ain FIN-210 Syllabus Question 1 - Topic 6 Continuing X + https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com ontinuing Case(Static) Saved ped Book 55. Investment Objectives The triplets are now three and a half years old, and Jamie Lee and Ross, both 38, are finally beginning to settle down in to a regular routine now that their children are a little more self-sufficient. The first three years were a blur of diapers, feedings, baths, mounds of laundry, and crying babies! Jamie Lee and Ross finally had a welcomed dinner out on their own as Ross's parents were minding the triplets. They were having a conversation about their future and the future of the triplets. College expenses, which they figured to be $100,000, and their eventual retirement seemed to be a major worry of the both of them. They both have dreamed of owning a beach house when they retire. That could be another $350,000 thirty years from now. They wondered how could they possibly afford all of this? They agreed that it was time to talk to an investment counselor, and they need to organize all of their financial information and determine their family's short- and long-term goals for investing before meeting with an advisor. Use the information below to complete their investment objectives and organize their information. Current Financial Situation Print Assets: Income: Checking account $4,500 Gross income (Jamie Lee) $45,000 Savings account $20,000 References Emergency fund savings account $21,000 Net income after taxes (Jamie Lee) Gross income (Ross) $31,500 $80,000 IRA balance $32,000 Net income after taxes (Ross) $64,500 Car (Jamie Lee) $8,500 Monthly Expenses: Car (Ross) $14,000 Mortgage $1,225 Liabilities: Property taxes $400 Student loan balance $0 Homeowners insurance $200 Credit card balance $4,000 IRA contribution $300 Car loans $2,000 Utilities $250 Food $600 Baby essentials (diapers, clothing, etc.) $600 Gas/maintenance $275 Credit card payment $400 Car loan payment Entertainment $289 $125 A B 1 How Much Description of Goal Money Do You Need? 2 Pay off credit card C D How Much E How Will You Obtain the Money? Time Is Needed? Level of Risk They Will/Can Assume? F Is this Goal Reasonable? 65F Smoke Mc Graw Hill Q 2 CO 3 # W HOL = PII Prtsen Fa Home 55 E R T Y U 8 End PgUp F F9 P h FIN-210 Syllabus Question 1 - Topic 6 Continuing X + https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheduc tinuing Case(Static) Current Financial Situation Saved Income: Assets: Checking account $4,500 Gross income (Jamie Lee) $45,000 Savings account $20,000 Net income after taxes (Jamie Lee) $31,500 Emergency fund savings account $21,000 Gross income (Ross) $80,000 IRA balance $32,000 Net income after taxes (Ross) $64,500 Car (Jamie Lee) $8,500 Monthly Expenses: Car (Ross) $14,000 Mortgage $1,225 d Liabilities: Property taxes $400 Student loan balance $0 Homeowners insurance $200 Credit card balance $4,000 IRA contribution $300 Car loans $2,000 Utilities $250 ok Food $600 Baby essentials (diapers, clothing, etc.) $600 Gas/maintenance $275 int Credit card payment $400 D erences Car loan payment Entertainment $289 $125 A B C D E 1 How Much Description of Goal Money Do You Need? How Will You Obtain the Money? How Much Level of Risk They Time Is Needed? Will/Can Assume? 2 Pay off credit card 3 Pay off car loan 4 Save for college tuition for the triplets 5 UT Save to purchase a beach house at retirement oke Mc Graw Hill F Is this Goal Reasonable? < Prev 1 of 1 Next