Project Description

We met Geoff and Allison in 2009 when they were in their early 30’s with a young family and both working in employed roles.  Their net wealth was approximately $900k and they had a long list of goals to achieve!  Some of these were:

  • Home renovations
  • New furnishings
  • Subdivision of an investment property and construction of 2nd inv property
  • Regular family holidays
  • Private school fees
  • Early retirement
  • Business aspirations

Our advice for Geoff and Allison included the use of a tax variation to smooth their cashflows, given their 2 investment properties and Centrelink advice to maximise family tax benefits.  There was a revision of superannuation products and a salary sacrifice strategy to improve tax outcomes.

A cashflow structure was also critical to help them capture surplus funds each month which was directed to both debt reduction and an investment portfolio.   Insurance and estate planning strategies were also implemented.

A few years into their plan a change in working arrangements raised the option of starting their own consulting business.  We advised that one of them remain employed and the other to commence the business, with the 2ndpartner joining the business once it was off and running.  Today, they are both employed within their business and looking to acquire further staff.  Now in their late 30’s, their net wealth has grown to $1.6 mill, they have no home debt, they’ve added another child to the family, completed significant renovations to their home, have enjoyed family travel and have the satisfaction of running their own small business.

Along the way, there have been many revisions to their original plan and the need for timely advice on cashflow and taxation matters to keep them on track.

A regular review service is paramount to a successful plan over time – providing measurement and accountability to goals.