My Personal Financial Plan

In: Business and Management

Submitted By cheww
Words 356
Pages 2
My Personal Financial Plan

I. Current

A. Description

Currently I am a full time student, and senior, at majoring in Accounting and Finance. I do not have a part time job and do not plan to work until I graduate. I currently have taken out student loans to support myself through the rest of my college education. My parents pay for insurance payments for my car, cover my phone bill, and provide me with medical insurance. I pay for all the rest of my expenses, including rent, food, gas, and all other daily expenses. I currently have no investments and no substantial assets with a value of over $1000. I graduate in May and have signed a contract with KPMG to start work as an auditor in August after I complete the CPA. I will be auditing companies in the telecommunications industry as well as the financial industry. My starting salary is $47,500 a year plus benefits. I use a car that my parents bought me to commute right now but will purchase my own car and become 100% financially independent of them when I start work in the fall.

B. Balance Sheet- (Find in Appendices- #1)

C. Cash Flows Statement/Income Statement- (Find in Appendices- #2)

D. Mission/Vision Statement

Mission Statement- To secure financial stability with minimal leverage by age 50. To have the ability to be generous with my money and consistently give a larger percentage away every year while maintaining my standard of living.
Vision Statement-
When I start my job I plan to make sure to save a good amount of my money while I am still single. I plan to contribute the maximum matching amount of money each month to my 401k through KPMG. I also plan to invest a good portion of money in a variety of index funds, mutual funds, and a few stocks of my choosing. I want to also start putting my bonus money into an IRA each year to accrue until retirement. Through these three…...

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