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NEEDS & GOALS
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The financial planning process involves identifying and setting realistic
lifetime cash flow, wealth accumulation, and asset distribution goals; and then
implementing and monitoring them effectively for the rest of your life.
Achievement of all your financial goals is dependent upon setting priorities,
taking advantage of the tax laws, and using various financial products to your
advantage.
Your situation and the economic environment will continually change and you
should periodically re-evaluate both your goals and your expectations of general
economic conditions. This report is intended to be only a planning tool.
Although every effort has been made to analyze your particular situation and
produce specific recommendations appropriate to your situation; the ultimate
responsibility for any action you take is yours. You have identified the
following goals:
Retirement Objectives
James plans to retire on January 1, 2025 at age 60, while Joanne plans to
retire on January 1, 2016 at age 50. You want to ensure an adequate annual
income to fund your retirement needs which you have estimated to be $45,000
(today's dollars). You also indicated that you wish to see your retirement needs
indexed at a rate of 3.0%. Please refer to the Retirement Plan section of this
report for more details.
Major Purchase Objectives
Major Purchase Goals include: $83,751 (Future Dollars) in 2024 for Cottage.
Please refer to the Major Purchase Plan
section of this report for more details.
Additional Investment Strategies
The following is a summary of the required additional investment strategies
you need to follow to meet the objectives discussed above:
(refer to the section entitled
Implementing Your Plan for more details)
|
Objective |
Additional Savings |
Applicable Period |
| Retirement Goal |
$1,332/month |
Jan 1, 1999 to Jan 1, 2016 |
Major Purchase
(Cottage) |
$95/month |
Jan 1, 1999 to Aug 1, 2024 |
The remainder of this report describes the assumptions used in the
preparation of this financial plan and examines each component of your plan in
detail.
If you have any questions regarding the material presented herein please
contact us.
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