Employment: Account Supervisor
Savings and Investments:
- Checking – $2,500
- Savings – $5,000
- IRAs and 401k (including husband’s funds) – $105,000
- Credit cards: $13,500
Alice’s main concerns, in her own words:
Want to get serious about debt and saving. Debt: 13,500 excluding mortgage (10.5 at 0% until April 2016; remainder car loan) Assets: 2500 checking 5000 saving (emergency fund) ; $105,000 in 401K and IRA between me and my 50-year-old husband. Made a budget and set up automatic payments to debt, IRAs and 529s (6yo son, 4yo daughter). Then my husband lost his job. My job will pay the bills, including debt and I have auto deductions of 7% of salary to 401K. But this leaves nothing for funding IRA, 529 and emergency fund.