Personal Financial Plan - WordPress
Personal Financial PlanPrepared for:Mr. Rohit MehtaPrepared by:Ronak Morjaria
www.valuecurve.co.in10th December’ 2018Dear Mr. Rohit,We would like to thank you for choosing our financial planning services.The enclosed plan formalizes our recent discussions on the investment of your availablecapital, allocation of surplus cash flows and reallocation of some of your existingportfolio.Our objective is to accurately assess your financial needs and to provide qualityrecommendations and ongoing services in accordance with those needs.The plan is based on the information provided by you on your current circumstances andobjectives. Please read the plan carefully to check for accuracy of the informationprovided.This plan is an important document, in accordance with the best standards of theprofession. However, it needs to be regularly reviewed and updated in response tochanges in your own circumstances and other factors, such as pension regulation, taxationand market movements.All the financial data and/or information provided by you in data collection form or replyto any email thereafter and all the recommendations and advice furnished by us will bestrictly kept confidential as per FPSB’s code of ethics. We will not share or pass the dataand/or other information given by you to any other person, firm or company without yourconsent. The reason we value confidentiality is that financial and life planning is a deeplypersonal encounter. In order to facilitate open and honest communication, you need toknow that your choices, your decision-making process, and your future plans are keptconfidential.Please feel free to contact us if you have any queries.We look forward to reviewing and implementing these recommendations with you.Yours sincerely,Dipak MorjariaRonak MorjariaHarshil MorjariaEmail: ronakmorjaria@gmail.comPage 1 of 20Ph.: 91 97692 54535, 91 22 4971 0559
www.valuecurve.co.inExecutive SummaryThe main body of this report has your personal details and your life objectives andstrategies to meet your objectives.NameMr. RohitMrs. SnehaMr. HealthyHealthyHealthyGoals and Objectives:Retirement Planning: You would like to provide a corpus for yourretirement at the age of 60 years. You would like to maintain the samestandard of living, which you are living at present.Child's Education Planning: You would like to provide for the highereducation expenses for your son when he reaches the age of 21 years.Child's Marriage Planning: You would like to provide for marriageof your son when he reaches the age of 26 years.Email: ronakmorjaria@gmail.comPage 2 of 20Ph.: 91 97692 54535, 91 22 4971 0559
www.valuecurve.co.inIncome-Expense StatementAs per the information provided by you, the following are the cash inflow and outflowfor the current year:CurrentTotal Total MonthlyAnnual66,6678,00,000ParticularsNet Take Home SalaryTotal InflowsRecommendedTotal Total 0,000Household Expenses28,5003,42,00028,5003,42,000Loan EMI'sHome 3331,00050,30010,30028,00012,000Total 331,49,2007759,300Insurance PremiumLife InsuranceHealth InsuranceOther InsuranceActual InvestmentsSurplusCurrent CashflowHousehold ExpensesRecommended Cashflow11%HouseholdExpensesLoan EMI's33%15%21%53%Insurance Premium6%Actual InvestmentsEmail: ronakmorjaria@gmail.comPage 3 of 20Ph.: 91 97692 54535, 91 22 4971 055917%Loan EMI's44%InsurancePremiumActual Investments
www.valuecurve.co.inNet Worth StatementAssetsParticularsPersonal AssetsResidential PropertyVehicleInvestment AssetsMr. Rohit53,00,00050,00,0003,00,0008,65,000Cash & EquivalentsCash in handSavings Bank40,0005,00035,000Debt & EquivalentsFixed DepositsPPFEPFDebt Mutual Funds4,75,0001,25,0002,50,0001,00,0000Equity & EquivalentsDirect EquityEquity/Balanced Mutual FundsInsurance - Surrender Value3,50,0001,00,0001,50,0001,00,000Total ce9.50%11,2007,50,00011,2007,50,000LiabilitiesHome LoanTotalNet WorthTotal Assets(Investmetn Assets)Total LiabiltiiesYour Net Worth8,65,0007,50,0001,15,000Email: ronakmorjaria@gmail.comPage 4 of 20Ph.: 91 97692 54535, 91 22 4971 0559
www.valuecurve.co.inAsset AllocationInvestment 3%5%15%80%Cash & EquivalentsDebt & EquivalentsEquity & EquivalentsRecommended Asset AllocationCurrent Asset Allocation5%33%Ca sh & Equivalents5%15%Debt & Equivalents62%Ca sh & EquivalentsDebt & Equivalents80%Equity & EquivalentsEquity & Equivalents Equity and debt, both, have an important role to play in your asset allocation.Equity can provide superior inflation adjusted returns over the long term anddebt to protect your capital while growing. Self-occupied residential property and Personal Jewelry are not treated as yourinvestment assets. Gold Investment works as a hedge against inflation and provides safety in badeconomic and political conditions. Real estate investment provides you a fixed income, potential for capitalappreciation and also helps in diversification of your portfolio. However, it ishighly capital intensive and most illiquid asset class. Please review and rebalance your investment portfolio periodically.Email: ronakmorjaria@gmail.comPage 5 of 20Ph.: 91 97692 54535, 91 22 4971 0559
www.valuecurve.co.inContingency FundCurrent Monthly ExpensesContingency Period (Months)Contingency Funding (Required)38,50041,54,000Contingency Funding1,65,0001,54,00011,000Contingency FundingRequiredAvailabe ResourcesInvestment Assets UtilizedCash in handSavings BankFixed ,65,000 You should keep aside at least 4 months expenses to be used only inemergencies such as job loss. Transfer the loan to another lender at prevailing interest rate i.e. 10.50%Invest in HDFC Liquid Fund No pre-payment charges are payable on Floating rate loans.Maintain discipline. Do not use except incase of emergenciesEmail: ronakmorjaria@gmail.comPage 6 of 20Ph.: 91 97692 54535, 91 22 4971 0559
www.valuecurve.co.inLife InsuranceAdequate Life insurance is a must to make sure your family’s life style isnot affected if you die early.Insurance Need Analysis:Looking at your present age, income, life style and life goals and also taking intoconsideration your assets and liabilities, your life insurance need is calculated as under:Insurance Need Alalysis1,07,23,22499,58,2247,65,000Total Life Insurance RequiredTotal AssetsInsurance Cover RequiredAnalysis of current Policies and Recommendations: Taking into account various factors like present surrender value, maturity value andpremiums to be paid till maturity we advise you to surrender IDBI Federal ULIPpolicies as this plans carries various charges which leads to lower returns. Also, thispolicy does not provide sufficient insurance coverage. Your wife is a homemaker and does not require life insurance. Buy HDFC Life Click2Protect 3D Plus an online term plan for Rs.1 Crore for a termof 30 years which will cost you around Rs.10,300 p.a. Disclose all facts while buying insurance.Email: ronakmorjaria@gmail.comPage 7 of 20Ph.: 91 97692 54535, 91 22 4971 0559
www.valuecurve.co.inHealth InsuranceThis section covers analysis of your current General Insurance policies, Need Analysis ofthe Client and our recommendations.Health Insurance (Mediclaim):A serious illness could be catastrophic to your financial well being therefore,it is imperative you have adequate medical insurance coverage.CurrentRecommendedUnited IndiaMediclaimBajaj Allianz Health Guard Bajaj Allianz Extra Care PlusSum AssuredRs.3 LakhsRs.3 LakhsRs.20 aterFloaterTypeSelf Spouse ChildSelf Spouse ChildSelf Spouse ChildMembersPortBuyBuyRecommendation Your family floater health insurance is bought from United India. has room rent sub-limitof 1% of sum assured. Disability Insurance pays a lump sum in the event of suffering from a debilitating diseasesuch as cancer, stroke, organ failure or disability arising from an accident. You should take an accident insurance policy covering disability for Rs.25 lakhs and acritical illness policy for Rs.25 lakhs for yourself. Both these policies put together willcost you around Rs.12,000 per year. Disclose all facts while buying insurance.Email: ronakmorjaria@gmail.comPage 8 of 20Ph.: 91 97692 54535, 91 22 4971 0559
www.valuecurve.co.inInvestment PlanningAnalysis of Current Investment:Direct Equity Investment: Direct investment in equity is not advised, as itrequires depth research and analysis. Invest money in good mutual fund schemes. Sell your equity investments and reinvest inMutual Fund schemes as recommended.Mutual Fund Investment:Sr.Name of SchemeCurrentNo.Value1. Birla Mid Cap Fund (D)70,0002. DSP BR Small & Mid Cap Fund (G) 50,0003. ICICI Pru Infra Fund30,000RecommendationRedeem & Switch toICICI Pru BlueChipFundAllocatedGoalVarun’sEducation Instead of investing in sectoral or thematic funds, invest in well-diversified funds, whichinvest in stocks of many sectors, which give good diversification across sectors. Hence,we recommend switching as above. We suggest you to keep all your Mutual Fund units under Growth option and inrecommended Mutual Fund Portfolio. All your existing investments have been allocated towards your all major goals. Equityschemes of mutual fund invest around 90-100% in shares of listed companies and thebalance 0-10% in highly rated debt instruments. Balanced mutual fund schemes invest around 70-80% in shares of listed companies andthe balance 20-30% in highly rated debt instruments. They provide an ideal mix of safety(debt instruments) and growth (equity). We suggest you to have a periodical review process to monitor your portfolio andrebalance your portfolio as per your asset allocation.Email: ronakmorjaria@gmail.comPage 9 of 20Ph.: 91 97692 54535, 91 22 4971 0559
www.valuecurve.co.inRetirement PlanningYou would like to provide a corpus for your retirement at the age of 60 years. You wouldlike to maintain the same standard of living, which you are living at present.Retirement Alalysis7,23,50,00033,20,0003,30,000Current Annual ExpensesAnnual Expenses at Retirement Corpus Required for RetirementAgeInvestment Assets TotalAssumedRate ,44,86,000 We allocated your present EPF & PPF towards this goal. Start monthly investment of Rs.16,600 in ratio 90% in Equity and 10% in Debt. Start fresh SIP of Rs.7,500 each in Aditya Birla SL Frontline Equity Fund andReliance SmallCap Fund, and deposit Rs.1,600 every month in PPF account.Email: ronakmorjaria@gmail.comPage 10 of 20Ph.: 91 97692 54535, 91 22 4971 0559
www.valuecurve.co.inEducation PlanningYou would like to plan for your son’s education and would like to provide Rs.7.50 lakhsin present value of this goal.Education Planning34,96,0007,50,000Current ValueFuture ValueParticularsCurrent AgeGoal AgeYears For GoalExpected Rate of ReturnInflationCurrent ValueFuture ValueAssets UtilizedRequired Monthly FundingInvestment Assets UtilizedDirect EquityEquity Mutual e 00017,16,000 Sell your existing equity shares and transfer to Mirae Asset LargeCap Fund Sell your existing equity mutual funds, and shift to ICICI Pru BlueChip Fund Additionally start SIP of Rs.1,800 in Mirae Asset LargeCap FundEmail: ronakmorjaria@gmail.comPage 11 of 20Ph.: 91 97692 54535, 91 22 4971 0559
www.valuecurve.co.inMarriage PlanningYou would like to plan for your son's marriage at the age of 26 years and provide a sumof Rs.7.50 lakhs in present value for this goal.Marriage Planning68,48,00010,00,000Current ValueParticularsCurrent AgeMarriage AgeYears For GoalExpected Rate of ReturnInflationCurrent ValueFuture ValueRequired Monthly FundingFuture ValueVarun1262512.00%8%10,00,00068,48,0003,600 Start monthly investment of Rs.3,600 in ratio 90% in Equity and 10% in Debt Start fresh SIP of Rs.3,000 in ratio in Kotak Standard MultiCap Fund andRs.600/month in Varun’s PPF account respectively.Email: ronakmorjaria@gmail.comPage 12 of 20Ph.: 91 97692 54535, 91 22 4971 0559
www.valuecurve.co.inEstate Planning We strongly recommend making a Will.Email: ronakmorjaria@gmail.comPage 13 of 20Ph.: 91 97692 54535, 91 22 4971 0559
www.valuecurve.co.inAsset Re-allocationExistingAssetsInvestment AssetsCash on handSavings BankFixed DepositsPPFEPFInsurance - Surrender Value*Direct EquityEquity Mutual FundsTotal ,50,0001,65,000*Asset not utilized under any goalPlan Assumptions:Plan AssumptionsRetirement AgeLife ExpectancyInflation RatePortfolio Returns – Liquid FundsPortfolio Returns – Debt / PPF / EPFPortfolio Returns – Equity 12.00%All returns are assumed as net of Indian Income tax.None of the returns are guaranteed.Email: ronakmorjaria@gmail.comPage 14 of 20Ph.: 91 97692 54535, 91 22 4971 0559SpouseN.A.802,50,000
www.valuecurve.co.inSummary of RecommendationsContingency Planning:HDFC Liquid FundRs.1.65 LakhsStart ASAPLife Insurance:HDFC Life Click2Protect 3DRs.1 CroreBuy ASAPHealth Insurance:FamilyBuy Bajaj Allianz Health Guard IndividualRs.3 LakhsFamilyBuy Bajaj Allianz Extra Care PlusRs.20 LakhsSelfBuy Bajaj Allianz Premium Personal GuardRs.25 LakhsSelfBuy HDFC Life Critical Illness Rider (withClick2Protect 3D Plus)Rs.25 LakhsOther Goals:Sr.GoalNo.1.Retirement2.3.Varun’s EducationVarun’s MarriageInvestmentAmt.SIP Rs.7,500/SIP Rs.7,500/Rs.1,600 p.m.SIP Rs.1,800/SIP Rs.3,000/Rs.600 p.m.Remark/SuggestionAditya Birla SL Frontline Equity FundReliance SmallCap FundPPFMirae Asset LargeCap FundKotak Standard MultiCap FundVarun’s PPFEmail: ronakmorjaria@gmail.comPage 15 of 20Ph.: 91 97692 54535, 91 22 4971 0559
www.valuecurve.co.inSome good practices of financial planning1. Make sure that the recommendations provided to you by your financial plannerare executed properly and without any delays. Also you should keep the plannerposted with any developments like change in income, any major health issueswithin family that may affect your financial planning.2. Sit down once every year to review and revisit all your goals. Also reprioritizethem in case needed.3. Put automatic payments (ECS) on all insurance premium and SIP. Provide yourmobile number to the insurance companies and mutual fund houses. They sendreminders to maintain the required balance in your account a few days before theECS is due.4. Start moving your assets from risky assets like equities or alternative investmentsto debt instruments systematically when your goal is around 2-3 years away – thiswill ensure that in case the equity markets falls just before your goals are arriving,your corpus would be protected to a very great extent.5. Keep all your insurance and investment documents at one place and inform yourspouse, parents and kids about the same – in case of any emergency, they cantrace them easily. Many a times, when a person gets admitted, then the familymembers have no clue about the mediclaim card that needs to be shown to thehospital.6. Don't delay, investments or payment of your credit card bills/loan EMIs – both ofthem can affect your financial future badly? If you delay in starting yourinvestments on time, then you will lose the opportunity to create enough corpusesfor your future goals. In case you delay in making payments for your credit cardbills and loan EMIs then you will land up lowering your CIBIL score and riskyour chances of getting a loan in future.7. Get your CIBIL report and go through it to check if there is any of the informationmentioned there are not true. In case any of the information mentioned there arenot correct, you should report the same to CIBIL and get the same rectified at theearliest to avoid any complications in future.8. Provide your mobile number to all the bank accounts and credit cards – anytransactions that is done on your debit card or your credit card is reported to yourmobile number.9. You should make sure that you have put nominations for all your investments.You should also prepare a will to plan for your estate since nominations are notsufficient to make sure that there is no dispute about the assets in the event of thedeath of the owner.Email: ronakmorjaria@gmail.comPage 16 of 20Ph.: 91 97692 54535, 91 22 4971 0559
www.valuecurve.co.inDisclaimerAny financial plan made by us is based on information detailed by the informationprovided by the client in the data gathering sheet and the personal discussions with theclient. A copy of the data gathering sheet is available on request. The informationcontained in the financial plan must be read carefully. In case any relevant information isoverlooked or misinterpreted, then we request the client to contact us before proceedingwith the implementation of the plan. The financial plan is completely based on theinformation supplied to us by the client, which we assume to be correct. No responsibilitycan be accepted if the information provided to us is incorrect or inaccurate. This plan isprepared solely for the use of the client to whom it is addressed.This financial plan is a forward-looking document where we have assumed certainreturn on investments on various investment classes and inflation. These forward-lookingstatements involve, and are subject to known and unknown risks, uncertainties and otherfactors, which could cause actual results, performance or achievements to differ from thefuture results, performance or achievements expressed or implied by such forwardlooking statements.All these forward-looking statements attributable to Ronak Morjaria herein areexpressly qualified in their entirety by the above-mentioned cautionary statement. RonakMorjaria does not accept any direct or indirect liability for any results, performance orachievements that differ from results, performance or achievements implied by suchforward-looking statements.We do not promise that the investments you make based on this plan will beprofitable. Investments are always subject to various market, currency, and economic,political and business risks. We will not be liable for any losses that may be causeddirectly or indirectly by such investment decisions.This financial plan is based on the current situation and goals, which will changewith the passage of time. Any material change in the financial situation of the client willnecessarily render the contents of the plan out of date. Material changes refer to change inincome/salary levels, assets acquired, liabilities incurred, change in number ofdependents, health condition, or the passage of time of more than 12 months or the effectof inflation or deflation.We strongly recommend thata) You review this plan periodically to ensure that your plan’s actual performance isconsistent in meeting your goals, andb) You update your plan annually to ensure that your plan is updated for your changingsituation and goals.Email: ronakmorjaria@gmail.comPage 17 of 20Ph.: 91 97692 54535, 91 22 4971 0559
www.valuecurve.co.inThank YouEmail: ronakmorjaria@gmail.comPage 18 of 20Ph.: 91 97692 54535, 91 22 4971 0559
Net Worth Statement Type Interest Rate EMI Outstanding Balance Home Loan 9.50% 11,200 7,50,000 Total 11,200 7,50,000 Total Assets(Investmetn Assets) 8,65,000 Total Liabiltiies 7,50,000 Your Net Worth 1,15,000 Net Worth Particulars Mr. Rohit Personal Assets 53,00,000 Residential Prope
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When it comes to personal financial goals, many can be long term. Paying off student loans, a new car, or a mortgage on a home does not happen in a month or even a year. Retirement is an even longer-term goal. When it comes to financial matters, planning can be of paramount importance. Creating a personal financial plan has six basic steps: 1.
A personal financial statement presents the personal assets and liabilities of an individual, a couple or a family. It is not a financial statement on a business owned by the person; however, it does contain important information about such business interests. The essential purpose of a personal financial statement is to measure wealth
