Situation 3: Nina, age 23, recently received a $30,000 gift from her aunt. Nina is considering various uses for these unexpected funds including paying off credit card bills from her last vacation or setting aside money for a down payment on a vehicle. Or she might invest the money in a tax-deferred annuity for retirement purpose. Another possibility is using the money for technology certification courses to enhance her earning power. She is overwhelmed by the choices and comments to herself, “I want to avoid the temptation of wasting the money on impulse items. I want to make sure I use the money on things with lasting value.”

a. Identify the main financial planning issues that need to be addressed.

(10 marks)

b. Suggest any TWO additional information either quantitative or qualitative you need before making recommendation.

(20 marks)

c. Recommend the most appropriate TWO actions based on the information provided and your assessment of the situation,

(20 marks)

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