HELP ASAP 2 The triplets are now three and a half years...

90.2K

Verified Solution

Question

Finance

HELP ASAP image
2 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 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! ts 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 $140,000, 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 $370.000 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 Skipped Print Current Financial Situation Assets: Income: Checking account $4.900 Gross income (Jamie Lee) $49000 Savings account $20,400 Net income after taxes Jamie Leel $34300 Emergency fund savings account $21.400 Gross income (Rossi $84000 IRA balance $32.400 Net Income after taxes (Ross) 567 200 Car (Jamie Lee) $8.900 Monthly Expenses Car (RO) $14.400 Mortgage $1285 Llabilities: Property taxes $440 Student loan balance 50 Homeowners insurance $240 Credit Card balance $4,400 TRA contribution $140 Car loans $2.400 Ultes $270 Food 1640 Baby essentials (diapers, clothing, etc) $640 Gamintenance $295 Credit card payment $440 Cor loan payment $293 Ented her $145 How Much How Much How Will You Obtain Level of Risk They Description of Goal Money Do You Time is the Money? WillCan Assume? Need? Needed? Is this Goal Reasonable? Pay off credit card Pay off car loan Save for college tuition for the triplets Save to purchase a beach house at retirement

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students