Carla and family is a sweet small family of Four. Carla works as Project Manager at Rogers and makes $130,000 annually. Her husband, Joaquin, is a marketing executive in one of the Auto comparry, making around $120,000 annually. They migrated to Canada 3 years back and they hold Permanent Residence in Canada. They have lovely twin kids aged 6 years and they are in grade 1 now. Currently they are in a Condo and paying monthly rent of $2200 monthly. They want to own a house and they can afford upto $950,000 and they have saved around $100,000 for the down payment and cannot go beyond this. You are the Financial advisor at RBC bank and they have come to you for advise on Mortgage loans and other investment related queries: - Carla and her husband want to get a mortgage loan for 25 years period. However, they want their EMI to be in a fixed and it should not change. They want you to give them the details on: (20 marks) - Assisting in finding out the house in and around Toronto and not in 6TA - Monthly EMI calculations - About the down payment - Total closing cost to be paid associated with the house total calculations - They want to invest around $50,000 and they are expecting good growth in the next 5 years, As they plan to take one more Condo house after 5 years from now. How do you advise them on various investing instruments, which you learnt in the class and how much can they expect after 5 years. They are medium risk takers. (15 Marks) - Their age is around 35 years and they want to retire in next 30 years. How do you plan for their retirement so that they can happily live without doing much work after retirement. They are expecting around $500,000 each after 30 years. (15 Marks) Carla and family is a sweet small family of Four. Carla works as Project Manager at Rogers and makes $130,000 annually. Her husband, Joaquin, is a marketing executive in one of the Auto comparry, making around $120,000 annually. They migrated to Canada 3 years back and they hold Permanent Residence in Canada. They have lovely twin kids aged 6 years and they are in grade 1 now. Currently they are in a Condo and paying monthly rent of $2200 monthly. They want to own a house and they can afford upto $950,000 and they have saved around $100,000 for the down payment and cannot go beyond this. You are the Financial advisor at RBC bank and they have come to you for advise on Mortgage loans and other investment related queries: - Carla and her husband want to get a mortgage loan for 25 years period. However, they want their EMI to be in a fixed and it should not change. They want you to give them the details on: (20 marks) - Assisting in finding out the house in and around Toronto and not in 6TA - Monthly EMI calculations - About the down payment - Total closing cost to be paid associated with the house total calculations - They want to invest around $50,000 and they are expecting good growth in the next 5 years, As they plan to take one more Condo house after 5 years from now. How do you advise them on various investing instruments, which you learnt in the class and how much can they expect after 5 years. They are medium risk takers. (15 Marks) - Their age is around 35 years and they want to retire in next 30 years. How do you plan for their retirement so that they can happily live without doing much work after retirement. They are expecting around $500,000 each after 30 years. (15 Marks)
