MINI CASE Risk Management Mini Case Today is January 1, 2013 WILLIAM AND LUCY HAYES THE FAMILY William and Lucy have come to you, a financial planner, for help in developing a plish their financial goals. From your in meeting, you have ga the $1 191.63 following information. William Hayes, age 37, is the owner and manager of a store that sells children's toys. He has S13,171.71 Schedule C net income of $65,000. Lucy Hayes, age 37, is a paralegal with an income of szmso 14 $113501 s55,000. Their net worth is $300,000 consisting of s150,000 equity in their home and $150,000 of investments and cash and cash equivalents. aso sa lliam and Lucy been married for 15 retire in 25 years. They have two children. Taylor and Cavan, and do not plan to have any more children. Taylor, S19.545 too $13,755.10 h grade. Cavan, age II. is in 15, attends the local public high school and is in the nin rhe sixth grade at the local grammar school. 542.330 cs FINANCIAL GoALs & CONCERNS $130.95 Their primary goal for this example, is co develop an appropriate risk management ssas 20o portfolio. Their other goals and concerns are as follows 517.892,81 I. The Hayes want to provide a standard of living post retirement of 80% of their preretirement earnings. $24.002.54 2. They want to accumulate sufficient assets to send their children to a state univer $11.821.25 $9630.13 145.14 3. They want to minimize their current income liability. 4. They want to expand the toy store. $20.35 ey want to be mortgage and debt free at retirement. 6. They want to purchase an airplane upon retirement. 5484, 1965 MINI CASE #1 HAYES 123 522: 43 MINI CASE Risk Management Mini Case Today is January 1, 2013 WILLIAM AND LUCY HAYES THE FAMILY William and Lucy have come to you, a financial planner, for help in developing a plish their financial goals. From your in meeting, you have ga the $1 191.63 following information. William Hayes, age 37, is the owner and manager of a store that sells children's toys. He has S13,171.71 Schedule C net income of $65,000. Lucy Hayes, age 37, is a paralegal with an income of szmso 14 $113501 s55,000. Their net worth is $300,000 consisting of s150,000 equity in their home and $150,000 of investments and cash and cash equivalents. aso sa lliam and Lucy been married for 15 retire in 25 years. They have two children. Taylor and Cavan, and do not plan to have any more children. Taylor, S19.545 too $13,755.10 h grade. Cavan, age II. is in 15, attends the local public high school and is in the nin rhe sixth grade at the local grammar school. 542.330 cs FINANCIAL GoALs & CONCERNS $130.95 Their primary goal for this example, is co develop an appropriate risk management ssas 20o portfolio. Their other goals and concerns are as follows 517.892,81 I. The Hayes want to provide a standard of living post retirement of 80% of their preretirement earnings. $24.002.54 2. They want to accumulate sufficient assets to send their children to a state univer $11.821.25 $9630.13 145.14 3. They want to minimize their current income liability. 4. They want to expand the toy store. $20.35 ey want to be mortgage and debt free at retirement. 6. They want to purchase an airplane upon retirement. 5484, 1965 MINI CASE #1 HAYES 123 522: 43
