Just provide some advice for this husband and give the (a) Reasons for advice (b) Basis for advice (c) What is included in the advice

and then it is the introduction for them with their superannuation saving

Case study overview Mary Bishop (39 years of age) works full time as an Associate Professor of Chemistry at UWA, earning gross income of $100,000 p.a. plus Super Guarantee (SG) contributions. Her husband, Thomas Bishop (37 years of age) is a part-time office manager, earning gross income of $50,000 p.a. plus SG contributions and takes on primary caring duties of their daughter Roberta who is 3 years of age. Thomas has a superannuation balance of $28,000 and he is happy with the fund and the specific investment option he is in but would like advice on how he can build up the balance. Mary has superannuation savings in several super funds that have a total balance of $105,000. See Appendix A for details on her super funds. Mary would like advice on rolling her super savings into one of her existing funds. Mary and Thomas own their house currently valued at $980,000 and estimate that their house contents are worth approximately $50,000. They have a mortgage with a current balance of $450,000 and an interest rate of 3.33%. During the pandemic they were worried about losing their income and so on arrangement with their lender, they switched to interest only payments of $1,249 per month. They would like advice on what they should do to bring down the balance of their mortgage quicker. Mary and Thomas also have savings of $38,000 in a bank account earning 0.04% interest and are seeking advice on how they can better utilise these savings. Thomas also has a HECS/HELP debt of $13,500 remaining. They have each completed a risk profile questionnaire. Marys risk profile was assessed as being high growth while Thomas was assessed as being in the growth category. They prefer a hands-off approach to investing that is not too onerous on their time given that they are busy with their work and raising their daughter

Appendix A Marv's sunerannulation savinos