Business 10th Edition by Ferrell,Geoffrey Hirt,Linda Ferrell

Exercise 6

Managing Money
Background
You have just graduated from college and have received an offer for your dream job (annual salary: $35,000). This premium salary is a reward for your hard work, perseverance, and good grades. It is also a reward for the social skills you developed in college doing service work as a tutor for high school students and interacting with the business community as the program chairman of the college business fraternity, Delta Sigma Pi. You are engaged and plan to be married this summer. You and your spouse will have a joint income of $60,000, and the two of you are trying to decide the best way to manage your money.
Task
Research available financial service institutions in your area, and answer the following questions.
1. What kinds of institutions and services can you use to help manage your money?
2. Do you want a full service financial organization that can take care of your banking, insurance, and investing needs or do you want to spread your business among individual specialists? Why have you made this choice?
3. What retirement alternatives do you have?