1 Given the age, marital status, household makeup, and employment situation of this family, list the specific short-term and long-term financial goals and activities this family should be focused on. Be specific (For example, what dollar amount should they have in their emergency fund? Why that amount? Etc.) 2 Explain to this family how safety, risk, income, growth, and liquidity affect an investment program. Be sure to mention the specific types of risk that are inherent to investments. Meghan and Harry have hired you to deliver some financial expertise and advice. They are 30 years old and have two children, ages 4 and 5, and live in Denver, Colorado. They work as engineers at a transportation company and currently earn $90,000 each (after-tax). In your initial meeting with them, they stated the following financial goals: 1 Establish an adequate emergency fund 2 Pay off current debts 3 Purchase a 4 bedroom, 3 bathroom home in the Highlands Ranch area, where this type of home averages about $400,000 (they want to put down 20% as a down payment and finance the rest using a 6%, 30-year mortgage) 4 Create a college fund for their children (they plan for each child to enroll at the University of Colorado when they turn 18 and have estimated the total cost of college at $60,000 for each child) 5 Establish an investment plan that will grow to $3,000,000 when they retire at age 65. Family Financial Information Assets Checking $5,000 Savings $10,000 Cars $40,000 Liabilities Student $40,000 Car Loan $20,000 Credit Ca $3,000 Monthly Outflow: Rent $2,000 Insuranc $150 Utilities $300 Food $550 Daycare $425 Kid Esser $150 Gas/Mai $225 Credit Cc $500 Student $275 Car Payn $550 Entertair $200 1 Given the age, marital status, household makeup, and employment situation of this family, list the specific short-term and long-term financial goals and activities this family should be focused on. Be specific (For example, what dollar amount should they have in their emergency fund? Why that amount? Etc.) 2 Explain to this family how safety, risk, income, growth, and liquidity affect an investment program. Be sure to mention the specific types of risk that are inherent to investments. Meghan and Harry have hired you to deliver some financial expertise and advice. They are 30 years old and have two children, ages 4 and 5, and live in Denver, Colorado. They work as engineers at a transportation company and currently earn $90,000 each (after-tax). In your initial meeting with them, they stated the following financial goals: 1 Establish an adequate emergency fund 2 Pay off current debts 3 Purchase a 4 bedroom, 3 bathroom home in the Highlands Ranch area, where this type of home averages about $400,000 (they want to put down 20% as a down payment and finance the rest using a 6%, 30-year mortgage) 4 Create a college fund for their children (they plan for each child to enroll at the University of Colorado when they turn 18 and have estimated the total cost of college at $60,000 for each child) 5 Establish an investment plan that will grow to $3,000,000 when they retire at age 65. Family Financial Information Assets Checking $5,000 Savings $10,000 Cars $40,000 Liabilities Student $40,000 Car Loan $20,000 Credit Ca $3,000 Monthly Outflow: Rent $2,000 Insuranc $150 Utilities $300 Food $550 Daycare $425 Kid Esser $150 Gas/Mai $225 Credit Cc $500 Student $275 Car Payn $550 Entertair $200