Apply for a Low-Income Health Care Card (LIHCC)..................................................................12

8. Surplus Cashflow

We recommend that you use your surplus cash flow to help you meet your wealth creation goals by:  [Allocate to debt] Allocating $XXX to your non-deductible debt on a weekly / fortnightly / monthly basis.  [Allocate to debt] Allocating $XXX to your deductible debt on a weekly / fortnightly / monthly basis.  [Investment] Commencing a regular investment plan into your XXX investment / our recommended investment.  [Super Contributions] Making a non-concessional contribution (post-tax) of $XXX into your XXX Superannuation Fund / our recommended superannuation fund.

Benefits:

 [Allocate to debt] We estimate a reduction in your loan interest of $X over the term of your loan.  [Investment] Your investment will grow by $X over Y years, giving you access to capital growth which may help you grow your savings faster.  [Super Contributions] If you continue to make the recommended non-concessional contributions from now until retirement, we estimate your retirement savings will be boosted by $X over Y years to your retirement.  Allocating your surplus to debt repayment / investment / super contributions will avoid you spending this money on non-essential expenses. This will help you achieve your financial goals sooner.

Points to Consider:

 By allocating your surplus cashflow to debt repayment / investment / super contributions, you will no longer have access to this money for unexpected expenses. A cash reserve should be maintained for this purpose.  Your superannuation / investment has a larger exposure to growth assets with increased volatility and likelihood of negative returns. It is important that we invest and review your savings in line with your risk profile.  There may be transaction costs associated with the regular deposits / debt repayments / contributions.

9. Term Deposit

We recommend that you invest $X from your YYY savings account / reinvest the proceeds from your term deposit maturity into a term deposit for a duration of XX days / years. The fixed rate of interest will be determined at time of application. We recommend that interest earnt be reinvested in your term deposit / paid to your bank account to assist in meeting your day-to-day expenses.

Benefits:

 Your capital will be preserved whilst earning a higher interest rate than your <Name of source>. This will be available at maturity to assist in meeting your financial goals.  The interest rate on your term deposit will be fixed for the duration of the deposit. This gives you certainty of the income you will receive.  The rate of interest will be higher than your transactional bank account, helping to increase your savings / make more income available to meet your living expenses.

Points to Consider:

 The term for your deposit is fixed. Break fees and lost interest may be incurred if you access the money before the maturity date.  Interest rates may rise whilst you are invested, and you will not be able to access these rates until maturity.  You may forego other investment opportunities whilst your money is in the term deposit.  Investing in cash, you will forego potential higher returns that could be achieved from investing in growth asset classes such as property and shares.  There is a risk that your interest rate will be lower than the inflation rate meaning you will lose purchasing power over the term of the deposit.

10. Term Deposit Renewal

We recommend that you rollover $XX from your existing term deposit maturing on XX/XX/XX to a new Term Deposit with <Recommended Product Provider>. The new term deposit will have a maturity date of XX/XX/XX making the investment term YY days. We recommend that you continue to have your interest reinvested / paid to your