Introduction to
Lifestyle Planning
Why you need an
investment strategy to
provide future income.
Contents
Introduction ............................................................................................................................................................... 3
Are you one of the lucky few?..................................................................................................................................... 4
How much will we need to live comfortably in the future?.......................................................................................... 6
Our family home should be worth $1 million by then. Does that mean we’re OK?...................................................... 7
The income curve – why you need to act now............................................................................................................ 8
Why a comfortable future depends on a wealth creation strategy................................................................................ 9
Longevity and the health care crisis............................................................................................................................. 10
The rising cost of health.............................................................................................................................................. 11
Why not just keep working?........................................................................................................................................ 12
How much time have you got left?.............................................................................................................................. 14
What’s it to be?........................................................................................................................................................... 16
Getting started............................................................................................................................................................ 17
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© McCarthy Group 2011
Introduction
Have you ever wondered why some people seem to have all the luck
when it comes to their financial affairs, while others who work hard
throughout their lives end up with relatively little?
Do you ever stop and wonder just how you are ever going to be able to
save for the future, when everything you earn just seems to disappear
and there’s nothing left at month end?
If the challenge of simply making ends meet already feels like all you
are able to manage, what needs to change so that you can provide for
the future, particularly as we move through tough economic times?
If this sounds like you, rest assured you are certainly not alone!
The good news first of all is that we are fortunate to live in a country
that stands out like a shining beacon in a dark and troubled world.
Stephen McCarthy
CEO McCarthy Group
We appreciate our stability, strong economy, our natural resources,
good governance, beautiful environment, and the opportunity to have a
fair go. Compared to the rest of the world, who wouldn’t want to live in
‘the Lucky Country’?
Despite all that we have going for us, however, there is a massive
difference between the lifestyles enjoyed by those who are still at work,
and those who have retired.
Government data shows that nine out of every ten Australians retire into
circumstances that are not financially comfortable. In fact, they could
be characterised as economic hardship.
Why is this the case? Could it happen to you?
We answer these questions, and many more, in this introductory guide
that explains just how important it is for you to have a proper plan in
place to support your retirement. We will look at key issues like:
• The income shortfall most people face
• How much you’ll need as an asset base for a comfortable retirement
• The income curve and how it drops when work stops
• How increased longevity increases your income needs
• The reality of our ageing population and what it means for you
• The importance of time, and how much you need to grow your
asset base
• How to get started on an investment strategy.
The bottom line is that we would like to alert you to the reality that
confronts most Australians, and give you the opportunity to do
something about it while you still have the time.
Further good news is that despite the challenges that lie ahead, there
is a solution, and McCarthy Group can help you to get started, and
support you each step of the way.
I trust that you will find this guide to be helpful, and wish you every
success at the start of your investment journey!
Stephen McCarthy
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Are you one of the lucky few?
If you are fortunate, you will be amongst the 10 per cent
of Australians who will have a source of income that
enables a comfortable standard of living in the years
after work has stopped.
90%
10%
The good news is that through McCarthy Group’s
Lifestyle Planning process, you will have the opportunity
to get an exact fix on your current situation, and be able
to project forwards, to see your likely future position.
We call it ‘The Helicopter View’ because it feels like you
have gone fast forward in time, and can then look down
to get a clear view of your overall situation. The bad
news is that for most people we see, the picture looks
something like this:
Most Australians’ super will
provide only 20% of their
required income
Income
shortfall
80%
If you are like the vast majority, however, when
employment stops so too does the monthly income.
When this happens, superannuation, savings,
investments and the aged pension are often inadequate,
even together, for anything more than the most basic
of living standards. That might not sound like the right
ending to the Great Australian Dream, but unfortunately,
that’s reality for most people in retirement.
Income
provided
The chart below shows the increasing reliance on
government pensions and allowances through retirement
as income from super and other sources is exhausted.
The picture for retired women is even worse.
20%
Main source of personal income
Retired men – aged 45 and over
How we finish up in this situation has a lot to do
with what we are taught when growing up, and the
value system we learnt from our parents and others.
For example:
%
• “Debt is a bad thing”
100
80
Government pensions and allowances
Superannuation/annuity/allocated pension
Other income e.g. income from dividends or rental property
Nil or negative income
• “Rich people aren’t nice”
• “We don’t deserve more than we have”
• “The government will look after us”
60
• “Investing is only for smart people”
40
• “We’re doing all we can with the money we earn”
20
0
• “We’ll increase our retirement provisions when the
kids are out of the house”
0-4
5-9
10-14
15-19
20 or more
• “It’s best to pay off the mortgage first.”
Years since retirement
Source: Australian Social Trends, March 2009.
At http://www.abs.gov.au/AUSSTATS/[email protected]/Lookup/4102.0Main+Features50March%202009, 20/02/2009.
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Procrastination is also a major cause. We all have a
tendency to put off important things that need doing
when they aren’t really urgent, in favour of other more
pressing, short term ‘things to do’, even if they are lower
in overall importance. So the important stuff just doesn’t
get done.
We won’t explore these unhelpful thought and
behaviour patterns right now. Instead, we will focus on
the outcomes, and look at how your own retirement
funding is developing. Take comfort in the knowledge
that if you do face an unpleasant surprise once your
future financial position becomes clear, you still have
the opportunity to do something about it, as time is on
your side.
We should also point out that the Lifestyle Planning
model is not only focused on creating sufficient income
for a comfortable retirement. It’s far broader than that,
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and our goal is to help you set your financial goals and
priorities, and develop a strategy that will allow you to
achieve them.
Your priorities could include, for example, the education
of your children, an overseas trip, a new car every
five years, becoming a stay-at-home mum when your
children are a certain age, or renovations for the
family home.
If the creation of a future source of income seems
to be the focus of our model, this is because it is the
single most important requirement for a comfortable
retirement. If you can achieve sufficient retirement
income, do you think you’ll be able to achieve your
other financial goals as well?
How much will we need to live comfortably in
the future?
When asked the question “how much money will you
need in retirement?” people often reply that they simply
want to be “Just comfortable. Not rich, just comfortable.”
Let’s put this on the table right now, so that there are no
misunderstandings about just what we are talking about,
and how difficult ‘just being comfortable’ is going to be
for most people to achieve.
Many people we speak to feel that they could be
comfortable if they had an income of 70% of their
current net earnings. Let’s suggest a figure of $50,000
per annum, after tax, as a reasonable target for a couple.
That’s probably less than you are currently living on.
Then again, the kids will be off your hands, your living
expenses will be down, and with a bit of belt-tightening,
you should be all right. Or will you?
Let’s assume that today was your last day of work. What
size investments or asset base would you need to enable
an annual income of $50,000 per annum?
The answer is quite simple. At an average annual return
of 5%, you would need a lump sum of $1 million. This
could be in the form of superannuation, shares, cash,
property, or a combination. Do you have $1 million, to
enable an income of $50,000 per annum once you’ve
stopped work? This doesn’t include the value of your
home, however, for reasons we’ll share with you later.
less, at $18,500.1 Women typically have less due to
interrupting their careers to have children. They are also
more likely to have a casual or part-time job, where their
income may fall below the $450 required for employer
super contributions.
The age pension amounts to $1011.42 per fortnight
for a couple ($505.70 per person), and with an everincreasing pool of retirees who will need to draw on
it, would you agree that the chances of any meaningful
increases in the future are very remote?
Even taken together, super and the age pension are
not enough to sustain you comfortably through two or
three decades of retirement. The typical super provision
is only enough to last three or four years, never mind
decades! What happens after that? You guessed it –
eking out a meagre existence on the age pension, or
living with the support of the children.
Super and the age pension provide people with false
hope and a false sense of security. This needs to be
unmasked and shown for what it is. Assuming that super
and the aged pension will somehow ‘be there’ when
needed is a total misconception that deceives people,
and prevents them from taking the right action at the
right time. Unfortunately, by the time they discover the
truth, it’s usually too late to do anything about it.
We need to bear in mind that $50,000 in today’s money
will be over $60,000 in just five years’ time. That will
mean you’ll need assets of $1.2 million by then. The
effect of inflation is dramatic, but because it sneaks up
on us at only 4 per cent a year, we lose sight of how it
adds up over time, and leaves us short.
“Inflation is as violent as a
mugger, as frightening as an
armed robber and as deadly
as a hitman.”
Are you likely to have an asset base of $1 million to
support a retirement income of $50,000 a year?
– Ronald Reagan, former US President.
Unfortunately, it’s likely that you won’t. Here’s why:
right now the average Australian male has a balance
of $31,250 in his super fund, with women having even
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You might know people right now who can relate to this
situation. However, in our personal lives, we protect
ourselves from negative things by saying to ourselves,
“It’ll never happen to me.”
1
A Fairer go for Women and Super. At http://www.superannuation.asn.au/
mr091124-2/default.aspx, 24/11/2009.
2
Centrelink. At http://www.centrelink.gov.au/internet/internet.nsf/payments/
age_rates.htm, 18/03/2011.
Our family home should be worth $1 million
by then. Does that mean we’re OK?
Unfortunately the answer is “no.” For many families,
when the work cheques come to an end it doesn’t
mean that the family mortgage has been paid off. Many
couples still have to keep paying the mortgage once they
have retired. Yes, there is equity that has built up in the
home, but you still need somewhere to live. Even if you
sell the home, and downsize, there are costs involved,
and at the end of the day, you can’t ‘eat’ your home.
We recommend that the value of the family home is
kept out of the future value equation. That said, it could
play a valuable role, for example in enabling other
investments to take place, without risk, as part of a
wealth building strategy.
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© McCarthy Group 2011
Did you read the shock report of the Productivity
Commission in December 2010, recommending that
elderly people sell the family home, so they can fund
their future aged care costs? Is this how you thought it
would play out? After a lifetime of hard work, and paying
off the mortgage and interest for all those years, that you
would then have to sell your home, and give the money
to the government to pay for your aged care costs? Me
neither. Thankfully there are alternatives, as we will see.
The income curve – why you need to act now
The chart below reflects a typical income curve. A year
12 school-leaver in their first job will naturally be on a
low starting salary, probably the lowest of any time in
their working career.
Over time, with wage inflation, job experience, and
with promotions and new opportunities, income rises
steadily. Most of us reach our peak earnings somewhere
between 40 and 55. Once we retire, the curve flattens
out for a few years as we use up our superannuation
funds. Once these reserves are exhausted, our income
plummets and reaches a point where the average retiree
has significantly less income than when they were
straight out of school!
The income curve
– ABS March 2009.4
Please stop for a moment and reflect on what you have
just read. Think of your current income and expenses,
and ask yourself how long a lump sum payout of
$60,000 would last in support of your current lifestyle?
You also need to appreciate that once this has gone,
there is only the government’s age pension to fall
back on, which at $505.705 per week for a couple,
is inadequate for anything beyond the most
basic existence.
While some people we talk to regard 65 per cent of
current income as the absolute minimum they would
need to come out comfortably, without making too
many sacrifices, the majority feel that 70 to 80 per cent
is more realistic.
140000
120000
100000
Income
Receiving a superannuation benefit does not
necessarily guarantee a comfortable standard of
retirement living. In 2007, 78% of the 206,700
retired Australians who had received a lump sum
superannuation payment within the previous four
years had received less than $60,000.
80000
60000
40000
20000
0
18
24
30
36
42
48
54
60
66
72
78
Age
84
Without a clear plan most people won’t get close to this
target, or reach their full potential. They will never be
financially free the way they would like to be. 80 per
cent will claim they are not truly happy simply because
of a lack of money. This is a direct result of going
through life oblivious to what lies ahead, as if they are
unconscious, asleep at the wheel, or in denial. Do you
know anyone like this?
To illustrate, the minimum wage before tax is $15 per
hour, or $570 per week. The age pension as at 3 June
2011 is $335.453 per week (single person) and $252.85
per week for each person in a couple Yes, you read it
correctly. $335.45 per week.
Many people assume that somehow the age pension
and their super will provide enough for them to live
on. In other words, that ‘the system’ will provide for
them. Unfortunately this is not the case. The income
curve chart plummets as it does because the funds
in superannuation are inadequate to go the distance,
and the age pension is so low. This is spelt out in the
following Australian Bureau of Statistics (ABS) extract.
Centrelink. At http://www.centrelink.gov.au/internet/internet.nsf/payments/age_rates.htm, 18/03/2011.
Australian Social Trends, March 2009. At http://www.abs.gov.au/AUSSTATS/[email protected]/Lookup/4102.0Main+Features70March%202009, 25/03/2009.
Centrelink. At http://www.centrelink.gov.au/internet/internet.nsf/payments/age_rates.htm, 18/03/2011.
3
4
5
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Why a comfortable future depends on
a wealth creation strategy
“Give a man a fish and feed him for a day, show him
how to fish and feed him for a lifetime.”
– Anon.
It is a fact that over 90 per cent of all Australians are
under-provided when it comes time to retire. This is very
sad, because it means that:
• They will have a significant drop in lifestyle when
their income stops
• They will have inadequate resources to fall back on
due to a lack of preparation in the years when they
were earning, and
• They will be a burden for the government and for
future generations.
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This is the situation today. This is reality for hundreds of
thousands of retirees, and the first of the huge wave of
baby boomers are only starting to retire this year (at the
time of writing, April 2011), as they turn 65.
The only way to ensure that you don’t end up short is to
change your thinking about the future, and take action
now to ensure you lay the foundations for building your
wealth during your working years.
Longevity and the health care crisis
The increase in lifespan due to improvements in medical
care and awareness of healthy living and lifestyle means
that many future retirees will live well into their eighties
and nineties. This is good news, but it does mean we
face an increasing period where we will need to fund
ourselves after our monthly pay cheques have ended.
An unintended consequence of our living longer is the
dramatic increase in the numbers of retirees and the
worrying reduction in the number of people in the
workforce to support them. The latest projections are
that by 2050 there will only be 2.7 people of working
age to support each person over the age of 65.6 That is
a significant reduction from the five people working to
support each retiree today, and the 7.5 people who did
so in 1970.
This has a double impact on the government’s budget.
Number of people
to support retirees
8
7
7.5
6
5
5
4
3
• Firstly, more retirees will be reliant on a pension for
their daily needs.
2
• Secondly, the health care costs will be under
increasing pressure, as they have to fund more and
more retirees, living longer, and expecting the
best treatment.
1
2.7
0
1970
2010
2050
Source: Swan, W. Australia to 2050: future challenges.
At http://www.treasury.gov.au/igr/igr2010/report/pdf/IGR_2010.pdf, 2010.
6
PM warns of ageing population time bomb. At
http://www.smh.com.au/national/pm-warns-of-ageing-population-time-bomb-20100118-mgst.html, 18/01/2010.
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The rising cost
of health
Recent Treasury forecasts show that health spending
will rise to 7.1 per cent of GDP by 2050, compared to
4 per cent today. This means $7,210 per person per
annum (in today’s dollars) compared with current
spending of $2,290.7
The costs of aged care will also increase in similar
proportions. The government has projected that the cost
of aged care will quadruple from $460 per person today,
to $1,840 in 2050. This cost for aged care includes:
accommodating half a million elderly people in nursing
homes, as well as personal care and living expenses.
Taxpayers’ contribution to fund these expenses will
increase from 0.8 per cent of GDP to 1.8 per cent.8 This
excludes the personal contribution made by elderly
people towards the cost of their care. These changes are
set out in the chart below.
Federal expenses (% GDP)
These are very disturbing trends. Australia is not alone
in this, with many countries facing a huge increase in
the number of retirees who will need to be supported,
and the huge cost of doing so. We have already seen
the riots in France and Portugal when laws were tabled
to raise the retirement age from 60 to 62, with people
protesting violently as they realise they are going to get
far less in the future than they thought previously.
Parisians riot as government
raises retirement age!
8
6
4
2
Health
Age-related
pensions
Aged care
Other
income
support
Education
2009-10
2049-50
Source: Swan, W. Australia to 2050: future challenges.
At http://www.treasury.gov.au/igr/igr2010/report/pdf/IGR_2010.pdf, 2010.
Defence
Our government is facing a crisis of funding as our life
spans keep increasing, health care costs keep rising, and
as there are fewer and fewer people in the workforce to
support all the retirees. What seems certain is that there
will be no money to increase what is paid to pensioners,
meaning that unless you develop a plan to provide future
income, you need to be prepared to go without.
Prime Minister Rudd’s Keynote Address at the launch of Organ and Tissue Donor Awareness Week.
At http://pmrudd.archive.dpmc.gov.au/taxonomy/term/10?page=4, 23/02/2010.
Colebatch, T. “Secrets to ageing gracefully” at http://www.smh.com.au/national/secrets-to-ageing-gainfully-20110107-19ix3.html, 8/1/2011.
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8
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Why not just keep working?
The best solution that the government has come up with
so far is to legislate to keep us working by increasing the
retirement age. This has already happened in the 2010
budget, where the retirement age was increased from
65 to 67. I am sure this is not the sort of development
that you had in mind! That won’t be the end of it either,
given the numbers involved, and the increased costs in
health and longevity. An official retirement age of 70
could soon be on the cards, and I recently heard one of
our political leaders suggesting 72 as a possibility!
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This ‘work longer’ option is very attractive for the
government. Each additional year you spend
working means:
• One more year of super that goes into your
retirement savings account
• One year less that the government has to
pay you support
• One more year of taxes for the government to receive
• An alleviation of the skills shortage and wage pressure
facing this country.
How do you feel about having to extend your working
life by a further two, three or even five years, simply
because there will be too many people of a similar age
and life stage by then? This will come at a time when
you’ll feel you’ve already worked long enough, and
when you were really looking forward to starting a new
phase in life, with fewer responsibilities and at last, the
time available to do the things that you never had time
for before.
The graph below shows the changing shape of our
population over the period ahead. There is nothing
that will change these facts. It is important for you to
be aware of them, and understand the implications. It
is precisely this knowledge about what lies ahead that
may encourage you to make the decision to change your
current course, and take actions that will enable you
to retire earlier than 65, at a time you choose, with the
income needed to support a long and comfortable life.
Our ageing population
% of population, by age group
100
2
12
2
14%
14
3
16%
18
4
21%
19
5
23%
80
20
25%
60
67
66
63
61
60
40
85 and over
65-84
15-64
0-14
20
19
18
16
16
15
2007
2017
2027
2037
2047
0
Source: The Sun Herald, 22/11/2009, pp.56, 57.
Do these future projections come as a shock to you? If
so, why do you have to worry about them right now?
Can’t you put them aside for a while and deal with them
later? The answer comes back to the word ‘time’, which
in the field of investment, is the biggest influence on
your prospects of future success.
When you run out of time, you run out of options. As
the saying goes, “When you’ve got the money, you
haven’t got the time. When you have the time, you
haven’t got the money.”
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“He that lives upon hope
will die fasting.”
– Benjamin Franklin.
How much time have you got left?
The chart below has six boxes, with each box
representing 15 years of your life. (We have taken
90 as a good yardstick to aim for, as this is becoming
increasingly likely in terms of current life spans
and projections).
Years in your life:
1
16
31
46
61
76
2
17
32
47
62
77
3
18
33
48
63
78
4
19
34
49
64
79
5
20
35
50
65
80
6
21
36
51
66
81
7
22
37
52
67
82
8
23
38
53
68
83
9
24
39
54
69
84
10
25
40
55
70
85
11
26
41
56
71
86
12
27
42
57
72
87
13
28
43
58
73
88
14
29
44
59
74
89
15
30
45
60
75
90
Where are you on this chart? Just starting out?
Somewhere in the middle? Take a moment to work
out where you are. Then cross out the numbers that
represent your life to date. Now highlight the years that
you plan to spend in retirement.
The area that is left open are the years that you have left
to develop and implement an effective wealth creation
strategy to provide you with a comfortable lifestyle
through your retirement years.
“The time to repair the roof is when the sun is still shining.”
– John F. Kennedy, former US President.
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“An idea that is developed and put into action is more
important than an idea that exists only as an idea.”
– Buddha.
Let’s say you are 40 years old now, and that you plan to
retire at 60. That means you have 20 years to go. That
also means 240 more pay cheques. That might sound
like a lot, but how much are you saving from each pay
cheque right now? If you are like most people, and
spending all that you earn, and then a bit more on credit,
will you ever save enough to carry you through three or
four decades of retirement? That’s why unhappy endings
are far more common than happy endings.
The good news is that there is a way, and we will work
through it with you step-by-step. The important thing
to grasp right now is that you have a major challenge
ahead. The first step in solving it is to understand the
nature of what is happening, and the situation that you
will find yourself in unless you decide to take action to
create the required change, starting now. There’s nothing
to be gained in putting things off, or procrastinating.
All this will lead to is lost time and lost opportunity.
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Having been made aware of these big picture realities
that are being played out across Australia every minute
of every day, you have two choices. Firstly, to forget
about them, and hope that something will happen
to change things in your own situation, like a big
win in Lotto (at odds of about one in 27 million) or
an unexpected inheritance. Or secondly, to face the
situation, and resolve to meet the challenge in the
interests of your whole family, and in the interests of the
quality of life you deserve after a lifetime of work.
“Lost years are worse
than lost dollars.”
– Yiddish proverb.
What’s it to be?
“The longest journey
starts with the first step.”
We are going to make the assumption that you feel you
deserve a financially secure and comfortable retirement.
The next step, therefore, is to zoom in on your personal
situation, and put together the picture that holds true for
you, to see if you are headed in the right direction.
– Lao Tzu.
We will help you take this first step by presenting your
financial future to you in the space of 20 minutes. We
will then work through the analysis and the implications
of your situation with you. Once you have made a start,
you are on your way. If you then continue the journey,
you will end up in a very different place from where you
are currently headed, of that you can be sure.
“Give me six hours to
chop down a tree and
I will spend the first four
sharpening the axe.”
– Abraham Lincoln.
This is the process that we are now beginning. Planning
and strategy are the keys. Ask yourself the following:
• Would a pilot leave on a trip without a prepared
flight plan?
• Would a builder start work without an
approved design?
The answer is clearly, “no.” Therefore it’s ironic that
when it comes to our own lives, so many people simply
live from day to day, without clear goals, without a plan,
simply flowing wherever the river of life chooses to take
them. Lifestyle Planning is all about taking charge and
developing a wealth creation strategy that can help you
achieve life-changing results.
Having read this Introduction to Lifestyle Planning, you
may well appreciate why it is so important for you
to develop a future source of income to replace your
employment income when work stops. However, we
have seen that while everyone would hope to reach this
position, few actually achieve it. The reason is that a
concrete strategy is needed to turn hopes and dreams
into reality.
“To accomplish great things, we must not only act
but also dream, not only plan but also believe.”
, ten
to be in five
you want
e?
Where do
years tim
or twenty
Planning
Lifestylyeinto the future
A journe
20
30
The Helicopter View
40
50
80
The Gap
6
Missing
Income goal
−••
•
•
Asset base required
%
5
Have
Asset base required
Months left in workforce
Total taxation 3
This is the gap
between what
you have and
what you need.
This is the future asset base
required to maintain your
standard of living.
Total career
earnings 3
Estimated
superannuation
(A+B) 9
Income from
total assets
Other assets 7
+
Shortfall or surplus
from future asset
base required
Your savings
commitment
Save
X
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© McCarthy Group 2011
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Getting started
We have seen that while we would all hope to be in a
position where we can retire in relative comfort, only a
small fraction of the population actually achieves this.
Why is that the case? In our view, it’s because most
people are too busy earning a living to set aside the
time needed to ensure there is sufficient income when
work stops.
As mentioned in our introduction, the good news is that
there is a solution. Since 1999, McCarthy Group has
worked with thousands of families across Australia to
analyse their current and future financial positions and
develop tailored investment strategies to enable them to
achieve a comfortable future.
We will share more insights with you on
subjects including:
• The income trap – where all our money goes
• How tax and our mortgage consume most of
our income
• How much you need for a comfortable retirement
“If you can dream it,
you can do it.”
–17Walt
Disney.
© McCarthy
Group 2011
• Why superannuation and the age pension can
never be enough
• Why we have so little invested in savings,
shares and property
• How inflation erodes the value of future income
• Your situation, and the information you need to start
your investment journey.
We are also able to help you establish your financial
goals and develop a tailored investment plan that sets
you on the road towards achieving them, all based on
your personal income, tax, mortgage, savings and overall
life situation.
We look forward to taking that important next step
in your life journey with you, and we will be there to
support you, every step of the way.
For further information on how McCarthy Group can
help you achieve a secure and comfortable financial
future, please call us on 1300 850 318, or email us at
[email protected].
Act Now
Don’t put the decision off any longer. Make the first
move towards becoming one of the thousands of
investors whose lives have been changed forever.
For a free consultation with absolutely no obligation,
contact McCarthy Group today on 1300 850 318, or
email us at [email protected]
It could be the most valuable call you’ll ever make.
McCarthy Group Pty Limited ACN 086 284 826
Building 2, Suite 2.01
35 Waterloo Rd Macquarie Park NSW 2113
PO Box 42 North Ryde BC NSW 1670
T 1300 850 318
F 02 9687 3610
E [email protected]
www.mccarthygroup.com.au