Alicia’s Savings Plan
Recently finished her apprenticeship as a Sous Chef, she already has four job offers. Still living at home with parents, Alicia wants to buy her first unit as soon as she has enough saved for a deposit. Having only to pay off TAFE fees, her financial independence is sound. She is even considering a second part-time job to fast-track her savings and round out her work experience to set the stage for a 1-year travel junket studying with the great chefs of Europe.
| Alicia’s Action Plan |
When she discussed her plans with a financial adviser, Alicia prioritised her goals. She found that with aggressive savings and a flexible investments plan, she would likely be able to buy a unit in one year. After calling it home for at least a year, she would then rent it out while she ramps up her Chef skills overseas. While still in her early twenties, she will soon start looking at various insurance options. Once employed, Alicia will contact her financial adviser to review her Super plan and discuss whether she’s a candidate for Choice of Funds.
