23 Jul WHAT CHANGES WOULD YOU RECOMMEND FOR THE BROCKS LIFE INSURANCE COVERAGE?
Monthly inco Show more Life Situation Financial Data Pam 43 Josh 45 Children ages 16 14 and 11 Monthly income $4900 Living expenses $4450 Emergency fund $5000 Assets $262700 Liabilities $84600 With three dependent children the Brocks are assessing their life insurance. Pam has $5000 of coverage. Josh has life insurance coverage equal to approximately eight times his annual salary. With approximately 20 years to retirement Pam and Josh Brock want to establish a more aggressive investment program to accumulate funds for their long-term financial needs. Josh does have a retirement program at work. This money about $110000 is invested in various conservative mutual funds. In addition the Brocks established their own investment program about four years ago and today they have about $36000 invested in conservative stocks and mutual funds. In addition to their investment program the Brocks have accumulated $11000 to help pay for the childrens college educations. Also they have $5000 tucked away in a savings account that serves as the familys emergency fund. Finally both will qualify for Social Security when they reach retirement age. Questions Q1. What changes would you recommend for the Brocks life insurance coverage? Q2. What would you view as the strengths and weaknesses of the Brocks financial situation at this stage in their lives? Q3. Given that Pam is 43 and Josh is 45 and they have three children who will soon begin their college educations what investment goals would be most appropriate? Q4. Describe an investment portfolio (asset types allocation risk-return) that you would recommend for the Brocks. With three dependent children the Brocks are assessing their life insurance. Pam has $5000 of coverage. Josh has life insurance coverage equal to approximately eight times his annual salary. With approximately 20 years to retirement Pam and Josh Brock want to establish a more aggressive investment program to accumulate funds for their long-term financial needs. Josh does have a retirement program at work. This money about $110000 is invested in various conservative mutual funds. In addition the Brocks established their own investment program about four years ago and today they have about $36000 invested in conservative stocks and mutual funds. In addition to their investment program the Brocks have accumulated $11000 to help pay for the childrens college educations. Also they have $5000 tucked away in a savings account that serves as the familys emergency fund. Finally both will qualify for Social Security when they reach retirement age. Questions Q1. What changes would you recommend for the Brocks life insurance coverage? Q2. What would you view as the strengths and weaknesses of the Brocks financial situation at this stage in their lives? Q3. Given that Pam is 43 and Josh is 45 and they have three children who will soon begin their college educations what investment goals would be most appropriate? Q4. Describe an investment portfolio (asset types allocation risk-return) that you would recommend for the Brocks. Show less
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