FI580 Personal Financial Planning Course Project Personal Financial Planning Goals Balance Sheet Income Statement Annual Cash Budget Ratio Analysis 6. Retirement Plan Analysis

FI580 Personal Financial Planning Course Project The 5 excel sheets are attached, the work MUST be on them with all their categories. Objective: The Personal Financial Plan Project will allow you to tie together many of the Terminal Course Objectives (TCOs) into a single worksheet that will be the basic foundation of your own personal financial plan. I would recommend that once you have completed the plan, you review it at least annually to make sure that appropriate revisions are made as your life and planning needs change. Guidelines: The plan should be divided into six separate areas as outlined under the Personal Financial Plan section in Doc Sharing. The six areas are as follows: 1. Personal Financial Planning Goals 2. Balance Sheet 3. Income Statement 4. Annual Cash Budget 5. Ratio Analysis 6. Retirement Plan Analysis Each of these sections should be constructed using the attached Excel spreadsheets Grading Rubrics Category Points % Description Personal Financial Goals 35 15.9 Goals must be prioritized, with cost estimates and target dates for each goal. If a goal does not have a cost, then you must explain why. A cost savings should be shown as a negative amount. At least three goals must be included for each category, but five goals are recommended. Goals must be achievable so that you can make progress against them. Cost estimates are assumed to be financed with cash, unless otherwise noted. Deductions will be made for goals that are not realistically achievable based on presented financial data. Balance Sheet 35 15.9 Good format; date, title (is it just for you or the family), appears to include all components. Balance sheet must balance. Balance sheet date should be current (within timeframe of course). Income Sheet 35 15.9 Prepare income statement for full year in good format. Annual Cash Budget 35 15.9 Monthly projected cash budget for the next year in good format. Ratio Analysis 40 18.2 Properly calculated; relevant analysis, including minimum half page written commentary on how you will improve ratios. Ratios must be linked directly to your financial statements, so it requires the use of Excel. (Ratios should be linked so they automatically update when changes are made to the financial statements.) Comparison must be provided of your ratios versus benchmark ratios discussed in this course. Ratios to be calculated include: liquidity, solvency, savings ratio, debt service, and debt safety ratios. Retirement Plan Analysis 40 18.2 Complete retirement plan analysis (see template provided); assess your ability to meet your retirement goals based on your assumptions and analysis (minimum 1/2 page written analysis). Total 220 100 A quality financial plan will meet or exceed all of the above requirements. The project must be submitted in one Excel workbook with each sheet appropriately labeled; it is your responsibility to make sure the templates are properly built. Points will be deducted for manually calculated numbers and incomplete information.

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