Judy and Stan:

- Judy and Stan are in the final stage of their working careers. Both are looking forward to a long and comfortable period of retirement.

- The house is where they raised their children. The children are now adults and they have families of their own. Judy and Stan enjoy being grandparents.

- Judy and Stan like to travel so their retirement plan and spending budget must include some allowance for this activity.

- They are not rich but own their house and paid off the bank loan several years ago.

- Both Judy and Stan would consider themselves prudent and careful with money - and they are very mindful that regular income from salary will soon come to an end.

Identify and discuss the key issues that Judy and Stan must address to achieve their goal of retirement in five years. Note: no calculations required. (5 marks)