good 30 years left to work). While Michael has a life insurance policy at four times his pay, he could get a term policy for a minimum of $250,000 at a cost of about $19 or $20 a month considering his age, assuming he’s in good health.
Winner No. 43, Michael & Regina Haney
Financial Snapshot:
|
HOUSEHOLD INCOME |
|
| Gross Income | $75,000 |
|
ASSETS |
|
| Checking (his) | $1,000 |
| Checking (hers) | 600 |
| Mutual Fund (his) | 700 |
| Mutual Fund (hers) | 2,000 |
| 401k (his) | 5,000 |
| Profit-sharing (hers) | 8,500 |
| 529 Plan | 2,000 |
| Home (market value) | 186,000 |
| Car (his) est. Blue Book value | 11,000 |
| Total | $216,800 |
|
LIABILITIES |
|
| Student Loans (his) | $6,000 |
| Credit Cards (his) | 4,700 |
| Car Note | 6,000 |
| Credit Cards (hers) | 8,000 |
| Mortgage | 141,000 |
| Total | $165,700 |
| Net Worth | $51,100 |