Reference no: EM132996030

Question - You are instructing a financial planning course and you are asked to create a unique client scenario where the recommendation to the client is to use an secured line of credit. Your client scenario needs to include a minimum of four factors/characteristics that would lead to this specific recommendation. Explain your rationale for using those four factors/characteristics.

Barney and Betty are 48 years old and they are planning on retiring in 15 years. They have been diligently saving for their retirement. Barney has a defined benefit pension plan and he has been contributing a small amount to his RRSP each year. Betty has a group RRSP through her employer and they match 50% of every dollar that she puts in. They will also qualify for OAS and have been contributing to CPP. They want to retire and maintain their current standard of living (expenses) into retirement. Explain what the focal point would be if you were to do the retirement planning calculation and why. Explain how you would then compare what they have with what they will need.