Sign up will take less than 15 minutes. Make sure you have your TFN and ID handy.
John, 60 Mechanic
Let's look at how Fin15 helped John gain financial freedom
John works as a mechanic in a small country town earning $60,000 p.a. and wants to plan his retirement. John and his wife have less than $200,000 in Superannuation, and they want to maximise their retirement income.
Fin15 recommended that John change his Superannuation portfolio to a less risky investment as it was not aligned to his current risk profile. We recommended consolidating his 3 Superannuation funds into 1 and created an Account-Based Pension fund to minimise his Capital Gain Taxes. This allowed him to access Superannuation money and do a re-contributing strategy via salary sacrifice. We also created a plan where John will save as much Superannuation as possible without impacting his Age Pension payment at age 67.
Total Savings in his first Year
For John, we recommended he take $5,000 from Superannuation and conduct a re-contribution strategy. This helped him save $1,800 per annum in income tax while doubling up his super contributions. We also recommended comparable Insurance inside Superannuation, which is personalised to increase his chances of qualifying for a claim if an unforeseen event happened. His premiums were reduced from $3,800 to $2,500 per annum. The recommended consolidation of Superannuation and the creation of Account-Based Pension helped reduce his fees payable from $2,000 to $900 per annum.
Fin15 is operated in Australia by Wedan Consulting Pty Ltd ABN: 21 604 912 736