1. They need to evaluate and select appropriate investments, establish and implement a plan for retirement goals. The first thing they should do is to have an emergency fund saving account which they already have and meet the money they need according to their monthly expenses multiplied by 3 months; second, they can begin investing participating in an employer-sponsored retirement account.
2. Carefully manage increased need for the use of credit, investment fund for college.
3. Short term goals, long term goals:
For a short term goal they need around $4,445 per year, $370.42 monthly for college expenses, and for the time for a beach house they will need around 11,667 a year, $972.25 monthly.
The risk they may have to assume is prices can