Harry & Sally - Wayfinder · PDF file...

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  • 21/10/2015

    1

    Photo by MIKI Yoshihito (´・ω・) - Creative Commons Attribution License http://www.flickr.com/photos/7940758@N07 Created with Haiku Deck

    Mike Hague From our files:

    Harry & Sally

    Photo by Marion Doss - Creative Commons Attribution-ShareAlike License http://www.flickr.com/photos/7337467@N04 Created with Haiku Deck

  • 21/10/2015

    2

    Photo by Jack Amick - Creative Commons Attribution-NonCommercial License http://www.flickr.com/photos/20909379@N00 Created with Haiku Deck

    Photo by Duncan Rawlinson - @thelastminute - Duncan.co - Creative Commons Attribution-NonCommercial License http://www.flickr.com/photos/44124400268@N01 Created with Haiku Deck

  • 21/10/2015

    3

    Photo by _jjph - Creative Commons Attribution-NonCommercial-ShareAlike License http://www.flickr.com/photos/23849931@N08 Created with Haiku Deck

    •People •Pounds •Planning

  • 21/10/2015

    4

    1 Establish and

    define the client- planner

    relationship

    2 Gather client data

    including goals

    3 Analyse and

    evaluate your financial position

    4 Develop and

    present Financial Planning

    5 Implement the

    Financial Planning recommendations

    6 Monitor the

    Financial Planning

    recommendations

    1 What do you

    want to achieve?

    2 Where are you now?

    3 Analysis and projections

    4 What

    alternatives should we consider?

    5 Implement

    the planning

    6 Monitor,

    evaluate and review over time

  • 21/10/2015

    5

    Objectives Current Position Analysis and projections

    Develop Action Plan

    Implementation Review

  • 21/10/2015

    6

    Three wishes (Assumptions)

    • Harry and Sally are in a “steady state.”

    • FCA return assumptions turn out to be real.

    • Tax etc. tomorrow is the same as tax etc. today

    Photo by Sebastiaan ter Burg - Creative Commons Attribution-ShareAlike License http://www.flickr.com/photos/31013861@N00 Created with Haiku Deck

  • 21/10/2015

    7

    What needs to happen?

    What other information do you

    need?

    What do they want to achieve?

    Objectives Current Position

    Analysis and projections

    Develop Action Plan

    Implementation Review

    Objectives Current Position Analysis and projections

    Develop Action Plan

    Implementation Review

    Assets House, joint tenants, £400,000 Cash ISAs £20,000 each. Money from time of house move and business start up. Put here “just in case” General chattels – not a lot really Equal Shareholding in AlphaOmega Ltd No pensions other than the state pension entitlement

    Liabilities None after this month’s mortgage payment

    Income Salary £20,000 each Dividends – regularly £10,000 each plus ad hoc for kids etc.

    Expenditure Been difficult to pin down but seems to be £40,000 pa

  • 21/10/2015

    8

    Objectives Current Position Analysis and projections

    Develop Action Plan

    Implementation Review

    Balance sheet

    Assets Cash at bank £200,000 Debtors £300,000 Fixed Assets £30,000

    Liabilities Trade Creditors £250,000 Corporation tax £20,000

    AlphaOmega

    Profit Regularly £100,000 pa

    Objectives Current Position Analysis and projections

    Develop Action Plan

    Implementation Review

    Income Harry

    Salary £20,000

    Dividend £10,000

    State Pension

    Sally

    Salary £20,000

    Dividend £10,000

    State Pension

    Total Income £60,000

    Expenditure Tax estimate

    Harry

    Salary/pension £1,880

    Dividend £375

    Sally

    Salary/pension £1,880

    Dividend £375

    General Living Costs £40,000 Total Expenditure £44,510

    Surplus (shortfall) £15,490

    Harry Sally Joint Total House £400,000 £400,000

    Savings £20,000 £20,000 £40,000

    Business Shares £130,000 £130,000 £260,000

    £150,000 £150,000 £400,000 £700,000

  • 21/10/2015

    9

    Objectives Current Position Analysis and projections

    Develop Action Plan

    Implementation Review

    Age 50 51 52 53 54 55 56 57 58 59 60

    Income

    Harry

    Salary £20,000 £20,000 £20,000 £20,000 £20,000 £20,000 £20,000 £20,000 £20,000 £20,000 £20,000

    Dividend £10,000 £10,000 £10,000 £10,000 £10,000 £10,000 £10,000 £10,000 £10,000 £10,000 £10,000

    State Pension

    Sally

    Salary £20,000 £20,000 £20,000 £20,000 £20,000 £20,000 £20,000 £20,000 £20,000 £20,000 £20,000

    Dividend £10,000 £10,000 £10,000 £10,000 £10,000 £10,000 £10,000 £10,000 £10,000 £10,000 £10,000

    State Pension

    Total Income £60,000 £60,000 £60,000 £60,000 £60,000 £60,000 £60,000 £60,000 £60,000 £60,000 £60,000

    Expenditure

    Tax estimate

    Harry

    Salary/pension £1,880 £1,880 £1,880 £1,880 £1,880 £1,880 £1,880 £1,880 £1,880 £1,880 £1,880

    Dividend £375 £375 £375 £375 £375 £375 £375 £375 £375 £375 £375

    Sally

    Salary/pension £1,880 £1,880 £1,880 £1,880 £1,880 £1,880 £1,880 £1,880 £1,880 £1,880 £1,880

    Dividend £375 £375 £375 £375 £375 £375 £375 £375 £375 £375 £375

    General Living Costs £40,000 £40,000 £40,000 £40,000 £40,000 £40,000 £40,000 £40,000 £40,000 £40,000 £40,000

    Total Expenditure £44,510 £44,510 £44,510 £44,510 £44,510 £44,510 £44,510 £44,510 £44,510 £44,510 £44,510

    Surplus (shortfall) £15,490 £15,490 £15,490 £15,490 £15,490 £15,490 £15,490 £15,490 £15,490 £15,490 £15,490

    Objectives Current Position Analysis and projections

    Develop Action Plan

    Implementation Review

    Age 50 51 52 53 54 55 56 57 58 59 60

    Income

    Harry

    Salary £20,000 £20,000 £20,000 £20,000 £20,000 £20,000 £20,000 £20,000 £20,000 £20,000 £20,000

    Dividend £10,000 £10,000 £10,000 £10,000 £10,000 £10,000 £10,000 £10,000 £10,000 £10,000 £10,000

    State Pension

    Sally

    Salary £20,000 £20,000 £20,000 £20,000 £20,000 £20,000 £20,000 £20,000 £20,000 £20,000 £20,000

    Dividend £10,000 £10,000 £10,000 £10,000 £10,000 £10,000 £10,000 £10,000 £10,000 £10,000 £10,000

    State Pension

    Total Income £60,000 £60,000 £60,000 £60,000 £60,000 £60,000 £60,000 £60,000 £60,000 £60,000 £60,000

    Expenditure

    Tax estimate

    Harry

    Salary/pension £1,880 £1,880 £1,880 £1,880 £1,880 £1,880 £1,880 £1,880 £1,880 £1,880 £1,880

    Dividend £375 £375 £375 £375 £375 £375 £375 £375 £375 £375 £375

    Sally

    Salary/pension £1,880 £1,880 £1,880 £1,880 £1,880 £1,880 £1,880 £1,880 £1,880 £1,880 £1,880

    Dividend £375 £375 £375 £375 £375 £375 £375 £375 £375 £375 £375

    General Living Costs £40,000 £40,000 £40,000 £40,000 £40,000 £40,000 £40,000 £40,000 £40,000 £40,000 £40,000

    Total Expenditure £44,510 £44,510 £44,510 £44,510 £44,510 £44,510 £44,510 £44,510 £44,510 £44,510 £44,510

    Surplus (shortfall) £15,490 £15,490 £15,490 £15,490 £15,490 £15,490 £15,490 £15,490 £15,490 £15,490 £15,490

  • 21/10/2015

    10

    £36,400

    £53,134

    £70,208

    £87,631

    £105,408

    £123,548

    £142,058

    £160,945

    £180,217

    £199,882

    £219,948

    £0

    £50,000

    £100,000

    £150,000

    £200,000

    £250,000

    50 51 52 53 54 55 56 57 58 59 60

    Closing Capital

    Objectives Current Position Analysis and projections

    Develop Action Plan

    Implementation Review

    Objectives Current Position

    Analysis and projections

    Develop Action Plan

    Implementation Review

    Age 60 61 62 63 64 65 66 67 68

    Income

    Harry

    Salary £20,000

    Dividend £10,000

    State Pension £7,865 £7,865

    Sally

    Salary £20,000

    Dividend £10,000

    State Pension £7,865 £7,865

    Total Income £60,000 £0 £0 £0 £0 £0 £0 £15,730 £15,730

    Expenditure

    Tax estimate

    Harry

    Salary/pension £1,880 £0 £0 £0 £0 £0 £0 £0 £0

    Dividend £375 £0 £0 £0 £0 £0 £0 £0 £0

    Sally

    Salary/pension £1,880 £0 £0 £0 £0 £0 £0 £0 £0

    Dividend £375 £0 £0 £0 £0 £0 £0 £0 £0

    General Living Costs £40,000 £40,000 £40,000 £40,000 £40,000 £40,000 £40,000 £40,000 £40,000

    Total Expenditure £44,510 £40,000 £40,000 £40,000 £40,000 £40,000 £40,000 £40,000 £40,000

    Surplus (shortfall) £15,490 -£40,000 -£40,000 -£40,000 -£40,000 -£40,000 -£40,000 -£24,270 -£24,270

  • 21/10/2015

    11

    Objectives Current Position

    Analysis and projections

    Develop Action Plan

    Implementation Review

    Closing Capital

    Objectives Current Position