Grand Bargain - Details and Explanation

The term grand bargain is used to describe a potential agreement between President Barack Obama and congressional leaders in late 2012 on how to curb spending and reduce the national debt while avoiding steep automatic spending cuts known as sequestration or the fiscal cliff set to take place the following year to some of the most important programs in the United States. The idea of a grand bargain had been around since 2011 but the real potential emerged following the 2012 presidential election, in which voters returned many of the same leaders to Washington, including Obama and some of his fiercest critics in Congress. The looming fiscal crisis combined with a polarized House and Senate provided high drama in the final weeks of 2012 as lawmakers worked to avoid the sequestration cuts. Details of the Grand Bargain The term grand bargain was used because it would be a bipartisan agreement between the Democratic president and Republican leaders in the House of Representatives, who had been gridlocked on policy proposals during his first term in the White House. Among the programs that could be targeted for substantial cuts in a grand bargain are the so-called entitlement programs: Medicare, Medicaid and Social Security. Democrats who resisted such cuts would agree to them if Republicans, in return, sign off on higher taxes on certain high-income wage-earners much like the Buffett Rule would have imposed. History of the Grand Bargain The grand bargain on debt reduction first emerged during Obamas first term in the White House. But negotiations over the details of such a plan unraveled in the summer of 2011 and never began in earnest until after the 2012 presidential election. The disagreements in the first round of negotiations reportedly were the insistence by Obama and the Democrats on a certain level of new tax revenue. Republicans, particularly more conservative members of Congress, were said to have vigorously opposed raising taxes beyond a certain amount, reportedly some $800 million worth of new revenue. But following Obamas re-election, House Speaker John Boehner of Ohio appeared to signal a willingness to accept higher taxes in return for cuts to entitlement programs. In order to garner Republican support for new revenues, the President must be willing to reduce spending and shore up the entitlement programs that are the primary drivers of our debt, Boehner told reporters following the election. We’re closer than anyone thinks to the critical mass needed legislatively to get tax reform done. Opposition to the Grand Bargain Many Democrats and liberals expressed skepticism over Boehners offer, and restated their opposition to cuts in Medicare, Medicaid and Social Security. They argued that Obamas decisive victory allowed him a certain mandate on maintaining the nations social programs and safety nets. They also claimed the cuts in combination with the expiration of both the Bush-era tax cuts and payroll-tax cuts in 2013 could send the country back into a recession. The liberal economic Paul Krugman, writing in The New York Times, argued that Obama should not easily accept the Republican offer of a new grand bargain: President Obama has to make a decision, almost immediately, about how to deal with continuing Republican obstruction. How far should he go in accommodating the G.O.P.’s demands? My answer is, not far at all. Mr. Obama should hang tough, declaring himself willing, if necessary, to hold his ground even at the cost of letting his opponents inflict damage on a still-shaky economy. And this is definitely no time to negotiate a grand bargain on the budget that snatches defeat from the jaws of victory.

Summary Of A Passage Of India By Quot. Forster

A Passage to India, written by E.M. Forster, is a story of human relations between the British colonists and the people of India. Dr. Aziz, a native Indian and main character in the novel, is extremely frustrated of the way others think about these two cultures together. Some may say it s the position of superiority the British hold that the Indians perceive as degrading. Throughout the novel there is a clear tension between the natives and the colonists that relate to both fictional and historical events. There are several events that occur that demonstrate this cultural division. One event, for example, is when Aziz first meets Mrs. Moore, who is an elderly Englishwoman, and after they chat for awhile, he escorts her to a club that is strictly labeled whites-only. In the mean time, the Indians are forced to stay outside as if some type of a subhuman being. It is this type of segregation that has been see in history time and time again that leads to racial tension. Its simply a prob lem of education because those who do not study history are bound to repeat it. In every culture, civilization, habitat, or locality, there is, or has been, some form of discrimination at hand. From what I ve experienced, I believe it is solely based off of change of normality. For instance, when British colonists first arrived in the New World, Native Americans had already owned the land. To the natives, this flood of immigrants was their cultural change. Had they not all been massacred and

Concept of Data Life Cycle Management †MyAssignmenthelp.com

Question: Discuss about the Concept of Data Life Cycle Management. Answer: Introduction Data management plays a significant and essential role in the companys ability to generate proper amount of revenue along with controlling the costs as well as control as well as mitigate the different kinds of risk. DM is the proper development as well as execution of different ideas as well as plans along with the policies that will help in protecting, delivering as well as enhancing the data value as well as the information assets. The company that has been taken for the data cyclemanagement is Insomnia Coffee Company. The main aim and purpose of the report will help in managing the data of the customers as this will help in managing as well as improving the customer relationships. The main purpose of the report is to help the respective organization in mitigating the different risks by establishment of proper retention of the data in order to decrease the costs of the storage. The structure of the report will include the different usages of the data life cycle and the relevance of the Data Governance in the respective organization named Insomnia Coffee Company. This will include propermanagement of the data that focuses on the defining of different data with proper security, accuracy as well as completeness. Concept of Data Life Cycle Data life cycle management is defined as the policy based approach as this will help in managing the entire flow of the data of the information system throughout the life cycle that includes from creation to the initial stage to the time when the data becomes obsolete as well as it gets deleted (Williamson 2016). DLM products help in automating the processes that are involved that includes typically organizing the data in to different tiers regarding the specified policies along with automation of the migration of data from one tier to the different tier. This includes the data that are new in nature has to be accessed more frequently and these will be stored in a faster as well as expensive storage media, on the other hand the data that are less crucial in nature are stored in a cheaper but slower media (Wamba et al. 2015). Functions of Data Management Data Governance is the proper exercise of the authority as well as control with proper shared decision making that includes planning, enforcement as well as monitoring of data. This kind of data governance is based on the management of the data assets (Sieber and Johnson 2015). Proper planning and controlling is essential as this will help in managing the entire data assets of the entire organization along with architecture of the organization. Proper development of data is essential in nature as this will help in focusing on the activities within development of the system lifecycle that includes modeling of data as well as requirements as well as analysis of the data. This will help Insomnia Coffee Company in proper analysis as well as designing of the data in proper maintenance of the databases as well as solution components that is related to the data. The data focused activities are essential in nature as this will help in enhancing proper security of the data as well as implementation of the data as well (lvarez-Moreno et al. 2014). Data Operations Management is another essential function of the DM as this helps in proper planning, control as well as support for the different structured data assets across the lifecycle of the data that starts from the creation as well as acquisition through purge as well as archival (Regg et al. 2014). Proper planning, controlling as well as support is essential in nature as this will help in maintaining proper acquisition as well as creation of the data as this will help in receiving proper solutions for the different components. Data security management is essential function as well as proper planning is required to control the different activities in order to ensure the confidentiality as well as privacy of data is maintained. This will help in preventing inappropriate as well as unauthorized access to the data along with proper change creation (Vayena et al. 2015). Quality of the data management is essential in nature as this will apply the techniques to properly measure, assess, ensure and improve the fitness of the data that will be necessary for the use (Lee, Zhu and Jeffery 2017). Content and document management is essential in nature as this will help in storing the data that are found within the electronic files as well as physical records such as audio, video as well as graphics and images. Meta Data management is essential in nature as well as this will help in enabling proper as well as easy access of data that are highly integrated as well as integrated meta data. From the above, it can be analyzed that the above functions are the ones that appear to be more technical in nature as this will help in proper maintenance of the data architecture management and this will help in analyzing the proper design for managing as well as mitigating the different kinds of risk in the organization along with proper data management. With proper implementation of the strategies, this is essential in nature to mitigate as well as litigate the different kinds of risk from the management of the organization as this will help in maintaining proper databases pf the organization with proper planning as well as controlling of different data related components based on the solutions as well. Importance of the Data Management in Insomnia Coffee Company The data management is essential in nature as this helps in maintaining proper secrecy and maintenance of data that are required for the respective company as well. The DM will help Insomnia Coffee Company in determining the relevance of the data and to understand about the DM that is essential for the enterprise perspective view. Since the data exists in different forms, this includes different information that is generally found in business documents that includes invoices as well as contracts along with customer data. This will help in analyzing the financial data along with intellectual property as well. The respective organization Insomnia Coffee Company will help in understanding the data that will be used by them in performing a proper system wide operation that will be required for the regulatory authorities. Proper identification of the critical data is essential to be done by Insomnia Coffee Company as this will help them in analyzing the element that will help in understanding the requirements of data (Cox and Pinfield 2014). Master data management is the proper discipline that helps in striving for managing the data of the customers as this will help in improving the performance of maintaining proper relationship among the customers. With proper expansion of the storage of data, the requirements of the data have helped in increasing the different storage requirements along with the investments in the equipments. There are different costs that are involved in the data management of lifecycle that includes proper consumption of the power as well as the different requirements of cooling along with proper installation as well as cabling for proper recovery of the data (Wilkinson et al. 2016). These are the different costs that are required for the increase in the expenses related to occupancy as well as payroll expenses. It is essential that proper data management is essential in nature as this will help the different organizations in mitigating the different kinds of risk as this includes proper establishment of the formal retention policy of the data as this will help in decreasing the cost of the storage as well as the reducing the cost of litigation as well. The proper management of data helps in focusing on element of the data as well as the structure of the data, storage of the data along with the element of the data as well (Alexandrov et al. 2014). Proper management of the different information is essential in nature as well as this will help in understanding the accuracy, security as well as completeness and timeliness of the data along with different pieces of the data that are required for the data life cycle management. These are the different kinds of concern wherein the different accountants are properly trained to properly assess as well as manage the different tasks of the entire organization (Zhang et al. 2017). Data Governance Data Governance is defined as the exercise of the authority control as well as shared decision making process in the organization over the proper management of the data assets. This is the high level planning as well as controlling of data over the DM. Objectives of DG in Insomnia Coffee Company To enable proper decision making To reduce the operational friction To properly protect the requirements of the stakeholders To ensure proper transparency of the data as well as processes To properly build different standards as well as repeatable processes To reduce the costs along with increase the effectiveness through proper coordination of different efforts (Delen and Demirkan 2013) Functions of DG in Insomnia Coffee Company Proper planning of data management as this helps in identifying the most strategic needs of the enterprise and this will help in development of the strategy of data. This will help in identifying the data stewards as this will help Insomnia Coffee Company in developing as well as review data policies as well as standards along with the procedures. Proper data management supervision as well as control is essential as well as this will help Insomnia Coffee Company in supervising the DM professional staff as well as organizations. This will help in overseeing the data management projects as well as services. The DG will help in managing along with resolving the data as this will help in ensuring the regulatory compliance. DG will help in communicating along with promoting the value of the data assets (Cao and Lumineau 2015). Principles of Data Governance in Insomnia Coffee Company Proper integrity is essential as the participants of DG will help in discussing the different constraints as well as the impacts of the decisions that are related to data processes (Ayuso et al. 2014) Proper transparency is essential as well as this will help in exhibiting transparency in Insomnia Coffee Company. This will help in clearing the decisions relate to the decision making along with controls were introduced in the entire process Proper accountability is essential in nature as well as this will help the participants in Insomnia Coffee Company for the different decisions related to the cross cultural decisions, controls as well as processes. Conclusion Therefore, it can be inferred that data life cycle management is essential in the respective organization named Insomnia Coffee Company. Data management as well as data governance requires proper planning as well as control over the different data in the organization as this will help in reducing the different operational friction as well as proper building of standards and ensure transparency in the different processes. References Alexandrov, A., Bergmann, R., Ewen, S., Freytag, J.C., Hueske, F., Heise, A., Kao, O., Leich, M., Leser, U., Markl, V. and Naumann, F., 2014. The stratosphere platform for big data analytics.The VLDB Journal,23(6), pp.939-964. lvarez-Moreno, M., De Graaf, C., Lopez, N., Maseras, F., Poblet, J.M. and Bo, C., 2014. Managing the computational chemistry big data problem: The ioChem-BD platform.Journal of chemical information and modeling,55(1), pp.95-103. Ayuso, S., Rodrguez, M.A., Garca-Castro, R. and Ario, M.A., 2014. Maximizing stakeholders interests: An empirical analysis of the stakeholder approach to corporate governance.Business society,53(3), pp.414-439. Cao, Z. and Lumineau, F., 2015. Revisiting the interplay between contractual and relational governance: A qualitative and meta-analytic investigation.Journal of Operations Management,33, pp.15-42. Cox, A.M. and Pinfield, S., 2014. Research data management and libraries: Current activities and future priorities.Journal of Librarianship and Information Science,46(4), pp.299-316. Delen, D. and Demirkan, H., 2013. Data, information and analytics as services. Lee, S.U., Zhu, L. and Jeffery, R., 2017. Data Governance for Platform Ecosystems: Critical Factors and the State of Practice.arXiv preprint arXiv:1705.03509. Regg, J., Gries, C., Bond-Lamberty, B., Bowen, G.J., Felzer, B.S., McIntyre, N.E., Soranno, P.A., Vanderbilt, K.L. and Weathers, K.C., 2014. Completing the data life cycle: using information management in macrosystems ecology research.Frontiers in Ecology and the Environment,12(1), pp.24-30. Sieber, R.E. and Johnson, P.A., 2015. Civic open data at a crossroads: Dominant models and current challenges.Government information quarterly,32(3), pp.308-315. Vayena, E., Salath, M., Madoff, L.C. and Brownstein, J.S., 2015. Ethical challenges of big data in public health.PLoS computational biology,11(2), p.e1003904. Wamba, S.F., Akter, S., Edwards, A., Chopin, G. and Gnanzou, D., 2015. How big datacan make big impact: Findings from a systematic review and a longitudinal case study.International Journal of Production Economics,165, pp.234-246. Wilkinson, M.D., Dumontier, M., Aalbersberg, I.J., Appleton, G., Axton, M., Baak, A., Blomberg, N., Boiten, J.W., da Silva Santos, L.B., Bourne, P.E. and Bouwman, J., 2016. The FAIR Guiding Principles for scientific data management and stewardship.Scientific data,3, p.160018. Williamson, B., 2016. Digital education governance: data visualization, predictive analytics, and real-timepolicy instruments.Journal of Education Policy,31(2), pp.123-141. Zhang, Y., Qiu, M., Tsai, C.W., Hassan, M.M. and Alamri, A., 2017. Health-CPS: Healthcare cyber-physical system assisted by cloud and big data.IEEE Systems Journal,11(1), pp.88-95.

Financial Status of a Real Individual-Free-Sample for Students

Question: Research the Financial Status of a real Individual and to then prepare a Comprehensive Financial Plan that suits their Circumstances. Answer: Introduction Like any strategy, this planning of the financial aspects requires following a method, with these general steps: Establish the goals of the organization, in general or by areas, and define in what order they should be achieved.Define dates for the achievement of the proposed objectives.Prepare a budget that identifies the financial instruments to be used, for what period and for what purpose to obtain the results sought.Manage the budget and measure the results to follow the route plan and make adjustments when necessary. Main Benefits of Financial Planning This planning is the basis of business growth, as it guides how resources will be used to achieve expansion, the development of new products or services, or increased sales. With optimal financial planning, the organization will anticipate many anticipated risks by using tools that allow it to prepare for the changes, and seek funding when needed (Billingsley, Gitman and Joehnk, n.d.). It is also a way of predicting the future performance of the company through sales and income projections, valuation of assets and liabilities, and to develop strategies to improve cash flow in times that are expected to be difficult. Risk Assessment and Insurance Table Risk Probability of loss Size of Loss( wks) Risk Exposure Addition of Unknown features 35% 8 2.8 Overly optimistic schedule 15% 5 2.25 New programming tools and savings 25% 15 2.5 Additional requirements 20% 20 2.5 Project approval 18% 15 0.75 Facilities not ready on time 20-25% 5 0.2-0.4 Project approval 10% 10 0.5 Insurance risk 10% 15 1.5 General risk 5% 5 0.75 Medium- and long-term planning should be a guide for purchasing equipment and inputs based on expected demand, but it will also serve as a valuable document when looking for investors or financing, as it details the real prospects of the business. Evaluate the efficiency of financial planning Evaluate the efficiency of planning It is always necessary, rigorously, to evaluate the results of planning. This implies the constant formulation of projections that take as basis the norms, the performance of a process of feedback and its later adjustment.It is necessary to use several types of budgets per area of an organization. In order for a good financial plan to exist, there needs to be a strategy (Ho and Robinson, 2012). The quality of the plans, programs and financial budgets will always be conditioned to the form and elements used in such planning. Elements to Consider in Financial Planning Financial plans cannot be perfect, since they are based on projections of the behavior of the organization to various variables, so it is necessary to constantly evaluate and adjust them when necessary. Clients Need Analysis The important thing is to consider all aspects that can influence business performance, both positively and negatively, as the company must be prepared to face, either a pick-up in demand and good management of additional revenues, sales and their impact on cash flow (Ho and Robinson, 2012). Planning how the organization's operations will be financed during a difficult time will be the key to its survival, hence the importance of having the finances in order to access funding sources. A notable factor is not losing sight of the company's overall financial landscape, getting too involved in small setbacks. Precisely from general planning must come the solution for the small stumbles that can represent a bad sales season or a shake-up of the general economy or the financial markets. Do not leave out of the forecast any variable and develop strategies for all kinds of circumstances will also better prepare the organization to face them, giving you greater chances of success in the g oals that have been established. The forecasting, management and control of the resources are the objectives of the financial planning in the company, that will guide the decision making.This will ensure that all such decisions, in all areas, lead to a common purpose and have the necessary financial backing to bring them to fruition (Swart, n.d.). No organization will grow, or get ahead of the market shakes, if you do not have planned the steps to follow in any of those situations. Improvisation can have serious consequences for any business, because it will be born of despair and will not take into account future risks. Analyzing variables, setting goals, anticipating favorable or unfavorable situations, designing budgets and strategies, measuring results and making adjustments are essential actions for good organizational performance (Swart, n.d.).They are also constant actions. You can not plan in the medium or long term, make decisions and trust that everything will go accord ing to plan. Observation of the company's behavior, of the markets and the forecast of possible risks is also an essential aspect of the work of the organization's financial planner or adviser. Do not leave loose and pre- If you want to know the advantages of financial planning in the company, we believe that the following Manual can help you a lot to sort your work. The Financial Director of the Future Key assumptions The first key assumption is the rate of return to use for the growth of the investments. A balanced portfolio uses 35% rate of return in bonds, 4% in cash. And 61% in a stock portfolio that is diverse would yield a return an 8.87%. The second assumption is to be made on the rate of inflation. Records have it that from 1975 to 2014 inflation has been on an average of 4.1%. However, inflation should be projected at 2.5% but it is important to consider the nature of the expense or income. The third assumption is the standard deviation used for investment return. A higher investment rate means that a higher standard deviation is used. A BALANCED portfolio has a standard deviation of 10.44% (LLP, Nissenbaum and Raasch, 2004). Balance sheet and Projected balance sheet Assets Amount in Dollars$ House property Cash - checking accounts 750,000 Cash - savings accounts 250000 - 120000 Certificates of deposit - Securities - stocks / bonds / mutual funds Notes contracts receivable 25000 Life insurance (cash surrender value) 10000 - Personal property (autos, jewelry, etc.) 22000 - - Real estate (market value) 120000 - Other assets (car) 30000 - - Total Assets $ 1,327,000 - Liabilities Amount in Dollars Current Debt (Credit cards, Accounts) $ 250000 - Notes payable (describe below) 27000 - Taxes payable - Real estate mortgages (describe) 750000 Other liabilities (loan ) 300000 ) Total Liabilities $ 1,327000 Net Worth $ 1,327,000 Budget/ cash flow statement INFLOWS Per month Per year INCOME Salaries, wages and commission 40000 480000 Rental income 10000 120000 Interest and dividends 200 2400 Social security benefits 300 3600 Realized capital gains 500 6000 Other income Refunds/rebates/reimbursements 0 0 Tax returns 0 0 TOTAL INFLOWS 51000 612000 OUTFLOWS income tax federal 2000 24000 savings plan 6000 72000 Charitable contributions 0 0 FINANCING ACTIVITIES Mortgage payments 1000 12000 Loan payment auto 500 6000 Other living expenses 7000 84000 Auto(insurance, fuel,service) 1000 12000 Daily living(Food,clothing,supplies) 6000 36000 Education 2500 30000 Medicare 1000 12000 Health insurance 1000 12000 Medical 300 3600 Property tax 3500 42000 Vacation and travel 0 0 Miscellaneous 5000 60000 Total Outflow 36800 441600 Net Cash flow 14200 170,400 Risk assessment Insurance Needs Finances have their origin in the completion of an economic transaction with the transfer of financial resources. This receives mainly contributions of disciplines like the economy, management, and accounting and of the quantitative methods of analysis. Finance can be defined as "the art of managing money", while financial management "refers to the tasks of the financial manager". Finances contain a set of principles, techniques and procedures, which are used to transform the information reflected in the financial statements of a company, into processed information, usable for decision making (LLP, Nissenbaum and Raasch, 2004). The cash flow of the company plays a very important role, because when it is net and positive it will indicate that the company has sufficient financing. Otherwise, it would merit additional funding. This means that cash flow is the essential element for financial forecasts, because from it the projections will be realized in order to achieve the ultimate goal or goal of any company: Tax minimization Strategies Planning and Financial Control provides the relevant aspects to be considered, as key elements in the permanent monitoring of its management and objectives to be achieved. The main tax minimization strategy is to reduce income. The higher the income, the higher the taxes paid and the lower the income the lower the taxes paid. Another way is to increase the non-taxable deductions. There is also taking advantage of tax credits and focusing attention on various credits. And lastly is increasing your withholding tax (McKeown, Kerry and Olynyk, n.d.). Investment Analysis A person who saves for the long term and does not want surprises will privilege debt instruments such as term savings accounts. Now, if the amount justifies it, and if you are willing to take a higher level of risk, could you invest your resources in a mutual fund? of medium- and long-term debt in a mutual fund of capitalization instruments? or in actions ?. In any case, nobody can tell a third party with certainty where it is better to invest, basically for two reasons: nobody knows the future nobody knows better the needs of a person than herself. The best example is the different levels of risk that people are willing to take. For those with a high risk tolerance, the most recommended instruments are capitalization, for example, stocks.The literature points out that in the long term, stocks lease more than debt instruments, but, on the other hand, the actions are riskier, so they are advisable for those who are willing to assume a probable loss of capital and not for the which, for example, are saving for the purpose of acquiring a home of their own. With the shares is involved in profitability? and business risk, instead, with debt is financed to the issuer? in exchange for an interest (Altfest, n.d.).It is always advisable to diversify the investment, if you have the resources to do so, and know the characteristics of the instruments in the market. If this is not the case, consulting with experts may be most convenient.There is always more than one option to invest.go up Aspects to consider when investing Purpose of the investment You must know the reason why you want to save or invest, or postpone your consumption today, for the future, to go on vacation or buy a car. Level of tolerated risk and desired profitability You should assess your level of tolerance to the changes associated with the price of assets v / s what you expect to gain from the investment. For example, would an investor with a low tolerated risk probably not invest in stocks? given the volatility of its price, even though this could lead to a higher return. The level of risk tolerated is a characteristic of each person and the objective of the investment. In this sense, it is relevant to know that there are instruments with different levels of risk and, therefore, different levels of associated profitability. For example, an instrument issued by the Central Bank? is less risky, but the associated return is less than other investment alternatives. Investment liquidity It is the degree of convertibility of the asset in cash without affecting its value. This variable is associated with the time at which the investment is to be withdrawn. As in the previous case, it should be kept in mind that there are instruments with different degrees of liquidity. As an example of high liquidity, we can mention the shares traded in the stock market? and that have a stock market presence, if the stock has high liquidity, the sale will probably be made at the value at which it is quoted (Altfest, n.d.). The shares of mutual funds? have been less liquid if we consider that the liquidity of these shares is related to the greater or lesser speed with which any investor can buy or sell this instrument, while maintaining the market price. Investment Deadlines It is a variable that is directly associated with the investment objective. Needs of intermediate flow It refers to the need for periodic flows or not, which has the investor. In this regard, it should be noted that there are instruments that pay for intermediate flows, others unknown and others only at the end (Examples: mortgage letters, shares, bonds zero coupon or fixed term deposit). For example, if the investor invests in shares and wants to receive cash flows, he should choose the company that contemplates a stable dividend policy. Market Access It refers to the possibility of buying or selling an instrument in the primary and secondary market. In the first one there are restrictions on the transaction, for example the sale of promissory notes by the Central Bank and in the secondary there are restrictions in amount, for example, to access the stock market, brokers require a minimum capital to the investor. Units of value and readjustment The unit in which the instrument is expressed, can be UF, IPC, US $, etc.An investor according to their requirements can choose a type of readjustment instead of another. For example, an exporter should pay in dollars, possibly want to invest in that currency to protect against changes in the exchange rate. Costs associated with investment To make certain investments, it is sometimes necessary to incur a financial cost, for example, when investing in a mutual fund, a fee must be paid to the management company and, in certain cases, a placement fee. For example, brokers, who charge commissions for the brokerage of securities. Taxation of investments It is important to analyze the tax to which the income generated by the investments are affected, as well as the tax benefits they grant.10. Guarantees and guarantees There are instruments that have specific guarantees of payment, in case the issuer can not fulfill its obligations. For example, time deposits in national or foreign currency are guaranteed by the State at 90% of their total amount, with a maximum payable cap of 108, an amount that considers all deposits held in the financial system and once in a calendar year, provided that the holder is a natural person and whether they are time deposits through registered documents or to order (LLP, Nissenbaum and Raasch, 2004). Superannuation plan In principle, a retirement plan may look the same as a pension plan, because both are a supplement to the pension, and both will allow us to live the retirement with more relief. But in reality they are two different products, with different characteristics and ways of working.By its nature: A retirement plan is actually an insurance, and is actually managed through insurance companies. Instead, a pension plan is a financial product of savings in which we make contributions that we can redeem at the time of retirement.Retirement Plan - BBVA For the ransom: The rescue is different: in the case of the retirement plan, it can be rescued at any time, provided that we meet the conditions we have agreed. If not, a penalty would be paid. For its part, the pension scheme can only be redeemed at the time of retirement, except in some exceptional cases in which it could be rescued earlier.Because of the profitability / risk ratio: As it is not a financial product, the profitability of the reti rement plan is not as high as that of the pension plan. In this respect, a plan is more attractive, but being a financial product that depends to a large extent on the progress of markets, also carries greater risk, especially in equity schemes (LLP, Nissenbaum and Raasch, 2004).Find the pension plan that best suits your savings needs: access the catalogTaxation: deduction in the Declaration of Income. Unlike the pension plan, the retirement plan is not deductible. But even if it does not distract, by redeeming the retirement plan, we will only tax the interests that the plan has generated (those that we have previously paid in installments) Superannuation plan Plan Employee contribution ( to above YMPE0% Employer contribution ( to above YMPE0% Total contribution% Governance SP Australia 6.4-6.8 12.08 18.9 Government PSSP 9.9-14 9.9-14 18.19 employer SP 6.4 6.4-6.8 12.08 Government Estate plan The assets of this individual includes Cars, rental houses, home, savings account, life insurance, investments etc. the individual would wish to distribute all these assets to his family after he dies. That is estate planningmaking a plan in advance and naming whom you want to receive the things you own after you die (LLP, Nissenbaum and Raasch, 2004). References Altfest, L. (n.d.). Personal financial planning. Billingsley, R., Gitman, L. and Joehnk, M. (n.d.). Personal financial planning. Ho, K. and Robinson, C. (2012). Personal financial planning. Concord, Ont.: Captus Press. LLP, E., Nissenbaum, M. and Raasch, B. (2004). Ernst Young's Personal Financial Planning Guide. Hoboken: John Wiley Sons. McKeown, W., Kerry, M. and Olynyk, M. (n.d.). Financial planning. Swart, N. (n.d.). Personal financial management.