Michael is a simple guy that does not require much in material things but also realizes that he can't provide many of the luxuries that his new bride desire. He is conscious of his spending since he's planning to obtain his Ph.d in order to make more money. He knows he may have to work less to invest more time in his studies so he's careful to keep his expense low. Like a responsible couple they direct deposit their pay into one account and Tipper handles the finances. They seek your financial opinion on how they should handle their fund in order to have 20% as a down payment on a home in 24 months as well as planning for a baby in the next two years. The daycare that Tipper has selected for their future child is attended by the elite of the town. The monthly fee is $1500. Your job is to evaluate the Luke's financial scenario and advise them on what they need to do to become financially healthy and what steps to take to avoid financial challenges. Your task is to help them create a plan that would help them satisfy their goals while helping them to avoid loss and invest in their future. You will also advise them on a plan to allow Michael to go back to school for 2 years to obtain his Ph.d. You will give a detailed financial statement outlining their income, the taxable bracket in which they pay taxes and avenues to tax defer. You will also suggest investing and savings and an plans and pathway to create access to money in case of an emergency. You will outline their debts and assists and determine whether they are solvent or not. You must itemize their current debt so that they may have a visual of their actual spending. You will make a recommendation on their short and long-term debt and make a plan that save them on time and interest. Also, advise them on whether it's best to have a fixed or variable loan on the home they seek to purchase money for the home. Also, provide them with a monthly living expenses covered ratios and make recommendations for an emergency fund. Tell them their debt ratio and explain to them how you obtained it. Explain to them how they use their money and what an APR is when securing financing. Describe for them why they should put their funds in an account that pays compound interest and show them how their money would grow. Explain to them how an amortized loan work. Michael is a simple guy that does not require much in material things but also realizes that he can't provide many of the luxuries that his new bride desire. He is conscious of his spending since he's planning to obtain his Ph.d in order to make more money. He knows he may have to work less to invest more time in his studies so he's careful to keep his expense low. Like a responsible couple they direct deposit their pay into one account and Tipper handles the finances. They seek your financial opinion on how they should handle their fund in order to have 20% as a down payment on a home in 24 months as well as planning for a baby in the next two years. The daycare that Tipper has selected for their future child is attended by the elite of the town. The monthly fee is $1500. Your job is to evaluate the Luke's financial scenario and advise them on what they need to do to become financially healthy and what steps to take to avoid financial challenges. Your task is to help them create a plan that would help them satisfy their goals while helping them to avoid loss and invest in their future. You will also advise them on a plan to allow Michael to go back to school for 2 years to obtain his Ph.d. You will give a detailed financial statement outlining their income, the taxable bracket in which they pay taxes and avenues to tax defer. You will also suggest investing and savings and an plans and pathway to create access to money in case of an emergency. You will outline their debts and assists and determine whether they are solvent or not. You must itemize their current debt so that they may have a visual of their actual spending. You will make a recommendation on their short and long-term debt and make a plan that save them on time and interest. Also, advise them on whether it's best to have a fixed or variable loan on the home they seek to purchase money for the home. Also, provide them with a monthly living expenses covered ratios and make recommendations for an emergency fund. Tell them their debt ratio and explain to them how you obtained it. Explain to them how they use their money and what an APR is when securing financing. Describe for them why they should put their funds in an account that pays compound interest and show them how their money would grow. Explain to them how an amortized loan work