You have learned the basics of investment and retirement planning. Your investing project includes everything you have
Question:
You have learned the basics of investment and retirement planning.
Your investing project includes everything you have learned the whole semester. Below you have a scenario. You are to evaluate your finances. You are to make an investment plan for this family.
What type of risks are they willing to take?
What are their investment options?
What do they need most?
What will their future hold?
What will they do in retirement?
Where will their income come from?
What do they do with their assets?
Do they have options other than stocks?
What suggestions do you make for them?
Each question above should be fully answered, with a minimum of 25-50 words per answer. You must use correct spelling, grammar, punctuation, and capitalization, along with proper formatting, including title page, page numbers, citations, and references.
The Washington Family
Joe Washington - 37 - mechanic - annual salary $50,000
Mary Washington - 36 - teacher - annual salary $40,000
Susie - 10
Little Joe - 7
They own their house for $150,000 with a mortgage of $105,000. Payment with taxes and insurance is $1250
Assets
1999 Honda Accord Value $5,000 no loan
2015 Honda Odyssey Value $20,000 loan $5,000 12months left at $600
2 acres in the country and a mobile home - $20,000
IRA - Joe $50,000
Susie - no IRA but state retirement when she hits 65 for $2,000 a month
Checking account at ABC bank $2000
Money Market Savings $10,000
529 college fund Susie $8,000
529 college fund Little Joe $3,000
Expert Answer:
What type of risks are they willing to takeThe familys risk tolerance is not specified but given their current financial situation its advisable to ch... View the full answer
