Case Study 1: Retirement Planning
John is a 45-year-old Australian who is concerned about his retirement. He currently has $100,000 in his superannuation fund and plans to retire at age 65. He wants to maintain a comfortable lifestyle in retirement, which he estimates will cost him $60,000 per year in today's dollars. John's superannuation fund is invested in a mix of stocks and bonds. He expects an average annual return of 6% on his investments. John also wants to know how much he should contribute to his superannuation fund each year to achieve his retirement goal.
Problem Solving Question:
Case Study 2: Tax Planning
Sarah is a self-employed freelancer in Australia, earning $80,000 per year before tax. She is looking for ways to reduce her taxable income and optimize her tax situation. Sarah is aware of several tax deductions and incentives available to self-employed individuals. She wants to know which of the following actions can help her reduce her taxable income the most.
Case Study 3: Investment Diversification
Michael is a 30-year-old investor in Australia who has a diversified investment portfolio consisting of stocks, bonds, and real estate. He recently received an inheritance of $200,000 and is considering how to invest this windfall. Michael wants to maintain a balanced and diversified portfolio to manage risk and achieve his financial goals.
Case Study 4: Estate Planning
Emily and Daniel are a married couple in their late 50s living in Australia. They have accumulated significant assets over the years, including a family home, investment properties, and a substantial superannuation balance. They want to ensure their assets are distributed according to their wishes in the event of their passing and minimize potential estate taxes.