of pricipal. We will implemet a strategy that is suitable for your retiremet icome ad wealth trasfer goals ad feeligs about risk ad retur. Step Four: Implemet Products & Solutios Oce we have determied the best approach for you we will desig a portfolio aroud your situatio that icorporates results from the first three steps. The portfolio will take ito cosideratio market coditios ow to create a approach that will balace immediate ad log-term icome eeds with ivestmet growth ad protectio. Step Five: Review ad Moitor Your Progress Life is costatly evolvig, therefore your icome eeds ad goals will chage over time. Also, it is ulikely your spedig ad portfolio returs will be exactly as we projected. The good ews is your retiremet icome pla ca chage right alog with you. We will moitor your retiremet icome pla to address your chagig eeds ad make ay ecessary adjustmets alog the way. Take Steps Toward the Retiremet You Wat Your fiacial advisor has the expertise, tools ad resources to help you create a pla for your retiremet ad how you wat to live it. Together you ca evaluate the sesitivities of your pla, ad determie retiremet strategies ad solutios that are appropriate for your uique dreams, ivestmet philosophy ad fiacial circumstaces. Your retiremet is too importat to be left to chace. Cotact your fiacial advisor for assistace with plaig your retiremet icome today.

3 Page 3 of 7 RBC Retiremet Icome Plaig Process, cotiued Step Oe: Aalyze Your Retiremet Needs The purpose of the first step is gaiig a thorough uderstadig of what makes your retiremet ad fiacial life uique. Ad the pay off is havig the iformatio ecessary to pla effectively. Idetify What You Evisio Retiremet may mea may thigs to you; time for favorite hobbies, leisure pursuits, travel ad persoal erichmet; to support causes importat to you; to sped with the people you care about ad to create the legacy by which you will someday be remembered. Your fiacial advisor will help you prioritize your persoal lifestyle goals ad set realistic expectatios about how you may achieve them fiacially. Determie The Parameters of Your Retiremet While we must explore a variety of importat questios related to your ability to create icome i retiremet, we ca help make fidig the relevat aswers a maageable experiece for you. We ll work with you to documet your resources: What ivestmets do you curretly have? How much will your Social Security beefit be ad whe is the best time to begi takig it? Do you have other sources of icome (pesio, retal icome, iheritace, reverse mortgage, etc.)? We also will help you idetify your retiremet icome eeds by categorizig your expeses ito: Livig Expeses Basic livig expeses that must be covered such as food, clothig, shelter, health care ad utilities; ad Lifestyle Expeses Expeses that may be cosidered above ad beyod your basic livig expeses. Perhaps these are the wats of your retiremet years, such as travel ad etertaimet. I additio you should pla for uexpected expeses that may arise ad/or wealth trasfer goals. A Key Cosideratio: Sustaiability A importat factor i determiig your success i retiremet is your withdrawal rate, which is the percetage of icome withdraw from your portfolio. For example, if you have a $1 millio portfolio, ad you withdraw $40,000, your withdrawal rate is 4% ($40,000 divided by $1 millio). I retiremet, you wat to icrease the probability of ot ruig out of moey or more importatly, icome. So, it is critical to choose a sustaiable withdrawal rate. You will eed to determie what legth of time you wat to pla for, 15, 20, 30, 35, 40 years ad what probability of success you are comfortable with. There have bee umerous studies doe o this subject usig either Mote Carlo simulatio or historical returs. They geerally poit to a 4% iitial withdrawal rate if you are plaig for a 30-year retiremet ad wat a 90%+ chace of success. Shorter horizos ad lower probabilities ca icrease the iitial withdrawal rate. The followig table summarizes the results of a ifluetial paper writte by professors at Triity Uiversity: Full results ca be foud i our fact sheet ad white paper Choosig a Sustaiable Withdrawal Rate. Probability of Maitaiig a Positive Portfolio Balace Plaig Horizo Withdrawal Rates Success Rates 4% 5% 6% 40 85% 43% 15% 35 96% 53% 27% % 66% 39% % 84% 56% % 98% 77% % 100% 100% Portfolio cosistig of 50% stocks ad 50% bods *Source: The Retiremet Savigs: Choosig a Withdrawal Rate that is Sustaiable ( The Triity Study ) February The Triity Study uses historical returs of stocks (S&P 500) ad 20 year US Govermet Bods compiled by Ibbotso Associates, coverig the period from 1926 to 1995 (subsequetly updated by Wade Pfau through 2010). Historical iflatio was based o the CPI Idex. Wade Pfau updated data to iclude 35 & 40 year horizos. Part of determiig a sustaiable withdrawal rate is strikig a balace betwee short-term ad log-term eeds. Drawig too heavily especially i the early years, durig periods of market volatility or whe ivestmets have lost value could put you at risk of ruig out too soo. Take too little, ad you ru the risk of eedlessly deyig yourself the ability to ejoy your moey. Which is why we miimize these risks by makig yearly adjustmets based o iflatio ad your portfolio.

4 Page 4 of 7 RBC Retiremet Icome Plaig Process, cotiued Retiremet Needs Aalyzed By listeig to you ad aswerig your questios, your fiacial advisor ca help you gather the iformatio required to make prudet ad practical recommedatios about the choices available. This icludes helpig you evaluate the retiremet plaig cocers, as well as defiig the expeses you see as livig ad those expeses that are more lifestyle. Together, we will use the iformatio from your persoal retiremet aalysis to uderstad your icome eeds durig retiremet. From there we ca calculate a withdrawal rate to illustrate your probability of success. Step Two: Build a Foudatio The purpose of the secod step is creatig a assured icome base. The pay off is havig a depedable icome stream to cover some or all of your livig expeses, o matter how log you live. Build Your Foudatio Thik of this as creatig your ow persoal pesio a assured icome to fud your uique retiremet eeds, o matter how log you may live. Our goal is to complemet your existig assured icome sources like Social Security ad perhaps a pesio or auity. This ca help protect agaist logevity risk, market risk ad depedig o the product you use, iflatio risk. Your fiacial advisor will help you determie the gap, if ay, betwee your livig expeses, determied i step oe, ad your assured icome sources. We will the determie how much of this gap you wat to cover all, a portio or oe of it, balacig your desire for assured icome versus the potetial of creatig more icome through higher returs or higher yields. With the uderstadig that takig additioal risk may also icrease the chace of losses i your portfolio. Some factors to cosider i determiig the amout of assets you wat to dedicate to a foudatio: Withdrawal Rate The lower your withdrawal rate, the smaller the foudatio you may eed. Risk Tolerace Coservative ivestors prefer certaity ad products that offer dowside protectio ad assured icome. The more coservative you are, the larger the foudatio you may wat. Life Expectacy The loger you thik you will live past the averages, the more assured icome you should cosider. Whe buildig a foudatio you will wat to use ivestmet solutios that are isured or risk-free. High quality fixed-icome istrumets such as Treasuries, Certificates of Deposit, Zero Coupo Bods, Treasury Iflatio Protected securities. Isured products iclude Sigle Premium Immediate Auities, Variable Auities, Fixed Idex Auities ad Deferred Icome Auities. These products ca assure a predictable lifetime icome. Your fiacial advisor ca discuss the cost of these optios alog with the advatages ad disadvatages based o the curret market eviromet. Cosider a Hypothetical Example Let s say we ve determied you eed $100,000 a year i retiremet ad of that $60,000 is eeded to cover your livig expeses. Let s also say you will receive $30,000 a year i Social Security ad $10,000 from a pesio idicatig a gap of $20,000. If your retiremet assets were to be depleted, you would still have these assured icome streams, but would that be eough? We will determie how much of the $20,000 gap you wat to cover ad what type of ivestmet solutio fits best based o your idividual circumstaces. The Outcome: A Solid Fiacial Foudatio for Your Retiremet Our goal is to create a foudatio you are comfortable with ad that will cotiue as log as you live, regardless of what happes i the market. You ll gai peace of mid ad greater cofidece kowig you have created a foudatio for your fiacial idepedece while guardig agaist the fiacial risks commoly faced by retirees.

5 Page 5 of 7 RBC Retiremet Icome Plaig Process, cotiued Step Three: Establish a Withdrawal Strategy The purpose of the third step is to determie how you will create your retiremet icome from your lifestyle portfolio that will supplemet the assured icome from your foudatio. The pay off is havig a source of icome for your lifestyle ad uexpected expeses, as well as protectig assets for your wealth trasfer goals. Four Facts to Keep i Mid 1. The first two steps of our retiremet icome plaig process helped us aalyze your icome eeds ad build a foudatio of assured icome for your livig expeses. 2. For your assets ot allocated to your foudatio, we will help you choose a withdrawal strategy for distributios from your lifestyle portfolio. 3. There are umerous withdrawal strategies we ca use, some with more assuraces tha others. 4. It is importat to use a withdrawal strategy that is suitable for your goals, feeligs about risk, time horizo, curret market coditios ad your retiremet icome ad wealth trasfer goals. Choosig a withdrawal strategy for your lifestyle portfolio requires careful decisio-makig. No two ivestors are alike, ad the strategy ad portfolio allocatio that works for your relatives, frieds, ad colleagues may ot be appropriate for your uique eeds. Strategies to Explore While ejoyig retiremet, timig ca be critical because you are liquidatig assets to support expeses ad ot reivestig. A key goal with your withdrawal strategy is how to prevet beig i a positio of havig to sell your retiremet assets whe they are dow. You ad your fiacial advisor may wat to compare the relative merits of several withdrawal strategies before choosig the oe that is most suitable for your goals ad circumstaces: Icome Oly Withdrawig oly iterest ad divideds from ivestmets ad leavig pricipal aloe; Bucket Approach Settig aside cash ad/or bods for a few years of icome to creatig specific portfolios dedicated to short, itermediate ad log-term eeds; Systematic Withdrawal Takig a pre-determied percetage or dollar amout durig each time period from a diversified portfolio. Just like you did i step two, you should cosider the followig factors whe evaluatig which withdrawal strategy best fits your eeds: Withdrawal Rate The lower your withdrawal rate the more optios you have, e.g. i a low iterest rate eviromet, it s difficult to use a Icome Oly strategy if your withdrawal rate is too high. Risk Tolerace If you are a aggressive ivestor, the Icome Oly strategy may ot appeal to you. Life Expectacy The shorter your time horizo, the more optios you have available. Harvestig Strategies I a paper published i the Joural of Fiacial Plaig (March 2006), Joatho Guyto describes guidelies he developed o how best to harvest assets from a portfolio to geerate retiremet icome. I geeral he foud that it s importat to try ad avoid sellig assets that are dow i value ad whe possible to harvest i the followig order: 1. Icome from iterest ad divideds distributed first 2. Asset classes with positive returs Begi with equities The fixed icome 3. Cash holdigs 4. Assets with egative returs Begi with fixed icome The equities Rebalacig Alog with the decisio rules to avoid sellig assets whe they are dow, it s also importat to maitai the overall asset allocatio through rebalacig. As you are geeratig icome through the sale of assets with positive returs (sellig high), you will also wat to cosider purchasig those assets with egative returs (buyig low) to maitai the origial asset mix. Mr Guyto s work did ot take ito accout the affect of taxes, so i some cases it may make sese to sell assets at a loss to help off set gais. Every situatio is differet, so i some cases harvestig from oe or several accouts i this particular order may ot be the most efficiet way of geeratig the icome eeded. For more iformatio o maagig tax liabilities i retiremet, ask your advisor for a copy of Tax Cosideratios for Retiremet Icome Plaig.

6 Page 6 of 7 RBC Retiremet Icome Plaig Process, cotiued Step Four: Implemet Products & Solutios The purpose of the fourth step is to build a portfolio that creates the icome you eed for today ad the growth you desire i the future. There are fudametal differeces betwee costructig a portfolio to help grow your wealth (accumulatio) as compared to buildig a portfolio that will help create your retiremet icome (distributio). The major differeces are Sequece of Returs ad Volatility. Havig to create icome by sellig assets that have experieced loses ca prematurely deplete a portfolio. The Withdrawal Strategy you chose i Step 3 will help determie how your portfolio should be structured. By buildig a portfolio that geerates most or all of the icome eeded, it ca help miimize the affects of havig to sell assets, but it will also eed to balace the growth eeded to offset iflatio. Your portfolio, ad the ivestmets withi your portfolio will eed to chage over time as you age ad as markets shift from low iterest rates to high ad bear markets to bull. Your fiacial advisor ca help make recommedatios that are most suitable for your circumstaces i all market eviromets. Based o the strategy you select, your fiacial advisor ca recommed a wide variety of asset allocatios ad ivestmet products ad solutios such as: Idividual Solutios: Stocks / Divided payig ivestmets Fixed icome Cash Alterative ivestmets Diversified Products: Mutual fuds ETFs Closed-ed fuds Professioal moey maagers Auities Isurace The Outcome: A Well-diversified Source of Retiremet Icome By supplemetig your assured icome with icome from your lifestyle portfolio, you will ejoy the flexibility of allocatig moey toward lifestyle ad uexpected expeses, as well as your wealth trasfer goals. You ll gai peace of mid ad greater cofidece kowig you have the opportuity to create both assured icome that you caot outlive ad lifestyle icome that helps you guard agaist the effects of iflatio ad other risks commoly faced by retirees.

7 Page 7 of 7 RBC Retiremet Icome Plaig Process, cotiued Step Five: Review ad Moitor Your Progress The fial step i our process is to make adjustmets to help preserve your portfolio throughout your retiremet. The pay off is havig the ability to correct your retiremet icome pla whe it gets off track, as well as to adapt to ew icome eeds you may ecouter i retiremet. Flexibility for Stregth As we review your retiremet icome pla we kow that you will either be ahead of pla or behid pla. We will review where you are today the illustrate where the pla estimates you will be a year from ow based o the assumptios we made: Retiremet Goals ad Expectatios Has there bee a chage i your retiremet goals ad expectatios? Assets Are your assets higher or lower tha the projectio? Icome Were your icome estimates correct? Did you receive ay uexpected cash iflows? Spedig Is your spedig, icludig taxes, what you aticipated? Portfolio Was the retur o the portfolio higher or lower tha we estimated? Does your portfolio eed adjustig based o the curret market eviromet? Withdrawal Rate Does your actual withdrawal rate fall i a level of success you are comfortable with based o your time horizo? (Use Triity Study) Iflatio Do you eed to icrease your spedig for iflatio (CPI)? Foudatio Is your foudatio coverig the expeses you eed it to? Withdrawal Strategy Does your strategy still fit your situatio ad the curret market? Spedig Strategies Your spedig eeds may chage from year to year due to factors like lifestyle chages, ad iflatio. To help balace your chagig eeds with the importace of preservig your portfolio, we will icorporate two spedig rules developed ad back-tested by Joatho Guyto: 1. If the retur o your portfolio is positive, we ca icrease your icome based o iflatio (CPI) from the previous year, with a maximum icrease of 6%; but 2. If your portfolio retur is egative, your icome for the upcomig year will ot be icreased. Spedig ad Harvestig Rules Study Results By utilizig the two spedig rules alog with the harvestig strategies, Joatho Guyto foud that over 40 year rollig periods ( ) a retiree could icrease their iitial withdrawal rate by 1.00% to 1.30%, with a 95% cofidece level. The Outcome: A Retiremet Icome Pla Offerig a Greater Sese of Cotrol Some people make thigs happe. Some people let thigs happe. Ad some people woder what happeed. There may be some truth to this popular adage. While some thigs are beyod our cotrol as idividuals, if you see yourself as a make thigs happe kid of perso, whe it comes to your retiremet you may appreciate the ability to both idetify what you ca cotrol ad take appropriate actio that is offered by this step of our retiremet icome plaig process. You ll gai peace of mid ad greater cofidece kowig you have defied your retiremet icome goals, implemeted a appropriate pla to achieve them ad are takig a systematic approach to reviewig ad moitorig your progress. Take Steps Toward Fiacial Freedom Durig Retiremet While you are ejoyig a log, happy retiremet, we ll repeat the review ad moitor step o a regular basis. Should we determie that chages may help you be eve more successful at buildig, preservig, ejoyig ad sharig your wealth, it will be relatively easy for us to repeat other steps of our retiremet icome plaig processes, as required. Your retiremet is too importat to prepare for oly oce i a lifetime. It is worthy of a customized retiremet icome pla, periodically measured, thoughtfully evaluated ad methodically revised as your life ad your eeds evolve, grow ad mature. Cotact your fiacial advisor today for help creatig the fiacial future you wat RBC Capital Markets, LLC. All rights reserved (03/15)

TIAA-CREF Wealth Management. Personalized, objective financial advice for every stage of life

TIAA-CREF Wealth Management. Personalized, objective financial advice for every stage of life TIAA-CREF Wealth Maagemet Persoalized, objective fiacial advice for every stage of life A persoalized team approach for a trusted lifelog relatioship No matter who you are, you ca t be a expert i all aspects

More information

How to use what you OWN to reduce what you OWE

How to use what you OWN to reduce what you OWE How to use what you OWN to reduce what you OWE Maulife Oe A Overview Most Caadias maage their fiaces by doig two thigs: 1. Depositig their icome ad other short-term assets ito chequig ad savigs accouts.

More information

PENSION ANNUITY. Policy Conditions Document reference: PPAS1(7) This is an important document. Please keep it in a safe place.

PENSION ANNUITY. Policy Conditions Document reference: PPAS1(7) This is an important document. Please keep it in a safe place. PENSION ANNUITY Policy Coditios Documet referece: PPAS1(7) This is a importat documet. Please keep it i a safe place. Pesio Auity Policy Coditios Welcome to LV=, ad thak you for choosig our Pesio Auity.

More information

Enhance Your Financial Legacy Variable Annuity Death Benefits from Pacific Life

Enhance Your Financial Legacy Variable Annuity Death Benefits from Pacific Life Ehace Your Fiacial Legacy Variable Auity Death Beefits from Pacific Life 7/15 20172-15B As You Pla for Retiremet, Protect Your Loved Oes A Pacific Life variable auity ca offer three death beefits that

More information

Withdrawals with SunAmerica Income Plus 6% SM

Withdrawals with SunAmerica Income Plus 6% SM Guaratee cliets Withdrawals with SuAmerica Icome Plus 6% SM More Now More Later More Flexibility Growth with SuAmerica Icome Builder 8% SM For fiacial professioal use oly. Not for distributio to the public.

More information

5.4 Amortization. Question 1: How do you find the present value of an annuity? Question 2: How is a loan amortized?

5.4 Amortization. Question 1: How do you find the present value of an annuity? Question 2: How is a loan amortized? 5.4 Amortizatio Questio 1: How do you fid the preset value of a auity? Questio 2: How is a loa amortized? Questio 3: How do you make a amortizatio table? Oe of the most commo fiacial istrumets a perso

More information

Enhance Your Financial Legacy Variable Annuities with Death Benefits from Pacific Life

Enhance Your Financial Legacy Variable Annuities with Death Benefits from Pacific Life Ehace Your Fiacial Legacy Variable Auities with Death Beefits from Pacific Life 9/15 20188-15C FOR CALIFORNIA As You Pla for Retiremet, Protect Your Loved Oes A Pacific Life variable auity ca offer three

More information

For customers Key features of the Guaranteed Pension Annuity

For customers Key features of the Guaranteed Pension Annuity For customers Key features of the Guarateed Pesio Auity The Fiacial Coduct Authority is a fiacial services regulator. It requires us, Aego, to give you this importat iformatio to help you to decide whether

More information

CHAPTER 3 THE TIME VALUE OF MONEY

CHAPTER 3 THE TIME VALUE OF MONEY CHAPTER 3 THE TIME VALUE OF MONEY OVERVIEW A dollar i the had today is worth more tha a dollar to be received i the future because, if you had it ow, you could ivest that dollar ad ear iterest. Of all

More information

Preserving Your Financial Legacy with Life Insurance Premium Financing.

Preserving Your Financial Legacy with Life Insurance Premium Financing. Preservig Your Fiacial Legacy with Life Isurace Premium Fiacig. Prepared by: Keeth M. Fujita, Natioal Director, The Private Bak Specialty Fiace Group Life Isurace Premium Fiace. James Mosrie, Seior Wealth

More information

.04. This means $1000 is multiplied by 1.02 five times, once for each of the remaining sixmonth

.04. This means $1000 is multiplied by 1.02 five times, once for each of the remaining sixmonth Questio 1: What is a ordiary auity? Let s look at a ordiary auity that is certai ad simple. By this, we mea a auity over a fixed term whose paymet period matches the iterest coversio period. Additioally,

More information

WHAT IS YOUR PRIORITY?

WHAT IS YOUR PRIORITY? MOVE AHEAD The uderlyig priciples of soud ivestmet should ot alter from decade to decade, but the applicatio of these priciples must be adapted to sigificat chages i the fiacial mechaisms ad climate. BENJAMIN

More information

TIAA-CREF WEALTH MANAGEMENT A HIGHLY PERSONALIZED, SOPHISTICATED SERVICE DESIGNED TO MATCH ONE OBJECTIVE: YOURS

TIAA-CREF WEALTH MANAGEMENT A HIGHLY PERSONALIZED, SOPHISTICATED SERVICE DESIGNED TO MATCH ONE OBJECTIVE: YOURS TIAA-CREF WEALTH MANAGEMENT A HIGHLY PERSONALIZED, SOPHISTICATED SERVICE DESIGNED TO MATCH ONE OBJECTIVE: YOURS TIAA-CREF: FINANCIAL SERVICES FOR THE GREATER GOOD. OUR HISTORY We are TIAA-CREF. A full-service

More information

Information about Bankruptcy

Information about Bankruptcy Iformatio about Bakruptcy Isolvecy Service of Irelad Seirbhís Dócmhaieachta a héirea Isolvecy Service of Irelad Seirbhís Dócmhaieachta a héirea What is the? The Isolvecy Service of Irelad () is a idepedet

More information

DC College Savings Plan Helping Children Reach a Higher Potential

DC College Savings Plan Helping Children Reach a Higher Potential 529 DC College Savigs Pla Helpig Childre Reach a Higher Potetial reach Sposored by Govermet of the District of Columbia Office of the Mayor Office of the Chief Fiacial Officer Office of Fiace ad Treasury

More information

I. Why is there a time value to money (TVM)?

I. Why is there a time value to money (TVM)? Itroductio to the Time Value of Moey Lecture Outlie I. Why is there the cocept of time value? II. Sigle cash flows over multiple periods III. Groups of cash flows IV. Warigs o doig time value calculatios

More information

Trusteed IRAs. Integrate and simplify your retirement and estate plans

Trusteed IRAs. Integrate and simplify your retirement and estate plans Trusteed IRAs Itegrate ad simplify your retiremet ad estate plas Trusteed IRAs from Merrill Lych Trust Compay To create the legacy of your dreams, you may eed more tha a Idividual Retiremet Accout ad a

More information

Introducing Your New Wells Fargo Trust and Investment Statement. Your Account Information Simply Stated.

Introducing Your New Wells Fargo Trust and Investment Statement. Your Account Information Simply Stated. Itroducig Your New Wells Fargo Trust ad Ivestmet Statemet. Your Accout Iformatio Simply Stated. We are pleased to itroduce your ew easy-to-read statemet. It provides a overview of your accout ad a complete

More information

Investment & Portfolio Strategy

Investment & Portfolio Strategy Ivestmet & Portfolio Strategy Jauary 2014 Five Keys to a Successful Retiremet Thikig about retiremet is o loger a future evet or viewed as optioal for may Americas. Most recogize the eed for careful plaig

More information

Get advice now. Are you worried about your mortgage? New edition

Get advice now. Are you worried about your mortgage? New edition New editio Jauary 2009 Are you worried about your mortgage? Get advice ow If you are strugglig to pay your mortgage, or you thik it will be difficult to pay more whe your fixed-rate deal eds, act ow to

More information

Eckart Wealth Management Group

Eckart Wealth Management Group Eckart Wealth Maagemet Group A broad rage of capabilities desiged to build ad erich your fiacial life. ADVICE AND GUIDANCE RETIREMENT BANKING SOLUTIONS FOR BUSINESS TRACKING PROGRESS CREDIT AND LENDING

More information

Retirement By the Numbers

Retirement By the Numbers Retiremet By the Numbers Fiacial priorities may vary depedig o your age, but every perso wats a successful retiremet. This workbook ca help you estimate your retiremet eeds ad explai the optios available

More information

Grow your business with savings and debt management solutions

Grow your business with savings and debt management solutions Grow your busiess with savigs ad debt maagemet solutios A few great reasos to provide bak ad trust products to your cliets You have the expertise to help your cliets get the best rates ad most competitive

More information

Bond Valuation I. What is a bond? Cash Flows of A Typical Bond. Bond Valuation. Coupon Rate and Current Yield. Cash Flows of A Typical Bond

Bond Valuation I. What is a bond? Cash Flows of A Typical Bond. Bond Valuation. Coupon Rate and Current Yield. Cash Flows of A Typical Bond What is a bod? Bod Valuatio I Bod is a I.O.U. Bod is a borrowig agreemet Bod issuers borrow moey from bod holders Bod is a fixed-icome security that typically pays periodic coupo paymets, ad a pricipal

More information

Amendments to employer debt Regulations

Amendments to employer debt Regulations March 2008 Pesios Legal Alert Amedmets to employer debt Regulatios The Govermet has at last issued Regulatios which will amed the law as to employer debts uder s75 Pesios Act 1995. The amedig Regulatios

More information

My first gold holdings. My first bank. Simple. Transparent. Individual. Our investment solutions for clients abroad.

My first gold holdings. My first bank. Simple. Transparent. Individual. Our investment solutions for clients abroad. My first gold holdigs. My first bak. Simple. Trasparet. Idividual. Our ivestmet solutios for cliets abroad. The perfect basis for workig together successfully The wheel of time is turig faster tha ever

More information

Flood Emergency Response Plan

Flood Emergency Response Plan Flood Emergecy Respose Pla This reprit is made available for iformatioal purposes oly i support of the isurace relatioship betwee FM Global ad its cliets. This iformatio does ot chage or supplemet policy

More information

How to read A Mutual Fund shareholder report

How to read A Mutual Fund shareholder report Ivestor BulletI How to read A Mutual Fud shareholder report The SEC s Office of Ivestor Educatio ad Advocacy is issuig this Ivestor Bulleti to educate idividual ivestors about mutual fud shareholder reports.

More information

Domain 1: Designing a SQL Server Instance and a Database Solution

Domain 1: Designing a SQL Server Instance and a Database Solution Maual SQL Server 2008 Desig, Optimize ad Maitai (70-450) 1-800-418-6789 Domai 1: Desigig a SQL Server Istace ad a Database Solutio Desigig for CPU, Memory ad Storage Capacity Requiremets Whe desigig a

More information

Savings and Retirement Benefits

Savings and Retirement Benefits 60 Baltimore Couty Public Schools offers you several ways to begi savig moey through payroll deductios. Defied Beefit Pesio Pla Tax Sheltered Auities ad Custodial Accouts Defied Beefit Pesio Pla Did you

More information

A GUIDE TO BUILDING SMART BUSINESS CREDIT

A GUIDE TO BUILDING SMART BUSINESS CREDIT A GUIDE TO BUILDING SMART BUSINESS CREDIT Establishig busiess credit ca be the key to growig your compay DID YOU KNOW? Busiess Credit ca help grow your busiess Soud paymet practices are key to a solid

More information

Insure the financial future of your loved ones, and your financial independence, when you need it the most! LIFE INSURANCE WITH LONG-TERM CARE ADVANCE

Insure the financial future of your loved ones, and your financial independence, when you need it the most! LIFE INSURANCE WITH LONG-TERM CARE ADVANCE LIFE INSURANCE WITH LONG-TERM CARE ADVANCE Isure the fiacial future of your loved oes, ad your fiacial idepedece, whe you eed it the most! Desjardis Isurace refers to Desjardis Fiacial Security Life Assurace

More information

A guide to School Employees' Well-Being

A guide to School Employees' Well-Being A guide to School Employees' Well-Beig Backgroud The public school systems i the Uited States employ more tha 6.7 millio people. This large workforce is charged with oe of the atio s critical tasks to

More information

CHAPTER 11 Financial mathematics

CHAPTER 11 Financial mathematics CHAPTER 11 Fiacial mathematics I this chapter you will: Calculate iterest usig the simple iterest formula ( ) Use the simple iterest formula to calculate the pricipal (P) Use the simple iterest formula

More information

INVESTMENT PERFORMANCE COUNCIL (IPC) Guidance Statement on Calculation Methodology

INVESTMENT PERFORMANCE COUNCIL (IPC) Guidance Statement on Calculation Methodology Adoptio Date: 4 March 2004 Effective Date: 1 Jue 2004 Retroactive Applicatio: No Public Commet Period: Aug Nov 2002 INVESTMENT PERFORMANCE COUNCIL (IPC) Preface Guidace Statemet o Calculatio Methodology

More information

HSAs the American Fidelity Way:

HSAs the American Fidelity Way: Health Ser vices Admiistratio, LLC HSAs the America Fidelity Way: Kowledge, Experiece, Commitmet With over 30 years experiece i providig pre-tax services, America Fidelity is a pioeer i Sectio 125 flexible

More information

A Resource for Free-standing Mathematics Qualifications Working with %

A Resource for Free-standing Mathematics Qualifications Working with % Ca you aswer these questios? A savigs accout gives % iterest per aum.. If 000 is ivested i this accout, how much will be i the accout at the ed of years? A ew car costs 16 000 ad its value falls by 1%

More information

CDs Bought at a Bank verses CD s Bought from a Brokerage. Floyd Vest

CDs Bought at a Bank verses CD s Bought from a Brokerage. Floyd Vest CDs Bought at a Bak verses CD s Bought from a Brokerage Floyd Vest CDs bought at a bak. CD stads for Certificate of Deposit with the CD origiatig i a FDIC isured bak so that the CD is isured by the Uited

More information

INVESTMENT PERFORMANCE COUNCIL (IPC)

INVESTMENT PERFORMANCE COUNCIL (IPC) INVESTMENT PEFOMANCE COUNCIL (IPC) INVITATION TO COMMENT: Global Ivestmet Performace Stadards (GIPS ) Guidace Statemet o Calculatio Methodology The Associatio for Ivestmet Maagemet ad esearch (AIM) seeks

More information

Learning objectives. Duc K. Nguyen - Corporate Finance 21/10/2014

Learning objectives. Duc K. Nguyen - Corporate Finance 21/10/2014 1 Lecture 3 Time Value of Moey ad Project Valuatio The timelie Three rules of time travels NPV of a stream of cash flows Perpetuities, auities ad other special cases Learig objectives 2 Uderstad the time-value

More information

*The most important feature of MRP as compared with ordinary inventory control analysis is its time phasing feature.

*The most important feature of MRP as compared with ordinary inventory control analysis is its time phasing feature. Itegrated Productio ad Ivetory Cotrol System MRP ad MRP II Framework of Maufacturig System Ivetory cotrol, productio schedulig, capacity plaig ad fiacial ad busiess decisios i a productio system are iterrelated.

More information

Two people, one policy. Affordable long-term care coverage for both.

Two people, one policy. Affordable long-term care coverage for both. Log-term care rider, available o Natiowide YourLife No-Lapse Guaratee SUL II Feature guide LIFE INSURANCE + LONG-ERM CARE wo people, oe policy. Affordable log-term care coverage for both. NAIONWIDE LIFE

More information

Use Your Home to Stay at Home. The official reverse mortgage consumer booklet approved by the U.S. Department of Housing & Urban Development

Use Your Home to Stay at Home. The official reverse mortgage consumer booklet approved by the U.S. Department of Housing & Urban Development Use Your Home to The official reverse mortgage cosumer booklet approved by the U.S. Departmet of Housig & Urba Developmet The Natioal Coucil o Agig (NCOA) is committed to helpig older persos maximize all

More information

Institute of Actuaries of India Subject CT1 Financial Mathematics

Institute of Actuaries of India Subject CT1 Financial Mathematics Istitute of Actuaries of Idia Subject CT1 Fiacial Mathematics For 2014 Examiatios Subject CT1 Fiacial Mathematics Core Techical Aim The aim of the Fiacial Mathematics subject is to provide a groudig i

More information

Health and dental coverage that begins when your group health benefits end

Health and dental coverage that begins when your group health benefits end Health ad detal coverage that begis whe your group health beefits ed Uderwritte by The Maufacturers Life Isurace Compay Page 1 of 5 FollowMeTM Health ca be your solutio. Life is full of chages. Some are

More information

Investing in Stocks WHAT ARE THE DIFFERENT CLASSIFICATIONS OF STOCKS? WHY INVEST IN STOCKS? CAN YOU LOSE MONEY?

Investing in Stocks WHAT ARE THE DIFFERENT CLASSIFICATIONS OF STOCKS? WHY INVEST IN STOCKS? CAN YOU LOSE MONEY? Ivestig i Stocks Ivestig i Stocks Busiesses sell shares of stock to ivestors as a way to raise moey to fiace expasio, pay off debt ad provide operatig capital. Ecoomic coditios: Employmet, iflatio, ivetory

More information

Impact your future. Make plans with good advice from ACT. Get Set for College 1. THINK 2. CONSIDER 3. COMPARE 4. APPLY 5. PLAN 6.

Impact your future. Make plans with good advice from ACT. Get Set for College 1. THINK 2. CONSIDER 3. COMPARE 4. APPLY 5. PLAN 6. Impact your future Get Set for College 1. THINK 2. CONSIDER 3. COMPARE 4. APPLY 5. PLAN 6. DECIDE Make plas with good advice from ACT. 1. Thik Thik about yourself ad your college eeds Do you start thigs

More information

Time Value of Money. First some technical stuff. HP10B II users

Time Value of Money. First some technical stuff. HP10B II users Time Value of Moey Basis for the course Power of compoud iterest $3,600 each year ito a 401(k) pla yields $2,390,000 i 40 years First some techical stuff You will use your fiacial calculator i every sigle

More information

Chapter 5 Unit 1. IET 350 Engineering Economics. Learning Objectives Chapter 5. Learning Objectives Unit 1. Annual Amount and Gradient Functions

Chapter 5 Unit 1. IET 350 Engineering Economics. Learning Objectives Chapter 5. Learning Objectives Unit 1. Annual Amount and Gradient Functions Chapter 5 Uit Aual Amout ad Gradiet Fuctios IET 350 Egieerig Ecoomics Learig Objectives Chapter 5 Upo completio of this chapter you should uderstad: Calculatig future values from aual amouts. Calculatig

More information

Current Year Income Assessment Form

Current Year Income Assessment Form Curret Year Icome Assessmet Form Academic Year 2015/16 Persoal details Perso 1 Your Customer Referece Number Your Customer Referece Number Name Name Date of birth Address / / Date of birth / / Address

More information

I apply to subscribe for a Stocks & Shares ISA for the tax year 20 /20 and each subsequent year until further notice.

I apply to subscribe for a Stocks & Shares ISA for the tax year 20 /20 and each subsequent year until further notice. IFSL Brooks Macdoald Fud Stocks & Shares ISA Trasfer Applicatio Form IFSL Brooks Macdoald Fud Stocks & Shares ISA Trasfer Applicatio Form Please complete usig BLOCK CAPITALS ad retur the completed form

More information

Best of security and convenience

Best of security and convenience Get More with Additioal Cardholders. Importat iformatio. Add a co-applicat or authorized user to your accout ad you ca take advatage of the followig beefits: RBC Royal Bak Visa Customer Service Cosolidate

More information

FM4 CREDIT AND BORROWING

FM4 CREDIT AND BORROWING FM4 CREDIT AND BORROWING Whe you purchase big ticket items such as cars, boats, televisios ad the like, retailers ad fiacial istitutios have various terms ad coditios that are implemeted for the cosumer

More information

What You Need To Know About Your HECM Counseling Session

What You Need To Know About Your HECM Counseling Session What You Need To Kow About Your HECM Couselig Sessio 1. Why do I eed couselig? The US Departmet of Housig ad Urba Developmet (HUD) requires a certified couselig sessio for a federally-isured reverse mortgage,

More information

Optimize your Network. In the Courier, Express and Parcel market ADDING CREDIBILITY

Optimize your Network. In the Courier, Express and Parcel market ADDING CREDIBILITY Optimize your Network I the Courier, Express ad Parcel market ADDING CREDIBILITY Meetig today s challeges ad tomorrow s demads Aswers to your key etwork challeges ORTEC kows the highly competitive Courier,

More information

Ideate, Inc. Training Solutions to Give you the Leading Edge

Ideate, Inc. Training Solutions to Give you the Leading Edge Ideate, Ic. Traiig News 2014v1 Ideate, Ic. Traiig Solutios to Give you the Leadig Edge New Packages For All Your Traiig Needs! Bill Johso Seior MEP - Applicatio Specialist Revit MEP Fudametals Ad More!

More information

I apply to subscribe for a Stocks & Shares NISA for the tax year 2015/2016 and each subsequent year until further notice.

I apply to subscribe for a Stocks & Shares NISA for the tax year 2015/2016 and each subsequent year until further notice. IFSL Brooks Macdoald Fud Stocks & Shares NISA trasfer applicatio form IFSL Brooks Macdoald Fud Stocks & Shares NISA trasfer applicatio form Please complete usig BLOCK CAPITALS ad retur the completed form

More information

Handling. Collection Calls

Handling. Collection Calls Hadlig the Collectio Calls We do everythig we ca to stop collectio calls; however, i the early part of our represetatio, you ca expect some of these calls to cotiue. We uderstad that the first few moths

More information

Professional Networking

Professional Networking Professioal Networkig 1. Lear from people who ve bee where you are. Oe of your best resources for etworkig is alumi from your school. They ve take the classes you have take, they have bee o the job market

More information

Investment & Portfolio Strategy

Investment & Portfolio Strategy Ivestmet & Portfolio Strategy Five Threats to Your Retiremet September 213 Thikig about retiremet is o loger a future evet for may Americas; most recogize the eed for careful plaig throughout their workig

More information

where: T = number of years of cash flow in investment's life n = the year in which the cash flow X n i = IRR = the internal rate of return

where: T = number of years of cash flow in investment's life n = the year in which the cash flow X n i = IRR = the internal rate of return EVALUATING ALTERNATIVE CAPITAL INVESTMENT PROGRAMS By Ke D. Duft, Extesio Ecoomist I the March 98 issue of this publicatio we reviewed the procedure by which a capital ivestmet project was assessed. The

More information

Sole trader financial statements

Sole trader financial statements 3 Sole trader fiacial statemets this chapter covers... I this chapter we look at preparig the year ed fiacial statemets of sole traders (that is, oe perso ruig their ow busiess). We preset the fiacial

More information

Determining the sample size

Determining the sample size Determiig the sample size Oe of the most commo questios ay statisticia gets asked is How large a sample size do I eed? Researchers are ofte surprised to fid out that the aswer depeds o a umber of factors

More information

Wells Fargo Insurance Services Claim Consulting Capabilities

Wells Fargo Insurance Services Claim Consulting Capabilities Wells Fargo Isurace Services Claim Cosultig Capabilities Claim Cosultig Claims are a uwelcome part of America busiess. I a recet survey coducted by Fulbright & Jaworski L.L.P., large U.S. compaies face

More information

Use Your Home to Stay at Home. The official reverse mortgage consumer booklet approved by the U.S. Department of Housing & Urban Development

Use Your Home to Stay at Home. The official reverse mortgage consumer booklet approved by the U.S. Department of Housing & Urban Development Use Your Home to The official reverse mortgage cosumer booklet approved by the U.S. Departmet of Housig & Urba Developmet The Natioal Coucil o Agig (NCOA) is committed to helpig older persos to maximize

More information

6. p o s I T I v e r e I n f o r c e M e n T

6. p o s I T I v e r e I n f o r c e M e n T 6. p o s I T I v e r e I f o r c e M e T The way positive reiforcemet is carried out is more importat tha the amout. B.F. Skier We all eed positive reiforcemet. Whether or ot we are cosciously aware of

More information

Use Your Home to Stay at Home. The official reverse mortgage consumer booklet approved by the U.S. Department of Housing & Urban Development

Use Your Home to Stay at Home. The official reverse mortgage consumer booklet approved by the U.S. Department of Housing & Urban Development Use Your Home to The official reverse mortgage cosumer booklet approved by the U.S. Departmet of Housig & Urba Developmet The Natioal Coucil o Agig (NCOA) is committed to helpig older persos to maximize

More information

Assessment of the Board

Assessment of the Board Audit Committee Istitute Sposored by KPMG Assessmet of the Board Whe usig a facilitator, care eeds to be take if the idividual is i some way coflicted due to the closeess of their relatioship with the

More information

FI A CIAL MATHEMATICS

FI A CIAL MATHEMATICS CHAPTER 7 FI A CIAL MATHEMATICS Page Cotets 7.1 Compoud Value 117 7.2 Compoud Value of a Auity 118 7.3 Sikig Fuds 119 7.4 Preset Value 122 7.5 Preset Value of a Auity 122 7.6 Term Loas ad Amortizatio 123

More information

rs e n i n Discuss various financial products for savers and nvestors Understand various types of personalities and their financial needs

rs e n i n Discuss various financial products for savers and nvestors Understand various types of personalities and their financial needs e-learig ad referece solutios for the global fiace professioal Fiacial Plaig A comprehesive e-learig co u rs e o Fi acial P la i g The themes of this product are: Kow basic cocepts i fiacial plaig Discuss

More information

Life Insurance: Your Blueprint for Wealth Transfer Planning. Producer Guide to Private Split Dollar Arrangements. Your future. Made easier.

Life Insurance: Your Blueprint for Wealth Transfer Planning. Producer Guide to Private Split Dollar Arrangements. Your future. Made easier. Life Isurace: Your Blueprit for Wealth Trasfer Plaig Producer Guide to Private Split Dollar Arragemets These materials are ot iteded to be used to avoid tax pealties ad were prepared to support the promotio

More information

Pre-Suit Collection Strategies

Pre-Suit Collection Strategies Pre-Suit Collectio Strategies Writte by Charles PT Phoeix How to Decide Whether to Pursue Collectio Calculatig the Value of Collectio As with ay busiess litigatio, all factors associated with the process

More information

2 Time Value of Money

2 Time Value of Money 2 Time Value of Moey BASIC CONCEPTS AND FORMULAE 1. Time Value of Moey It meas moey has time value. A rupee today is more valuable tha a rupee a year hece. We use rate of iterest to express the time value

More information

Key Ideas Section 8-1: Overview hypothesis testing Hypothesis Hypothesis Test Section 8-2: Basics of Hypothesis Testing Null Hypothesis

Key Ideas Section 8-1: Overview hypothesis testing Hypothesis Hypothesis Test Section 8-2: Basics of Hypothesis Testing Null Hypothesis Chapter 8 Key Ideas Hypothesis (Null ad Alterative), Hypothesis Test, Test Statistic, P-value Type I Error, Type II Error, Sigificace Level, Power Sectio 8-1: Overview Cofidece Itervals (Chapter 7) are

More information

The Forgotten Middle. research readiness results. Executive Summary

The Forgotten Middle. research readiness results. Executive Summary The Forgotte Middle Esurig that All Studets Are o Target for College ad Career Readiess before High School Executive Summary Today, college readiess also meas career readiess. While ot every high school

More information

Personal Retirement Savings Accounts (PRSAs) A consumer and employers guide to PRSAs

Personal Retirement Savings Accounts (PRSAs) A consumer and employers guide to PRSAs Persoal Retiremet Savigs Accouts (PRSAs) A cosumer ad employers guide to PRSAs www.pesiosauthority.ie The Pesios Authority Verschoyle House 28/30 Lower Mout Street Dubli 2 Tel: (01) 613 1900 Locall: 1890

More information

CHAPTER 4: NET PRESENT VALUE

CHAPTER 4: NET PRESENT VALUE EMBA 807 Corporate Fiace Dr. Rodey Boehe CHAPTER 4: NET PRESENT VALUE (Assiged probles are, 2, 7, 8,, 6, 23, 25, 28, 29, 3, 33, 36, 4, 42, 46, 50, ad 52) The title of this chapter ay be Net Preset Value,

More information

Financial. Services Guide. Adviser: Graeme Hood CD, Dip FP, CFP Date of Preparation: 21/11/2005. Head Office Address:

Financial. Services Guide. Adviser: Graeme Hood CD, Dip FP, CFP Date of Preparation: 21/11/2005. Head Office Address: Fiacial Services Guide Adviser: Graeme Hood CD, Dip FP, CFP Date of Preparatio: 21/11/2005 Head Office Address: Fiacial Wisdom Limited (ABN 70 006 646 108) Australia Fiacial Services Licece No. 231138

More information

Comparing Credit Card Finance Charges

Comparing Credit Card Finance Charges Comparig Credit Card Fiace Charges Comparig Credit Card Fiace Charges Decidig if a particular credit card is right for you ivolves uderstadig what it costs ad what it offers you i retur. To determie how

More information

LEASE-PURCHASE DECISION

LEASE-PURCHASE DECISION Public Procuremet Practice STANDARD The decisio to lease or purchase should be cosidered o a case-by case evaluatio of comparative costs ad other factors. 1 Procuremet should coduct a cost/ beefit aalysis

More information

International Delegation A summary for financial advisers

International Delegation A summary for financial advisers Iteratioal Delegatio A summary for fiacial advisers Cotets Please ote For fiacial adviser use oly. It should ot be distributed to, or relied upo by, retail cliets. AXA Wealth Iteratioal is the brad used

More information

For customers Income protection the facts

For customers Income protection the facts For customers Icome protectio the facts We ve desiged this documet to give you more iformatio about our icome protectio beefits. It does t form part of ay cotract betwee you ad/or us. This iformatio refers

More information

Subject CT5 Contingencies Core Technical Syllabus

Subject CT5 Contingencies Core Technical Syllabus Subject CT5 Cotigecies Core Techical Syllabus for the 2015 exams 1 Jue 2014 Aim The aim of the Cotigecies subject is to provide a groudig i the mathematical techiques which ca be used to model ad value

More information

Retiree Life Solutions

Retiree Life Solutions A Leader i Employee Beefits Solutios Retiree Life Solutios Prudetial Group Isurace The Prudetial Isurace Compay of America 0237531 Results-Drive Solutios From a Name You Kow ad Trust Sice 1875, the Prudetial

More information

Page 1. Real Options for Engineering Systems. What are we up to? Today s agenda. J1: Real Options for Engineering Systems. Richard de Neufville

Page 1. Real Options for Engineering Systems. What are we up to? Today s agenda. J1: Real Options for Engineering Systems. Richard de Neufville Real Optios for Egieerig Systems J: Real Optios for Egieerig Systems By (MIT) Stefa Scholtes (CU) Course website: http://msl.mit.edu/cmi/ardet_2002 Stefa Scholtes Judge Istitute of Maagemet, CU Slide What

More information

National Institute on Aging. What Is A Nursing Home?

National Institute on Aging. What Is A Nursing Home? Natioal Istitute o Agig AgePage Nursig Homes: Makig The Right Choice Lucille has lived i her home for 33 years. Eve after her husbad died 3 years ago, she was able to maage o her ow. Recetly, she broke

More information

ABCs. of Diabetes Care

ABCs. of Diabetes Care ABCs of Diabetes Care Stayig healthy whe you have diabetes ca be challegig. But the more you focus o the positive results of a healthy diet, medicatio routie ad regular exercise, the easier it will be

More information

Simple Annuities Present Value.

Simple Annuities Present Value. Simple Auities Preset Value. OBJECTIVES (i) To uderstad the uderlyig priciple of a preset value auity. (ii) To use a CASIO CFX-9850GB PLUS to efficietly compute values associated with preset value auities.

More information

Managing Your Money. UNIT 4D Loan Payments, Credit Cards, and Mortgages: We calculate monthly payments and explore loan issues.

Managing Your Money. UNIT 4D Loan Payments, Credit Cards, and Mortgages: We calculate monthly payments and explore loan issues. A fool ad his moey are soo parted. Eglish proverb Maagig Your Moey Maagig your persoal fiaces is a complex task i the moder world. If you are like most Americas, you already have a bak accout ad at least

More information

Flexible Trust. (Settlor as trustee with optional survivorship clause) Your questions answered. What is a trust? What is a Flexible Trust?

Flexible Trust. (Settlor as trustee with optional survivorship clause) Your questions answered. What is a trust? What is a Flexible Trust? Flexible Trust (Settl as trustee with optioal survivship clause) Your questios aswered Uderstadig trusts ad their implicatios ca be pretty complicated. You should always get advice from your legal adviser

More information

auction a guide to selling at Residential

auction a guide to selling at Residential Residetial a guide to sellig at auctio Allsop is the market leader for residetial ad commercial auctios i the UK Aually sells up to 700 millio of property at auctio Holds at least seve residetial ad six

More information

Trading the randomness - Designing an optimal trading strategy under a drifted random walk price model

Trading the randomness - Designing an optimal trading strategy under a drifted random walk price model Tradig the radomess - Desigig a optimal tradig strategy uder a drifted radom walk price model Yuao Wu Math 20 Project Paper Professor Zachary Hamaker Abstract: I this paper the author iteds to explore

More information

Retirement is a term that means something different to everyone, with the definition

Retirement is a term that means something different to everyone, with the definition Fiacial Toolkit Retiremet is a term that meas somethig differet to everyoe, with the defiitio largely depedet o a perso s age, career status, bak accout, family makeup, ad other factors. While the meas

More information

Terminology for Bonds and Loans

Terminology for Bonds and Loans ³ ² ± Termiology for Bods ad Loas Pricipal give to borrower whe loa is made Simple loa: pricipal plus iterest repaid at oe date Fixed-paymet loa: series of (ofte equal) repaymets Bod is issued at some

More information

Opportunity. Let us help you grow your business Sales Strategy Guide. Group Long-Term Care Insurance GLTC-7102 1/09

Opportunity. Let us help you grow your business Sales Strategy Guide. Group Long-Term Care Insurance GLTC-7102 1/09 Opportuity Let us help you grow your busiess Sales Strategy Guide GLTC-7102 1/09 Group Log-Term Care Isurace Log-Term Care Isurace This could be your ext great opportuity Log-term care isurace (LTCI) is

More information

CCH CRM Books Online Software Fee Protection Consultancy Advice Lines CPD Books Online Software Fee Protection Consultancy Advice Lines CPD

CCH CRM Books Online Software Fee Protection Consultancy Advice Lines CPD Books Online Software Fee Protection Consultancy Advice Lines CPD Books Olie Software Fee Fee Protectio Cosultacy Advice Advice Lies Lies CPD CPD facig today s challeges As a accoutacy practice, maagig relatioships with our cliets has to be at the heart of everythig

More information

FIRST AID AT WORK. What is First Aid? Why is First Aid Important? What the law says. Benefits of First Aid WSPS.CA

FIRST AID AT WORK. What is First Aid? Why is First Aid Important? What the law says. Benefits of First Aid WSPS.CA FIRST AID AT WORK What is First Aid? First aid is the immediate care give to a perso who is ijured or who suddely becomes ill. It ca rage from cleaig a cut ad applyig a badage to helpig someoe who is chokig

More information

Present Value Tax Expenditure Estimate of Tax Assistance for Retirement Saving

Present Value Tax Expenditure Estimate of Tax Assistance for Retirement Saving Preset Value Tax Expediture Estimate of Tax Assistace for Retiremet Savig Tax Policy Brach Departmet of Fiace Jue 30, 1998 2 Preset Value Tax Expediture Estimate of Tax Assistace for Retiremet Savig This

More information

Choosing a Mortgage FIXED-RATE MORTGAGES. ADJUSTABLE-RATE MORTGAGES (ARMs)

Choosing a Mortgage FIXED-RATE MORTGAGES. ADJUSTABLE-RATE MORTGAGES (ARMs) Choosig A Mortgage Like homes, home mortgages come i all shapes ad sizes: short-term, log-term, fixed, adjustable, jumbo, balloo these are all terms that will soo be familiar to you, if they re ot already.

More information

Abstract. 1. Introduction

Abstract. 1. Introduction Optimal Tax Deferral Choices i the Presece of Chagig Tax Regimes Terrace Jalbert (E-mail: jalbert@hawaii.edu), Uiversity of Hawaii at Hilo Eric Rask (E-mail: rask@hawaii.edu) Uiversity of Hawaii at Hilo

More information