Declaration of Financial Empowerment
Worksheets
30
FINANCIAL PLANNING WORKSHEET
Our first worksheet is designed to give you an overview of your financial state,
pointing out both strengths and weaknesses.
STEP 1: List your financial goals.
G o a l Amount Needed Time Frame
1 ___________ $ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
2 ___________ $ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
3 ___________ $ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
For example, buying a house, paying off school loans, saving
for additional educational expenses, paying off credit card
debt, investing for re t i rement, etc.
STEP 2: Take stock of your net wort h .
Your Assets Your Debts
Checking accounts $ ______ C redit card balances
$ ________
Savings accounts $ ______ School loans $ ________
Money market account $ ______ Car loans $ ________
Cash value of life insurance $ ______ M o rt g a g e $ ________
Bank CDs $ ______ O t h e r $ ________
Mutual funds $ ______
S t o c k s $ ______
B o n d s $ ______
I R A $ ______
4 0 1 ( k ) $ ______
O t h e r $ ______
T O TA L $ ______ T O TA L $ _ _ _ _ _ _ _ _
Your Assets Minus Your Debts = Your Net Wo rt h
You could, of course, have more debts than assets, particularly if you have
recently graduated and have yet to achieve your full earnings potential.
The amount of your net worth, positive or negative, is less important than
the fact that you actually complete this worksheet and know where you
stand. Taking stock of your finances is a critical tool to nudge you forw a rd
as a saver and investor. Finally, it also pays to remember that this
Financial Planning Worksheet captures your financial standing at one par-ticular
moment in time. Consequently, it is a good idea to figure out your
net worth every six months or so to make sure that you are still on track.
STEP 3: D e t e rmine how much you need to save in order to
meet your goals.
O b v i o u s l y, the amount you need to save and invest is appro x i m a t e l y
the diff e rence between what you want (your financial goals) and what
you have (your net wort h ) .
Total Amount of Your Goal Minus Net Wo rth=Amount Yo u
Need to Save and Invest
STEP 4: D e t e rmine how much you need to save each month
to meet your goals given the time frame that you outlined
in Step 1.
STEP 5: F i g u re out where your earnings are going and
w h e re you may be able to adjust in order to meet your
financial goals.
Your Total Monthly Income:
Your salary or wages $ ________________
Dividends and intere s t $ ________________
T O TAL INCOME $ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
Your Total Monthly Expenses:
Rent or mortgage payment $ ___________________
U t i l i t i e s $ ___________________
Te l e p h o n e $ ___________________
C a b l e $ ___________________
Household maintenance $ ___________________
Tr a n s p o rtation/car payments $ ___________________
Car maintenance $ ___________________
C redit card s $ ___________________
School loans payments $ ___________________
I n s u r a n c e $ ___________________
F o o d $ ___________________
E n t e rt a i n m e n t $ ___________________
M e d i c a l $ ___________________
U t i l i t i e s $ ___________________
Tu i t i o n / e d u c a t i o n $ ___________________
R e s t a u r a n t $ ___________________
D ry cleaning $ ___________________
Club memberships $ ___________________
Va c a t i o n s $ ___________________
O t h e r $ ___________________
Savings and investments: $ ___________________
I R S $ ___________________
4 0 1 ( k ) $ ___________________
O t h e r $ ___________________
T O TAL INCOME $ ___________________
Total Income Minus Total Expenses = Net Monthly Cash Flow

31
RETIREMENT PLANNING WORKSHEET
Want to know when you’ll be able to re t i re? How much you need to save each year to get there? Use our
R e t i rement Worksheet. State Street Research & Management Co., a Boston-based money management and
mutual fund sponsor, helped in the development.
1 . C u rrent annual income (you and your spouse com-b
i n e d )
______________ $80,000
2 . D e s i red re t i rement income
______________ $60,000
3 . Estimated Social Security and pension income
______________ $20,000
4 . Income needed from personal savings (includes
t a x - d e f e rred plans and portfolio investments)
Subtract (3) from (2) ______________ $40,000
5 . D e s i red re t i rement age (Make note of the income
multiple that fits your wishes)
R e t i re m e n t I n c o m e
A g e M u l t i p l e
5 0 - 5 4 2 6
5 5 - 5 9 2 3
6 0 - 6 4 2 0
65 & Over 1 7
(For our model, we’ll use 20)
6 . N e c e s s a ry personal savings
Multiply (5) by (4) ______________ $800,000
Number (6) is your re t i rement savings goal.
N o w, determine how to get there .
7 . Total personal savings now
______________ $250,000
( Your IRA, annuities, insurance policies, etc.)
8 . A p p roximate years until re t i re m e n t
R e t i re m e n t G rowth Multiple
Ye a r s to Retire m e n t
8 2
1 2 3
1 6 4
2 0 5
2 4 6
( We’ll use 8 for a multiple of 2 in our model)
9 . Estimated value of current personal savings at
re t i re m e n t
Multiply ( by (7) _____________ $500,000
1 0 . Savings short f a l l
Subtract (9) from (6) ___________ $300,000
1 1 . A p p roximate years until re t i re m e n t
Savings Factor
8 . 1 0 0
1 2 . 0 7 0
1 6 . 0 4 5
2 0 . 0 3 2
2 4 . 0 2 5
( We’ll assume 8—a factor of .100 in our model)
______________ .100
1 2 . Annual savings necessary
Multiply (11) by (10) _____________ $30,000

Declaration of Financial Empowerment
Worksheets
ASSET ALLOCATION WORKSHEET
This is our third worksheet in the investing series. It’s designed to help you shape
your model portfolio and then re c o n f i g u re your current holdings to fit.
STEP 1.
WHERE YOU CURRENTLY STA N D
List your port f o l i o ’s holdings and the amount presently invested in whatever
stocks and mutual funds, as well as bonds, that you own.
STOCKS/STOCK FUNDS B O N D S
T O TAL PORTFOLIO: _____________________
STEP 2.
DIVVYING IT ALL UP
Calculate how your assets are divided up.
STOCKS ________________________ BONDS __________________
S T O C K S / T O TAL PORTFOLIO _______________ ( p e rcentage invested in stocks)
B O N D S / T O TAL PORTFOLIO _______________ ( p e rcentage invested in stocks)
STEP 3.
SUGGESTED WEIGHTINGS
Calculate roughly how much you should have invested in each asset class.
Example: A 50-year-old should look to have roughly half of his or her invest-ment
portfolio in bonds, and 100 minus his or her age, or 50% of the port f o l i o ,
in stocks.
A G E Your optimal bond weighting as 100 minus your bond weighting
p e rcentage of portfolio (the (suggested stock weighting as
p e rcentage here equals your age) p e rcentage of port f o l i o )
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
32
We suggest that you consider your
p rofile as an investor from work-sheet
two for the next part of Step
T h ree, tailoring your weighting to
fit your style. Example; Yo u ’ re a
5 0 - y e a r-old playing catch-up. Yo u
feel the need to invest aggre s s i v e l y
in the market and decide that a
50% weighting in bonds should be
l o w e red to 40% for the time being.
Or conversely, if you’re risk-averse
and feel comfortable with the
amount you’ve saved, you might
opt to stick to 50% in bonds or
even up fixed-income weighting
to 55% or 60%.
A g g ressive Investor: You can
stomach extra risk, and you’re
p re p a red to endure whatever
fluctuations the stock market has
to off e r. Add 10%, but no more
than 15%, to your stock weighting
if you’re a dare d e v i l .
Moderately aggressive investors:
Add 5%, but no more than 10%,
to your stock weighting.
Moderately conserv a t i v e
investors: You want to be in the
market but are a bit nervous about
having too much tied up in stocks.
Add 5% to your bond weighting.
A rc h c o n s e rvative investors: Yo u
get a bad case of the jitters the
minute you go to the newspaper’s
stock listings. Yo u ’ re willing to
f o rgo the extra punch stocks add
to your portfolio. Add 10% to your
bond weighting.

33
TRACK YOUR DAILY SPENDING
The chart below illustrates how you can track your daily spending. Feel free to change the column headings
to track your expenditures on a monthly or annual basis. In addition, modify the chart
by adding categories that reflect your spending habits.
WEEK # / MONTH / YEAR
DEPENDENT CARE
C l o t h e s
C h i l d c a re
P e t s
T O TA L S
T R A N S P O RTAT I O N
Car Pmnt
G a s
M a i n t e n a n c e
P a r k i n g / To l l
B u s /B A RT
I n s u r a n c e
T O TA L S
E N T E RTA I N M E N T
M o v i e s
Video Rental
C o n c e rt / T h r
D a t i n g
T O TA L S
I N V E S T M E N T S
Svgs (Cush)
Va c a t i o n
R e t i re m e n t
T O TA L S
M I S C E L L A N E O U S
T O TA L S
S E L F - C A R E
C l o t h i n g
S h o e s
A c c e s s o r i e s
H a i rc a re
To i l e t r i e s
M a n i c u re
M a s s a g e
M e d i c a l
C l n r s / L n d ry
L i f e / D i s a b
T O TA L S
F O O D
G ro c e r i e s
B re a k f a s t
L u n c h
D i n n e r
S n a c k s
G u e s t s
T O TA L S
M T W T F S S
M T W T F S S
R E C O V E RY / S E L F - I M P R O V E M E N T
S p i r i t u a l
T h e r a p y
Fin Advice
T O TA L S
S H E LT E R
H o u s i n g
P h o n e
Wa t e r / G r b
G a s / E l e c
C a b l e
P a p e r
H o u s e h o l d
I n s u r a n c e
H s e k e e p e r
T O TA L S