Personal Case Study
The purpose of this assignment is to analyze your financial situation and make suggestions that would help you reduce financial risk exposure and improve your current and future financial situations.
You are required to analyze and advise on the following subjects:
Net Worth Statement
- Include in final project
Budget Planning
- Analyze current cash flow
- Offer budgeting advice and things you might consider changing
- Review and analyze current mortgages and determine if you should consider refinancing. If you do not own a house, advise as to what would be within your price range and optimal lending options
Retirement Planning
- Analyze current contributions and offer advice as to increasing or decreasing contributions
- Advise as to what type of accounts should you consider opening (qualified or non-qualified)
College Planning
- Analyze projected cost of college based on information given
- Make suggestions as to what type of accounts should be opened and how much you should consider contributing
Investment Planning
- Analyze your investment holdings. Check to see if they are suitable for your risk tolerance and time horizons
- Determine accounts that can be transferred and/or consolidated
- Determine if you have funds that should be invested
Insurance Planning
- Analyze coverage pertaining to life, disability, long-term care, home and auto, or any other coverage you or your family may have
- Identify catastrophic risk exposure and areas you may choose to self-insure
Estate Planning
- Analyze estate planning desires and current risk exposures
- Advise if its advantageous to open up a Will and/or Trust and explain why
Prioritize Goals
- Identify your areas of concerns and prioritize how the order in how they should be addressed
- Suggest a time table as to when each action item should be completed
Students are required to use knowledge acquired from reading the textbook, class presentations, and discussions. Its highly recommended that students seek additional resources to complete this assignment.
This assignment should be approximately 8 pages (not including the cover page). The categories listed above should be addressed separately and clearly labeled.