92%(13)12 out of 13 people found this document helpful
This preview shows page 2 - 4 out of 5 pages.
⁃total contributions for his retirement savings from both parties⁃all his assetse)What can we ask the client?⁃when will his mortgage finish? (primary expense)⁃how often would he want to travel?⁃does his wife have any kind of retirement plans or savings?⁃would he consider investing on other qualified investments?f)Are there any similar situations/problems?-RESP, and CPP
Question 2 - Formulate one or more problem statements:⁃How long would Bob’s retirement savings be able to support him and his family?⁃Will he be able travel extensively with current and future expenses considered?⁃Does he need to retire at his minimum or maximum target age; does he need to contribute to its maximum?Question 3 - What are the decisions, outcomes, and relationships in the problem:Decisions⁃retirement age⁃max his contribution up to the limit⁃manage more of his investmentsObjectives/Outcomes⁃Retire between age 60-65⁃be able to travel extensively once retired⁃adequate money to live a modest life and spend for the rest of his life⁃