If I had a Million Dollars Project By: Steven Chau.

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Presentation transcript:

If I had a Million Dollars Project By: Steven Chau

If I had a Million Dollars Project Introduction One million Inheritance 1,000,000 Granny Steven Chau I was given assignment to expand my knowledge of financial literacy in life. Granny has given a letter that said that she has passed away unfortunately and how she given me $1,000,000 inheritance, but there were some restrictions in using this abundance of cash, which Mr. Giles will inform me of. These restrictions includes: college tuition and inflation, a house, a family vacation, a reliable vehicle, and a donation to a charitable organization. Until I have met these restrictions, I will been able to spend the rest to my liking. $0 + $1,000,000 = $1,000,000 Money: $1,000,000

Donation to Saint Jude’s Children Hospital $50 to $1,000,000 - $50 = $999,950 Money Left: $999,950 Saint Jude’s Children Hospital Fifty Donation Steven Chau I needed to make a donation to a charitable organization So, we made a donation of $50 to the charitable organization, Saint Jude’s Children Hospital

2016 Honda Pilot Purchase and Tax Cost: $30,145 Tax: $ Total Cost: $32,556.6 We need to purchase a reliable vechicle for myself, so that we could go to San Antonio for a vacation by car, and for other future destinations. Car and TaxSteven Chau 32,556.6 Thirty two thousand, five hundred fifty six and six Honda Motor Company $999,950 - $32,556.6 = $967,393.4 Money Left: $967,393.4

House Purchase and Tax We needed some shelter to live in for some time, so we bought a house. $967,393.4 – $352,820 = $614,573.4 Money Left: $614,573.4 Realty One Group-Lone Star 352,820 Three hundred fifty two thousand, eight hundred twenty House and Tax Steven Chau House Address: Hillcroft St, Houston, TX Cost: $299,000 Tax: $53,820 Total: $352,820

College Tuition and Inflation (4 years) We needed to put aside at least $75,000 for four years of college tuition and inflation. The college is Houston Baptist University. Total cost: $165,392 (including tuition and Inflation) $614, $165,392 = $449,181.4 Money Left: $449,181.4 Houston Baptist University 165,392 One hundred sixty five thousand, three hundred ninety two College Tuition and Inflation Steven Chau

Vacation to San Antonio and Hotel Cost: $1,572 $ $1,572 = $447,609.4 Money Left: $447,609.4 My family of 3 people wanted to go to San Antonio to sit back and relax. They also needed a hotel, so that they stay in San Antonio for some time. Hotel: Omni La Mansion del Rio 1,572 Steven Chau Vacation One thousand, five hundred seventy two Omni La Mansion del Rio

Trip to Sky Zone We had not have fun in a while, so we decide to go to Sky Zone for 30 minutes. $447, $32.29 = $447, Money Left: $447, Sky Zone Thirty two and twenty nine Sky Zone Trip Steven Chau Cost: $30.00 Tax: $2.29 Total Cost: $32.29

School Field Trip Kolter Elementary School Fifty School Field Trip I wanted to go to the school field trip, and it cost $50 for the trip. Cost: $50 Steven Chau $ 447, – $50 = $447, Money Left: $447,527.11

If I a Millions Dollars Project Conclusion I have now finished my assignment, to expand my knowledge of financial literacy in life. I feel sorry and sad for Granny passing away like this and giving her abundance of money to me like this. I also thank her for giving me a $1,000,000 to make a good living out of it. I now have $447, left in money, which I would use for other future expenses. I also have an abundance of cash left fortunately. Money Left: $447,527.11

If I had a Million Dollar Project End Any Questions? Money Left: $447,527.11