Presentation Barry Mendelson gave in February to the East Bay Chapter of the American Society of Women Accountants.

1. Financial Planning Strategies for Individuals & Families Barry Mendelson, CFP® Financial Advisor & Partner 925-988-0330 x22 [email_address] As of March 31, 2011

2. Opinions expressed are those of Barry Mendelson, CFP® and Just Plans Etc. This presentation should not be construed as investment advice. The information contained in this presentation is compiled from sources believed to be reliable. Investments in securities involve the risk of loss. Past performance is no guarantee of future results. The markets can remain irrational longer than you can remain solvent. Disclosures

3. Barry Mendelson, CFP® Local investment and personal finance professional. More than 15 years experience working for leading financial services companies including Charles Schwab, AXA Rosenberg, Neuberger Berman, and Franklin Templeton. Prior to joining Just Plans Etc. in 2010, was a Vice President in Charles Schwab & Co’s $250 billion investment management division. Certified Financial Planner™ certificate holder since 2008. B.A. in Business Economics & Accounting from U.C. Santa Barbara in 1995. Just Plans Etc. Founded in 1983 and based in Walnut Creek, California - Just Plans is a fee-only wealth management firm and SEC registered investment advisor. Just Plans provides investment management and financial planning services to more than 100 individuals, families, and companies. The firm specializes in tax-efficient investing and helping investors realize meaningful value from qualified retirement plans, concentrated stocks positions, stock options, and other forms of equity. As a fiduciary, the firm puts the interests of the client above all else. About

6. Charles Schwab More than 30 years ago, Charles R. Schwab founded this firm with a clear mission: to empower individual investors to take control of their financial lives, free from the high costs and conflicts of traditional brokerage firms. His vision - to provide the most useful and ethical financial services in the world - continues to guide or values-driven approach to growth, client service, community involvement and employee development. Google Google’s mission is to organize the world‘s information and make it universally accessible and useful. Don’t be evil. (Unofficial). Create a (Family) Mission Statement

11. Not Everything is in Your Control CONTROL How much I save How much I spend Lifestyle - # of homes, travel, autos. Allocation of assets (amount of risk) When I retire How much insurance I have How much I give to charity How much I make Begin Social Security Benefits NO CONTROL Markets Death - genetics Children’s behavior Reimbursements Disability Inflation Tax rates & political conditions Weather The Media

12. Define Your Lifestyle Goals For each Goal, establish Ideal and Acceptable amounts. Lifestyle Goals Ideal Basic Living Expenses $$$ Car $$$ Travel $$$ Boat $$$ Lifestyle Goals Ideal Acceptable Basic Living Expenses $$$ $ Car $$$ $ Travel $$$ $ Boat $$$ $ Acceptable Range Lifestyle Goals Basic Living Expenses Car Travel Boat

13. Define Your Lifestyle Goals Acceptable Range Retirement Age Ideal Acceptable How willing are you to retire later? You 60 66 Somewhat Willing Your Spouse 62 70 Very Willing Retirement Age Ideal Acceptable You 60 66 Your Spouse 62 70 Retirement Age Ideal You 60 Your Spouse 62

14. Plan for Future Living Expenses Acceptable Range Importance Lifestyle Goals Ideal Acceptable Needs 10 Basic Living Expense $70,000 $66,000 8 Your Lexus $35,000 $25,000 Wants 7 Annual Travel Fund $18,000 $12,000 6 Your Spouse’s Honda $25,000 $15,000 Wishes 3 Renovate Kitchen $50,000 $25,000 2 Gifts to Children $10,000 $0 Total Spending for Life of Plan $2,615,000 $2,130,000 19% < Ideal

15. Range of Ideal and Acceptable Goals IDEAL ACCEPTABLE Retirement Age: 60 66 62 70 Retirement Income: $160,000 $145,000 Risk Tolerance: No Risk Moderate Estate: $1,000,000 $100,000 Education: Law School $ - Savings: -$15,000 +$10,000 Travel (other): $25,000 $15,000

16. Annual Savings to Accumulate $1 Million by Age 65 Annual Savings

17. What Kind of Investor Are You? Very Conservative Conservative Moderate Aggressive Very Aggressive Can you get the RETURN you need at the RISK level you’re willing to accept?

18. Agenda 2. Investment Planning

19. S&P 500 Index Returns Charts reflect index levels (price change only). All returns and annotations reflect total return, including dividends. Jan-10 Jun-10 Oct-10 Apr-11 1,000 1,100 1,200 1,300 1,400 S&P 500 Index 2010: +15.1% 1Q11: +5.9% Jan-07 May-08 Oct-09 Apr-11 600 800 1,000 1,200 1,400 1,600 S&P 500 Index Since 10/9/07 Peak: -8.5% Since 3/9/09 Low: +104.5% Source: Russell Investment Group, Standard & Poor’s, FactSet, J.P. Morgan Asset Management. All calculations are cumulative total return, including dividends reinvested for the stated period. Since Market Peak represe nts period 10/9/07 – 3/31/11, illustrating market returns since the most recent S&P 500 Index high on 10/9/07. Since Market Low represents period 3/9/09 – 3/31/11, illustrating market returns since the S&P 500 Index low on 3/9/09. Returns are cumulative returns, not annualized. For all ti me periods, total return is based on Russell - style indexes with the exception of the large blend category, which is reflected by th e S&P 500 Index. Past performance is not indicative of future returns. Data are as of 3/31/11.

20. Various Asset Class Returns Source: Russell, MSCI Inc., Dow Jones, Standard and Poor’s, Barclays Capital, NAREIT, J.P. Morgan Asset Management. The “Asset Allocation” portfolio assumes the following weights: 25% in the S&P 500, 10% in the Russell 2000, 15% in the MSCI EAF E, 5% in the MSCI EMI, 30% in the Barclays Capital Aggregate, 5% in the CS/Tremont Equity Market Neutral Index, 5% in the DJ UBS Commodity Index and 5% in the NAREIT Equity REIT Index. Balanced portfolio assumes annual rebalancing. All data except commodities represent total return for stated peri od. Past performance is not indicative of future returns. Data are as of 3/31/11, except for the CS/Tremont Equity Market Neutral Index, which reflects data through 2/28/11. “ 10 - yrs” returns represent cumulative total return and are not annualized. These returns reflect the period from 1/1/01 – 12/31/10. Please see disclosure page at end for index definitions. * Market Neutral returns include estimates found in disclosures. Data are as of 3/31/11. 10-yrs 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 1Q11 '01 - '10 REITs REITs DJ UBS Cmdty MSCI EME REITs MSCI EME REITs MSCI EME Barclays Agg MSCI EME REITs Russell 2000 MSCI EME 26.4% 13.9% 23.9% 56.3% 31.6% 34.5% 35.1% 39.8% 5.2% 79.0% 28.0% 7.9% 350.0% DJ UBS Cmdty Market Neutral Barclays Agg Russell 2000 MSCI EME DJ UBS Cmdty MSCI EME MSCI EAFE Market Neutral MSCI EAFE Russell 2000 REITs REITs 24.2% 9.3% 10.3% 47.3% 26.0% 17.6% 32.6% 11.6% 1.1%* 32.5% 26.9% 7.5% 178.0% Market Neutral Barclays Agg Market Neutral MSCI EAFE MSCI EAFE MSCI EAFE MSCI EAFE DJ UBS Cmdty Asset Alloc. REITs MSCI EME S&P 500 Russell 2000 15.0% 8.4% 7.4% 39.2% 20.7% 14.0% 26.9% 11.1% -23.8% 28.0% 19.2% 5.9% 84.8% Barclays Agg Russell 2000 REITs REITs Russell 2000 REITs Russell 2000 Market Neutral Russell 2000 Russell 2000 DJ UBS Cmdty DJ UBS Cmdty Asset Alloc. 11.6% 2.5% 3.8% 37.1% 18.3% 12.2% 18.4% 9.3% -33.8% 27.2% 16.7% 4.4% 80.2% Asset Alloc. MSCI EME Asset Alloc. S&P 500 Asset Alloc. Asset Alloc. S&P 500 Asset Alloc. DJ UBS Cmdty S&P 500 S&P 500 Asset Alloc. Market Neutral 0.6% -2.4% -5.4% 28.7% 12.5% 8.0% 15.8% 7.3% -36.6% 26.5% 15.1% 3.7% 76.9% . Russell 2000 Asset Alloc. MSCI EME Asset Alloc. S&P 500 Market Neutral Asset Alloc. Barclays Agg S&P 500 Asset Alloc. Asset Alloc. MSCI EAFE Barclays Agg -3.0% -3.4% -6.0% 25.2% 10.9% 6.1% 14.9% 7.0% -37.0% 22.5% 12.7% 3.5% 76.3% S&P 500 S&P 500 MSCI EAFE DJ UBS Cmdty DJ UBS Cmdty S&P 500 Market Neutral S&P 500 REITs DJ UBS Cmdty MSCI EAFE Market Neutral MSCI EAFE -9.1% -11.9% -15.7% 22.7% 7.6% 4.9% 11.2% 5.5% -37.7% 18.7% 8.2% 2.3% 47.1% MSCI EAFE MSCI EAFE Russell 2000 Market Neutral Market Neutral Russell 2000 Barclays Agg Russell 2000 MSCI EAFE Barclays Agg Barclays Agg MSCI EME DJ UBS Cmdty -14.0% -21.2% -20.5% 7.1% 6.5% 4.6% 4.3% -1.6% -43.1% 5.9% 6.5% 2.1% 41.7% MSCI EME DJ UBS Cmdty S&P 500 Barclays Agg Barclays Agg Barclays Agg DJ UBS Cmdty REITs MSCI EME Market Neutral Market Neutral Barclays Agg S&P 500 -30.6% -22.3% -22.1% 4.1% 4.3% 2.4% -2.7% -15.7% -53.2% 4.1% -2.5% 0.4% 15.1%

21. Global Commodities '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 0 50 100 150 200 250 300 350 400 450 500 0 500 1000 1500 2000 2500 '96 '97 '98 '99 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 Source: Dow Jones/UBS, FactSet, J.P. Morgan Asset Management. Commodity prices represented by the appropriate DJ/UBS Commodity sub - index. Data reflect most recently available as of 3/31/11. Source: USDA, BP Statistical Review of World Energy, J.P. Morgan Asset Management . Data are as of 3/31/11. Commodity Prices Weekly index prices rebased to 100 Precious metals Industrial metals Energy Livestock Grains Oil Demand: Emerging Markets Share Emerging markets as % of total global oil consumption Grain Demand: Emerging vs. Developed Markets Millions of metric tons Emerging Markets Developed Markets 30% 32% 34% 36% 38% '96 '97 '98 '99 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09

22. Monthly: January 1926 - December 2010 CRSP data provided by the Center for Research in Security Prices, University of Chicago. The S&P data are provided by Standard & Poor's Index Services Group. US long-term bonds, bills, inflation, and fixed income factor data © Stocks, Bonds, Bills, and Inflation Yearbook™, Ibbotson Associates, Chicago (annually updated work by Roger G. Ibbotson and Rex A. Sinquefield). $8,201 Small Cap (CRSP 6-10 Index) $2,590 Large Cap (S&P 500 Index) $85 Long-Term Government Bonds Index $20 Treasury Bills $12 Inflation (CPI) $10,000 $1,000 $100 $10 $1 $0 1926 1936 1946 1956 1966 1976 1986 1996 2006 2010 Growth of Wealth

23. S&P 500 Index (USD) Daily Returns: January 1, 1926 - December 31, 2010 Bull and Bear Markets Indices are not available for direct investment; its performance does not reflect the expenses associated with the management of an actual portfolio. Past performance is no guarantee of future results. The S&P data are provided by CRSP (January 1, 1926–August 31, 2008) and Bloomberg (September 1, 2008–present). Returns include reinvested dividends. Bull and bear markets are defined in hindsight using cumulative daily returns. A bear market (1) begins with a negative daily return, (2) must achieve a cumulative return less than or equal to -10%, and (3) ends at the most negative cumulative return prior to achieving a positive cumulative return. All data points which are not considered part of a bear market are designated as a bull market. Performance data represents past performance and does not predict future performance. Average Duration Bull Market: 413 Days Bear Market: 220 Days Average Return Bull Market: 58% Bear Market: -21% 220% -13% -85% 20% -16% -39% 119% 87% 27% -15% -10% -13% 100% 44% -53% 25% 40% -13% -14% 26% -25% 22% -11% 23% -33% 83% -11% 99% -26% 19% -11% -16% 26% 53% 91% -13% 121% -11% 26% -13% 18% 69% -21% -11% 44% -27% 15% 96% -11% 59% -27% -10% -21% -32% 56% -12% 38% -45% 22% -13% 50% -13% 38% -15% 27% -13% 26% -10% 21% -16% 48% -20% 78% -11% 156% -33% 73% -10% 16% -19% 303% -12% 37% 50% -19% -12% 23% -11% 13% -47% 21% -14% 113% 03/09/2009 -55% 12/31/2010 -13% 1% 1925 1930 1935 1940 1945 1950 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010

24. Historical returns by holding period - 37% - 8% - 15% - 2% - 2% 1% - 1% 1% 2% 6% 1% 5% 51% 43% 32% 28% 23% 21% 19% 16% 17% 18% 12% 14% - 40% - 30% - 20% - 10% 0% 10% 20% 30% 40% 50% 60% 1 - yr. 5 - yr. rolling 10 - yr. rolling 20 - yr. rolling Annual total returns, 1950 - 2010 Range of Stock, Bond, and Blended Total Returns Asset Sources: Barclays Capital, FactSet , Robert Shiller , Strategas /Ibbotson, Federal Reserve, J.P. Morgan Asset Management. Data are as of 12/31/10. 50/50 Portfolio 9.0% $ 559,744 Bonds 6.2% $ 336,138 Stocks 10.9% $ 792,519 Annual Avg. Total Return 50/50 Portfolio Bonds Stocks Growth of $100,000 over 20 years

25. Diversification and the Average Investor 20 - year Annualized Returns by Asset Class ( 1991 – 2010) (Top) Indexes and weights of the traditional portfolio are as follows: U.S. stocks: 55% S&P 500, U.S. bonds: 30% Barclays Capital Aggregate. International stocks: 15% MSCI EAFE/ Portfolio with 25% in alternatives is as follows: U.S. stocks: 22.1% S&P 500, 8.8% Russell 2000; International Stocks: 4.4% MSCI EM, 13.2% MSCI EAFE; U.S. Bonds: 26.5% Barclays Capital Aggregate; Alternatives: 8.3% CS/Tremont Equity Market Neutral, 8.3% DJ/UBS Commodities, 8.3% NAREIT Equity REIT Index. Return and standard deviation calculated using Zephyr. Charts are shown for illustrative purposes only. Past returns are no guarantee of future results. Diversification does not guarantee investment returns and does not eliminate risk of loss. Data are as of 12/31/10. (Bottom) Indexes used are as follows: REITS: NAREIT Equity REIT Index, EAFE: MSCI EAFE, Oil: WTI Index, Bonds: Barclays Capital U.S. Aggregate Index, Homes: median sale price of existing single - family homes, Gold: USD/troy oz, Inflation: CPI. Average asset allocation investor return is based on an analysis by Dalbar Inc. which utilizes the net of aggregate mutual fund sales, redemptions and exchanges each month as a measure of investor behavior. Returns are annualized (and total return where applicable) and represent the 20 - year period ending 12/31/10 to match Dalbar’s most recent analysis. Traditional Portfolio More Diversified Portfolio Return: 6.86% Standard Deviation: 11.12% Return: 7.92% Standard Deviation: 9.99% Maximizing the Power of Diversification (1994 – 2010) 55% 15% 30% S&P 500 MSCI EAFE Barclays Agg. 8% 8% 8% 22% 9% 13% 4% 26% Equity Mkt. Neutral Commodities REIT S&P 500 Russell 2000 MSCI EAFE MSCI EM Barclays Agg. 10.5% 8.0% 7.7% 7.2% 6.1% 4.7% 2.8% 2.6% 2.4% 0% 2% 4% 6% 8% 10% 12% REITS Oil S&P 500 Gold Bonds EAFE Homes Average Investor Inflation

26. Various Asset Class Returns Source: Russell, MSCI Inc., Dow Jones, Standard and Poor’s, Barclays Capital, NAREIT, J.P. Morgan Asset Management. The “Asset Allocation” portfolio assumes the following weights: 25% in the S&P 500, 10% in the Russell 2000, 15% in the MSCI EAF E, 5% in the MSCI EMI, 30% in the Barclays Capital Aggregate, 5% in the CS/Tremont Equity Market Neutral Index, 5% in the DJ UBS Commodity Index and 5% in the NAREIT Equity REIT Index. Balanced portfolio assumes annual rebalancing. All data except commodities represent total return for stated peri od. Past performance is not indicative of future returns. Data are as of 3/31/11, except for the CS/Tremont Equity Market Neutral Index, which reflects data through 2/28/11. “ 10 - yrs” returns represent cumulative total return and are not annualized. These returns reflect the period from 1/1/01 – 12/31/10. Please see disclosure page at end for index definitions. * Market Neutral returns include estimates found in disclosures. Data are as of 3/31/11. 10-yrs 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 1Q11 '01 - '10 REITs REITs DJ UBS Cmdty MSCI EME REITs MSCI EME REITs MSCI EME Barclays Agg MSCI EME REITs Russell 2000 MSCI EME 26.4% 13.9% 23.9% 56.3% 31.6% 34.5% 35.1% 39.8% 5.2% 79.0% 28.0% 7.9% 350.0% DJ UBS Cmdty Market Neutral Barclays Agg Russell 2000 MSCI EME DJ UBS Cmdty MSCI EME MSCI EAFE Market Neutral MSCI EAFE Russell 2000 REITs REITs 24.2% 9.3% 10.3% 47.3% 26.0% 17.6% 32.6% 11.6% 1.1%* 32.5% 26.9% 7.5% 178.0% Market Neutral Barclays Agg Market Neutral MSCI EAFE MSCI EAFE MSCI EAFE MSCI EAFE DJ UBS Cmdty Asset Alloc. REITs MSCI EME S&P 500 Russell 2000 15.0% 8.4% 7.4% 39.2% 20.7% 14.0% 26.9% 11.1% -23.8% 28.0% 19.2% 5.9% 84.8% Barclays Agg Russell 2000 REITs REITs Russell 2000 REITs Russell 2000 Market Neutral Russell 2000 Russell 2000 DJ UBS Cmdty DJ UBS Cmdty Asset Alloc. 11.6% 2.5% 3.8% 37.1% 18.3% 12.2% 18.4% 9.3% -33.8% 27.2% 16.7% 4.4% 80.2% Asset Alloc. MSCI EME Asset Alloc. S&P 500 Asset Alloc. Asset Alloc. S&P 500 Asset Alloc. DJ UBS Cmdty S&P 500 S&P 500 Asset Alloc. Market Neutral 0.6% -2.4% -5.4% 28.7% 12.5% 8.0% 15.8% 7.3% -36.6% 26.5% 15.1% 3.7% 76.9% . Russell 2000 Asset Alloc. MSCI EME Asset Alloc. S&P 500 Market Neutral Asset Alloc. Barclays Agg S&P 500 Asset Alloc. Asset Alloc. MSCI EAFE Barclays Agg -3.0% -3.4% -6.0% 25.2% 10.9% 6.1% 14.9% 7.0% -37.0% 22.5% 12.7% 3.5% 76.3% S&P 500 S&P 500 MSCI EAFE DJ UBS Cmdty DJ UBS Cmdty S&P 500 Market Neutral S&P 500 REITs DJ UBS Cmdty MSCI EAFE Market Neutral MSCI EAFE -9.1% -11.9% -15.7% 22.7% 7.6% 4.9% 11.2% 5.5% -37.7% 18.7% 8.2% 2.3% 47.1% MSCI EAFE MSCI EAFE Russell 2000 Market Neutral Market Neutral Russell 2000 Barclays Agg Russell 2000 MSCI EAFE Barclays Agg Barclays Agg MSCI EME DJ UBS Cmdty -14.0% -21.2% -20.5% 7.1% 6.5% 4.6% 4.3% -1.6% -43.1% 5.9% 6.5% 2.1% 41.7% MSCI EME DJ UBS Cmdty S&P 500 Barclays Agg Barclays Agg Barclays Agg DJ UBS Cmdty REITs MSCI EME Market Neutral Market Neutral Barclays Agg S&P 500 -30.6% -22.3% -22.1% 4.1% 4.3% 2.4% -2.7% -15.7% -53.2% 4.1% -2.5% 0.4% 15.1%

27. Agenda 3. Lessons for the Future

31. Articles: Creating a Family Mission Statement Creating a Personal Disaster Plan for Your Home, Your Loved Ones and Your Finances Budget Worksheet The Organizer More articles at: www.justplans-etc.blogspot.com Barry Mendelson, CFP® Financial Advisor & Partner 925-988-0330 ext. 22 1399 Ygnacio Valley Rd, Suite 24 [email_address] Walnut Creek, CA 94598 www.JustPlans-Etc.com Resources