FIN 333 Week 2 Assignment Calvin Seeks the Good Life: Case Problem 12.2 Ryan Lisonbee Independence University Authors Note: LisonbeeRH@gmail.com Calvin Seeks the Good Life: Case Problem 12.2 “The safe way to double your money is to fold it twice and put it in your pocket.” - Kin Hubbard, (Brainy Quotes, 2015) Calvin Jacobs is a widower that has worked hard for more than 30 years and has been overall pretty responsible with his finances. Calvin and Allie, his late wife, always tried to save money every month but their efforts hadn’t made them millionaires by any means. Calvin had well over six figures in CD’s and savings accounts that were liquid assets that were held at his bank (Smart, Gitman, & Joehnk, 2014). Calvin was even smart enough to buy a house just down the block from him and is able to rent it out. The rental income is large enough, that he is able to pay both of his mortgages.
In addition, although life is less than happy, they are ambitious for change. A $10,000 check is coming in the mail that could ultimately give them a better life. Until this check comes, however, they all have hopes and dreams of what can be done with the money. Mama’s dream of how to spend the money is the main dream, because it is the one that goes through. I don’t think Mama had too much of an education as most African American people in the 1950’s did not, because Mama uses the money to help her family and does not even think about investing it to make more.
Most people have a preconceived notion on how and what Social Security was supposed to do for all citizens. We must take control of our own retirement. Even though people do not save their money any more and rely on the government for more handouts to get by on, most citizens worked and saved their money until they passed on, they made sacrifices to enhance their future, and passed on an easier path for their children. We should not rely on living comfortably on social security because it was set up to give the people in the depression something to look forward to, and it was a supplement to the money a person saved for when he/she could no longer work. Most people have a preconceived notion on how and what Social Security
But this will entirely change if these people get a job because they can’t rely on food stamps forever. Roughly 85% of the food stamps recipients are single parent homes so it will be hard to go to your job if you have a young child. But Republicans have proposed to spend 1 billion dollars toward child care. People might say what’s the point of working is if you have food on the table. But there is a point because if people start working they can be independent.
Neuropathy prevented Ian seeing where his body was which is a petrifying feeling; literally Ian was “The Man who Lost His Body”. It took a year for Ian to stand up safely and six months to put on his sock, this sensory process was long and tedious. This documentary taught me how we are fortunate to have sensory abilities; most people take it for granted because it’s natural. It was unbelievable how Ian recovered from this illness. The doctors told him that he will be in the wheel chair for the rest of his life but he was determined to regain his strength and movement.
Another economic issue that American families face today is being underemployed. Being underemployed is when you only a have part time job(s) or you take positions that only pay minimum wage. In order to feed their families some people are turning to the use of government assistance such as food stamps (SNAP). The United States Department of Agriculture (2012), states that all people who are already receiving food assistance (food stamps) will automatically qualify for free school meals for their children. The school meals help aid the families with
In addition, it can assist those people by providing monthly financial assistance, for example. Another example, some governments provide loans to people in need for the establishment of small-scale projects, thus this loan is repayable in easy monthly installments. Therefore, the government must be able to create jobs and work hard to reduce unemployment. Finally, the government is responsible to create a positive atmosphere in a country. The government creates the values of a nation, so widespread poverty, unemployment and homelessness in communities.
Unfortunately, student and parents rely on these lunches because they do not have the income to be able to afford either full-priced or homemade lunches. The only foreseeable way for American students to receive healthier lunches in their school cafeterias is if someone can create a solution to the cost problems. To fully understand the cost problem behind all of this, one must first understand that processed and pre-made foods are much less expensive than healthier, homemade alternatives. For example, if someone was going to make a lasagna dinner for their family they would be much more likely to want homemade lasagna because homemade is always better tasting and also healthier than pre-made frozen lasagna. However, when looking at the cost of both options,
I believe that the best way to reduce poverty in the United States is to fight it. There are millions of Americans struggling to put food on the table and making ends meet from earning low wages. In order to reduce poverty in the United States, the best thing would be to create good jobs for everyone to work, provide adequate work supports, and offer incentives so low-income workers are able to save and build wealth. Increasing SNAP (food stamps) benefits will boost food security, health, and nutrition, lifting millions out of poverty and millions of others out of deep poverty. Without job assistance, many working families would be struggling to put food on the table, and pay for housing, utilities, health care, child care, and transportation.
As a result, today there are minimum wage laws in the legislation of over 90% of all countries. Although, despite this high adoption rate, there is still much debate on whether the minimum wage law is effective in bringing the poor out of poverty, which was it’s original purpose. The premise behind minimum wage legislation issued by government is that by doing so, they are able to increase the earning power of all marginal workers. Embedded in this notion is the assumption that a business’ main goal is to generate the most profit possible, so no business owner will never voluntarily increase the pay of their workers. In order to counter this, government issues a minimum amount in which a business is allowed to pay their employees.