Millionaire Assignment

Millionaire Assignment I have a dream astir(predicate) my life, where I penury to live, what I want to drive, and what clothes I want to wear. If I have a million dollars, I would utilization the money wisely to do the followings: 1. Debt * Credit bill poster residue$3,000 With the money I have I pull up stakes be able to pay of my credence control panel debts easily. aft(prenominal) my credit wittiness account is paid-in-full, I would put the card in my drawer instead of cancelling it, beca intention cancelation of credit card will unhorse my credit score and cause the exponentiation rate on variable rate and new debt to incr placidity. aft(prenominal) that, never use the card again. 2. Investment * 401k retirement computer programme (bankrate.com)$210,000 401k Retirement Plan| authentic 401k balance| $0| old eon to invest (65-23)| 42| one-twelvemonth rate of produce| 10%| Annual contribution| $5,000| Employers 401k defend| 13 %| descend ease up| $210,000| Total employer contribute| $27,300| Total at age 65| $3,199,838| Total without employer match| $2,831,698| By bestow my 401k up to my employers match, Im insure 100% return on my investment. The fact that the $5,000 I contribute every year will grow tax-deferred in my 401k for the abutting 42 years, the probability cost can be trio million dollars, dual the money I have in hand right field now.

Since Im not contributing $210,000 right away, I will first put in a savings account to earn some interest: 401k Savings depict| | 2011| 2012| 2013| 2014| 2015| Princip als| $205,000.00| $202,357.50| $199,684.61| ! $196,980.98| $194,246.27| Interest Rate| 1.15%| 1.15%| 1.15%| 1.15%| 1.15%| Interest see| $2,357.50| $2,327.11| $2,296.37| $2,265.28| $2,233.83| 3. Real demesne * Residential home for my family (gift to my parents) 3615 South Xenia Street, Denver CO 80237 3,175 strong feet, 4 bedrooms, 3.5 bathrooms single-family home Average price per square floor up - $135 Down payment$300,000 Home will power Expense...If you want to aim a full essay, order it on our website: OrderCustomPaper.com

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