Daniel and Monique are a modern, thirty-something couple. They both earn good money, enjoy an active social lifestyle, and take a holiday annually. They have only one child, named Bradley.

Initial meeting with one of our financial planners

Their initial discussions were about assessing their current situation. The session revealed:

• Daniel is Head Physiotherapist at a large clinic, and earns $97,000 per year.
• Monique is a part-time solicitor on $50,000 per year.
• They have a $300,000 mortgage.
• Their living expenses are about $50,000 a year.
• They don't budget or track their spending.
• Each has several superannuation, savings and loan accounts.
• Bradley recently turned 10 and they feel the need to start thinking about a 'nest egg' and how to better use their money to provide for Bradley's education. They've talked to their friends about it but feel they need professional advice.

If this sounds a little bit like you, see what our financial planner initially recommends.

Recommendation - let's start a plan to secure the young family's future

Our financial planner initially recommends:

• Streamlining the superannuation, savings and loan accounts to save on fees.
• Directing Monique's salary into a Line of Credit facility, which can be used at any time for additional expenses as well as saving interest on their home loan.
• Use the Line of Credit facility to fund investments. Interest payments on this part of the line of credit will then be tax deductible.
• Salary sacrifice into Daniel's superannuation fund to reduce tax.
• Establish appropriate life, disability and income protection insurance. This will cover the loans and provide for Bradley if Monique or Daniel suddenly become disabled or die.

Daniel and Monique's decision

Through advice obtained from their financial planner, Daniel and Monique have gained greater insight into managing their money more efficiently. They now have a better understanding of investments and meet with their financial planner once every three months to ensure they are on track with their goals.

Contact us if you think you could benefit from a personal wealth program.

This service is provided by Guild Financial Services Limited ABN 35 004 399 464, AFS Licence No. 225590. This information is of a general nature only it is not intended to constitute the provision of advice. Before acting on any information on this page you should consider its appropriateness having regards to your objectives, financial situation and needs. Prior to making a decision in relation to any financial product, you should consider the relevant Product Disclosure Statement.