Can I survive the fictional “real world”?In this project, we will discover what it cost to live in metro Vancouver and how to manage your finances. We will assume that your wonderful parents have paid...




Can I survive the fictional “real world”?




In this project, we will discover what it cost to live in metro Vancouver and how to manage your finances. We will assume that your wonderful parents have paid for your post education of your choice, and you have zero debt. (Most students will have 10000 to 25000 dollars student loan debt) This project is designed to be open ended which means the more details you choose to put in, the better your grade will be.








Part I: Investment options




Find and briefly describe a type of investment options you can use for the following types of investments. You would need at least one actual example from financial institutions for each type of investments.




1. Short term investments (3month – 2 years)




2. Medium term investments (2 years – 6 years)




3. Long term Investments (10+)








Part II: Rent or buy?




You want to live in Langley for the next 10 years. Should you buy or rent?




1. Find a property listing from Zolo.ca or any real-estate test




2. Find a similar property that is for rent at Rental.ca or any type of renting websites




You will decide whether you should buy or rent. Think about the cost of owning a house and opportunity cost of buying a house. For example, if your mortgage payment is higher than the rent, then renters could potentially invest the difference and the down payment they didn’t have to pay. There are quite a few parameters to consider, the more detailed you can get the better.








Part III: Budgeting




1. Research your yearly salary in the job of your choice




2. Research the monthly expenses you might expect




3. Create a savings goal (this could be a down payment for a place to live)




4. Use one of the investment options in Part I and calculate how long you will be able to reach that goal. If it is too long, how can you adjust your lifestyle?

Jan 21, 2023
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