Create one  personal financial plan for three exemplar couples. Any gender is allowed.

Couple 1: Aged 28 &32 With 2 Children under age of 5.  Their combined net income is $55,000 p/a, total expenditure is $53,000. They should have net investments worth below $30,000, a mortgage worth at least $35000, at 3.5%, and a vehicle loan of $5,ooo at 9.0%

 

Couple 2: Aged 35 &39 with 2 children aged between 5 and 12.  Their combined net income is $65,000 p/a, total expenditure is $56,000. They should have net investments worth below

$6o,ooo, and a mortgage worth at least $3OO,OOO at 3.5%-

 

Couple3: Aged 48 & 52 with 2 children aged between15 & 23.Their combined net income is

$85,000 p/a, total expenditure is $63,000. They should have net investments worth below

$180,000 and a mortgage worth at least $150,000 at 3.5%

Assume that investments pay 6% net p/a. You may ignore the impact of taxes.

 

For each couple

 

1. Create Cash budgets, net worth, and cash flow statements
2. Set financial goals for the next 1 year, 5 year , 10 years and 20 years
3. Create one cash management plan, a budget, a savings strategy, and a debt plan. 
4. Comment on Financial issues, each couple has
5. What is their net worth expected to be at 65?
6. What financial risks does each couple face?

 

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