Final Paper - Financial Plan

Final Paper - Financial Plan Research Paper example
Research Paper
Finance & Accounting
Pages 7 (1757 words)
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Final Paper - Financial PlanFinancial Planning An essential part of knowing what an investor would like to accomplish is identifying his/her present position. For this it is required to analyse the vital information and details of an investor, upon which the strategies for the financial planning for the investor would be based (Crumbley & Smith, 2002).


Summary of Client Personal Details Name of Client: James Patterson, Gender: Male, DOB: 01/01/1961, Age 51, Status: Single. Occupation: Marketing Manager at ABC Pvt. Ltd. Objectives and Goals James Patterson wishes to retire by the age of 56. Nevertheless, if retirement at the age of 56 looked difficult he would consider cutting back to 4 days one year, then 3, and so on. The age pension would start from the time Mr. Patterson attains the age of 65. So it is imperative that Mr. Patterson makes proper arrangement for the financial needs arising during the big gap from the age of 56 to 65. Thus, his prime objective is to accumulate sufficient Retirement Income to fulfil all his responsibilities during that period in addition to fulfilling his personal interests. The interests of James Patterson after retirement comprise of travelling extensively, and attending summer school courses on aspects of ancient history particularly about Greece and Rome among others. He also wants to remain associated with Community Aid and one of his prime responsibilities is to look after his aged mother, and his nephew and nieces. The target retirement income that Mr. Patterson is looking forward to is equivalent to 60% of his pre-retirement income. ...
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