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15. Uh-oh Franklin’s grandma is not well. She is on Medicare and needs home care services. She takes some very expensive medicines. Doesn’t Medicare pay for all this? _ ______________________________________________________________________________ _ ______________________________________________________________________________ _ ______________________________________________________________________________ 16. Franklin’s friend Frannie has decided to work until she’s 65. She figures she needs to have enough of a retirement fund to support herself for about 10 years after working. Could she run short of money? What do you advise to avoid this problem? _ ______________________________________________________________________________ _ ______________________________________________________________________________ _ ______________________________________________________________________________ 17. At 35, Franklin is one of the oldest guys in his office. He’s already feeling the heat from the 20-somethings during their lunch time hoops. He needs to work until he’s 65 to have enough to retire but he’s worried that he’ll be forced to retire. Is there any law that protects him ? _ ______________________________________________________________________________ _ ______________________________________________________________________________ 18. Franklin’s grandma is having financial problems. She’s 85. Social Security does not cover all of her living expenses. She does have a sweet little house that she bought in 1975. The mortgage is paid off. She wonders if there is any way she can tap into the equity in her home for some financial relief. _ ______________________________________________________________________________ _ ______________________________________________________________________________ _ ______________________________________________________________________________ _ ______________________________________________________________________________ 19. Franklin is single and living a low cost lifestyle. He shares a house with four friends. They take the bus to work, buy their clothes from a consignment store, and split the grocery bill. They totally live on the cheap. Franklin can't imagine life any other way, so he has based his retirement cost projections on this lifestyle. What's your advice? _ ______________________________________________________________________________ _ ______________________________________________________________________________ _ ______________________________________________________________________________ PRODUCT PREVIEW
THE 21st CENTURY STUDENT’S GUIDE TO FINANCIAL LITERACY 189
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