1. What actions have the Blakes taken that would be considered to be wise financial planning choices?

2. What areas of financial concern do the Blakes face? What actions might be appropriate to address these concerns?

3. Using time value of money calculations (tables in Appendix 1B), compute the following:

a. At 12 percent, what would be the value of the $22,000 education funds in three years?

b. If the cost of long term care is increasing at 7 percent a year, what will be the approximate monthly cost for Fran's mother eight years from now?

c. Fran and Ed plan to deposit $1,500 a year to their RRSPs for 35 years. If they earn an average annual return of 9 percent, what would be the value of their RRSPs after 35 years?

Read the case: "Triple Trouble for the Sandwich Generation"