Personal Financial Advisor

Essay by onvinhtanUniversity, Bachelor'sA-, July 2007

download word file, 4 pages 4.0

Downloaded 42 times

Personal Financial Advisor


How old is your mother? Does she have or plan to have a life insurance?

Will you be reconsidering the beneficiary of your life insurance?

What types of insurance do you and your children have?

Are you planning to have more children?

Are you going to continue staying in this house? If not, how much do you expect to spend on your new house? Will you sell your current house or use it for other purposes?

What is the rate of return that you expect for your investment?

Which risk level is sustainable to you?

When Brook is in college, do you plan to buy a car for him?

Is it convenient for your family to have only one car?

Is there anything other than inflation that will make your expenses increase in the coming years?

Are your jobs stable? Do you plan to have another job?

What is Emily's birthday? I would like to know exactly which year she will go to college to calculate the expenses that might occur and affect your retirement plan.

Do you expect to have any financial support from Brook, after he graduates from college?

Does any member of your family have a severe disease?


With all the information you gave me, I believe that you will need to save a total of $1,972,702 at your retirement, in order to have $90,000 a year to cover your needs in retirement. After reviewing and analyzing your balance sheet, your cash flows, investments and expenses, and projecting those out to 2022, I made a financial plan that meets your expectation. However, this plan requires some changes in your current expense and investment strategy. If you do not agree with any of those changes, I will revise the plan until both of...