I know there are answers using the same information but the questions are different from mine so PLEASE help me and don't just click past it cause you think it's the same thing again.

Jaime Lee and Ross, now in their 50s and still very active, havent plenty of time on their hands now that the triplets are away at college. They both realized that time has just flown by; over 24 years have passed since they were married!

Looking back over the past years, they realize they have worked hard, Jamie Lee as the proprietor of a cupcake caf and Ross self-employed as a web page designer. They have enjoyed raising their family and have striven to make financially sound decisions. Now they are looking forward to a retirement that is just around the corner. They saved regularly and invested wisely over the years. They have rebounded nicely from the recent economic crisis, as they watched their investments closely and adjusted their strategies when they felt it was necessary. They purchase vehicles with cash and do carry credit card balances, choosing instead to use them for convenience only. The triplets are pursuing their masters degrees and have tuition covered through work-study programs at the university.

Jamie Lee and Ross are just a few short years from realizing their goals of retiring at 65 and purchasing a home on the beach!

Current Financial Situation (combined)

Asset:

Checking Account: $5,500

Savings Account: $53,000

Emergency fund savings account: $45,000

House: $475,000

IRA balance: $92,000

Life Insurance cash value: $125,000

Investments (stocks, bonds): $750,000

Cars: $12,500 (Jamie Lee) and $16,000 (Ross)

Liabilities:

Mortgage: $43,000

Credit Card Balance: $0

Car Loans: $0

Income- Jamie Lee $45,000 gross ($31,500 net)

Ross: $135,000 gross ($97,200 net)

Monthly Expense Mortgage $1,225

Property Taxes $500

Homeowners Insurance $300

IRA Contribution $300

Utilities $250

Food $600

Gas/maintenance $275

Entertainment $300

Life Insurance $375

1. Looking over Jamie Lee and Rosss assets, which ones could be valuable to them for income as retirement approaches?

2. Using the Personal Financial Planner Sheet 63, Retirement Planning, evaluate Jamie Lee and Rosss housing needs as they begin to look at retirement properties at the beach. Using the internet, research retirement options for Jamie Lee and Ross at the beach of your choice. What are the prices for a small residence that would suit their needs during their retirement years?

3. Jamie Lee and Ross estimate that they will have $1 million in liquid assets to withdraw from at the start of their retirement. They plan to be in retirement for 30 years. Using the chart in Exhibit 18-16, Dipping into Your Nest Egg, how much can Jamie Lee and Ross withdraw each month and still leave their nest egg intact? How much can they withdraw each month that will reduce their nest egg to zero?