Tom and Lisa Johnson Balance Sheet

Assets

Cash/Cash Equivalents

• Savings - Joint $8,813.20
• Emergency fund MM MF - Tom $52,580.00
• MM MF Inher - Tom $24,556.40
• Checking Acct - Joint $1,601.60
• Life Ins in MM MF - Lisa $82,500.00

Total Cash/Cash Equivalents $170,051.60

Invested Assets

• 401k Balance - Tom $1,431,008.70
• 403(b) Balance - Lisa $719,837.80
• Roth IRA 1 - Tom $260,493.20
• Roth IRA 2 - Tom $13,579.50
• Roth IRA - Lisa $18,229.20
• Trad IRA - Tom $197,199.20
• Rollover IRA - Lisa $257,822.40
• Investment account - Tom $27,948.80
• HSA - Tom $7,126.90

Total Invested Assets $ 2,933,245.7

Personal Use Assets

• Piano - Lisa $86,350.00
• Jewelry - Lisa $16,500.00
• Tools - Tom $7,700.00
• House Value $858,000.00
• Home Furnish $91,300.00
• BMW Car - Tom $28,600.00
• Acura RDX - Lisa $40,150.00
• Sailboat - Tom $19,250.00

Total Personal Use Assets $ $1,147,850

Total Assets $ $4,251,590.20

Liabilities

Current Liabilities

• Credit Card - MasterCard $3,571.70
• Credit Card - Visa $7,379.90

Total Current Liabilities $ $10,951.60

Long-Term Liabilities

• House Loan $257,473.43
• Acura RDX - Lisa $28,139.01
• Sailboat Loan - Tom $17,417.88

Total Long-term Liabilities $ $303,031.33

Total Liabilities $ $313,982.93

Net Worth $ $3,937,607.27

Tom and Lisa Johnson Cash Flow

Inflows

Income - Tom $132,000.00 Income - Lisa $165,000.00

Total Income $297,000.00

Outflows

Savings

• 401k EE Contr. First 3% - Tom $3,960.00
• 401k EE Contr. Next 3% - Tom $1,320.00
• 403(b) EE Contr. - Lisa $3,300.00
• HSA - Tom $3,795.00
• 529 Contr. - Rebecca's account $1,056.00

Total Savings $13,431.00

Expenses

Living expenses

• Food $18,480.00
• Furnishing and Household Exp. $5,280.00
• Credit Card Fees $550.00
• Personal Care $1,980.00
• Miscellaneous $3,960.00
• Medical Bills - Lisa $8,085.00
• Entertainment $12,540.00
• Misc Expens - Grandchildren $2,970.00
• Clothing $8,800.00
• Auto maint $3,300.00
• Gasoline $5,016.00
• Utilities $9,504.00
• Phone $2,574.00
• TV/Internet $2,310.00
• Charitable Gifts $31,900.00
• Vacations $19,800.00
• Piano Tuning $264.00
• Boat Expenses $4,345.00
• Credit Card Fees $272.80
• Gifts, Friends, and Family $5,280.00

Total Living Expenses $ $151,940.80

Debt Payments

• House PMT $16,636.97
• Acura PMT $7,617.18
• Boat PMT $6,794.15

Total Debt Payments $31,048.30

Insurance Premiums

• Health Insurance - Lisa & Rebecca $4,725.60
• Health Insurance - Tom $3,154.80
• Disability inc insur - Tom $1,584.00
• Disability inc insur - Lisa $1,980.00
• Term Insur - Tom $884.40
• Term Insur - Lisa $673.20
• Malpractice Ins - Lisa $649.00
• Homeowner's Ins $1,925.00
• Car ins - Tom & Lisa $1,617.00
• Boat ins - Tom $385.00
• PLUP $418.00

Total Insurance Premiums $ $17,996.0

Taxes

• Fed Income Tax $44,550.00
• FICA - Tom & Lisa $22,720.50
• Addl Medicare Tax $198.00
• Property Tax $6,338.37

Total Taxes $73,806.87

Monthly Outflows $ $22,643.6

Total Outflows $ $288,223.0

Total Cash Remaining $8,777.0

**** Tom and Lisa Johnsons goals are listed below. Please create a plan for them.

1. Tom and Lisa would like to have 17 weeks of total outflows ($90,574.31) in a joint money market account. They are wanting to join the funds currently in Tom's emergency fund ($52,580.00). They're wanting you to iron out the rest( $37,994.31 ). Do not include their checking account balance or the life insurance death benefit for their emergency fund reserve.

2. Their second goal is to have $5,500,000 in investment accounts for retirement in seven years. Tom and Lisa would like you to tell them how much they need to save monthly to meet this goal. Include all current balances in Invested Assets. They think they could earn a 6% annual return on their investments.

3. They would like to spend about $ $27,500.00 on their 25 year anniversary party in 24 months and would like to open a separate account to begin funding this goal.