Question: Part 2: A case study Assume: You are a financial adviser and are approached by a married couple, Keith and Patti Richards. Both are 70

 Part 2: A case study Assume: You are a financial adviser

Part 2: A case study Assume: You are a financial adviser and are approached by a married couple, Keith and Patti Richards. Both are 70 years old and Australian citizens. The following information is an extract of data you gathered as part of the fact-finding exercise during an initial client consultation with them: The couple has approached you for an understanding of their age pension eligibility. They have the following assets. Calculate their entitlement for the age pension. Assets Home Home Contents and cars Investment property - net rental income of $10 000 Bank account interest rate of 2% Term deposit - interest rate of 3.5% Amounts $600,000.00 $65,000.00 $320,000.00 $110,000.00 $270,000.00 Calculate their entitlement to the age pension. (10 marks)

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