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FLORIDA SAVES, Withdrawal, PORFOLIOS CREATING PROCESS - Coggle Diagram

- - - - Reduce Pressure for financial department on social support for retirement
        
        Opportunity for Skilled Fund Manager to challenge themselves with huge fund (30 billion loan from the State)
- - - - 8% via income
    - - Cap at 10000
      - 4% cost
    - - Concessional contribution for auto enrolment
      - Tax return for self contribution
    - - 2 Stages
        
        Initial Stage
        
        Income
        
        50% LT Pot
        
        50% Liquid Pot
        
        Liquidity pot reach 2 month wroth of income
        
        Mature Stage
        
        Income
        
        90% LT Pot
        
        10% Liquid pot
        
        2 Withdrawal options
        
        LOAN
        
        Max monthly amounts
        
        50% monthly income
        
        Cap or total loan amount
        
        (6 months worth of income or Pot capacity whichever has smaller value ) x [Maximum of Drawdown]
        
        A drawdown refers to how much an investment or trading account is down from the peak before it recovers back to the peak
        
        Repayment option
        
        Installment via income
        
        Additional 5% every pay
        
        Default
        
        Asset in LT pot to be forfeited and transferred to non withdrawer liquidity pot
        
        Interest and Cost
        
        Matching Market loan interest
        
        No set up fee or cost
        
        Nature and purposes
        
        Using LT Pot as collateral
        
        Implied limit for self control and budgeting
        
        Funded
        
        Funded by Non Withdrawer Liquidity
        
        Assumed more than 50% will not withdraw their fund
        
        Assume Non Withdrawer will have more liquid
        
        Directly from LT POT
        
        10% cost + income tax
        
        3 Portfolios
        
        Balance
        
        Convert to Unit
        
        Allocation
        
        Definition
        
        Feature
        
        4 more items...
        
        Defensive
        
        Convert to Units
        
        Allocation
        
        1 more item...
        
        Definition
        
        Growth
        
        Convert into Units
        
        Allocation
        
        Definition
        
        Feature
        
        4 more items...
        
        ONGOING DEVELOPMENT
        
        Mobile App
        
        Website
        
        Tracking current portfolio
        
        Investor assessment
        
        type of investor
        
        Retirement planning
        
        Investment information
        
        Asset type
        
        Risk type
        
        Information
        Seminar
        Booklet
        
        Budget
        
        Expense
        
        Financial behavior
        
        Unit FEATURES
        
        The number of units (could be purchased) depends on the price of the units on the day of purchase
        
        The value of their account is based on the price of your units.
        
        The account balance is the total value of all units.
        
        Unit prices are usually calculated daily.
        
        Portfolio feature
        
        Can be switch once a year
        
        Self contribution can purchase any portfolio
        
        Investment options are designed for long-term investing, up to ten years or more.
        
        On registration, if no action/decision is taken, funds are automatically invested in the Balanced option.
      - LT Pot
      - Liquid Pot
  - - - Improve financial knowledge and skill on budgeting and investing
- - - - Supporting evidence from a medical professional must be provided
- - - - Max
        
        Pot capacity
- - - - Allocating Asset into
- - - - After repaid