updated appendix noting and updated statemet of cash flows, and updated statment 5 years from now ONLY. excel file if you can. thanks

INCLUDE A SHORT SUMMARY NOTING CHANGES MADE AFTER 5 years

Case Study Overview: This case study requires you to apply the concepts learned in FINC 209 Personal Finance course. The course has equipped you with basic personal finance sklils. For this project, you must analyze the given information in the case, gather relevant information from various primary and secondary sources (in some cases other than the textbook) and use your acquired skills in making optimal suggestions. Rules: 1. Each pair is provided with financial information about a fictional family's financial situation. Please do not limit yourself to the financial information provided, but instead utilize all information learned throughout the course to offer them a detalled financial plan to address both short and long term goals. 2. The case objective is to analyze the family's finances and make recommendations as if you are their financial advisor. You can create a budget and expense sheet and anything else you might want to show them as you present your recommendation. You will present your recommendations to the family int 7 areas: 1) Debt Management, 2)Housing, 3) Saving, 4) investing, 5) Retirement, 6) Taxes, 7) Insurance 3. The paper should be approximately 5 pages in length and include an appendix noting an updated statement of cash flows and an updated statement of financial position 5 years from now. Please take into account costs of owning a home and speak to the changes in each figure based on your financial plan. You should explain in detall the changes from the reports as of today vs. the updated figures you are going to present the client with that shows a 5 year projection and how you calculated those figures. The paper must be comprehensive, clear, and concise. 4. Your goal is to give the family sound advice for their future based on your knowledge of financially sound practices. Family Financial Profile: CTA TEA REAiT n.f of hid ri atad STATEMENT OF FINANCIAL POSITION Scenario. and items to address and account for in your financial plan: Both John and Jill Smith were recently promoted as such there yearly net cash flow has jumped to almost $20K/mon th. They aren't sure how to best allocate the additional $20K/ year and need your help as their financlal advisor. The 5 mith famlly has highlighted to you areas of concern and also financial goals: 1) The Smith family currently rents a townhome, but would like to buy their dream home within the next 4 years. Realistically, they would like to purchase a home for $500K and make a down payment of 1020%. The township they are looking to move to has property taxes of approximately $15k/ year for a house valued at $600K. The expected mortgage rate will be 5N. Please remember to factor in maintenance costs of about $8k/ year on owning a home. 2) The Smith family has significant debt, which is eating away at their net worth. How can they be more efficlent in handling their debts? 3) Are there any changes needed to insurance? 4) The Smith family estimates they would need approximately $1.5mm in retirement savings by the age of 65 . Please address a revised retirement savings plan knowing this information. 5) The Smith family estimates college will cost them approximately $150K per child. How will you advise them to save for college? 6) Over the next 5 years both John and ail expect to receive 3% raise increases each year. 7) The current credit score of the Smith family is 550 . How can they increase the credit score within 5 years and what will the atfects of an improved credit score be? Case Study Overview: This case study requires you to apply the concepts learned in FINC 209 Personal Finance course. The course has equipped you with basic personal finance sklils. For this project, you must analyze the given information in the case, gather relevant information from various primary and secondary sources (in some cases other than the textbook) and use your acquired skills in making optimal suggestions. Rules: 1. Each pair is provided with financial information about a fictional family's financial situation. Please do not limit yourself to the financial information provided, but instead utilize all information learned throughout the course to offer them a detalled financial plan to address both short and long term goals. 2. The case objective is to analyze the family's finances and make recommendations as if you are their financial advisor. You can create a budget and expense sheet and anything else you might want to show them as you present your recommendation. You will present your recommendations to the family int 7 areas: 1) Debt Management, 2)Housing, 3) Saving, 4) investing, 5) Retirement, 6) Taxes, 7) Insurance 3. The paper should be approximately 5 pages in length and include an appendix noting an updated statement of cash flows and an updated statement of financial position 5 years from now. Please take into account costs of owning a home and speak to the changes in each figure based on your financial plan. You should explain in detall the changes from the reports as of today vs. the updated figures you are going to present the client with that shows a 5 year projection and how you calculated those figures. The paper must be comprehensive, clear, and concise. 4. Your goal is to give the family sound advice for their future based on your knowledge of financially sound practices. Family Financial Profile: CTA TEA REAiT n.f of hid ri atad STATEMENT OF FINANCIAL POSITION Scenario. and items to address and account for in your financial plan: Both John and Jill Smith were recently promoted as such there yearly net cash flow has jumped to almost $20K/mon th. They aren't sure how to best allocate the additional $20K/ year and need your help as their financlal advisor. The 5 mith famlly has highlighted to you areas of concern and also financial goals: 1) The Smith family currently rents a townhome, but would like to buy their dream home within the next 4 years. Realistically, they would like to purchase a home for $500K and make a down payment of 1020%. The township they are looking to move to has property taxes of approximately $15k/ year for a house valued at $600K. The expected mortgage rate will be 5N. Please remember to factor in maintenance costs of about $8k/ year on owning a home. 2) The Smith family has significant debt, which is eating away at their net worth. How can they be more efficlent in handling their debts? 3) Are there any changes needed to insurance? 4) The Smith family estimates they would need approximately $1.5mm in retirement savings by the age of 65 . Please address a revised retirement savings plan knowing this information. 5) The Smith family estimates college will cost them approximately $150K per child. How will you advise them to save for college? 6) Over the next 5 years both John and ail expect to receive 3% raise increases each year. 7) The current credit score of the Smith family is 550 . How can they increase the credit score within 5 years and what will the atfects of an improved credit score be