Wrigley Financial

8/19/2019 Wrigley Financial

1/13

Jeremy and Gina Delgado-Pritchett

Contact us:800 W Campbell RdRichardson, ! "#080$"%-88&-%'''

Edward BowiePresident()t* &0&

(bo+ie+rigleynancial*com

Jerry Pearson.anaging Director and C/P

Jpearson+rigleynancial*com

Kim Buiead C/P

1bui+rigleynancial*com


2/13

able o2 Contents

(ngagement etter33333333333333333333333333333***&

4tatement o2 /inancial Position*333333333333333333333*3**5

4tatement o2 6ncome and ()penses333333333333333333333*#

7sset iabilities and 9et Worth33333333333333333333*****3#

7nnual iing ()penses333*333333333**3333*3333333333**;

/inancial Ratios ()plained333333333333333333*33333333"

What is a C/P,,,,,,,,,3333333333333333333333333333*333$

6mportant /inancial Recommendations*3*333333333333333333$

4ources3333333333**333333333333333333333333**3***''


3/13

Dear .r* .rs* Delgado-Pritchett:

his letter is to conrm the terms o2 our agreement in regards to the nancial

serices +e +ill proide you*

Engagement Objectives:

e that in2ormation, and ma?erecommendations to you based on our analysis* his reie+ +ill be in line +ith yournancial goals and our goal is to proide you +ith recommendations to help you2ulll those goals*

Engagement Activities:

he rst actiity has already been met, as +e had a meeting and you hae proidedus +ith your nancial records* 9e)t, +e +ill reie+ and analy>e the in2ormationyou=e proided to proide you +ith the best recommendations +e deem possible*During this process +e may contact you +ith @uestions regarding the accuracy o2the data and alidity o2 the assumptions used* 72ter +e hae concluded ourrecommendations, +e +ill all meet again to present to you our analysis and proideyou +ith our recommendations on ho+ to achiee the goals you had mentioned tous*


4/13

ery truly yours,

6 hae read this engagement letter and agree to the in2ormation proided and theterms presented in the letter*

EEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE FClient=s name FDate


5/13


6/13

otal 7ssetsH #0I

otal iabilitesH '$I

9et WorthH &'I

his chart illustrates total assets, total liabilities and net +orth*

4tatement o2 6ncome and()penses

.r* .rs* Delgado-Pritchett4tatement o2 6ncome and ()penses 2or %0'5 and()pected 2or %0'#

&as' (n)ows

Jeremys 4alaryK$#,";0*

00

Ginas salaryK5',050*

00

DiidendL6nterest 6ncome K580*00

Tota* &as' (n)ows$1+,-".!/

!!

&as' Out)ows

0avingsDiidendL 6nterestReinestment K#;5*00

Jeremys 50'F? contributionsK&,;00*0

0

Ginas 50'F? contributionsK5,800*0

0Cash 4aings Contribution K",%00*0


7/13

0

Jeremys Roth ContributionsK',550*0

0

Tota* 0avings$1,-!/!

!

2ebt Payments

.ortgage PaymentK%%,"#%*

00

6nninti oanK#,&";*0

0

Jeep oanK%,880*0

0

Marley Daidson oan

K%,#%0*0

0

NN 9ational CCK%,&50*0

0

4ears CCK&,;;0*0

0

Jeremys 4tudent oanK&,&;0*0

0

Tota* 2ebt Payment$"-.../!

!

3ivings E45enses

CableK',550*0

0

7larm 4ystem K;;0*00

6nternetK',800*0

0

GasK5,550*0

0

CellphoneK',;%0*0

0

Water K$;0*00

(ntertainmentK5,800*0

0Child Care

K';,800*00

Mome RepairsK%,500*0

0

GroceriesK;,000*0

0

Dining


8/13

MobbiesK&,;00*0

0

Club DuesK',800*0

0

Dry Cleaning K',$%0*00

CharityK5,%00*0

0

andscapingK&,;00*0

0

.aidK5,800*0

0

Par?ing and olls K580*00

Tota* 3iving E45enses$-1"!/!

!

(nsurance Payments

i2e 6nsuranceK',550*0

0

7uto 6nsuranceK%,0';*0

0

Tota* (nsurance Payments $+-/!!

Ta4es otal a)es F/6C7 79D69C


9/13

CableH %I7larm 4ystemH 'I6nternetH &I

GasH "I

CellphoneH %I

WaterH 'I

(ntertainmentH "I

Child CareH %#IMome RepairsH 5I

GroceriesH $I

Dining


10/13

8ousing 7atio "+1/+

9

P66 '8$;

6nniti Payment 558 Jeep Payment %50

Marley Payment %'0NN 9ational Credit CardPayment '$#

4ears Credit Card Payment &0#

4tudent oan Payment %80

Joint .onthly 4alary ''500

Mousing Ratio % is a measurement o2 ho+ much monthly income is spent on housingand debt payments* Mousing ratio should be e@ual or less than &;I* our housingratio is &'*I, +hich is +ithin the recommended percentage*

Emergency Fund 7atio he (mergency /und Ratio is a measurement o2 ho+ long you can meet monthlynon- discretionary e)penses using current or li@uid assets* he goal 2or theemergency 2und is 2rom three to si) months* our (mergency /und Ratio is #*&;months, +hich meets this criteria*

2ebt toAssets 7atio

otal iabilities

&0%,5&"

+./1+9

otal 7ssets"$&,%

;"

he debt to asset ratio is indicator o2 nancial leerage* 6t represents the totalamount o2 debt to assets* he higher the ratio, the higher the leerage and nancialris? as +ell* our debt to asset ratio is &8*'&I* We +ould li?e this number to higherto sho+ more Qe)ibility and leerage*

'* 7 certied nancial planner FC/P is a pro2essional certied by the C/P Noard o2 4tandards and has a duciary responsibility* 7 C/P has duciary responsibility,+hich is e)tremely important* With duciary responsibility, a C/P must act in good2aith and put the best interest o2 the client aboe his or her o+n* o obtain the C/Pdesignation you must complete college or uniersity-leel course+or? through aprogram registered +ith C/P Noard and hae bachelor=s degree*


11/13

application 2or rene+al* he 2ee structures are 2ee only, 2ee based, commission onlyand 2ee-oOset*

Nased on the charts aboe renancing your home to a '# year home loan +ith &*&I interest rate saes K50,000* his is including the K&,#00 renancing costs thatcan be rolled into the loan* 7nother option is to renance to the &0 year loan butma?e e)tra principal payments to pay it oO early*

&*

Without po+er payments, interest you pay oer all your loans +ill be $'%&%*0"*

Mo+eer, +ith po+er payments, this interest +ill be $'0;50;*#/

it'out Power

Payments

it' Power Payments

PayoO ime '8 years ' month 7ug

%0&&

$ years " months /eb

%0%# otal paid $ 5%#"8$*0" $ 50885&*#

otal 6nterest $ '%&%*0" $ '0;50;*#

4o, you saed K';$5#*#" and time reduction 8 years ; months o2 payoO time*


12/13

5* he split limit policy o2 K#0?LK'00?LK#0? is Part 7 o2 the personal auto policy*K#0? is the minimum liability 2or each inBured person per accident, up to K'00? o2bodily inBury per accident and K#0? is 2or property damage per accident* he K#00deductible is the amount that you +ould be responsible 2or +hen an accident

occurs* 6ncreasing the deductible +ill lo+er the premium* With a net +orth o2 closeto hal2 a million dollars +e +ould adise you to raise the limits to lo+er your ris?*7nother option is buy umbrella insurance* 7 K' million umbrella insurance can bebought 2or about K&00-K500 2or a yr*

#* he /D6C is the /ederal Deposit 6nsurance Corporation* (ach depositor is insuredup to at least K%#0,000 per insured ban?* 4ince you are receiing a K800,000settlement +e recommend you spread the settlement oer 2our insured ban?s*Deposit the limit o2 K%#0,000 in three o2 the ban?s and the remaining K#0,000 inanother ban?* his secured you against loss due to a ban? 2ailure*

;* ou +ill need K#,"#8,'%%*0; in todays dollars to maintain your current li2estyle*

his is K'$,'$#,%%0*;' in 2uture dollars* ou +ill need to sae aggressiely to meetthese goals*

Fina* 7ecommendations

Ase Po+erpay to pay oO debts and increases net +orth* his +ill help moe to+ardsa higher debts to assets ratio*

Renance your home mortgage to '# year mortgage to sae signicantly* hesesaings can be put to+ard retirements*

Reduce maid, dining out and entertainment e)pense* 4aings in these ?ey +illreduce liing e)penses as a +hole*

Purchase a K' million umbrella policy to reduce ris? and liability to personal assets*


13/13

0ources

http:LL+++*>illo+*comLmortgage-calculatorLrenance-calculatorL

http:LL+++*ban?rate*comLicEidhomeEsmart-spendingEEglobalna
http://www.zillow.com/mortgage-calculator/refinance-calculator/http://www.bankrate.com/?ic_id=home_smart-spending__globalnavhttp://www.bankrate.com/?ic_id=home_smart-spending__globalnavhttp://www.zillow.com/mortgage-calculator/refinance-calculator/

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