When they do retire, Lois and Peter would like to spend at least 3 months each winter in either Arizona or Mexico. With this being part of their plan, they believe they will need to have ajoint (combined) gross-an nual income. at retirement. of at least $125,000 per year. Lois and Peter are not good at saving money, and even worse at knowing where the money goes. They use their credit cards to buy almost everything, so they can build-up the Air Miles and other travelpoints to take vacations on. Some months they pay large amounts of money against their credit card balances, other months they make only the minimum payments. Your Assignment 1) create a joint personal balance sheet for Lois and Peter and provide your conclusions about what you see in their balance sheet. (5 marks for the balance sheet, and 5 marks for your commentary) 2) create a joint cash-flow statement for the couple and provide your conclusions about what that cash-flow statement seems to indicate. (5 marks for the cash flow statement and 5 marks for the commentary) 3) Evaluate their risk-management simation (their use of insurance products to protect various aspects of their lives). (6 marks) 4) Examine their investment portfolios (what each has in their RRSPs) and make some recommendations about the types of investments they have and the risks they need to be aware of. (6 marks) 5) Comment on Lois's and Peter's current tax strategies and make any recommendations you think are appropriate. (6 marks) 6) From what you have concluded from the value of their investment portfolios (RRSPs) together with the other sources of income in their retirement what, in your opinion, is the likelihood that the couple can achieve the goals they have with their respective RRSPs and that they can, together, have retirement income of $125,000 per year. (8 marks) 7) Discuss how they are using, and managing, their consumer credit and make recommendations. (5 marks) 8) Provide your comments and recommendations about the intention that the couple has to pay for their sons' post-secondary education. (4 marks) 9) Most important: apply large amounts of critical thinking to each