Financial Goals – 2005
- Check on retirement
- Make $x
- Save $x
- Pay an extra $x on the house
- Make $x on investments
- Reach $x in savings
- Revise Will
- Put money in 401K and SEP
- Do a revised plan on how much we need for retirement
- Eliminate balance on credit card
Your Financial Goals
Income
Income Streams
Business or Job Income _____________________________
Investment Income __________________________________
Dividends________________________________________
Side Business Income_______________________________
Inheritance________________________________________
Rental Property____________________________________
Business Expenses_____________________________________
Taxes
Do it yourself or get a tax advisor
Ways to maximize deductions
_______________________________________________
_______________________________________________
Create Balance Sheet
Savings
Liquid Assets_______________________________________
401K/SEP Contribution______________________________
Obtain a financial advisor(s) __Yes __No
Save ___________
Debt Management
Pay off credit cards____________________________________
Pay off house by_ _____________________________________
Pay off car by _________________________________________
Goal Net Worth _______________________________________
Budget
Monthly Budget/Expenses
House Payment ___________________________________
Car ______________________________________________
Payment _________________________________________
Gas _____________________________________________
Utilities __________________________________________
Food _____________________________________________
Phone ____________________________________________
Electric, Gas, Water, Refuse _________________________
Dry Cleaning ______________________________________
Clothes ___________________________________________
Hair ______________________________________________
Entertainment _____________________________________
Recurrent Expenses
Vacation __________________________________________
Home Maintenance/Improvement ___________________
Car ______________________________________________
Charity _______________________________________________
Business Expenses ______________________________________
Business Equipment ________________________________
Business Supplies __________________________________
Travel ____________________________________________
Stationary _________________________________________
Educational Funds
Personal __________________________________________
Children __________________________________________
Austerity Measures/Cost Reduction _____________________________________________________________________
Retirement
Monetary Needs Analysis (including inflation) ___________________
Retirement Budget _______________________________________
Income Streams
Social Security_____________________________________
Retirement_________________________________________
401 K____________________________________________
Investments________________________________________
Reverse Mortgage___________________________________
House Sale_______________________________________
Rental Property_____________________________________
Part Time Work_____________________________________
Date for Retirement or Semi-Retirement_______________________
Risk Management
Medical Insurance________________________________________
Car Insurance___________________________________________
Short Term Disability____________________________________
Long Term Disability_____________________________________
Home Owners Insurance___________________________________
Life Insurance___________________________________________
Business Insurance_______________________________________
Will/Trust_____________________________________________
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