Resources vs Goals Analysis
|
Must Have |
 |
Retirement Living Expenses |
$3,403,180 |
 |
College Fund |
$6,32,460 |
 |
Sports Car |
$2,31,695 |
 |
Long Term Care Policy |
$453,755 |
 |
Vacation Home |
$0 |
 |
Retirement Travel |
$453,755 |
 |
House Renovation |
$78,815 |
| |
Total Expenses |
$5,253,660 |
|
Good to Have |
|
Retirement Living Expenses |
$4,537,570 |
|
College Fund |
$1,011,935 |
|
Sports Car |
$309,910 |
|
Long Term Care Policy |
$544,690 |
| |
Vacation Home |
$0 |
|
Retirement Travel |
$544,690 |
|
House Renovation |
$103,175 |
| |
Total Expenses |
$7,051,370 |
|
Nice to Have |
|
Retirement Living Expenses |
$5,671,965 |
|
College Fund |
$1,770,890 |
|
Sports Car |
$412,415 |
|
Long Term Care Policy |
$0 |
|
| Vacation Home |
$1,239,900 |
|
Retirement Travel |
$597,680 |
|
House Renovation |
$132,655 |
| |
Total Expenses |
$9,825,505 |
Must Have
|
| Total Funds |
$6,394,790 |
| Surplus |
$1,141,130 |
| Excess Funding |
21.7% |
|
|
|
Good to Have
|
| Total Funds |
$6,394,790 |
| Deficit |
($656,580) |
| Shortfall |
(9.3%) |
Monthly Savings
Required till 2032$4,410 |
|
Nice to Have
|
| Total Funds |
$7,794,790 |
| Deficit |
($2,030,715) |
| Shortfall |
(20.7%) |
Monthly Savings
Required till 2032$13,640 |
|
Tax - Advantaged Accounts
| 401 (k) Account |
$ 540,000 |
| Adrian's Roth IRA |
$ 790,000 |
| Brokerage Account |
$2,337,500 |
| Total |
$ 3,667,500 |
Expected Income
| Adrian's Social Security |
$ 1,034,565 |
| Jennifer's Social Security |
$ 803,600 |
| Pension Income |
$ 410,820 |
| Total |
$ 2,248,985 |
Expected Savings
| Monthly Savings |
$ 822,465 |
| Rental Income |
$ 586,420 |
| Consulting Business |
$ 469,420 |
| Total |
$ 1,878,305 |