This is an example of the Premium Program in action.
Glen is a tradie in his mid-fifties and Joanne is a teachers aid and a tad younger.
Their combined income is $135,000, they have two adult children who are financially independent of them (one still at home) and have combined super balance of $500,000.
They live in a house valued at $1,100,000 with a mortgage of $240,000 with another 10 years to go.
Glen and Joanne wanted to know if they had enough to retire on and live on $60,000 a year.
I crunched the numbers.
What we came up with was the following:
· Cash saving of $10,000 from take home income
· Catch up super contributions
· Increased super contributions
· Purchase of a new car for Joanne
· Tax refunds to pay off mortgage
The result, the Mortgage is reduced to 6 years, saving over the next ten years is on target to increase by $300,000 (6% after tax return which is low)
Glen and Joanne feel secure in their financial future and did not think they could achieve what they are achieving.
Glen, the “typical male” keeps saying “if only I had met you earlier”.
If you wish to find out about our premium program, please do not hesitate to call us to see if we can help.
