Mrs. S and Mr. M are less than 20 years away from retirement. They have one child in college and one in high school. Their primary goals are to help children with their college expenses and retirement plan. Currently, the balance in Mr. M pension plan at work is $102,000. This balance is smaller than he would have liked due to fluctuations in the stock market. The investment plan that they started many years ago is now worth $35,000. At this point, Mrs. S and Mr. M want to evaluate their retirement plans and determine whether they will have enough to fund their retirement. Character in this case: Mrs. S and Mr. M. Adequate information: Monthly gross income is $8,000. Living expenses is $6,500. Assets are $230,000. Liabilities are $85,000. To explain: Use of retirement forecast income sheet to arrange necessary funds to cover retirement living costs. Introduction: Retirement housing, lifestyle and forecast income enables an individual to predetermine the expenses after retirement and help to make necessary steps to meet retirement goals.

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Chapter 18, Problem 3CC

Summary Introduction

Case summary:

Mrs. S and Mr. M are less than 20 years away from retirement. They have one child in college and one in high school. Their primary goals are to help children with their college expenses and retirement plan. Currently, the balance in Mr. M pension plan at work is $102,000. This balance is smaller than he would have liked due to fluctuations in the stock market. The investment plan that they started many years ago is now worth $35,000. At this point, Mrs. S and Mr. M want to evaluate their retirement plans and determine whether they will have enough to fund their retirement.

Character in this case: Mrs. S and Mr. M.

Adequate information:

Monthly gross income is $8,000.

Living expenses is $6,500.

Assets are $230,000.

Liabilities are $85,000.

To explain:

Use of retirement forecast income sheet to arrange necessary funds to cover retirement living costs.

Introduction: Retirement housing, lifestyle and forecast income enables an individual to predetermine the expenses after retirement and help to make necessary steps to meet retirement goals.

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