Thomas Nelson

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 the Entry Superannuation fund and the current balance is $952,000

Thomas has no debts other than the investment property 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 A320 2020 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. 

Client 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 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

 

Have a read of the information above  and complete the table below for both clients

	Thomas Nelson	Skye Abdul
Knowledge level regarding products and/or services sought
Assets
Liabilities
Short term goals
Medium term goals
Long term goals
Cash flow expectations
Taxation implications