You are an investment counselor, and your new 65-year-old client has come in for some advice. He is considering retiring in a year and wants to know more about how to make a return suitable for retirement income and still maintain his principle initial investment. Like most people, he knows very little about investing money and the many different investment securities available to him. Discuss what you would tell him.

Your parents have accumulated a $170,000 nest egg. they have been planning to use this money to pay college costs to be incurred by you and your sister, courtney. however, courtney has decided to forgo college and start a nail salon. your parents are giving courtney $20,000 to her get started, and they have decided to take year-end vacations costing $8,000 per year for the next four years. use 8 percent as the appropriate interest rate throughout this problem. use appendix a and appendix d for an approximate answer, but calculate your final answer using the formula and financial calculator methods. a. how much money will your parents have at the end of four years to you with graduate school, which you will start then?