Work-Life Balance - Essay Example

Teacher Scenario A Rachel’s short term is to have somebody take care of her baby and to afford their household expenses while her husband is in between jobs. Their choice is to have Bill attend to their baby while he is still between jobs to save money from the expensive day care. 2. Their long term goals are to have Bill find another job and to pay off the mortgage on the house and to pay their student loans. Also to set up a college fund for the baby when he or she grows up.3. Opt the baby out of expensive day care and have Bill, the husband to take care of the baby while he is still in between jobs.

This will save money and make bill productive while looking for a new job. Rachel will take turn in taking care of the baby when Bill is out looking for a new job that would them realize their long term objective.Scenario B1. Malik short term goal is to help his mother with her medical bills and to continue contributing to his 401k program that will eventually fund his retirement.2. Malik’s long term goal is to have a comfortable retirement at age 62.3. Bill’s option is to temporarily suspend his contribution to his 401k fund and direct the fund to help her mother with her medical bill.

He can also make a partial loan out of 401k fund if his 10% contribution will not suffice to help his mother’s medical bill.