Family Financial Report
Prepared by Your Highly Paid (and Funny) Wealth Manager
Summary of Data Used
| Date Range | 621 days |
|---|---|
| Total Spending | [REDACTED] |
| Average Monthly Spending | [REDACTED] |
| Highest Spending Month | June 2023 |
Monthly Spending and Word Cloud
As you can see from the image above, our spending habits resemble the stock market—full of peaks and troughs. June 2023, in particular, looks like we decided to fund a small nation.
The word cloud above highlights where most of our funds are going. Food and travel dominate the scene, suggesting that we might have a penchant for fine dining and wanderlust—good for the soul, maybe less so for the wallet.
Projections for Annual Costs
Based on current spending trends, our annual costs are projected to be around [REDACTED]. Factoring in potential inflation (let's say a modest 3% because hope springs eternal) and lifestyle changes (like deciding to buy a pet tiger), we might be looking at an annual cost of [REDACTED].
Suggested Budget by Category
| Category | Annual Budget | Weekly Budget |
|---|---|---|
| Food & Travel | [REDACTED] | [REDACTED] |
| Groceries | [REDACTED] | [REDACTED] |
| Utilities & Insurance | [REDACTED] | [REDACTED] |
| Miscellaneous | [REDACTED] | [REDACTED] |
| Entertainment | [REDACTED] | [REDACTED] |
| Other | [REDACTED] | [REDACTED] |
Sustainability Outline
To sustain the suggested budget, an annual income of around [REDACTED] is needed. Assuming a tax rate of 25%, the pre-tax income required is approximately [REDACTED]. So, if anyone in the family is considering a career change, now might be a good time to aim for that CEO position—or at least something with a decent bonus structure.
Sustainability with Investment Income
Assuming we have [REDACTED] invested in medium-risk securities with an expected return of 5%, we can expect an annual investment income of [REDACTED]. Adding this to the required post-tax income of [REDACTED], the employment income needed drops to a much more palatable [REDACTED]. Essentially, this means we can afford to be a little less workaholic and a little more beach bum.