Case Study 2: Accumulators

Introduction

Duane and Delia Day are a married couple focused on building wealth and securing an early retirement. Duane, 40, is a full-time surgeon earning $240,000, while Delia, 40, is a full-time psychologist earning $120,000. Their total income is $360,000, with annual expenses of $176,576, including a mortgage of $800,000. They own a $2.5 million home and have total assets of $3.2 million, including $320,678 in super and $88,000 in cash. Their goals include optimising super, reducing tax, paying off debt, and retiring at 55 with an annual income of $90,000.

Recommendations

Key recommendations include increasing home loan repayments by $3,000 per month, investing $50,000 in a diversified portfolio with a regular savings plan of $2,000 per month, establishing a cash reserve, salary sacrificing to super, rebalancing super in line with their growth risk profile, reviewing insurance, and setting up binding death benefit nominations. The plan also incorporates future modelling where cashflow surplus is directed to super as non-concessional contributions and account based pensions are commenced at age 60. 

Modules covered

• Current Position:
  • Fact Find
• Advice:
  • Strategy Builder (iff Modeller) 
  • Finalise Advice
• Integrations:
  • WealthSolver
  • Risk Researcher

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