Cash Flow

RM RM RM

Cash Inflow Azmir Zetty Total

Salary 174000 60000 234000

Bonus 29000 29000
Rental-Kajang 7200 7200
Rental-Seremban 10200 10200
Investment Return 150 240 390

(-) Deduction:
EPF (11%) 22330 6600 28930 *(Annual Salary + Bonus)*1
Tax 25920 4200 30120
Zakat 3000 1200 4200

Total Cash Inflow 159100 58440 217540

Cash Outflow Azmir Zetty Total

Insurance & Road Tax 2000 1200 3200

Maintenance 2500 1500 4000
Monthly Petrol & Toll 7200 480012000
Groceries 12000 12000
Utilitites 4800 4800
Eating Out 6000 6000
Books 1000 1000
Telephone 3600 3600
Clothing 3000 3000
Children School Needs 6000 6000
Personal Expenses 6000 6000
Maid 6000 6000
Club 3000 3000
Internet 1800 1800
Home Maintenance 1000 1000
Vacation Misc. 5000 2000 7000
Miscellaneous 3600 3600
Parents 7200 7200
Takaful 3600 1800 5400
Kajang Apartment Mangement Fees 1440 1440
Audi A4 26300 26300
Honda City 11871.43 11871.43
Sentul house 31037.63 31037.63
Total Cashflow out 144077.6 23171.43 167249.1

surplus/shortfall 15022.37 35268.57 50290.94

*(Annual Salary + Bonus)*11%
Hire Purchase

Audi A4

Car price 170000

downpayment 30000
pv 140000
n 7 84
n paid 3 36
n unpaid 4 48
i% 4.50%

SI 44100
SFV 184100
Monthly payment 2191.667 1y 26300
Amount Paid N PAID * MONTHLY PAYMENT 78900
Rebate [n (n+1)/N(N+1)]*SI = 14527.06
Balance SFV- AMOUNT PAID-REBATE 90672.94

depreciation 76500
Current value 93500 Case Study Current Value 90000

Honda City

pv 60000
n 7 84
n paid 2 24
n unpaid 5 60
i% 5.50%

SI 23100
SFV 83100

Monthly payment 989.2857 1y 11871.43

Amound Paid 23742.86
Rebate 11841.18
Balance 47515.97

depreciation 18000
current value 24000 Case Study Current Value 35000
*n kecil : bulan unpaid
*n besar : total bulan
*SI : Sum Interest
*SFV : Sum Future Value
Ammortization

Sentul House

PV 350000
n 25 300
n paid 2 24
n unpaid 23 276
I% 7.50% 0.00625 interest bahagi 12 bulan
Current Value 500000

PMT 2586.4691 1y 31037.63

IN 2187.5
PRN 398.9691

Outstanding Balance 339703.91

Sum IN 425940.74
Sum PRN 350000

*Calculator:
Step 1: CMPD Cari PMT
Step 2: AMRT Cari IN,PRN,BAL
Step 2: AMRT n paid = total bulan financing
cari SUM IN, SUM PRN

Seremban House
Current Value 370000

Kajang Apartment
Current Value 140000
Net Worth

Asset Azmir Zetty Total

Saving 5000 8000 13000

Current 10000 5000
Tabung Haji 1500 1500 3000
Dana Adib 5000 5000
Dana Al Aiman 8000 8000
Public Ittikal 5000 10000 15000
Audi A4 90000 90000
Honda City 35000 35000
EPF Balance 450000 100000 550000
Gold 25392.94 25392.94
Kajang House 140000
Seremban House 370000
Sentul House 500000
Shares 43925 43925
Total Asset 1245425 567892.9 1813318

Liability Azmir Zetty Total

Credit Card 5000 2000 7000

Sentul House 339703.9 339703.9
Audi A4 90672.94 90672.94
Honda City 47515.97 47515.97
Zakat Due 2564.875 1624.574 4189.449
Tax Due 0
Total Liability 437941.7 51140.54 489082.3

Net Worth 807483.3 516752.4 1324236

Gold Jewellery Calculation : (RM13,490/85g)*160g 25392.94

Zakat
Tax
Zakat Calculation

Zakat on Income

Income Component Azmir Zetty

Part A - INCOME COMPONENT
Salary 174000 60000
Bonus 29000 0
Rental-Kajang House 7200 0
Rental-Seremban House 0 10200
Investment return 150 240
Total Income 210350 70440

Part B - THRESHOLD (HAD KIFAYAH) DEDUCTION

Self 10750 10750
Wife 5000 0
Dependent not working (Azmir's Parent) 4600 0
Children 0 - 6 Years (Faizal & Farah) 2900 0
Child Care Cost 4600 0
Total threshold deduction 27850 10750

Part C - OTHER DEDUCTION

EPF Contribution 22330 6600
Tabung Haji 1500 1500
Other Deduction 23830 8100

Part D - ZAKATABLE INCOME

Zakatable Income 158670 51590
Zakat rate 2.50% 2.50%
Zakat on Income 3966.75 1289.75
Zakat already paid 3000 1200
Zakat on Income due 966.75 89.75

Zakat on wealth Azmir Zetty

Saving 5000 8000

Current 10000 5000
Dana Adib 0 5000
Dana Al Aiman 0 8000
Public Ittikal 5000 10000
Gold Jewellery 0 25392.94
Shares 43925 0
Total zakatable asset 63925 61392.94
Above nisab? Yes Yes
Zakat rate 2.50% 2.50%
Total zakat on wealth due 1598.125 1534.824

Total zakat due for wealth and income

wealth 1598.125 1534.824
income 966.75 89.75
Total 2564.875 1624.574
*
Nisab *RM13,490
Asset Allocation
Azmir Rate Amount Return
Saving account 3% 5000 150
Total Investment Return 150

Zetty Rate Amount Return

Saving account 3% 8000 240
Total Investment Return 240

Azmir's assets Rate Value Weight Weighted Return

Saving 3% 5000 0.025 0.0007
Current 3% 10000 0.049 0.0015
Tabung Haji 6.00% 0 0.000 0.0000 for hajj purpose only
Public Ittikal 8% 5000 0.025 0.0020
EPF 5% 0 0.000 0.0000 calculate separately
Kajang Apartment 6% 140000 0.687 0.0412
Sentul House 6% 0 0.000 0.0000 retirement
Audi A4 0% 0 0.000 0.0000 own use
Shares 8% 43925 0.215 0.0172
Total 203925 1.000 0.0626 6.26%

Zetty's assets Rate Value Weight Weighted Return

Saving 3% 8000 0.019 0.0006
Current 3% 5000 0.012 0.0003
Tabung Haji 6.00% 0 0.000 0.0000 for hajj purpose only
Dana Adib 8% 5000 0.012 0.0009
Dana Al Aiman 8% 8000 0.019 0.0015
Public Ittikal 8% 10000 0.023 0.0019
EPF 5% 0 0.000 0.0000 calculated separately
Seremban House 6% 370000 0.858 0.0515
Honda City 0% 0 0.000 0.0000 own use
Gold Jewellery 5% 25392.94 0.059 0.0029
Total 431392.9 1.000 0.0596 5.96%

*The rate of return on equity investment is 8%, REIT at 6% and savings account at 3%
*Future EPF Dividends are expected at 5% a year
*Unit trust is 8% and Tabung Haji is 6%
*Investment in Bitcoin has been giving 20% average return annually, gold bar 5% average return per annum
d separately

Equity Investment 8%
REIT 6%
Savings Account 3%
per annum EPF Dividends 5%
Unit Trust 8%
Tabung Haji 6%
Bitcoin Investment 20%
Gold Bar 5%
Hajj Planning

Cost: PV Rate n FV Financial Calculator:

Azmir CS 13650 5% 9 21175.63 CMPD (END)
Zetty CS 13650 5% 9 21175.63 CMPD (END)

Savings (TH): PV Rate n FV

Azmir CS 1500 6% 9 2534.218 CMPD (END)
Zetty CS 1500 6% 9 2534.218 CMPD (END)

Shortfall (Cost-Savings) FV
Azmir 18641.41
Zetty 18641.41

Lumpsum Saving (TH): Balance(Shortfall FV) Rate n PV

Azmir 18641.41175 6% 9 11033.82 CMPD (END)
Zetty 18641.41175 6% 9 11033.82 CMPD (END)

Annuity Yearly FV Rate n PMT

Azmir 18641.41175 6% 9 1530.39 CMPD (BEGIN)
Zetty 18641.41175 6% 9 1530.39 CMPD (BEGIN)

Annuity Monthly FV Rate n PMT

Azmir 18641.41175 1% 108 129.95
Zetty 18641.41175 1% 108 129.95
 Current Age n years to become 40 Years old Years Old of Hajj
Azmir 36 9 45
Zetty 31 9 40

Expected to inrease at the rate of 5% per annum (CS) 5%

Assumptions Tabung Haji 6% 6%
Hajj Package RM13,650
Education Planning

Name Current Age (Years Old) n more to further studies

Farah 6 12
Faizal 4 14

1 Cost, PV per Year i n

Farah 25000 5% 12
Faizal 30000 5% 14

2 Cost for 4-Years Degree, PMT i n

Farah 44896.40851 3.16504854368933 4
Faizal 59397.94798 3.16504854368933 4

3 Lumpsum Savings, FV ( (2)PV ) Azmir's Weightage Return, i n

Farah 171489.0999 6.26% 12
Faizal 226880.0774 6.26% 14

Annuity, FV i n
Farah 171489.0999 6.26% 12
Faizal 226880.0774 6.26% 14
Annuity, FV i/12 n*12
Farah 171489.0999 0.52% 144
Faizal 226880.0774 0.52% 168
Age Entering College n to Complete Degree n Completed Degree
18 4 21
18 4 21

Financial Calculator: Package Increase Rate 5%

FV CMPD (END) , SOLVE FV
44896.40851 Cost FV to further study 100000 divided by 4 to get average cost per year
59397.94798 Cost FV to further study 120000 divided by 4 to get average cost pGrowth
Inflation Rate
PV CMPD (BEGIN) , SOLVE PV Growth Adjusted Rate of Return (106.26/103-1)*100
171489.0999 Cost PV during study [(10Growth/10Inflation)-1]*100 i
226880.0774 Cost PV during study FV (1) = PMT (2) 3.1650485437

PV CMPD (END) , SOLVE PV

82755.86491 PV (2) = FV (3) PV (2) = Cost during study
96965.8926 PV (2) = FV (3) FV (3) = Savings to cover cost during study

Yearly, PMT CMPD (BEGIN) , SOLVE PMT

9422.225835
9976.157808
Monthly, PMT CMPD (BEGIN) , SOLVE PMT
797.97786
842.95596
 6.26% Azmir's Total Weightage Return %
3% CS:Assumptions
.26/103-1)*100 Excel's Calculation
Risk Management & Takaful Planning

Cash Outflow Azmir Adjustment New Expenses

Insurance & Road Tax 2000 Maintain 2000
Maintenance 2500 Maintain 2500
Monthly Petrol & Toll 7200 Reduce 3600
Groceries 12000 Reduce 10000
Utilitites 4800 Maintain 4800
Eating Out 6000 Reduce 4000
Books 1000 No Need 0
Telephone 3600 No Need 0
Clothing 3000 No Need 0
Children School Needs 6000 Maintain 6000
Personal Expenses 6000 No Need 0
Maid 6000 Maintain 6000
Club 3000 No Need 0
Internet 1800 Maintain 1800
Home Maintenance 1000 Maintain 1000
Vacation Misc. 5000 Reduce 3000
Miscellaneous 3600 Maintain 3600
Parents 7200 Maintain 7200
Takaful 3600 No Need 0
Apartment Mangement Fees 1440 Maintain 1440
Audi A4 26300 Assumed covered by Takaful 0
Sentul house 31037.6292 MRTT 0

Total New Expenses 56940

How much money needed to sustain Azmir's Family?

Assumed until Farah reached 23 Years Old (Farah Currently 6 Years Old) Unit Trust ASB *CS:A 8%

1. Capital Intact Method

56940/8%
Expense/ROI 711750

2. Capital Liquidation Method CMPD (BEGIN) , SOLVE PV

PMT 56940 Total New Expenses

n 17 23 Years old - 6 Years old
i 8% *Assume invest in Unit Trust ASB
PV 560936 Money needed by Azmir to save now

3. To cover Liability *Assume

Liability Azmir Adjustment New Liability

Credit Card 5000 Wife to payback 5000
Sentul House 339703.9144 MRTT 0
Audi A4 90672.941176 Covered by Takaful 0
Zakat Due 2564.875 No need 0

Total 437941.73058 Liability After Adjusted 5000

4. Amount of Takaful Needed

RM
Capital Intact Method 711750
Add: New Liability 5000
Total Sum Insured
Deduct: Existing Coverage
Individual Takaful 400000
Company Takaful 3 x 14500 x 12 522000
Total Coverage

Surplus Amount (-) symbol is indicate surplus

*Recommendation: Azmir don’t need to get extra protection since the existenc
RM205,250
1. Capital Intact Method Expense/ROI

2. Capital Liquidation Method Expense*10times

 RM

716750

Case study sentences (Page 2, Paragraph 8)

3 Total permanent disability benefit is three times of his annual base salary
922000 14500 Salary per month
12 Months in a year
-205250 400000 Coverage of 400,000

rotection since the existence coverage is enough to cover its expenses.

Retirement Planning

Name Current Age

Azmir 36
Zetty 31

1. Lumpsum Expense

Last Drawn Salary n

Azmir 24
Zetty 24

Monthly expenses after retirement = (46763.94918 + 16125.49972)*60%

Lumpsum Expenses, Yearly = 37733.66934*12

FV annual expense after 24 years PV

Years to Retire n
i
FV

2. Retirement Fund Needed after 24 Years PMT

Post-Retirement Period n
i
PV

3. Current EPF Balance Azmir

Balance, PV 450000
Years to retire, n 24
EPF Return, i 5%
EPF Balance, FV 1451294.975

4. Current EPF Contribution on Salary Deduction Azmir

Annual Income 174000

EPF (Individual + Company) 26%
Contribution (Salary X Total EPF Percentage), PMT 45240
Growth Adjusted Rate, i 0
Years to Retire, n 24
PV 1085760

FV when Azmir turns 60 years old and Zetty turns 55 years old Azmir
PV 1085760
Years to Retire, n 24
EPF Return, i 5%
FV 3501684.515

When Azmir turns 60 years old, he will receive:

EPF Balance = 3501684.515 + 1451294.975 4952979.49

Deduct: Zakat (2.5%) = 4952979.49 X 2.5% 123824.48725

Total Net EPF Balance = 4952979.49 - 123824.4873 4829155.00275

When Zetty turns 55 years old, she will receive:

EPF Balance = 1068153.101 + 322509.9944 1390663.0954

Deduct: Zakat (2.5%) = 1390663 X 2.5% 34766.577385

Total Net EPF Balance = 1390663.095 - 34766.57739 1355896.518015

5. Investment Value
Aiman
Total Assets Value, PV 203925
Years to Retire, n 24
Weighted Return, i 6.26%
FV 875681.0444

6. Rental

Kajang House (Azmir)

Annual Rental 7200

a) PV 7200
a) n 24
a) i 3%
FV when Azmir 60 Years Old and Zetty 55 Years Old 14636.11757

Post-Retirement
b) PMT 14636.11757
b) n 20
b) i 3%
PV at Azmir 60 Years Old and Zetty 55 Years Old 224280.9253

7. Retirement Available at Azmir 60y.o, Zetty 55y.o

RM
EPF Balance (Azmir) 1451294.975
EPF Balance (Zetty) 322509.9944
EPF Salary (Azmir) 4829155.00275
EPF Salary (Zetty) 1355896.518015
Investment Value 2606612.3217
Rental Income 542012.2362

Total (RM) 11107481.048065

Recommendation:
Azmir and Zetty need to reduce their expenses during retirement because its retirement funds available when retired are not
n Years to retire Age Retired n, Post-Retirement Period Age Expectancy
24 60 20 80
24 55 20 75

i PV FV
5% 14500 46763.94918
5% 5000 16125.49972

37733.66934

452804.03208

452804.03208
24
3%
920457.3839

920457.3839 CMPD (BEGIN) , SOLVE PV FV (1) = PMT (2)

20
3.16504854368933 Inflation Adjusted Rate= [(10Growth/10Inflation)-1]*100%
13914370.71 [(106.26/103)-1]*100%
0.03165048544
Zetty
100000 CS,Page 2, Para 1&2
24
5%
322509.9944

Zetty Azmir Zetty

EPF Individual 11% 11%
60000 EPF Company 15% 12%
23% Total EPF 26% 23%
13800
0 Growth Adjusted Rate= [(1+EPF Return/1+Salary Growth)-1]*100%
24 [(105/105)-1]*100%
331200 0

Zetty
331200 CMPD (BEGIN), SOLVE FV
24
5%
 1068153.101

Zetty
431392.941176471
24
5.96%
1730931.2773

Seremban House (Zetty)

10200

10200 CMPD (END) , SOLVE FV

24
3%
20734.49989

CMPD (BEGIN) , SOLVE PV

20734.49989 FV (a) = PMT (b)
20
3%
317731.3109
rement funds available when retired are not sufficient to cover their expenses
 Salary Expected Growth 5%
Retirement Income Percentage from Salary 60%
Inflation rate 3%
Future EPF Dividends 5%
Zakat 2.50%
Saving Return 3%

nflation)-1]*100%

1+Salary Growth)-1]*100%