Build Quality Assets for Retirement Plan
This is an example what we see every week as average
Australians look at their future lifestyle plans
| Current Lifestyle Situtation | Current Assets less liabilities | |||
| Non Investment Assets | Retirement Funds | |||
| Home | $600,000 | Superannuation (Combined) | $200,000 | |
| Cars | $ 50,000 | Cash in the bank | $ 20,000 | |
| Toys | $ 20,000 | Shares | $ 50,000 | |
| Home contents | $ 60,000 | Total Assets | $270,000 | |
| Less Debts | $255,000 | |||
| Liabilities | Retirement funds | $ 15,000 | ||
| Home Loan | $200,000 | |||
| Credit Card Debt | $ 15,000 | |||
| Personal Loan | $ 20,000 | |||
| Car Lease | $ 20,000 | |||
| Total Debts | $255,000 | |||
| Gross Family Income | $130,000 | Cash needed to give $800/week in Retirement | ||
| Less tax | $ 35,000 | General information suggests a %5 return is conservative & achievable | ||
| Less savings | $ 10,000 | |||
| Current Lifestyle cost | $ 95,000 | Funds required | $1,600,000 | |
| or | ~$1,800 / week | Current Funds | $ 15,000 | |
| Shortfall | $1,585,000 | |||
| First comment normally is “We don’t spend that much” or denial. Then they say “We won’t need near that much when we retire.” So let’s look at an example of needing $800 / week to retire on. | This might seem an impossible goal at first but what if you reached $800,000 or even $400,000 extra to pay off bad debts and buy a 4/W/D and caravan? | |||
We help people every week to look at their current lifestyle choices
and find ways to implement a plan to have a better future.
Disclaimer: Note that the financial projections listed above simply illustrate the outcome calculated from the input values and the assumptions contained in the example. Hence the figures can be varied as required and are in no way intended to be a guarantee of future performance. Therefore they must not be used to make personal financial decisions. Although the infor-mation is provided in good faith, it is also given on the basis that no person using the information, in whole or part, shall have any claim against WellSpring Partners Pty Ltd, its servants, employee or consultants.