Case Study #2 - Looking towards the future

I'm approaching retirement | | 2 min read



The scenario

Chris and Lisa are in their late 30s, married, with two young daughters. They have a $410,000 mortgage, limited savings, a single income of $150,000 and approximately $90,000 in superannuation. They want to ensure they’re financially comfortable in retirement.

The plan

The couple would like to repay their mortgage as soon as possible. Chris plans on working until he is 60, Lisa is currently on maternity leave but would like to return to part time work in the future. They want to ensure a living income of $30,000 (excluding mortgage repayments) for the future, with an annual retirement income of $50,000.

The strategy

After assessing their risk profile we suggested that Chris and Lisa switch their Equip investment option to Growth Plus. This will help deliver the returns they need to fund their planned retirement. 

We also recommended that they increase their annual mortgage repayments by $9500 to help pay down their mortgage sooner. A redraw facility on their loan would allow them to pay more while still having the option to access the money in an emergency. 

The couple were also encourage to draft wills and nominate beneficiaries, review their insurance needs, and establish powers of attorney to help protect their daughters should anything happen. 

Find out how  Equip Financial Planning can help you plan for the future here. 

Issued by Togethr Trustees Pty Ltd ABN 64 006 964 049, AFSL 246383 ("Togethr"), the trustee of the Equipsuper Superannuation Fund ABN 33 813 823 017 ("the Fund"). The information contained herein is general information only and does not take into account your personal financial situation or needs. You should consider whether this information is appropriate to your personal circumstances before acting on it and, if necessary, you should also seek professional financial advice tailored to your personal circumstances. Where tax information is included, you should consider obtaining personal taxation advice. Before making a decision to invest in the Equipsuper Superannuation Fund, you should read the appropriate Product Disclosure Statement (PDS) and Target Market Determination for the product which are available at  Financial advice services may be provided to members by the trustee’s related entity Togethr Financial Planning Pty Ltd (ABN 84 124 491 078; AFSL 455010). *Past performance is not an indication of future performance.

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