Jan. - Apr. 2021 Group Assignment BF1202 Personal Wealth Management Case Study Background Personal Life - An Average Joe in Malaysia Joe is 30 years old and a finance undergraduate that has a sound career as a relationship personal wealth banker in Malaysia. His current income based on his performance is able to generate average monthly income of 6,000 a month. With the norm of meeting basic living expenses such as phone bill, rental, utilities bill, a car installment and more as per the personal budget as per attached. Joe is facing difficulty meeting the monthly obligations and savings is just not viable in the short term. Assets/Liabilities Affordable home valued at Rm300,000, 30 years loan taken when he was 25 years old. Fix Deposit: Rm 10,000 Term Insurance: Rm 150,000 Car: Proton Perdana with 9 years loan term Credit Card Debt: RM10,000 Savings account: RM5,000 Risk Profile: Risk Adverse KWSP Savings: RM35,000 The following are his short term goals and objectives: Currently studying for his MBA on the part time basis and expected to complete in 1 years. To get married within the next 2 years. . . The following are his long term goal and objectives: To upgrade to a premium home valued at RM 500,000 To upgrade his current car from Proton Saga to Honda Civic To have 2 children by the age of 35 years old To retire by the age of 50 years age To support his aging parents who will be approaching retirement in 5 years. . Question: 1. Given the range of objectives that is deemed to be a reasonable lifestyle, your group is expected to provide a comprehensive projections with consideration to time value of money. Appropriate level of assumptions should be undertaken to assist Joe to achieve his life long objectives. Jan. - Apr. 2021 Group Assignment BF1202 Personal Wealth Management Case Study Background Personal Life - An Average Joe in Malaysia Joe is 30 years old and a finance undergraduate that has a sound career as a relationship personal wealth banker in Malaysia. His current income based on his performance is able to generate average monthly income of 6,000 a month. With the norm of meeting basic living expenses such as phone bill, rental, utilities bill, a car installment and more as per the personal budget as per attached. Joe is facing difficulty meeting the monthly obligations and savings is just not viable in the short term. Assets/Liabilities Affordable home valued at Rm300,000, 30 years loan taken when he was 25 years old. Fix Deposit: Rm 10,000 Term Insurance: Rm 150,000 Car: Proton Perdana with 9 years loan term Credit Card Debt: RM10,000 Savings account: RM5,000 Risk Profile: Risk Adverse KWSP Savings: RM35,000 The following are his short term goals and objectives: Currently studying for his MBA on the part time basis and expected to complete in 1 years. To get married within the next 2 years. . . The following are his long term goal and objectives: To upgrade to a premium home valued at RM 500,000 To upgrade his current car from Proton Saga to Honda Civic To have 2 children by the age of 35 years old To retire by the age of 50 years age To support his aging parents who will be approaching retirement in 5 years. . Question: 1. Given the range of objectives that is deemed to be a reasonable lifestyle, your group is expected to provide a comprehensive projections with consideration to time value of money. Appropriate level of assumptions should be undertaken to assist Joe to achieve his life long objectives
