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FINANCES Smith Family by Mind Map: FINANCES
Smith Family
5.0 stars - 1 reviews range from 0 to 5

FINANCES Smith Family

Goals

Education

Dan college, Description, college, Amount, $51,000, Start Date, 2020, End Date, 2023, Inflation, 2.50%

Retirement

Retirement John and Josie, Description, Retirement, Amount, $250,000, Start Date, 2035, End Date, 2055, Inflation, 6.00%

Charitable, Description, Charity XY, Amount, $50,000, Start Date, 2040, End Date, 2050, Inflation, 4.00%

Legacy

Estate, Description, estate for kids, Amount, $2,000,000, Start Date, 2060, End Date, 2060, Inflation, 3.50%

Lifestyle

Travel stipend, Description, Travel, Amount, $15,000, Start Date, 2035, End Date, 2045, Inflation, 3.50%

Network

Family

Mrs. Josie Smith, Relationship, Spouse/Partner, Birthday, 12/10/1968

Mr. John Smith, Relationship, Client, Birthday, 04/08/1965

Mr. Dan Smith, Relationship, Son, Birthday, 04/17/2002, Description

Ms. Andy Smith, Relationship, Daughter, Birthday, 12/11/1985, Description

Advisors

Mr. X, Relationship, Tax Professional, Specialties, CPA

Assets

Income

Salary, Income Type, Payroll, Annual Amount, $300,000, Start Year, 2014, End Year, 2035, Inflation, 3.00%, Notes

Rental income, Income Type, Business, Annual Amount, $12,000, Start Year, 2014, End Year, 2035, Inflation, 3.00%, Notes

Teaching, Income Type, Social Security, Annual Amount, $60,000, Start Year, 2014, End Year, 2025, Inflation, 3.00%, Notes

Pension Teaching, Income Type, Pension, Annual Amount, $45,000, Start Year, 2035, End Year, 2065, Inflation, 4.50%, Notes

Rachel salary, Income Type, Payroll, Annual Amount, $90,000, Start Year, 2014, End Year, 2024, Inflation, 3.50%, Notes

Accounts

John ESPP, Tax Type, Taxable, Account Type, Brokerage Account, Applies to, John Smith, Account Value, $650,000, Cost Basis, $200,000, Last Update, 05/16/2014, Net Contribution, $0, Start Year, End Year, Inflation, 2.50%

Dan reg account, Tax Type, Taxable, Account Type, Brokerage Account, Applies to, Mr. Dan Smith, Account Value, $25,000, Cost Basis, $19,000, Last Update, 05/16/2014, Net Contribution, $5,000, Start Year, 2014, End Year, 2024, Inflation, 2.50%

Andy trust, Tax Type, Taxable, Account Type, Trust, Applies to, Ms. Andy Smith, Account Value, $35,000, Cost Basis, $27,000, Last Update, 04/18/2014, Net Contribution, $15,000, Start Year, 2014, End Year, 2035, Inflation, 3.00%

Inheritance Josie, Tax Type, Taxable, Account Type, Brokerage Account, Applies to, Mrs. Josie Smith, Account Value, $1,750,000, Cost Basis, $1,190,000, Last Update, 05/16/2014, Net Contribution, $50,000, Start Year, 2014, End Year, 2035, Inflation, 3.00%

Dan Trust account, Tax Type, Taxable, Account Type, Trust, Applies to, Household, Account Value, $80,000, Cost Basis, $60,000, Last Update, 05/16/2014, Net Contribution, $2,000, Start Year, 2014, End Year, 2019, Inflation, 2.50%

Joint account, Tax Type, Taxable, Account Type, Joint Account, Applies to, Household, Account Value, $500,000, Cost Basis, $325,000, Last Update, 05/16/2014, Net Contribution, $200,000, Start Year, 2014, End Year, 2035, Inflation, 2.50%

529 plan Dan, Tax Type, Tax Deferred, Account Type, Other, Applies to, Mr. Dan Smith, Account Value, $75,000, Cost Basis, $45,000, Last Update, 05/16/2014, Net Contribution, $15,000, Start Year, 2014, End Year, 2020, Inflation, 2.00%

John 401k current, Tax Type, Tax Deferred, Account Type, 401(k), Applies to, Household, Account Value, $115,000, Cost Basis, $75,000, Last Update, 07/01/2014, Net Contribution, $20,000, Start Year, 2014, End Year, 2035, Inflation, 3.00%

TD Ameritrade 401k rollover, Tax Type, Tax Deferred, Account Type, Rollover IRA, Applies to, Household, Account Value, $950,000, Cost Basis, $318,000, Last Update, 04/04/2014

Insurance

Life insurance John, Insurance Type, Life Insurance, Plan Type, Whole Life, Policy Owner, John Smith, Insured Party, John Smith, Carrier, XYZ, Policy Date, 05/01/2007, Policy Number, 123, Annual Premium, $0, Coverage Amount, $10,000,000, Survivor Benefit, $1,700,000, Est. Loan Value, $9,500,000, Current Surrender, $250,000, Est. Cash Value, $250000.0, Beneficiaries, Josie Smith, Beneficiaries Percentage, 0.00%

Property

House, Asset Category, Real Estate, Asset Type, Primary, Owner, Household, Current Value, $500,000, Cost Basis, $425,000, Last Updated, 04/07/2014, Acquisition Date, 04/01/2000

Liabilities

Josie's car, First Category Type, Loan, Loan Type, Personal, Last Category Type, Applies to, Josie Smith, Balance Due, $6,777, Initial Amount, $10,000, Last Updated, 04/04/2014, Interest Rate, 2.50%, Start Year, 2013, End Year, 2017, Payment Frequency, Monthly, Monthly Payment, $219

Mortgage, First Category Type, Loan, Loan Type, Personal, Last Category Type, Applies to, John Smith, Balance Due, $275,000, Initial Amount, $300,000, Last Updated, 05/16/2014, Interest Rate, 3.00%, Start Year, End Year, Payment Frequency, Annually, Payment, $0

AdvisingFees

John's Advising Fees, Blended Rate, 1%, Minimum, $0, Flat Fee, $0

NetWorthReport

John's Net Worth, Net Worth, $5,398,222

Overview

Exploration

Values, Foundation XY

Communication

Annual Review Meeting: 11/4/16, John Smith, In Person

Files

Space for notes