Personal Finance Planning for Tony and Anne

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Prepared for Tony & Anne Campbell

GROUP PR OJ ECT
F732 : PERSONAL FINANCI AL P LANNI NG AND ADVISING

Course Instructor: Prof. Sumit Bose Submitted on 12-April-2013

RONG DAI (1192240) JI SHI (1192359) LONG CHEN (1192304)

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Prepared for Tony & Anne Campbell

Table of Contents
Part 1 – Cover Letter ..................................................................................................................................... 3 Part 2 – Engagement Letter .......................................................................................................................... 4 Part 3 – Net Worth ........................................................................................................................................ 7 Part 4 – Cash Flow ......................................................................................................................................... 8 Part 5 – Mortgage Management .................................................................................................................. 9 Part 6 – Insurance ....................................................................................................................................... 11 Part 7 - Education Fund Planning ............................................................................................................... 13 Part 8 - Retirement planning ...................................................................................................................... 14 Part 9 - Estate planning ............................................................................................................................... 16 Part 10 - Investment management ............................................................................................................ 19 Part 11 – Recommendations & Summary ................................................................................................. 22

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Prepared for Tony & Anne Campbell

Part 1 – Cover Letter
Engagements By developing a financial plan, you and your family:      Will have a better understanding of your current financial situation. Determine attainable retirement, education, insurance, and other financial goals. Review goals, funding strategies, and alternatives where goals have to be compromised. Have the necessary financial resources set aside to fund your goals as they occur. Reduce the effect of unexpected events, such as disability, premature death

Client Objectives and Goal  Tony would like to elaborate on any tax planning ideas that his family could directly benefit from by owing/operating his business  Tony and his spouse Anne would like to start planning financially for their new family. They want to have examples to follow so they could minimize taxes when Anne is on maternity leave  They would like to know whether they should be paying down their mortgage or contributing to their RRSPs.  Tony and Anne would like for advices regarding renewing their mortgage that comes due May 31, 2014.  Anne wants to know why she is only allowed to contribute less than half of what Tony is allowed to contribute to RRSPs. She also wants to know how to take advantage of the taxable benefit that associated with her ESPP every year.    They want advices regarding how to be debt-free by the time they retire. Tony wants to leave his business to his children. Tony wants to make sure his estate is left in an equitable manner to his family members.

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Prepared for Tony & Anne Campbell

Part 2 – Engagement Letter
April 4 Tom Campbell 123 DeGroote Street, Burlington, Ontario, L7P 2T3 Dear Mr. Campbell, Thank you for taking the time to meet with me to discuss your financial affairs. I look forward to working with you. Parties to This Engagement: This Letter of Engagement outlines the services to be provided by me, in the capacity of a CERTIFIED FINANCIAL PLANNER professional,...
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