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income was spent. Utilizing targeted benchmarks, which of the following statements are you most likely to make during you next meeting? Question 3 Which of
income was spent. Utilizing targeted benchmarks, which of the following statements are you most likely to make during you next meeting? Question 3 Which of the following statements concerning the valuation of assets on the balance sheet is correct? Question 4 Curtis is 60 years old. He plans to retire in five years. He has amassed a net worth of$ 1,500,000 which he expects will sustain him during retirement. He is divorced with two adult independent children. Which phase of the life cycle is Curtis most likely in? Question 5 Jack and Jill are 41 years old and plan on retiring at age 65 and expect to live until age 95. They currently earn$ 200,000 and expect to need $ 100,000 in retirement. They also expect that Social Security will provide $ 24,000 of benefits in today's dollars at age 65. They are saving$ 20,000 each in their 401(k) plans and IRAs. Their son, Parker, is expected to go to college in 10 years. They want to save for Parker's college education, which they expect will cost$ 25,000 in today's dollars, and they are willing to fund 4 years of college. They were told that college costs are increasing at 6% per year, while general inflation is 3%. They currently have$ 500,000 saved in total, and they are averaging an 8% rate of return and expect to continue to earn the same return over time. Based on this information, what should they do? Question 6 Lori is an assistant to a patent lawyer and earns$ 40,000. She pays $ 500 per month on her mortgage, her homeowners insurance is$ 2,000 per year, her taxes are$ 2,000, her utilities are$ 5,000 per year and she pays$ 4,000 in credit card bills each year. Her housing ratio 1 is equal to 37.5%. Question 7 Mark and Caren are 36 years old? they plan on retiring at age 62 and expect to live until age 95. They currently earn$ 250,000 and expect to need $ 200,000 in retirement. They also expect that Social Security will provide $ 40,000 of benefits in today's dollars at age 62. They are saving$ 15,000 each in their 401 (k) plans and just had a baby boy they named Albert Rufus or AFi for short. They want to save for AR's college education, which they expect will cost $ 20,000 in today's dollars, and they are willing to fund 4 years of college. They were told that college costs are increasing at 7% per year, while general inflation is 3%. They currently have$150,000 saved in each of their 401 (k) plans, and
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