Risk Management: Future career and lifestyle

Risk Management: Future career and lifestyle

You will create an imaginary person (or future yourself), and you will work as a personal financial counselor for the person. The final paper will be a professional-quality brochure to your client. You must use tables and figures effectively to show supporting evidence (data) of your recommendations.

Write a full report for the person for the various financial needs. You must list at least 3 problems to solve. Examples are personal/corporate tax problems, real estate, small business financing, auto insurance, home owners/renters insurance, life insurance, retirement planning, health insurance, and annuity, etc. State each problem in detail relating it with the person’s situation.

For each financial problem, your report must include (1) a table that describes the details of possible solutions, (2) a table to compare several solutions for each financial problem, and (3) supporting arguments with tables or graphs for the best solution you chose. It must be personalized advise rather than a general guide. The report should be based on associated data and actual quotes from real companies wherever possible using the exact characteristics of the client. It must clearly show the estimated monetary benefit of the recommended solution over the other options. This may require you to do some research into likely career and life paths of the fictional character and related financial earnings and risk. The evaluation will assess completeness of data, reasonableness of recommendations, effectiveness of presentation, and professionalism of the final document. You may not use financial planning software packages or commercially-marketed planning software for your report. It needs to be your own unique document. Submitting a report using a commercial product will render the project invalid.

A guide:

The goal of the project is the preparation of an Insurance Needs Assessment and Plan for yourself. The plan will comprise of a report on perceived future needs for managing risks such as automobile, homeowners, and life insurance, or retirement planning. You may also review options for health-risk management.

Project Phase 1: Develop a profile of risk management needs. This will require that you make predictions regarding how your future career and lifestyle might develop and prepare a related risk management needs assessment. The needs assessment should be shown on your proposal.

Project Phase 2: Develop a plan for yourself recommending the kinds and amounts of insurance coverage or risk management methods and justify your recommendations.

You must proofread your paper. But do not strictly rely on your computer’s spell-checker and grammar-checker; failure to do so indicates a lack of effort on your part and you can expect your grade to suffer accordingly. Papers with numerous misspelled words and grammatical mistakes will be penalized. Read over your paper – in silence and then aloud – before handing it in and make corrections as necessary. Often it is advantageous to have a friend proofread your paper for obvious errors. Handwritten corrections are preferable to uncorrected mistakes.

Use a standard 10 to 12 point (10 to 12 characters per inch) typeface. Smaller or compressed type and papers with small margins or single-spacing are hard to read. It is better to let your essay run over the recommended number of pages than to try to compress it into fewer pages.

Likewise, large type, large margins, large indentations, triple-spacing, increased leading (space between lines), increased kerning (space between letters), and any other such attempts at “padding” to increase the length of a paper are unacceptable, wasteful of trees, and will not fool your professor.

The paper must be neatly formatted, double-spaced with a one-inch margin on the top, bottom, and sides of each page. When submitting hard copy, be sure to use white paper and print out using dark ink. If it is hard to read your essay, it will also be hard to follow your argument.