Need answers for this mini case for my finance class, included are pictures for the questions

The Case:

Please refer to the Alan & Angel Young Mini$-$Case in your textbook for all client

information.

Additional Information:

$$ They currently live in Lubbock, Texas

$$ Alan$$s DoB is $01/21/1989$

$$ Angela$$s DoB is $02/05/1989$

$$ Child #$1$ Name: Nathan, DoB: $02/28/2023$

$$ Child #$2$ Name: Yu$,$ DoB: $03/12/2023$

$$ Angela$$s Father $$ Name: Ralph, DoB: $03/01/1965$

$$ Angela$$s Mother $$ Name: Yi$,$ DoB: $01/29/1965$

$$ Alan$$s Mother $$ Name: Alaina, DoB: $10/17/1961$

$$ Trust #$1($Add as $$Other$)$

$$ Travel Goal is defined as $$15,000$ a year every year starting at retirement and

ending at the end of plan $($age $90).$ This will cover all their travel for that given

year. $($This is a $$Want$).$

$$ Alans Old $401($K$)$: $40\%$ Large Cap Growth, $40\%$ Large Cap Value, $20\%$ Small

Cap. Primary Beneficiary: Angela, Secondary: the Children $(50\%$ each$).$

$$ Alans New $401($k$)$: $30\%$ Large Cap Growth, $20\%$ Mid Cap, $20\%$ LT Bonds, $20\%$

Intermediate Bonds, $10\%$ Large Cap value. Primary Beneficiary: Angela,

Secondary: the Children $(50\%$ each$).$

$$ Tax basis remaining in inherited portfolio: $$170,000$

$$ Very Willing to save extra if it means an early retirement.

$6$ month elimination period on his group disability, benefit is non$-$inflation

adjusted.

$$ HO and Auto Policy expires $01/01/2026$

Question #$2$: Risk

Complete Exercise #$1$ at the end of Case $9$ include a complete table showing the

metrics used, your recommendations, and the cost$/$savings$.($I encourage you to refer to

the mini$-$case on Risk Management as a guide$)$

ALAN AND ANGEL YOUNG

THE FAMILY

Alan and Angel Young are both $36$ years old. After completing his MBA, Mr$.$ Young recently accepped a new job

making $$93,000$ a year and Mrs$.$ Young is currently unemployed. The Youngs have two children $($ages $4$ and $2),$ a

dog, and a Maine Coon cat.

Angel is highly educated in literature and law from prestigious universities. They are both licensed lawyers. The

Youngs have been married for eight years.

The Extended Family

Mr $.$ Young has a mother in her $60$ s $,$ who is living far away and is modestly self$-$sufficient. He also has two siblings

$$

who are both married and self sufficient. Alan inherited $$400,000$ from his late Uncle Fred, who was $100$

when he died and had worked everyday of his life. He has dwindled thing angel's mother

Mrs$.$ Young has one brother who is married to a wealthy entrepreneur and they have thodestly self sufficient. Angel's

is a pharmaceutical distributor and lives in another state. She is $60$ years old and, healthy, and has the utmost faith

father lives in the same town as the Youngs and her brother.

that the Youngs will become productive members of society.

Angel's Father $($Trust #$1)$

Angel's father set up a trust for the benefit of Mrs$.$ Young. Her brother Angel and from time to time, invades

controlled by her father. The trust regularly distributes $$30,000$ per year to Ange in the trust is $$700,000$ and it has

the corpus to buy her a new car or give her money for nonessentials. The balance trust balance is growing, but there is no

A A d $11$

minicase

EXXERCISE $1-$ RISK MANAGEMENT

prepart Metric Actual Recommendations Annual Cost$/$Savings Life Insurance $-$ His Life Insurance $-$ Hers Disability Insurance $-$ His Disability Insurance $-$ Hers Health Insurance Long$-$Term Care Property Insurance $-$ Homeowners Property Insurance $-$ Auto Property Insurance $-$ Other Liability Insurance

Life Insurance $-$ Hers

Disability Insurance $-$ His

Disability Insurance $-$ Hers

Health Insurance

Long$-$Term Care

Property Insurance $-$ Homeowners

Property Insurance $-$ Auto

Property Insurance $-$ Other

Liability Insurance

Comments:

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Statement of Income and Expenses

Statement of Income and Expenses

$$ Alan and Angel Young

Cash Outflows

Savings

$401($k$)$ Plan

Taxes

Social Security Taxes

Federal Withholding

State Withholding

Property Tax Residence

Debt Payments $($Principal & Interest$)$

Principal Residence $($P & I$)$

Auto Loan

Credit Cards

Living Expenses

Tuition to Little Darling School for the two children

Utilities for Residence

Entertainment$/$Vacation

Cable

Total Debt Payments

$$18,000$

Total Savings

Clothing

Auto Maintenance$/$Ga

Food

Insurance Payments

Total Taxes

Totals

Statement of Financial Position $($Beginning of Year$)$

Assets are stated at fair market value.

Liabilities are stated at principal only as of January $1,2017$ before January payments.

The land is valued at $$150,000.$

The trust assets are not included on the balance sheet.

Title Designations:

H$=$ Husband $($Sole Owner$)$

W $=$ Wife $($Sole Owner$)$

CP$=$ Community Property

EXTERNAL INFORMATION

ECONOMIC INFORMATION

General inflation has averaged $3\mathrm{.}0\%$ annually for the last $20$ years and is expected to continue at $3\%.$

They live in a community property state.

Bank Lending Rates

$15-$year conformin