商业银行个人理财规划书.pdf

Personal Financial PlanForWilliam&Mary SampleOctober 14,2009Prepared byDonald F.Dempsey Jr.PO Box 1591Williston,VT 05495802-764-5815This presentation provides a general overview of some aspects of your personal financial position.It is designed to provide educational and/or general information and is not intended to provide specific legal,accounting,investment,tax or other professional advice.For specific advice on these aspects of your overall financial plan,consult with your professional advisors.Asset or portfolio earnings and/or returns shown,or used in the presentation,are not intended to predict nor guarantee the actual results of any investment products or particular investment style.IMPORTANT:The projections or other information generated by Money Trees Silver regarding the likelihood of various investment outcomes are hypothetical in nature,do not reflect actual investment results and are not guarantees of future results.Additionally,it is important to note that information in this report is based upon financial figures input on the date above;results provided may vary with subsequent uses and over time.About Your Personal Financial PlanWe appreciate that you have questions and concerns as you work to attain and preserve financial security.Todays financial environment is complex and in many regards,uncertain.The decisions you make regarding work,spending,investment,and retirement,both now and in the future,will significantly affect your financial condition over the long term.In an effort to aid you in learning,understanding,and formulating a personal basis for decision making,this Personal Financial Plan is offered to help enhance your knowledge of various topics and communicate some of the intricacies of the financial world.The plan represents a framework to clarify and structure your financial matters.This plan is based upon confidential information you provided regarding your present resources and objectives.While illustrations within this plan can be a valuable aid in the examination of your finances,it does not represent the culmination of your planning efforts.Financial planning is an ongoing process.This hypothetical illustration of mathematical principles is custom made to model some potential situations and transitions you may face in your financial future.Hypothetical assumptions used in this illustration are specifically chosen to communicate and demonstrate your current financial position and highlight for discussion with your advisor the complex future interacting effects of combined incomes,expenses,savings,asset growth,taxes,retirement benefits,and insurance.This document is not an advertisement or solicitation for any specific investment,investment strategy,or service.No recommendations or projections of specific investments or investment strategies are made or implied.Any illustrations of asset growth contained herein are strictly used to demonstrate mathematical concepts and relationships while presenting a balanced and complete picture of certain financial principles.Growth assumptions are applied to generalized accounts based upon differing tax treatment.Illustrations,charts and tables do not predict or project actual future investment performance,or imply that any past performance will recur.This plan does not provide tax or legal advice,but may illustrate some tax rules or effects and mention potential legal options for educational purposes.Information contained herein is not a substitute for consultation with a competent legal professional or tax advisor and should only be used in conjunction with his or her advice.The results shown in this illustration are not guarantees of,or projections of future performance.Results shown are for illustrative purposes only.This presentation contains forward-looking statements and there can be no guarantees that the views and opinions expressed will come to pass.Historical data shown represents past performance and does not imply or guarantee comparable future results.Information and statistical data contained herein have been obtained from sources believed to be reliable but in no way are guaranteed as to accuracy or completeness.The Assumptions page contains information you provided that is used throughout the presentation.Please review the information for accuracy and notify your Financial Advisor promptly if discrepancies in the assumptions are present;discrepancies may materially alter the presentation.Your actual future investment returns,tax levels and inflation are unknown.This illustration uses representative assumptions in a financial planning calculation model to generate a report for education and discussion purposes.Calculations and assumptions within this report may not reflect all potential fees,charges,and expenses that might be incurred over the time frame covered by these illustrations which,if included,would result in lower investment returns and less favorable illustration results.Do not rely upon the results of this report to predict actual future investment performance,market conditions,tax effects or inflation rates.Draft-For Internal Use Only William&Mary SampleOctober 14,2009This report,and its hypothetical illustrations,are intended to form a basis for further discussion with your legal,accounting,and financial advisors.Actual future investment returns,taxes and inflation are unknown.Do not rely upon this report to predict future investment performance.Page 2 of 35SummaryThis report uses financial models to present a picture of your current financial situation and illustrations of possible directions your finances may take.Future economic and market conditions are unknown,and will change.The assumptions used are representative of economic and market conditions that could occur,and are designed to promote a discussion of appropriate actions that may need to be taken,now or in the future,to help you manage and maintain your financial situation under changeable conditions.Your Current Situation:Your Goals:Analysis Details:Retirement AnalysisYou have assets of approximately$839,500.You have liabilities of approximately$160,300.Your net worth is approximately$679,200.William wants to retire at age 65 and Mary wants to retire at age 65.You now have$371,000 in working assets and are adding$34,900 per year.To meet your education goals you need to save$18,447 annually($1,537 monthly).You will need the income until the last life expectancy of age 90.Monthly after-tax income needed at that time is$5,000(in todays dollars).Using the information you provided,calculations have been made to estimate whether your current retirement program will meet your stated retirement goals.The analysis begins now and extends through life expectancy.It includes tax advantaged,taxable investments,defined benefit pensions,if applicable,and Social Security benefits.The analysis calculates growth and depletion of capital assets over time.This analysis is the basis for the following summarized statement.This report is for informational and educational purposes only.The information and assumptions used are estimates.The resulting calculations are designed to help illustrate financial concepts and general trends.Asset Allocation:Type of Investor-Somewhat AggressiveLong-term care assets at risk:$714,738Net Estimated Life Insurance Needs Shortage for William:$250,000Net Estimated Life Insurance Needs Shortage for Mary:$440,000William and Mary do not have Wills.William and Mary both have Durable Powers of Attorney.William and Mary do not have Living Wills.William and Mary both have Health Care Powers of Attorney.Actions:The analysis projects that you will have$516,200 left at your life expectancy(not including insurance proceeds).This amount should be considered marginal,since your analysis may not have considered the possibility of expensive long-term care during the final years,premature disability or some other economic downturn that might affect your investments.Draft-For Internal Use Only William&Mary SampleOctober 14,2009This report,and its hypothetical illustrations,are intended to form a basis for further discussion with your legal,accounting,and financial advisors.Actual future investment returns,taxes and inflation are unknown.Do not rely upon this report to predict future investment performance.Page 3 of 35AssumptionsNames:First Name 1WilliamFirst Name 2MaryBirthdate/Age 159Birthdate/Age 257Retirement Age 165Retirement Age 265Life Expectancy 185Life Expectancy 290Alternate life exp.186Alternate life exp.290Risk Tolerance LevelSomewhat AggressiveLife Insurance 1$100,000Life Insurance 2Term Insurance 1$250,000Term Insurance 2$150,000Insurance cash value 1$11,500Insurance cash value 2Pension&Social Security Data(Annual):Pension-Indv.1 Pension start age Pension rate(pre ret.)Pension rate(ret.)Pension survivor%Pension-Indv.2$8,00062 Pension rate(pre ret.)2.00%Pension rate(ret.)2.00%Pension survivor%50%Soc Sec 1 Start age66 Soc Sec 1 Rate2.00%Earned income 1$56,000 Soc Sec 1 Amt.(if known)Soc Sec 2 Start age66 Soc Sec 2 Rate2.00%Earned income 2$61,000 Soc Sec 2 Amt.(if known)Estimated Education CostsTotal cost at 6%inf.$209,827Expenses&Inflation(Annual After-tax):Expenses,(pre ret.)$62,000Expenses,Survivor(pre ret.)$54,000Expenses at Retirement$60,000Expenses,Survivor(ret.)$52,000Inflation,(pre ret.)3.00%Inflation,Survivor(pre ret.)3.00%Inflation at Retirement3.00%Inflation,Survivor(ret.)3.00%Asset Allocations:CurrentCash&Reserves3.23%5.00%Income9.16%0.00%Income&Growth25.61%15.00%Growth61.99%40.00%Aggressive Growth0.00%40.00%Other0.00%0.00%Rate Assumptions(Before&After Retirement):Taxable Returns7.00%6.50%Tax-Deferred&Roth Returns8.00%7.50%Tax-Free Returns4.00%4.00%Return on Annuities8.00%8.00%Effective Tax Rates26.00%19.00%Cost Basis for Taxable Assets80.00%Cost Basis for Annuity Assets100.00%Additions Increase Rate:Taxable3.00%Additions Increase Rate:Tax-Def 13.00%Additions Increase Rate:Tax-Def 23.00%Other Incomes After-taxItemDescriptionStartYearIncRateNumberof yearsAmount peryearOther Expenses After-tax:William&Mary Sample Pension start ageNote:These assumptions are based upon information provided by you,combined with representative forward looking values intended to provide a reasonable financial illustration for education and discussion purposes.The investment returns,tax rates,benefit increase rates,inflation rates,and future expense values used in this report were selected based on your age,assets,income,goals and other information you provided.These assumptions do not presuppose or analyze any particular investments or investment strategy,or represent a guarantee of future results.SuggestedClient Information:1/1/19501/1/1952Part time work William20152.00%7$12,000Remodel Kitchen20100.00%1($30,000)Mortgage20090.00%12($18,000)College Alexi20113.00%4($8,000)College Stan20153.00%4($9,000)Draft-For Internal Use Only William&Mary SampleOctober 14,2009This report,and its hypothetical illustrations,are intended to form a basis for further discussion with your legal,accounting,and financial advisors.Actual future investment returns,taxes and inflation are unknown.Do not rely upon this report to predict future investment performance.Page 4 of 35Net Worth StatementOctober 14,2009William&Mary SampleASSETSSavings And InvestmentsChecking Accounts$12,000Common Stocks80,000$92,000Retirement AccountsQualified Plans-William$150,000Qualified Plans-Mary65,000Roth Assets-William30,000Roth Assets-Mary34,000$279,000Other AssetsResidence$400,000cars35,000boat10,000coins/bullion12,000Life Insurance Cash Values11,500$468,500TOTAL ASSETS$839,500LIABILITIES Residence Mortgage$157,800Home Equity2,500$160,300Net Worth(Assets less Liabilities)$679,200Note:Potential taxes due on unrealized gains or assets in tax-deferred retirement plans are not accounted for in this Net Worth Statement.Draft-For Internal Use Only William&Mary SampleOctober 14,2009This report,and its hypothetical illustrations,are intended to form a basis for further discussion with your legal,accounting,and financial advisors.Actual future investment returns,taxes and inflation are unknown.Do not rely upon this report to predict future investment performance.Page 5 of 35AccountTaxationClassAssetAdditionPeriodAnnualAdditions*AmountCurrentTypeAssetDescriptionAsset WorksheetSchwab Bank12,000CashTaxable(J)Checking AccountSchwab Investment80,0002,4002009-2014GrowthTaxable(J)StocksWilliam ROTH 30,0005,0002009-2014Inc./Gro.Roth IRA(1)Mutual Funds(Stock)Mary ROTH34,0005,0002009-2016IncomeRoth IRA(2)Bond Mutual FundsWilliam 401k150,00011,5002009-2014GrowthTax-Deferred(1)Mutual Funds(Stock)Mary 401k65,00011,0002009-2016Inc./Gro.Tax-Deferred(2)Bonds,Pref.StockTotals:$371,000$34,900*Annual IRA addition amounts used in the analysis are limited to the maximums allowed by law.Draft-For Internal Use Only William&Mary SampleOctober 14,2009This report,and its hypothetical illustrations,are intended to form a basis for further discussion with your legal,accounting,and financial advisors.Actual future investment returns,taxes and inflation are unknown.Do not rely upon this report to predict future investment performance.Page 6 of 35*Does not include any provision for an Emergency Fund.Cash&Reserves-5%Income&Growth-15%Growth-40%Aggressive Growth-40%Your Current Asset AllocationIt is important to the success of your planning that your asset allocation is consistent with your goals.You should compare your current allocation to the Suggested Asset Allocation below which may be more appropriate and beneficial to your situation.The information from the Asset Worksheet was used to create the following chart.Suggested Asset AllocationBased upon information you provided,we believe you should consider an investment mix similar to the one below.We have illustrated a broad-based allocation.Effectiveness might be further increased by diversifying the types of securities held within the asset mix.See your Financial Advisor for further analysis.Cash&ReservesIncomeIncome&GrowthGrowthAsset AllocationCurrentAggressive GrowthOtherTotal*These suggested asset allocation percentages are representative portfolio target values.3%Suggested*$18,5505%Change$6,5509%26%62%0%0%100%055,650148,400148,4000$371,0000%15%40%40%0%100%(34,000)(39,350)(81,600)148,40000$12,00034,00095,000230,00000$371,000*Cash&Reserves-3%Income-9%Income&Growth-26%Growth-62%Note:Asset Allocation does not guarantee a profit or protect against loss in declining markets.Draft-For Internal Use Only William&Mary SampleOctober 14,2009This report,and its hypothetical illustrations,are intended to form a basis for further discussion with your legal,accounting,and financial advisors.Actual future investment returns,taxes and inflation are unknown.Do not rely upon this report to predict future investment performance.Page 7 of 35Retirement ProfileDeveloping A Retirement PlanDeveloping a retirement plan means understanding your current situation,deciding among alternatives,and taking appropriate