Personal Finance Management And Investment Recommendations

Personal Finance Management Investment Recommendations The definition of personal finance is often defined as being the application of financial principles within an individual or family unit. Such application includes: budgeting, saving, spending, and assessing risks. Evidently, such financial management is of great importance. Therefore, in this paper, I will provide an overview of an individual’s personal finances by referencing their investment style and briefly stating their financial objective. In addition, I will provide some recommendations said individual should consider with the purpose of aligning their investment choices with their overall financial goal. Let’s us start off by discussing some facts that were provided by the†¦show more content†¦Now, let us calculate what his investment style will amount to if he were to continue making the same investment choices until retirement. To start off, we can see that Joe is not a risky investor; he has on ly invested in individual accounts, certificate of deposits, and his 401k. In addition, he saves an average of 10% of each paycheck (which we will assume to be $5,000 annually based on a $50,000 median household income). As noted earlier, his primary objective is to retire on annual income of $50,000. We can assume then that his goal is to save approximately $1,250,000 . Therefore, if Joe continues to invest $5,000 annually ($416.67 monthly) into his saving account for the next 25 years, his investment, assuming a current balance of $5,000 compounded daily at 0.01% (as currently being offered by WellsFargo), will amount to about $130,170 . Now, Joe has also invested in certificate of deposits (CDs). He reported as simply having been reinvesting his original $5,000 for the past six years. Assuming a stated 0.30% interest rate on a two year CD with daily compounding, his $5,000 investment is now worth about $5,091 . However, he seeks to reinvest this until retirement. Performing similar calculations, we obtain a grand total of $5,488 . This is what his CD would amount to if he were to reinvest for the next 25 years. Now, let us proceed to examining his 401k contributions. Joe contributes, on

Should Drugs Be Legal - 1337 Words

3. The basic principle that the United States was founded on, liberty, is defined as â€Å"freedom from restraint.† The federal government’s policies regarding drugs are contradictory with the foundation of our country. Individuals have an inherent governance over their body, and should be allowed to use all types of drugs, no matter the effect of the drug on the human body. Marijuana, which is probably the most harmless drug to ingest, should be allowed; Heroin and methamphetamine, which are arguably the most dangerous types of drugs, should be allowed. Each individual should have the self-governance over their body, and if they so choose to ingest substances that negatively impact their health and well-being, the government should have no say in the matter. The argument that individuals should not be allowed to take drugs, even if it is hurting â€Å"their own† body, is usually countered with the health of society and the impact of other individuals. The argum ent that drugs should remain illegal because of the impact on society and other individuals is founded on weak logic. Take this example as a case study: a father gets high on methamphetamine, loses control, and beats his wife. The father goes to jail on controlled substances charges and domestic battery. Replace methamphetamine with alcohol in the story however, and the father only receives a domestic battery charge. The fact of the matter is simple: individuals who commit crimes should be held accountable for their crimes,Show MoreRelatedShould Drugs Be Legal?1604 Words   |  7 PagesDrugs are a substance that can either enhance someone s abilities or completely diminish them. Certain drugs, or commonly referred to as pharmaceutical drugs, are legal because over time people have realized that there is a cure for their temporary pain; although, arguably some have negative side effects worse than the original diagnosis. But there still is a dispute on certain illegal drugs because while some people prefer the outcome of having it legal, others strongly do not. Should their opinionRead MorePerformance Drugs Should Not Be Legal1498 Words   |  6 PagesPerformance Drugs Should not be Legal The Center for Disease Control and Prevention did a survey on high schoolers grades 9th through 12th and found out the 4.4% to 5.7% of boys and that 1.9% to 3.8% of girls have used illegal steroids (Fernandez and Robert). High schoolers are not the only ones that take performance enhancing drugs, all sorts of athletes and even nonathletes take them. Taking performance enhancing drugs harms the human body in so many different ways like it harms the Hormonal SystemRead MoreThe Legalization Of Drugs Should Be Legal984 Words   |  4 Pages The legalization of drugs has been an issue in society for quite a long time. People who are for and against the legalization of drugs can be very opinionated in their beliefs. Often times, some of these people on both sides of the argument can even be considered extremists. These disagreements vary quite a bit across the spectrum. Milton Friedman, someone who is for the legalization of drugs, argues that A user must associate with criminals to [sic] get the drugs, and many are driven to becomeRead MoreShould All Drugs Be Legal?1925 Words   |  8 PagesDo You Choose? The list of drugs in today’s society is vast: Hydrocodone, marijuana, alcohol, morphine, LSD, aspirin, cocaine, nicotine, methamphetamine, ephedrine, even caffeine; the list goes on, and so does the debate. Should all drugs be legal? Should all drugs be illegal? There are both pros and cons if all drugs were legal or not, but first let’s start by realizing what a drug is, how they’re classified, and what the benefits would be for either condition. A drug is not a substance used onlyRead MoreDrug Testing Should Be Legal1447 Words   |  6 Pagesapplicants to take drug tests. Current public debate questions whether these tests are necessary. Support, refute, or qualify the need for implementing required drug tests for those receiving or applying for welfare. â€Å"Hi, I’m a recovering crackhead†¦ I’d like some welfare please.† From It s Always Sunny in Philadelphia Most people believe that drug testing welfare applicants and recipients is necessary and saves the government and taxpayers’ money. However, the majority do not know that drug testing costRead More Should Drugs Be Made Legal? Essay697 Words   |  3 PagesShould Drugs Be Made Legal? For several decades drugs have been one of the major problems of society. There have been escalating costs spent on the war against drugs and countless dollars spent on rehabilitation, but the problem still exists. Not only has the drug problem increased but drug related problems are on the rise. Drug abuse is a killer in our country. Some are born addicts(crack babies), while others become users. The result of drug abuse is thousands of addicts in denial. The goodRead MorePerformance Enhancing Drugs Should Be Legal1039 Words   |  5 PagesIllegal performance enhancing drugs should remain illegal they truly shatter the idea that hard work pays off, performance enhancing drugs are for cheaters, and cheaters never prosper. Performance enhancing drugs are far too easily accepted and used. Performance enhancing drugs are more prevalent, needed, and dated than many know. Athletes do not feel ashamed or the need to hide their use of performance enhancing drugs. Performance enhancing drug use is a universal thing, and using them has beenRead MoreDrug Testing Should Be Legal For Schools1582 Words   |  7 PagesDrug abuse has become a major issue in our society today and has even become a global problem that needs to be resolved. The illicit use of drugs often begins in adolescence, so it is not surprising that the idea of random drug testing in schools has become a popular response to the problem. â€Å"Adolescence represents a window of opportunity for prevention, because deterring drug use during this period is associated with a lifetime reduction in substance abuse (Goldberg, 2003). At this time there areRead MoreShould Marijuana Be Legal And Illegal Drugs?872 Words   |  4 Pages Marijuana is one of the most popularly used drugs in the world, and is growing in popularity every year because of the fact that it has great potential for medical use, is relatively harmless compared to other legal and illegal drugs, and can be used to create practical household items. It is popular with many groups as a recreational drug, but recent research has suggested that marijuana can be very useful in medical applications. It contains chemicals that affect the central nervous systemRead MorePerformance Enhancing Drugs Should Be Legal1384 Words   |  6 PagesPerformance enhancing drugs must be made legal in professional sports. Professional athletes would not be given free reign of all the PEDs available in the world, but rather a new set of rules would be issued. The rules would allow athletes to meet or exceed their maximum abilities as humans while making it safer than the modern state. If made legal the potential results of PEDs would be tested and altered appropriately to create the safest, most impactful drugs; however, in the current situation

Positive Psychology in the Workplace Free Essays

Positive Psychology in the Workplace Sandie Tharp University of Charleston English II Nada Najjar March 30th, 2013 Positive Psychology in the Workplace It has been proven that positive psychology in the workplace can improve and enhance workplace satisfaction because employees are more confident and are better able to manage stress and adversity. Employees that are happier with their work environment are typically more motivated and are more likely to pursue growth and development. Job satisfaction is an engine that drives organizations to success and keeps turnover rate to a minimum. We will write a custom essay sample on Positive Psychology in the Workplace or any similar topic only for you Order Now An article from Harvard Business Review states that â€Å"a decade of research proves that happiness raises nearly every business and educational outcome: raising sales by 37%, productivity by 31%, and accuracy on tasks by 19%, as well as a myriad of health and quality of life improvements† (2011, Archor). Additionally, the author Archor asks if there is anything that a company can do to affect employee happiness and should a company invest resources into happiness. One avenue to happiness is using training as a tool that can be used to help employees to learn to manage stress. The first step is explaining the goal of the organization and how the employee contributes to that goal. Clear goals and expectations set out the mile post marking the marathon, by having clearly marked points of achievement for individuals or teams giving them a clear map to their success. It’s the manager’s responsibility to verify the goals of the team members, identify the common goal, and verify that they are in alignment with the organization goals. The King James Version of the Bible states â€Å"train up a child in the way he should go: and when he is old, he will not depart from it† (Proverbs. 2:6- King James Version). On the job training is the adult equivalent to raising a child. Putting subordinates on the path of success by providing the focus of the organizational instead of having the employee assuming or guessing about what to do causing stress and uncertainty. The economics of happiness in the workplace means that happy employees can help achieve organizational goals more easily because they are ready to give their best. Companies like Google and DreamWorks empower employees to use creative freedom in every day decision making. Google was a company that had to come up with a quick plan to reduce the turnover rate of their women employees because the turnover rate was affecting Google’s bottom line. In response, Google implemented a 5 month paid maternity plan, which gave new mothers the ability to take all the time upfront or to divide the time as needed. This new incentive plan reduced turnover by 50 percent among women and cost the firm no more than hiring a new employee. Google’s President Laszlo Bock, states â€Å"that if you factor in the savings in recruitment costs, granting mothers five months of leave doesn’t cost Google any more money† (2013,Manjool). The new maternity policy that Google has implemented exemplifies why Google has become one of the best employers in the world, taking a major cause of employee turnover from a crippling weakness to a world class strength. Carolinas Healthcare is a system that contains 32 affiliated hospitals in North and South Carolina and is one of the leading healthcare systems in the southeast; Carolinas Healthcare employs over 44,000 employees. Managing such a large number of employees would be a challenge for any organization, but CHS has stepped up to the plate and has met that challenge and is leading the way for positive work environment. During a recent employee survey conducted by Morehead and Associates, CHS ranked in the 90th percentile in the national ranking of employee satisfaction. Carolinas Healthcare System already has a reputation of being â€Å"An Employer of Choice,† recognized by the JD Power and Associates in 2011† (2012,Tarwater). This recognition has helped attracted top doctors and other medical professionals from all over the world. CHS concentrates on growth and expansion which helps generate excitement throughout the organization. Carolinas HealthCare System ecognizes that the employees are its most valuable asset and is dedicated to the growth and contentment of its employees. CHS recognizes that encouraging employees to continue educational growth will result in higher functioning, more competent workforce. Currently CHS offers an educational plan that reimburses employees for covered educational expenses and flexible scheduling around educational opportunities. Like Google with its maternity benefit, CHS has recognized that employees need and desire a clear path to growth and addresses this need with the educational assistance plan. Many organizations recognize the value of multiple bottom lines beyond monetary profit. Today the focus is on providing an environment based on positive interactions, outcomes and sustainability of the workforce. Organizations have come to realize that emotional intelligence and understanding is what allows employees to create positive interactions with customers and co-workers. According to Psych Central â€Å"research has shown that employees who are fully engaged in the work they do, and who have a sense of intrinsic motivation, are likely to perform better and a have better work outcomes† (2011, Wilner). To achieve these outcomes it is up to the organization to involve the employees and allow them to uncover their individual gifts and have the independence to use them for the common goals. Allowing employees to be involved gives them accountability for the success of the organization and a sense of pride, happiness and fulfillment. Positive psychology in the workplace can improve and enhance workplace satisfaction and have a positive impact on the organization’s bottom line. Companies like Google and Carolinas Healthcare understand the importance of a positive work environment. Both have provided pathways to fulfillment, whether through providing enhancement programs or through fostering positive interaction. Firms must continually look for avenues to promote growth, fulfillment and ultimately employee satisfaction if they are continue to improve the bottom line. It has been said that cheaper isn’t better; better is better. Today a better work force is cheaper than a cheap one. By continuing to harvest the fruits of a cohesive team built over time, an organization creates synergies that have a much greater return than the firm invests to create them. References Archor, S. (2011). â€Å"The Happiness Dividend†. Retrieved from http://blogs. hbr. org/cs/2011/06/the_happiness_dividend. html Bible – King James Version (1997). Proverbs 22:6. Hendrickson Publishers: Peabody. MA. Manjool, F. (2013). â€Å"Here’s How Google Became Such A Great Place To Work. Retrieved from http://www. huffingtonpost. com/2013/01/22/working-at-google_n_2526889. html Tarwater, M. (2012). â€Å"Employee Satisfaction†. Retrieved from www. carolinashealthcare. org Wilner, J. (2011). â€Å"5 Ways Positive Psychology can Improve the Workplace†. Retrieved from http://blogs. psychcentral. com/positive-psychology/2011/11/5-ways-positive-psychology-can-improve-the-workplace/ How to cite Positive Psychology in the Workplace, Papers