Financial Health Survey | Australian Private Capital

Financial Health Check Survey

Your attitude toward money

Stated Goals & Objectives

Cashflow Management

Taxation Planning

Superannuation Planning

Retirement Planning

Investment Strategy

Risk Management

Debt Management

Estate Planning

Q How would you describe your attitude to money and your money management?

I don't tend to give my money management any thought at all and would describe my attitude as 'head in the sand'

I do give thought to my finances however it makes me anxious or I am unsure what steps to take, so I tend not to take much action

I know I could be doing things better, and would like to, but it is difficult to find the time to spare.

I am proactive in my approach to my money management and constantly want to ensure that I'm making the most of my position and doing things as well as I can be

Q When I think about the future...

I feel concerned and don't have a handle on the direction things are heading

I occasionally worry about the future but feel that things will fall into place

I feel somewhat confident that I am on the right track and that things will likely work out if I maintain good money habits

I feel excited and confident in the future I have planned and my financial security

Q How would you rate your financial literacy?

Outside of basic money management, I have little knowledge or interest in money matters

I understand enough to get by and would like to expand my knowledge a little

I feel I have quite a good handle on money matters including more complex concepts

I am very confident in my understanding of various money concepts and am always trying to learn more and broaden my understanding of how things work

Q Do you have clear short, medium and long term goals?

NOT KNOWN (I am unclear as to what my main goals are and when I would like to achieve them.)

VAGUELY (I have an idea as to what I would like to achieve however I am unsure as to the priority of my goals or when I wish to achieve them.)

Yes (I have a clear idea of the key objectives that are important to me and when I would like to achieve them. I am not quite sure about the priority of each objective.)

Yes (I have a clear idea of the key objectives that are important to me and when I would like to achieve them. I also am sure about the priority of each key objective.)

Q Do you know how you are tracking to these objectives?

No (I have no idea if I am on track to achieve them or what I need to.)

SOMEWHAT (I think I am on track to achieve my objectives however I am not sure if I will get there.)

Yes (I do believe I am on track to achieve my objectives however I am not 100% sure I will do so in the timeframe I desire.)

Yes (I do believe I am on track to achieve my objectives and I am 100% sure I will do so in the timeframe I desire.)

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Q Has your income kept pace with inflation over the past 3 years?

No (My income has fallen over the past 3 years.)

No (My income has stayed they same in actual dollar terms.)

Yes (My income has increased by inflation over the past 3 years.)

Yes (My income has increased at a greater pace than inflation over the past 3 years.)

Q Have your expenses remained constant over the past 3 years?

No (My expenses have grown faster than my income over the past 3 years.)

No (My expenses have grown over the past 3 years at the same rate as my income has grown.)

No (My expenses have grown over the past 3 years at a lower rate than my income has grown.)

Yes (My expenses have remained constant or actually decreased.)

Q Do you save money regularly?

No (I do not save any money at all. In fact at times I have to use a credit card to get by.)

No (I only occasionally have the capacity to save however I do save on average 0%-10% of my net income.)

Yes (I can save regularly and would save on average 10% - 25% of my net income.)

Yes (I am a very good saver and would save on average over 25% of my net income.)

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Q What is the highest marginal rate of tax you pay?

(37-45%)

(32.5%)

(19%)

(0%)

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Q What do you contribute to your Superannuation?

(Nothing.)

(Only the minimum - what my employer contributes on my behalf (Superannuation Guarantee))

(An amount between my Super Guarantee (10%) and the maximum I can contribute.)

(I contribute the maximum allowable.)

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Q Do you know how much income (in today's dollars) you would require during your retirement?

No (I have no idea.)

No (I'm not sure, however I think it would be similar to what I earn now.)

Yes (I have estimated this but I am not sure if this amount is too much or too little.)

Yes (I am sure it is the correct amount to fund my desired lifestyle in retirement.)

Q Do you know how much savings are needed to provide your retirement income?

No (I have no idea.)

No (I'm not sure, however I think that with a combination of my assets and Centrelink support I should have enough to live on.)

Yes (I am pretty sure that I know how much I need but I am not sure if it will last longer than I do! I am also not confident that it will provide a level of income that will allow me to live the life I really wish to in retirement.)

Yes (I am sure what I need and that it will last longer than I do. I am also confident that it will provide a level of income in retirement that will allow me to live the life I wish to lead in retirement.)

Q Do you know about how much you would need to save or contribute to superannuation over time to reach that sum?

No (I have no idea.)

No (I do save however I do not know if it is enough.)

Yes (I do save however I am not 100% confident that I'll have enough in retirement. I'll find out when I get nearer to retirement.)

Yes (I do save and I know how much I need to contribute in order to have enough capital to fund my lifestyle during retirement.)

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Q Are you aware of your tolerance for investment risk; that is your feelings about the ups and downs that you might experience when investing?

No (I have no idea.)

No (I invest based on how I feel about the investment. Sometimes this means I feel uncomfortable when values fall.)

Yes (I have thought about this and have a good idea of this. I haven't however formally tested this and my investment portfolio is not developed with this in mind.)

Yes (I have had this formally tested and my investment portfolio is aligned to my tolerance for investment risk.)

Q Are the investments you have spread across different types of assets - like shares, property, bonds etc?

No (My investments are concentrated in 1 asset class.)

No (My investments are concentrated in 2 asset classes.)

Yes (My investment portfolio is invested across at least 3 asset classes.)

Yes (My investment portfolio is invested across all 4 asset classes both in Australia and Internationally.)

Q Do you have a clear idea of fees that you pay (for example for the management of your investment or superannuation)

No (I have no idea.)

Yes (The cost of my investment portfolio is over 1% per annum.)

Yes (The cost of my investment portfolio is between 0.5% and 1% per annum.)

Yes (The cost of my investment portfolio is below 0.5% per annum.)

Q Do you know how your investments (like superannuation) have performed against the average?

No (I have no idea.)

Yes (My investment portfolio has underperformed it's weighted benchmark.)

Yes (My investment portfolio has matched the performance of it's weighted benchmark.)

Yes (My investment portfolio has outperformed it's weighted benchmark.)

Q Are you interested in aligning your investment decisions with your views on sustainable development?

I don’t know (This is not something that I have considered in the past.)

No (This is not of particular importance to me.)

Somewhat (I would like to understand more about this.)

I am interested (I would like to give some consideration to these ideas.)

Yes (This is something I feel strongly about.)

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QIf you had no income, how many months could you fund your lifestyle from liquid assets? (Cash or Term Deposits)

(Less than 3 months.)

(Between 3 and 6 months.)

(Between 6 and 12 months.)

(Over 12 months)

QIf you required hospital treatment what percentage of your out of pocket expenses would be covered by your private health cover?

(0%. I have no private health cover therefore I would be totally dependant on the public health system OR I do not know.)

(0%. I do have private health insurance however it is basic and does not cover a private room or my own doctor in a public hospital.)

(Up to 50%. I do have private health insurance which covers a private room and my own doctor in a public hospital.)

(Between 50% and 100%. I do have private health insurance which covers a private room and my own doctor in a public hospital)

Q If you passed away unexpectedly, what percentage of your debts would be covered by existing insurance coverage?

(0%)

(Between 0% and 50%)

(Between 50% and 100%)

(100%)

Q If you passed away unexpectedly, or were hospitalised for a long time, how long could your existing insurance cover lifestyle costs of your family?

(Less than 3 months)

(Between 3 and 12 months)

(Between 1 and 5 years)

(For as much time as they required)

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Q Are you utilising debt to fund a wealth creation strategy?

No (I either have no debt or the debt was to purchase a lifestyle assets, like my home.)

Yes (However of the debt I have between 0% and 50% is being used for investment purposes.)

Yes (Of the debt I have, between 50% and 75% is being used for investment purposes.)

Yes (Of the debt I have between 75% and 100% is being used for investment purposes.)

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QDo you have a Will?

YesHowever it has not been reviewed for over 10 years and I am not sure if it accurately reflects my intentions.

YES (However it has not been reviewed for between 5 and 10 years. I believe it accurately reflects my intentions.)

YES (It has been reviewed in the last 5 years and I know it accurately reflects my intentions.)

Q Do you have Powers of Attorney in place?

YES and NO (I have an Enduring Power of Attorney in place but not a Medical Power of Attorney.)

Yes (I have both Enduring and Medical Powers of Attorney in place however I have no 'Secondary' power in place if my 'Initial' power fails.)

Yes (I have both Enduring and Medical Powers in place AND they both have 'Secondary' powers in place.)

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Financial Health Check Survey

Q How would you describe your attitude to money and your money management?

Q When I think about the future...

Q How would you rate your financial literacy?

Q Do you have clear short, medium and long term goals?

Q Do you know how you are tracking to these objectives?

Q Has your income kept pace with inflation over the past 3 years?

Q Have your expenses remained constant over the past 3 years?

Q Do you save money regularly?

Q What is the highest marginal rate of tax you pay?

Q What do you contribute to your Superannuation?

Q Do you know how much income (in today's dollars) you would require during your retirement?

Q Do you know how much savings are needed to provide your retirement income?

Q Do you know about how much you would need to save or contribute to superannuation over time to reach that sum?

Q Are you aware of your tolerance for investment risk; that is your feelings about the ups and downs that you might experience when investing?

Q Are the investments you have spread across different types of assets - like shares, property, bonds etc?

Q Do you have a clear idea of fees that you pay (for example for the management of your investment or superannuation)

Q Do you know how your investments (like superannuation) have performed against the average?

Q Are you interested in aligning your investment decisions with your views on sustainable development?

QIf you had no income, how many months could you fund your lifestyle from liquid assets? (Cash or Term Deposits)

QIf you required hospital treatment what percentage of your out of pocket expenses would be covered by your private health cover?

Q If you passed away unexpectedly, what percentage of your debts would be covered by existing insurance coverage?

Q If you passed away unexpectedly, or were hospitalised for a long time, how long could your existing insurance cover lifestyle costs of your family?

Q Are you utilising debt to fund a wealth creation strategy?

QDo you have a Will?

Q Do you have Powers of Attorney in place?

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