Assets: Income: Checking account $4,700 Gross income (Jamie Lee) $54,000 Savings account $22,600 Net income after...

Transcribed Image Text:

Assets: Income: Checking account $4,700 Gross income (Jamie Lee) $54,000 Savings account $22,600 Net income after taxes (Jamie Lee) $40,500 Emergency fund savings account $20,900 Gross income (Ross) $79,000 IRA balance $26,400 Net income after taxes (Ross) $67,150 Car (Jamie Lee) $10,400 Monthly Expenses: Car (Ross) Liabilities: $18,400 Student loan balance $0 Credit card balance $2,000 Car loans $6,400 Original purchase price of home $288,000 Mortgage Property taxes and insurance Utilities Food Gas/maintenance Credit card payment $1,285 $540 $215 $420 $295 $270 Car loan payment $293 Entertainment $320 Real Property (not applicable to renters) Current replacement value of home Personal Property Estimated value of appliances, furniture, clothing, and other household items (conduct an inventory) Type of coverage for personal property Additional coverage for items with limits on standard personal coverage such as jewelry, firearms, silverware, and photographic, electronic, and computer equipment Diamond wedding band set Personal Liability Amount of additional personal liability coverage desired for possible personal injury claims Specialized Coverages If appropriate. investigate flood or earthquake coverage excluded from home insurance policies Total Property Insurance Needed Assets: Income: Checking account $4,700 Gross income (Jamie Lee) $54,000 Savings account $22,600 Net income after taxes (Jamie Lee) $40,500 Emergency fund savings account $20,900 Gross income (Ross) $79,000 IRA balance $26,400 Net income after taxes (Ross) $67,150 Car (Jamie Lee) $10,400 Monthly Expenses: Car (Ross) Liabilities: $18,400 Student loan balance $0 Credit card balance $2,000 Car loans $6,400 Original purchase price of home $288,000 Mortgage Property taxes and insurance Utilities Food Gas/maintenance Credit card payment $1,285 $540 $215 $420 $295 $270 Car loan payment $293 Entertainment $320 Real Property (not applicable to renters) Current replacement value of home Personal Property Estimated value of appliances, furniture, clothing, and other household items (conduct an inventory) Type of coverage for personal property Additional coverage for items with limits on standard personal coverage such as jewelry, firearms, silverware, and photographic, electronic, and computer equipment Diamond wedding band set Personal Liability Amount of additional personal liability coverage desired for possible personal injury claims Specialized Coverages If appropriate. investigate flood or earthquake coverage excluded from home insurance policies Total Property Insurance Needed