Financial management

Financial management applies to personal as well as business financial decisions. In this week's assignment, you will lay the groundwork for creating a personal retirement plan in Week 9. This week’s analysis requires you to apply what you have learned using the textbook, as well as additional Internet and SU Library research. Also, please refer to the assignments in Weeks 2 and 4, in which you evaluated stocks and bonds as investment options and applied the concept of present value. Scenario For this assignment, you take on the role of a personal retirement planner who is preparing a memo for your client. In the memo, explain to the client the financial and risk considerations that go into planning for retirement. Instructions Write a 4–5 page paper using the following instructions: Describe the importance of factors to consider when developing a retirement plan. These will include age, marital status, number of dependents, health, life expectancy, and other sources of income such as social security and pensions. Examine the relationship between risk and return and its impact on decisions about saving for retirement. Provide examples of the relationship. Explain how risk factors (such as age and personal risk tolerance) impact the allocation of assets included in a retirement plan. Support your explanation with examples of how asset allocation changes as the risk factors change.