Susan & David Example

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1 Personal Retirement Analysis for Susan & David Example Asset Advisors Example, LLC A Registered Investment Advisor 2430 NW Professional Drive Corvallis, OR IMPORTANT: The illustrations or other information generated by this report regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results and are not guarantees of future results.

2 Table of Contents Cash Flow Planning (text) - A1 2 Net Worth - A3 3 Cash Flow Needed vs Available Graph - B2 4 Cash Flow Illustration - B7 5 Asset Accounts (text) - C1 6 Account Summary - C3 7 Income Tax - Current Year - D3 8 Tax Summary - D6 9 Retirement Estimate Graph - F2 10 Retirement Capital Estimate - F3 11 Monte Carlo - F4 12 Page 1

3 Cash Flow Planning A1 This financial analysis has been prepared with the objective of illustrating your present and future cash flows, integrated with your assets and income taxes. Cash Flow Planning Cash flow planning is designed to account for all sources of income and expense, and to illustrate the impact that any surpluses or shortages might have on the ability of your assets to last through your life expectancy. This method of planning is sometimes referred to as an "optimized" approach. What do we mean by "Optimized" planning? Cash Flow Each year your income sources are compared to your annual expenses. Any surplus of spendable income is automatically added to your savings and investments starting in the first year. If there is a shortage of spendable income, the amount needed to make up the shortage is withdrawn from your asset accounts. This approach is intended to reflect what would happen if you are managing your funds in an optimal manner. Assets Every year your savings and investment accounts will have potential interest, dividends, capital gains or appreciation. The cash flow analysis makes the assumption that, unless otherwise indicated, the entire rate of return is reinvested into the account. This approach optimizes the potential growth of each asset account. Taxes are not charged to the earnings on the account, but instead are added to your personal expenses. Taxes Since income and FICA (Social Security) taxes can represent a substantial part of your annual expenses, the "optimized" planning approach carefully computes your tax burden every year. The analysis uses the actual IRS tax rate tables including annual adjustments for "indexing" the rate breakpoints and standard deductions. For high income taxpayers, itemized deductions and exemptions are phased out. Separate tax treatment is provided for dividends, capital gains, alternate minimum tax, the taxable portion of social security income and other areas where special treatment is required. The result is that, instead of showing a "guesstimate" of your annual taxes, the analysis provides a more accurate yearly indication of future potential taxes. Page 2

4 Net Worth Statement ASSETS Ordinary Interest Accounts: Susan David Joint / CP Trust/Oth. Total Checking accounts, cash $12,200 $12,200 Savings accounts 3,500 3,500 Money Market accounts 31,603 31,603 Certificate of Deposit 20,000 20,000 Gov't bonds, T Bills, Funds 22,000 22,000 Muni bonds, funds 25,000 25,000 Annuities (fixed, variable) 30,000 30,000 Insurance Cash Value, Dividends 12,450 2,850 15,300 Total $42,450 $28,350 $88,803 $159,603 Equity (Investment) Accounts: Stocks 15,000 45,429 60,429 Mutual Funds 242,417 2,745 29, ,225 Other ventures, businesses 24,600 24,600 Total $257,417 $2,745 $99,092 $359,254 Retirement Accounts: 401(k) accounts 93,500 93, (b), SEP, Simple 77,300 77,300 Roth accounts 16,000 16,000 Inherited IRAs 12,200 12,200 Total $105,700 $93,300 $199,000 Personal Use Assets: Personal property 15,000 15,000 Jewelry, furs 2,500 2,500 Autos 12,000 19,600 31,600 Total $27,000 $2,500 $19,600 $49,100 Real Estate Assets: Residence 307, ,000 Real Estate, REIT 5,750 5,750 Rental real estate 200, ,000 Total $312,750 $200,000 $512,750 Total Assets $746,797 $126,895 $407,495 $1,281,187 A3 LIABILITIES Susan David Joint / CP Trust/Other Total Residence mortgage ($272,000) ($272,000) Credit Cards (6,640) (6,640) Life insurance loans (2,500) (2,500) Rental real estate (118,000) (118,000) Total Liabilities ($9,140) ($390,000) ($399,140) NET WORTH $737,657 $126,895 $17,495 $882,047 Note: Assets held in a Revocable Trust are included in the grantors assets. Page 3

5 Cash Flow B2 The bars in the above graph represent the amounts available from... Earned income (wages & self employment) Pension plans and Social Security Misc - (inheritances, sale of residence, investment account systematic withdrawal plans or interest/dividends taken in cash, scheduled retirement account distributions or required minimum distribution amounts.) The line illustrates the annual expenses including... Personal living expenses Life insurance and other premiums Mortgage and debt repayment Planned deposits to investments and retirement accounts Miscellaneous expense items Taxes If income from various sources exceeds expenses, the excess is reinvested in savings and investment accounts. If expenses are greater than income, it is assumed that funds required to meet such excess expenses will be drawn from savings and investment accounts to make up the shortage. Page 4

6 Cash Flow Illustration B7 Ages Earned Income Scheduled Cash flow sources and Required Minimum Distributions Retire/Roth Accounts * Investment Accounts * Pension/ SocSec Other Income Total Sources Less Living Expense & Taxes Surplus (Shortage) $145,000 $763 $6,628 $152,391 ($141,204) $11, , , ,238 (146,103) 11, , ,301 (168,735) (3,434) , , ,373 (195,645) (16,272) , , ,425 (186,800) 2, ,742 1,030 10, ,942 (147,051) (43,109) ,524 1,095 9, ,918 (156,433) (50,515) ,164 31,829 9,775 42,768 (180,258) (137,490) ,238 32,466 10,262 43,965 (155,882) (111,917) ,317 59,179 82, ,960 (128,334) 14, ,402 60,363 84, ,169 (131,231) 14, ,592 61,570 86, ,544 (137,814) 19, ,194 62, , ,643 (123,937) 73, ,587 64,058 12, ,488 (151,267) (50,779) ,001 65,339 13, ,730 (160,900) (57,170) ,523 66,645 13, ,118 (168,815) (61,697) ,976 67,978 14, ,473 (173,912) (65,439) ,443 69, , ,025 (235,936) 99, ,046 70,724 99,770 (154,814) (55,044) ,587 72, ,726 (167,209) (64,483) ,291 73, ,873 (173,015) (67,142) ,980 75, ,034 (179,008) (69,974) ,742 76, ,296 (185,224) (72,928) ,578 78, ,664 (191,668) (76,004) ,490 79, ,138 (198,290) (79,152) ,356 81, ,597 (205,062) (82,465) ,279 82, ,144 (211,974) (85,830) ,079 84, ,601 (219,048) (89,447) ,907 86, ,120 (197,840) (64,720) ,752 87, ,689 (204,997) (68,308) ,417 89, ,113 (212,383) (72,270) ,058 47,335 99,393 (183,229) (83,836) ,388 48, ,669 (176,210) (74,541) ,638 49, ,885 (188,675) (84,790) B9 C10..C11a C4..C8 B10 B12, B12a B8 * Scheduled distributions, interest or dividends taken in cash or amounts taken to meet the IRS minimum distribution requirements. Page 5

7 Asset Accounts C1 Your assets are illustrated in this plan based on two major groups, Personal Accounts and Tax Deductible Retirement accounts. Within these groups, the assets are further divided as described below. Personal Accounts: Fully Taxable: These are savings and investments that earn interest or dividends which are fully taxable at ordinary income rates. Included in this category are savings accounts, certificates of deposit, money market funds and accounts, bonds, notes and mortgages, etc. Tax-Deferred: Some assets allow you to accumulate money without current taxation on interest or other returns. The most common are fixed or variable annuities issued by insurance companies. Any illustration of an annuity account is hypothetical, and does not represent any specific product or underlying investment accounts and is not intended to project or predict investment results. The variable nature of a variable annuity will affect not only the investment returns, but will also affect the cash value and death benefits of the annuity. The annuity could result in zero or negative return, depending on the performance of the underlying investments and the terms of the annuity contract. Tax-Free: Interest earned on certain bonds issued by federal, state or local municipalities are exempt from federal and in some cases state income tax. These are referred to as "tax exempt" securities and may be purchased individually or as muni bond investment trusts or mutual funds. Equity and Other: Assets which receive part or all of their return in the form of appreciation and qualify for special capital gains treatment on the profits would be included in this category. Such assets include: stocks, equity mutual funds, real estate, business interest, etc. Tax Deductible Retirement Accounts: This includes any account that is treated by the IRS as qualified for special tax-deferral or deduction. IRA 401(k) Keogh or SEP TSA SIMPLE 401(k) and SIMPLE IRA Profit Sharing Roth IRA accounts Roth 401(k) Individual Retirement Accounts. Corporate thrift or savings plans. Retirement plans for self employed individuals. Tax sheltered annuity plans for employees of 403(b) tax exempt organizations. Employer sponsored plans. Corporate plans for employee profit sharing. (Tax-free growth). Tax-free after-tax personal contributions, pre-tax company additions. These accounts generally allow for pre-tax contributions and tax deferred earnings. When funds are withdrawn from these accounts the entire amount is taxable at the ordinary tax rate. (Roth accounts use after tax contributions and tax free accumulation and withdrawal.) Not an Investment Offer: This is not an offer to sell or a solicitation of an offer to buy any security. Such offer would be accompanied by a prospectus or other offering materials. IMPORTANT: The projections or other information generated by Money Tree regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results and are not guarantees of future results. Page 6

8 Account Summary C3 Ages Taxable Equity Tax Tax Retirement accounts Roth IRAs Account & Other Free Deferred Susan David Susan David 2.44% 7.45% 5.70% 7.25% 6.00% 6.50% 7.50% 4.00% Begin. Year Account Totals $47,303 $350,004 $25,000 $30,000 $105,700 $77,300 $16,000 $651, , ,649 26,425 32, ,655 89,162 19, , , ,158 27,931 34, , ,000 23, , , ,513 29,523 37, , ,883 27, , , ,532 31,206 39, , ,886 31, , , ,601 32,985 42, , ,089 35,959 1,041, ,866 34,865 45, , ,650 37,396 1,082, ,447 36,852 48, , ,832 38,891 1,118, ,359 38,953 52, , ,676 40,446 1,050, ,446 41,173 56, , ,225 42,063 1,003, , ,181 43,520 60, , ,525 43,744 1,083, , ,996 46,001 64, , ,624 45,493 1,169, , ,918 48,623 69, , ,185 47,312 1,257, , ,160 51,395 73, , ,587 49,203 1,396, ,117 54,325 78, , ,789 51,170 1,402, ,460 57,422 82, , ,745 53,216 1,401, ,824 60,695 87, , ,404 55,344 1,394, ,724 64,155 92, , ,710 57,557 1,383, , ,715 67,812 98, , ,659 59,858 1,539, ,605 71, , , ,133 62,251 1,543, ,697 75, , , ,127 64,740 1,537, ,488 80, , , ,577 67,329 1,526, ,540 84, , , ,413 70,021 1,510, ,443 89, , , ,560 72,821 1,488, ,761 94, , , ,937 75,733 1,460, ,086 99, , , ,459 78,761 1,424, , , , , ,158 81,910 1,381, , , , , ,963 85,185 1,330, , , , , ,800 88,591 1,270, , , , , ,595 92,134 1,230, , , , , ,272 95,818 1,182, , , , , ,953 99,650 1,125, , , , , ,635 1,048, , , , , , , , , , , ,587 C4 C5 C7 C8 C10,C10b...e C10a, C10b...e C11 C11a Note: Rates shown above are for first year only. Refer to account reports for future year rates. Page 7

9 Income Tax - Current Year The following calculations give an idea of the amount of taxes you might pay based on the income and asset information provided. These amounts are approximations only and the actual tax amounts may be higher or lower than illustrated. INCOME: Salaries and wages Interest Dividends* Schedule C (self employment) Schedule D (net gain/loss) Schedule E (passive gain/loss) Pension income & retirement distributions GROSS INCOME Gross $120,000 5,050 2,593 25,000 2,560 3, Taxable $120,000 1,450 2,593 25,000 2,560 3, $155,648 D3 B9 C4..C8 C6a B9 C6 a D9 B10 Adjustments: Retirement plan deposits - Susan Retirement plan deposits - David Self Employment FICA ADJUSTED GROSS INCOME 3,532 ($5,200) (3,300) (1,766) $145,382 C10-C10e D15 Itemized Deductions: Mortgage interest Charitable contributions Medical expenses Property taxes State taxes Gross $11,545 2,000 5,000 6,140 10,284 Allowed $11,545 2,000 6,140 10,284 D10 TAXABLE INCOME Itemized deductions $29,969 or Standard deductions $12,600 Personal exemptions ( 4 ) TAX SUMMARY: Federal Income Tax $15,925 FICA (Social Security) & HI Tax 12,712 Other Taxes or (credits) (200) State Income Tax 10,284 TOTAL TAXES Your combined federal & state marginal tax bracket is %. Your total taxes equal % of your Adjusted Gross Income, and 38.95% of your Taxable income. *Dividend and Capital Gains taxed marginally at 15.00%. ($29,969) ($16,000) $99,413 $38,722 D11 D7 Page 8

10 Tax Summary D6 Ages Federal Income Tax Federal Income Tax Amounts Additional AMT Tax Federal Credits Early distr. & other tax Total Fed. Income Tax State Tax Additional State Tax or (credits) FICA and HI Tax $15,925 ($200) $15,725 $10,944 ($660) $12,712 $38, ,411 17,411 11,556 (660) 13,093 41, ,736 19,736 12,495 (660) 14,298 45, ,160 23,160 13,475 (495) 14,727 50, ,504 25,504 14,424 (495) 15,599 55, ,655 7,655 7,201 (495) 7,094 21, ,186 11,186 9,504 (330) 7,307 27, ,733 1,733 8,558 (330) 9, ,701 (330) 8, (330) (330) ,912 1,912 2,886 (330) 4, ,903 4,903 5,552 (330) 10, ,722 6,722 6,853 (330) 13, ,109 10,109 9,361 (330) 19, ,046 13,046 10,467 (330) 23, ,776 13,776 10,826 (330) 24, ,969 9,451 64,420 29,543 (330) 3,504 97, ,922 5,922 6,423 (330) 12, ,833 10,833 9,759 (330) 20, ,901 11,901 10,196 (330) 21, ,984 12,984 10,646 (330) 23, ,106 14,106 11,114 (330) 24, ,266 15,266 11,600 (330) 26, ,422 16,422 12,091 (330) 28, ,545 17,545 12,579 (330) 29, ,603 18,603 13,079 (330) 31, ,616 19,616 13,587 (330) 32, ,942 17,942 12,350 (330) 29, ,722 18,722 12,765 (330) 31, ,487 19,487 13,187 (330) 32, ,099 16,099 10,234 (165) 26, ,493 8,493 5,185 (165) 13, ,246 13,246 7,046 (165) 20, D8 D12 D13, D14 D17 D17 D15 Total Taxes Page 9

11 Retirement Estimate F2 As inflation increases the amount of income needed for your standard of living, there is the potential need to draw increasing amounts out of savings, investments and retirement accounts. The graph shows how long your capital might last. The objective is to assure that your capital is properly managed so that it will last at least until your life expectancy. If the capital is depleted before your need for income has ceased, then you will become dependent on your pensions, Social Security, relatives or public sources. If there is capital remaining when your need for income stops then the remaining capital is available for your heirs. The line allows you to visualize the annual expenses as compared to your capital accounts. If the bars dip below the "0" level on the graph, it indicates that you have consumed all your savings, investment, and retirement accounts, and your spending requirements have caused a "deficit" spending situation - a need for funds where none exists. Page 10

12 Retirement Capital Estimate F3 Ages * Begin. Yr. Account Totals Annual Expenses Incl. Tax Earned Income Income and Capital Distributions ** Retirement Acct Distr. ** Investment Acct Distr. Pensions/ Soc Sec Other Inc. & St. Opt. Annual Surplus Ending Year Account Totals $651,307 ($141,204) $145,000 $763 $6,628 $11,187 $727, ,278 (146,103) 149, ,078 11, , ,769 (168,735) 164, , , ,749 (195,645) 169, ,272 9, , ,408 (186,800) 180, ,373 2,625 1,041, ,041,860 (147,051) 92,742 1,030 43,109 10,170 1,082, ,082,065 (156,433) 95,524 1,095 50,515 9,299 1,118, ,118,663 (180,258) 1, ,490 31,829 9,775 1,050, ,050,343 (155,882) 1, ,917 32,466 10,262 1,003, ,003,088 (128,334) 1,317 59,179 82,464 14,626 1,083, ,083,411 (131,231) 1,402 60,363 84,404 14,938 1,169, ,169,212 (137,814) 9,592 61,570 86,382 19,730 1,257, ,257,075 (123,937) 10,194 62, ,647 73,706 1,396, ,396,787 (151,267) 23,587 51,018 64,058 12,843 1,402, ,402,117 (160,900) 25,001 57,113 65,339 13,391 1,401, ,401,351 (168,815) 26,523 61,701 66,645 13,949 1,394, ,394,146 (173,912) 25,976 65,443 67,978 14,519 1,383, ,383,231 (235,936) 27,443 69, ,244 99,089 1,539, ,539,283 (154,814) 29,046 55,055 70,724 1,543, ,543,482 (167,209) 30,587 64,489 72,139 1,537, ,537,631 (173,015) 32,291 67,148 73,582 1,526, ,526,872 (179,008) 33,980 69,981 75,054 1,510, ,510,742 (185,224) 35,742 72,935 76,554 1,488, ,488,711 (191,668) 37,578 76,012 78,086 1,460, ,460,216 (198,290) 39,490 79,160 79,648 1,424, ,424,710 (205,062) 41,356 82,474 81,241 1,381, ,381,640 (211,974) 43,279 85,839 82,865 1,330, ,330,435 (219,048) 45,079 89,455 84,522 1,270, ,270,464 (197,840) 46,907 64,730 86,213 1,230, ,230,445 (204,997) 48,752 68,319 87,937 1,182, ,182,297 (212,383) 50,417 72,280 89,696 1,125, ,125,325 (183,229) 52,058 84,181 47,335 1,048, ,048,731 (176,210) 53,388 74,541 48, , ,209 (188,675) 54,638 84,041 49, , , ,587 B8 B9 C10...C10e C4...C8 B10 B12, B12a *Note - 1 = Susan's life expectancy age. 2 = David's life expectancy age. **Investment and Retirement distributions include withdrawals from account totals to satisfy "Income needed" shortages from Cash Flow report. C3a Page 11

13 Monte Carlo Monte Carlo Simulation illustrates possible variations in growth and/or depletion of retirement capital under unpredictable future conditions. The simulation introduces uncertainty by fluctuating annual rates of return on assets. The graph and related calculations do not presuppose or analyze any particular investment or investment strategy. This long-term hypothetical model is used to help show potential effects of market volatility and possible effects on your financial future. This is not a projection, but an illustration of uncertainty. The simulations begin in the current year and model potential asset level changes over time. Included are all capital assets, both tax advantaged and taxable, all expenses, including education funding if applicable, pension benefits and Social Security benefits. Observing results from these large number of simulations may offer insight into the shape, trends and potential range of future retirement plan outcomes under volatile market conditions. Results from 10,000 Monte Carlo Simulations: Original Retirement Capital estimate $890,587 Percentage of results above zero* Minimum (worst case) result Average Monte Carlo result $981,327 Percentage with $ remaining at Susan's age 81 Maximum Monte Carlo result $0 $6,661,635 Percentage with $ remaining at Susan's age 86 Percentage with $ remaining at Susan's age 76 *Percent of times money is remaining at last age shown. 80% 99% 100% 100% F4 The bold line is the estimated retirement capital value over time using fixed rates. Annual rate of return of 6.58% in the original retirement estimate varied from 5.77% to 7.18% based on portfolio changes over time. This simulation used a 4.25% standard deviation to create ten thousand sets of normally distributed random rates of return based on the annual rates of return in the original estimate (95% of the rates fall between -2.73% and 15.68%). A standard deviation rate of 2.00% was applied to the inflation rate used on personal expenses. The original capital estimate indicated a possibility of having $890,587 in assets remaining at last life expectancy. Monte Carlo simulation, using 10,000 trials of the same assets, income and expenses, resulted in a 80% probability of having funds remaining at last life expectancy, and an average amount of $981,327 remaining. The Monte Carlo illustration above points out the uncertainty of future retirement capital outcomes. It is important that you return regularly for a review of your goals and financial condition, in order to assure that appropriate periodic adjustments are made to your financial affairs. IMPORTANT: The projections or other information generated in this report regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment products or results and are not guarantees of future results. Results may vary with each report and over time. Results of this simulation are neither guarantees nor projections of future results. Information is for illustrative purposes only. Do not rely on this report to predict actual performance of any investment or investment strategy. Page 12

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