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

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

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
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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

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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:

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

Apply for the Centrelink Age Pension

we estimate you will receive approximately $838 per fortnight

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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

6 / 10

Your Retirement

You're not on track. Don't panic.
7 / 10
5 / 7

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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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

Your income or expenses changes significantly

To ensure your salary sacrifice is still fit for you

Your attitude to risk & return changes

To confirm your investment mix is still appropriate