The purpose of this assignment is to provide a "hands on" experience to synthesize the personal finance concepts that you have learned throughout the semester by applying them to a "real life" individual or family. Here's what you need to do: Read the Personal Financial Case assigned to you.Each financial planning case encompasses a variety of ages, situations, and financial challenges to analyze. Feel free to add additional assumptions to the case as long as they are realistic for the situation and described in your report. Review the Financial Case Study Scoring Sheet to learn the criteria for grading this assignment. Prepare a written report of no more than five pages (double-spaced, double between paragraphs) about the case study and your analysis and recommendations. Your financial case analysis should include the following items, as appropriate: A discussion of the strengths and weaknesses of the individual or family's financial situation Correction of any misinformation that the individual or family has about financial topics Comments about the individual or family's cash flow Comments about emotional issues related to the individual or family's financial situation Calculations of the savings required to reach financial goals 3 to 5 recommended action steps to improve the individual or family's financial situation Recommended financial products such as bank accounts, insurance policies, and mutual funds (real products found through research). Available resources that can assist the individual or family to improve their finances Any other information that you feel is useful and germane to the case References for source materials used to analyze the case (feel free to use your textbooks, class notes, Web sites, financial publications, and other resources to assist in your analysis). APA format throughout, including a cover page with your name and section on it. Financial Case Study Scoring Sheet Name: Case # Identification of the Family’s Financial Problems: Maximum Points to be Awarded Evidence of logical structure and organization in the analysis of the financial case study. 10 points Thoroughness, correctness, and depth of understanding of the personal finance issues in the case. 10 points Understanding of the relationship of the immediate problems in the case to the family’s short-, medium-, and long-term financial security. 10 points Solution to the Family’s Financial Problems: Creativity, innovativeness, and feasibility of the proposed solution(s). 15 points Clarity of the proposed short-, medium-, and long-term courses of action. 15 points Completeness of the documentation of research and information sources. 10 points Overall Quality of the Paper Logical organization and structure of the paper 10 points Professionalism and style of paper, including additional research and attachments to the paper 10 points Overall effectiveness and persuasiveness of the analysis 10 points Total Points Awarded 100 total points _______________________________________________Personal Finance Case #13 Joe and Pat Ise, 56 and 55, are rethinking their retirement plans. Originally they had planned to retire this fall and move two hours west to Pennsylvania, where the cost of living is cheaper. Both presently commute over an hour a day to Bergen County and New York City, respectively, and their long commutes are taking their toll. They get up at 4:30 every workday to arrive at work on time. The couple has one adult child, age 27, who is married and living on his own.The problem is that the value of the Ise's retirement investment portfolio has been substantially reduced during the past two years. Three years ago, they had $520,000 saved and today their portfolio is worth $395,000, despite steady deposits over the last two years.The Ises admit to making all the classic investment mistakes: investing too much in the technology sector and employer stock in Joe's 401(k) plan, not carefully researching investments by reading annual reports and prospectuses, relying on "water cooler tips," and selling in a panic when the stock market tumbled. "We should have stayed in bonds or CDs," says Joe, "but we got greedy."Even with their recent losses, the Ises have an impressive $758,000 net worth. Their assets include $50,000 in CDs, $30,000 in a bank money market deposit account; $120,000 in eleven growth mutual funds; $117,000 in Pat's 401(k); $105,000 in Joe's 401(k); $53,000 in IRAs; two cars worth $28,000; a $300,000 house; and $50,000 of personal property. Their debts include $8,000 owed on five credit cards; a $72,000 mortgage balance; and a $15,000 home equity loan. Neither spouse has any other retirement benefits (e.g., company pension). Joe's company has just stopped matching 401(k) deposits due to a downturn in business and halted all health coverage for retirees. Pat's company matches up to 3% of her pay in her 401(k) plan and charges retirees $500 per month for health coverage. Together, the Ises earn $147,000. Joe is skilled in antique auto restoration and has been itching to start a small business after retirement. To date, he has simply been too busy. He currently has a client, however, who will pay him $15,000 this year to restore a car and is willing to wait for as long as it takes to finish. The couple has adequate property insurance, a $1 million umbrella liability policy, $500,000 of term life insurance apiece, and disability insurance that provides each with a $3,000 monthly income benefit. They are currently considering the purchase of long-term care insurance.The Ises also have a will that names their son as beneficiary and Joe's brother as executor. Joe's brother is very ill, however, with advanced stage prostate cancer so they are considering other options. No contingent executor or beneficiary is presently named.

InstructionsSupporting Lectures:Review the following lecture:Financing HealthcareBefore beginning work on this assignment, please review the expanded grading rubric for specific instructions relating to content and formatting.A Cost-Effective Analyses (CEA) is an example of one of the established processes used by finance managers in healthcare. By using a set of tools related to different types of program costs, managers can evaluate and/or compare programs so that informed choices can be made. CEAs assist managers in determining which program will provide quality outcomes when compared to the costs the organization would incur. Although this sounds like a simple process, there are many variables to consider.Step 1: Research and discuss the following terms in a 1- to 2-page document:Opportunity costInitial costsContinuing costsInduced costsAverted costsFixed costsVariable costsStep 2: Using one of the studies listed below, research the topics and then formulate two processes to achieve positive outcomes. Then, compare the costs of the two processes by conducting a CEA. You may have to create control and outcome numbers, as well as estimate the costs of each component of the CEA. Use of a comparison table is encouraged. See an example below:How to do a basic cost-effectiveness analysis. (n.d.). Retrieved from http://www.tools4dev.org/resources/how-to-do-a-basic-cost-effectiveness-analysis/Increase the number of children receiving an annual flu vaccine in a pediatric clinic.Decrease the number of “no-show” patients with appointments in a physician’s office practice.Decrease resident falls in a 100-bed nursing home.Decrease medication errors in a 500-bed acute care hospital.Decrease wait time in a hospital emergency department (ED).Step 3: Finally, from research, how can the program's quality outcomes be measured? No calculations are necessary.To support your work, use your course and textbook readings, credible Internet sources, and also use the South University Online Library. As in all assignments, cite your sources in your work and provide references for the citations in APA format.Submission Details:Your assignment should be addressed in a 4–5-page document, not including your title and reference page. Much depth and discussion from thorough research is needed to complete this heavily weighted assignment.Submit your documents to the Submissions Area by the due date assigned.