CARMEN VENTER WORKSHOPS FOR CFP EXAMINATIONS 2014
|
|
- Brooke Thomasine Burke
- 5 years ago
- Views:
Transcription
1 CARMEN VENTER WORKSHOPS FOR CFP EXAMINATIONS 2014 RETIREMENT PLANNING Page 1
2 Retirement Planning is : 1. Ensuring that you understand the taxation of any lump sums that may be due at retirement as, your client will only be able to utilize the net amount after tax. The taxation of lump sums will however be covered in the Session titled Employee Benefits and Taxation. 2. Calculating the client s need at and for retirement to establish whether, after taking into account all available assets for retirement, he has either a surplus or a shortfall. This involves the use of financial calculations which is addressed in the notes below. 3. Making the necessary recommendations to address this shortfall if one exists. Part of your recommendation will always be to calculate a contribution to a retirement annuity and the maximum allowed for retirement purposes. Part of your recommendations will involve the financial calculation of annuity contributions at times escalating over the term and other times not. Take the following pointers into account: 1. While reading your case study start by drawing pictures if necessary. Very important is to DRAW YOUR TIME LINE. 2. Eliminate from your picture and or case study facts, any assets mentioned that will not form part of retirement planning. To do this you have to carefully and with your full attention, read the facts! 3. Make sure that your picture / time line, clearly indicates: (a) What payment, in current value, is needed in their first year of retirement (b) How many years /months do they have before they retire? This would be the same term in which they have to save for retirement. (c) How long do they want this payment for and will this payment have to escalate over the retirement term. (d) The capital amount that is needed at the date of retirement ie: how much do they have to have in their savings vehicles when they open their eyes on their first day of retirement? (e) how much they would to save today, until they retire, to make sure that they have the necessary capital amount for their retirement days. (f) Ensure you understand at what rate will the investment grow BEFORE retirement and is there a different growth factor on investments AFTER retirement? (g) Is there an inflation rate? or are they mentioning specifically the rate that the pension annuity must escalate by? (h) Clearly establish which assets your client is prepared to convert into cash for retirement planning use. Page 2
3 Perhaps the following steps will make the process a little easier for you: Step 1 Determine needs Current age and retirement age: {Period between these two ages equals :- how long before retirement and the term you have in which to save:} What is the annual payment (current value) needed at retirement age: For how long is this income needed: Will this retirement income increase and by what rate: Step 2 project current value income needed at retirement to a future value at retirement age. {This will become the PAYMENT needed for retirement term} Step 3 Convert the payment needed into a capital amount that is required at retirement age {Do this by calculating the PV of all the payments needed over the term, using the resultant rate} Step 4 Determine all liabilities that will be met at retirement as well as, any other needs at retirement {project current value to future value at retirement, using the relevant growth factor} Add step 3 and step 4 = total capital needed at retirement for retirement purposes Step 5 Determine all assets available for retirement purposes and do calculations by projecting the values to retirement age using the relevant growth factors.. Step 6 compare total capital available at step 5 with the total capital needed at step 4 Capital Needed Capital Available = shortfall/surplus If examiner requests: Step 7 calculate level/escalating premium needed to meet capital shortfall Page 3
4 RETIREMENT PLANNING EXERCISE Facts Mrs Able, 47 yrs old, receives a gross salary of R per annum and will retire at the age of 65 years. She expects her salary to grow at a rate of 6% per annum. She would like income equal to 85% of her current gross salary and her pension annuity must increase at an annual rate of 12%. She expects to live until her age of 90 years. She is a member of her employers Provident Fund the current value being R Her Employer Contributes 9% & she contributes 7.5% of her salary towards the provident fund. The Employer contribution however includes 1.5% which is for the risk component of the fund. She also contributes R pm towards her own retirement annuity. The current value being R She will pay premiums until her age of 65. Contributions are not increasing. She currently has the following assets that will be utilised for retirement purposes: Asset Current Value Growth rate Shares R % Business Interest R % She also has the following assets which she would ideally not want to use for retirement purposes unless absolutely necessary: Asset Current Value Growth rate Artwork R % She would like to purchase a new car when she retires the current value of the car is R assumption is made that the cost will increase with inflation. She expects that she will have to pay off a last amount of R on her bond at retirement. This is the value at the time of retirement. Make the following assumptions unless otherwise stated. Inflation rate is 7% per annum throughout The net return on capital before retirement is 12% per annum The net return on capital after retirement is 10% per annum She has a marginal tax rate of 40%. Page 4
5 You are required to: 1. Calculate any shortfall 2. Calculate capital needed to meet this shortfall 3. Calculate monthly premium required to meet this capital Level premium and Escalating premium 4. If she had to sell the artwork how much difference would this make to the capital needed? 5. Assume that she has decided not to sell the artwork by how much can her retirement annuity increase by, to take full advantage of tax benefits? [other relevant information for this question: Receives rental income of R a month. She has trade expenses of R a year on this income. She receives annually: R local interest, R 2400 foreign interest and R foreign dividend.] 6. Were she not able to contribute any more into her retirement annuity for tax purposes what other recommendations would you make? Any other considerations? Page 5
6 Page 6
CARMEN VENTER COPYRIGHT
Carmen Venter CFP WORKSHOPS FINANCIAL CALCULATIONS presented by Geoff Brittain 1 Mr Makhensa, born 20 January 1983. Wants to receive a monthly income of at least R35,000 (after tax 40%) in today s value,
More information(A) (B) (C) (D) (A+D)
Taxation - Debt MF Dividend RI: Pramod redeemed entire units of debt oriented mutual fund on 31 December 2011 at Rs 22.16. He originally purchased 3500 units at Rs 18.27 during 2007-08.He received dividends
More informationIncome Exemption Limits
Income Exemption Limits SEPTEMBER 2015 The information and tax rates contained in this presentation are based on Irish Life s understanding of legislation and Revenue practice as at September 2015 and
More informationUNDERSTANDING YOUR FUTURE CREATE A PICTURE OF YOUR RETIREMENT
UNDERSTANDING YOUR FUTURE CREATE A PICTURE OF YOUR RETIREMENT CONTENTS My Future 2 Your Family 2 Your Property 3 Your Assets 3 Your Future Summary 4 Your Retirement 4 Your Future Income 5 Details & Events
More information1.5% above RBI Repo rate. 9 Car loan of Rs. 5.5 lakh taken in April, 2013 at a fixed interest of 11.5% p.a. for a 4-year term; Car cost Rs. 8 lakh.
Case: Mr. Roger (Reference date: 1st April, 2016) Roger, aged 29 years, is working with a multinational company since December 2010. He has approached you, a CFP CM practitioner, for preparing his Financial
More informationPresenter: Marius Botha CFP Topic: PCE Exam Training February 2018 Session 2
Presenter: Marius Botha CFP Topic: PCE Exam Training February 2018 Session 2 Marius Botha mbotha@iafrica.com Agenda Case study with questions and answers Accrual formula for life insurance Section 11F
More informationRetirement Planning Report
Retirement Planning Report Client Name: Rachel Jones Client Ref: RP000912 Adviser Name: Fred Bloggs Report Print Date: 24/07/2017 _ This report has been based on the following information. Please make
More informationCARMEN VENTER WORKSHOPS FOR CFP EXAMINATIONS 2014
CARMEN VENTER WORKSHOPS FOR CFP EXAMINATIONS 2014 Page 1 MARITAL REGIMES MARRIAGE ACT 25 OF 1961 MATRIMONIAL PROPERTY ACT NOV 1984 (includes marriages between black people as of 2/12/88) 1. In Community
More information3) Money accumulates when it is invested and earns interest, because of the time value of money. Answer: TRUE
Personal Finance, 2Ce (Madura/Gill) Chapter 2 Applying Time Value Concepts 2.1 True/False 1) Time value of money is based on the belief that a dollar that will be received at some future date is worth
More informationCase: Roger. 1 Opened in December, 2011 in the name of Roger
Case: Roger (Reference date: 1st April, 2017) Roger, aged 29 years, is working with a multinational company since December 2010. He has approached you, a CFP CM practitioner, for preparing his Financial
More informationSlide 1. Introduction
World Bank Seminar script. Slide 1 Introduction Peter Dinsdale is an World Bank retiree with experience of retiring and returning to the UK having sold up in the US and jumped through all of the necessary
More informationMortgages & Equivalent Interest
Mortgages & Equivalent Interest A mortgage is a loan which you then pay back with equal payments at regular intervals. Thus a mortgage is an annuity! A down payment is a one time payment you make so that
More informationPalisades Hudson Financial Group LLC 2 Overhill Road, Suite 100 Scarsdale, NY 10583
Palisades Hudson Financial Group LLC 2 Overhill Road, Suite 100 Scarsdale, NY 10583 December 31, 2007 Mr. John Client 123 Main Street Anytown, ST 12345 Dear John, You have asked us to help you evaluate
More information1) Cash Flow Pattern Diagram for Future Value and Present Value of Irregular Cash Flows
Topics Excel & Business Math Video/Class Project #45 Cash Flow Analysis for Annuities: Savings Plans, Asset Valuation, Retirement Plans and Mortgage Loan. FV, PV and PMT. 1) Cash Flow Pattern Diagram for
More informationGeorgia State University J. Mack Robinson College of Business. Spring 2010: FI3300 Solutions for Quiz #2
Georgia State University J. Mack Robinson College of Business Spring 2010: FI3300 Solutions for Quiz #2 Instructions 1. Please put your student ID number (last 4 digits) and name at the bottom of this
More informationFINANCIAL PLANNING CASE STUDY MODULE 2015 PART A AND B
CARMEN VENTER WORKSHOPS FOR CFP EXAMINATIONS FINANCIAL PLANNING CASE STUDY - 714 MODULE 2015 PART A AND B Remember: always justify your answer as there is not only one correct answer! (unfortunately) ALWAYS
More informationChapter 2 :Applying Time Value Concepts
Chapter 2 :Applying Time Value Concepts 2.1 True/False 1) Time value of money is based on the belief that a dollar that will be received at some future date is worth more than a dollar today. Diff: 1 Type:
More informationGetting Ready to Retire
How to Prepare for Your Retirement A GUIDE TO: Getting Ready to Retire EDUCATION GUIDE Create a plan now for a more comfortable retirement If you re five years or less from retirement, now is the time
More informationWhat is an asset What is valid documentation FMV/Penalties
What is an asset What is valid documentation FMV/Penalties Annuities Bank Accounts, Money Markets, CD s, Mutual fund accounts, and Investment accounts Bonds Burial Funds Contents of Safe Deposit Box Inheritance
More informationRetirement. Mr. Sample and Mrs. Anna 401k Participant. Prepared for: November 19, (Main Scenario)
Prepared for: Mr Sample and Mrs Anna 401k (Main Scenario) November 19, 2008 Mr Sample and Mrs Anna 401k Retirement Table of Contents Title Page 1 Table of Contents 2 Spending Goal 3 Current Funding 4 Additional
More informationFinancial Plan For Mr. XYZ. Prepared By Contac t No Date DD/MM/YYYY
Financial Plan For Mr. XYZ Prepared By ABC Contac t No. 99999 99999 Date DD/MM/YYYY 1 Contents Sr. No. Topic Page No. 1 Assumptions 3 2 Income Expense Analysis 4 3 Your Networth 7 4 Your Risk Profile 8
More informationAFTERNOON SESSION. Date: Thursday, April 26, 2018 Time: 1:30 p.m. 3:45 p.m. INSTRUCTIONS TO CANDIDATES
SOCIETY OF ACTUARIES Life Finance & Valuation - Canada Exam ILALFVC AFTERNOON SESSION Date: Thursday, April 26, 2018 Time: 1:30 p.m. 3:45 p.m. INSTRUCTIONS TO CANDIDATES General Instructions 1. This afternoon
More informationFINANCIAL SERVICES ADVISOR
FINANCIAL SERVICES ADVISOR PROFESSIONAL COMPETENCY EXAMINATION SUGGESTED ANSWERS Date: 16 February 2017 Time: 09:00 13:00 (4 hours) Total marks: 50 Open book examination Pass mark: 60% Question 1 (7.5
More informationFin 5413: Chapter 06 - Mortgages: Additional Concepts, Analysis, and Applications Page 1
Fin 5413: Chapter 06 - Mortgages: Additional Concepts, Analysis, and Applications Page 1 INTRODUCTION Solutions to Problems - Chapter 6 Mortgages: Additional Concepts, Analysis, and Applications The following
More informationTax Planning on Retirement. Professor Jennifer Roeleveld Head Taxation: Department of Finance and Tax University of Cape Town
Tax Planning on Retirement Professor Jennifer Roeleveld Head Taxation: Department of Finance and Tax University of Cape Town What is in the Fund While employed (permanent staff): Retirement savings (contributions
More informationTo RA or TFSA which one is better?
DRW Investment Research To or which one is better? An evaluation of investing in a retirement annuity product versus a tax-free savings account which investment product yields the highest possible value
More informationTax changes to retirement savings from 6 April 2016.
Tax changes to retirement savings from 6 April 2016. The tax limits for retirement savings are changing from 6 April 2016. Many members of the Experian Retirement Savings Plan (ERSP) are unlikely to be
More informationFor your family BUSINESS SUCCESSION
For your family BUSINESS SUCCESSION BUSINESS SUCCESSION This brochure will help family members after your death and for that reason, we refer to the deceased throughout. We ve included practical advice
More informationFSC Statistics QUARTERLY RETURN FOR TRADITIONAL AND RISK BUSINESS - PRODUCT SUMMARY. Quarter: 30/06/2016 ANNUAL PREMIUMS $000
QUARTERLY RETURN FOR AND BUSINESS - PRODUCT SUMMARY Quarter: 30/06/2016 ANNUAL PREMIUMS $000 ANNUAL PREMIUM SINGLE PREMIUM Product In force at start Contractual premium changes Revisions New business Transfers
More informationSaving for Retirement
Saving for Retirement Should I make use of approved retirement funding vehicles such as retirement annuities, or should I use my own discretionary investments? By Daniel R Wessels August 2013 1. Methodology
More informationUK Pensions: To Transfer or Not to Transfer?
UK Pensions: To Transfer or Not to Transfer? Katie Boag-Thomson Senior Adviser The Fry Group Belgium Why Consider Transferring? Consolidation Greater control Wider investment choice Currency flexibility
More informationTax changes to pension savings from 6 April 2016
Tax changes to pension savings from 6 April 2016 The tax limits for pension savings are changing from 6 April 2016. Many members of the Experian Pension Scheme (EPS) are unlikely to be affected by the
More informationRetirement Seminar Presentation
Retirement Seminar Presentation Olivia van der Hoven UCTRF Principal Officer Dave Strugnell AU-nominated trustee 1 Broad agenda for today: Choices for those not due to retire this year Options and information
More informationGUIDE TO YOUR RETIREMENT. Your choices explained. Pensions
GUIDE TO YOUR RETIREMENT Your choices explained Pensions 2 Please read this guide in conjunction with the Money Advice Service guide Your pension: it s time to choose which is included with your Retirement
More informationTax Planning on Retirement. Professor Jennifer Roeleveld Head Taxation: Department of Finance and Tax University of Cape Town
Tax Planning on Retirement Professor Jennifer Roeleveld Head Taxation: Department of Finance and Tax University of Cape Town What is in the Fund While employed (permanent staff): Retirement savings (contributions
More informationInvestment Appraisal
Investment Appraisal Introduction to Investment Appraisal Whatever level of management authorises a capital expenditure, the proposed investment should be properly evaluated, and found to be worthwhile
More informationCERTIFIED FINANCIAL PLANNER PROFESSIONAL COMPETENCY EXAMINATION 20 AUGUST 2015
CERTIFIED FINANCIAL PLANNER PROFESSIONAL COMPETENCY EXAMINATION 20 AUGUST 2015 SUGGESTED ANSWERS: SESSION 2 Question 1.1 Step 1: Value of R25 in 12 years time. 1 P/YR Begin mode Shift clear all 25 +/-
More informationSuggested solutions to 3-mark and 4-mark problems contained in the Sample Paper - Exam 4: Tax Planning & Estate Planning
Suggested solutions to 3-mark and 4-mark problems contained in the Sample Paper - Exam 4: Tax Planning & Estate Planning Section II Question 6 Mrs. A whose date of birth is 30th March 1956 has a total
More informationMarius Botha Presenter: Marius Botha CFP Topic: PCE Exam Training February 2018 Session 1
Marius Botha mbotha@iafrica.com Presenter: Marius Botha CFP Topic: PCE Exam Training February 2018 Session 1 Discussion Old Exam Paper Slide 2 Old papers Original dates and question numbers retained but
More informationVulcan County 2017 ANNUAL OPERATING AND CAPITAL BUDGET
Vulcan County 2017 ANNUAL OPERATING AND CAPITAL BUDGET BUDGETED STATEMENT OF OPERATIONS REVENUE Net municipal taxes (schedule 3) $ 14,717,913 Government transfers (schedule 4) 694,241 Return on investments
More informationFINANCE YOUR JOURNEY
FINANCE YOUR JOURNEY DESTINATION: YOUR PERFECT FINANCE PLAN At Suzuki, we re all about putting you in the right direction, which is why we re going to help you drive away in your new or used car with a
More informationCan I Create a Sustainable Income in Retirement?
1 Can I Create a Sustainable Income in Retirement? Pre-Retirement Webinar Series Session 2 Oct. 11, 2018 131-3108 2 Agenda Welcome ELCA Retirement Plan Distribution Options Housing Allowance Eligibility
More informationOmbudsman s Determination
Ombudsman s Determination Applicant Scheme Respondent(s) Mrs R Aviva Section 32 Policy Aviva Complaint Summary 1. Mrs C has complained that Aviva has refused to pay a 3% per annum compound escalation rate
More informationRetirement Income Options
Retirement Income Options How will you spend your retirement? Disclaimer This document is provided for informational purposes only. You should not rely only on this information for your retirement planning
More informationA guide to your retirement income options with TIAA-CREF
A guide to your retirement income options with TIAA-CREF Helping you make important decisions about your retirement How will I know when the time is right to retire? Making the decision to retire is no
More informationTAX GUIDE YEAR-END 2016/17.
YEAR-END TAX GUIDE 2016/17 023 8046 1200 www.hwb-accountants.com admin@hwb-accountants.com HWB is a trading name of Hopper Williams and Bell Limited. Registered to carry on audit work in the UK and regulated
More informationArizona State Retirement System. National Institute of Governmental Purchasing Arizona State Capitol Chapter
Arizona State National Institute of Governmental Purchasing Arizona State Capitol Chapter May 14, 2013 0 Discussion Topics ASRS Financial Health 2013 ASRS Legislative Initiatives DC and Retirement Study
More informationSurvivor Benefits. For members enrolled in the. Combined Plan
Survivor Benefits For members enrolled in the Combined Plan 2018 2019 Survivor Benefits Overview Table of Contents Survivor Benefits Overview...1 Survivor benefits offered under the Combined Plan...2 Qualified
More informationSolutions: Case 1 (Roger)
Solutions: Case 1 (Roger) Q1 Q2 Q3 Q4 Q5 B) professional requirement under Practice Guidelines of FPSB India D) Identify other issues that may potentially impact Roger s ability to achieve financial goals
More informationRequired Minimum Distributions (RMDs)
Weller Group LLC Timothy Weller, CFP CERTIFIED FINANCIAL PLANNER 6206 Slocum Road Ontario, NY 14519 315-524-8000 tim@wellergroupllc.com www.wellergroupllc.com Required Minimum Distributions (RMDs) March
More informationPrepared for Mr. Eric Example, Mrs Celine Example July 30, 2013
Prepared for Mr. Eric Example, Mrs Celine Example July 30, 2013 Jean Le Conseiller Conseiller en sécurité financière Bons conseils et associés 1234, rue du Conseil Montréal(Québec) Telephone:514-555-5555
More informationChapter 13 3/2/2015. Agenda. Determining the Cost of Life Insurance 3. Buying Life Insurance
Chapter 13 Buying Life Insurance Agenda 2 Determining the Cost of Life Insurance Rate of Return on Saving Component Taxation of Life Insurance Shopping for Life Insurance Determining the Cost of Life Insurance
More informationSOCIAL SECURITY. 6 Critical Social Security Facts Retirees Must Know
SOCIAL SECURITY 7/26/201 6 6 Critical Social Security Facts Retirees Must Know Social Security provides an important source of guaranteed income for most Americans. Choosing the right claiming strategy
More information>>> Boston University Retirement Plan? What s New with the. A streamlined structure of investment options that makes it easier to plan for retirement
>>> What s New with the Boston University Retirement Plan? A streamlined structure of investment options that makes it easier to plan for retirement Boston University is pleased to announce exciting improvements
More informationKimberly-Clark Corporation U.S. Pension Plan
Kimberly-Clark Corporation U.S. Pension Plan April 2014 Dear Plan Participant: Here is your Annual Funding Notice for the Kimberly-Clark Corporation U.S. Pension Plan as of December 31, 2013. Also, instructions
More informationWhat You Should Know: Required Minimum Distributions (RMDs)
Brian D. Goguen, P.C. Brian D. Goguen, CPA CFP 164 Concord Road Billerica, MA 01821 978-667-4595 bdgoguen@comcast.net www.bgoguen.com What You Should Know: Required Minimum Distributions (RMDs) Page 1
More informationCOMPANY PENSION RETIREMENT OPTIONS
PENSIONS INVESTMENTS LIFE INSURANCE AN ADVISERS GUIDE TO: COMPANY PENSION RETIREMENT OPTIONS UPDATED FOR FINANCE ACT 2016 This is a technical guide for financial advisers only and is not intended as an
More informationSpouse's Consent to Waive a Qualified Joint and Survivor Annuity
Spouse's Consent to Waive a Qualified Joint and Survivor Annuity Instruction: The sample language does not address the one-year-of-marriage rule under section 417(d); if a plan applies the one-year rule,
More informationSurvivor Benefits. For members enrolled in the. Defined Benefit Plan
Survivor Benefits For members enrolled in the Defined Benefit Plan 2017 2018 Survivor Benefits Overview Table of Contents Survivor Benefits Overview...1 Survivor benefits offered under the Defined Benefit
More informationMaximizing Your Pension Income
Maximizing Your Pension Income These materials are not intended to be used to avoid tax penalties and were prepared to support the promotion or marketing of the matter addressed in this document. Neither
More informationA nd Edition, (Updated: July 25, 2011)
A-201 2 nd Edition, 2008 (Updated: July 25, 2011) A201 - T1-2 28 Taxation Concepts pertaining to Insurance of Persons The actual amount of assessable dividends 6 is grossed-up by 45% to arrive at a taxable
More informationThe 'Dynamic Balance Sheet'
Enterprise Development Training Course DAY TWO - SESSION SEVEN The 'Dynamic Balance Sheet' Objective: Time: to enable participants to apply, expand and test what they have learned so far about simple accounts,
More informationDon t Forget Gifts of Tangible Personal Property
Don t Forget Gifts of Tangible Personal Property PG Calc Feature Article, August 2013 Except for museums that are accustomed to receiving gifts of art and artifacts, charities tend to focus on gifts of
More informationPlanLab UK Input Guidelines and Assumptions. Detailed Planning Sections
Household Information: PlanLab UK Input Guidelines and Assumptions Detailed Planning Sections - Client A and B are Married: If you are entering the new client details through the Detailed Planning screens,
More informationCanadian Investments Funds Course
Course Information Welcome to the Canadian Investment Funds course. Since this course was first offered in 1966, this course has served as the foundation for thousands of careers in the mutual fund industry.
More informationThe Roman Catholic Archdiocese of Boston Pension Plan Changes
The Roman Catholic Archdiocese of Boston Pension Plan Changes Former Employees with Vested Benefits March/April 2011 Presenters Carol Gustavson Director, Benefit Trusts/ Plan Administrator, RCAB Pension
More informationCARBON COUNTY SCHOOL DISTRICT #2 INCOME STATEMENT AS OF July 31, 2017
INCOME STATEMENT AS OF July 31, 2017 DISTRICT REVENUE July17 Year to Date 01 000 81111 SPECIAL DISTRICT TAX 23,552.85 23,552.85 01 000 81120 MOTOR VEHICLE TAX 01 000 81130 CAR COMPANY TAX 30,405.40 30,405.40
More informationADVANCED CAPITALIZATION METHODS
ADVANCED CAPITALIZATION METHODS The common capitalization method of valuation for investment properties, the initial yield method, assumes two things; that the rent is paid at the end of the period and
More informationINSTITUTE OF ACTUARIES OF INDIA
INSTITUTE OF ACTUARIES OF INDIA EXAMINATIONS 4 th May 2016 Subject CT5 General Insurance, Life and Health Contingencies Time allowed: Three Hours (10.30 13.30 Hrs) Total Marks: 100 INSTRUCTIONS TO THE
More informationREVIEW MATERIALS FOR REAL ESTATE FUNDAMENTALS
REVIEW MATERIALS FOR REAL ESTATE FUNDAMENTALS 1997, Roy T. Black J. Andrew Hansz, Ph.D., CFA REAE 3325, Fall 2005 University of Texas, Arlington Department of Finance and Real Estate CONTENTS ITEM ANNUAL
More informationTime Value of Money. PAPER 3A: COST ACCOUNTING CHAPTER 2 NESTO Institute of finance BY: CA KAPILESHWAR BHALLA
Time Value of Money 1 PAPER 3A: COST ACCOUNTING CHAPTER 2 NESTO Institute of finance BY: CA KAPILESHWAR BHALLA Learning objectives 2 Understand the Concept of time value of money. Understand the relationship
More informationPreparing for Cognitive Impairment: Three Items You Can t Do Without By Renée Kwok CFP, President, TFC Financial Management
Reprinted from Forbes.com Preparing for Cognitive Impairment: Three Items You Can t Do Without By Renée Kwok CFP, President, TFC Financial Management The way in which families interact changes as life
More informationGUIDE TO YOUR RETIREMENT. Your choices explained. Pensions
GUIDE TO YOUR RETIREMENT Your choices explained Pensions 2 Please read this guide in conjunction with the Money Advice Service guide Your pension: it s time to choose which is included with your Retirement
More informationCHAPTER 4 DISCOUNTED CASH FLOW VALUATION
CHAPTER 4 DISCOUNTED CASH FLOW VALUATION Answers to Concept Questions 1. Assuming positive cash flows and interest rates, the future value increases and the present value decreases. 2. Assuming positive
More informationFPSB India / Public FPSBI/M-VI/02-01/10/SP-22
Case Study Vanisha Lohia (Reference Date: 20 th February, 2010) Vanisha Lohia, aged 24 years (born on 12 February 1986) has approached you, a CFP CM certificant to prepare a financial plan for her. She
More informationDate: 16 February 2017 Total Marks : 50 Time: 09:00 13:00 (4 Hours) Pass mark : 60%
Financial Services Advisor FSA PROFESSIONAL COMPETENCY EXAMINATION Tear this top page off, read it, sign it and please hand in with your answer booklet Date: 16 February 2017 Total Marks : 50 Time: 09:00
More informationInvestments. Reference Guide. August First State Super Financial Services Pty Ltd ABN , AFSL
Reference Guide August 2016 Investments This document is an information reference to be used in conjunction with your Statement of Advice, Product Disclosure Statement(s) (PDS) and research materials provided.
More informationREQUIRED MINIMUM DISTRIBUTIONS (RMDs)
REQUIRED MINIMUM DISTRIBUTIONS (RMDs) Everything you need to know about Required Minimum Distributions. What are required minimum distributions (RMDs)? A required minimum distribution, also referred to
More informationRULE OF TIME VALUE OF MONEY
RULE OF TIME VALUE OF MONEY 1. CMPD : a. We can set our calculator either begin mode or end mode when we don t use pmt. We can say that in case of using n, I, pv, fv, c/y we can set out calculator either
More informationAnnuities and Income Streams
Annuities and Income Streams MATH 151 Calculus for Management J. Robert Buchanan Department of Mathematics Summer 212 Objectives After completing this lesson we will be able to: determine the value of
More informationKimberly-Clark Corporation Pension Plan
Kimberly-Clark Corporation Pension Plan April 2017 Dear Plan Participant: Here is your Annual Funding Notice for the Kimberly-Clark Corporation Pension Plan as of December 31, 2016. Also, instructions
More informationunravelling tax simplification: benefit crystallisation events
FEBRUARY 2005 countdown to A-day time to make it simple unravelling tax simplification: benefit crystallisation events Here we give information about benefit crystallisation events and how they will be
More informationAre you affected by the tax-free limits for retirement savings? Experian Retirement Savings Plan January 2017
Are you affected by the tax-free limits for retirement savings? Experian Retirement Savings Plan January 2017 Although many members of the Experian Retirement Savings Plan (ERSP) are unlikely to be affected
More informationCASE STUDY PROTECTING THE BUSINESS OWNER AND THE OWNER S FAMILY
CASE STUDY PROTECTING THE BUSINESS OWNER AND THE OWNER S FAMILY KNOWLEDGE EXPECTED OF: CFP Professionals Only Version 1.0.0, Updated 20170907 John, 42, works on contract in the field of computer animation.
More informationGlobal Mobility Services: Taxation of International Assignees - Swaziland
www.pwc.com/sz/en Global Mobility Services: Taxation of International Assignees - Swaziland People and Organisation Global Mobility Country Guide (Folio) Last Updated: June 2018 This document was not intended
More informationTHE CHARTERED INSURANCE INSTITUTE AF5 FINANCIAL PLANNING PROCESS FACT FIND. October 2016
THE CHARTERED INSURANCE INSTITUTE AF5 FINANCIAL PLANNING PROCESS FACT FIND October 2016 You are a financial adviser authorised under the Financial Services and Markets (FSMA) Act 2000. You completed the
More informationNEED TO KNOW GUIDE TO INCOME DRAWDOWN. Understanding your options
NEED TO KNOW GUIDE TO INCOME DRAWDOWN Understanding your options CONTENTS P3 WHAT IS INCOME DRAWDOWN? P4 WHY CHOOSE INCOME DRAWDOWN? P6 FLEXIBLE DRAWDOWN P7 CONSIDERATIONS P9 IS DRAWDOWN RIGHT FOR YOU?
More informationCHAPTER 4 DISCOUNTED CASH FLOW VALUATION
CHAPTER 4 DISCOUNTED CASH FLOW VALUATION Answers to Concepts Review and Critical Thinking Questions 1. Assuming positive cash flows and interest rates, the future value increases and the present value
More informationFinancial Management I
Financial Management I Workshop on Time Value of Money MBA 2016 2017 Slide 2 Finance & Valuation Capital Budgeting Decisions Long-term Investment decisions Investments in Net Working Capital Financing
More informationFinancial Plan. Rona Birenbaum, CFP. PREPARED FOR: October 03, 2017 PREPARED BY: Financial Planner Viviplan Toronto, Ontario (416)
Financial Plan PREPARED FOR: October 03, 2017 PREPARED BY: Rona Birenbaum, CFP Financial Planner Viviplan Toronto, Ontario (416) 363-8500 Table of Contents Cover Page 1 Table of Contents 2 Objectives 3
More informationFinancial Needs Analysis in the event of death (FNA)
Financial Needs Analysis in the event of death (FNA) Scénario #1 Prepared for: Mr. Maurice Engarde Ms. Marie Engarde March 30, 2010 François Forget Stratégie financière Impact inc. Directeur administratif
More informationSTANLIB Classic Retirement Annuity Fund Terms and Conditions
STANLIB Classic Retirement Annuity Fund Terms and Conditions The Classic Retirement Annuity Fund is ideal if you want to save for your retirement. You need flexibility when it comes to making a contribution
More informationMinistry of Manpower Directorate General of Technological Education NIZWA COLLEGE OF TECHNOLOGY DEPARTMENT OF BUSINESS STUDIES
Ministry of Manpower Directorate General of Technological Education NIZWA COLLEGE OF TECHNOLOGY DEPARTMENT OF BUSINESS STUDIES A FINAL EXAMINATION AY 2014 2015, SEMESTER II COURSE CODE: BAAC4206 COURSE
More informationCA IPC ASSIGNMENT CAPITAL BUDGETING & TIME VALUE OF MONEY
CA IPC ASSIGNMENT CAPITAL BUDGETING & TIME VALUE OF MONEY MM: 60 Marks Question No. 1: A Limited is a leading manufacturer of automotive component. It supplies the original equipment to manufacturers as
More informationCopyright 2015 Pearson Education, Inc. All rights reserved.
Chapter 4 Mathematics of Finance Section 4.1 Simple Interest and Discount A fee that is charged by a lender to a borrower for the right to use the borrowed funds. The funds can be used to purchase a house,
More informationTAKE CHARGE OF YOUR RETIREMENT.
TAKE CHARGE OF YOUR RETIREMENT. Make it personal. And keep it on target. That s what Target Retirement s are designed to do make it easier to invest properly during your working years and help you achieve
More informationTime value of money-concepts and Calculations Prof. Bikash Mohanty Department of Chemical Engineering Indian Institute of Technology, Roorkee
Time value of money-concepts and Calculations Prof. Bikash Mohanty Department of Chemical Engineering Indian Institute of Technology, Roorkee Lecture 09 Future Value Welcome to the lecture series on Time
More informationTable of Contents I. Annuities 2 A. Who... 2 B. What... 2 C. Where... 2 D. When... 3 Annuity Phases... 3 a) Immediate Annuity...
Table of Contents I. Annuities 2 A. Who... 2 B. What... 2 C. Where... 2 D. When... 3 Annuity Phases... 3 a) Immediate Annuity... 3 b) Deferred Annuity... 3 E. Why... 4 F. How do I put my money in?... 4
More informationRetirement Planning Toolkit
Retirement Planning Toolkit Planning a Financially Secure Retirement Page 1 Overview The purpose of this guide is to provide a framework to help you to plan for your retirement. Retirement is one of life
More informationSOCIAL SECURITY. 6 Critical Social Security Facts Retirees Must Know. January 2016
Presented by: SOCIAL SECURITY January 2016 6 Critical Social Security Facts Retirees Must Know Social Security provides an important source of guaranteed income for most Americans. Choosing the right claiming
More information