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CS 1.docx - Financial Planning Case 1 Main Financial...

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Financial Planning Case 1Main Financial Planning Issues:Situation 1:Fran and Ed Blake are 43 and 47 years old with a college freshman daughterand a high school sophomore son. They have $22,000 in savings for their kid’s education.They must figure out whether this is enough money for both children to finish college.Fran Blake’s elderly mother is in a nursing home and cannot cover the full monthly costof living there. Both Fran and her husband Ed must figure out how to ensure these costswill be covered for the remainder of her life. Fran and Ed have made annual deposits to aretirement fund, and have enough money to support themselves presently, but may needto access the funds.Situation 2:Patrick Hamilton lost his job due to a company merge - moving its offices toanother state. Patrick has only 3 months of living expenses in his savings account, withflexibility in the short term, but he must figure out his next course of action before thethree months are up and he goes bankrupt.

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Term
Fall
Professor
Padula

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