Goals: Age Annual Salary (Gross) Jose Maria Joe 46 $ 89,000.00 44 $ 125,000.00 10 Value or Balance End of 2020 Value or Balance End of 2021 Monthly Payment or Contribution Home Mortgage Car 1 Car 2 Credit Cards Stocks Acct $ 450,000.00 $ 464,400.000 S 280,000.00 $ 269,000.00 $ $ 20,000.00 $ 18,000.00 $ 2,400.00 350.00 $ 15,000.00 $ 12,000.00 $ 260.00 $ 13,000.00 $ 15,000.00 $ 150,000.00 $ 161,000.00 Bonds Acct $ 120,000.00 $ 122,000.00 Retirement Acct 1 $ 270,000.00 $ 280,000.00 $ Retirement Acct 2 $ 345,000.00 $ 363,000.00 S 500.00 1,000.00 Education Savings $ 10,000.00 S 12,000.00 Student Loans $ 45,000.00 $ Checking Acct $ 5,000.00 $ 43,600.00 $ 5,100.00 400.00 $ 10,000.00 $ 10,120.00 $ 12,000.00 Savings Acct Total Monthly Expenses (including debt payments) No insurance Moderate Risk Tolerance 20% Average Tax Rate Retire around age 63-65 Send Joe to State College Buy vacation home to use in retirement Start a local charity to help end Alzheimer's Disease 1. Create a personal balance sheet and income statement.