Question: Partner A is 55 years old, and Partner B is 50 years old. Partner A and Partner B, both partners earn $80 000 annually. The

Partner A is 55 years old, and Partner B is 50 years old. Partner A and Partner B, both partners earn $80 000 annually. The couple has three children, aged 10, 7, and 5. One has a disability. The couple wants you to explore government plans and options for them, and to make recommendations. They definitely want to plan for their children's future. Your recommendations must be objective, based on information, and balanced. Weigh the advantages and disadvantages of your recommendations, suggesting ways to mitigate (reduce) any foreseen issues.

How would you recommend they save this money - through registered or nonregistered accounts and why? How do new recommendations affect their financial future, and possibly the recommendations you made before? Be specific.

What government benefits would they be eligible for, and why? Are there any they would not be eligible for, and why? Does eligibility for government programs influence your recommendations, and why?

Step by Step Solution

★★★★★

3.28 Rating (157 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Given the couples desire to plan for their childrens future and their current financial situation here are some recommendations for them 1 Saving Mone... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

Josephine Mater works for the supply-chain analytics division of Trader Joes, a national chain of specialty grocery stores. Trader Joes is considering a redesign of its supply chain. Josephine knows...

Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...

Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...

You have completed your first meeting with Harper and Riley Evans. You are confident that you now have most of the information you will need to prepare a comprehensive financial plan for them. Beyond...

A couple comes to you for financial advice. Partner A is 35 years old, and Partner B is 30 years old. Partner A is a natural Canadian citizen; Partner B is a foreign-born who has lived and worked in...

CASE 5 THE BERRY CASE Today is January 1, 2021 INTRODUCTORY DATA THE FAMILY Mr. Berry (65) Mrs. Berry (65) Mr. Bush (65) Mrs. Berry (65) Rasp (36) Holly (36) Blue (5) Cherry (1) Currant (1) Dew (0)...

Use the attached Berry case as the basis for this comprehensive case. Life Coverage: Based on the capital needs approach, evaluate the adequacy of Rasp's life insurance coverage amount if he were to...

Hello!!! I need a summary of this case... thanks in advanve CHA time Gims and our partnership? Bettina B Plev, an employment Jaw specialist and partner in the Manhattan firm of Polar Rose believes...

This is a comprehensive case, which covers all you have learned regarding insurance planning. As with American many families, the Berrys have ambitious financial goals but lack the financial savvy to...

Prepare for Allison Ltd, the year-end Ledger Accounts for Inventory, Accounts Receivable, Accounts Payable, Rent and Insurance.

Create an Excel workbook with worksheet templates (similar to the Excel workbook Confidence Intervals) for one sample hypothesis tests for means and proportions. Apply your templates to the example...

Whom should the investigator interview first? Group of answer choices In alphabetical order. The persons farthest away from the fraud. As schedules permit The person ( s ) suspected of the fraud.

Go to the Deloitte Foundation website (www.deloitte.com). Download a Trueblood Case Study involving a joint venture or partnership. Write a sentence summarizing the issue in the case. Use the...

1. On February 1, a company declares a cash dividend, payable on March 1, to stockholders of record on February 20. March 1 is the: a. payment date. b. date of declaration. c. date of record. d....

Universal Electronics is considering the purchase of manufacturing equipment with a 10-year midpoint in its asset depreciation range (ADR). Carefully refer to Table 12-11 to determine in what...

Wal-Mart Stores (Walmart) is the worlds largest retailer. It employs an everyday low price strategy and operates stores as three business segments: Wal-Mart Stores U.S., International, and Sams Club....

Iona wrote her will. The following year, she wrote another will that expressly revoked the earlier will. Later, while cleaning house, she came across the second will. She mistakenly thought that it...

Qu son las normas de auditora y quin regula a los auditores en USA

Indicate, in each of the following situations, the number of exemptions the taxpayers are entitled to claim on their 2012 income tax returns. Number of Exemptions a. Donna, a 20-year-old single...

John Williams (age 42) is a single taxpayer, and he lives at 1324 Forest Dr., Reno, NV 89501. His Social Security number is 555-94-9358. John's earnings and withholdings as the manager of a local...

Carol Harris, Ph.D, CPA, is a single taxpayer and she lives at 674 Yankee Street, Durham, NC 27409. Her Social Security number is 793-52-4335. Carol is an Associate Professor of Accounting at a local...

As purchasing agent for the Horner-Williams Company, you have primary responsibility for securing high-quality raw materials at the best possible prices. One particular material the Horner-Williams...

The American Beef Growers Association is trying to promote the consumption of beef products. The organization performs numerous studies, the results of which are often used in advertising campaigns....

A study was conducted by the sports department of a national network television station in which the objective was to determine whether a difference exists between median annual salaries of National...