Name: ______Date: ______

BM 418 Personal Financial PlanRoadmap

Table of Contents

Email address: ______Section: ______

I. Introduction(Contents and Appearance): 3%

Organized with a new 3 ring clear-cover binder,typed tabs,picture, and presented in the required format?

Includes paragraph which explains whowrote this Plan,who helped (spouse, parent, or friend), and results?

II. Goals: 40%

What does Heavenly Father want you to be or do?

Detailed? Specific? Complete?

What are your top three major goals?

Detailed? Specific? Complete?

Your epitaph?Numbered pages?

AP: Short-term goals (l-year or less)

Medium-term goals (2-10 years)

Long-term goals (10-80 years)

Are your goals detailed? Specific? Complete?

III. Financial Statements: 3%

Shows two months with comparisons/explanations (a-c)?

a. Balance sheets (Net Worth)?(First/last month)

b. Income statements (Spending)? (First/last month)

c. Financial ratios? (First/last month)

AP: What can you do to improve thesein the future (a-c)?

IV. Budgets/Spending Plans: 10%

Coversheet includes what you did well, what you can

improve on, and action plan for the month?

Support includes forecast, actual, and differences using

spreadsheets (TT4/TT31), Quicken or other programs?

Includes a one-year spending plan (by month)?

AP: What can you do to do better in the future?

V. Tax Planning: 2%

Key Fed and state tax forms and strategies used last year?

Your marginal and average tax rate last year?

AP: What tax forms/strategies will you use in the future?

VI. Cash Management: 2%

Current cash management framework?

Your current rates/costs on savings/checking?

AP: What cash management vehicles should you be using?

VII. Credit Cards: 3%

What type of credit card user are you?

Your credit card name(s), interest rate(s), fee

structure(s), and calculation method(s)?

AP: What will you do to improve your credit card use?

VIII. Credit Reports and Credit Score: 3%

Hasa copy of yourcredit report and credit score?

Has checked and knowsthe credit report is correct?

AP: What is your plan to improve yourcredit score?

Note: AP is your Action Plan--what you want to accomplish. In the interest of safety, please do not include any personal account information in this plan.

IX. Student/Consumer Loans and Debt Reduction: 2%

List all consumer/mortgage/student loans outstanding?

What are your interest rates, costs, points/other fees?

AP: What is your debt reduction strategy and your views and goals on future debt?

X. Insurance Planning: 5%

a. Life, b. Health, c. Disability, d. Auto, and e. Home

Owner’s/Renter’s. For each type of insurance answer:

Do you have it? Do you need it? What are the types,

costs, coverage, and discounts for your coverage?

Include a copy of your CLUE report (if available)?

Include your health insurance summary and TT29?

AP: What insurance and coverage should you have (a-e)?

XI. Money and Relationships: 5%

Has evaluated how your family viewed finances?

How did they handle their finances (answer TT21)?

How did they teach you financial responsibility?

How did they prepare you for missions and education?

AP: How will you handlefinances in your family?

How will you teach your children fiscal responsibility?

How will you save for their education and missions?

XII. Investment Planning: 15%

Includes your Investment Plan(TT05):

i. Objectives, ii. Constraints, iii. Investment Policy, and

iv. Portfolio Monitoring and Evaluation?

Includes your current investments and allocations?

Current investments? Current asset allocation?

AP: Your proposed investments and allocations (4 min.)?

Includes EF, core, and diversification snapshot pages from Morningstar/financial press? Includes TT27

andTT13 Investment Process Spreadsheet?

XIII. Retirement Planning: 3%

Has developed a retirement planning strategy with

strategies for accumulation, retirement, and distribution?

Includes a Retirement Planning spreadsheet (TT06)?

Includes your Social Security statement?

AP: What is your retirement strategy and vehicles?

XIV. Estate Planning: 2%

Has developed an estate planning strategy?

AP: What is yourestate planning strategy?

XV. Wills: 2%

Includes yourwill and spouse’s will (if married)?

Includes Medical Directives (TT14)?

XVI. Other Items:

Uses Quicken/Money/other computer software?

Includes personal experiences to share with future classes?

Includes all 4service teaching assignments (separate)?

Overall Grade: