The best time to start thinking about what to do to get your financial affairs in order is now. Devising and implementing a financial plan will have a significant impact on your finances today and the future for years to come.A financial plan is not a 100-page document you put together and let it sit on a bookshelf; it is a living document that should be reviewed periodically to reflect your current and future needs, wants, and wishes. At a minimum, that plan should include your budget, investment strategies, debt management, risk management, emergency fund strategies, retirement and estate planning.You decide to meet with Jeff, your financial planner, to go over your finances. Jeff understands that you have a good understanding of personal finance, but you also have questions. To get started, he asks you to put together a comprehensive financial plan as a PowerPoint presentation.In your PowerPoint presentation, you will need to explain the following:Foundations of Financial PlanningProvide an example family budgetCreate 3 short- and 3 long-term financial goalsManaging CreditExplain the credit score and where you can find itExplain why the score is importantDemonstrate how you can protect the scoreAsset ManagementExamine debts including credit cards and loans and their impact on your budgetDescribe savings and the different types of savings accountsExplain bankruptcy, categorize types of bankruptcy, and formulate ways to avoid itTax PlanningExamine the types of taxes which affect budgetingCreate your tax strategies to cut your tax billsInvestment PlanningState your risk tolerance and your rationaleCompare investment optionsExamine the merits of diversificationInsuranceExplain types of insurance policiesExplain steps to calculate your insurance coverage needsRetirement and Estate PlanningCompose a list of tasks you can implement today to prepare for retirementExplain how trusts are used in estate planningList of questions you want to go over with Jeff during the meetingInstructions for the presentation:Use the notes area on each slide and include citations.Include links to 10-12 resources for anyone wanting more information at the end of the presentation, before the reference slide.Your final slide(s) should be the reference page for sources cited in the Notes.NOTE - APA formatting for the reference list and proper grammar, punctuation, and form are required.

InstructionsIn this assignment, begin establishing a personal financial plan, reflecting your learning to date in the course. Now that you have an appreciation for developing long-term and short-term financial goals, you will be able to plan appropriately and make adjustments to reflect your intentions as well as outline steps to make necessary changes. In this milestone, you will complete four spreadsheets: Worksheet 1: Personal Financial Goals Worksheet; Worksheet 2: Financial Objectives Worksheet; Worksheet 4: Balance Sheet Worksheet; and Worksheet 5: Simplified Income Statement Worksheet, and write a 2-3 page summaryWorksheet 1: Personal Financial Goals Worksheet Within this spreadsheet, you will have the opportunity to prioritize and organize your goals and expectations. Note that the establishment of an emergency fund and the elimination of credit card debt are listed as potential considerations. Refer not only to Chapters 1 and 2 but also Chapters 5 and 6 and contemplate how you might prioritize the use of your resources. Complete this spreadsheet and use it as the basis for your plan. Worksheet 2: Financial Objectives Worksheet Within this spreadsheet (located in a Word document), you will have the opportunity to document personal financial objectives, specifically those that are longer-term plans. Noting the relevancy to most individuals’ long-term plans, this document allows one to consider not only present but future anticipated requirements of resources for education, family, health, and retirement needs. Complete this comprehensive list and consider any relevant planning requirements that you will need to initiate today. Worksheet 4: Balance Sheet Worksheet Within this spreadsheet, you will document your net worth by completing the required elements of a personal balance sheet. You may refer back to Chapter 2 of your textbook for a model that mirrors this document. Include your assets, liabilities, and assess your equity position. Complete this file and consider the necessity for change in various areas. There are two tabs, so be sure to complete both tabs. (Hint: In the future you will be revising your plan according to anticipated changes that you have identified in Worksheet 2 or in future weeks when we consider the impact of home ownership and other major financial decisions.) Worksheet 5: Simplified Income Statement Worksheet Within this spreadsheet, you will document the distribution of your take-home pay by completing the required elements of a personal income statement. You may refer back to Chapter 2 of your textbook for a model that mirrors this document. Include your assets, liabilities, and assess your equity position. Complete this file, and consider the necessity for change in various areas. (Hint: In the future you will be revising your plan according to anticipated changes that you have identified in Worksheet 2 or in future weeks when we consider the impact of home ownership and other major financial decisions.)