Business Goal Setting Template - Mayport printable pdf download

Business Goal Setting Template - Mayport

Planning Template – Sample Goals

When

Goal

One year from

New Car

now

Cost:

$30,000 ($6,000 down payment required)

Source of funds:

• Already have $3,500 saved.

• Save the remaining $2,500 over the next year by saving approximately

$200 per month.

Investment plan for funds:

• Keep savings in cash. To segregate these funds, set up a “Car” savings

account in a high-yield online, FDIC-insured account.

Retirement in

Retire at age 70

20 years

Cost:

$2 million in savings so that I can withdraw 5% per year, equal to

$100,000. Together with my projected Social Security of $40,000 per year

(maximum benefit at age 70), I should conservatively net about $100,000 per year

after taxes, which should be sufficient to meet my living expenses.

Source of funds:

• Already have $325,000 saved. Need to add another $1,675,000.

• Add $15,000 per year to savings for 20 years. That will add $300,000.

• Account growth (at an 8% rate) over the 20 years should add the remainder

(approximately $1.4 million).

Investment plan for funds:

• For the first 15 years: 100% stocks.

•

For years 16-20: 75% stocks / 25% bonds

(25% bonds equals approximately 5 years of spending at $100,000/year)

Business Goal Setting Template - Mayport