Jones - Financial Statement Case Assignment

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Jones Case Financial Statement Assignment

1. Use the information found in the Jones Data Survey Form.doc for Jim and Connie Jones and the Jones Case - Statement of Financial Position Template.xlsxto prepare a Statement of Financial Position for the Jones family. Be sure to identify the category for each item, the value that should be input, and whether any footnotes are warranted.
2. Use the information found in the Jones Data Survey Form.doc for Jim and Connie Jones and the Jones Case - Cash flow Template.xlsx to prepare a Cash Flow Statement for the Jones family. Be sure to identify the category for each item, the value that should be input, and whether any footnotes are warranted.

Important Template Information: The templates are provided to give you a starting format. The templates may not contain all the categories needed for this case. The templates also may contain unneeded entries. Please modify the template to fit the Jones case as you see it.

A Income Expenses B Cash Flow Statement for For Year Ending December 31, 20XX Huband Salary Wife Salary Interest and Dividends Total Annual Gross Income Fixed Expenses Payroll Taxes Federal Income Tax State Income Taxes Local Income Taxes 401(k) Savings Auto Loan Credi Card Payment Mortgage Homeowner Insurance Pet Care Child Activites Child Care Water/Sewer Auto Repairs/Maintenance Fuel Real Estate Taxes Gas/Oil Electricity Home Maintenance Trash Pickup Cable/Internet Life Insurance Premium Medical insurance Groceries Cell Phone Auto Insurance Total Fixed Expenses Variable Expenses Charitable Giving Healthcare - Medical Healthcare - Prescription Household Items Medical Costs Dining Out/Entertainment. Clothing Other Expenses Vacation Total Variable Expenses Total Expenses Net Available Cash Flow Monthly $ $ $ $ 87,000 $ S $ $ D $ 6,656 $ 7,080 $ 3,480 $ 870 $ 840 $ $ $ $ $ $ 42,000 45,000 10,200 600 600 $ 2,400 $ 1,980 $ 1,200 $ 1,500 $ 1,200 $ 360 $ 1,920 $ $ $ $ $ 1,350 4,260 900 8,052 1,104 1,500 900 $ $ $ $ $ $ 77,924 1,008 4,740 6,600 2,700 3,924 750 300 360 480 $ 1,200 $ 1,800 $ $ $ 4,890 $82,814 $ 4,187 $ 349 E F 48% 52% 0% 100% 8% 8% 4% 1% 1% 2% 5% 1% 9% 1% 2% 1% 12% 1% 1% 3% 2% 1% 2% 1% 0% 2% 1% 5% 8% 3% 5% 90% 1% 0% 0% 1% 0% 1% 2% 0% 0% 6% 95% 5% G H i I J Personal Home Vehicle Insurance Taxes Income K Cash Mischllaneous Cell Phone Charitable Donations Child Activites Child Care Clothing Credit Card Debt Dining Out Entertainment Groceries Healthcare Medical Healthcare Prescription Household Items Pet Care First Mortgage Real Estate Tax Homeowner's Insurance Electricity Gas/Oil Trash Pickup Water/Sewer Cable/Satellite TV Internet Maintenance - Regular Loan Payment Insurance Fuel Repairs/Maintenance Life Insurance Medical Insumace Client FICA Client Medicare Co-Client FICA Co-Client Medicare Federal Income State Income Local Income Salary L Monthly Yearly 200 225 63 75 850 150 75 50 50 550 25 30 40 125 671 165 92 125 100 30 50 125 35 100 84 395 217 51 233 54 M 355 4260 327 200 50 3924 2400 600 590 290 73 7250 2400 2700 756 900 10200 1800 900 600 600 6600 300 360 480 1500 8052 1980 1104 1500 1200 360 600 1500 420 1200 1008 4740 2604 612 2796 648 7080 3480 876 87000 N Combined 1200 1920 O 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 A Assets B Cash & Cash Equivalents C Investment Assets 28 29 30 31 32 33 34 35 36 Total Assets Checking account - JT Disability Insurance - W Disability Insurance - H Life insurance cash value - W Retirement Assets Use Assets 401(k) - H 401(k) - W D 37 38 39 40 41 H owned by husband = 42 W owned by wife 43 JT=Joint 44 45 Money Market Mutual fund - H Mutual funds - JT E Residence- JT Personal Property - JT Buick - JT Chevy Van - JT F $ $ $ $ $ $ H Name Statement of Financial Position As of December 31, 20XX G 3,000 30,000 (2500 monthly) 21,000 (1750 monthly) 3,000 57,000 4,000 3,000 7,000 4,000 7,200 11,200 130,000 50,000 7,500 10,000 $ 197,500 Liabilities $ 272,700 Net Worth J Total Liabilities K Short-term Liabilities Chase credit card - JT HSBC credit card - W Long-term Liabilities Chevy Van - JT Buick - JT Credit Card - W M Mortgage on residence- JT Mortgage on vacation home - JT Total Liabilities and Net Worth N $ $ $ 0 3,000 3,000 7,856 5,011 110,295 $ 123,162 $ 126,162 $ 146,538 $ 272,700 P Personal Information Full name Gender Date of birth Marital status Employment status Employment income Other pre-retirement income (Do not include investment income) Citizenship State of residence Name Benjamin Jones James Jones X Male 07 Personal Information $ S Single X Separated 0 14 /1988 USA PA Client Retired X Business Owner Homemaker Not Currently Employed 42,000 Date of Birth 02 Female 1 26 Married Children, Grandchildren, and Other Dependents Widowed Employed /2013 Divorced 1 Connie Jones 12 $ $ Relationship X Child Child Child Child Male X 05 0 Co-Client Female Single X Married Separated USA / 1990 Retired X Employed Business Owner Homemaker Not Currently Employed 45,000 Grandchild Grandchild Grandchild Grandchild Widowed Divorced Other Dependent Other Dependent Other Dependent Other Dependent 401(k) Plans Description: Employer 401(k) - Jim Current total value: $4,000 Current Roth value: $ Asset Allocation: Cash Equivalents +Other Income Intermediate Term Bonds 60 Large Cap Value Stock 5 % Mid Cap Stock 5 % International Stock % % % % Assign - How to Use:_(check one) Fund All Goals X Earmark to goal: Retirement Not Used in Plan Investment Assets Your contributions: Total income from this employer: $42,000 Will this amount inflate? No X Yes - at 3% Rate Short-Term Bonds Long-Term Bonds Large Cap Growth Stock Small Cap Stock Emerging Market Stock Whose plan: X Client Pre-tax contributions: Enter % of annual income 2% % or After-tax contributions (non-Roth): % Roth contributions: % or S Year contributions begin: current Contributions end: X Client's Retirement Co-Client's Retirement Employer contributions If your employer matches your contributions, complete this section. Employer will match this % of your contribution: 100 Up until your contribution reaches: 3 % Then your employer will match this % of your contribution: 50 % Up until your total contribution reaches: 5% % Assume max contribution each year % 15 % 10 % 5 % % Year Co-Client 0 401(k) Plans Type of plan: 401(k) Description: Employer 401(k) Plan - Connie, Current total value: $7,200 Current Roth value: $ Asset Allocation: Cash Equivalents Intermediate Term Bonds Large Cap Value Stock Mid Cap Stock International Stock Other Assign - How to Use:_(check one) Income % % Fund All Goals X Earmark to goal: Not Used in Plan % 10 % % % Your contributions: Investment Assets Total income from this employer: $45,000 Will this amount inflate? No X Yes - at 3% Retirement Short-Term Bonds Long-Term Bonds Large Cap Growth Stock Small Cap Stock Emerging Market Stock Roth contributions: % or $ Year contributions begin: Current_ Contributions end: X Client's Retirement rate Pre-tax contributions: Enter % of annual income 3 % or After-tax contributions (non-Roth): % Whose plan: Employer contributions If your Employer matches your contributions, complete this section. Employer will match this % of your contribution: 50 % Up until your contribution reaches: 6 % Then your employer will match this % of your contribution: Up until your total contribution reaches: % Co-Client's Retirement Year Client X Co-Client Assume max contribution each year % % 40 % 50 % % % Traditional IRAS Who is the owner: Current value: $ Assign - How to Use: (check one) Fund All Goals Pre-tax: Not Used in Plan Annual additions: (check one) After-tax: Asset Allocation: Client Year additions begin: Year additions end: Roth IRAS Who is the owner: Current value: $ Cash Equivalents Intermediate Term Bonds Large Cap Value Stock Mid Cap Stock International Stock Other Earmark to goal: Additions: $ Maximum contribution each year Asset Allocation: Additions: S Maximum contribution each year Assign - How to Use:_(check one) Fund All Goals Not Used in Plan Annual additions: (check one) Co-Client After-tax: Additions: S Year additions begin: Year additions end: Cash Equivalents Client Co-Client % % % Intermediate Term Bonds Large Cap Value Stock Mid Cap Stock International Stock Other % % % Earmark to goal: Maximum contribution each year Investment Assets % % % % % % Description: After tax-value: $ Inflate? No Short-Term Bonds Long-Term Bonds Large Cap Growth Stock Small Cap Stock Emerging Market Stock Description: Inflate? Yes - at No Yes - at Short-Term Bonds Long-Term Bonds Large Cap Growth Stock Small Cap Stock Emerging Market Stock rate rate % % % % % % % % % % Coverdell Accounts (ESA) Who is the owner: Custodial Current value: $ Assign - How to Use:_(check one) Fund All Goals Not Used in Plan Annual additions: (check one) Additions: $ Maximum contribution each year Year additions begin Year additions end: Asset Allocation: Cash Equivalents Earmark to goal: Intermediate Term Bonds Large Cap Value Stock Mid Cap Stock International Stock Other 529 Savings Plan Who is the owner: Current value: $ Assign - How to Use: (check one) Fund All Goals Not Used in Plan Annual additions: (check one) Additions: $ Year additions begin: Year additions end: Asset Allocation: % % % % % % Client Co-Client Cash Equivalents Intermediate Term Bonds Large Cap Value Stock Mid Cap Stock International Stock Other Earmark to goal: % % % % % % Investment Assets Description: Inflate? No Yes - at Short-Term Bonds Long-Term Bonds Large Cap Growth Stock Small Cap Stock Emerging Market Stock Inflate? No Description: Is this asset subject to state taxes? No Yes at Short-Term Bonds Long-Term Bonds rate Large Cap Growth Stock Small Cap Stock Emerging Market Stock % % % % % rate % % % % % Yes Other Tax-Deferred Who is the owner: Client Current value: $_ Assign - How to Use:_(check one) Fund All Goals Not Used in Plan Annual additions: (check one) Additions: $ Year additions begin: Year additions end: Asset Allocation: Earmark to goal: Cash Equivalents Intermediate Term Bonds Large Cap Value Stock Mid Cap Stock International Stock Other U.S. Savings Bond Who is the owner: Client Current value: $ Co-Client Assign - How to Use:_(check one) Fund All Goals Not Used in Plan Annual additions: (check one) Additions: $_ Year additions begin: Year additions end: % % % % % % Co-Client Earmark to goal: Investment Assets Description: Cost basis: $ Inflate? No Short-Term Bonds Long-Term Bonds Yes at Large Cap Growth Stock Small Cap Stock Emerging Market Stock Description: Cost basis: $ Inflate? No Yes - at rate rate _% % % % % Taxable Who is the owner: If Joint, what kind? Ticker symbol: Current value: $4,000 Survivorship Other w/ Client Description: Money Market Mutual fund Assign - How to Use:_(check one) X Fund All Goals Not Used in Plan Asset Allocation: Annual additions: (check one) Additions: S Year additions begin: Year additions end: Year Cash Equivalents X Client Who is the owner: If Joint, what kind? Intermediate Term Bonds Large Cap Value Stock Mid Cap Stock International Stock Other Description: Checking_ Ticker symbol: Current value: $3000 Earmark to goal: Asset Allocation: Assign - How to Use: (check one) Fund All Goals Not Used in Plan Annual additions: (check one) Additions: S Year additions begin: Year additions end: Co-Client Joint Custodial Client Survivorship Other w/ Client 100 % % % % % % Cash Equivalents Intermediate Term Bonds Large Cap Value Stock Mid Cap Stock International Stock Other Earmark to goal: Investment Assets % % % % % % Entirety Other w/ Co-Client Common Co-Client X Joint Common Units: Cost basis: $4,000 Inflate? No Short-Term Bonds. Long-Term Bonds Large Cap Growth Stock Small Cap Stock Emerging Market Stock Community Property Custodial Other w/ Co-Client Inflate? Units: Cost basis: $ Yes - at Entirety Community Property No Yes at rate Short-Term Bonds Long-Term Bonds Large Cap Growth Stock Small Cap Stock Emerging Market Stock % % % % % rate % % % % % Tax-Free Who is the owner: If Joint, what kind? Description: Ticker symbol: Current value: $ Is this asset subject to state taxes? Assign - How to Use:_(check one) Fund All Goals Not Used in Plan Annual additions: (check one) Additions: $ Year additions begin: Year additions end: Asset Allocation: Who is the owner: If Joint, what kind? Cash Equivalents Intermediate Term Bonds Large Cap Value Stock Mid Cap Stock International Stock Other Description: Ticker symbol: Current value: $ Client Co-Client Joint Survivorship Other w/ Client Earmark to goal: Asset Allocation: Annual additions: (check one) Additions: $ Year additions begin: Year additions end: Client Is this asset subject to state taxes? Assign - How to Use:_ _(check one) Fund All Goals Not Used in Plan % % % Cash Equivalents Intermediate Term Bonds Large Cap Value Stock Mid Cap Stock International Stock Other % % % Survivorship Other w/ Client Earmark to goal: Investment Assets % % % % % % Common No Entirety Other w/ Co-Client Yes No Custodial Co-Client Joint Custodial Units: Cost basis: $ Inflate? No Yes Community Property Short-Term Bonds Long-Term Bonds Large Cap Growth Stock Small Cap Stock Emerging Market Stock Units: Cost basis: $ Yes - at Common Entirety Community Property Other w/ Co-Client Inflate? No Yes - at rate Short-Term Bonds Long-Term Bonds Large Cap Growth Stock Small Cap Stock Emerging Market Stock % % % % % rate % % % % % Personal and Business Assets (Homes, Vehicles, Personal Property, etc) Owner: Client If Joint, what kind? Assign - How to Use:_(check one) Fund All Goals X Not Used in Plan Owner: Client Co-Client X Joint Survivorship Other w/ Client Description: Residence No X Will the value of this asset increase each year? Do you intend to sell this asset to help fund your goals? Year to sell If Joint, what kind? Earmark to goal: Owner: Client If Joint, what kind? Co-Client X Joint Survivorship Other w/ Client Assign - How to Use:_(check one) Fund All Goals X Not Used in Plan Earmark to goal: Co-Client X Joint Survivorship Other w/ Client Other Assets Custodial Common X Entirety Other w/ Co-Client Assign - How to Use:_(check one) Fund All Goals X Not Used in Plan Description: Chevy Van Yes Will the value of this asset increase each year? X No Do you intend to sell this asset to help fund your goals? X__No Year to sell Earmark to goal: Custodial Common Yes X_No Description: Buick Will the value of this asset increase each year? X__No Do you intend to sell this asset to help fund your goals? Year to sell Current value: $130,000 3 % Yes Future value after tax: $ Other w/ Co-Client Custodial Common Entirety Community Property Community Property Current value: $10,000 % Yes Future value after tax: $ Other w/ Co-Client Entirety Community Property Current value: $7,500 % Yes X_ _No Yes Future value after tax: $ Owner: Client If Joint, what kind? Co-Client X Joint Survivorship Other w/ Client Assign - How to Use:_(check one) Fund All Goals X Not Used in Plan Other Assets Earmark to goal: Custodial Common Description: Personal Property Will the value of this asset increase each year? X_ No Yes Do you intend to sell this asset to help fund your goals? _X__No Yes Year to sell Entirety Other w/ Co-Client Community Property Current value: $50,000 % Future value after tax: $ Insurance Assets - Cash Value Life Insurance Client X Co-Client Trust Owner: Description: Universal Life Current cash value: $3,000 Average annual growth rate on cash value:4% Death Benefit and Premium Death benefit amount: 250,000 How long will premiums be paid? When will this policy terminate? Beneficiaries Name James Jones_ Name Name X When insured dies Year Assign - How to Use:_(check one) Fund All Goals Not Used in Plan Do you intend to surrender this policy to help fund your Goals? X_ No Yes If Yes, Year of withdrawal: Future cash value of policy: $_ Client Beneficiaries Name Name Name Co-Client Earmark to goal: Death Benefit and Premium Death benefit amount: How long will pre ims be paid? When will this policy terminate? to death of insured Owner: Description: Current cash value: $ Average annual growth rate on cash value:_ Relationship Relationship Relationship Assign - How to Use:_(check one) Fund All Goals Not Used in Plan Other Assets Trust Insured: Client X Co-Client Relationship Relationship Relationship Earmark to goal: Premium amount: $_1,000 (before tax) Tax-free withdrawal: $ Spouse When insured dies Year Do you intend to surrender this policy to help fund your Goals? No If Yes, Year of withdrawal: Future cash value of policy: $_ Insured: Client Percent 100 Percent Percent Premium amount: $ Co-Client Yes (before tax) Tax-free withdrawal: $ Percent Percent Percent 1st to Die 2nd to Die every Year Primary/Contingent Primary Primary/Contingent_ Primary/Contingent 1st to Die every 2nd to Die Primary/Contingent Primary/Contingent_ Primary/Contingent_ Insurance Assets - Cash Value Life Insurance Client X Co-Client Trust Owner: Description: Universal Life Current cash value: $3,000 Average annual growth rate on cash value:4% Death Benefit and Premium Death benefit amount: 250,000 How long will premiums be paid? When will this policy terminate? Beneficiaries Name James Jones_ Name Name X When insured dies Year Assign - How to Use:_(check one) Fund All Goals Not Used in Plan Do you intend to surrender this policy to help fund your Goals? X_ No Yes If Yes, Year of withdrawal: Future cash value of policy: $_ Client Beneficiaries Name Name Name Co-Client Earmark to goal: Death Benefit and Premium Death benefit amount: How long will pre ims be paid? When will this policy terminate? to death of insured Owner: Description: Current cash value: $ Average annual growth rate on cash value:_ Relationship Relationship Relationship Assign - How to Use:_(check one) Fund All Goals Not Used in Plan Other Assets Trust Insured: Client X Co-Client Relationship Relationship Relationship Earmark to goal: Premium amount: $_1,000 (before tax) Tax-free withdrawal: $ Spouse When insured dies Year Do you intend to surrender this policy to help fund your Goals? No If Yes, Year of withdrawal: Future cash value of policy: $_ Insured: Client Percent 100 Percent Percent Premium amount: $ Co-Client Yes (before tax) Tax-free withdrawal: $ Percent Percent Percent 1st to Die 2nd to Die every Year Primary/Contingent Primary Primary/Contingent_ Primary/Contingent 1st to Die every 2nd to Die Primary/Contingent Primary/Contingent_ Primary/Contingent_ Other Insurance Policies Disability (Group/Personal/Other) Insured: X Client Premium amount: $ Monthly benefit amount: $1750 Benefit period (select one) Period of Time Co-Client. Insured: Premium amount: $ Monthly Benefit Amount: $2500 Benefit period (select one) Period of time Client X Co-Client X Until Age 65 Inflation option: (check One) X _None Simple If you selected Simple or Compounded, enter rate: Other Insurance Policies Description: Homeowner Premium amount: $1100_ every Description: Premium amount: $ Description: Premium amount: $ per X Until age 65 Inflation option: (check One) X None Simple Description: Premium amount: $ every per If you selected Simple or Compounded, enter rate: Property & Casualty Insurance Policies (Auto, Homeowners, Umbrella/Other) Description: Auto_ Premium amount: $327 per Compounded per per X per per Description: Tax Status: X__Pre-Tax Elimination period: 90 days Compounded % Description: Tax status: X__Pre-Tax Elimination period: 6 months__ % Policy expiration date: June 1, 20XX Month Quarter Six Months Employer group After-Tax Policy expiration date: Month Quarter Policy expiration date: Month Employer group After-Tax Policy expiration date: May 15, 20XX_ Month Quarter Six Months X Year Quarter Policy expiration date: Month Quarter Six Months Six Months Year Six Months Year Year Year Liabilities - Detailed (Home Loans, Vehicle Loans, Business Loans, Other Personal Debt) Description: Mortgage on residence Whose debt? Client If Joint, what kind? Lender: Hometown Bank Initial loan amount: $115,000 Interest rate: 5.75 Lender: Hometown Bank Initial loan amount: $9500 Interest rate: 7%. Description: Auto loan - Chevy van Whose debt? Client If Joint, what kind? Lender: Hometown Bank Initial loan amount: $7000 Interest rate: 6.75%- Description: Auto loan - Buick Whose debt? Client If Joint, what kind? Description: Credit card Whose debt? Client If Joint, what kind? Co-Client X Joint Survivorship Other w/ Client Lender: Citibank Initial loan amount: $ Interest rate: 11.49%- Liabilities Common X Entirety Other w/ Co-Client _Monthly payment: $_671.10_ Co-Client X Joint Survivorship Other w/ Client Co-Client X Joint Survivorship Other w/ Client Monthly payment: $_188.11 Outstanding balance: $110,295 Date loan began: 3 yrs ago Common Entirety Community Property Other w/ Co-Client Community Property X Co-Client Joint Survivorship Other w/ Client. Outstanding balance: $7856_ Date loan began: 1 year ago Monthly payment: $_166.81_ Monthly payment: $_75_ Common Entirety Community Property Other w/ Co-Client Outstanding balance: $5011 Date loan began: 15 months ago Term: 360 months Term: 60 months Outstanding balance: $3000 Date loan began: Common Entirety Community Property Other w/ Co-Client Term: 48 months Term: Personal and Family Expenses Alimony Care for Parent/Other Cash Miscellaneous Cell Phone Expense Item Charitable Donations. Child Activities Child Allowance/Expense Child Care Child Support Clothing Club Dues Credit Card Debt Payment Dining Out Dry Cleaning Entertainment Gifts Groceries Healthcare Dental Healthcare Medical Healthcare Prescription Healthcare - Vision Hobbies Household Items Personal Loan Payment Pet Care Public Transportation Recreation Subscriptions Student Loan Payment Vacation/Travel Other Vacation/Travel Other Personal Insurance Expenses Expense Item Disability Insurance Life Insurance LTC Insurance Medical Insurance Umbrella Liability Other 84 395 Monthly Budget Amount Current 200 225 63 75 850 150 75 50 50 550 25 30 40 Budget Information 125 Retirement Monthly Budget Amount Current Retirement I Home Expenses Category First Mortgage Second Mortgage Equity Line Real Estate Tax Rent Homeowner's Insurance Association Fees Electricity Gas/Oil Trash Pickup Water/Sewer Cable/Satellite TV Internet Telephone (land line) Lawn Care Maintenance - Major Repair Maintenance - Regular Furniture Household Help Other Vehicle Expenses Category Loan Payment Lease Payment Insurance Personal Property Tax Fuel Other Repairs/Maintenance Parking/Tolls Docking/Storage 355 327 Monthly Budget Amount Current Retirement 200 50 671 165 92 Monthly Budget Amount Current Retirement 125 100 30 50 125 35 100 Taxes Tax Client FICA Client Medicare Co-Client FICA Co-Client Medicare Federal Income State Income Local Income Other Income Category Salary Investment Income Self-Employment Income Alimony Received Child Support Received Other Monthly Budget Amount Retirement Current 217 51 233 54 590 290 73 Budget Information Monthly Budget Amount Current Retirement 7250 A Income Expenses B Cash Flow Statement for For Year Ending December 31, 20XX Huband Salary Wife Salary Interest and Dividends Total Annual Gross Income Fixed Expenses Payroll Taxes Federal Income Tax State Income Taxes Local Income Taxes 401(k) Savings Auto Loan Credi Card Payment Mortgage Homeowner Insurance Pet Care Child Activites Child Care Water/Sewer Auto Repairs/Maintenance Fuel Real Estate Taxes Gas/Oil Electricity Home Maintenance Trash Pickup Cable/Internet Life Insurance Premium Medical insurance Groceries Cell Phone Auto Insurance Total Fixed Expenses Variable Expenses Charitable Giving Healthcare - Medical Healthcare - Prescription Household Items Medical Costs Dining Out/Entertainment. Clothing Other Expenses Vacation Total Variable Expenses Total Expenses Net Available Cash Flow Monthly $ $ $ $ 87,000 $ S $ $ D $ 6,656 $ 7,080 $ 3,480 $ 870 $ 840 $ $ $ $ $ $ 42,000 45,000 10,200 600 600 $ 2,400 $ 1,980 $ 1,200 $ 1,500 $ 1,200 $ 360 $ 1,920 $ $ $ $ $ 1,350 4,260 900 8,052 1,104 1,500 900 $ $ $ $ $ $ 77,924 1,008 4,740 6,600 2,700 3,924 750 300 360 480 $ 1,200 $ 1,800 $ $ $ 4,890 $82,814 $ 4,187 $ 349 E F 48% 52% 0% 100% 8% 8% 4% 1% 1% 2% 5% 1% 9% 1% 2% 1% 12% 1% 1% 3% 2% 1% 2% 1% 0% 2% 1% 5% 8% 3% 5% 90% 1% 0% 0% 1% 0% 1% 2% 0% 0% 6% 95% 5% G H i I J Personal Home Vehicle Insurance Taxes Income K Cash Mischllaneous Cell Phone Charitable Donations Child Activites Child Care Clothing Credit Card Debt Dining Out Entertainment Groceries Healthcare Medical Healthcare Prescription Household Items Pet Care First Mortgage Real Estate Tax Homeowner's Insurance Electricity Gas/Oil Trash Pickup Water/Sewer Cable/Satellite TV Internet Maintenance - Regular Loan Payment Insurance Fuel Repairs/Maintenance Life Insurance Medical Insumace Client FICA Client Medicare Co-Client FICA Co-Client Medicare Federal Income State Income Local Income Salary L Monthly Yearly 200 225 63 75 850 150 75 50 50 550 25 30 40 125 671 165 92 125 100 30 50 125 35 100 84 395 217 51 233 54 M 355 4260 327 200 50 3924 2400 600 590 290 73 7250 2400 2700 756 900 10200 1800 900 600 600 6600 300 360 480 1500 8052 1980 1104 1500 1200 360 600 1500 420 1200 1008 4740 2604 612 2796 648 7080 3480 876 87000 N Combined 1200 1920 O 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 A Assets B Cash & Cash Equivalents C Investment Assets 28 29 30 31 32 33 34 35 36 Total Assets Checking account - JT Disability Insurance - W Disability Insurance - H Life insurance cash value - W Retirement Assets Use Assets 401(k) - H 401(k) - W D 37 38 39 40 41 H owned by husband = 42 W owned by wife 43 JT=Joint 44 45 Money Market Mutual fund - H Mutual funds - JT E Residence- JT Personal Property - JT Buick - JT Chevy Van - JT F $ $ $ $ $ $ H Name Statement of Financial Position As of December 31, 20XX G 3,000 30,000 (2500 monthly) 21,000 (1750 monthly) 3,000 57,000 4,000 3,000 7,000 4,000 7,200 11,200 130,000 50,000 7,500 10,000 $ 197,500 Liabilities $ 272,700 Net Worth J Total Liabilities K Short-term Liabilities Chase credit card - JT HSBC credit card - W Long-term Liabilities Chevy Van - JT Buick - JT Credit Card - W M Mortgage on residence- JT Mortgage on vacation home - JT Total Liabilities and Net Worth N $ $ $ 0 3,000 3,000 7,856 5,011 110,295 $ 123,162 $ 126,162 $ 146,538 $ 272,700 P Personal Information Full name Gender Date of birth Marital status Employment status Employment income Other pre-retirement income (Do not include investment income) Citizenship State of residence Name Benjamin Jones James Jones X Male 07 Personal Information $ S Single X Separated 0 14 /1988 USA PA Client Retired X Business Owner Homemaker Not Currently Employed 42,000 Date of Birth 02 Female 1 26 Married Children, Grandchildren, and Other Dependents Widowed Employed /2013 Divorced 1 Connie Jones 12 $ $ Relationship X Child Child Child Child Male X 05 0 Co-Client Female Single X Married Separated USA / 1990 Retired X Employed Business Owner Homemaker Not Currently Employed 45,000 Grandchild Grandchild Grandchild Grandchild Widowed Divorced Other Dependent Other Dependent Other Dependent Other Dependent 401(k) Plans Description: Employer 401(k) - Jim Current total value: $4,000 Current Roth value: $ Asset Allocation: Cash Equivalents +Other Income Intermediate Term Bonds 60 Large Cap Value Stock 5 % Mid Cap Stock 5 % International Stock % % % % Assign - How to Use:_(check one) Fund All Goals X Earmark to goal: Retirement Not Used in Plan Investment Assets Your contributions: Total income from this employer: $42,000 Will this amount inflate? No X Yes - at 3% Rate Short-Term Bonds Long-Term Bonds Large Cap Growth Stock Small Cap Stock Emerging Market Stock Whose plan: X Client Pre-tax contributions: Enter % of annual income 2% % or After-tax contributions (non-Roth): % Roth contributions: % or S Year contributions begin: current Contributions end: X Client's Retirement Co-Client's Retirement Employer contributions If your employer matches your contributions, complete this section. Employer will match this % of your contribution: 100 Up until your contribution reaches: 3 % Then your employer will match this % of your contribution: 50 % Up until your total contribution reaches: 5% % Assume max contribution each year % 15 % 10 % 5 % % Year Co-Client 0 401(k) Plans Type of plan: 401(k) Description: Employer 401(k) Plan - Connie, Current total value: $7,200 Current Roth value: $ Asset Allocation: Cash Equivalents Intermediate Term Bonds Large Cap Value Stock Mid Cap Stock International Stock Other Assign - How to Use:_(check one) Income % % Fund All Goals X Earmark to goal: Not Used in Plan % 10 % % % Your contributions: Investment Assets Total income from this employer: $45,000 Will this amount inflate? No X Yes - at 3% Retirement Short-Term Bonds Long-Term Bonds Large Cap Growth Stock Small Cap Stock Emerging Market Stock Roth contributions: % or $ Year contributions begin: Current_ Contributions end: X Client's Retirement rate Pre-tax contributions: Enter % of annual income 3 % or After-tax contributions (non-Roth): % Whose plan: Employer contributions If your Employer matches your contributions, complete this section. Employer will match this % of your contribution: 50 % Up until your contribution reaches: 6 % Then your employer will match this % of your contribution: Up until your total contribution reaches: % Co-Client's Retirement Year Client X Co-Client Assume max contribution each year % % 40 % 50 % % % Traditional IRAS Who is the owner: Current value: $ Assign - How to Use: (check one) Fund All Goals Pre-tax: Not Used in Plan Annual additions: (check one) After-tax: Asset Allocation: Client Year additions begin: Year additions end: Roth IRAS Who is the owner: Current value: $ Cash Equivalents Intermediate Term Bonds Large Cap Value Stock Mid Cap Stock International Stock Other Earmark to goal: Additions: $ Maximum contribution each year Asset Allocation: Additions: S Maximum contribution each year Assign - How to Use:_(check one) Fund All Goals Not Used in Plan Annual additions: (check one) Co-Client After-tax: Additions: S Year additions begin: Year additions end: Cash Equivalents Client Co-Client % % % Intermediate Term Bonds Large Cap Value Stock Mid Cap Stock International Stock Other % % % Earmark to goal: Maximum contribution each year Investment Assets % % % % % % Description: After tax-value: $ Inflate? No Short-Term Bonds Long-Term Bonds Large Cap Growth Stock Small Cap Stock Emerging Market Stock Description: Inflate? Yes - at No Yes - at Short-Term Bonds Long-Term Bonds Large Cap Growth Stock Small Cap Stock Emerging Market Stock rate rate % % % % % % % % % % Coverdell Accounts (ESA) Who is the owner: Custodial Current value: $ Assign - How to Use:_(check one) Fund All Goals Not Used in Plan Annual additions: (check one) Additions: $ Maximum contribution each year Year additions begin Year additions end: Asset Allocation: Cash Equivalents Earmark to goal: Intermediate Term Bonds Large Cap Value Stock Mid Cap Stock International Stock Other 529 Savings Plan Who is the owner: Current value: $ Assign - How to Use: (check one) Fund All Goals Not Used in Plan Annual additions: (check one) Additions: $ Year additions begin: Year additions end: Asset Allocation: % % % % % % Client Co-Client Cash Equivalents Intermediate Term Bonds Large Cap Value Stock Mid Cap Stock International Stock Other Earmark to goal: % % % % % % Investment Assets Description: Inflate? No Yes - at Short-Term Bonds Long-Term Bonds Large Cap Growth Stock Small Cap Stock Emerging Market Stock Inflate? No Description: Is this asset subject to state taxes? No Yes at Short-Term Bonds Long-Term Bonds rate Large Cap Growth Stock Small Cap Stock Emerging Market Stock % % % % % rate % % % % % Yes Other Tax-Deferred Who is the owner: Client Current value: $_ Assign - How to Use:_(check one) Fund All Goals Not Used in Plan Annual additions: (check one) Additions: $ Year additions begin: Year additions end: Asset Allocation: Earmark to goal: Cash Equivalents Intermediate Term Bonds Large Cap Value Stock Mid Cap Stock International Stock Other U.S. Savings Bond Who is the owner: Client Current value: $ Co-Client Assign - How to Use:_(check one) Fund All Goals Not Used in Plan Annual additions: (check one) Additions: $_ Year additions begin: Year additions end: % % % % % % Co-Client Earmark to goal: Investment Assets Description: Cost basis: $ Inflate? No Short-Term Bonds Long-Term Bonds Yes at Large Cap Growth Stock Small Cap Stock Emerging Market Stock Description: Cost basis: $ Inflate? No Yes - at rate rate _% % % % % Taxable Who is the owner: If Joint, what kind? Ticker symbol: Current value: $4,000 Survivorship Other w/ Client Description: Money Market Mutual fund Assign - How to Use:_(check one) X Fund All Goals Not Used in Plan Asset Allocation: Annual additions: (check one) Additions: S Year additions begin: Year additions end: Year Cash Equivalents X Client Who is the owner: If Joint, what kind? Intermediate Term Bonds Large Cap Value Stock Mid Cap Stock International Stock Other Description: Checking_ Ticker symbol: Current value: $3000 Earmark to goal: Asset Allocation: Assign - How to Use: (check one) Fund All Goals Not Used in Plan Annual additions: (check one) Additions: S Year additions begin: Year additions end: Co-Client Joint Custodial Client Survivorship Other w/ Client 100 % % % % % % Cash Equivalents Intermediate Term Bonds Large Cap Value Stock Mid Cap Stock International Stock Other Earmark to goal: Investment Assets % % % % % % Entirety Other w/ Co-Client Common Co-Client X Joint Common Units: Cost basis: $4,000 Inflate? No Short-Term Bonds. Long-Term Bonds Large Cap Growth Stock Small Cap Stock Emerging Market Stock Community Property Custodial Other w/ Co-Client Inflate? Units: Cost basis: $ Yes - at Entirety Community Property No Yes at rate Short-Term Bonds Long-Term Bonds Large Cap Growth Stock Small Cap Stock Emerging Market Stock % % % % % rate % % % % % Tax-Free Who is the owner: If Joint, what kind? Description: Ticker symbol: Current value: $ Is this asset subject to state taxes? Assign - How to Use:_(check one) Fund All Goals Not Used in Plan Annual additions: (check one) Additions: $ Year additions begin: Year additions end: Asset Allocation: Who is the owner: If Joint, what kind? Cash Equivalents Intermediate Term Bonds Large Cap Value Stock Mid Cap Stock International Stock Other Description: Ticker symbol: Current value: $ Client Co-Client Joint Survivorship Other w/ Client Earmark to goal: Asset Allocation: Annual additions: (check one) Additions: $ Year additions begin: Year additions end: Client Is this asset subject to state taxes? Assign - How to Use:_ _(check one) Fund All Goals Not Used in Plan % % % Cash Equivalents Intermediate Term Bonds Large Cap Value Stock Mid Cap Stock International Stock Other % % % Survivorship Other w/ Client Earmark to goal: Investment Assets % % % % % % Common No Entirety Other w/ Co-Client Yes No Custodial Co-Client Joint Custodial Units: Cost basis: $ Inflate? No Yes Community Property Short-Term Bonds Long-Term Bonds Large Cap Growth Stock Small Cap Stock Emerging Market Stock Units: Cost basis: $ Yes - at Common Entirety Community Property Other w/ Co-Client Inflate? No Yes - at rate Short-Term Bonds Long-Term Bonds Large Cap Growth Stock Small Cap Stock Emerging Market Stock % % % % % rate % % % % % Personal and Business Assets (Homes, Vehicles, Personal Property, etc) Owner: Client If Joint, what kind? Assign - How to Use:_(check one) Fund All Goals X Not Used in Plan Owner: Client Co-Client X Joint Survivorship Other w/ Client Description: Residence No X Will the value of this asset increase each year? Do you intend to sell this asset to help fund your goals? Year to sell If Joint, what kind? Earmark to goal: Owner: Client If Joint, what kind? Co-Client X Joint Survivorship Other w/ Client Assign - How to Use:_(check one) Fund All Goals X Not Used in Plan Earmark to goal: Co-Client X Joint Survivorship Other w/ Client Other Assets Custodial Common X Entirety Other w/ Co-Client Assign - How to Use:_(check one) Fund All Goals X Not Used in Plan Description: Chevy Van Yes Will the value of this asset increase each year? X No Do you intend to sell this asset to help fund your goals? X__No Year to sell Earmark to goal: Custodial Common Yes X_No Description: Buick Will the value of this asset increase each year? X__No Do you intend to sell this asset to help fund your goals? Year to sell Current value: $130,000 3 % Yes Future value after tax: $ Other w/ Co-Client Custodial Common Entirety Community Property Community Property Current value: $10,000 % Yes Future value after tax: $ Other w/ Co-Client Entirety Community Property Current value: $7,500 % Yes X_ _No Yes Future value after tax: $ Owner: Client If Joint, what kind? Co-Client X Joint Survivorship Other w/ Client Assign - How to Use:_(check one) Fund All Goals X Not Used in Plan Other Assets Earmark to goal: Custodial Common Description: Personal Property Will the value of this asset increase each year? X_ No Yes Do you intend to sell this asset to help fund your goals? _X__No Yes Year to sell Entirety Other w/ Co-Client Community Property Current value: $50,000 % Future value after tax: $ Insurance Assets - Cash Value Life Insurance Client X Co-Client Trust Owner: Description: Universal Life Current cash value: $3,000 Average annual growth rate on cash value:4% Death Benefit and Premium Death benefit amount: 250,000 How long will premiums be paid? When will this policy terminate? Beneficiaries Name James Jones_ Name Name X When insured dies Year Assign - How to Use:_(check one) Fund All Goals Not Used in Plan Do you intend to surrender this policy to help fund your Goals? X_ No Yes If Yes, Year of withdrawal: Future cash value of policy: $_ Client Beneficiaries Name Name Name Co-Client Earmark to goal: Death Benefit and Premium Death benefit amount: How long will pre ims be paid? When will this policy terminate? to death of insured Owner: Description: Current cash value: $ Average annual growth rate on cash value:_ Relationship Relationship Relationship Assign - How to Use:_(check one) Fund All Goals Not Used in Plan Other Assets Trust Insured: Client X Co-Client Relationship Relationship Relationship Earmark to goal: Premium amount: $_1,000 (before tax) Tax-free withdrawal: $ Spouse When insured dies Year Do you intend to surrender this policy to help fund your Goals? No If Yes, Year of withdrawal: Future cash value of policy: $_ Insured: Client Percent 100 Percent Percent Premium amount: $ Co-Client Yes (before tax) Tax-free withdrawal: $ Percent Percent Percent 1st to Die 2nd to Die every Year Primary/Contingent Primary Primary/Contingent_ Primary/Contingent 1st to Die every 2nd to Die Primary/Contingent Primary/Contingent_ Primary/Contingent_ Insurance Assets - Cash Value Life Insurance Client X Co-Client Trust Owner: Description: Universal Life Current cash value: $3,000 Average annual growth rate on cash value:4% Death Benefit and Premium Death benefit amount: 250,000 How long will premiums be paid? When will this policy terminate? Beneficiaries Name James Jones_ Name Name X When insured dies Year Assign - How to Use:_(check one) Fund All Goals Not Used in Plan Do you intend to surrender this policy to help fund your Goals? X_ No Yes If Yes, Year of withdrawal: Future cash value of policy: $_ Client Beneficiaries Name Name Name Co-Client Earmark to goal: Death Benefit and Premium Death benefit amount: How long will pre ims be paid? When will this policy terminate? to death of insured Owner: Description: Current cash value: $ Average annual growth rate on cash value:_ Relationship Relationship Relationship Assign - How to Use:_(check one) Fund All Goals Not Used in Plan Other Assets Trust Insured: Client X Co-Client Relationship Relationship Relationship Earmark to goal: Premium amount: $_1,000 (before tax) Tax-free withdrawal: $ Spouse When insured dies Year Do you intend to surrender this policy to help fund your Goals? No If Yes, Year of withdrawal: Future cash value of policy: $_ Insured: Client Percent 100 Percent Percent Premium amount: $ Co-Client Yes (before tax) Tax-free withdrawal: $ Percent Percent Percent 1st to Die 2nd to Die every Year Primary/Contingent Primary Primary/Contingent_ Primary/Contingent 1st to Die every 2nd to Die Primary/Contingent Primary/Contingent_ Primary/Contingent_ Other Insurance Policies Disability (Group/Personal/Other) Insured: X Client Premium amount: $ Monthly benefit amount: $1750 Benefit period (select one) Period of Time Co-Client. Insured: Premium amount: $ Monthly Benefit Amount: $2500 Benefit period (select one) Period of time Client X Co-Client X Until Age 65 Inflation option: (check One) X _None Simple If you selected Simple or Compounded, enter rate: Other Insurance Policies Description: Homeowner Premium amount: $1100_ every Description: Premium amount: $ Description: Premium amount: $ per X Until age 65 Inflation option: (check One) X None Simple Description: Premium amount: $ every per If you selected Simple or Compounded, enter rate: Property & Casualty Insurance Policies (Auto, Homeowners, Umbrella/Other) Description: Auto_ Premium amount: $327 per Compounded per per X per per Description: Tax Status: X__Pre-Tax Elimination period: 90 days Compounded % Description: Tax status: X__Pre-Tax Elimination period: 6 months__ % Policy expiration date: June 1, 20XX Month Quarter Six Months Employer group After-Tax Policy expiration date: Month Quarter Policy expiration date: Month Employer group After-Tax Policy expiration date: May 15, 20XX_ Month Quarter Six Months X Year Quarter Policy expiration date: Month Quarter Six Months Six Months Year Six Months Year Year Year Liabilities - Detailed (Home Loans, Vehicle Loans, Business Loans, Other Personal Debt) Description: Mortgage on residence Whose debt? Client If Joint, what kind? Lender: Hometown Bank Initial loan amount: $115,000 Interest rate: 5.75 Lender: Hometown Bank Initial loan amount: $9500 Interest rate: 7%. Description: Auto loan - Chevy van Whose debt? Client If Joint, what kind? Lender: Hometown Bank Initial loan amount: $7000 Interest rate: 6.75%- Description: Auto loan - Buick Whose debt? Client If Joint, what kind? Description: Credit card Whose debt? Client If Joint, what kind? Co-Client X Joint Survivorship Other w/ Client Lender: Citibank Initial loan amount: $ Interest rate: 11.49%- Liabilities Common X Entirety Other w/ Co-Client _Monthly payment: $_671.10_ Co-Client X Joint Survivorship Other w/ Client Co-Client X Joint Survivorship Other w/ Client Monthly payment: $_188.11 Outstanding balance: $110,295 Date loan began: 3 yrs ago Common Entirety Community Property Other w/ Co-Client Community Property X Co-Client Joint Survivorship Other w/ Client. Outstanding balance: $7856_ Date loan began: 1 year ago Monthly payment: $_166.81_ Monthly payment: $_75_ Common Entirety Community Property Other w/ Co-Client Outstanding balance: $5011 Date loan began: 15 months ago Term: 360 months Term: 60 months Outstanding balance: $3000 Date loan began: Common Entirety Community Property Other w/ Co-Client Term: 48 months Term: Personal and Family Expenses Alimony Care for Parent/Other Cash Miscellaneous Cell Phone Expense Item Charitable Donations. Child Activities Child Allowance/Expense Child Care Child Support Clothing Club Dues Credit Card Debt Payment Dining Out Dry Cleaning Entertainment Gifts Groceries Healthcare Dental Healthcare Medical Healthcare Prescription Healthcare - Vision Hobbies Household Items Personal Loan Payment Pet Care Public Transportation Recreation Subscriptions Student Loan Payment Vacation/Travel Other Vacation/Travel Other Personal Insurance Expenses Expense Item Disability Insurance Life Insurance LTC Insurance Medical Insurance Umbrella Liability Other 84 395 Monthly Budget Amount Current 200 225 63 75 850 150 75 50 50 550 25 30 40 Budget Information 125 Retirement Monthly Budget Amount Current Retirement I Home Expenses Category First Mortgage Second Mortgage Equity Line Real Estate Tax Rent Homeowner's Insurance Association Fees Electricity Gas/Oil Trash Pickup Water/Sewer Cable/Satellite TV Internet Telephone (land line) Lawn Care Maintenance - Major Repair Maintenance - Regular Furniture Household Help Other Vehicle Expenses Category Loan Payment Lease Payment Insurance Personal Property Tax Fuel Other Repairs/Maintenance Parking/Tolls Docking/Storage 355 327 Monthly Budget Amount Current Retirement 200 50 671 165 92 Monthly Budget Amount Current Retirement 125 100 30 50 125 35 100 Taxes Tax Client FICA Client Medicare Co-Client FICA Co-Client Medicare Federal Income State Income Local Income Other Income Category Salary Investment Income Self-Employment Income Alimony Received Child Support Received Other Monthly Budget Amount Retirement Current 217 51 233 54 590 290 73 Budget Information Monthly Budget Amount Current Retirement 7250