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.
" 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