Download Financial Planning Worksheet for Career Transition and more Study notes Financial Management in PDF only on Docsity! Financial Planning Worksheet for Career Transition STATEMENT OF NET WORTH ASSETS (Total Value) Cash on hand $ Checking Accounts $ Savings Accounts $ Certificates of Deposit $ Cash Value of Life Insurance $ U.S. Savings Bonds $ Mutual Funds/Money Market $ Stocks/Bonds $ College Funds $ 401(k)/403(b)/TSP $ Other (IRAs, etc.) $ Real Estate (Market Value) $ Home $ Rental Property $ Other (Vac Home/Trailer/Time Share) $ Personal Property Vehicles/Motorcycles/Boats $ Furniture $ Jewelry $ Other (Collectibles, etc.) $ TOTAL ASSETS $ LIABILITIES (Total Balance Due) Signature Loans $ Auto Loans or Leases $ Consolidation Loans $ Student Loans $ Military Exchange Credit Cards $ Department Store Credit Cards $ Other Credit Cards $ Aid Organization Loans (NMCRS ACS, AFAS, etc.) $ Other (Friends, Relatives, etc.) $ Advance/Over Payments $ Mortgage (Home) $ Home Equity Line of Credit (HELOC) $ Mortgage (Rental Property) $ TOTAL LIABILITIES $ NET WORTH Total Assets – Total Liabilities $ Name: Date: You’ll need the following items to fully prepare this worksheet: P Current LES (http://mypay.dfas.mil) P Other paycheck stubs or a listing of other sources of income P Current Credit Report (www.annualcreditreport.com) P Listing of current living expenses (mortgage or rent amount, food, childcare, entertainment, personal care, subscriptions, etc.) P Current bank and mortgage statements P Investment and retirement account statements P Pencil and Calculator P Current Bills (Monthly Amount and Total Balances Due) O Utility Bills O Phone Bills (Home/Cell) O Cable/Satellite O Internet O Credit cards O Car loans O Insurance payments O Personal loans O Student loans O Other debts *Note: Pay Entitlements are taxable. Allowance Entitlements are non-taxable. MONTHLY INCOME ENTITLEMENTS ACTUAL PROJECTED 1 PROJECTED 2 * Base Pay Basic Allowance for Housing Overseas Housing Allowance Basic Allowance for Subsistence (BAS) Family Separation Allowance (FSA) * Special Pay * Special Pay * Special Pay * Special Pay *Other Taxable Pay Other Non-taxable Pay (allowance) TOTAL MILITARY COMPENSATION (A) DEDUCTIONS ACTUAL PROJECTED 1 PROJECTED 2 ALLOTMENT ALLOTMENT ALLOTMENT ALLOTMENT ALLOTMENT Family SGLI (For Spouses) Servicemembers’ Group Life Insurance (SGLI) Uniform Services TSP MGIB FITW Filing Status Actual FICA (Social Security) FICA (Medicare) State Income Tax AFRH (Armed Forces Retirement Home) TRICARE Dental Plan (TDP) Advance Payments Overpayments TOTAL DEDUCTIONS (B) $ $ CALCULATE NET INCOME ACTUAL PROJECTED 2 PROJECTED 2 Service Member’s Take Home Pay (A-B) $ $ Service Member’s Other Earnings (less taxes) Spouse’s Earnings (less taxes) Child Support/Alimony (Received/Income) Other Income (e.g., SSI, Rental Income) ALLOTMENT ALLOTMENT ALLOTMENT ALLOTMENT ALLOTMENT Family SGLI (For Spouses) Servicemembers' Group Life Insurance (SGLI) Uniform Services TSP MGIB TRICARE Dental Plan (TDP) Advance Payments Overpayments MONTHLY NET INCOME $ $ $
