1. Retirement:

• Jill would like to retire at age 65; and
• Jack would prefer to retire when he is 67.

2. Asset evaluation

• Cash & Cash equivalents (bank accounts/CDs/Money Market) RM100,000
• Brokerage account (stocks/bonds) RM315,000 current value
• Retirement Annuity (RM250,000 current value)
• Jills EPF - RM400,000
• Jacks EPF account (RM520,000)
• Home is worth RM388,000 with a RM120,000 mortgage at a 4.5% interest rate
• Jacks car is 3 years old and worth RM27,000. The loan balance is RM9,500.

3. Insurance Coverage

• Jacks life insurance coverage is through work (RM305,000) at RM100/month.
• Jills life insurance coverage is a whole life policy (RM95,000 death benefit, RM25,000 cash value) at RM85/month.
• Jack has taken a disability policy to compensate him if he becomes disabled through work which replaces 60% of his income and Jane has no disability insurance.

3. Other Situation Details

• Jill is currently self-employed.
• Jack grosses approx. RM140,000 per year; Jill makes approx. RM50,000.
• They spend approximately RM6,000 a month on basic living expenses like utilities, entertainment, basic needs like food, property tax, and other expenses.
• The overall fixed income to equity ratio is about 40% fixed income and 60% equities (40/60) of all investable assets.
• The couple has not drafted a will.

What is required from you

You are required to create a feasible personal financial plan by considering the financial situation, goals and implement them.

A) Determine the financial situation and strategies - net worth statement, cash flow statement, debt reduction, savings and personal financial ratios.

B )Insurance Analysis

C) Investment Analysis

D) Estate Plan Review

* no taxation rate