Sam and Sue Johnson - raymondjames.com · 10/31/2016 Prepared for : Sam and Sue Johnson Company: Raymond James Prepared by: Jim Zientara, MBA, CIMA Page 1 of 31 The return assumptions

Financial Goal Plan

Sam and Sue Johnson

October 31, 2016

Prepared by:

Jim Zientara, MBA, CIMA

Raymond James11009 Gatewood Drive

Suite 101Lakewood Ranch, FL 34211

(941) 750-6818 | [email protected]://raymondjames.com/jz

Securities offered through Raymond James Financial Services, Inc., member FINRA/SIPC. Raymond James is not affiliated with any other entities listed herein.

Table Of Contents

IMPORTANT DISCLOSURE INFORMATION 1 - 5

Executive Summary

Executive Summary 6 - 12

Summary of Goals and Resources

Personal Information and Summary of Financial Goals 13 - 14

Current Financial Goals Graph 15

Net Worth Summary - All Resources 16

Resources Summary 17 - 18

Risk and Portfolio Information

Risk Assessment 19

Results

Results - Current and Recommended 20 - 23

Worksheet Detail - Bear Market Test 24 - 25

Worksheet Detail - Social Security Maximization 26 - 27

Glossary 28 - 31

IMPORTANT DISCLOSURE INFORMATION

10/31/2016

Prepared for : Sam and Sue Johnson Company: Raymond James Prepared by: Jim Zientara, MBA, CIMA

Page 1 of 31

The return assumptions in Goal Planning & Monitoring are not reflective of any specificproduct, and do not include any fees or expenses that may be incurred by investing inspecific products. The actual returns of a specific product may be more or less than thereturns used in Goal Planning & Monitoring. It is not possible to directly invest in an index.Financial forecasts, rates of return, risk, inflation, and other assumptions may be used as thebasis for illustrations. They should not be considered a guarantee of future performance or aguarantee of achieving overall financial objectives. Past performance is not a guarantee or apredictor of future results of either the indices or any particular investment.

IMPORTANT: The projections or other information generated by Goal Planning & Monitoringregarding the likelihood of various investment outcomes are hypothetical in nature, do notreflect actual investment results, and are not guarantees of future results.

Goal Planning & Monitoring results may vary with each use and over time.

Information that you provided about your assets, financial goals, and personal situation arekey assumptions for the calculations and projections in this Report. Please review theReport sections titled "Personal Information and Summary of Financial Goals", "CurrentPortfolio Allocation", and "Tax and Inflation Options" to verify the accuracy of theseassumptions. If any of the assumptions are incorrect, you should notify your financialadvisor. Even small changes in assumptions can have a substantial impact on the resultsshown in this Report. The information provided by you should be reviewed periodically andupdated when either the information or your circumstances change.

Information Provided by You

Goal Planning & Monitoring Assumptions and Limitations

All asset and net worth information included in this Report was provided by you or yourdesignated agents, and is not a substitute for the information contained in the officialaccount statements provided to you by custodians. The current asset data and valuescontained in those account statements should be used to update the asset informationincluded in this Report, as necessary.

Assumptions and Limitations

Goal Planning & Monitoring offers several methods of calculating results, each of whichprovides one outcome from a wide range of possible outcomes. All results in this Reportare hypothetical in nature, do not reflect actual investment results, and are not guaranteesof future results. All results use simplifying assumptions that do not completely oraccurately reflect your specific circumstances. No Plan or Report has the ability to accuratelypredict the future. As investment returns, inflation, taxes, and other economic conditionsvary from the Goal Planning & Monitoring assumptions, your actual results will vary(perhaps significantly) from those presented in this Report.

All Goal Planning & Monitoring calculations use asset class returns, not returns of actualinvestments. The projected return assumptions used in this Report are estimates based onaverage annual returns for each asset class. The portfolio returns are calculated byweighting individual return assumptions for each asset class according to your portfolioallocation. The portfolio returns may have been modified by including adjustments to thetotal return and the inflation rate. The portfolio returns assume reinvestment of interestand dividends at net asset value without taxes, and also assume that the portfolio has beenrebalanced to reflect the initial recommendation. No portfolio rebalancing costs, includingtaxes, if applicable, are deducted from the portfolio value. No portfolio allocation eliminatesrisk or guarantees investment results.

Goal Planning & Monitoring does not provide recommendations for any products orsecurities.


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Asset Class NameProjected Return

AssumptionProjected Standard

Deviation

Cash & Cash Alternatives 1.00% 2.40%

Investment Grade Long MaturityFixed Income

4.10% 14.10%

Investment Grade IntermediateMaturity Fixed Inc

4.00% 5.30%

Investment Grade Short MaturityFixed Income

3.60% 3.40%

Non-Investment Grade FixedIncome

5.40% 9.70%

Non-U.S. Fixed Income 3.70% 9.80%

Global Fixed Income Strategies 3.80% 6.40%

Multi-Sector Fixed IncomeStrategies

4.72% 4.60%

Fixed Income Other 3.00% 8.00%

U.S. Large Cap Blend 6.60% 18.10%

U.S. Large Cap Value 6.60% 18.10%

U.S. Large Cap Growth 6.60% 18.10%

U.S. Mid Cap Equity 6.70% 19.60%

U.S. Small Cap Equity 7.10% 22.10%

Non-U.S. Developed MarketEquity

6.70% 20.50%

Non-U.S. Emerging MarketEquity

7.70% 26.30%

Global Equity Strategies 6.80% 19.50%

Equity Sector Strategies 6.60% 18.10%

Real Estate 5.90% 21.20%

Equity Other 7.00% 20.00%

Alternative Strategies 4.50% 9.70%

Commodities 3.60% 17.30%

Private Market Strategies 9.70% 26.90%

Allocation Strategies (EquityWeighted)

5.75% 13.30%

Asset Class NameProjected Return

AssumptionProjected Standard

Deviation

Allocation Strategies (FixedIncome Weighted)

4.85% 8.70%

World Allocation Strategies 5.96% 10.30%

Conservative Strategies 4.78% 7.07%

Moderate ConservativeStrategies

5.36% 10.29%

Moderate Strategies 5.78% 13.13%

Moderate Aggressive Strategies 6.06% 15.18%


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Risks Inherent in Investing

Investing in fixed income securities involves interest rate risk, credit risk, and inflation risk.Interest rate risk is the possibility that bond prices will decrease because of an interest rateincrease. When interest rates rise, bond prices and the values of fixed income securities fall.When interest rates fall, bond prices and the values of fixed income securities rise. Creditrisk is the risk that a company will not be able to pay its debts, including the interest on itsbonds. This risk is higher with non-investment grade fixed income securities. Inflation risk isthe possibility that the interest paid on an investment in bonds will be lower than theinflation rate, decreasing purchasing power.

Cash alternatives typically include money market securities and U.S. treasury bills. Investingin such cash alternatives involves inflation risk. In addition, investments in money marketsecurities may involve credit risk and a risk of principal loss. Because money marketsecurities are neither insured nor guaranteed by the Federal Deposit Insurance Corporationor any other government agency, there is no guarantee the value of your investment will bemaintained at $1.00 per share. U.S. Treasury bills are subject to market risk if sold prior tomaturity. Market risk is the possibility that the value, when sold, might be less than thepurchase price.

Investing in stock securities involves volatility risk, market risk, business risk, and industryrisk. The prices of most stocks fluctuate. Volatility risk is the chance that the value of a stockwill fall. Market risk is chance that the prices of all stocks will fall due to conditions in theeconomic environment. Business risk is the chance that a specific company’s stock will fallbecause of issues affecting it. Industry risk is the chance that a set of factors particular to anindustry group will adversely affect stock prices within the industry. (See “Asset Class –Stocks” in the Glossary section of this Important Disclosure Information for a summary ofthe relative potential volatility of different types of stocks.)

International investing involves additional risks including, but not limited to, changes incurrency exchange rates, differences in accounting and taxation policies, and political oreconomic instabilities that can increase or decrease returns.

Commodities are generally considered speculative because of the significant potential forinvestment loss. Commodities are volatile investments and should only form a small part ofa diversified portfolio. There may be sharp price fluctuations even during periods whenprices overall are rising.

Report Is a Snapshot and Does Not Provide Legal, Tax, or Accounting Advice

This Report provides a snapshot of your current financial position and can help you to focuson your financial resources and goals, and to create a plan of action. Because the resultsare calculated over many years, small changes can create large differences in future results.You should use this Report to help you focus on the factors that are most important to you.This Report does not provide legal, tax, or accounting advice. Before making decisions withlegal, tax, or accounting ramifications, you should consult appropriate professionals foradvice that is specific to your situation.

This information is provided for your convenience, but should not be used as a substitute foryour account's monthly statements and trade confirmations. It has been gathered frominformation provided by you and other sources believed to be reliable.

Goal Planning & Monitoring Methodology

Goal Planning & Monitoring offers several methods of calculating results, each of whichprovides one outcome from a wide range of possible outcomes. The methods used are:“Average Returns,” “Bad Timing,” “Class Sensitivity,” and “Monte Carlo Simulations.”

Results Using Average Returns

The Results Using Average Returns are calculated using one average return for yourpre-retirement period and one average return for your post-retirement period. AverageReturns are a simplifying assumption. In the real world, investment returns can (and oftendo) vary widely from year to year and vary widely from a long-term average return.

Results with Bad Timing

Results with Bad Timing are calculated by using low returns in one or two years, andaverage returns for all remaining years of the Plan. For most Plans, the worst time for lowreturns is when you begin taking substantial withdrawals from your portfolio. The Resultswith Bad Timing assume that you earn a low return in the year(s) you select and then anAdjusted Average Return in all other years. This Adjusted Average Return is calculated sothat the average return of the Results with Bad Timing is equal to the return(s) used incalculating the Results Using Average Returns. This allows you to compare two results withthe same overall average return, where one (the Results with Bad Timing) has low returns inone or two years.

The default for the first year of low returns is two standard deviations less than the averagereturn, and the default for the second year is one standard deviation less than the averagereturn.


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Results Using Class Sensitivity

The Results Using Class Sensitivity are calculated by using different return assumptions forone or more asset classes during the years you select. These results show how your Planwould be affected if the annual returns for one or more asset classes were different thanthe average returns for a specified period in your Plan.

Results Using Monte Carlo Simulations

Monte Carlo simulations are used to show how variations in rates of return each year canaffect your results. A Monte Carlo simulation calculates the results of your Plan by runningit many times, each time using a different sequence of returns. Some sequences of returnswill give you better results, and some will give you worse results. These multiple trialsprovide a range of possible results, some successful (you would have met all your goals) andsome unsuccessful (you would not have met all your goals). The percentage of trials thatwere successful is the probability that your Plan, with all its underlying assumptions, couldbe successful. In Goal Planning & Monitoring, this is the Probability of Success.Analogously, the percentage of trials that were unsuccessful is the Probability of Failure.The Results Using Monte Carlo Simulations indicate the likelihood that an event may occuras well as the likelihood that it may not occur. In analyzing this information, please notethat the analysis does not take into account actual market conditions, which may severelyaffect the outcome of your goals over the long-term.

Goal Planning & Monitoring Presentation of Results

The Results Using Average Returns, Bad Timing, and Class Sensitivity display the resultsusing an “Estimated % of Goal Funded” and a “Safety Margin.”

Estimated % of Goal Funded

For each Goal, the “Estimated % of Goal Funded” is the sum of the assets used to fund theGoal divided by the sum of the Goal’s expenses. All values are in current dollars. A result of100% or more does not guarantee that you will reach a Goal, nor does a result under100% guarantee that you will not. Rather, this information is meant to identify possibleshortfalls in this Plan, and is not a guarantee that a certain percentage of your Goals will befunded. The percentage reflects a projection of the total cost of the Goal that was actuallyfunded based upon all the assumptions that are included in this Plan, and assumes that youexecute all aspects of the Plan as you have indicated.

Safety Margin

The Safety Margin is the estimated value of your assets at the end of this Plan, based on allthe assumptions included in this Report. Only you can determine if that Safety Margin issufficient for your needs.

Bear Market Loss and Bear Market Test

The Bear Market Loss shows how a portfolio would have been impacted during the worstbear market since the Great Depression. Depending on the composition of the portfolio,the worst bear market is either the "Great Recession" or the "Bond Bear Market."

The Great Recession, from November 2007 through February 2009, was the worst bearmarket for stocks since the Great Depression. In Goal Planning & Monitoring, the GreatRecession Return is the rate of return, during the Great Recession, for a portfolio comprisedof cash, bonds, stocks, and alternatives, with an asset mix equivalent to the portfolioreferenced.

The Bond Bear Market, from July 1979 through February 1980, was the worst bear marketfor bonds since the Great Depression. In Goal Planning & Monitoring, the Bond Bear MarketReturn is the rate of return, for the Bond Bear Market period, for a portfolio comprised ofcash, bonds, stocks, and alternatives, with an asset mix equivalent to the portfolioreferenced.

The Bear Market Loss shows: 1) either the Great Recession Return or the Bond Bear MarketReturn, whichever is lower, and 2) the potential loss, if you had been invested in thiscash-bond-stock-alternative portfolio during the period with the lower return. In general,most portfolios with a stock allocation of 20% or more have a lower Great RecessionReturn, and most portfolios with a combined cash and bond allocation of 80% or morehave a lower Bond Bear Market Return.

The Bear Market Test, included in the Stress Tests, examines the impact on your Plan resultsif an identical Great Recession or Bond Bear Market, whichever would be worse, occurredthis year. The Bear Market Test shows the likelihood that you could fund your Needs,Wants and Wishes after experiencing such an event.


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Even though you are using projected returns for all other Goal Planning & Monitoringresults, the Bear Market Loss and Bear Market Test use returns calculated from historicalindices. These results are calculated using only three asset classes – Cash, Bonds, andStocks. Alternative asset classes (e.g., real estate, commodities) are included in the Stocksasset class. The indices and the resulting returns for the Great Recession and the Bond BearMarket are:

Because the Bear Market Loss and Bear Market Test use the returns from asset class indicesrather than the returns of actual investments, they do not represent the performance forany specific portfolio, and are not a guarantee of minimum or maximum levels of losses orgains for any portfolio. The actual performance of your portfolio may differ substantiallyfrom those shown in the Great Recession Return, the Bond Bear Market Return, the BearMarket Loss, and the Bear Market Test.

Asset Class Index Great RecessionReturn

11/2007 – 02/2009

Bond Bear MarketReturn

07/1979 – 02/1980

Cash Ibbotson U.S. 30-dayTreasury Bills

2.31% 7.08%

Bond Ibbotson Intermediate-TermGovernment Bonds – TotalReturn

15.61% -8.89%

Stock S&P 500 - Total Return -50.95% 14.61%

Alternative HFRI FOF: Diversified*S&P GSCI Commodity - TotalReturn**

-19.87%N/A

N/A23.21%

*Hedge Fund Research Indices Fund of Funds

**S&P GSCI was formerly the Goldman Sachs Commodity Index

Goal Planning & Monitoring Risk Assessment

The Goal Planning & Monitoring Risk Assessment highlights some – but not all – of thetrade-offs you might consider when deciding how to invest your money. This approachdoes not provide a comprehensive, psychometrically-based, or scientifically-validated profileof your risk tolerance, loss tolerance, or risk capacity, and is provided for informationalpurposes only.

Based on your specific circumstances, you must decide the appropriate balance betweenpotential risks and potential returns. Goal Planning & Monitoring does not and cannotadequately understand or assess the appropriate risk/return balance for you. Goal Planning& Monitoring requires you to select a risk score. Once selected, three important pieces ofinformation are available to help you determine the appropriateness of your score: acash-bond-stock portfolio, the impact of a Bear Market Loss (either the Great Recession orthe Bond Bear Market, whichever is lower) on this portfolio, and a graph showing how yourscore compares to the risk score of others in your age group.

Goal Planning & Monitoring uses your risk score to select a risk-based portfolio on theTarget Band page. This risk-based portfolio selection is provided for informational purposesonly, and you should consider it to be a starting point for conversations with your advisor. Itis your responsibility to select the Target Portfolio you want Goal Planning & Monitoring touse. The selection of your Target Portfolio, and other investment decisions, should be madeby you, after discussions with your advisor and, if needed, other financial and/or legalprofessionals.

Executive Summary

Executive Summary

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See Important Disclosure Information section in this Report for explanations of assumptions, limitations, methodologies, and a glossary.

Reaching Your Goals Status

Net Worth

$1,591,304Assets

$115,000Liabilities

$1,476,304Net Worth

Results

If you implement the following suggestions, there is a 74% likelihood of funding all of the Financial Goals in your Plan.

Executive Summary

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Goals

Plan to reduce your Total Goal Spending to $2,453,385 which is $29,916, or 1%, less than your Target.

Sam retires at age 65, in the year 2019.

Sue retires at age 65, in the year 2019.

Executive Summary

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Goal Amount Changes

Needs

10 Retirement - Expense. Lunch with?

Both Retired $51,600

Sue Alone Retired $36,000

10 Long Term Care $1

Starting 2024

Years between occurrences 1

Number of occurrences 3

10 Car/transportation. Ice cream cone? $9,688 Decreased $312

Starting 2024


Ending End of plan

10 Maintain Home. Change Lite Bulbs? $1,938 Decreased $62

Starting 2014


Ending End of plan

10 Health Care

Both Medicare $14,450

Sue Alone Medicare $7,087

9 Mortgage $17,438 Decreased $562

Starting 2014



Executive Summary

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Goal Amount Changes

Wants

5 Travel $4,375 Decreased $625

Starting When both are retired



Wishes

3 College - Fletcher,Lucy,Lily, Ivy $24,061

Years of School 12

Start Year 2024

1 Leave Bequest $0 Decreased $10,000

Starting End of Sue's Plan

Save and Invest Status

Savings

Consider the following changes in order to increase your savings by $1,500 to a total of $6,250 per year.

Increase taxable additions by $1,500. Make this change in 2016.

Risk Management Status

Life

Consider a review of your life insurance to determine if you have adequate coverage.

Estate Status

Estate Strategies

Consider reviewing your beneficiary designations and estate planning documents (Will, Power of Attorney, Medical Directive, etc.) tomake sure they are aligned with your plan.

Executive Summary

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Banking Status

Cash Management

Managing spending and savings effectively is a key component of a successful plan. A review of debt, such as credit cards andmortgages, as well as spending and savings accounts can help to ensure that you are getting the most from your money and notpaying too much in unnecessary interest or fees.

Social Security Status

Personal Information

Your Full Retirement Age (FRA) is the age that you would receive 100% of your Primary Insurance Amount (PIA). Depending on theyear you were born, your FRA is between 65-67 years old. Taking benefits before or after your FRA will decrease or increase theamount you receive, respectively.

Sam's FRA is 66 and 0 months in 2020.

Sue's FRA is 66 and 0 months in 2020.

Your Primary Insurance Amount (PIA) is the benefit you would receive if you began benefits at your Full Retirement Age (FRA). It iscalculated from the earnings on which you paid Social Security taxes, throughout your life.

Sam's estimated annual PIA is $26,100

Sue's estimated annual PIA is $13,050

Strategy Information

Sam files a normal application at 66 in 2020.

Sue files a normal application at 66 in 2020.

Using this strategy, your household's total lifetime benefits would be $1,057,050 in today's dollars.

Executive Summary

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Investment Policy Status

Roles and Responsibilities

You have selected Jim Zientara, MBA, CIMA to assist in the managing and implementation of your investment portfolio. The primaryresponsibilities of your financial advisor are:

• Prepare and maintain this Goal Planning & Monitoring (GPM) plan (“The Plan”) which includes:

*A risk/return profile of the target portfolio

*Time horizons of your goals for the portfolio

*A schedule of your liquidity needs to fund your goals

• Prudently recommend investment options within the Target Portfolios

• Avoid conflicts of interest and prohibited transactions

• Monitor and review your portfolio in accordance with the Plan

• Communicate fees and investment expenses

Clients

Any successful relationship depends upon personal commitment, regular and open communication and informed decision making.Your primary responsibilities are:

• Be forthcoming about your current financial situation, as well as your goals (Needs, Wants & Wishes) as reflected in the Plan.

• Read and carefully review all trade confirmations and account statements for accuracy and promptly report any errors

• Read carefully any investment literature, prospectuses and/or other offering documents, when applicable, prior to makinginvestment decisions and purchases.

• Understand the total of all fees & commissions given the specific investment services provided.

• Report changes in your financial and personal circumstances in a timely manner to assure that all relevant factors are reflected inyour Plan.

• Understand all investments have some degree of risk and it is possible to lose money on any investment.

• Understand that any results contained in your Goal Planning & Monitoring plan are based upon assumptions and can significantlychange either positively or negatively based upon any changes to the assumptions

Executive Summary

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Monitoring

The percentage weighting to each asset class within the portfolio will vary over time relative to the Target Portfolio. The percentageweighting within each asset class will be allowed to vary within a reasonable range depending on market conditions.

Summary of Goals and Resources

Personal Information and Summary of Financial Goals

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Sam and Sue Johnson

Needs

Retirement - Expense. Lunch with?10

SamSueBoth Retired (2019-2044)Sue Alone Retired (2045-2047)

65 / 201965 / 2019$51,600$36,000Base Inflation Rate (2.20%)

Long Term Care10

In 2024Recurring every year for a total of 3 times

$1Base Inflation Rate (2.20%)

Car/transportation. Ice cream cone?10

In 2024Recurring every 10 years until end of plan

$10,000Base Inflation Rate (2.20%)

Maintain Home. Change Lite Bulbs?10

In 2014Recurring every year until end of plan


Health Care10

Both Medicare (2019-2044)Sue Alone Medicare (2045-2047)

$14,450$7,087Base Inflation Rate plus 4.00% (6.20%)

Mortgage9

In 2014Recurring every year for a total of 10 times


Wants

Personal Information and Summary of Financial Goals

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Sam and Sue Johnson

Travel5

When both are retiredRecurring every year for a total of 20 times


Wishes

College - Fletcher,Lucy,Lily, Ivy3

12 years starting in 2024Attending College - Public In-State (4 years)


Leave Bequest1

End of Sue's plan $10,000Base Inflation Rate (2.20%)

Personal Information

Sam

Male - born 02/01/1954, age 62

Sue

Female - born 02/02/1954, age 62

Married, US Citizens living in FL

Employed - $75,000

Employed - $75,000

• This section lists the Personal and Financial Goal information you provided, which willbe used to create your Report. It is important that it is accurate and complete.

Participant Name Date of Birth Age Relationship

Amy 01/01/1979 37 Child

Jeff 01/01/1982 34 Child

Fletcher 01/01/2009 7 Grandchild

Ivy Sun 02/28/2016 0 Grandchild

Lily 04/29/2014 2 Grandchild

Lucy 01/01/2011 5 Grandchild

Current Financial Goals Graph

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This graph shows the annual costs for your Financial Goals, as you have specified. Because these costs will be used to create your Plan, it isimportant that they are accurate and complete. All amounts are in after-tax, future dollars.

Net Worth Summary - All Resources

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This is your Net Worth Summary as of 10/31/2016. Your Net Worth is the difference between what you own (your Assets) and what youowe (your Liabilities). To get an accurate Net Worth statement, make certain you have entered all of your Assets and Liabilities.

+ $150,000Other Assets

Investment Assets $1,441,304

Total Liabilities $115,000

Net Worth $1,476,304

$1,591,304Total Assets

-

Description Total

Investment Assets

Employer Retirement Plans $200,000

Individual Retirement Accounts $275,800

Annuities & Tax-Deferred Products $200,000

Taxable and/or Tax-Free Accounts $764,504

College Saving Plans $1,000

Total Investment Assets: $1,441,304

Other Assets

Home and Personal Assets $150,000

Total Other Assets: $150,000

Liabilities

Personal Real Estate Loan: $100,000

Vehicle Loan: $5,000

Other Personal Debt: $10,000

Total Liabilities: $115,000

Net Worth: $1,476,304

Resources Summary

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Description Owner Current Value Additions Assign to Goal

Investment Assets

Sam401(k) $200,000 $3,750 Fund All Goals

Sam529 Savings Plan $1,000 $1,000 College - Fletcher,Lucy,Lily, Ivy

SueIndexed Annuity with GLWB $100,000 Fund All Goals

Joint SurvivorshipInvestments $750,000 Fund All Goals

Joint SurvivorshipStock $14,504 Fund All Goals

SamTraditional IRA - Account $100,000 Fund All Goals

SueTraditional IRA - Account $175,800 Fund All Goals

SamVariable Annuity with GLWB $100,000 Fund All Goals

$1,441,304Total Investment Assets :

Description Owner Current Value Future Value Assign to Goal

Other Assets

Home Joint Survivorship $150,000 Not Funding Goals

$150,000Total of Other Assets :

Annual Premium Cash ValueDescription Owner BeneficiaryInsured Death Benefit Premium Paid

Insurance Policies

Insurance Policies Summary (not included in Assets)

$250Term life insurance Term Life

Sam Co-Client of Insured- 100%

Sam $50,000 Until Insured Dies

$50,000Total Death Benefit of All Policies :

When the insured dies, the Cash Value of that policy is included in the Total Investment Assets.

Social Security

Description Value Assign to Goal

Social Security Sam will file a normal application at age 66.He will receive $26,100 in retirement benefits at age 66.

Fund All Goals

Resources Summary

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Social Security

Description Value Assign to Goal

Social Security Sue will file a normal application at age 66.She will receive $13,050 in retirement benefits at age 66.

Fund All Goals

Type Outstanding Balance Monthly PaymentDescription Interest RateOwner

Liabilities

Total Amount Car Loan $5,000 $250Sam

Total Amount Credit cards $10,000 $300Joint

1st Mortgage Mortgage on home $100,000 $1,5006.000%Joint

$115,000Total Outstanding Balance :

Risk and Portfolio Information

Risk Assessment

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Compare Me to my Group

Average Age 50 to 64

Bear Market Loss

Balanced

$1,341,304Portfolio Value

-28%Great Recession Return from November2007 through February 2009

-$375,565Potential loss of Portfolio Value

You are an About Average Risk-Taker

You selected a Risk Score for your Household of 50.

• The Bell Curve above shows the normal distribution of risk scores for your group. The average score is 50.

• Your Score corresponds to a Balanced Portfolio with 67% Stock (includes Alternative).

• You know that the Balanced Portfolio you selected had a -28% return during the Great Recession and are willing to accept the risk thatyou could experience a similar or worse result.

• You realize that you may be accepting greater risk of loss as a household than Sue might prefer based upon her individual Risk Score.

• Your Score indicates that you are an About Average Risk-Taker (scores 46-54) as compared to other Investors of similar age.

Portfolio Appropriate for Score

Balanced

Average Return: 5.78%

HouseholdSam Sue

Risk Score: 60 5040

Portfolio Selected: Balanced w/ Growth BalancedConservative Balanced

% Stock (includes Alternative): 83% 67%48%

Average Return: 6.06% 5.78%5.35%

Great Recession Return: -38% -28%-17%

Bond Bear Market Return: 11% 7%3%

Results

Results - Current and Recommended

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Results Current Scenario Recommended Scenario

Average Return Bad Timing Average Return Bad Timing

100% 95% 100% 99%Estimated % of Goals Funded

Likelihood of Funding All Goals

Your Confidence Zone: 75% - 90%

Current Scenario Adjustments Changes In Value

Retirement

Retirement Age

65 in 201965 in 2019Sam

65 in 201965 in 2019Sue

Planning Age

90 in 204490 in 2044Sam

93 in 204793 in 2047Sue


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Goals

Needs

$51,600$36,000

$51,600$36,000

Retirement - Expense. Lunch with?Both RetiredSue Alone Retired

$12024

13

$12024

13

Long Term CareStartingYears between occurrencesNumber of occurrences

Decreased $312$9,688202410

End of plan

$10,000202410

End of plan

Car/transportation. Ice cream cone?StartingYears between occurrencesEnding

Decreased $62$1,9382014

1End of plan

$2,0002014

1End of plan

Maintain Home. Change Lite Bulbs?StartingYears between occurrencesEnding

$14,450$7,087

$14,450$7,087

Health CareBoth MedicareSue Alone Medicare

Decreased $562$17,438

20141

10

$18,0002014

110

MortgageStartingYears between occurrencesNumber of occurrences

Wants

Decreased $625$4,375

When both are retired1

20

$5,000When both are retired

120

TravelStartingYears between occurrencesNumber of occurrences

Wishes

$24,06112

2024

$24,06112

2024

College - Fletcher,Lucy,Lily, IvyYears of SchoolStart Year

Decreased $10,000$0End of Sue's Plan

$10,000End of Sue's Plan

Leave BequestStarting

Decreased 1%$2,453,385$2,483,301Total Spending for Life of Plan


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Savings

$3,750$3,750Qualified

$1,000$1,000529 Plan

Increased $1,500$1,500$0Taxable

Increased $1,500$6,250$4,750Total Savings This Year

Portfolios

17% Less StockCustomCurrentAllocation Before Retirement

77%94%Percent Stock

6.10%6.45%Total Return

14.79%17.17%Standard Deviation

-38%-47%Great Recession Return 11/07 - 2/09

11%13%Bond Bear Market Return 7/79 - 2/80

30% Less StockBalancedCurrentAllocation During Retirement

64%94%Percent Stock

5.78%6.45%Total Return

12.43%17.17%Standard Deviation

-28%-47%Great Recession Return 11/07 - 2/09

7%13%Bond Bear Market Return 7/79 - 2/80

2.20%2.20%Inflation

Investments

$1,341,304$1,341,304Total Investment Portfolio

$100,000$100,000Current GMWB Investment Strategies

$1,441,304$1,441,304Total Investment Assets

Social Security

At FRACurrentSocial Security Strategy


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Sam

NormalNormalFiling Method

6666Age to File Application

6666Age Retirement Benefits Begin

$26,100$26,100First Year Benefit

Sue

NormalNormalFiling Method

6666Age to File Application

6666Age Retirement Benefits Begin

$13,050$13,050First Year Benefit

Worksheet Detail - Bear Market Test

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Likelihood of Reaching Goals After Loss of 47% - Using All Assets to Fund Goals by Importance

Needs, Wants, and WishesNeeds and Wants OnlyNeeds Only

Goals

Needs

10 - Retirement - Expense. Lunch with?

10 - Long Term Care

10 - Car/transportation. Ice cream cone?

10 - Maintain Home. Change Lite Bulbs?

10 - Health Care

9 - Mortgage

Wants

5 - Travel

Wishes

3 - College - Fletcher,Lucy,Lily, Ivy

1 - Leave Bequest

This test assumes your investment allocation matches your current portfolio. If your investments suffered a loss of 47% this year, your portfolio value would bereduced by $630,413. This is the approximate loss sustained by a portfolio with a similar percentage of stocks, bonds, cash, and alternative during the GreatRecession, which lasted from November 2007 through February 2009. These results show the likelihood you would be able to fund your Needs, Wants and Wishesafter experiencing this loss.

Bear Market Test for Current Scenario

Worksheet Detail - Bear Market Test

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Likelihood of Reaching Goals After Loss of 38% - Using All Assets to Fund Goals by Importance

Needs, Wants, and WishesNeeds and Wants OnlyNeeds Only

Goals

Needs

10 - Retirement - Expense. Lunch with?

10 - Long Term Care

10 - Car/transportation. Ice cream cone?

10 - Maintain Home. Change Lite Bulbs?

10 - Health Care

9 - Mortgage

Wants

5 - Travel

Wishes

3 - College - Fletcher,Lucy,Lily, Ivy

1 - Leave Bequest

This test assumes your investment allocation matches the Custom portfolio. If your investments suffered a loss of 38% this year, your portfolio value would bereduced by $509,696. This is the approximate loss sustained by a portfolio with a similar percentage of stocks, bonds, cash, and alternative during the GreatRecession, which lasted from November 2007 through February 2009. These results show the likelihood you would be able to fund your Needs, Wants and Wishesafter experiencing this loss.

Bear Market Test for Adjustments

Worksheet Detail - Social Security Maximization

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As Soon AsPossible

At Retirement At FRA At Age 70

Sam begins atage 70 and

Sue begins atFRA

MaximizedBenefit

SelectedStrategy

Social Security Strategy

Start age Sam Sue

6666

6262

6565

6666

7070

7066

7070

First year benefit in current dollars Sam Sue

$26,100$13,050

$0$0

$24,360$12,180

$26,100$13,050

$34,452$17,226

$34,452$13,050

$34,452$17,226

Maximization Based on CashReceived

Total lifetime benefit in currentdollars

$1,057,050 $858,690 $1,023,120 $1,057,050 $1,188,594 $1,153,098 $1,188,594

Break Even Point Sam Sue

6969

N/AN/A

6565

6969

7676

7575

7676

Maximization Based on OverallResult

Probability of success 67% 59% 66% 67% 71% 70% 71%

Social Security Maximization for Current Scenario

Worksheet Detail - Social Security Maximization

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Social Security Maximization for Current Scenario

Notes

Selected Strategy:

You apply for and begin benefits at the later of your current age or age 62. The benefit isautomatically adjusted to account for excess earnings from part-time work, if applicable, andtaking benefits prior to your FRA. If you are age 62 or older, this option is not available.

This strategy is available only if you are married. The higher wage earner applies for and beginsbenefits at age 70. The lower wage earner applies for and begins benefits at his/her FRA. Thehigher/lower wage earners are determined based on the employment incomes you specified.

This strategy is available only if you are married. The lower wage earner applies for and suspendstaking benefits until age 70. The lower wage earner can file at or after his/her FRA, at which timethe spouse (the higher wage earner) files for and takes spousal benefits. The spouse then files forand begins his/her own benefit at age 70, at the higher benefit amount.

The higher wage earner makes a restricted application at his/her FRA. Restricted applicationallows the account holder to apply only for the "spousal benefit" s/he would be due under dualentitlement rules. At any age beyond his/her FRA, the higher wage earner can apply for andreceive benefits based on his/her own work history.

This is the strategy you selected.

At FRA:

You apply for and begin retirement benefits at your Full Retirement Age (FRA), which isdetermined by your date of birth. If the retirement age you specified is after your FRA, weassume you will begin benefits at FRA, and we will adjust the benefit for inflation until yourretirement age.

At Retirement:

You apply for and begin retirement benefits at the retirement age shown. The benefit isautomatically adjusted to account for excess earnings from part-time work and/or taking benefitsprior to your FRA, if either is applicable.

As soon as possible:

At age 70:

You apply for and begin benefits at age 70.

(Higher Wage Earner) begins at age 70 and (Lower Wage Earner) begins at FRA:

The lower wage earner makes a restricted application at his/her FRA. Restricted application allowsthe account holder to apply only for the "spousal benefit" s/he would be due under dualentitlement rules. At any age beyond his/her FRA, the lower wage earner can apply for andreceive benefits based on his/her own work history.

(Lower Wage Earner) files/suspends and (Higher Wage Earner) restricted application:

Maximized Benefits:

This is the strategy that provides the highest estimate of lifetime Social Security income, assumingyou live to the age(s) shown on the Detailed Results page.

Total Lifetime Benefit:

The total estimate of benefits you and your co-client, if applicable, would receive in your lifetime,assuming you live to the age(s) shown on the Detailed Results page. This amount is in current(non-inflated) dollars.

This strategy is available only if you are married. The higher wage earner applies for and suspendstaking benefits until age 70. The higher wage earner can file at or after his/her FRA, at whichtime the spouse (the lower wage earner) files for and takes spousal benefits. The spouse then filesfor and begins his/her own benefit at age 70, at the higher benefit amount.

(Higher Wage Earner) files/suspends and (Lower Wage Earner) restricted application:

Break Even Point:

The age(s) at which this strategy would provide benefits equivalent to the “As Soon As Possible”strategy. If you live longer than the “break even” age for a strategy, your total lifetime benefitsusing that strategy would be greater than the lifetime benefits of the “As Soon As Possible”strategy. If you are older than age 62 and the “As Soon As Possible” strategy is not shown, thebreak even comparison uses the strategy that begins at the earliest age(s) as the baseline forcomparison.

Glossary

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Asset Allocation is the process of determining what portions of your portfolio holdings areto be invested in the various asset classes.

Asset Allocation

Asset Class

Asset Class is a standard term that broadly defines a category of investments. The threebasic asset classes are Cash, Bonds, and Stocks. Bonds and Stocks are often furthersubdivided into more narrowly defined classes. Some of the most common asset classes aredefined below.

Cash and Cash Alternatives

Cash typically includes bank accounts or certificates of deposit, which are insured by theFederal Deposit Insurance Corporation up to a limit per account. Cash Alternatives typicallyinclude money market securities, U.S. treasury bills, and other investments that are readilyconvertible to cash, have a stable market value, and a very short-term maturity. U.S.Treasury bills are backed by the full faith and credit of the U.S. Government and, whenheld to maturity, provide safety of principal. (See the “Risks Inherent in Investing” sectionin this Important Disclosure Information for a summary of the risks associated withinvesting in cash alternatives.)

Bonds

Bonds are either domestic (U.S.) or global debt securities issued by either privatecorporations or governments. (See the “Risks Inherent in Investing” section in thisImportant Disclosure Information for a summary of the risks associated with investing inbonds. Bonds are also called “fixed income securities.”)

Domestic government bonds are backed by the full faith and credit of the U.S.Government and have superior liquidity and, when held to maturity, safety of principal.Domestic corporate bonds carry the credit risk of their issuers and thus usually offeradditional yield. Domestic government and corporate bonds can be sub-divided basedupon their term to maturity. Short-term bonds have an approximate term to maturity of 1to 5 years; intermediate-term bonds have an approximate term to maturity of 5 to 10years; and, long-term bonds have an approximate term to maturity greater than 10 years.

Commodities

A commodity is food, metal, or another fixed physical substance that investors buy or sell,usually via futures contracts, and generally traded in very large quantities.

Stocks

Stocks are equity securities of domestic and foreign corporations. (See the “Risks Inherentin Investing” section in this Important Disclosure Information for a summary of the risksassociated with investing in stocks.)

Domestic stocks are equity securities of U.S. corporations. Domestic stocks are oftensub-divided based upon the market capitalization of the company (the market value of thecompany's stock). "Large cap" stocks are from larger companies, "mid cap" from themiddle range of companies, and "small cap" from smaller, perhaps newer, companies.Generally, small cap stocks experience greater market volatility than stocks of companieswith larger capitalization. Small cap stocks are generally those from companies whosecapitalization is less than $500 million, mid cap stocks those between $500 million and $5billion, and large cap over $5 billion.

Large cap, mid cap and small cap may be further sub-divided into "growth" and "value"categories. Growth companies are those with an orientation towards growth, oftencharacterized by commonly used metrics such as higher price-to-book andprice-to-earnings ratios. Analogously, value companies are those with an orientationtowards value, often characterized by commonly used metrics such as lower price-to-bookand price-to-earnings ratios.

International stocks are equity securities from foreign corporations. International stocks areoften sub-divided into those from "developed" countries and those from "emergingmarkets." The emerging markets are in less developed countries with emerging economiesthat may be characterized by lower income per capita, less developed infrastructure andnascent capital markets. These "emerging markets" usually are less economically andpolitically stable than the "developed markets." Investing in international stocks involvesspecial risks, among which include foreign exchange volatility and risks of investing underdifferent tax, regulatory and accounting standards.

Asset Mix is the combination of asset classes within a portfolio, and is usually expressed as apercentage for each asset class.

Asset Mix

Bear Market Loss

The Bear Market Loss shows how a portfolio would have been impacted during the GreatRecession (November 2007 through February 2009) or the Bond Bear Market (July 1979through February 1980). The Bear Market Loss shows: 1) either the Great Recession Returnor the Bond Bear Market Return, whichever is lower, and 2) the potential loss, if you hadbeen invested in this cash-bond-stock-alternative portfolio during the period with the lowerreturn. See Great Recession Return and Bond Bear Market Return.

Glossary

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Bear Market Test

The Bear Market Test, included in the Stress Tests, examines the impact on your Plan resultsif a Bear Market Loss occurred this year. The Bear Market Test shows the likelihood that youcould fund your Needs, Wants and Wishes after experiencing such an event. See BearMarket Loss.

Bond Bear Market Return

The Bond Bear Market Return is the rate of return for a cash-bond-stock-alternativeportfolio during the Bond Bear Market (July 1979 through February 1980), the worst bearmarket for bonds since the Great Depression. Goal Planning & Monitoring shows a BondBear Market Return for your Current, Risk-based, and Target Portfolios, calculated usinghistorical returns of four broad-based asset class indices. See Great Recession Return.

Bypass Trust

An estate planning device used to pass down assets after death without subjecting them tothe estate tax.

Cash Receipt Schedule

A Cash Receipt Schedule consists of one or more years of future after-tax amounts receivedfrom the anticipated sale of an Other Asset, exercising of Stock Options grants, or proceedsfrom Restricted Stock grants.

Confidence Zone

See Monte Carlo Confidence Zone.

Concentrated Position

A Concentrated Position is when your portfolio contains a significant amount (as apercentage of the total portfolio value) in individual stock or bonds. Concentrated Positionshave the potential to increase the risk of your portfolio.

Current Dollars

The Results of Goal Planning & Monitoring calculations are in Future Dollars. To help youcompare dollar amounts in different years, we also express the Results in Current Dollars,calculated by discounting the Future Dollars by the sequence of inflation rates used in thePlan.

Current Portfolio

Your Current Portfolio is comprised of all the investment assets you currently own (or asubset of your assets, based on the information you provided for this Plan), categorized byAsset Class and Asset Mix.

Fund All Goals

Fund All Goals is one of two ways for your assets and retirement income to be used to fundyour goals. The other is Earmark, which means that an asset or retirement income isassigned to one or more goals, and will be used only for those goals. Fund All Goals meansthat the asset or income is not earmarked to fund specific goals, and can be used to fundany goal, as needed in the calculations.

Future Dollars

Future Dollars are inflated dollars. The Results of Goal Planning & Monitoring calculationsare in Future Dollars. To help you compare dollar amounts in different years, we discountthe Future Dollar amounts by the inflation rates used in the calculations and display theResults in the equivalent Current Dollars.

Great Recession Return

The Great Recession Return is the rate of return for a cash-bond-stock-alternative portfolioduring the Great Recession (November 2007 through February 2009), the worst bearmarket for stocks since the Great Depression. Goal Planning & Monitoring shows a GreatRecession Return for your Current, Risk-based, and Target Portfolios, calculated usinghistorical returns of four broad-based asset class indices. See Bond Bear Market Return.

Inflation Rate

Inflation is the percentage increase in the cost of goods and services for a specified timeperiod. A historical measure of inflation is the Consumer Price Index (CPI). In Goal Planning& Monitoring, the Inflation Rate is selected by your advisor, and can be adjusted in differentscenarios.

Liquidity

Liquidity is the ease with which an investment can be converted into cash.

Monte Carlo Confidence Zone

The Monte Carlo Confidence Zone is the range of probabilities that you (and/or youradvisor) have selected as your target range for the Monte Carlo Probability of Success inyour Plan. The Confidence Zone reflects the Monte Carlo Probabilities of Success withwhich you would be comfortable, based upon your Plan, your specific time horizon, riskprofile, and other factors unique to you.

Irrevocable Life Insurance Trust

An irrevocable trust set up with a life insurance policy as the asset, allowing the grantor ofthe policy to exempt the asset away from his or her taxable estate.

Glossary

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Monte Carlo Probability of Success / Probability of Failure

The Monte Carlo Probability of Success is the percentage of trials of your Plan that weresuccessful. If a Monte Carlo simulation runs your Plan 1,000 times, and if 600 of those runsare successful (i.e., all your goals are funded and you have at least $1 of Safety Margin),then the Probability of Success for that Plan, with all its underlying assumptions, would be60%, and the Probability of Failure would be 40%.

Monte Carlo Simulations

Monte Carlo simulations are used to show how variations in rates of return each year canaffect your results. A Monte Carlo simulation calculates the results of your Plan by runningit many times, each time using a different sequence of returns. Some sequences of returnswill give you better results, and some will give you worse results. These multiple trialsprovide a range of possible results, some successful (you would have met all your goals) andsome unsuccessful (you would not have met all your goals).

Needs / Wants / Wishes

In Goal Planning & Monitoring, you choose an importance level from 10 to 1 (where 10 isthe highest) for each of your financial goals. Then, the importance levels are divided intothree groups: Needs, Wants, and Wishes. Needs are the goals that you consider necessaryfor your lifestyle, and are the goals that you must fulfill. Wants are the goals that youwould really like to fulfill, but could live without. Wishes are the “dream goals” that youwould like to fund, although you won’t be too dissatisfied if you can’t fund them. In GoalPlanning & Monitoring, Needs are your most important goals, then Wants, then Wishes.

Portfolio Set

A Portfolio Set is a group of portfolios that provides a range of risk and return strategies fordifferent investors.

Portfolio Total Return

A Portfolio Total Return is determined by weighting the return assumption for each AssetClass according to the Asset Mix.

Probability of Success / Probability of Failure

See Monte Carlo Probability of Success / Probability of Failure.

Real Return

The Real Return is the Total Return of your portfolio minus the Inflation Rate.

Standard Deviation

Standard Deviation is a statistical measure of the volatility of an investment, an asset class,or a portfolio. It measures the degree by which an actual return might vary from theaverage return, or mean. Typically, the higher the standard deviation, the higher thepotential risk of the investment, asset class, or portfolio.

Safety Margin

The Safety Margin is the hypothetical portfolio value at the end of the Plan. A Safety Marginof zero indicates the portfolio was depleted before the Plan ended.

Recommended Scenario

The Recommended Scenario is the scenario selected by your advisor to be shown on theResults page, in Play Zone, and in the Presentation.

Retirement Start Date

For married couples, retirement in Goal Planning & Monitoring begins when both the clientand spouse are retired. For single, divorced, or widowed clients, retirement begins when theclient retires.

Risk

Risk is the chance that the actual return of an investment, asset class, or portfolio will bedifferent from its expected or average return.

Risk-based Portfolio

The risk-based portfolio is the Model Portfolio associated with the risk score you selected.

Star Track provides a summary of your Plan results over time, using a bar graph. Each barshows the Monte Carlo Probability of Success for your Recommended Scenario, on the datespecified, compared to the Monte Carlo Probability of Success for a scenario using all Targetvalues.

Star Track

Target Goal Amount

The Target Goal Amount is the amount you would expect to spend, or the amount youwould like to spend, for each financial goal.

Target Band

The Target Band is the portfolio(s) that could be appropriate for you, based upon therisk-based portfolio.

Glossary

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Target Retirement Age

Target Retirement Age is the age at which you would like to retire.

Target Savings Amount

In the Resources section of Goal Planning & Monitoring, you enter the current annualadditions being made to your investment assets. The total of these additions is your TargetSavings Amount.

Time Horizon

Time Horizon is the period from now until the time the assets in this portfolio will begin tobe used.

Total Return

Total Return is an assumed, hypothetical growth rate for a specified time period. The TotalReturn is either (1) the Portfolio Total Return or (2) as entered by you or your advisor. Alsosee “Real Return.”

Wants

See "Needs / Wants / Wishes".

Willingness

In Goal Planning & Monitoring, in addition to specifying Target Goal Amounts, a TargetSavings Amount, and Target Retirement Ages, you also specify a Willingness to adjust theseTarget values. The Willingness choices are Very Willing, Somewhat Willing, Slightly Willing,and Not at All.

Wishes

See "Needs / Wants / Wishes".

Target Portfolio

Target Portfolio is the portfolio you have selected based upon your financial goals and yourrisk tolerance.

Plan Delivery Acknowledgement

Notes

Client signature & date

________________________________________________________

Delivery Date

________________________________________________________

We have prepared this plan based on information provided by you. We have not attempted to verify the accuracy or completeness of thisinformation. As the future cannot be forecast with certainty, actual results will vary from these projections. It is possible that thesevariations may be material. The degree of uncertainty normally increases with the length of the future period covered.

Financial Advisor : Jim Zientara, MBA, CIMA

Your advisor (Jim Zientara, MBA, CIMA) will review this plan with you on a periodic basis to determine whether your stated goals andassumptions in this plan are still relevant. It is not expected that the plan will change frequently. In particular, short-term changes in thefinancial markets should not generally require adjustments to the plan. It is your obligation to notify all interested parties of any materialchanges that would alter the objectives of this plan. If all interested parties are not notified of any material changes, then the current plandocument would become invalid.

This plan should be reviewed periodically to ensure that the decisions made continue to be appropriate, particularly if there are changes infamily circumstances including, but not limited to an inheritance, birth of a child, death of a family member, or material change in incomesor expenses.

We (Sam and Sue Johnson) have reviewed and accept the information contained within this plan and understand the assumptionsassociated with it. We believe that all information provided by us is complete and accurate to the best of our knowledge. We recognizethat performance is not guaranteed and that all future projections are included simply as a tool for decision making and do not represent aforecast of our financial future.

Advisor signature & date

________________________________________________________

Plan Name : Financial Goal Plan

Report Name : Financial Goal Plan 10/31/2016

Documents

Sam and Sue Johnson - raymondjames.com · 10/31/2016 Prepared for : Sam and Sue Johnson Company: Raymond James Prepared by: Jim Zientara, MBA, CIMA Page 1 of 31 The return assumptions