CASE STUDY 2

Order Description Success Tips for BUSI 352 – Financial and Retirement Planning Welcome to BUSI 352, Financial and Retirement Planning. The course is designed to give an overview of the financial planning process with specific emphasis on retirement planning. The information you learn will shed light on what you should do to manage your personal finances, as well as, teach you the knowledge needed by someone pursuing a career as a financial planner. This course is one of the five needed to satisfy the requirements of the Certified Financial Planner® (CFP®) program. The CFP® is awarded by the Certified Financial Planner® Board of Standards and is a designation requiring the same level of educational rigor as the Certified Public Accountant (CPA) designation does for accountants and passing the State Bar Exam requires for attorneys. With this being said, this is not an easy course. Please complete the required readings in the syllabus and try not to get behind. The course is fast paced and presents a lot of information. You Need the Textbook I’ve had students in the past think they will wait to see if they need the textbook. You will need the textbook to successfully complete this course. To my knowledge, it is not downloadable from any source. Order it early and start reading. You Need a Financial Calculator If you were to pursue a career as a financial planner, you certainly would not solve these problems using Excel or long hand. For those intending to take the CFP® exam, the only device you are allowed to use is a non-programmable financial calculator. Discussion Board Assignments BUSI 352 has a combination of Discussion Board assignments and Case Studies. The Discussion Board assignments have 2 parts: your initial posts which are due on Mondays one week and your response to another student's post that are due on the following Monday. Your initial post is worth 55 points and the reply is worth 30 points. Please make your initial post on time. No points will be given for late initial posts. Everyone has to reply to someone else's comments and late initial posts put others at a disadvantage to make their replies. The rubric for the Discussion Boards is in the Course Content link. Make sure you meet all the requirements for both the initial and reply posts. A common mistake students make is not citing an outside article in the reply post. Do not cite the textbook on initial or reply posts as your only source. The object here is to research information outside the course materials. If you have a situation that will cause you to be late on an assignment, please contact me ahead of time and if the situation warrants, an extension can be worked out. I understand that life happens with people getting sick, family members issues, and unexpected work requirements. I am compassionate to these situations; however, this is a course about planning and poor planning on your part will receive a commensurate grade. Communicate early! Case Study Assignments Please write your Case Study as a narrative as though you are speaking to the clients. Each case study has specific questions to address and these are best put into separate paragraphs that include the question being addressed. Calculations to support your answer/recommendation can be put in an appendix to the paper. Please show all your work (see below). Read and follow the Rubric for the Case Studies. This is how it will be graded. Case Study 1 is worth 50 points and Case Study 2 is 70 points. Time Value of Money Calculations Study Chapter 7 well. You will need to be able to use these calculations proficiently throughout the course. This chapter give you button-by-button instructions on how to solve each type of problem on the Hewlett Packard 10bII and HP 12C financial calculators. Additional help is available by searching “HP 10BII” on YouTube and selecting one of the many tutorials. Showing Your Work for Case Study Assignments Please show your work when completing the Case Study assignments. If I can see your work is on the right track, but you ended with the wrong answer, I can give partial credit. If you simply give me a wrong answer, you get no credit for the effort. The best method to solve these problems is to use a financial calculator. The book gives examples in Chapter 7 on how to use the Hewlett Packard 10bII and HP 12C financial calculators to solve problems. I strongly recommend using this calculator and keeping its User Guide handy. If you do not have the user guide, let me know and I will email it to you. When showing your work on assignments, use a format similar to the following: N = 12, I/Y = 6, PV = -25000, Solving for FV = 50304.91 Be mindful of using the +/- signs on your inputs. As a general rule, money you put into a financial transaction (i.e. initial deposits, periodic contributions, etc.) is input with a negative sign (-). Money you will be receiving (i.e. periodic payments) will have a positive (+) sign. Many answers will be a percentage. Percentage answers are properly notated by carrying them out to two decimal places (e.g., 43.25%, 39.00%, 12.40%). If you simply round off your answer to the nearest whole number, it will be wrong. The difference between average annual returns of 8.00% and 8.45% over 20 years on $10,000 is $46,609.57 and $50,651.36 respectively. Quizzes and Exams Each Quiz consists of 15 questions created from a bank of test questions. Each quiz is different for each student and different if taken more than once. Exams are 75 questions and constructed the same as quizzes. Quizzes are worth 30 points and Exams 150 points. If you take the test and are not happy with the result, you can take it again to try and get a better score. You must complete the retake before the assignment deadline. If you get an answer wrong that you feel is correct, please send me an email that states the question, the answer you believe is correct, and a reference in the textbook (including page number in the upper right-hand corener) for your correct answer. I will review your test, and if your answer is correct, I will adjust your score accordingly. When I make corrections to the test bank, it adjusts the score for everyone's test that had that question. It is possible for someone who got the question correct by selecting a wrong answer, to get a lower score when the question is corrected. Final Thoughts It is my desire to have you succeed in this course. Do not hesitate to communicate early and often if you have questions or a situation that impedes you from completing an assignment. Finally, I would like to believe that all students know Jesus Christ as their Lord and Savior, but I know this is not true. The greatest decision I've made in my life was accepting Jesus as my Lord and Savior. If you do not know Him this way and would like to find out why I do, please contact me. I will be happy to share how He has blessed my life and given me peace through knowing Him. Knowing Jesus is a blessing, not a burden. Jesus said in Matthew 11:30, "my yoke is easy, and my burden is light." Take the easy road and come to know Him. May our Lord bless you in your studies.