PERSONAL FINANCIAL STRATEGY

YOUR PERSONAL FINANCIAL STRATEGY
Name

First NameLast Name
Date of Birth

MonthDayYear
Date
Marital Status
Children?
What Do You Do For a Living?
Who is your Personal Financial Professional?
Who sent you this form?

1. CASH FLOW MANAGEMENT

Manage Expenses | Earn Additional Income
SOURCES OF INCOME:
Source of Income #1
Amount (after taxes are deducted)
$
Frequency
TOTAL MONTHLY Source of Income #1
$

Add Additional Source of Income
Source of Income #2
Amount (after taxes are deducted)
$
Frequency
TOTAL MONTHLY Source of Income #2
$

Add Additional Source of Income
Source of Income #3
Amount (after taxes are deducted)
$
Frequency
TOTAL MONTHLY Source of Income #3
$

MONTHLY EXPENSES:
MONTHLY EXPENSES:

Auto & Transportation
Fuel
$
Insurance
$
Loan/Lease Payment
$
Other (Auto/Transportation)
$
TOTAL: Auto & Transportation
$

Food
Groceries
$
Eating Out
$
TOTAL: Food
$

Health / Medical
Insurance Premiums
$
Prescriptions
$
Other (Health/Medical)
$
TOTAL: Health/Medical
$

Household
Child Care
$
Educational
$
Personal Care
$
Pet Care
$
Sports & Lessons
$
Other (Household)
$
TOTAL: Household
$

Mortgage or Rent
TOTAL: Mortgage or Rent
$

Debt Service
Credit Card Payments
$
Personal Loans
$
TOTAL: Debt Service
$

Utilities
Cable/Internet
$
Electric
$
Gas
$
Phone
$
Trash
$
Water
$
Other (Utilities)
$
TOTAL: Utilities
$

Other Expenses
Alimony & Child Support
$
Subscriptions & Memberships
$
Tithe / Charity
$
Other (Misc. Expenses)
$
TOTAL: Other Expenses
$

DISCRETIONARY MONTHLY INCOME
DISCRETIONARY MONTHLY INCOME:
Total Monthly Household Income
$
- Total Monthly Expenses
$
- Insurance Premiums
$
- Savings
$
= Net Monthly Discretionary Income
$

2. DEBT MANAGEMENT

Consolidate Debt | Strive to Eliminate Debt

Add Debt
#1. Type of Debt
Description
Current Balance
$
Actual Monthly Payment (the amount you actually pay, not the minimum)
$

Add Debt
#2. Type of Debt
Description
Current Balance
$
Actual Monthly Payment (the amount you actually pay, not the minimum)
$

Add Debt
#3. Type of Debt
Description
Current Balance
$
Actual Monthly Payment (the amount you actually pay, not the minimum)
$

Add Debt
#4. Type of Debt
Description
Current Balance
$
Actual Monthly Payment (the amount you actually pay, not the minimum)
$

Add Debt
#5. Type of Debt
Description
Current Balance
$
Actual Monthly Payment (the amount you actually pay, not the minimum)
$

Add Debt
#6. Type of Debt
Description
Current Balance
$
Actual Monthly Payment (the amount you actually pay, not the minimum)
$

3. PROPER PROTECTION

Protect Against Loss of Income | Protect Family Assets
Use the D.I.M.E. METHOD to determine your Insurable Need. This will ensure that your debt and mortgage(s) are paid off when you pass away, and will provide income to your heirs for at least 10 years. This will also ensure there is money set aside for children's educational or head-start future expenses.
Total D(ebt)
$
Annual I(ncome) x 10 Years
$
M(ortgage) Left on your Home(s)
$
E(ducational) Costs for Children
$
TOTAL Insurable Need
$
EXISTING LIFE INSURANCE

	Insured	Type	Provider	Face Amount	Premium	Premium Mode	Policy Year
Existing Life Insurance #1
Existing Life Insurance #2
Existing Life Insurance #3

Total Insurable Need
$
Total Existing Life Insurance
$
Remaining Amount of Life Insurance Needed
$

4. EMERGENCY FUND

Save at Least 3-6 Months' Income | Prepare for Unexpected Expenses
+ Total Monthly Expenses
$
x 3 Months
$
Total Emergency Fund Needed (to last 3 months)
$
Amount Currently Saved in a Dedicated Emergency Fund
$
Remainder to Save in Case of an Emergency
$

5. BUILD WEALTH

Strive to Outpace Inflation and Reduce Taxes
At what age would you like to be in a position to retire?
In today's dollars, how much income do you need to support your desired lifestyle in retirement? Monthly Amount $Monthly Income or 80% of current combined household total (*On average, you'll need at least 75-80% of your annual income (once at peak earning potential) in order to sustain your current lifestyle in retirement)
TAXABLE

Assets in which income and/or dividends are taxed in the year in which they are received, even if it is reinvested. Any gains are taxed when the asset is sold. May be positioned for short-, medium-, to long-term needs.

Add Mutual Funds

MUTUAL FUNDS:

	Investment/Asset Name	Balance ($)	Monthly Contribution ($)	Rate of Return (%)
Mutual Fund #1
Mutual Fund #2
Mutual Fund #3

Add Stocks

STOCKS:

	Investment/Asset Name	Balance ($)	Monthly Contribution ($)	Rate of Return (%)
Stock #1
Stock #2
Stock #3

Add Bank Savings/CDs

BANK SAVINGS/CDs:

	Investment/Asset Name	Balance ($)	Monthly Contribution ($)	Rate of Return (%)
Bank Savings/CDs #1
Bank Savings/CDs #2
Bank Savings/CDs #3

Add Bonds/Treasuries

BONDS/TREASURIES:

	Investment/Asset Name	Balance ($)	Monthly Contribution ($)	Rate of Return (%)
Bonds/Treasuries #1
Bonds/Treasuries #2

TAX DEFERRED
TAX DEFERRED

Assets in which income or gains are not taxed until withdrawn. May be positioned for long-term needs, such as retirement.

Add 401(K)/403(B) or Other Qualified Plans

401(K)/403(B) OR OTHER QUALIFIED PLANS:

	Investment/Asset Name	Balance ($)	Monthly Contribution ($)	Employer Match	Rate of Return (%)
Qualified Plan #1
Qualified Plan #2
Qualified Plan #3

Add IRA/SEP-IRA

IRA/SEP-IRA:

	Investment/Asset Name	Balance ($)	Monthly Contribution ($)	Employer Match	Rate of Return (%)
IRA #1
IRA #2
IRA #3

Add Annuities (Fixed/Variable)

ANNUITIES (FIXED/VARIABLE):

	Investment/Asset Name	Balance ($)	Monthly Contribution ($)	Employer Match	Rate of Return (%)
Annuity #1
Annuity #2
Annuity #3

Add Savings Bonds

SAVINGS BONDS:

	Investment/Asset Name	Balance ($)	Monthly Contribution ($)	Employer Match	Rate of Return (%)
Savings Bonds #1
Savings Bonds #2

TAX ADVANTAGED
TAX ADVANTAGED

Assets in which withdrawals are tax-free, with certain limitations.

Add ROTH IRAs

ROTH IRA:

	Investment/Asset Name	Balance ($)	Monthly Contribution ($)	Rate of Return (%)
ROTH IRA #1
ROTH IRA #2
ROTH IRA #3

Add Cash Value in Life Insurance

CASH VALUE LIFE INSURANCE:

	Investment/Asset Name	Balance ($)	Monthly Contribution ($)	Rate of Return (%)
Cash Value Life Insurance #1
Cash Value Life Insurance #2
Cash Value Life Insurance #3

*Please note: Only qualified withdrawals from Roth RAs are Las free. Withdrawab from cash value life insurance are tax-free up to the policy basis Polky loans are tax free while the polity remains in force: the policy lapses or is surrendered the loan may be taxable.

6. PRESERVE WEALTH

Reduce Taxation | Build a Family Legacy
Do you have a Will?
If Yes, Last Update
Do you have a Trust?
If yes, What Kind
Purpose of Trust
Do you expect to receive any lump sums or inheritance in the near future?

	SHORT-TERM 1-3 Years	MID-RANGE 3-7 Years	LONG-TERM 7+ Years
Make a Major Purchase
Build Retirement Wealth
Buy a New Home
Build Savings for Unexpected Expenses
Reduce or Pay Off Mortgage
Education Funding
Alternative Income in case of Disability or Death
Help Support Aging Parents
Pay Off Credit Cards/Debts
Start a Business
Other
Other
Other

YOUR PERSONAL FINANCIAL STRATEGY

1. CASH FLOW MANAGEMENT

SOURCES OF INCOME:

MONTHLY EXPENSES:

DISCRETIONARY MONTHLY INCOME:

2. DEBT MANAGEMENT

3. PROPER PROTECTION

EXISTING LIFE INSURANCE

4. EMERGENCY FUND

5. BUILD WEALTH

TAXABLE

TAX DEFERRED

TAX ADVANTAGED

6. PRESERVE WEALTH

FINANCIAL GOALS: