Question: Now that you have read the chapter on estate planning, what do you recommend to Juliana and Fernando on the subject of retirement and estate

Now that you have read the chapter on estate planning, what do you recommend to Juliana and Fernando on the subject of retirement and estate planning regarding?
1. How much in Social Security benefits can each expect to receive?
2. How much do they each need to save for retirement if they want to spend at a lifestyle of 80 percent of their current living expenses?
3. In which types of retirement plans might Fernando invest for retirement?
4. What withdrawal rate might they use to avoid running out of money during retirement?
5. What three types of actions might they take to go about transferring their assets by contract to avoid probate?

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