Describe how budgeting and financial planning are important

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Assignment Questions (Total 100 marks) IN YOUR OWN WORDS You need to prepare a report to answer the questions below related to the 3 couples above. Your report needs to explain and discuss issues asked in the questions below and related to the 3 couples, specific circumstances. 1. Describe how budgeting and financial planning are important to help each of the 3 couples meet their goals and objectives. (20 Marks) 2. Discuss the key differences and the advantages and disadvantages of the following investments. Comment specifically on the suitability of each of these investments to each of the clients above. Explain and justify your answer. a. Direct investment vs. investment via Mutual trust/Managed funds b. Government vs. Corporate bonds c. Use of Gearing (borrowing to invest) compare with not using Gearing d. Defensive assets investment vs. Growth assets investment (40 Marks) 3. Explain the concept of risk management and why it’s important to consider insurance as part of risk management highlighting. List 1personal and 1 general insurance recommendations to each of the 3 couples and explain why they would be considered by each of the 3 couples (you need to list and explain 2 recommendations for each of the couples, 6 in total) (10 Marks) 4. Explain why it’s important to consider superannuation as part of saving for retirement and retirement palming. List and explain 2 possible superannuation/pension recommendations or strategy and explain why they would be considered by each of the 3 couples (you need to list and explain 2 recommendations for each of the couples, 6 in total) (10 Marks) 5. Explain why it’s important to consider having a valid will and an appropriate power of attorney as part of the couples’ estate planning highlighting the benefits and risks as applicable. In your answer relate specifically to each of the 3 couples individual circumstances. Report Presentation (10 Marks) Your report needs to be professionally presented and reader friendly

 
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