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Financial Security Plan For:

אפרת חדד



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Rule of Thumb

Cash

  • As a general rule, you should have an emergency fund to cover at least three to six months of basic living expenses (it can be more if you choose to).
  • Consider building an emergency fund based on cash or cash equivalents such as daily interest plans, short-term guaranteed investment certificates (GICs) or money market funds.

Debt

  • 10% – 25% of income should be put towards paying off all debts.
  • In case of debt it is recommended to consolidate debt at a lower interest rate and get a loan to reduce your monthly payment. This will give you some stability and breath to allocate funds to things that matter to you and secure your financial future.

Savings

  • 10% – 25% of income should be put towards savings, non-registered and registered.
  • It is recommended to put at least 10% of income towards saving towards your future goals.

Personal and financial security

  • 5% – 10% of income should go towards wealth protection (Life insurance, critical illness, and disability protection).
  • If needed and posiable it is recommended to allocate 10% to protect your savings and insurability

Other financial security

  • 5% – 10% of income should be used to cover other insurance (e.g., Car and home).
  • Your other insurance needs might change over time as. This should be reconsider with every major change in your life

Living expenses and plesure

  • 40% – 60% of income (i.e., the remainder) should be used for your living expenses and pleasure.
  • This will change ver time when major events take place in your life e.g. buying a house, building a family, getting a promotion, or any other event that will impact your cash flow.

Great, You took the first step towrds financial security – getting a plan!

  • Having a financial plan will provide you with financial security in the future.
  • Starting personal wealth protection is very important specially to protect and secure for the future.

Priority Pyramid

What are your priorities in life?


For most people, financial security ranks among the most important. How you choose to protect yourself financially has its priorities. As indicated in the diagram, a life insurance program provides the solid, secure base on which to balance future investment activity.

Net Worth: $ 403,000


Net Worth Anlysis

You have a positive Net Worth, that means that in the worst scenario your assets can cover your liabilities.


Great! you have no debt. This means that it’s much easier to save and invest in your future. You might gain debt if you make a large purchase in the future e.g. buying a house but you are in a good position to have a financial freedom.

Net Worth is based on information last provided on Thursday, September 3rd, 2020 4:29 pm

Cash Flow: $ 2,656



Budget & Cash Flow Analysis

You have a positive cash flow of: $ 2,656 and that’s good! Having positive cash flow means that you can allocate funds towards savings and secure your lifestyle.

Bellow is your expenditures distrebution from your income:
  • General Expenditures: 19.13 %
  • Healthcare: 3.04 %
  • Housing: 24.91 %
  • Recreation: 6.52 %
  • Transportation: 3.22 %
  • Contribution to savings & insurance: 10.51 %
  • Debt repayment: 0.00 % (including car: 0.00 %)
  • Miscellaneous: 9.57 %

Budget is based on information last provided on Thursday, September 3rd, 2020 4:45 pm

Retirement goal: $ 1,893,716

Information

Years to retierment: 14
Years in retierment: 26

Alternatives

Increase monthly saving by: $ 7,410
Invest today a lump sum of $ 956,455
Retiere with: $ 88,476

Retirement Analysis

You have 14 years to your retierment .
Your goal is to retire with 40.00 % of your current income. Please note that your calculated retierment income does not factor taxs. If you would like to include the tax simply change the prcentage of the retierment desired income to reflect it before tax.
Your current saving plan rpresent a shortfall of $ 1,805,240 from your retierment goal of $ 1,893,716.
To meet your retierment fund goal you need to increase your current monthly saving by $ 7,410 to the amount of $ 7,410. Your current cash flow does not allow you to cover this gap. Before you can start saving towards your retierment you will need to have a positive cash flow. to have a positive cash flow you need to reduce your expenses or increase your income.

Retirement anlysis is based on information last provided on Thursday, September 3rd, 2020 4:51 pm

Total Education costs: $ 1

Alternatives

Decrease monthly saving by: $ -1
Invest today a lump sum of $ 1

Total Education Needs Analysis

Your future education fund goal is $ 1.

As your current plan does not represent a shortfall, we found that you can reduce your monthly contribution by $ -1 and allocate it to other priorities yoou might have.

Education anlysis is based on information last provided on Sunday, June 20th, 2021 5:08 pm

Nicole

Education cost: $ 14,566

Information

Years to start: 2
Start year: 2019

Alternatives

Increase monthly saving by: $ 576
Invest today a lump sum of $ 13,212
Seek Education with a cost of: $ 0

Education anlysis is based on information last provided on Tuesday, February 27th, 2018 11:18 pm

Jasper

Education cost: $ 12,000

Information

Years to start: 0
Start year: 2019

Alternatives

Increase monthly saving by: $
Invest today a lump sum of $ 12,000
Seek Education with a cost of: $ 0

Education anlysis is based on information last provided on Thursday, September 3rd, 2020 4:54 pm

Quinlan

Education cost: $ 60,000

Information

Years to start: 0
Start year: 2020

Alternatives

Increase monthly saving by: $
Invest today a lump sum of $ 60,000
Seek Education with a cost of: $ 0

Education anlysis is based on information last provided on Thursday, September 3rd, 2020 4:56 pm

Kienan

Education cost: $ 49,939

Information

Years to start: 2
Start year: 2022

Alternatives

Increase monthly saving by: $ 1,975
Invest today a lump sum of $ 45,296
Seek Education with a cost of: $ 0

Education anlysis is based on information last provided on Thursday, September 3rd, 2020 4:58 pm

markius lessey

Education cost: $ 29,280

Information

Years to start: 6
Start year: 2024

Alternatives

Increase monthly saving by: $ 348
Invest today a lump sum of $ 21,849
Seek Education with a cost of: $ 0

Education anlysis is based on information last provided on Thursday, January 17th, 2019 1:45 pm

Aidan

Education cost: $ 57,364

Information

Years to start: 9
Start year: 2029

Alternatives

Increase monthly saving by: $ 96
Invest today a lump sum of $ 36,977
Seek Education with a cost of: $ 44,220

Education anlysis is based on information last provided on Thursday, September 3rd, 2020 5:01 pm

Sarah Bracha

Education cost: $ 50,730

Information

Years to start: 12
Start year: 2029

Alternatives

Do not change your current monthly contribution
Invest today a lump sum of $ 28,248

Education anlysis is based on information last provided on Sunday, January 28th, 2018 6:11 pm

SBE

Education cost: $ 50,730

Information

Years to start: 12
Start year: 2029

Alternatives

Increase monthly saving by: $ 143
Invest today a lump sum of $ 28,248
Seek Education with a cost of: $ 22,488

Education anlysis is based on information last provided on Wednesday, June 13th, 2018 10:39 pm

SBZ

Education cost: $ 38,243

Information

Years to start: 9
Start year: 2028

Alternatives

Increase monthly saving by: $ 113
Invest today a lump sum of $ 24,652
Seek Education with a cost of: $ 22,842

Education anlysis is based on information last provided on Thursday, September 3rd, 2020 11:17 am

SBZ

Education cost: $ 34,814

Information

Years to start: 11
Start year: 2029

Alternatives

Increase monthly saving by: $ 198
Invest today a lump sum of $ 20,355
Seek Education with a cost of: $ 0

Education anlysis is based on information last provided on Monday, November 19th, 2018 11:40 am

RBE

Education cost: $ 51,744

Information

Years to start: 13
Start year: 2031

Alternatives

Increase monthly saving by: $ 122
Invest today a lump sum of $ 27,441
Seek Education with a cost of: $ 24,872

Education anlysis is based on information last provided on Wednesday, June 13th, 2018 10:40 pm

rbe

Education cost: $ 39,008

Information

Years to start: 10
Start year: 2030

Alternatives

Increase monthly saving by: $ 34
Invest today a lump sum of $ 23,948
Seek Education with a cost of: $ 33,656

Education anlysis is based on information last provided on Thursday, September 3rd, 2020 11:19 am

REZ

Education cost: $ 36,221

Information

Years to start: 13
Start year: 2031

Alternatives

Increase monthly saving by: $ 165
Invest today a lump sum of $ 19,209
Seek Education with a cost of: $ 0

Education anlysis is based on information last provided on Monday, November 19th, 2018 11:41 am

GMZ

Education cost: $ 53,835

Information

Years to start: 15
Start year: 2033

Alternatives

Increase monthly saving by: $ 89
Invest today a lump sum of $ 25,896
Seek Education with a cost of: $ 30,011

Education anlysis is based on information last provided on Wednesday, June 13th, 2018 10:41 pm

GMZ

Education cost: $ 37,684

Information

Years to start: 15
Start year: 2033

Alternatives

Increase monthly saving by: $ 140
Invest today a lump sum of $ 18,127
Seek Education with a cost of: $ 0

Education anlysis is based on information last provided on Monday, November 19th, 2018 11:42 am

johannes

Education cost: $ 15,834

Information

Years to start: 14
Start year: 2032

Alternatives

Decrease monthly saving by: $ -31
Invest today a lump sum of $ 5,053
Seek Education with a cost of: $ 25,981

Education anlysis is based on information last provided on Sunday, May 20th, 2018 8:07 pm

marley-king lessey

Education cost: $ 34,993

Information

Years to start: 15
Start year: 2033

Alternatives

Increase monthly saving by: $ 130
Invest today a lump sum of $ 16,832
Seek Education with a cost of: $ 0

Education anlysis is based on information last provided on Thursday, January 17th, 2019 1:46 pm

Ahamad

Education cost: $ 47,105

Information

Years to start: 15
Start year: 2033

Alternatives

Do not change your current monthly contribution
Invest today a lump sum of $ 22,658

Education anlysis is based on information last provided on Thursday, January 10th, 2019 9:23 pm

Yael

Education cost: $ 35,006

Information

Years to start: 17
Start year: 2034

Alternatives

Increase monthly saving by: $ 9
Invest today a lump sum of $ 15,273
Seek Education with a cost of: $ 32,186

Education anlysis is based on information last provided on Friday, March 16th, 2018 1:36 pm

DNSZ

Education cost: $ 39,991

Information

Years to start: 18
Start year: 2036

Alternatives

Increase monthly saving by: $ 11
Invest today a lump sum of $ 16,617
Seek Education with a cost of: $ 36,293

Education anlysis is based on information last provided on Thursday, December 13th, 2018 2:09 pm

A

Education cost: $ 68,556

Information

Years to start: 18
Start year: 2039

Alternatives

Decrease monthly saving by: $ -289
Invest today a lump sum of $ 28,486
Seek Education with a cost of: $ 169,723

Education anlysis is based on information last provided on Friday, June 18th, 2021 10:59 pm

B

Education cost: $ 79,982

Information

Years to start: 18
Start year: 2039

Alternatives

Decrease monthly saving by: $ -442
Invest today a lump sum of $ 33,234
Seek Education with a cost of: $ 234,944

Education anlysis is based on information last provided on Friday, June 18th, 2021 10:57 pm

qw

Education cost: $ 1

Information

Years to start: 12
Start year: 2033

Alternatives

Decrease monthly saving by: $ -1
Invest today a lump sum of $ 1
Seek Education with a cost of: $ 199

Education anlysis is based on information last provided on Monday, July 12th, 2021 8:43 pm

Future purchases down payment: $

of total $ future purchase/s

Alternatives

Decrease monthly saving by: $
Invest today a lump sum of $

Total Purchases Analysis

Your major purchases fund goal is $ .

Major purcheses anlysis is based on information last provided on Tuesday, September 15th, 2020 9:27 am

House down payment: $ 162,889

20% of $ 814,447 House cost

Information

Years to Purchase: 10

Alternatives

Decrease monthly saving by: $ -12
Invest today a lump sum of $ 98,900
Seek House with a down payment of: $ 164,701

Education anlysis is based on information last provided on Thursday, September 3rd, 2020 5:10 pm

House down payment: $ 88,326

20% of $ 441,632 House cost

Information

Years to Purchase: 5

Alternatives

Increase monthly saving by: $ 996
Invest today a lump sum of $ 68,824
Seek House with a down payment of: $ 20,281

Education anlysis is based on information last provided on Thursday, September 3rd, 2020 11:21 am

New Car down payment: $ 12,751

50% of $ 25,503 New Car cost

Information

Years to Purchase: 2

Alternatives

Increase monthly saving by: $ 360
Invest today a lump sum of $ 11,540
Seek New Car with a down payment of: $ 3,634

Education anlysis is based on information last provided on Thursday, September 3rd, 2020 11:23 am

House down payment: $ 11,041

10% of $ 110,408 House cost

Information

Years to Purchase: 5

Alternatives

Increase monthly saving by: $ 162
Invest today a lump sum of $ 8,603
Seek House with a down payment of: $ 0

Education anlysis is based on information last provided on Wednesday, June 12th, 2019 2:50 pm

House down payment: $ 19,321

5% of $ 386,428 House cost

Information

Years to Purchase: 5

Alternatives

Increase monthly saving by: $ 133
Invest today a lump sum of $ 15,055
Seek House with a down payment of: $ 10,243

Education anlysis is based on information last provided on Monday, March 4th, 2019 4:39 pm

House down payment: $ 81,149

20% of $ 405,746 House cost

Information

Years to Purchase: 5

Alternatives

Increase monthly saving by: $ 988
Invest today a lump sum of $ 63,232
Seek House with a down payment of: $ 13,658

Education anlysis is based on information last provided on Monday, February 11th, 2019 8:58 pm

Car cost: $ 3,000

Information

Years to Purchase: 1

Alternatives

Increase monthly saving by: $ 243
Invest today a lump sum of $ 2,854
Seek Car with a cost of: $ 0

Education anlysis is based on information last provided on Thursday, January 17th, 2019 1:34 pm

House down payment: $ 15,150

5% of $ 303,000 House cost

Information

Years to Purchase: 1

Alternatives

Decrease monthly saving by: $ -1,271
Invest today a lump sum of $ 14,413
Seek House with a down payment of: $ 30,825

Education anlysis is based on information last provided on Thursday, January 10th, 2019 9:27 pm

over 55s house cost: $ 138,468

Information

Years to Purchase: 30

Alternatives

Increase monthly saving by: $
Invest today a lump sum of $ 138,468
Seek over 55s house with a cost of: $

Education anlysis is based on information last provided on Sunday, December 16th, 2018 2:59 pm

over 55s house cost: $ 138,468

Information

Years to Purchase: 25

Alternatives

Increase monthly saving by: $
Invest today a lump sum of $ 138,468
Seek over 55s house with a cost of: $

Education anlysis is based on information last provided on Sunday, December 16th, 2018 3:08 pm

House down payment: $ 132,490

20% of $ 662,448 House cost

Information

Years to Purchase: 5

Alternatives

Increase monthly saving by: $ 940
Invest today a lump sum of $ 103,237
Seek House with a down payment of: $ 68,289

Education anlysis is based on information last provided on Friday, March 16th, 2018 2:56 pm

Weding cost: $ 20,000

Information

Years to Purchase: 1

Alternatives

Increase monthly saving by: $ 1,622
Invest today a lump sum of $ 19,027
Seek Weding with a cost of: $ 0

Education anlysis is based on information last provided on Tuesday, February 27th, 2018 11:19 pm

House down payment: $ 263,896

20% of $ 1,319,479 House cost

Information

Years to Purchase: 14

Alternatives

Do not change your current monthly contribution
Invest today a lump sum of $ 131,238

Education anlysis is based on information last provided on Sunday, January 28th, 2018 6:13 pm

Car cost: $ 20,000

Information

Years to Purchase: 10

Alternatives

Do not change your current monthly contribution
Invest today a lump sum of $ 12,143

Education anlysis is based on information last provided on Sunday, January 28th, 2018 6:17 pm

Investment Condo down payment: $ 76,491

20% of $ 382,454 Investment Condo cost

Information

Years to Purchase: 3

Alternatives

Decrease monthly saving by: $ -1,964
Invest today a lump sum of $ 62,040
Seek Investment Condo with a down payment of: $ 155,366

Education anlysis is based on information last provided on Tuesday, November 21st, 2017 1:58 am

house down payment: $ 165,612

20% of $ 828,061 house cost

Information

Years to Purchase: 5

Alternatives

Increase monthly saving by: $ 1,705
Invest today a lump sum of $ 129,046
Seek house with a down payment of: $ 49,156

Education anlysis is based on information last provided on Wednesday, May 2nd, 2018 1:21 am

Life insurance recomendation: $ 0

Information

Permamanet Insurance: $ 0
Temperary insurance: $ 0

Life insurance needs anlysis is based on information last provided on Tuesday, July 6th, 2021 12:52 pm

David Zohar

Zohar Financial
8662 Norwalk
Cote Saint Luc, QC H4W 2X6
CA
514 571 2130