Question
Life Situation Financial Data Pam, 43 Josh, 45 Children ages 16, 14, and 11 Monthly income $4,900 Living expenses $4,450 Emergency fund $5,000 Assets $262,700
Life Situation | Financial Data |
Pam, 43 Josh, 45 Children ages 16, 14, and 11 | Monthly income $4,900 Living expenses $4,450 Emergency fund $5,000 Assets $262,700 Liabilities $84,600 |
With three dependent children, the Brocks are assessing their life insurance. Pam has $5,000 of coverage. Josh has life insurance coverage equal to approximately eight times his annual salary. With approximately 20 years to retirement, Pam and Josh Brock want to establish a more aggressive investment program to accumulate funds for their long-term financial needs. Josh does have a retirement program at work. This money, about $110,000, is invested in various conservative mutual funds. In addition, the Brocks established their own investment program about four years ago, and today they have about $36,000 invested in conservative stocks and mutual funds. In addition to their investment program, the Brocks have accumulated $11,000 to help pay for the children |
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