A farmer has 200 acres of land available for growing corn and soybeans. The cost of growing corn is $60 per acre, while the cost of growing soybeans is $80 per acre. The farmer has a maximum of $12,000 available to spend growing the crops. Each acre of corn requires 20 hours of labor and each acre of soybeans requires 10 hours of labor. The farmer has a maximum of 3000 hours of labor available. If the farmer expects to make a profit of $200 per acre on corn and $150 per acre on soybeans, how many acres of each should be planted to maximize the profit

The financial planning has roughly the same structure. Even in their later stages of life, they need to prepare and pre-save for any major risks that may occur. Having a spouse and children may increase this risk as well. It’s important to set aside a little future college money for their kids, maybe an allowance, ect. Their savings when it comes to risk management should also be increased. Having to not only prepare for accidents with themselves, they now also have to prepare for any accidents including their children and spouse. Saving money for assets is also important, going in debt would put the whole family in danger so making sure house/apartment payments, car payments, taxes, ect., is needed.