Scenario $1-$ Thomas Nelson Skye Abdul $$ Is aged $55$ and is planning on retiring within $10$ years. $$ Thomas owns his home in South Melbourne worth $$2,000,000$ and has an investment property worth $$600,000$ in Essendon with a loan owing $$400,000$ on it with Macquarie. $$ You are considering refinancing this loan for a better rate and fee structure for Thomas and he is also wanting advice regarding an upcoming inheritance as his father recently passed away. He is expecting $$300,000$ in the next $6$ months. $$ Thomas works as a software developer for Entry Group and his annual gross pay is $$145,000.$ Thomas has his superannuation with Entry Superannuation fund and the current balance is $$952,000$ Thomas has no debts other than the investment property In the table below, loan which he enjoys some tax savings on$,$ he is not keen on credit cards. $$ Thomas is married and his wife is retired. $$ Thomas is unsure what to do with his upcoming funds and really needs help and guidance along with a possible home loan refinance. $$ Thomas has a Mercedes A$3202020$ model worth $$55,000$ Thomas and his wife Penelope have $$25,000$ in savings with ANZ in a savings account for emergencies and bank day to day with Macquarie. They generally keep around $$4000$ in this account. They are not fussed about using apps for banking but do use web$-$based banking sites.

Scenario $2$ Skye Abdul Is aged $25$ and is looking to start saving for her first home by living at home with her parents. They only charge her $$50$ a week to help with bills. $$ You have done a borrowing capacity based on income and she is able to borrow the amount she needs but needs to build up more savings, currently she has $$5,000$ in her salary account, she has no other accounts, and this is with Bankwest Easy Transaction account $$ She is wanting to make sure she has funds to buy a house but after reading the Barefoot investor book, wants to also build an investment portfolio with shares or a managed fund. She does not know anything about these yet other than reading a barefoot investor book. $$ Skye earns $$85,000$ as a Telstra store manager and only has a Bankwest credit card with a limit of $$3000$ and barely uses it$.$ Her plans are to buy a house in the next $12$ months, start to put funds aside to a separate managed or share portfolio within $6$ months and may need to upgrade her car in the next $2-3$ years. $$ Skye like the barefoot investor model of using $80\%$ of income and saving or paying off debt for the other $20\%,$ she likes to always have funds in her day$-$to$-$day account if any unexpected bill arrives. $$ She likes the convenience of banking with the app and is very happy with Bankwest. $$ Skye has $$24,000$ in superannuation with Aware superannuation. $$ Skye$$s car is worth $$8,000$ it is a $2015$ Ford focus

Question as below for both the clients:

In the table below, complete a risk profile for both clients regarding product risk levels, low risk $(1)$ to high risk $(5)$ This is based on the products that may suit both clients. Place an x in the box you feel would be relevant along with the name of the client Thomas or Skye. They could be the same level of risk or different depending on their circumstances.

Risk level Savings accounts in banks Shares

Managed funds

Property investing

$1$ low

$2$ low to medium

$3$ medium

$4$ medium to high

$5$ high