Austin and Jenifer are both 35 years old with two (2) children ages 7 & 9. Austin
Question:
Austin and Jenifer are both 35 years old with two (2) children ages 7 & 9. Austin works as an IT Manager with a medium-size firm and his salary is $120,000 annually. Jenifer stays at home with their children and works part-time earning approximately $10,000 to $15,000 a year. They had no other debt except their home for which they owe $260,000. Austin has a present 401k balance of $100,000 and a Roth IRA with around $50,000 which they plan to use for college. Their family is covered under a company-provided health care plan. Their monthly expenses usually trend around $6,000 per month. They are in the 22% federal tax bracket and live in a state with no sales tax.
-Explain how you (the financial planner) would position the applicable and needed insurance solutions to fit both the client's budget and needs.
-Explain why and how you came up with your proposed solution.
-Use real-time experiences (if applicable) to explain past solutions.
South Western Federal Taxation 2015
ISBN: 9781305310810
38th Edition
Authors: William H. Hoffman, William A. Raabe, David M. Maloney, James C. Young