Calvin Seeks the Good Life: Case Problem 12.2

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FIN 333 Week 2 Assignment Calvin Seeks the Good Life: Case Problem 12.2 Ryan Lisonbee Independence University Authors Note: Calvin Seeks the Good Life: Case Problem 12.2 “The safe way to double your money is to fold it twice and put it in your pocket.” - Kin Hubbard, (Brainy Quotes, 2015) Calvin Jacobs is a widower that has worked hard for more than 30 years and has been overall pretty responsible with his finances. Calvin and Allie, his late wife, always tried to save money every month but their efforts hadn’t made them millionaires by any means. Calvin had well over six figures in CD’s and savings accounts that were liquid assets that were held at his bank (Smart, Gitman, & Joehnk, 2014). Calvin was even smart enough to buy a house just down the block from him and is able to rent it out. The rental income is large enough, that he is able to pay both of his mortgages. Calvin receives $4,500 a month from his extremely generous company pension combined with his Social Security, also a portion of the income is tax free (Smart, Gitman, & Joehnk, 2014). He has never before treated himself and touched his retirement accounts and has remained quite disciplined. Calvin and his late wife Allie, often would lay in bed at night and talk about all of the places and sites they were going to see as soon as they financially could support it. It’s been just over one year since Allie’s passing and Calvin has taken it hard. He rarely leaves the house and has fallen out of contact with many of his friends. One night, resting in bed trying to sleep, he was thinking of his late wife and their frequent dreams they shared to someday travel. That night he decided he was not going to waste the rest of his life holed up in his house waiting to die. Calvin made a promise to himself and to Allie that he would go to the

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