Besides the investment portfolio advice on question 3, what are…

Question Answered step-by-step Besides the investment portfolio advice on question 3, what are… Besides the investment portfolio advice on question 3, what are some additional advice on other aspects of personal financial planning that you can give to this couple? (3 marks) INFORMATION NEEDED You work as a personal financial adviser in a small town in Nova Scotia. Today you have an initial meeting with your new clients: the family of Pamela, 40 years old, and Isaac, 45 years old. They present you with the following information:Financial data:Monthly Income: $6,800Living Expenses: $4,900Assets:           $235,000Liabilities:             $52,000Emergency fund:           $7,000Financial Goals:Evaluate current financial conditionsBuild an investment portfolio that considers various risk factorsWith approximately 20 years to retirement, Pamela and Isaac McDonald want to establish a more aggressive investment program to accumulate for their long-term financial needs. Isaac has a retirement program at work. This money, about $75,000, is invested in various conservative mutual funds and government bonds according to the fund’s policy (Isaac chooses to keep it in a conservative investment portfolio to make sure he does not lose all of this fund). At home, they are having another investment fund between them, which is worth $25,000, currently buying GICs and put in various bank deposits. In addition to their investment program, the McDonalds have accumulated $12,000 to help pay for children’s education. They have two daughters, aged 7 and 10. And they have $7,000 tucked away in a savings account that serves as the family’s emergency fund. Finally, both will qualify for the Canadian Pension Plan when they reach retirement age.  Business Finance BSAD 345 Share QuestionEmailCopy link Comments (0)