• March 7th, 2016

Finance and Accounting

Paper, Order, or Assignment Requirements

Assume
(1) Both die at age of 90
(2) The ROR is 6% and inflation is 2% so real rate of return is 4%( needed for annuity calculation, PV and FV calculations
(3) The couple needs $100,000 annually after retirement
What I need from you please is
1- The answer has to be directly to the client (TOM AND TEA) because (The objective is to provide information that a client (not a professor) would like to have on how to help them retire comfortably)
2- Calculate (CPP for both) + (OAS for both) + (TOM’s old DB = Defined benefits and his DC= Defined contribution) + (TEAs DB) + (RRSP) +(TSFA) it would be great if you put them in a schedule and refer to the numbers in your writing. In you answer you have to tell what they will get when they retire and if they will get $100,000 annually. (Some calculation needs PV and FV calculations. Please use a financial calculator NOT EXCEL and show how you got your numbers)
3- Say whether this couple can make 100,000 annually and what they will need to do (based in your calculation.
4-Suggest that they pay their mortgage to retire without debts and put their common shares under their RRSP or sell them and put pay their mortgage (stock today’s price Canadian dollars)
5- Do not think or mention taxes at all. Assume there is no tax at all.
6-No sources needed
7- I will provide you an example of the calculation
8- Remember the calculation has to be in a schedule and the writing has to be directed to clients.

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