MAA255 – Financial Planning Trimester 1, 2021 Assessment Task 3

All questions are inside the hooked up file. This contains phrase counts. MAA255 - Monetary Planning Trimester 1, 2021 Evaluation Job three (Particular person) DUE DATE AND TIME: eight:00pm AEST, Monday seventh June 2021 PERCENTAGE OF FINAL GRADE: This evaluation is price a complete of 60% of the general marks. Studying Consequence Particulars Unit Studying Consequence (ULO) Graduate Studying Consequence (GLO) ULO1: Relate theoretical, technical and sensible monetary planning information and abilities to numerous shopper eventualities. GLO1: Self-discipline-specific information capabilities GLO3: Digital literacy ULO2: Establish and look at monetary planning choices for a shopper. GLO1: Self-discipline-specific information and capabilities GLO4: Vital pondering GLO5: Drawback fixing Submission Directions This evaluation activity is to be accomplished as a person. Group submissions will NOT be accepted. ONE digital copy solely of the evaluation should be submitted through CloudDeakin. Assessments that don't adjust to the submission necessities is not going to be marked. You will need to hold a backup copy of each evaluation you submit, till the marked evaluation has been returned to you. Within the unlikely occasion that certainly one of your evaluation is misplaced, you will have to submit your backup copy. Any work you submit could also be checked by digital or different means for the needs of detecting collusion and/or plagiarism. When you find yourself required to submit an evaluation by way of your CloudDeakin unit web site, you'll obtain an e mail to your Deakin e mail handle confirming that it has been submitted. It is best to test that you would be able to see your evaluation within the Submissions view of the evaluation dropbox folder after add, and test for, and hold, the e-mail receipt for the submission. Description / Necessities This evaluation incorporates THREE (three) TASKS. Every Job has a number of elements and all elements must be answered so as to obtain the complete marks out of 100. Be aware that the marks out of 100 will probably be transformed to 60% of your ultimate grade. Moreover, there's a hurdle requirement on this evaluation which means that you'll want to realize not less than 50% or extra to go this unit. For calculations, I might suggest exhibiting as many steps as potential in your calculation and dealing. Some steering and recommendation to make sure the profitable completion of the evaluation: 1) Your responses must be written clearly and concisely inside a single phrase doc. 2) The place relevant, state all of your assumptions. three) Your solutions ought to comply with the next minimal format: i. Title Web page which is able to embrace formal title; your title and scholar ID quantity; date and unit title and code (MAA255 - Monetary Planning Trimester 1, 2021) ii. Desk of Contents together with headings and subheadings and web page numbers iii. Job 1 – Case Research: James and Olivia iv. Job 2 – Case Research: Lucy and Patrick v. Job three – Private Case Research vi. References (use the Harvard fashion of referencing). vii. Appendices (non-obligatory) four) Most Phrases: 2,000 (excluding Title Web page, Desk of Contents, References, Appendices). Please be aware that poor presentation/formatting, going over the general phrase restrict by greater than 10%, or failure to comply with directions could lead to a penalty of marks of as much as 10%. The phrase depend in every part is simply a sign of how lengthy your reply must be at most. Should you go over or below it's nice so long as your total report is inside the 2,000 most phrase depend (not together with tables and references). This analysis incorporates THREE (three) TASKS. Every Job has quite a few elements and all elements must be replied to perform the complete checks out of 100. Be aware that the imprints out of 100 will probably be modified over to 60% of your final grade. Moreover, there's an impediment necessity on this appraisal implying that you must accomplish in any occasion half or extra to go this unit. For computations, I might recommend showing nevertheless many strides as could possibly be allowed in your estimation and dealing. Some route and steering to ensure the efficient consummation of the appraisal: 1) Your reactions must be composed clearly and succinctly inside a solitary phrase report. 2) The place related, categorical everything of your presumptions. three) Your solutions must comply with the accompanying least association: I. Cowl sheet which is able to incorporate typical title; your title and understudy ID quantity; date and unit title and code (MAA255 - Monetary Planning Trimester 1, 2021) ii. Chapter by chapter information together with headings and subheadings and web page numbers iii. Task 1 – Case Research: James and Olivia iv. Task 2 – Case Research: Lucy and Patrick v. Task three – Private Case Research vi. References (make the most of the Harvard approach of referring to). vii. Dietary supplements (discretionary) four) Most Phrases: 2,000 (barring Title Web page, Desk of Contents, References, Appendices). If it isn't an excessive amount of bother, be aware that helpless present/organizing, going over the overall phrase restrict by over 10%, or incapacity to stick to instructions could deliver a few punishment of indicators of as much as 10%. The phrase embrace in every half is only a signal of how lengthy your reply must be all issues thought of. Within the occasion that you just go over or below it's nice so long as your normal report is inside the two,000 best phrase test (excluding tables and references). Notes • Penalties for late submission: The next marking penalties will apply in the event you submit an evaluation activity after the due date with out an permitted extension: 5% will probably be deducted from accessible marks for every day as much as 5 days, and work that's submitted greater than 5 days after the due date is not going to be marked. You'll obtain zero% for the duty. Day means working day for paper submissions and calendar day for digital submissions. The Unit Chair could refuse to simply accept a late submission the place it's unreasonable or impracticable to evaluate the duty after the due date. • For extra details about educational misconduct, particular consideration, extensions, and evaluation suggestions, please discuss with the doc Your rights and duties as a scholar on this Unit within the first folder subsequent to the Unit Information of the Sources space within the CloudDeakin unit web site. Evaluation Suggestions: The outcomes of the ultimate evaluation is not going to be immediately launched and as a substitute you'll know your ultimate marks for the unit by way of the College scholar administration system. College students could make a web-based appointment to obtain on-line suggestions on their ultimate evaluation. Job 1 – Case Research: James and Olivia (28 marks) James is aged 42 and Olivia is aged 38. Olivia works a stay-at dwelling mum while James runs his personal consulting agency from an internal suburban workplace, which produces a mean web revenue of $150,000 earlier than tax. They've two kids, aged eight and 10 whom they count on will stay dependent till age 24 at which period the dwelling bills will lower by $13,000 p.a. for every baby after they go away dwelling. They personal their very own home price $1,000,000, which is topic to a mortgage of $275,000. In addition they personal an funding property price $900,000, which is topic to a mortgage of $650,000. In addition they have an impressive bank card debt of $12,000. Each James and Olivia personal their very own automobiles. The couple’s dwelling bills complete $84,000 p.a. together with cost of a $27,600 p.a. annual mortgage cost. The couple wish to ship the youngsters to a personal college from years 9 – 12 which is predicted to value $160,000 in complete. In occasion of loss of life of both James or Olivia, they estimate loss of life and medical bills to value round $12,000. James presently has life cowl of $150,000 in his superannuation fund (his present superannuation fund steadiness is $225,000) while Olivia has no life cowl, additionally they haven't any different private insurances. James’ father handed away not too long ago at age 67 on account of coronary heart illness, which appears to be a hereditary downside in James’ household. Required a) What sort of insurance coverage insurance policies would you suggest for James and Olivia to guard their private dangers? Focus on the deserves for every of the varieties of insurance coverage insurance policies. (max. 400 phrases) (eight marks) b) Calculate how a lot further life insurance coverage could be beneficial for James? Assume that protection is required by way of to present life expectancy (85 for females, 81 for males). Additional assume the reinvestment charge is eight% each year. (12 marks) c) You be aware that James’ present life cowl is in his superannuation fund. Focus on the benefits and downsides having his life cowl inside his superannuation fund as towards having it in his personal title? (max. 250 phrases) (eight marks) Job 2 – Case Research: Lucy and Patrick (32 marks) Lucy and Patrick, aged of their early 30’s, personal their very own dwelling price $1,000,000 and every have a automotive price roughly $30,000 every. They've the next funding belongings: Merchandise Quantity Possession Funding Property $900,000 Tenants-In-Frequent Money at financial institution $200,000 Joint Time period deposit – 2 yr mounted $15,000 Patrick Shares – Australian, blue-chip shares acquired in 2016 for $20,000 $80,000 Lucy Managed fund – Aust. Shares acquired in 2015 for $15,000 $25,000 Lucy Superannuation (each have binding loss of life nomination clauses) $300,000 $125,000 Lucy Patrick • The couple’s superannuation accounts are invested in a progress fund with the next allocations: Money 5%; Fastened curiosity 25%; Aust shares 35%, Property 10%; Worldwide shares 25%. • Lucy earns $105,000 p.a. and Patrick earns $50,000 p.a. working part-time. The couple have 2 kids aged 16 and 18 years previous. • The couple’s danger profile has been decided as conservative. Required a) Decide the couple’s total funding asset allocation utilizing the next desk format. Be aware that your Excel spreadsheet must be ‘embedded’ into your report. (9 marks) Title of funding Money Fastened curiosity Property Australian shares Worldwide shares Whole Whole - $ Whole - % b) Is the couple’s present asset allocation in keeping with their danger profile? If not, what can be your strategies as to an acceptable asset allocation for the couple? Should you determined that the couple’s portfolio was chubby in a specific asset class, what issues could be encountered in re-balancing? (max. 250 phrases) (eight marks) c) Lucy and Patrick are contemplating buying the ASX listed inventory Xero Restricted (XRO). They discover that Xero has a really excessive price-to-earnings (P/E) ratio relative to different Australian shares similar to Woolworths (WOW). Holding all else equal, does a excessive P/E ratio essentially imply that Xero is a nasty funding relative to different shares with decrease P/E ratios? Why, why not? (max. 200 phrases) (9 marks) d) Advise as as to whether the investments are property or non-estate belongings. Ought to they re-structure such that every one the belongings are property belongings? (max. 200 phrases) (6 marks) Job three – Private Case Research (40 marks) As a potential monetary advisor finding out MAA255 Monetary Planning, earlier than you begin arising with monetary plans for others, it could be worthwhile to begin a monetary plan for your self. Thus, on this activity you'll tackle the position of each the shopper and the planner and will probably be fascinated with your retirement. Should you do make any further assumptions alongside the way in which do state them explicitly. Listed here are some assumptions to begin you off: • A graduate in monetary planning on common, earns about $55,000 a yr, you possibly can assume that this quantity is your beginning wage bundle (i.e. it contains the superannuation assure contribution). • Your wage itself is predicted to extend by 2.5% per yr that accounts for will increase because of the CPI and any promotions all through your lifetime. • You'll be able to assume the tax charges to stay fixed, and that inflation (CPI) is 2% each year. • Your superannuation funds are invested in a progress choice. The expansion choice is predicted to generate a web return of each year (web of tax and costs) for the foreseeable future. Be aware that for every half, your Excel spreadsheet must be ‘embedded’ into your report. See Week 11 lecture recording… Required: a) You purpose at constructing wealth between now and once you retire inside your superannuation fund. Certainly one of your objectives is to retire in your 65th birthday. Put together an Excel spreadsheet exhibiting the quantity of gathered superannuation for every year by way of until retirement. It is best to use the desk beneath as a pattern for example the buildup of your superannuation fund to retirement. You'll be able to assume the tax charges stay fixed and that you just make no additional contributions or financial savings in direction of retirement. (most 100 phrases). (12 marks) Yr Age Wage ($) Opening Superannuation Steadiness ($) Superannuation Assure Contributions ($) Contributions Tax (15%) Add Earnings (Web of tax & charges) Closing Superannuation Steadiness 2021 … 55,000 zero … … … … Job three (continued) b) As a part of your retirement, you wish to have keep a sure high quality of life and also you consider that you'll require the equal of $60,000 each year in immediately’s dollars (i.e. earlier than adjusting for inflation) out of your superannuation fund once you retire. Based mostly in your reply in Half (a), talk about and justify whether or not your gathered fund is sufficient to your retirement wants. You have to to finish an Excel spreadsheet illustrating the withdrawal of the gathered superannuation commencing retirement. It is best to use the beneath column headings in your unfold sheet for example the discount / steadiness of your retirement funds. No matter whether or not the funds had been or weren’t sufficient to fund your retirement in its entirety, calculate how a lot you would want on the graduation of your retirement to satisfy all your retirement wants by way of to the top of your anticipated life. (most 100 phrases) (16 marks) Yr Age Opening Pension steadiness Much less pension withdrawal (actual earnings required) Add web earnings (Web of Tax & Charges) Closing Pension steadiness 20xx 65 … … … … c) Focus on two methods you would possibly undertake to assist enhance your monetary scenario in retirement. (most 500 phrases) (12 marks) END OF ASSESSMENT three TASKS
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