Financial Assesment

Statement of advise

Executive Summary

Walter and Miriam Higginbottom, this Executive summary provides a quick look of the core of the advice we are providing, the goals to be achieved, our recommendation to be followed and some possible outcomes are outlined lines below. Each of this points it will be discuss with more detail in the Statement of Advice, nevertheless it is important for you to read and understand this document as it summarizes the decisions and actions that we asked you in order to accomplish your goals.

ABOUT YOU

Walter and Miriam you are 49 and 61 years old respectively. You have two children. One is independent and other (21 years old) in the last year of an undergraduate degree at university. Your both working, but Walter is concern about redundancy. You still paying your mortgage and also have some additional investments to your superannuation savings.

YOUR GOALS

1. Your primary goal is to set yourself for retirement in three years’ time. However you are concern that Walter might lost his job within a month

2. Protect yourself and your children in the event that either of you become sick or injured or lose your employment.

3. Maintain your lifestyle in retirement, that you calculated it would be $60000 joint annual income

OUR RECOMMENDATIONS

We divided our recommendation in four areas to cover the different aspect of a financial plan. The costs, risks and outcomes will be discussed in more detail in the following sections of our Statement of Advice

Estate Planning – See your legal adviser to update your Wills and put in place Enduring power of Attorney.

Insurance Cover – Maintain your life and Total and permanent disability insurance within your super fund. Walter needs to acquire a tax deductible Income protection insurance till 65 years old. Acquire as soon as possible private health cover for both.

Retirement Savings – For the next four years to Walter’s 65 years old to salary sacrifice $11,000...