Please respond to the following 1. There is an oft-repeated quote about personal financial planning that says, "Your last check should bounce." Explain what this saying means. 2. What are some personal considerations that would inspire you not to follow the above advice? 3. For someone who is the primary breadwinner and has several young children, what are the tradeoffs between term life insurance and whole life insurance? 4. The Jenkins have both just retired. The kids are out of the house and financially independent. Suppose that they are 25 years in to a life insurance policy. What would that mean if it was a whole life policy? What would it mean if it was a 30year term life policy? 5. Suppose that Russell is currently 42 years old and looking at life insurance. He is trying to decide between a whole life polisy and an 80 -year term life policy. How different in price would you expect the life insurance policies to be? 6. If you are only concemed about having money available for funeral expenses, what type of life insurance would you look into