Financial Advice For Robin Banks

1303 WordsNov 21, 20166 Pages
Mr Turvey, Accounting Financial Advice for Robin Banks Term 4, Personal Finance NEBAUER, Emma 11/18/2016 INTRODUCTION Personal finance is the management of how a family or individual obtains, budgets, saves and spends economic income over time, taking into account various financial risks and future life events (University, 2016). The importance of managing your finances comes down to what life you wish to live. By setting goals, and meeting them, will allow for positive finances. To best advance personal finances an individual could embark on investment options. An investment is the process of committing money, or capital, into an endeavour with the expectation of receiving additional income, or profit (Investopeida, 2016). This means that the investor is simply making their money work for them. It allows your money to go further than what you can personally earn for yourself; it expands the income that is coming in. The purpose of this report is to provide recommendations that will allow the client to meet and/or exceed their financial goals. This is to be represented through a discussion of relevant financial strategies - including those of investment options - the client’s goals, and the management of the risks involved with the client’s requests. CASE STUDY The client, Robin Banks, has approached Turvey Financial Advisors in order to seek advice on how she should plan for her financial future. Ms Banks is a 55 year old retiree, who upon her husband’s passing

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