Wealth Generation Case Study
Client situation:
| Situation | Bob | Jane |
|---|---|---|
| Age | 43 | 38 |
| Salary | $120,000 p.a. | $30,000 p.a. |
| House | $800,000 with $420,000 mortgage | |
| Shares | $15,000 | $0 |
| Super | $140,000 | $80,000 |
| Health | Good health | |
| Children | Chloe age 7, Isabel 3 and Oliver age 10 | |
| Insurance | Adequate general & personal insurance | |
Our Advice
- Ascertain current saving capacity.
- Devise a wealth creation strategy, including possible gearing and debt recycling strategies.
- Consider the need for asset protection.
- Superannuation salary sacrificing and other possible salary packaging.
- Consider government schemes such as the superannuation government co-contribution scheme.
- Estate planning including superannuation assets which do not form part of a person’s estate, Enduring Powers of Attorneys, medical directives, etc.
- Tax planning, including the possible establishment of a family trust.
- Review personal insurance to ensure it is adequate and structured to ensure maximum tax deductibility of premiums.
"Chris and his team at Humphrey Partners have been excellent to deal with for financial planning, estate planning and insurance. I know Chris will look after me and recommend the best direction for our business and for me personally. "
Stu Richardson - Telstra Store Toowong Licensee