sUE AND tOM wRIGHT ARE ASSISTANT PROFESSORS AT THE LOCAL UNIVERSITY. THEY EACH HAVE 40,000 PER YEAR AFTER TAXES. sUE IS 37 AND TOM IS35. THEIR 2 CHILDREN ARE 13,11.WERE EITHER OF THEM TO DIE THEY ESTIMATE THAT THE REMAINING FAMILY MEMBERS WOULD NEED 75% OF PRESENT COMBINED TAKE HOME PAY TO KEEP THEIR CURRENT STANDARD OF LIVING FOR THE CHILDREN TILL THEY COME OF AGE. THIS DOES NOT INCLUDE THE 50. CHILDCARE A MONTH THATS REQUIRD IN A SINGLE APRENT HOUSEHOLD. THEY ESTIMATE THE SURVIVOR BENEFITS WOULD TOTAL ABOUT 1,000. PER MONTH IN CHILD SUPPORT.TOM AND SUE AR EKNOWLEADGABLE INVESTORS. IN THE PAST AVERAGE AFTER TAX RETURNS THEIR INVESTMENT PORTFOLIO HAVE EXCEEDED THE RATE OF ABOUT 3% IF ONE WAS TO DIE TODAY HOW MUCH WOULD THEY NEED IN THE FQAMILY MANITENANCEFUND? USE THE NEEDS APPROACH. IF THEY HAD A GAP OF 50,000. IN LIFE INSURANCE WHAT STEPS DO THEY TAKE TO TO MAKE UP THE GAP.
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