Based on the information provided, provide a summary of the Johnson's short term and long term goals.

kindly answer specific to the information provided

You are an experienced personal financial planner working in Oshawa, Ontario. On November 15,22 , you met with your new clients, Claire and David Johnston. Below is a summary of your notes from the meeting. Claire and David Johnston have been married for 9 years and have a 7 -year-old daughter named Maegan. Claire and David are both aged 36. Claire is pregnant and the Johnston's are expecting their second child in 4 months. They currently rent a small two-bedroom apartment for $1,800 per month. David works as a manager for a robotics manufacturer and earns $105,000 gross annual income ($80,350 after payroll deductions of CPP, EI \& tax). Claire works as a writer/editor for a local newspaper and earns $35,000 gross annual income ( $29,500 after payroll deductions of CPP, EI & tax). Two months ago, Claire received a tax-free inheritance from her late father in the amount of $150,000. Claire and David used $40,000 of the inheritance to each contribute $20,000 to their own RRSPs. The Johnstons do not make regular contributions to their RRSP accounts. They make RRSP contributions only when they have extra money at the end of the year. The remaining balance of the inheritance, $110,000, was deposited by Claire into a joint savings account (joint with David) at the local bank because they were unsure how to invest their money. The interest rate on this account is 1% per year. David and Claire have disability insurance and health care insurance through their employers but neither has any life insurance. The Johnstons are starting to think more about their future with the aim of implementing their short-term and long-term goals and objectives. Short-Term Objectives: 1. For their immediate future they have decided they need a new car for David and would like to have something larger to transport their growing family. They would like to replace David's car with a new Ford Bronco. Their maximum price range before all applicable taxes and fees is $50,000. They must decide if they wish to buy or lease the car. a. Note: The brand and model of the vehicle they are purchasing doesn't really matter here; your recommendation is based on their finances, not their vehicle choice. Also, assume any vehicle they choose is in stock/readily available. 2. The Johnstons would like to move into a large home. They are not sure if they have enough money for a down payment. They are looking at houses that cost $600,000. They would also consider renting a house if they can not afford to purchase one at this time. Your clients have asked you to help them determine if it is best for them to buy or rent a house. 3. The Johnstons want to have adequate life insurance. They have asked you to assess their current insurance situation. 4. Your clients want to ensure that their investment portfolios are appropriate to earn the maximum rate of return based on their acceptable risk level. They are expecting a minimum rate of return on their investments of 7%. However, they have indicated that they wish to remain conservative investors. Long-Term Objectives: 1. Claire and David wish to save for their children's education fund for college or university. Assume that they will have 2 children to save for over the next 11 and 18 years. 2. Claire and David want to retire at age 60 . REQUIRED: Client's goals and objectives. Based on the information above, provide a summary of the Johnson's short-term and long-term goals. You are an experienced personal financial planner working in Oshawa, Ontario. On November 15,22 , you met with your new clients, Claire and David Johnston. Below is a summary of your notes from the meeting. Claire and David Johnston have been married for 9 years and have a 7 -year-old daughter named Maegan. Claire and David are both aged 36. Claire is pregnant and the Johnston's are expecting their second child in 4 months. They currently rent a small two-bedroom apartment for $1,800 per month. David works as a manager for a robotics manufacturer and earns $105,000 gross annual income ($80,350 after payroll deductions of CPP, EI \& tax). Claire works as a writer/editor for a local newspaper and earns $35,000 gross annual income ( $29,500 after payroll deductions of CPP, EI & tax). Two months ago, Claire received a tax-free inheritance from her late father in the amount of $150,000. Claire and David used $40,000 of the inheritance to each contribute $20,000 to their own RRSPs. The Johnstons do not make regular contributions to their RRSP accounts. They make RRSP contributions only when they have extra money at the end of the year. The remaining balance of the inheritance, $110,000, was deposited by Claire into a joint savings account (joint with David) at the local bank because they were unsure how to invest their money. The interest rate on this account is 1% per year. David and Claire have disability insurance and health care insurance through their employers but neither has any life insurance. The Johnstons are starting to think more about their future with the aim of implementing their short-term and long-term goals and objectives. Short-Term Objectives: 1. For their immediate future they have decided they need a new car for David and would like to have something larger to transport their growing family. They would like to replace David's car with a new Ford Bronco. Their maximum price range before all applicable taxes and fees is $50,000. They must decide if they wish to buy or lease the car. a. Note: The brand and model of the vehicle they are purchasing doesn't really matter here; your recommendation is based on their finances, not their vehicle choice. Also, assume any vehicle they choose is in stock/readily available. 2. The Johnstons would like to move into a large home. They are not sure if they have enough money for a down payment. They are looking at houses that cost $600,000. They would also consider renting a house if they can not afford to purchase one at this time. Your clients have asked you to help them determine if it is best for them to buy or rent a house. 3. The Johnstons want to have adequate life insurance. They have asked you to assess their current insurance situation. 4. Your clients want to ensure that their investment portfolios are appropriate to earn the maximum rate of return based on their acceptable risk level. They are expecting a minimum rate of return on their investments of 7%. However, they have indicated that they wish to remain conservative investors. Long-Term Objectives: 1. Claire and David wish to save for their children's education fund for college or university. Assume that they will have 2 children to save for over the next 11 and 18 years. 2. Claire and David want to retire at age 60 . REQUIRED: Client's goals and objectives. Based on the information above, provide a summary of the Johnson's short-term and long-term goals