The Financial Plan Answers

Based on the spreadsheet below, which of the following is a true statement?

Mariah is single and has a monthly disposable income of $3,200. Her monthly cash outflow is approximately $2,800. Mariah includes contributions to a retirement plan and money for investments as part of her cash outflow. She has car insurance and a life insurance policy. Mariah has saved $15,000, but wishes to use $10,000 for a down payment on a house. She has also purchased furnishings for a house, which she has in the spare bedroom of her apartment. Mariah hires a financial planner to examine her money management, and he determines that her plan needs work. What part of Mariah’s financial plan would he encourage her to work on and why?

Planning for the possiblity that your home might get struck by lightning and catch on fire is part of a plan for _____.

What should be included in a financial plan to protect assets?

Which of the following would not be listed under cash outflows in a financial plan?