Your Position
| Current Coverage | N/A |
|---|---|
| Annual Income | $3,300,000 |
| Income Until Retirement | N/A |
Your Financial Gaps
Project Timeline
November 15, 2023
Step 1
Complete initial financial assessment and identify priority actions.
January 30, 2024
Step 2
Finalize the customized financial plan.
March 15, 2024
Step 3
Begin implementation of savings and insurance strategies.
July 15, 2024
Step 4
Review progress and adjust the financial plan as necessary.
Your Financial Gaps
Liquidity Gap
-$750,000
Available: $0
3mo Expenses: $750,000
Retirement Gap
$75,000,000
Additional needed
Death Protection
$30,000,000
Coverage: $0
Disability Gap
$250,000
Coverage: $0
Case Study: Meet Robert
- Government employee for 20+ years
- Father of three (two in university)
- Secured a JMD 1.2M loan for a new venture
- 2024: Diagnosed with prostate cancer
- Policy paid out, treatment funded, family secured
T’Aundra Moncrieffe-Blair is currently facing significant financial gaps including a liquidity gap of JMD 750,000, a retirement gap of JMD 75,000,000, and a death protection gap of JMD 30,000,000. As a married individual with family security as a top priority, T’Aundra needs a strategic financial plan to address these challenges and secure her family’s future.
- Establish an Emergency Fund – Create a savings plan to establish an emergency fund equivalent to three months of expenses, approximately JMD 750,000, to cover unexpected financial needs.
- Retirement Savings Strategy – Develop a retirement savings strategy to help accumulate the targeted retirement fund of JMD 75,000,000, leveraging pension contributions and additional investments.
- Life Insurance Coverage – Explore life insurance options to secure JMD 30,000,000 in coverage, ensuring financial protection for family and dependents.
- Initial Assessment – Conduct a comprehensive review of current financial status and identify key areas for improvement.
- Financial Plan Development – Design a personalized financial plan addressing savings, retirement, and insurance needs.
- Implementation and Monitoring – Implement the financial plan and establish regular monitoring to track progress and make adjustments as needed.
Investment details to be determined