- 41 years old
- Accumulation 2 member
- Looking to commence a non-superannuation regular savings plan
Daisy was recently promoted to a senior management role at a university.2,3
She is very pleased that her new salary of $145,000 will enable her to start putting money aside to fund the education of her two-year-old twins.
A few weeks ago she contacted UniSuper Advice. During her scheduled phone call the Super Adviser determined that Daisy’s situation was quite straightforward: she was only seeking advice on regular savings outside of superannuation.
Daisy discussed her goals in detail with her adviser as well as:
- Her initial investment amount
- Frequency and amount of ongoing contributions
- Daisy’s current cost of living and income requirements
- An investment strategy for her portfolio
- The level of risk associated with the portfolio and Daisy’s risk profile
- Any ongoing fees associated with the portfolio
Daisy was happy to pay $710 from her credit card for advice about starting a regular savings plan through a non-superannuation investment portfolio. Daisy had heard that some advice could be paid for via her super however, the adviser explained that since this advice was not related to super the fees could not be deducted from her super account.
A week later, Daisy met with her adviser at the university campus where she presented her with a written Statement of Advice, explained the details, and encouraged Daisy to ask questions to ensure she understood the recommendations. The Super Adviser also outlined the inherent risks relating to the investment account and explained the projections listed in the Statement of Advice. These included:
- Initial investment of $5,000
- Regular investment of $800 per month
- Projected performance per annum: 5%4
- Projected amount after 10 years: $132,4605
Her adviser helped Daisy to complete the application forms for the investment account and arranged the account set up, giving Daisy timely updates on the status of her application.
Daisy felt confident knowing that she is building wealth outside of superannuation to help with her children’s education.
Could a UniSuper financial adviser help you? Get in touch to find out.
1. Daisy is a hypothetical member. 2. All outcomes in this case study are based on the specific factual circumstances detailed in this scenario and the assumptions detailed. The outcomes are not guaranteed and will vary depending on your specific circumstances and assumptions made. 3. This case study is based on legislation applicable in the 2018-19 financial year. 4. Historical performance commensurate with her Moderate risk profile. 5. Figures are represented in today’s dollars and these are estimates only based on the assumptions stated and are not guaranteed. Also there are no other contributions or withdrawals taken into account.