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FINANCIAL PLANNING FOR Ms. CATHERINE PARKER PATEL Financial Services Presented by: Pritesh Patel Student ID: 300769510 Presented to: Professor Rajiv Issar Centennial College Progress Campus TABLE OF CONTENTS Disclaimer Letter of Engagement Personal Information Introduction & Objective Cash Flow Summary Income Statement Investments Annuities Asset Allocation Insurance Life expectancy Estate Planning Exhibits and Calculations DISCLAIMER The analysis of the financial projection in this report is based on the assumptions and the information which you (client) provided. These assumptions and information can be change with the passage of time. The…show more content…
Her primary objective is to maintain her current life style and take care of herself in case of any disability. Her major concerns are related to her extensive traveling and social life style .The second concern related to her own and rental property. She wants to move condo after selling these properties, the prices of condo in her neighborhoods fall between $1 million to $1.25 million which she is considering, but she is indecisive to sell her own property. Her principle house is currently estimated at $850,000 and three rental properties values are now $ 2.3 million. The total maintenance cost for principal and rental properties are $10,000 and $25,265 respectively. Besides these properties she has great savings and income, she is receiving $54,120 annually from these three rental properties, which are her major source of income and the other source of income of her CPP $10,100 annually which included her survivors and retirement benefits and payments from Registered Life Annuity, RRIF and a survivor pension from her husband employment. In addition she has investments in RRSP, non registered accounts, TFSA and federally controlled LIF. She also have shares certificates which has sufficient value and she receives reasonable dividends annually. She has substantial cash balances in cashable GIC for $412,920 with the interest of 1.9% annually and in her chequing account she has $141,067 without interest. She also has medical and life
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