1) Taking the role of a financial planner, let’s say you have a client (named Jane), who is a single mother of two. Jane is 28 years old. She makes 80,000 per year which is expected to grow 2% per year until age 67.Due to attractive interest rates , Jane just bought her first house. She lives in Denton, but drives to work each day in Frisco in a vehicle that she purchased, but is not fully paid for. What types of insurance does Jane need to have protection (mitigate risks) in all aspects of her life ? Describe at least five types of insurance you would advise Jane to acquire based on her current needs, and provide the rationale for each type.2) In addition to your insurance recommendations for Jane, she would also like recommendations for investing and retirement planning . Note that Jane’s employer has a retirement plan (401k) whereby Jane can choose from several mutual funds to invest in. Her employer, provides a 5% matching contribution.Describe thetypeof mutual fund(s) you would advise Jane to acquire and provide the rationale for each type(s) and also an amount to invest. Also, provide a savings goal (amount needed for retirement as well as an income stream) for Jane that would provide for life expenses during retirement. Jane would need to replace 80% of her projected salary at 67 years of age. You can use this tool to assist you in calcualting an investment goal that would provide Jane her replacement income until age 97Retirement Goal Amount. (Links to an external site.)You should use historical returns for your mutual fund asset class as Jane’s portfolio return. Use this tool to assist you for this portionContribution Calculator (Links to an external site.)3) Jane has a religious aspect of her life and her particular religion does not accept the use of blood transfusions or blood products . In case of serious injury (severe body and/or mental impairment), Jane would want her sister to be placed in charge of all medical and financial decisions . If Jane is gravely injured and there is no chance of recovery (no brain activity), she does not want to placed on life support. Jane also does not want extraordinary measures to be taken to resuscitate her by medical personnel.Also very important to Jane is providing for her children in case of her demise and making sure that Jane’s wishes regarding her children’s support and education are fulfilled. She would desire for her sister to be the children’s guardian.Provide all elements and rationale for the various aspects of estate plan recommendations that Jane should implement.Note that the Mini – Financial Plan Discussion will be graded per the quality and comprehensiveness of your answers.