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 little 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 Rosss parents were minding the triplets. They were having a conversation about their future and the future of the triplets. College expenses, which they figured to be $130,000, and their eventual 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 $395,000 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 financial information and determine their familys short- and long-term goals for investing before meeting with an advisor. Use the information below to complete their investment objectives and organize their information.

Current Financial Situation

Assets:			Income:
Checking account	$5,400		Gross income (Jamie Lee)	$54,000
Savings account	$20,900		Net income after taxes (Jamie Lee)	$37,800
Emergency fund savings account	$21,900		Gross income (Ross)	$89,000
IRA balance	$32,900		Net income after taxes (Ross)	$71,200
Car (Jamie Lee)	$9,400		Monthly Expenses:
Car (Ross)	$14,900		Mortgage	$1,360
Liabilities:			Property taxes	$490
Student loan balance	$0		Homeowners insurance	$290
Credit card balance	$4,900		IRA contribution	$390
Car loans	$2,900		Utilities	$295
			Food	$690
			Baby essentials (diapers, clothing, etc.)	$690
			Gas/maintenance	$320
			Credit card payment	$490
			Car loan payment	$298
			Entertainment	$170

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 little 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 were having a conversation about their future and the future of the triplets. College expenses, which they figured to be $130,000, and their eventual 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 $395,000 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 financial information and determine their family's short- and long-term goals for investing before meeting with an advisor. Use the information below to complete their investment objectives and organize their information. $54,000 $37,800 $89,000 Current Financial Situation Assets: Checking account Savings account Emergency fund savings account IRA balance Car (Jamie Lee) Car (Ross) Llabilities: Student loan balance $71,200 $1,360 $490 Income: $5,400 Gross income (Jamie Lee) $20,900 Net Income after taxes (Jamie Lee) $21,900 Gross income (Ross) $32.900 Net Income after taxes (Ross) $9.400 Monthly Expenses: $14.900 Mortgage Property taxes $0 Homeowners Insurance $4.900 IRA contribution $2.900 Utilities Food Baby essentials (diapers, clothing, etc.) Gas/maintenance Credit card payment Car loan payment Entertainment $290 Credit card balance $390 Car loans $295 $690 $690 $320 $490 $298 $170 Description of Goal How Much Money Do You Need? How Much Time Is Needed? Level of Risk They Will/Can Assume? Is this Goal Reasonable? Pay off credit card $ 4,900 1 year None Yes How Will You Obtain the Money? Income/continue monthly payments Income/continue monthly payments Income paid into investments Pay off car loan S 2,900 1 year None Yes S 130,000 15 years Yes Save for college tuition for the triplets Save to purchase a beach house at retirement Some medium and some high Some medium and some high $ 395,000 Income paid into investments 30 years Yes, but it will be lowest in priority 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 little 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 were having a conversation about their future and the future of the triplets. College expenses, which they figured to be $130,000, and their eventual 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 $395,000 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 financial information and determine their family's short- and long-term goals for investing before meeting with an advisor. Use the information below to complete their investment objectives and organize their information. $54,000 $37,800 $89,000 Current Financial Situation Assets: Checking account Savings account Emergency fund savings account IRA balance Car (Jamie Lee) Car (Ross) Llabilities: Student loan balance $71,200 $1,360 $490 Income: $5,400 Gross income (Jamie Lee) $20,900 Net Income after taxes (Jamie Lee) $21,900 Gross income (Ross) $32.900 Net Income after taxes (Ross) $9.400 Monthly Expenses: $14.900 Mortgage Property taxes $0 Homeowners Insurance $4.900 IRA contribution $2.900 Utilities Food Baby essentials (diapers, clothing, etc.) Gas/maintenance Credit card payment Car loan payment Entertainment $290 Credit card balance $390 Car loans $295 $690 $690 $320 $490 $298 $170 Description of Goal How Much Money Do You Need? How Much Time Is Needed? Level of Risk They Will/Can Assume? Is this Goal Reasonable? Pay off credit card $ 4,900 1 year None Yes How Will You Obtain the Money? Income/continue monthly payments Income/continue monthly payments Income paid into investments Pay off car loan S 2,900 1 year None Yes S 130,000 15 years Yes Save for college tuition for the triplets Save to purchase a beach house at retirement Some medium and some high Some medium and some high $ 395,000 Income paid into investments 30 years Yes, but it will be lowest in priority