The triplets are now three and a half years old and Jamie Lee and Ross, both 38. are finally beginning to settle into a regular routine now that the triplets 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 ($100.000) and their eventual retirement seem to be a major worry for both of them. They both have also dreamed of owning a beach house when they retire. That could be another $350,000, thirty years from now. They wondered how they could possibly afford all of this. They agreed that it was time to talk to an investment counselor but wanted to organize all of their financial information and discuss their family's financial goals before setting up the appointment. Current Financial Situation Assets (Jamie Lee and Ross combined): Checking account: $4,500 Savings account: $20,000 Emergency fund savings account: $21,000 IRA balance: $32,000 Car: $8,500 (Jamie Lee) and $14.000 (Ross) Liabilities (Jamie Lee and Ross combined): Student loan balance: $0 Credit card balance: $4.000 Car loans: $2,000 Income: Jamie Lee: $45,000 gross income (531,500 net income after taxes) Ross: $80,000 gross income ($64.500 net income after taxes) Monthly Expenses: Mortgage: $1,225 Property taxes: 5400 Homeowner's insurance: $200 IRA contribution $300 Utilities: $250 page 486 Food: 5600 Baby essentials (diapers, clothing, toys, etc.): $200 Gas/maintenance: $275 Credit card payment: $400 Car loan payment: $289 Entertainment: $125 We've updated our read aloud feature! The triplets are now three and a half years old and Jamie Lee and Ross, both 38. are finally beginning to settle into a regular routine now that the triplets 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 ($100.000) and their eventual retirement seem to be a major worry for both of them. They both have also dreamed of owning a beach house when they retire. That could be another $350,000, thirty years from now. They wondered how they could possibly afford all of this. They agreed that it was time to talk to an investment counselor but wanted to organize all of their financial information and discuss their family's financial goals before setting up the appointment. Current Financial Situation Assets (Jamie Lee and Ross combined): Checking account: $4,500 Savings account: $20,000 Emergency fund savings account: $21,000 IRA balance: $32,000 Car: $8,500 (Jamie Lee) and $14.000 (Ross) Liabilities (Jamie Lee and Ross combined): Student loan balance: $0 Credit card balance: $4.000 Car loans: $2,000 Income: Jamie Lee: $45,000 gross income (531,500 net income after taxes) Ross: $80,000 gross income ($64.500 net income after taxes) Monthly Expenses: Mortgage: $1,225 Property taxes: 5400 Homeowner's insurance: $200 IRA contribution $300 Utilities: $250 page 486 Food: 5600 Baby essentials (diapers, clothing, toys, etc.): $200 Gas/maintenance: $275 Credit card payment: $400 Car loan payment: $289 Entertainment: $125 We've updated our read aloud feature