Austin and Jenifer are both 35 years old with two (2) children ages 7 & 9. Austin works as an IT Manager with a medium-size firm and his salary is $120,000 annually. Jenifer stays at home with their children and works part-time earning approximately $10,000 to $15,000 a year. They had no other debt except their home for which they owe $260,000. Austin has a present 401k balance of $100,000 and a Roth IRA with around $50,000 which they plan to use for college. Their family is covered under a company-provided health care plan. Their monthly expenses usually trend around $6,000 per month. They are in the 22% federal tax bracket and live in a state with no sales tax.

-Explain how you (the financial planner) would position the applicable and needed insurance solutions to fit both the client's budget and needs.

-Explain why and how you came up with your proposed solution.

-Use real-time experiences (if applicable) to explain past solutions.

Answer rating: 100% (QA)

ANSWER I Step 1 i As a financial planner my first step would be to assess the current insurance coverage that Austin and Jenifer have in place ii Since Austin is employed their family is likely covere... View the full answer