Brad and Becky are both 31, and expecting their frist baby, which has lted them to...

Transcribed Image Text:

Brad and Becky are both 31, and expecting their frist baby, which has lted them to consider their financial situation, such as the financial implications if one of them died or became sick or injured and could no longer work. They are both in careers they enjoy and each earn $60,000 gross salary. Brad's monthly take home pay is $4,000 Becky's monthly take home pay is $3,200 Their financial statements are as follows. Monthly Cash Flow After tax income Mortgage 3% int Car loan 4% int Car ins and exp 2 cars Groceries Recreation RRSPS Brad TESAS 회 Other living Balance Sheet 7,200 Assets House Brad's RRSP 540 Brad's TFSA 800 Becky's TFSA 900 Brad's car 200 Becky's car 400 Total Assets 200 Liabilities 1,260 Brad's car loan 2.900 680,000 20,000 12,000 15,000 32,000 12,000 771,000 26,000 Brad and Becky are both 31, and expecting their frist baby, which has lted them to consider their financial situation, such as the financial implications if one of them died or became sick or injured and could no longer work. They are both in careers they enjoy and each earn $60,000 gross salary. Brad's monthly take home pay is $4,000 Becky's monthly take home pay is $3,200 Their financial statements are as follows. Monthly Cash Flow After tax income Mortgage 3% int Car loan 4% int Car ins and exp 2 cars Groceries Recreation RRSPS Brad TESAS 회 Other living Balance Sheet 7,200 Assets House Brad's RRSP 540 Brad's TFSA 800 Becky's TFSA 900 Brad's car 200 Becky's car 400 Total Assets 200 Liabilities 1,260 Brad's car loan 2.900 680,000 20,000 12,000 15,000 32,000 12,000 771,000 26,000

Answer rating: 100% (QA)

Monthly Income and Expenses Income Salary Brad Becky 4000 3200 Total Monthly Income 72... View the full answer