PERSONAL FINANCIAL GOALS

Name: LAW THIAN HUAT (ANDREW)

No. Matric: GM03356

SHORT-TERM GOALS (0-1 year)

Status: Part time Working + Studying
Financial Planning Goal: To Balance Income and Expenses
Goal
Priority
Target
Date
Income:
Part-time Income + Bonus
(RM2500 + 500)
High
2008
Study Scholarship (Budget Mini)
Study Loan from Relatives
High
2008
High
2008
Expenses:
Clothing
High
2008
Other Living Expenses
Medium
2008
Room Rental
High
2008
Transportation
High
2008
Meal
High
2008
Utilities
High
2008
Telecommunication
High
2008
Medicine
Medium
2008
Parents
High
2008
Study Fees
High
2008
INTERMEDIATE GOALS (2-5 years)
Status: Part time Working + Studying
Financial Planning Goal: To Accumulate Wealth
Goal
Priority
Target
Date
Income:
Full-time Income (Salary) + Bonus
High
2009
Part-time Income (Tuition Fees)
High
2009
Room Rental (Bought a property and
High
2010
rent out 1-2 rooms)
Investment Income (e.g. interest,
Medium
2010
dividend-shares/unit trust, and EPF)
Expenses:
Start Family
Property Down Payment (RM10,000) &
Monthly Installment (RM800 X 48
months)
Car Down Payment & Monthly
Installment

Cost
Estimate(RM)
36,000
10,000
10,000
700
800
4,200
6,000
4,800
1,200
1,800
500
3,600
10,000

Cost
Estimate(RM)
96,000
24,000
8,400
-

Medium
High

2011
2009

48,400

Low

2010

Transportation
High
2009
6,000
Meal
High
2009
5,000
Utilities
High
2009
1,300
Telecommunication
High
2009
1,900
Clothing
High
2009
800
Medicine
High
2009
600
Parents
High
2009
3,600
Other Living Expenses
Medium
2010
800
Study Fees
High
2009
10,000
1 week Taiwan Vacation
High
2011
2,500
Medical Card (Insurance)
High
2010
1,800
Start a Retirement Fund
Medium
2012
Reduce Expenses
Medium
2011
2,400
LONG-TERMS GOALS (>6 years)
Status: Full Time + Part time Income + Personal Business Investment
Financial Planning Goal: To Grow the Wealth
Goal
Priority
Target
Cost
Date
Estimate(RM)
Income:
Full-time Income (Salary) + Bonus
High
98,000
Part-time Income (Tuition Fees)
High
30,000
Personal Business Income (e.g. open a
High
tuition centre)
Property Rental (rent out hold unit)
High
9,000
Investment Income (e.g. interest,
Medium
dividend-shares/unit trust, and EPF)
Expenses:
1st Property monthly Installment
2nd Property Down Payment & Monthly
Installment
Car Monthly Installment
Personal Business Initial Investment
Personal Business Operating Expenses
Transportation
Meal
Utilities
Telecommunication
Clothing
Medicine
Parents
Other Living Expenses
Take Shanghai Vacation
Retire at Age 62

High
Medium

?/year
?/year

Low
Medium
Medium
High
High
High
High
High
High
High
Medium
High
Medium

6,000
5,000
1,300
1,900
800
600
3,600
2,000
2,000
-