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Report Structure for Personal Financial Planning: 1 . Develop Financial Goals ( One goal in each category ) o Short term ( Less than two
Report Structure for Personal Financial Planning:
Develop Financial Goals One goal in each category
o Short term Less than two years
o Intermediate years
o Long term More than five years
Review Your Current Financial Situation
o Annual Current and Projected Net worth Statement For next five years
o Current Monthly Budget and Projected for next months.
Note: Provide all assumptions taken for projected statements.
Identify Alternative Courses of Action
o Provide at least two alternatives to achieve each goal.
o Support each alternative with relevant financial data.
Evaluate Alternatives
o Take into consideration your life situation, personal values and current economic situation.
o Opportunity cost is what you give up by making a choice.
o The cost, referred to as the tradeoff of a decision, can be measured in money or time
o Consider lost opportunities that will result from your decisions.
o Evaluate the risks faced
o Choose one alternative for each goal which you may like to choose.
Action Plan
o Recommend a timeline and actions to implement each goal.
Review
o Recommend a review plan.
o Support your review plan with reasoning.
Instructions:
Report should start with title page followed by table of contents and ends with references.
May use provided financial statement sheet for guidance.
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