If you file for Chapter 7 or 11, it will remain on your credit report for up to 10 years. If you file for Chapter 13, it may stay on your report for up to seven years. A Chapter 11 bankruptcy will stay on the business's credit report, not the individual owner's, unless they file a personal bankruptcy.
Answer:Purchasing power in todayâs dollars = $289,287/1.02536 = $118,924. 4) You plan to save $7,000 each of the next 40 years, and invest that money in an account that pays 9% annual interest. In addition, you plan to pay for your childâs college education beginning in 20 years.
1 Learn the financial ropes. 2  If you're in the US, remember that the US government only insures each bank account up to $250,000, which means that you shouldn't have more than $250,000 in each bank account if you want to be safe. 3  Invest money that isn't in a bank account in the bond or stock market.hey will help you weigh all possible options and give you the best possible counsel for managing your winnings. 1  Your financial advisor will discuss with you a plan for how much money to spend versus to save, whether to invest your money and where, along with projections like when you can expect to retire.