Continuing Case 55. Investment Objectives

Continuing Case 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 littie 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 ivere having a conversotion about their future and the future of the triplets. College expenses, which they figured to be $110,000, and their evenfual 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 $415,000 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 financiat information and determine their family's short-and long-term goais for investing before meoting with an advisor. Use the information bnlow to complete their investment objectives and organize their information: Liabilities: Student loan balance Credit card balance Car loans \begin{tabular}{rlr} & Property taxes & \\ $0 & Homeowners insurance & $530 \\ $5,300 & IRA contribution & $330 \\ $3,300 & Utitities & $430 \\ & Food & $315 \\ & Baby essentials (diapers, clothing, & $730 \\ & etc.) & $730 \\ & Gas/maintenance & $340 \\ & Credit card payment & $330 \\ & Car loan payment & $190 \end{tabular} \begin{tabular}{|l|l|l|l|l|l|} \hline \multicolumn{1}{|c|}{ Description of Goal } & \begin{tabular}{c} How Much \\ Monoy Do You \\ Need? \end{tabular} & \begin{tabular}{c} How Will You Obtain \\ the Money? \end{tabular} & \begin{tabular}{c} How Much \\ Timo is \\ Needed? \end{tabular} & \begin{tabular}{l} Level of Risk They \\ Wilican Assume? \end{tabular} & \begin{tabular}{c} Is this Goal \\ Roasonable? \end{tabular} \\ \hline Pay off credit card & & & & & \\ \hline Pay off car loan & & & & & \\ \hline \begin{tabular}{l} Save for college tuition for \\ the triplets \end{tabular} & & & \\ \hline \begin{tabular}{l} Save to purchase a beach \\ house at retirement \end{tabular} & & \end{tabular} Continuing Case 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 littie 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 ivere having a conversotion about their future and the future of the triplets. College expenses, which they figured to be $110,000, and their evenfual 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 $415,000 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 financiat information and determine their family's short-and long-term goais for investing before meoting with an advisor. Use the information bnlow to complete their investment objectives and organize their information: Liabilities: Student loan balance Credit card balance Car loans \begin{tabular}{rlr} & Property taxes & \\ $0 & Homeowners insurance & $530 \\ $5,300 & IRA contribution & $330 \\ $3,300 & Utitities & $430 \\ & Food & $315 \\ & Baby essentials (diapers, clothing, & $730 \\ & etc.) & $730 \\ & Gas/maintenance & $340 \\ & Credit card payment & $330 \\ & Car loan payment & $190 \end{tabular} \begin{tabular}{|l|l|l|l|l|l|} \hline \multicolumn{1}{|c|}{ Description of Goal } & \begin{tabular}{c} How Much \\ Monoy Do You \\ Need? \end{tabular} & \begin{tabular}{c} How Will You Obtain \\ the Money? \end{tabular} & \begin{tabular}{c} How Much \\ Timo is \\ Needed? \end{tabular} & \begin{tabular}{l} Level of Risk They \\ Wilican Assume? \end{tabular} & \begin{tabular}{c} Is this Goal \\ Roasonable? \end{tabular} \\ \hline Pay off credit card & & & & & \\ \hline Pay off car loan & & & & & \\ \hline \begin{tabular}{l} Save for college tuition for \\ the triplets \end{tabular} & & & \\ \hline \begin{tabular}{l} Save to purchase a beach \\ house at retirement \end{tabular} & & \end{tabular}