Written projects: Must be typed, double-spaced, in 12-point Times New Roman

Written projects:
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Must be typed, double-spaced, in 12-point Times New Roman or Arial font, with one-inch margins
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Must have the title page in APA-7th style
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Must have in-text citations in APA-7th edition style
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Must have a reference list in APA-7th edition style. Please note that you must reference the data you are using for the project
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Must be prepared using word processing software (Microsoft Word preferred)
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INSTRUCTIONS
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James and Harold are a married same-sex couple that has been together for seven years; they live in Harold’s house. Harold inherited money from his mother in a generation-skipping trust; the trust allows for distributions for health, education, maintenance, or support. For most years, Harold has not taken withdrawals from this account. However, the trust reverts to Harold’s brother if he has no children at his death. Harold has a will that
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leaves everything to his parents; Harold has a power-of-attorney and health care power-of-attorney that names his father as attorney-in-fact. Harold runs a successful consulting practice out of his home. Harold states he is relatively aggressive, and his investment account is almost entirely (90%) equity investments.
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James has no estate documents. James contributes $3,000/year to his 401(k), just enough to obtain his employer’s maximum matching contribution. In contrast, Harold contributes $10,000 / year to his
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SAR SEP IRA.
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James and Harold live a relatively extravagant lifestyle of dining out and vacations, funded primarily by Harold’s income and assets. However, James still provides primary support for his basic living needs.
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Neither James nor Harold has any life or disability insurance.
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James is the beneficiary of Harold’s SAR SEP IRA.
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James’ sister is the beneficiary of his 401(k)
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The primary residence mortgage is a 5/1 ARM 30-year loan and was taken out exactly two years ago. Harold has made 24 payments at a rate of 7.25%.
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James is currently paying a 16.99% annual interest rate on his credit card debt.
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GOALS
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1. Save for retirement
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2. Provide for each other in the event of death.
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NEXT Using the information attached about James and Harold, create a financial plan using MoneyGuide Pro (see
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below and attached for directions.).
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QUESTIONS
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Based on your MondeyGuide Pro financial plan for James and Harold:
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1. Summarize the MoneyGuide Pro recommendation in a three- to five-page (900- 1,500-word) report.
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2. Do you agree with the recommendations?
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3. Would you suggest they lower their risk tolerance?
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4. How would you reallocate Harold’s investments? (currently, they are 90% equity)
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5. How would you implement the recommendations? (prioritization, time, money)
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6. In your opinion, how often should Harold and James’ financial plan be monitored?
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MoneyGuide pro set up.
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Setup and Sharing Instructions: • You, and then each student, should go to http://learn.moneyguidepro.com to create a free account • Click the Register button • Read and agree to the license agreement • Create a User ID and Password • Use this Registration code (which is unique to your institution): 239680