Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The triplets are now three and a half years old, and Jamie Lee and Ross, both 38, are finally beginning to settle down into a

image text in transcribed
image text in transcribed
The triplets are now three and a half years old, and Jamie Lee and Ross, both 38, are finally beginning to settle down into a real routine now that their children are a little more self-suffident. The first three years were a blur of diapers, feedings, baths.mounds of laundry, and crying bables! Jamie Lpp and Rocs finally had a welcomed dinner out on their own as Ross's parents wore minding the triplets. They were having a conversation about their future and the future of the triplets. College expenses, which they figured to be $100.000 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 $350,000 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 Invesung before meeting with an advisor Use the information below to complete their investment objectives and organize their Information. Current Anancial Situation Assets: Income Checking account $4,500 Gross Income (Jamie Lee) $45.000 Savings account $20,000 Net Income after taxes (Jamie Lee) $31.500 Emergency fund savings account $21000 Gross Income Ross $80,000 RA balance $32,000 Net Income after taxes (Ross) $64,500 Car (Jamle Lee) $8.500 Monthly Expenses Car (Ross $14.000 Mortgage $1.225 Llabilities Property taxes $400 Student loan balance so Homeowners Insurance $200 Credit card balance 4.000 IPA Contribution $300 Car loans $2.000 Uitles $250 Food 5600 Baby essentials (alapers, clothing, etc.) 5600 Gas maintenance $275 Crect card payment $400 Cazioan payment 5299 Entertainment 5125 How Much How Much How Will You Obtain Money Do You Description of Goal Time Is Level of Risk They the Money? Will/Can Assume? Need? Needed? Pay off credit card Is this Goal Reasonable? Pay off car loan Save for college tuition for the triplets Save to purchase a beach house at redirement

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Introduction To The Financial Management Of Healthcare Organizations

Authors: Michael Nowicki

7th Edition

156793904X, 9781567939040

More Books

Students also viewed these Finance questions

Question

3. Explain some contemporary theories of leadership

Answered: 1 week ago