7 pages/≈1925 words
Accounting, Finance, SPSS
Financial wealth management (Essay Sample)
"Physician Heal Thyself" You need to develop a wealth management plan for a very particular person - you. Draw up your own plan, based on your current situation, as well as your future plans. In regards to the written portion, it should be 7-10 pages of goals, recommendations on how to achieve your goals, and timelines on when certain goals should be met and why. In this article, I am a normal Chinese student study in the United States，plan to return to home country after finishing studies. There is no other file link to this instruction but if u need more information about the class, I can upload all file the class gives me. u can contact me source..
Financial PlanNameInstitutional AffiliationDate Summary This is a financial plan for my wealth allocation. This financial plan has been made with a number of factors in mind about retirement in my country. After completing my studies, I intend to go back to China, look for a job and stay in a small city in China. I do plan to retire by the age of 55. I also intend to get married and lead a happy life at 45. Most of my asset allocation will be centered around real estate and business ventures. I also intend to work after completing my education. The financial plan was made in consideration with my country of origin. CURRENT SITUATION * I have assets of $6500 * I have liabilities of $1200 * My net worth is $5300 GOALS * Retire at the age of 55 with my spouse * Total Networking Asset by the age of 55- $100,000 * Travel twice in a year across the world * Live a decent life * I will need a continuous flow of income up to my life expectancy time that's 76 years * Preserve my estate for the heirs * Provide my children with quality education * Pay less tax * Always stay ahead of inflation * Bur recreational property * Own a home * Earn higher returns on my investments * Learn more about money * Start and grow business ASSETS Savings and Investments Bank Savings $1000 Mutual Funds $2500 Retirement Account Retirement Savings $2000 Other Assets Personal Property$1,000 TOTAL ASSETS $6500 LIABILITIES Credit Card Debt$200 Education Loan$1000 TOTAL LIABILITIES $1200 TOTAL NETWORTH $5300 EXPENSES * Travel $400 * Food$500 * Accommodation$300 * Internet$20 * Clothing$100 * Insurance$500 * Entertainment$10 * Emergencies$200 * Retirement159$ Total Expenses $2189 ASSET ALLOCATION I do intend to begin investing in real estate at the age of 35 in preparation for retirement. I do plan to earn a basic salary of $2000 per month Out of the $2000 that I will be earning in a month, I do intend to take up about ¼ of the amount and look up for real estate investment opportunities in my city. Most of the real estate deals I will prefer are those with a higher CAP rate. In a year, I will have invested $6000 with a return rate of 50% in one year. I will make a long term investment and I except to receive the returns from the investment in approximately 10 years. The returns received at the end of each of the years will be spent in buying the other real estate deals. At the end of 10 years, I expect the real estate investment deals to be having a net worth of about $30,000. At the age of 45, my investments will be about $50,000. This amount will again be spent on buying a new house. I prefer to live in a house in one of the cities in China. The amount spent on buying the house will be $100,000. It is also during this time that I will get a spouse. We will be investing together during this time. I will also keep working on my job up for about 10 years. The investment will also continue this time and at the end of the 10 years, I will focus on starting my own business about financial management. The company will be offering financial advice and helping businesses to grow their revenues each year. To begin this company, we will use savings together with my spouse and return from the investments made in real estate. Children Planning We intend to have only 2 children and invest in their education. We will spend $100,00 in educating each of the kids. Most of the funds for educating the kids will come from our business ventures. We will also prefer he children to join the community colleges instead of joining universities as a way of reducing the debt they will incur in their education. Retirement Plan We will retire at the...
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