9. OUTSTANDING DEBTS
Account Name Payment Interest Balance
Frequency of
Payment
# Payments
Left
Explanation
SAVINGS & INVESTMENTS
Account Name Balance
Amount of
Deposit
Frequency of
Deposit
Rate of Return How Taxed Explanation
REAL ESTATE
Name of Property Current Value
Date of
Purchase
Purchase Price Explanation
VISA 55.00 12.0% 460 Monthly 9
Medical/Dental 200.00 0.0% 2,420 Monthly 13
Discover Credit 296.00 16.5% 4,236 Monthly 17
Furniture 237.00 18.0% 5,988 Monthly 32
Auto 417.00 8.0% 13,313 Monthly 37
Mortgage 972.00 6.5% 152,935 Monthly 354 valued at $210,000
Emergency Savings 6,000 0 Monthly 2.5% Taxed
401(k) 33,600 3,600 Annual 5% Deferred
Residence 210,000 1997 155,000 Will finish basement soon
10. A. SPENDABLE MONTHLY INCOME
Historical Current
Gross Monthly Income
Less Taxes FICA
Medicare
Federal Income Tax
State Income Tax
Other Tax
Total Spendable Monthly Income
5,962
358
60
780
477
0
$4,297
7,085
416
69
907
554
0
$5,139
22. Description Monthly
Payment
P & I
Interest
Rate
Number
Payments
Remaining
Remaining
Debt
Real Debt
VISA CC $55.00 12.00% 9 $460.00 $482.90
Medical/Dental $200.00 0.00% 13 $2,420.00 $2,420.00
Discover CC $296.00 16.50% 17 $4,236.00 $4,750.80
Furniture $237.00 18.00% 32 $5,988.31 $7,584.00
Automobile $417.00 8.00% 37 $13,313.00 $15,020.34
Home Mortgage $972.00 6.50% 354 $152,935.40 $344,088.00
AVG%
Totals: $2,177.00 10.17% $179,352.71 $374,346.04
$194,993.33
PV= Present Value
PMT= Payment Per Period
5.00% Int= Interest Per Year
29.52 Per= Nr Periodic Payments
30.00% Per= 29.52 X 12 = 354.24
PV= $33,600.00
PMT= $300.00
INT= 5% Per Year
Per= 354.24
P/Yr= 12
Future Value= $388,628.51 BEFORE Taxes
Future Value= $272,039.96 AFTER Taxes
Loss of retirement funds due to taxes: $116,588.55
Annual Interest Earned:
Number of Years For Plan:
Income Tax Bracket:
Retirement Account At The End Of Savings Period:
The Interest You Will Pay Is:
Current Retirement Planning Without Your Family Bank®
Current Retirement Savings: $33,600.00
Monthly Contribution: $300.00
23. REAL DEBT REPORT
Description
Monthly
Payment
Interest
Rate
No. of
Payments
Remaining
Debt
Real Debt
The interest you will pay is:
VISA 55.00 12.0% 9 460.00 482.90
$ 2,177.00 $ 374,346.04$ 179,352.71
Medical/Dental 200.00 0.0% 13 2,420.00 2,420.00
Discover Credit 296.00 16.5% 17 4,236.00 4,750.80
Auto 417.00 8.0% 37 13,313 15,020.34
Mortgage 972.00 6.5% 354 152,935 344,088.00
Furniture 237.00 18.0% 32 5,988.00 7,584.00
$ 194,993.33
41. $725,366
$828,359
$1,384,494
$1,759,698
Available at
Retirement
$906,707 $952,137 $1,798,563 $1,892,148
Percent Subject
to Taxes
42.39% 15.25% 8.07% 13.52%
Principles
Applied
None #8
• Became organized
• Found 1% higher rate
of return than earned
with 401(k)
#9
• Participated in
company Roth IRA
instead of continuing
with 401(k)
#2
• Found $300
Accelerator
through tracking
• Began to Power
Down debt
#4
• Paid off all debts
• Applied debt
payments to
Emergency Savings
#2, #4, #9,
#3
• Used $4,696 of Emergency
Savings to pay off all debt
• Increase Accelerator to $651
#7
• Found higher returns on
401(k) and Roth IRA
#10
• Combined all principles at the
same time
Tax rates are left constant.
Return rates between 5 & 6%.
42. What are you really earning?
One Step Forward…Two Steps Back!
$100,000
Annual Income$150,000
Retirement Acct.
10%
Annual Return
-34.5%
Interest Payments
-19.5%
-$19,500
Annual Return
$15,000 -$34,500
43. Year 1
$20,000 4 Years at 5% = $460/mo
= $5,520/yr
$30,000
-20,000
$10,000
+5,520
$15,520Year One Balance
Initial Balance
Year One Balance $ 0.00
44. Year 2
Initial Balance
Year Two Balance $ 0.00
$11,000 3 Years at 10% = $354/mo
= $4,248/yr
$15,520
-11,000
$4,520
5,520
+4,248
$14,288
45. Year 3
$5,000 2 Years at 10% = $230/mo
= $2,760/yr
Initial Balance
Year Three Balance $ 0.00
$14,288
-5,000
$9,288
5,520
4,248
+2,760
$21,816
49. + Liquidity, Use, & Control
+ Tax-free Transfer To Heirs
+ Disability Benefits
+ Collateral (For Loans)
+ Tax-free
+ Tax-deferred
+ No Credit Checks
+ No Taking a Number
+ No Banking Hours
+ No Application
+ No Loan Denial
+ It’s Your Money!
50.
51. BENEFITS
Short Term Long Term
Rarely argue about money Get out of debt in 9 years or less
Save 2-7% of your gross income Save 10% of you income for life
Identify wasted money
Double or Triple your retirement
savings
Learn how to prioritize
Learn how to protect you
retirement nest egg
Learn how to stop worrying about
money
Learn how to cut your annual tax
burden in half
Learn how to forecast your
retirement need
Become more efficient with your
money
