Instructions on Assessment Essay, Research Paper Help.His gross annual salary is curTently œ45,000 and he is a member of the teachers pension scheme.

Instructions on Assessment: The assessment will be based around the following scenario Scenario: Assume you have had a preliminary meeting with Mr & Mrs Evans regarding their financial circumstances. Mr. Evans is a 30 year old university lecturer. His gross annual salary is curTently œ45,000 and he is a member of the teachers pension scheme. He is in good health, and sees no reason why this should change in the near future. Mrs. Evans, is also aged 30, also in good health, and has a middle management position in an insurance company earning œ35,000 p.a. (gross). They have 2 children, a boy aged 2 and a girl aged 1. At present Mrs. Evans does not have a pension provision. The couple culTently rent a two-bedroom apaitment in the city for œ780 per month. They are considering the purchase of a house approximately œ160,000 which they expect will require a 15% deposit and a repayment mortgage on the balance. The Evans have been saving for the deposit and set-up costs for the house and currently have œ25,000 in a savings account They are however aware of additional professional fees (estimated cost œ2000) and furnishings (estimated cost œ3000) that may be needed. The main reason for your involvement is that Mr. Evans has recently inherited the portfolio of shares detailed below which has a cash balance of œ2,500. Having had preliminary discussions with the couple they have made it clear that at present their main priorities are to; i. In the short term a. Pay off both of their student loans total outstanding œ10,000 b. Fund the purchase of and move to a new house ii. In the longer term a. Provide for their childrens higher education in case the need arose b. Save sufficient to purchase a holiday home somewhere warmer in Europe with a cuiTent guide price of œ200,000 so that it is available by the time they are 50 years of age.


 

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