Wow. I don't see why they should LEASE TWO cars. The should have purchased the cars, and likely purchase one and rent if they actually need something different on occasion. How often do they actually drive them? If they don't drive them almost every day, the cars will last longer before any major faults show up. If they work in Manhattan, they would not be driving to work - people usually avoid driving there.

Meanwhile, income taxes are overstated as there is no allowance for deductions for mortgage interest or charitable donations. Also, why is there no line item for education savings? A 529 plan, like a RESP, is not tax deductible, but will insulate growth from the taxman.

Also, a full analysis would include the insurances they get from their employers. They ARE employed, otherwise they could not contribute to 401Ks. Maybe they already have disability insurance. But why no IRAs (RRSPs)?