CASE STUDY John and Tina William have made an appointment with you to discuss their financial...

 

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CASE STUDY John and Tina William have made an appointment with you to discuss their financial planning needs. Tina works with a bank and is concerned about her family's financial position. She is worried that their current investment allocation and plan is unlikely to provide her family with sufficient savings upon their retirement. The couple has come to you for advice and has provided the following information. Personal details: John and Tina, both aged 58 have three children; Daniel, Tony and Lucy. Daniel is 22 and works as a Teacher in Perth and is financially independent. Tony is 19 and has joined the Army, he is also financially independent. Lucy is 16, lives at home and is currently enrolled at a private school. Income and goals: • Tina earns $93,000 p.a. John works as a receptionist and earns $42,000 p.a. They manage to save $10,000 a year which they invest in Tina's managed fund. ● Tina and John both plan to retire in July 2021. • Tina plans to withdraw her entire superannuation fund to buy an investment property immediately, the rental proceeds will be used to fund the couple's' retirement. This investment property is estimated to cost $550,000. The couple intends to celebrate their retirement by driving around Australia in January 2022. The couple will fund the trip from Tina's retirement superannuation and savings bank account and the estimated cost is $50,000. CASE STUDY John and Tina William have made an appointment with you to discuss their financial planning needs. Tina works with a bank and is concerned about her family's financial position. She is worried that their current investment allocation and plan is unlikely to provide her family with sufficient savings upon their retirement. The couple has come to you for advice and has provided the following information. Personal details: John and Tina, both aged 58 have three children; Daniel, Tony and Lucy. Daniel is 22 and works as a Teacher in Perth and is financially independent. Tony is 19 and has joined the Army, he is also financially independent. Lucy is 16, lives at home and is currently enrolled at a private school. Income and goals: • Tina earns $93,000 p.a. John works as a receptionist and earns $42,000 p.a. They manage to save $10,000 a year which they invest in Tina's managed fund. ● Tina and John both plan to retire in July 2021. • Tina plans to withdraw her entire superannuation fund to buy an investment property immediately, the rental proceeds will be used to fund the couple's' retirement. This investment property is estimated to cost $550,000. The couple intends to celebrate their retirement by driving around Australia in January 2022. The couple will fund the trip from Tina's retirement superannuation and savings bank account and the estimated cost is $50,000.

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ANS WER The couple s financial goals are to retire in ... View the full answer