With respect to his current financial position, what are some of the things that Todd should be considering?

What are Todds three major goals?

Evaluate Todds goals in Question 3 with respect to the S.M.A.R.T. guidelines. How could each of the goals be more Specific.

Family friend, Todd Church, has asked you to help him gain control of his personal finances. Single and 35 years old, Todd is employed as a salesperson for a technology company here in Winnipeg, Manitoba. His job allows him to mostly work from home. His annual salary is $93600. He has payroll deductions for El and CPP contributions, and income taxes. Todd also recently moved from his cramped one-bedroom apartment with rent of $1,250 per month to a purchased two-bedroom condominium valued at $275,000 and a current mortgage balance of $220,000, at 4% interest, with blended mortgage payments of $2,050. Utilities and property taxes are included in the monthly condo fees. Todd needed the extra space so he could have a home office space for his work on-line. The condo is in an executive community with access to two golf courses, a lake, and an activity/fitness centre. Todd currently owns a car valued at $21000 with an outstanding car loan balance of $18,000 (the car loan has a low dealer incentive interest rate at 1.5% which means there is about 21 months remaining on the car loan). The car will have a residual value of $10,000 once the loan is paid off and will likely cost an additional $300 per month to maintain by the time the car loan is paid off