1) "Don't Count Your Chickens Before They're Hatched" Explain the difference between "good debt" and "bad debt" Please explain how debt has turned many Americans into "debt slaves." How does this apply to your case, if at all? 2) Irrespective of your: Values Vision Mission Objectives Whatever choices you make, you have to accept and live with the consequences, both good and bad, of your decisions? 3) In order to get a better sense of what is best for you, it's important for you to determine what your values are, or what is most important for you. In the space to the right, rank order your values, from the most important to the least important, and explain why. Some examples of values include: Money Health Family Culture Language Friends Financial Independence Freedom Love Sex Freedom of Speech Opportunity 4) Retirement When? Your ability to retire depends on your lifestyle goals and on your financial position and your financial need Once you have determined what your monthly financial need is, you need to determine if your monthly budget (including your net worth) will offset all of your costs Once your answer to this question is a resounding "Yes!" you are ready to retire In the column to the right, explain what your monthly financial need might be where you plan to retire, and by when you believe that you will be able to retire 5) To collect your full Social Security payments, you would need to retire at 66 today However most Americans retire at 62; possibly due to illness, but, more probably, because they need the income Some analysts have divided retirement into 3 major stages: "Go Go" Years: 6270 "Slow Go" Years: 7090 "No Go" Years: 90 Do you agree, or not, with this assessment