You are a financial planner who has just been given a new client. Her financial profile has been sent to you, and your client's name is Jennifer Russell.

Your job will be to prepare a financial plan for Jennifer that considers her goals and considers her future. Jennifer wants a ten year plan that will will put her and her young son in good financial shape.

As all good financial planners know, you must find Jennifer's expected monthly net income. You must create a budget for her that meets her financial goals. Present the budget in a table and also using a chart or graph.

Explain your choices to her. Be sure to include same savings for retirement in your budget. Though this is not a high priority for Jennifer, as a financial planner you know it should be. Also, make sure that your presentation to Jennifer includes all the elements, charts, graphs, calculations and explanations specified in the project description.

Based on your advice, prepare a financial plan for Jennifer that shows Jennifer’s projected financial position ten years from now.


In order to complete your financial plan, you must do some research, some calculations, and some writing. Your completed project must contain:

P      The net monthly income of the family, and a revised budget that will help the family meet its financial goals. You need to give the budget in tabular and graphical form.

P      An amortization schedule for the family’s car loan or other debt. An example of an amortization schedule calculator can be found here.

P      Savings plans and projections for retirement. Your plan must include all the details and assumptions of your investments. For example, if you are investing in stocks, which ones, and why, and what annual return do you expect, and why is that reasonable? What amount will be invested monthly, and what will the value of the investment(s) be in 10 years?

P      Plans and projections for the post-secondary education of the child. You must include your investment choices and rationale, as well as a graph projecting the growth of the education savings account.

You will submit your financial plan for Jennifer in whatever manner you choose, including paper, electronically, or by way of a presentation. Your report must detail all of the above, and discuss any surprises, obstacles or issues you encountered along the way. For instance, if purchasing a home was unaffordable for your client, discuss why and what other options exist. Your report should show what you have learned by completing this project.