Assets

Savings (cash/money markets) $350,000 Investments (mutual funds) $2,500,000 Educational savings $100,000 Home $3,000,000 Rental property $500,000 Autos $200,000 Personal property $250,000 Life insurance $1,000,000 Total $7,900,000 Liabilities Credit cards $75,000 Car loans $100,000 Home mortgage $1,000,000 Personal line of credit $125,000 Total liabilities $1,300,000 Equity $6,600,000 Total Liabilities and Equity $7,900,000 Income Statement Income E & A, LLC income $2,000,000 E & A, LLC expenses $1,500,000 Rental income $24,000 Investments $50,000 Total Income $574,000 Expenses Credit card payments $45,000 Car loan payments $18,000 Mortgage payments $60,000 LOC payments $15,000 Household $80,000 Entertainment $65,000 Gasoline $6,000 Home insurance $10,000 Home maintenance $25,000 Health insurance $12,000 Property taxes $30,000 Rental property insurance $2,000 Rental property maintenance $6,000 Income taxes (effective rate: 26%) $149,240 Total Expenses $523,240 Net Income $50,760

Assuming 2% inflation and 6% return on investments.

Propose budget recommendations that fit with the clients financial data that address the opportunities identified. Address the following in your response and include any assumptions used in making your recommendations: Financing strategies Debt management Cash-flow management Income Expenses