Mary Ann Lambert.docx - SWOT Analysis \u2013 Mary Ann Lambert Strengths Mary has a good job and a stable income Mary has a good net worth for her age

Mary Ann Lambert.docx - SWOT Analysis – Mary Ann Lambert...

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SWOT Analysis – Mary Ann Lambert Strengths: Mary has a good job and a stable income. Mary has a good net worth for her age. Adequate emergency funds. Weakness: No estate planning. Has not started saving for children’s college education. Poor housing-cost-to income ratio. Hard to go back to school and work while raising two kids as a single parent. Deficient health insurance policy. Unrealistic goals given current savings and investments. Opportunities: Mortgage rates are favorable for refinancing. Can reinvest CD’s elsewhere at a more favorable rate. Could obtain her master’s degree and increase income. Plenty of opportunities to cut variable costs. Opportunity to contribute more to her company’s profit sharing. Threats: The current cost of college (room, board, and tuition) is $15,000 per year per child. Economy is slow and unemployment is high, so investments may not provide expected returns.
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Unformatted text preview: Goal: Mitigate risks of catastrophic losses by maintaining appropriate insurance coverage while paying efficient premiums Within 6 months, modify Life insurance to include Goal: Provide inflation protected retirement income, assuming life expectancy of 92 years of age Retire at age 62, with an 80% wage replacement thereby, maintaining lifestyle Retire at age 65, with an 80% wage replacement thereby, maintaining lifestyle Goal: Develop an appropriate estate plan consistent with transfer goals Develop a will for Mary Goal: Arrange income tax affairs so that income tax liability is minimized and take advantage of tax law incentives Reduce tax payments to the minimum amount allowable by law Goal: Accumulate capital, through saving and investing, for the purchase of personal property, educations and emergencies. Save for college tuition so that money is available when Becky and Jack begin college...
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  • Fall '17
  • Schafer

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