Asset Building Case Study
Client situation:
| Situation | Bob | Jane |
|---|---|---|
| Age | 32 | 27 |
| Salary | $90,000 p.a. | $60,000 p.a. |
| Apartment | $400,000 with $300,000 mortgage | |
| Shares | $15,000 | $0 |
| Super | $70,000 | $25,000 |
| Health | Good health | |
| Children | Jane is currently pregnant | |
| Insurance | Adequate general & no personal insurance | |
Our Advice
- Work out a saving plan.
- Focus on paying down debt with the view of upgrading to a family home at some stage.
- Consider the need for asset protection.
- Consider government schemes.
- Consider salary packaging (unlikely to salary sacrifice superannuation).
- Estate planning including superannuation assets which do not form part of a person’s estate, Enduring Powers of Attorneys, medical directives, etc.
- Establish personal insurance to protect Bob, Jane and their future children. Structure the insurance to ensure maximum tax deductibility of premiums.
" I have been very impressed with the service that Chris Humphrey has supplied. He was able to take my complicated tax and insurance situation and provide a clear and concise investment strategy. The personal service that Chris has given me has been greatly appreciated. "
Michael Oberhardt - Principal Geologist at Arrow Energy