Make a Recommendation Plan for Risk Management of Dave. Talk about diversification and also for emergency funds.

Present correct and complete recommendation (e.g. plan, amount)

Used Visual imagery

Use rule of three for benefits

Dave is widowed three years ago. They have a will when they got married and their beneficiaries are each other so whatever happens the benefit and all will go the one alive.

After the death of her wife he never updated his will. His Parents is taking care of his son when he is busy, his parents is age late 60s. He also has a brother and sister aged late 30s and has owed families. His in laws are also in their late 60s enjoying retirement.

His only wish if ever something bad to happen to him is all of his assets and money will go to his only son which is 6 years old now.

Currently owned a Car worth $25,000.00 in today's dollar

House bought at $750,000.00 and worth $1,000,000.00 in today's dollar

There is no major financial loss but have a Savings Account for his Emergency Fund.

Have a Disability Policy which will pay 65% of his salary.

Health Insurance

He is willing to take risk but not to the point of risking all the money.

Assets Available Today $24,787 Current Monthly Savings $0 Savings Period (Months) 12 Return Rate on Assets 4.89% Additional Monthly Savings $0 Savings Start Date 2024/05/01 Savings Indexed At 0.00% Additional Lump Sum Savings $0 Savings Date 2024/05/01 Goal Coverage Results Target Amount (Today's $) $24,572 Capital at Start of Goal $25,200 Shortfall --