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Point 1: Simon and Janine Mackintosh are married. They are both 65 and have just retired. They have $1,500,000 funds in a combination of superannuation and non-superannuation investments. They own their home which they intend to retain as their home during their retirement phase. They do not have any debt. They plan to spend $60,000 p.a. in retirement and do not have any further planned annual or lump sum expenses.
Point 2: They have two daughters to whom they would like to eventually leave their home and remaining investment assets upon their deaths.
Point 3: Simon and Janine are able to tolerate some investment fluctuations, although they would be very concerned if their investments fell by 40% in any year. Throughout most of their working life, they invested their funds in growth investment options comprising 15% defensive investments (cash and fixed interest) and 85% in growth investments (shares and property). However, they want to change their asset allocation now that they are both retired.
Point 4: Simon and Janine are both healthy and they are each expected to live approximately 20 more years
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