Handling $1,000,000
Introduction
Imagine that you have
just inherited $1,000,000. There’s just
one catch; you must save all of it until you’re 21. With this in mind, you
should develop a savings plan.
Process
To develop this plan, you should start by
opening this Savings Plan excel. On the first worksheet
page, you should answer the following questions:
How much would you like your
investment to grow?
How much risk are you willing to take
with your investment?
How much income do you think you
will be earning in the future?
Once you have a better idea about your situation and goals, use the second
worksheet to divide your investment into three categories, as follows:
Savings (savings accounts, money
market accounts, certificates of deposit)
Bonds (federal, municipal,
corporate)
Stocks
Now that you’ve decided on how you will invest your money, in general, now
it’s time to get specific. Using the links in the Resource section, develop a specific
investment plan/portfolio. You can do this on worksheet three, four and five.
Resources
You may go to the following pages to find the information you need:
Evaluation
I’ll pay you a dollar for every excel cell completed. Email the completed
Excel files to the following address: [email protected].
Conclusion
With your $1,000,000 properly invested, not only will you be able to live a
comfortable life, you will also be able to help a needy teacher in his old age.
