Principles of Personal Financial Planning.

Principles of Personal Financial Planning
Assignment
This assignment is devised to help you obtain the learning outcomes as stated in the module handbook. It is in 3 parts: Team Performance; Team Contribution and Individual Performance.
In groups of between five and seven which will be allocated to you, you are required to read the information given to you about Olivia and John Smith and from all the information given:
Team Performance
Written element – 2700 words
Produce a report to summarize the current position of Olivia and John. Include suggestions to increase current net income, summarize the couple’s goals and discuss potential future liabilities. You report should include but not necessarily be limited to:
1. Summarize the objectives and priorities of Olivia and John Smith
2. Produce and summarize a net worth statement for the couple
3. Calculate income for both and jointly including tax computations based on their current position to identify after tax net income
4. Calculate income after expenditure for each and jointly.
5. Calculate funding projections required to fulfill the couples objectives and for risk protection.
6. Comment on any ethical issues that you may need to consider.
7. A summary of assumptions (rates and returns used to prepare recommendations) and justification for using these.
Presentation element – Produce and be prepared to discuss a poster for display.
This should give your recommended course of action for the couple and explain why and how this course of action meets their objectives and minimizes their tax obligations. It should cover retirement planning, risk protection, estate planning and at least one other of your clients’ objectives. This poster needs to comply with the information in your written report.

This is the task that was assigned to our group and I have been given POINT 3 to work on. I require 500 words