Executive Financial Plan Summary 1 8

6544 words 27 pages
Executive Financial Plan Summary
For Jim & Anne Dowler
Prepared by: Robert Lipovsky

I want to take this opportunity to thank you for reaching out to me. One of the first steps towards financial clarity and meeting your financial goals is to reach out to specialists who can identify your needs and financial position. I am pleased to help you get started on your journey and look forward to seeing you meet your goals!
Throughout this document, I will be using various numbers and concepts under the assumption that they represent your financial position. In truth, these numbers are meant to be fluid and may change with time depending on the course of events in your life. Reviewing the document carefully to understand the underlying concepts
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Appraisals for personal property are oftentimes costly. This is actually only a problem if you get a large number of items appraised.

Recommendation C: My third recommendation is you add an inflation rider to your policy.
The benefit of the inflation rider is that it increases your base policy by the amount needed to keep it on par with yearly inflation. It will automatically increase both coverage and the premium. It is also cheap at only $20 per year.
Similar to the increase in homeowners coverage, modest in its advantages. The $20 could go elsewhere.
Issue 5: Automobile Coverage
You have not had a review of your automobile coverage for four years. Looking at changes to your automobile policy can help us see areas where you are more at risk from financial loss. We currently see that improvement can be made to your base policy as well as how your deductible is structured. These issues and recommendations are ultimately to be addressed with your insurance agent; I am merely providing a perspective.
Recommendation A: I recommend that you raise your current base policy to double its current amount. Along with this, you will also raise your uninsured motorist’s coverage to match the amounts of the base policy.
The primary benefit of raising the base policy to double its current amount is you


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