CASE STUDY (PERSONAL FINANCE)

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http://www.ijarse.com/images/fullpdf/1427897883_31_Research_Paper.pdf

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CASE STUDY ON PERSONAL FINANCIAL PLANNING ABSTRACT The case is ideal for an undergraduate finance course with an emphasis on personal financial planning. This case connects the myriad of personal financial to which families are exposed in the due course of their smooth running These include personal financial planning managing liquidity. personal financing, tax planning, managing insurance and risk, investment planning. retirement and estate planning In addition, the case incorporates other critical elements important to personal finance management, such as capital redeeming and asset securitization. The case also includes a thorough family financial strategy analysis with certain goals and liabilities. I CASE DESCRIPTION In today's scenario large number of families incurs losses because of the lack of existence of a financial plan. This case is about a family which constitutes of 5 members and is presided by a person named Mr, ART MAN. The family has 7 real life desires which need to be fulfilled by manipulating and using the available assets and anticipated income out of the interest rates on this property he possess and also the regular income flow of Mr, Art and his wife. This case studies the financial problem in MALAYSIA. All the solution of the case is solved keeping in mind the interest rate of Malaysia. The description of the desires and the personal property possessions has been detailed in the further part of the report.\fII CASE GUIDELINESS The case includes the following seven parts: Part 1- Cash Flow and Net-worth Statement Part 2 - Loan Repayment and amortisation Part 3- Education Provision for Mawar Part 4- Insurance / Takaful Part 5- Taxation (more at advising) Part 6- Investment (FV/PV) Part 7- Retirement Plan/ Estate Planning of Mr. Art and Rosie 2.1 Case Data/Information Mr. Art and Rosie are working couple, where Mr. Art is a doctor (Chest specialist) attached to private hospital and Rosie works in accounts department in an IT firm. The family comprises of 5 members, but Mr. Art and rosie have 1 school going kid -Mawar and Mr, Art parents - Wak Lam and Nik Sephia are staying with them. NO NAME AGE RELATIONSHIP HEALTH HISTORY Mr ART MAN 36 Self Normal MS ROSIE 30 Wife Normal 3 WAK LAM 68 Father Hypertension (BP High) 4 NIK SEPIA 60 Mother Thyroid + High BP 5 MAWAR Daughter Normal Financial Information: Their cash flowset net worth is given below (husband And wife) MONTHLY (in RM) YEARLY (in RM) Inflows (including EPF, 18.500 222.500 bonus) Rental ??? ???7 Outflows 15,000 180,000 Household & lifestyle 4,000 48.000 expenditure Maid 500 6.000