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Clients are Malcolm and Lucy have worked hard for many years and retirement is on the horizon, however, because compulsory superannuation did not commence for some time after they turned 18 and Malcolm had been busy running the family business and Lucy spent most of her early working life raising a family and paying off a mortgage, your superannuation is far lower than ideal when compare with their peers.
Now is the time to act, there are many strategies available to support them but time is of the essence.
Malcolm and Lucy’s children are now grown and moved out of the home. From time to time they do require the support of Mum and Dad but it is becoming less and less.
As Malcolm and Lucy beginretirement, they begin to think about the lifestyle they wish to maintain, cities and countries they wish to see or return in the years to come and whether their superannuation is adequate to fund their retirement. What steps you should be taking to ensure you are certain of the lifestyle you will lead in retirement.
GOALS
- Payout Mortgage
- Travel both domestically and overseas now and in retirement.
- Build upSuperannuation.
- Retire no later than 65 and most importantly maintain lifestyle at retirement.
Andrew worked analysed Malcolm and Lucy’s present circumstances and identified the ongoing financial objectives needed to reach the clients’ goals. He then developed and put in place the essential wealth building strategies to achieve the desired outcome for retirement. In doing, so he identified significant tax benefits that would have otherwise been lost.
The strategic direction allowed sufficient allocation of funds for wealth creation while maintaining the clients’ current lifestyle.
The process included a review of all their assets and liabilities and ensure the appropriate estate planning needs and wills were addressed.
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