Joe and Monica are married with four children at home and a mortgage. Joe’s net pay per year is $64,000 and Monica does not have income. Their mortgage payment of $1,800 includes insurance on their home. They have additional monthly expenses of $2,700. Jim contributes 15% of his earnings to a retirement fund and they have $9,500 in savings. There is a $750,000 life insurance policy on Joe and a $150,000 policy on Monica. As their financial advisor, what part of Joe and Monica’s financial plan would you encourage them to work on?