. What are three distinct challenges young adults face as they become independent and enter the workforce? Incorporate at least one theorist’s (e.g., Levinson, Erikson) work into your response.
2. What factors help or hinder young adults in terms of forming a “work identity?” What role can social networking sites play in these transitions?
3. What are some of the “pros” of entering middle adulthood in terms of physical, psychosocial, and cognitive development? What are some of the “cons?”
4. Compare and contrast two types of marriages as per Cuber and Haroff’s research. What are the pros and cons of each type?
5. What effects can extended deployments have on military members’ romantic relationships/marriages and on their relationships with their minor children? Personal examples are acceptable if applicable, but give specific examples from the research literature to support your personal observations.
Explain some of the myths regarding older adults and some of the realities they often face. Put special emphasis on the social-economic and the physical factors that you have found in your readings and research on this topic. Based on your experiences how would you interpret these myths and realities of older adults? Make sure to justify your answers by citing relevant sources.
When it comes to the social and economic status, it does not only look at the income by financial security, lifetime achievement and other subjective myths on what it means to have a social status or belong to a particular social class. For adults, the social and economic status is usually view from the quality of life which is attributed from the privileges and opportunities that they can afford as they continue to age(Dallaire, McCubbin, Carpentier, & Clément, 2008). One of the myths of social and economic status is usually measured from poverty level, however this is not the only common factors as it is also characterized by several psychological and physical stressors associated with elder age.
The basic fact is that as one continues to age, they can hardly work and will have very few opportunities when it comes to accruing more income; this does not mean that the cost of living would change for them, as it will also place them in a more economic disadvantage. But being in an economic disadvantage does not always meant that it will go hand in hand with their social status; this is a myth. There are many places for care of the old age of which they can continue to enjoy a social life even when they are out of employment. Another important issue is family support, which may not always be tied to the fact that they are no longer in employment(Dallaire, McCubbin, Carpentier, & Clément, 2008). Also poverty levels are not universal to the older group, as it also depends on ethnic and racial background. In the United States for example, it is expected that by 2030, there will be 25 percent older persons from ethnic minority groups, which consists of 19.2 percent African Americans and 18.1 percent Hispanics, compared to 8.7 whites living in poverty (APA, 2019).
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myths regarding older adults and some of the realities they often face.
Dan and Asha are both married, working adults. They both plan for retirement and consider the $4,000 annual contribution a must.
First, consider Asha’s savings. She began working at age 20 and began making an annual contribution of $4,000 at the first of the year beginning with her first year. She makes 15 contributions. She worked until she was 35 and then left full-time work to have children and be a stay at home mom. She left her IRA invested and plans to begin drawing from her IRA when she is 67.
Dan started his IRA at age 40. The first 20 years of his working career, he used his discretionary income to buy a home, upgrade the family cars, take vacations, and pursue his golfing hobby. At age 40, he made his first $4,000 contribution to an IRA and contributed $4,000 every year up until age 67, a total of 27 years/contributions. He plans to retire at age 67 and make withdrawals from his IRA.
Both IRA accounts grow at a 8% annual rate. Do not consider any tax effect.
A. Using TVM calculate the amount in Asha’s account when she turns 67
B. Using TVM calculate the amount in Dan’s account when he turns 67