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Columbia FinTech Boot Camp Homework - Programs to leverage the Plaid API to pull a test consumer's bank account details, visualize the data, and predict future savings via Monte Carlo simulation.

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API Homework - Financial Planner

Account Summary

My client has eight financial accounts with Plaid:

  • Plaid Checking
  • Plaid Saving
  • Plaid CD
  • Plaid Credit Card
  • Plaid Money Market
  • Plaid IRA
  • Plaid 401k
  • Plaid Student Loan

My client has a gross yearly income of $6000, and a monthly income of $500. My client's projected yearly income is $6085.

Over the past three months, my client spent a total of $31935.72, spending an average of $10645.24 per month. Roughly 70% of these expenditures were spent on transfers, followed by payments, and transactions on food/drinks and shopping.

Given that my client is outspending their monthly income by an average of $10145.24, it is my strong recommendation that my client severaly curb their spending.

Portfolio Planning

I've put together a model portfolio that I feel may benefit my client. This portfolio contains both the SPY and AGG funds with respective weightings of 60% and 40%.

Running a Monte Carlo analysis, I project that this portfolios should produce a return between 49% and 180% within a 10th and 90th confidence interval over the next 30 years.

If my client were to invest $20000 in this portfolio, this would equate to a return between $9800 and $36000. With a 4% withdrawal rate in retirement, this portfolio should exceed the needs of my clients expenditures. There is no need to invest more in this portfolio than $20000.

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Columbia FinTech Boot Camp Homework - Programs to leverage the Plaid API to pull a test consumer's bank account details, visualize the data, and predict future savings via Monte Carlo simulation.

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