TASKYou 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. 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 Jennifers projected financial position ten years from now. DETAILSIn 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. |
©2002 - 2004
Scott Carlson and Golden
Hills School Division #75 and Galileo
Educational Network Association (GENA).
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