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This was post by mistake I have posted the whole question in diiferent post If you could help me with that than please. Thank you
This was post by mistake I have posted the whole question in diiferent post If you could help me with that than please. Thank you for the help
Read the case and answer the questions at the end. Background It's Monday morning, November 16, 2020 and you are an experienced financial planner, specializing in retirement planning. This afternoon you are going to meet with your new clients, Fred & Wilma Flint. Prior to today you have only talked to the Flint's on the phone and you are looking forward to preparing a comprehensive retirement plan for them over the next few weeks. Before the meeting today you decide to go through your notes from the telephone conversation that you had with the Flints' last week. Below are your rough notes from the conversation: Background Notes Fred is now 67 years old and Wilma is 56 years old. Both Wilma and Fred are healthy and both are still working full time. Wilma works for a marketing firm and expects to earn a salary of $135,000 in 2020. Wilma contributes to her Employer Pension Plan, as required by her employment agreement. At age 67, Fred still works (in the education field) and he expects to earn a gross salary of $85,000 in 2020. Fred works on contract and is not a member of an employer pension plan. Fred receives no benefits from his employer. In 2017 the Flints' got involved in sailing and now rent a large sailboat twice a year for a trip down the east coast of United States. These trips have added a large cost to the Flint's already very expensive lifestyle. The Flint's expect their total expenses for 2020 to be $255,000 Both Fred and Wilma want to retire in 2 years (at the end of 2022). In retirement, the Flint's estimate that they will require at least $160,000 in gross income per year (before expenses and before taxes). Fred expects to earn $60,000 total income per year at the start of his retirement (in 2022) and Wilma expects to earn $100,000 per year in the year she retires from her current employer (2022). Expected sources of retirement income for Fred is CPP, Old Age Security and 50% of the income from the Flint's non-registered investment portfolio. Wilma's expected retirement income includes 50% of the income from the non-registered investment account and from her 1 Read the case and answer the questions at the end. Background It's Monday morning, November 16, 2020 and you are an experienced financial planner, specializing in retirement planning. This afternoon you are going to meet with your new clients, Fred & Wilma Flint. Prior to today you have only talked to the Flint's on the phone and you are looking forward to preparing a comprehensive retirement plan for them over the next few weeks. Before the meeting today you decide to go through your notes from the telephone conversation that you had with the Flints' last week. Below are your rough notes from the conversation: Background Notes Fred is now 67 years old and Wilma is 56 years old. Both Wilma and Fred are healthy and both are still working full time. Wilma works for a marketing firm and expects to earn a salary of $135,000 in 2020. Wilma contributes to her Employer Pension Plan, as required by her employment agreement. At age 67, Fred still works (in the education field) and he expects to earn a gross salary of $85,000 in 2020. Fred works on contract and is not a member of an employer pension plan. Fred receives no benefits from his employer. In 2017 the Flints' got involved in sailing and now rent a large sailboat twice a year for a trip down the east coast of United States. These trips have added a large cost to the Flint's already very expensive lifestyle. The Flint's expect their total expenses for 2020 to be $255,000 Both Fred and Wilma want to retire in 2 years (at the end of 2022). In retirement, the Flint's estimate that they will require at least $160,000 in gross income per year (before expenses and before taxes). Fred expects to earn $60,000 total income per year at the start of his retirement (in 2022) and Wilma expects to earn $100,000 per year in the year she retires from her current employer (2022). Expected sources of retirement income for Fred is CPP, Old Age Security and 50% of the income from the Flint's non-registered investment portfolio. Wilma's expected retirement income includes 50% of the income from the non-registered investment account and from her 1 Step by Step Solution
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