Wealth Generation Case Study
|Salary||$120,000 p.a.||$30,000 p.a.|
|House||$800,000 with $420,000 mortgage|
|Children||Chloe age 7, Isabel 3 and Oliver age 10|
|Insurance||Adequate general & personal insurance|
- 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.
"Since engaging Chris Humphrey, I have benefited from his comprehensive financial, investment and tax knowledge. Chris and his team are always quick to respond to my queries and pro-active in updating me on any changes that may affect my financial situation. "
Dr Jason Stone