Prior to beginning this assignment, review all the requirements of the Personal

Prior to beginning this assignment, review all the requirements of the Personal Financial Plan report that is due incrementally in Weeks 2, 3, and 4, and the Personal Financial Plan Presentation due in Week 5.
For this assignment, you will schedule an initial interview with the client whose finances will serve as the basis for the Week 4 Financial Plan assignment, and collect all necessary and relevant qualitative and quantitative information from them that is required to develop a financial plan.
For specifications that will guide your selection of the client, review the Week 4 Financial Plan assignment now.
As specified in the bulleted requirements below, schedule the initial client interview to take place sufficiently early in Week 2 to allow time for you to report on the interview for the Week 2 Assignment. If an additional interview or interviews are required, you can schedule these during the initial interview.
For the Schedule and Prepare Client Interview assignment,
Provide the date, time, and venue for an initial interview to take place no later than Day 3 of Week 2. (“Venue” refers to whether the interview will take place in an office or residence, by phone, or by Web conference.)
Draft 20 interview questions that will help your client or clients assess their current financial situation and goals. 20 questions is a minimum; you will likely need to ask more questions to gain insight about your client’s financial condition and goals.
Identify any challenges or difficulties you anticipate in gathering specific types of information.
Explain your strategy for anticipating and overcoming these difficulties.
The Schedule and Prepare Client Interview assignment
Facetime interview with sister
Sister is in school full time and also has 2 kids.
Reference:
Week 4 Finanical Assignment to help with questions.
For the Personal Financial Plan and related assignments, you are required to contact a friend, co-worker, or relative willing to serve as your client for purposes of this assignment. This is done in the Week 1 Schedule and Prepare the Client Interview assignment in conformity with the following specifications:
The client must be someone from whom you can gain financial information and interview for goals, objectives, special problems, and net worth knowledge.
Therefore, the client must be willing to share personal financial information and be accessible by phone or in person. (You may change the client’s name in the financial plan report to maintain confidentiality if needed).
You must interview your client, gather data and information, analyze the current financial situation, and make helpful recommendations to achieve overall financial goals.
For the Week 4 Financial Plan assignment, you will incorporate knowledge from prior Personal Financial Planning courses and your book to create a comprehensive financial plan. Refer to the text for guidance on formatting the financial plan.
You must present the information in the order listed and as stated in the bulleted requirements below, include at least three tables, charts, or graphs (or any combination thereof) to illustrate quantitative data or to support the narrative.
In the financial plan,
Provide a financial plan-style cover page addressed to your client.
Develop a one-page executive summary of observations and recommendations. (Note that the executive summary should be one page and highlight the major aspects of the financial plan. It should be created last after the rest of the report is completed.)
Provide a one-page summary describing your role in the process of developing this financial plan. (Include descriptions of client relation and interaction, the research and analysis process [including assessment of risk], the development of the financial plan, and the delivery of the financial plan to the client.)
Develop a client profile and a summary of goals and assumptions.
Construct a cash flow analysis (a simple net cash flow evaluation: cash inflows minus cash outflows).
Construct a net worth analysis (a simple balance sheet for the client: assets minus liabilities = net worth).
Develop a tax analysis. (What can the client do to minimize taxes?)
Develop a retirement analysis. (Determine if client’s current investments and savings will be sufficient to sustain long-term retirement.)
Develop an insurance and risk management analysis. (Determine how much life insurance is needed to replace income and consider if any of the following needs to be covered: health and disability, long-term care, property and liability insurance, and umbrella insurance.)
Develop an investment analysis. (Include an identification of risk tolerance, an asset allocation analysis, and consideration of risk and return of current portfolio; what it should be and how the portfolio should be altered?)
Develop an estate planning analysis. (Consider all options to see if each is relevant to the client.)
Evaluate the impact of economic, political, and regulatory issues with regard to the financial plan.
Provide specialized analysis. (Be sure to include at least one of the following: educational funding, planning for special needs, refinancing scenarios, or saving for special problems.)
Provide an implementation and monitoring section.
Provide at least three substantive recommendations to help your client achieve financial goals. (The recommendations should be specific, measurable, attainable, relevant, and time-bound.)