Free Financial Plan Template for “DEWK” (Dually Employed With Kids) Caught in the “Middle Class Trap”
This is a Financial Planning Toolkit Item – a Sample Financial Plan. It’s Scott Trench’s best attempt at solving the “Middle Class Trap” problem common to many BiggerPockets Money listeners – who are starting to build meaningful net worth, but feel that their wealth is illiquid – not actually solving core challenges for them, or providing optionality. This is not YOUR financial plan – it is for illustrative and educational purposes only. We hope you like it. The plan is free. No email required. Just click the button below to make a copy in Google Drive, and/or download a .docx (MS Word) version to your device.
How to use
- Download the Template as a Word Document: Read it. Challenge it. Modify it.
- Make a Copy of the Google Doc: Read it. Challenge it. Modify it.
- Use the Template and it’s Illustration of “Good Strategy”: Do not follow the plan blindly. Rather, use it as a learning experience, and consider your own situation, your own goals, and the hard tradeoffs central to “Good Strategy”.
In this resource:
- Find an illustrative financial plan.
- Sections, breaking out the example household’s net worth, spending, income, and goals.
- Examples/options of major strategic choices for the household to consider.
- A specific, detailed, financial plan, including step by step order of operations recommendations.
- A detailed checklist of personal finance best practices, and specific recommended implementation derived from the core strategic diagnosis.
Why use this
Financial Planning Template
We are not aware of another artifact that even attempts this as an exercise at the time of publication.
Better decision-making
Provides a clear framework that defines “Good Strategy” and does not shy away from implementing that strategy, despite hard tradeoffs.
Modifiable
As long as you don’t repurpose it for commercial purposes, we encourage you to modify it and use it to advance your goals, whatever they may be.
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