Retirement And Estate Planning

Six discussion questions. The textbook used is Personal Finance with connect by Kapoor, J., Dlabay, L., Hughes, R., & Hart, M. (2020).

DQ1: Money is put into risky investments that turn sour, and everything is lost. In the end, there is nothing left to pass on to one’s children. What do you think the point is here?

DQ2: What do you think about this new movement regarding early retirement? It is called F.I.R.E. (Financial Independence Retire Early). Is this something would that would work for you or someone you know?

https://www.wsj.com/articles/financial-independence-retire-early-not-so-fast-01546830127

DQ3: I’m going to give you the link so you can read the full article or just the abstract. What do you think about this research?
https://www.sciencedirect.com/science/article/abs/pii/S1544612322004093

DQ4: I agree that people who donate often feel better about themselves and their financial security. Giving back to those in need is essential not only for the world but for individual communities. There are a lot of local shelters that accept donations that offer tax breaks or benefits on donations. I donate to a local animal shelter every 3 months which offers small tax breaks for donations made to the shelter. It not only helps the community, but it helps you as well.

DQ5: This biblical passage is straightforward, but it is profound and conveys much more than it states. At work, I assist homeless veterans with substance abuse problems. In numerous instances, I have given them my own apparel and offered advice to those in need. I enjoy helping and supporting those in need without expecting anything in return. I enjoy helping those in need because I have been in their shoes, and I strive to demonstrate that I am there for them and want them to succeed. I have always believed that no veteran in the United States should be without food or shelter. I work with a large number of wartime combat veterans who have sacrificed everything for their country but have not been provided with the means to survive. I do my best to assist them in achieving their life objectives and maintaining their sobriety. The plan for my personal finances is to save more than I intend to expend. This year, I plan to save the majority of my earnings and only spend money on necessities. I have learned that saving money is simpler than I once believed.

DQ6: I come from a family of givers as giving was taught to me at an early age. I have been blessed to be the one in my family who helps everyone. I have given to others even when I really did not have it to give. I have paid family members bills when my bills were due. Each time I give, my heart rejoices. Yes, there have been many times when I should have said no, but if I had I would have missed out on my blessing. The Bible teaches us in 2 Corinthians 9:7 that God loves a cheerful giver. The concept of giving is reiterated in Luke 6:38 when it is promised that if you give it shall be given back to you. The verse goes on to say what ever amount you give shall be given to you again, and this time in excess. Think about a glass that is full but keeps getting poured into. The glass, although full keeps receiving water to where it runs over. This is how God blesses agiver. Advantages of consistent giving include tax breaks and creating a legacy for your family.

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