Claire (age 38) and Daniel (age 39) are married, with three children under age 8. They have a mortgage of $250,000 (they took out five years ago, with a 30-year term). Claire and Daniel both work full time, utilising both paid and unpaid childcare during the week. The couple have stated their goals as wanting to:

pay off their mortgage as soon as possible

save for the childrens secondary education

renovate their home

buy a new car every three years.

Claire earns $210,000 p.a. and Daniel earns $120,000 p.a. They are paying an additional $12,000 each year off their mortgage.

Explain the goals-based investment approach to the couple and how it applies to their stated goals and objectives.