THE FINANCIAL PLANNING

Running head: FINANCIAL PLANNING
FINANCIAL PLANNING
Name of the Student
Name of the University
Author Note:

FINANCIAL PLANNING2
Table of Contents
Introduction......................................................................................................................................3
Discussion........................................................................................................................................3
Superannuation............................................................................................................................3
Tax Planning................................................................................................................................5
Budget Planning...........................................................................................................................6
Conclusion.......................................................................................................................................6
Reference.........................................................................................................................................7

FINANCIAL PLANNING3
Introduction
The financial position of an individual shows the financial condition of the individual
with respect to the current balance of the assets, liabilities and capital invested by the individual
himself. This financial position reflects the standing of the individual aggregating the amount of
assets acquired, liability borrowed and capital invested (O'Hare, 2016). These three factors sum
up the financial position of the individual, business or entity, and these factors have led
statements of financial position to become one of the essential parts of the reports. In the given
case, Ashleigh has been planning to get his financial affairs in order and wants to improve her
overall financial position and therefore, he requires the recommendation of the financial planner.
Discussion
Ashleigh has been planning to improve her financial position, while she is comfortable
with the existing investments in her social security, existing insurance, and estate planning
arrangements. Working as a nursing supervisor, Ashleigh wished to improve her financial
position, she wanted to get recommendation regarding the ways which will help make her
financial statement and financial position strong (Fagerström, Lønning and Andersen, 2014). To
improve the financial position, Ashleigh should focus on superannuation, tax planning and
budget planning.
Superannuation
Superannuation is an arrangement to encourage people to invest their income from their
income stream and accumulate them to use them at the time of their retirement (Ingles, 2014).
The Government of Australia has also set some standards, which has made it compulsory for
every employee to contribute to the superannuation at a rate of 9.5%. An individual can