Complete the attached case study using eMoney software and then type a report, i

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Oct 18, 2021


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Complete the attached case study using eMoney software and then type a report, including pictures. Sample cases and how to build a case study have been included.
eMoney login information will be available to the assigned wirter.
The Case Study has to include Monte Carlo from eMoney and the upside and downside (light blue and dark blue)
The equity glide path has to be in the case study as well. Asset Allocation. All of this is done to control sequence risk in order to reduce longevity risk.
Candi and Bob Sweet own a boutique truffle shop that offers delectable treats that are enjoyed by local residents. Like many entrepreneurs, the Sweets have been ve1y focused on their business and have sacrificed much, including not planning for their own retirement. However, Bob’s recent 55th birthday bash sparked their interest and focus on retirement and retirement planning. They have come to you to assist them with planning for their retirement and to assist them with their family business.
They want their financial plan to be flexible enough to meet their goals. They believe they will benefit from meeting with a CERTIFIED FINANCIAL PLANNERTM practitioner and arrived with the following information for you to assist them in creating a plan to meet their financial goals.
Bob Sweet
Bob is 55 years old and is currently the president of Truffle Times. He was raised in the south as a member of a large family and learned to cook from his mother, Lori, who cooked daily for the entire family. He is currently in ve1y good health, exercises regularly and competes in local runs and sprint triathlons. Bob and Candi are hands on with both kids in school, Cinnamon and Pepper, and have high hopes for their oldest child, Sam.
Candi Sweet
Candi is 45 years old and is currently the CTO (Chief Truffle Officer), in charge of all of the candies that are created and sold. She was raised in Seattle, but moved to New Orleans to attend culinary school. She spent two years working with Emeril Lagasse at Commander’s Palace as the pastry chef. She spent her childhood learning to cook from her grandmother,Betty,who ownedaverypopulardiner.Candiisalsoingoodhealthandlikestorunand cycle.
Cinnamon Sweet
Cinnamon (age 16) is a junior in high school. She works part time at Truffle Times, volunteers at Children’s Hospital as a candy striper, and plays on the high school volleyball team. She is also an avid runner.
Pepper Sweet
Pepper (age 17) is a senior in high school and spends most of his time practicing with the baseball and football teams as well as studying for his classes. He does not work at the family business, but he is interested in running the business someday.
Sam Sweet
Sam (age 25) is a bright young man who graduated from college with a BA in History and a MS in History. He is currently working at Truffle Times as a vice-president over supply chain management. In reality, this means that he gets supplies for the kitchen and coordinates the boxes for shipping truffles. He has never had another job but would like to run Truffle Times.
Bob and Candi have expressed the following goals:
I. They would like to retire when Bob is age 60 with $250,000 of annual income in today’s dollars. They expect Social Security will reduce what they need to save. For planning purposes, they plan on living until Bob is age 100.
They want to pay for their children’s college education and expect Cinnamon and Pepper will attend col- lege for 5 years each and will need about $60,000 per year in today’s dollars. They expect that the cost of tuition will continue to increase at 6% per year, which has been the trend lately.
3. They want to purchase a 40-foot sailboat when they retire so they can sail around the world. They expect they will purchase a boat that is about $300,000 in today’s dollars. They expect that the cost of the boat will increase at the general rate of inflation. This acquisition will increase their annual operating costs, but any increase should be covered in the $250,000 of annual income needs.
4. They want to decide what to do with Truffle Times in terms of transferring it or selling it. They are certainly open to discussing other alternatives.
5. They would like to figure out how to reduce their income tax burden.
• • • • •
• • •
INVESTMENT RETURN EXPECTATIONS The Sweet’s required rate of return is 8%.
Expected Return
Cash and Money Market Fund 2.5% Treasury Bonds/ Bond Funds 4% Corporate Bonds/ Bond Funds 6% International BondFunds 7% Index Fund 9% Large Cap Funds/Stocks 10% Mid/Small Funds/Stocks 12% International Stock Funds 13% Real Estate Funds 8%
General inflation (CPI) is expected to be 3% annually.
Education inflation is expected to be 6% annually.
They live in the state ofTexas which has no state income tax.
Raises are uncertain but in the long run are expected to be equal to general inflation (CPI).
The economy is in a slow growth recovery from a recession with moderate to high unemployment.
Mortgage 30 years – conforming rate = 4.0%
Mortgage 15years-conformingrate= 3.75%
Any closing costs associated with mortgage refinancing are an additional 3% ofthe amount mortgaged.
Standard Deviation
2.0% 4.0% 5.0% 6.0% 14.0% 16.0% 18.0% 22..0% 12.0%
Statement of Financial Position Bob & Candi Sweet Balance Sheet as of January 1
Current Assets
JT Cash & Checking $15,000 JT Money Market $15,500 Total Current Assets
Investment Assets
H Brokerage Account $0 H IRA Rollover $28,000 w IRA Rollover $23,000 JT Truffle Times (est.) $4,341,552 JT Case Value of Life Insurance $32,000 Total Investment Assets
Personal Use Assets
JT Principal Residence (land $50,000) $600,000 H Porsche Cayanne $50,000
w Inflniti $45,000 JT Clothing, Furniture, Fixtures $100,000 Total Personal Use Assets
Total Assets
H = Husband (Sole Owner)
W = Wife (Sole Owner)
JT = Joint Tenancy with Survivorship Rights
JT Principal Residence Mortgage w Auto Loan
Total Current Liabilities Long-Term Liabilities
JT Principal Residence Mortgage w Auto Loan
Total Long-Term Liabilities
Total Liabilities
Total Net Worth
Total Liabilities & Net Worth
$9,129 $12,414
$533,924 $27,586
Cash Inflows
Bob Salary & Bonus
Candi Salary
Distribution from Truffle Time to pay Taxes
Total Cash Inflows Taxes
Federal Income Taxes Withheld – Bob Federal Income Taxes Withheld – Candi Federal Estimated Tax payments
Bob Social Security Taxes
Candi Social Security Taxes
Bob & Candi’s Additional Medicare Tax Withholding Property tax Principal Residence
Total Taxes
Debt Payments
Principle Residence Auto Loan (Infiniti) Other
Total Debt Payments Living Expenses
Utilities Principal Residence Gasoline for Autos
Lawn Service
Church Donations
Auto Maintenance
Satellite TV
Tuition for high school (both kids)
Total Living Expenses Insurance Payments
HO Insurance Principal Residence
Auto Insurance Premiums
Life Insurance Premiums (Bob & Candi) Liability Insurance
Total Insurance Payments
Total Cash Outflows
Net Discretionary Cash Flows
$250,000 $100,000 $125,000 $475,000
$20,000 $125,000 $11,511 $7,650 $450 $9,000 $222,979
$36,074 $14,821 $0 $50,895
$6,000 $2,400 $1,800
$10,000 $10,000 $3,000 $6,000 $0 $800 $6,500 $40,000 $86,500
$4,000 $12,000 $500 $20,500
$380,874 $94,126
Statement of Financial Position Bob & Candi Sweet Income Statement
Life Insurance
Bob has a whole life policy that he acquired while he worked in the corporate world. His former company paid the premiums for the policy, but now he pays the premiums. The policy has a face value of $2 million and has a monthly premium of $1,000. It currently has a cash value of $40,000. The crediting rate is 4%.
Candi has a term policy that is paid for by Truffle Times. It has a face value of $250,000 with an annual premium of $400.
Health Insurance
Bob and Candi are covered under the Truffle Times health policy. They believe the policy is satisfactory in every way regarding major medical, stop loss, etc.
Disability Insurance
Bob and Candi are covered under disability policies paid for by Truffle Times. The policies provide for a 90 day elimination period and provide benefits of 60% of gross pay up to age 65. The policies have an own occupation definition and cover both accidents and sickness. The annual premiums are $1,500 for each policy – $3,000 total.
Bob and Candi purchased new cars one year ago. Bob purchased a Porsche Cayenne and Candi purchased an Infiniti. They decided they would have Truffle Times pay for Bob’s car since it is an SUV and can be used to pick up supplies and make deliveries. Bob probably uses the car for actual business about 30 percent of the time. Truffle Times owns another delivery van that is used for picking up supplies and is used exclusively for the business. In addition, the van is painted with the Truffle Times logo, website and phonenumber.
Personal Residence
The Sweets purchased a new residence three years ago for $700,000 and financed 80 percent of the purchase price at five percent for 30 years. Unfortunately, the value of the property has declined significantly due to the housing market. It is currently worth less than what they owe on the property.
1. Bob’s Social Security retirement benefit at normal retirement age of 67 is $2,500 per month in today’s dollars.
2. Candi’s Social Security retirement benefit at normal retirement age of 67 is $1,666.67 per month in today’s dollars.
3. They borrowed $40,000 to purchase the Infinity at 7 percent for 36 months. Their monthly payment is $1,235.08.


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