What is their Future GDS and TDS assuming they bought the house and the car?

John (28) and Nicole-Lee (27) have been married for 3 years. John graduated from Current Cash Flow University of Alberta with a doctoral degree in Physics. He has been working for University of Lethbridge as an assistant professor since graduation. Nicole obtained her diploma at Mount Royal University and was hired last year by Absolute Dental as a dental assistant. John starting salary was $91,000 ( $75,000 after tax) two years ago at University of Lethbridge. Nicole did not have much work experience, and her starting salary with Absolute Dental was $54,000($46,000 after tax). She has to go back to school to upgrade her skills if she wants to earn a better salary. John has good extended health benefits covered by Alberta Blue Cross through University of Lethbridge for himself and his family. The Lee family is currently renting a decent yellow house with a floor space of 4.200sgf located in a small town called Coaldale, about 11 kilometers east to the city of Lethbridge The yellow house is located in the best neighborhood of the town and its current value is $700.000. They pay $1,800 per month in rent and $615 per month in utilities ( $150 for cell phones with Fido: $130 for heat(gas); $95 for electricity: $155 for TV and internet with Shaw cable; and $85 for water, garbage, and sewer). This month's Fido and Shaw cable bill have been received but not paid yet. They use three credit cards STD, CIBC and RBC. The RBC credit card has a feature of 4% each reward for spending on groceries and gas, but its interest rate is the highest 25.99%. They use RBC credit card for gas, groceries and some miscellaneous spending to maximize the cash reward, and they pay off entirely the balance each month to avoid any interest charge. The current balance on the card is $1,205. Their Current unpaid bills also include their gym membership with Twisted Steel $90 and this month's auto insurance. They have one child named Ralph aged 2. They plan to have another child, ideally in two years when John's income is higher with the potential promotion to be an associate professor. Before their 2 nd child is born, they want to own their own house. The landlord has expressed the interest of selling this yellow house to them at $700,000. They have learned from the landlord that two major costs of possessing this yellow house are the property tax $6,300 annually, and the insurance cost $3,000 annually. They plan on paying 20% down payment to save on the CMHC insurance cost They do not have substantial savings because University of Lethbridge just experienced a 6-week strike and lock-out during which John had to use up all the family's savings to make up for the income loss due to the University lockout. John can use his RRSP balance to cover some of the down payment. He has been putting $1,000 a month in a RRSP and currently has $8,000. John's mother has promised to gift him $100,000 to support the purchase of a new property. They plan on buying the property at the end of the year. Buying a home is a big step. John and Nicole would like to have better control over their financial lives before taking this step. \begin{tabular}{|l|r|l|} \hline LONG TERM LIABILTES & & \\ \hline Student Loan - Nicole & $11,600.00 & \\ \hline Student Loan - John & $59,000.00 & \\ \hline Car Loan & $8,400.00 & \\ \hline Tota Lana Term Liabilities & $80,000.00 & \\ \hline Totas Liabilities & $91,265.00 & \\ \hline NET WORTH & $98,335.00 & \\ \hline \end{tabular} John (28) and Nicole-Lee (27) have been married for 3 years. John graduated from Current Cash Flow University of Alberta with a doctoral degree in Physics. He has been working for University of Lethbridge as an assistant professor since graduation. Nicole obtained her diploma at Mount Royal University and was hired last year by Absolute Dental as a dental assistant. John starting salary was $91,000 ( $75,000 after tax) two years ago at University of Lethbridge. Nicole did not have much work experience, and her starting salary with Absolute Dental was $54,000($46,000 after tax). She has to go back to school to upgrade her skills if she wants to earn a better salary. John has good extended health benefits covered by Alberta Blue Cross through University of Lethbridge for himself and his family. The Lee family is currently renting a decent yellow house with a floor space of 4.200sgf located in a small town called Coaldale, about 11 kilometers east to the city of Lethbridge The yellow house is located in the best neighborhood of the town and its current value is $700.000. They pay $1,800 per month in rent and $615 per month in utilities ( $150 for cell phones with Fido: $130 for heat(gas); $95 for electricity: $155 for TV and internet with Shaw cable; and $85 for water, garbage, and sewer). This month's Fido and Shaw cable bill have been received but not paid yet. They use three credit cards STD, CIBC and RBC. The RBC credit card has a feature of 4% each reward for spending on groceries and gas, but its interest rate is the highest 25.99%. They use RBC credit card for gas, groceries and some miscellaneous spending to maximize the cash reward, and they pay off entirely the balance each month to avoid any interest charge. The current balance on the card is $1,205. Their Current unpaid bills also include their gym membership with Twisted Steel $90 and this month's auto insurance. They have one child named Ralph aged 2. They plan to have another child, ideally in two years when John's income is higher with the potential promotion to be an associate professor. Before their 2 nd child is born, they want to own their own house. The landlord has expressed the interest of selling this yellow house to them at $700,000. They have learned from the landlord that two major costs of possessing this yellow house are the property tax $6,300 annually, and the insurance cost $3,000 annually. They plan on paying 20% down payment to save on the CMHC insurance cost They do not have substantial savings because University of Lethbridge just experienced a 6-week strike and lock-out during which John had to use up all the family's savings to make up for the income loss due to the University lockout. John can use his RRSP balance to cover some of the down payment. He has been putting $1,000 a month in a RRSP and currently has $8,000. John's mother has promised to gift him $100,000 to support the purchase of a new property. They plan on buying the property at the end of the year. Buying a home is a big step. John and Nicole would like to have better control over their financial lives before taking this step. \begin{tabular}{|l|r|l|} \hline LONG TERM LIABILTES & & \\ \hline Student Loan - Nicole & $11,600.00 & \\ \hline Student Loan - John & $59,000.00 & \\ \hline Car Loan & $8,400.00 & \\ \hline Tota Lana Term Liabilities & $80,000.00 & \\ \hline Totas Liabilities & $91,265.00 & \\ \hline NET WORTH & $98,335.00 & \\ \hline \end{tabular}