Activity 8.5.docx - 1 How would you assess the strengths...

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1. How would you assess the strengths and weaknesses of the Lawrence’s financial condition at this stage in their lives? The Lawrence’s strengths are that they have a positive net worth and have a net surplus from their income after living expenses are paid. Both of these are good and they fact that they do have some retirement savings is better than most. However, they are 20 years away from retirement and need to ideally have a higher amount in their retirement savings to be able to maintain their current income amount through retirement. In addition, their living expenses are high compared to their income depending on their taxable rate of their gross income. With expenses from their children’s college and the urgency for saving for retirement causes a concern. It is important to save more money earlier to receive the largest benefit from compounding interest. 2. At their current ages, what should their major priorities be as they continue to plan for retirement?
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  • Summer '13
  • N/A
  • Retirement Housing and Lifestyle Planning

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