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As a retirement plan specialist in a financial planning firm, you are approached by companies (or business owners) for recommendations in selecting a retirement plan

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As a retirement plan specialist in a financial planning firm, you are approached by companies (or business owners) for recommendations in selecting a retirement plan that fits their ne eds. You are expected to deliver a written proposal to the company (or owner) describing the retirement plan you recommend. Mike Smith is the sole shareholder of Craft Manufacturing. Throughout the past year s, his company has flourished due to the hard work and loyalty of his employees. The company (total stock) is valued at approximately $5,000, 0 00. Mike would like to retire, but has not found a suitable buyer for the business. Craft does not currently have a retirement plan in place, so Mike would like to explore his options of retirement plans in hopes of finding a plan t hat will allow him to retire. Mike's objectives arc: 1. Fund his retirement in as short of time as possible. Have employees bear investment risk. Willing to contribute company stock or cash

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