You are to develop a risk management plan for the Pierce family. Your plan should incorporate insurance and noninsurance recommendations. Provide a complete explanation of your assumptions. Remember to make the work your own. Case facts: Joe, 37, self-employed carpenter, four employees, nets $60,000 per year Anita, 37, part-time nurse, earns $30,000 per year Children: Nathan (12), Isaac (10), Charlotte (6), Lydia (3) Assets, in $ Personal Cash 12,000 Mutual funds 8,000 IRAs 15,000 401(k) 28,000 Car 20,000 ATV 5,000 Boat 10,000 Personal property 95,000 Home 245,000 Business Truck 30,000 Tools & materials 60,000 Liabilities Credit cards 6,000 Car 15,000 Home 168,000 Step 1: Identify and evaluate the risks faced by this family. (1/2 page) Step 2: Explain the noninsurance risk management techniques you recommend for this family. (1/2 page) Step 3: Recommend and explain appropriate insurance coverage for this family. (1/2 page) Step 4: Explain the retirement planning options you would recommend for this family. (1/2 page) Step 5: Explain the estate planning options you would recommend for this family. (1/2 page)