Our Advice To You

Prepared for

Taylor Swift
123 Blank Space Court
Melbourne VIC 3000

Date 28/10/2024

Prepared by

Patrick O'Keefe B Bus AdvDip (FP)
Financial Adviser
ASIC REGISTERED ADVISER Licence No 232514

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Taylor, you sought assistance for the following

To set you up for retirement and ensure you are able to meet your goals to:

  • To grow your super

  • To make sure your retirement savings are invested in line with your risk and return preferences

Other considerations

Through discussions, we uncovered that you have an unmet insurance need, however, do not want to pay additional premiums this close to retirement. While we realise that dealing with this is not your priority right now, not addressing this could leave you and your family unprotected should something happen to you.

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Review your super

What to do

Why

Switch your investment options to the following:

  • 50% balanced
  • 50% Conservative Balanced
To reflect your conservative/aggressive approach to investing.
  • You are not willing to accept the risk of more frequent or larger losses to attempt to achieve higher returns, even though it may result in a higher investment balance and higher income in retirement.

Make a binding death nomination on your super account

  • 50% balanced
  • 50% Conservative Balanced

Make a binding death nomination on your super account

  • To ensure your super is paid to the people of your choice in the event of your death

Want to know more?

Watch the video on how on investment choice can impact your retirement

Watch Now
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Our Advice: Contribute to your Super

What to do

Why

Make regular salary sacrifice contributions of $150 per fortnight into your Hostplus account

Make a lump sum contribution of $50,000

  • Despite these funds being locked away until retirement, you will have sufficient income to meet your living costs
  • You will boost your retirement savings by approximately $75,000
  • Making concessional contributions will reduce your Overall tax by $1,050
Projected Balance
Cash Flow & Tax

Want to know more?

Watch the video on how on investment choice can impact your retirement

Watch Now
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Cashflow and tax

As a result of salary sacrificing $150 per fortnight we estimate your take home pay will reduce by $4,000 per annum (f/n, m), as shown in this table:

YearlyMonthlyFortnightlyWeekly

Current

Proposed

Salary

$100,000

$100,000

Less salary sacrifice

$0

$6,175

Taxable income

$100,000

$93,825

Deductions

Amount

Amount

Less Income Tax Payable (incl. Medicare Levy & tax offsets)*

$22,788

$20,812

Net Income

$77,000

$73,000

Current

Proposed

Income Tax

$22,788

$20,812

Less salary sacrifice

$1,650

$2,576

Taxable income

$24,438

$23,388

Current

Proposed

Salary

$XXX,XXX

$XXX,XXX

Less salary sacrifice

$0

$X,XXX

Taxable income

$XXX,XXX

$XX,XXX

Deductions

Amount

Amount

Less Income Tax Payable (incl. Medicare Levy & tax offsets)*

$XX,XXX

$XX,XXX

Net Income

$XX,XXX

$XX,XXX

Current

Proposed

Income Tax

$22,788

$20,812

Less salary sacrifice

$1,650

$2,576

Taxable income

$24,438

$23,388

Current

Proposed

Salary

$YYY,YYY

$YYY,YYY

Less salary sacrifice

$0

$X,XXX

Taxable income

$XXX,XXX

$XX,XXX

Deductions

Amount

Amount

Less Income Tax Payable (incl. Medicare Levy & tax offsets)*

$XX,XXX

$XX,XXX

Net Income

$77,000

$73,000

Current

Proposed

Income Tax

$22,788

$20,812

Less salary sacrifice

$1,650

$2,576

Taxable income

$24,438

$23,388

Current

Proposed

Salary

$ZZZ,ZZZ

$ZZZ,ZZZ

Less salary sacrifice

$0

$Z,ZZZ

Taxable income

$ZZZ,ZZZ

$ZZ,ZZZ

Deductions

Amount

Amount

Less Income Tax Payable (incl. Medicare Levy & tax offsets)*

$ZZ,ZZZ

$ZZ,ZZZ

Net Income

$ZZ,ZZZ

$ZZ,ZZZ

Current

Proposed

Income Tax

$22,788

$20,812

Less salary sacrifice

$1,650

$2,576

Taxable income

$24,438

$23,388

What will you pay?

What advice fees will you pay?

Why

Commence new AustralianSuper Choice income account using the full amount of your existing super account with the following investment options:

  • 35% balanced
  • 65% Conservative Balanced

Draw a fortnightly pension payment of $883

  • An account-based pension will provide you with tax-free income to help meet your ongoing and lump sum expenses
  • The investment earnings on your account-based pension are also tax-free meaning greater returns when compared with leaving these funds in your existing super account
  • Your pension will continue to reflect your conservative/aggressive approach to investing
  • Receiving the Age Pension will mean you are required to draw less from your account-based pension which will allow these funds to last longer
Your Cash Flow

Apply for the Centrelink Age Pension

we estimate you will receive approximately $838 per fortnight

Want to know more?

Watch the video on how an account-based pension can help you meet retirement goals

Watch Now

Other considerations

When you roll your super into an account-based pension you will lose all your exiting personal insurance cover.

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YearlyFortnightlyWeekly

Decscription

Total

Gross Income

Account based pension

$22,966

Age Pension

$29,034

Total Gross income

$52,000

Less Income tax and expenses

Income tax and Medicare levy

$0

Total Income tax and expenses

$0

Equals Net income

$52,000

Less Living Expenses*

$52,000

Equals Net cash flow

$0

Decscription

Total

Gross Income

Account based pension

$XX,XXX

Age Pension

$XX,XXX

Total Gross income

$XX,XXX

Less Income tax and expenses

Income tax and Medicare levy

$0

Total Income tax and expenses

$0

Equals Net income

$XX,XXX

Less Living Expenses*

$XX,XXX

Equals Net cash flow

$0

Decscription

Total

Gross Income

Account based pension

$YY,YYY

Age Pension

$YY,YYY

Total Gross income

$YY,YYY

Less Income tax and expenses

Income tax and Medicare levy

$0

Total Income tax and expenses

$0

Equals Net income

$YY,YYY

Less Living Expenses*

$YY,YYY

Equals Net cash flow

$0

Estate Planning

What to do

Why

Engage an estate planning specialist to:

  • Update your will
  • Appoint a Power of Attorney
  • Put in place an Advanced Care Directive
  • Having an up-to-date estate plan provides peace of mind knowing your affairs are in order in the event of you death or incapacity
  • To ensure your super and pension funds are paid to the people of your choice in the event of your death

Make a binding death nomination on your existing super account and new pension account

Want to know more?

Watch the video on how why estate planning is important for you

Watch Now
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Your Retirement

You're not on track. Don't panic.

Taylor, based on our calculations, you are not on track to meet your retirement expenses. Instead, it is estimated you may be able to fund approximately $44,756 each year.

To extend the longevity of your funds you may want to consider:

  • Reducing your expenses

  • Delaying your retirement

  • Whether you are able to access income from additional sources

  • Whether you are able to tolerate greater investment risk

What does a typical retirement cost?

How investment fees can impact your final retirement balance

Watch Now
IncomeCapital
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What will you pay

What advice fees will you pay?

Any further advice may incur additional fees.

Advice fee

$123

Implementation fee

$0

Total advice costs

$123

What product fees will you pay?

As a result of switching investment options & investing more in super your fees will change as shown in the table below

Want to know more?

How investment fees can impact your final retirement balance

Watch Now

Existing Plans

Proposed Plans

Product Name

Hostplus Super (Industry)

Hostplus Super (Industry)

Account Balance

$400,000.00

$500,000.00

Total Ongoing Fees

$4,652.25

$2,627.25

%

1.1%

0.55%

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Well done on seeking help on taking control of your retirement, to get the benefit of this advice it’s important you take the following steps.

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Implementing your advice

What

When

Who

How

Checklist

Review our advice to you and provide us with consent to proceed

Immediately

Taylor

Sign the Authority to proceed
Switch your investment options to the following:
  • 50% balanced
  • 50% Conservative Balanced

Immediately

Taylor

Login to member portal (Link to member portal) and make switch
Make a binding death nomination on your super account

Immediately

Taylor

Download and complete beneficiary form from fund
Make regular salary sacrifice contributions of $150 per fortnight into your Hostplus account

Immediately & Ongoing

Taylor

Contact your employer payroll to make a salary sacrifice arrangement
Make a lump sum contribution of $50,000

Immediately

Taylor

Click here to see instructions on how to contribute to your super

Want to know more?

Watch the video on how superannuation can help you meet retirement goals

Watch Now

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Progress

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Congratulations! You have finished implementing your advice

Well done! You have successfully implemented your advice on Hostplus Super Investment. Remember to schedule a follow-up consultation to review your progress and adjust your strategy as needed.

When to come back...

What

Why

How

You want to ensure you’re covered in the event of your death or ill health

Watch Video
Online Portal

Your income or expenses changes significantly

To ensure your salary sacrifice is still fit for you

Book Appointment
Digital Advice

Your attitude to risk & return changes

To confirm your investment mix is still appropriate

Book Appointment
Digital Advice