The Importance of Financial Plan in Money Management

You are advising the couple Bill and Teri Pugh. They have come to you for your wealth management advice.
For the written component, you are to draft a financial plan for the Pughs - including a section discussing where they are now, what the goals are, and how you recommend that they accomplish these goals. I would expect this portion of the assignment to be a minimum of 8 pages . This should be typed with 11 sized Times New Roman font, 1.5 spaced, 1 inch margins on all sides, and any external information should be footnoted (with any style you are comfortable - APA, MLA, etc.). It should be completed and turned in on Microsoft Word.
need graphs, charts, and title pages

The Story of Bill and Teri Pugh. Background Information: Bill Pugh was born April 15, 1971 in southern Alabama. Teri O’Shea was born March 23, 1971 in Niagra, NY. While attending school at the University of Southwestern Kentucky, Bill and Teri began dating and were married on September 12, 1998. They have no children. Bill has been employed as an attorney for a small credit union since June 1, 1998. Bill currently earns $40,000 per year from the credit union. Bill is also employed as a Professor at Arkansas State University. He has been employed for 9 years at ASU. Bill earns $100,000 per year from ASU. Teri is also employed at Arkansas State University and earns $30,000 per year. The couple has no other sources of income. Bill’s credit union employer and ASU provide health insurance for Bill. ASU provides Teri with health insurance. Bill purchases dental and vision insurance from the credit union for Teri and himself for $32.15 per month (pre-tax). The credit union provides life insurance for Bill as long as he works for the credit union equal to his pre-tax salary from the credit union. ASU provides life insurance for Teri equal to her pre-tax salary, as well as to Bill. Bill purchased an additional policy from ASU for $28.19 per month that is equal to 2 times his current salary. Bill has $23,412.87 in a retirement account through the credit union. The credit union offers a $1 to $1 match up to four percent (4%) of the employee’s salary. The investment into the retirement account would occur pre-tax. Bill does not take advantage of this benefit. The account is invested in a mutual fund that invests in high growth stocks. Bill is a member of the Arkansas Teachers’ Retirement System. On a pre-tax basis, 8% of Bill’s salary is automatically invested into the retirement system, while the University invests an additional 12%. Bill may retire at any point after he reaches the age of 63. Bill’s retirement annuity will be calculated in one of two ways: (1) Option A for Bill is that he will receive an amount each year equal to (the number of years employed) x (the average of his annual salary for his three highest paid years of working) x (2.1%) until Bill dies; or (2) Option B for Bill is that he will receive an amount each year equal to (the number of years employed) x (the average of his annual salary for his three highest paid years of working) x (1.65%) until the later of (a) Bill dies or (b) Teri dies. For example, if an employee works for 26 years; has the three highest annual salaries in that 26-year period of $45,000.00, $50,000.00, and $55,000.00; and chooses option A, then the employee would earn (26) x (50,000) x 2.1% = $27,300 per year until that person dies. Teri has an investment account where she invests 8% of her pre-tax incomes (and ASU matches it with 10% of her income) into a retirement account. She currently has $29,412.91 in the account. The account is invested in a mutual fund that mirrors the S&P 500. The Pughs own a home in Jonesboro, AR. The 1500 square feet home was purchased brand new in 2009 by the Pughs for $150,000. The Pughs financed the home with a FHA-mortgage (2% down payment, mortgage insurance required, first home) that carried a 4.5% fixed rate. The monthly payments are $1,000. The Pughs currently owe $136,725.61 on the home and appraises for $155,000. Bill owns a 2017 SUV that was financed at a rate of 5% and monthly payments of $450. He owes 62 (of the 78 original) payments. Teri owns a 2016 SUV that was financed at a rate of 5% and monthly payments of $500. She owes 61 (of the 78 original) payments. The SUVs have a total market value today of $45,000. Bill has 3 credit cards that have a 19.98% interest rate and currently have a balance of $2,013, $6,271, and $9,883. Teri has 1 credit card that has a 9.99% interest rate and currently has a balance of $10,655.17. Non-home and vehicle assets for the couple includes furniture ($12,000), jewelry ($2,500), electronics ($4,750), collectibles ($27,000) and miscellaneous items ($8,000). Their checking account has $9,814.76 in it. They have no other accounts. Neither person has a will, but the other person is listed as the beneficiary for all of the accounts and insurance policies. The Future: Bill and Teri enjoy what they do, but at some point, they do want to retire. They would like to work until they are 65, then retire. Upon retirement, they would like to move to eastern Tennessee in the mountains. Tennessee has no state income tax. They would like to downsize into a small cabin with about 1000 square feet (average price for property in that area is $90 - $105 per square foot). Bill wants to make sure Teri is cared for if he were to die before her. Bill and Teri believe that their Social Security funds would be enough to pay for their living expenses (food, utilities, and health insurance), but want to be able to travel 4-5 times per year both domestically and internationally. Upon their death, they would like to endow a travel scholarship for students at ASU. The minimum amount required to endow is $25,000.