Name:
Period
Requirements:
10 Year Plan Project
Checklist and Rubric
Suggested Resources:
AP Economics
Mr. Cox
Completed Possible Points
(√)
Points
Earned
Career Choice
Decide on a career you expect to have in 10
years time (if you are not sure, take an online
career aptitude test)
Provide a summary of the reasons you chose this
career
Investigate average salaries for your chosen
career
Write a professional resume which you think is
typical for your chosen career. Include
college/post-graduate degrees, entry-level
positions at real firms in the industry, a "current"
position at a real firm in the industry, and career
objective.
http://www.careerexplorer.net/aptitude.asp
http://www.funeducation.com/
2
5
http://www.bls.gov/ooh/home.htm
http://owl.english.purdue.edu/owl/resource/564/1/
http://career-advice.monster.com/resumes-coverletters/careers.aspx
2
15
Living Expenses
Housing - research typical monthly rental costs http://www.washingtonpost.com/rentals/?nid=top_rentals
for a 2 bedroom apartment in the Washington,
DC area. Include an advertisement for this
type of apartment. Summarize why you chose
this aparment (location, cost, amenities, etc.)
Auto/Transportation - research car models
which fit your tastes and income level.
Summarize your reasons for choosing this car.
Research typical interest rates for new car
loans with a 60 month term. Calculate your
monthly loan payment with a 10% down
payment on the price of the car. Research
insurance rates for this type of model car, your
age, and your neighborhood.
5
http://www.washingtonpost.com/wpdyn/content/cars/?nid=top_cars
http://www.edmunds.com/
http://www.esurance.com/
http://www.bankrate.com/auto.aspx
5
Spring
2011
Comments
Name:
Period
Requirements:
10 Year Plan Project
Checklist and Rubric
Suggested Resources:
AP Economics
Mr. Cox
Completed Possible Points
(√)
Points
Earned
Household Budget
Investigate typical consumer expenditures for
your income level.
Calculate your monthly gross income (take your
yearly salary and divide by 12)
Calculate your monthly net income after taxes
and payroll deductions(if in 10 years, you plan
on being married with kids, make sure you
include these choices in determining what your
tax amount is per month)
http://www.bls.gov/cex/home.htm
http://www.bls.gov/cex/csxann11.pdf
2
2
http://www.adp.com/tools-and-resources/calculators-andtools/payroll-calculators/salary-paycheck-calculator.aspx
(set the calculation for Virginia, input your gross salary, set the
pay frequency to "monthly," include any children as
"allowances" and/or "exemptions", enter "0" voluntary
deductions, leave all other fields blank)
5
Household Budget
Create a personal household montly spending
budget spreadsheet based on your income level
and the number of people in your household (i.e.
if in 10 years, you plan on being married with
kids, make sure you take that into consideration
when making your personal budget) Your
personal household montly spending budget
spreadsheet should include your montly net
salary minus monthly expenditures on
healthcare, food - including dining out - ,
housing, utilities, household needs, clothing,
transportation (car payment, gas, and
maintenance), and childcare (if necessary)
http://www.cnbc.com/id/26641187/
http://www.bls.gov/cex/2011/Standard/income.pdf
http://www.bls.gov/cex/home.htm
http://www.choosetosave.org/calculators/
*IMPORTANT! Your budget cannot be negative!!!!! If you
do spend more than you earn you have to go back and choose a
cheaper apartment and/or car and you have to cut some of your
other household costs (e.g. eating out less, choosing a cheaper
but less comprehensive health care plan, etc.)
15
Spring
2011
Comments
Name:
Period
Requirements:
10 Year Plan Project
Checklist and Rubric
Suggested Resources:
AP Economics
Mr. Cox
Completed Possible Points
(√)
Points
Earned
Income Taxes
Obtain or download a 1040-EZ tax return form. http://www.irs.gov/pub/irs-pdf/f1040ez.pdf?portlet=3
Using your annual gross salary numbers and
http://www.irs.gov/formspubs/index.html
your monthly tax and withholding figures (take
these amounts and multiply by 12 to get your
annual tax and Social Security withholding
amounts), complete the 1040-EZ form
according to the form instructions.
10
Homeownership
Assume you are looking to move out of your
http://www.zillow.com/
apartment and purchase a house. Reasearch the http://www.choosetosave.org/calculators/#mortgage
local Washington DC area housing market.
http://www.bankrate.com/mortgage.aspx
Choose a house based on your preferences,
location, and affordability. Research 30 year
mortgate interest rates. Calculate your monthly
mortgate and interest payment assuming a 30
year loan with a 10% down payment on the price
of the loan. Determine if this payment will fit
into your monthly household budget. Provide an
advertisement or real estate listing showing the
house you chose. Summarize why you chose
this house
10
Savings
Research interest rates on savings accounts,
money market accounts, and certificate of
deposits (CD's). Assume you will save 10% of
your net income each month. How does this
change your household budget? How long will
it take to double your money?
http://www.bankrate.com/individual-retirement-accounts.aspx
http://www.wiserwomen.org/index.php?id=142&page=Saving
_&_Investing
5
Spring
2011
Comments
Name:
Period
Requirements:
10 Year Plan Project
Checklist and Rubric
Suggested Resources:
AP Economics
Mr. Cox
Completed Possible Points
(√)
Points
Earned
Retirement
Research retirement savings plans (individual
retirement accounts - IRAs -, 401k plans). Which
plan is best for you? Assuming you invest 10% of
your net income each month, what is the best way
to invest your money to ensure you have enough to
live on in retirement?
http://www.bankrate.com/individual-retirement-accounts.aspx
http://www.choosetosave.org/ballpark/
http://www.wiserwomen.org/index.php?id=142&page=Saving
_&_Investing
5
Research Paper Requirement
Typed, double-spaced, 12 point Times New
Roman font
Includes a cover page with your name, class
period, and date of submission
Paper is clearly organized and well-written
5
2
Total:
5
100
Spring
2011
Comments