One of several great disappointments faced by millions of Americans is the fact of retirement with insufficient funds to enjoy their newfound free
time. This assignment offers you the opportunity to plan for a comfortable, perhaps affluent retirement without the hard work most people believe
goes into creating wealth.
Well, perhaps you will have to do a bit of hard work. You decide. For two consecutive months this semester (eight weeks), ending no later than
November 20th, you are to prepare the following:
1.An itemized list of everything you buy. Everything! This can be accomplished by many means: a small notebook, a computer program (preferable
because organization is so much simpler), you decide. But you must record every cent you spend during a two month period.
2.Categorize your expenses (i.e. food, clothing, rent, mortgage payment, credit card finance charges, stock purchases, entertainment, ciggies, sodas
from the local vending machine, etc.).
3.At the completion of the two month time period, make a list of those things that you do not need to buy and could live without buying for say, the
next forty years. Total the monthly savings.
4.Problems: Perhaps you have expenses for items you would not want your professor, or anyone else, knowing about (alcohol, drugs, erotic videos,
etc.). Fine. You must now make two lists one for yourself and one to turn in. For those items you wish to keep private, create a category(s) such as
Incidentals or Miscellaneous. You do not have to reveal anything that makes you uncomfortable. Turn in the general list and keep the specific list
for yourself. Ultimately, this project is for your benefit, no one needs to know the details of your life without your permission.