Based on the above information, prepare a letter to your sister establishing a financial plan as follows:

1. Prepare a statement of net worth (Balance Sheet)

2. Prepare a list of recommendations for her. (In your plan, consider retirement, insurance, housing, credit management, goal setting, emergency fund, transportation, education, and tax planning, and estate planning)

3. Prepare a spending plan for the next year showing her income and expenses as well as funding other goals she has established as appropriate.