Darryl & Dylan’s Story

I had the opportunity to meet a wonderful couple, Darryl who has recently retired after successful career and Dylan who is talented and has ambitious plans for the future.

Darryl and Dylan were looking for a couple of solutions:

Firstly, to combine their superannuation and be in control of their investments in super; and

Secondly, to create a structure for personal investments and to maximise their skillsets with business plans they collectively have while protecting their assets and minimising their tax.

Darryl and Dylan now control their own Self-Managed Super Fund and can use their business experience and investment expertise with some investment guidance from Edge7 to maximise their superannuation for the future.

Darryl and Dylan also have their own family trust which will allow them to make property investments and build their businesses in a tax friendly structure that protects the assets held within the trust.

Darryl and Dylan can now move forward with their lives and pursue their goals and interests with the right structures in place.

 

Judy’s Story

I had the opportunity to help a lovely woman who was in the final stage of downsizing her home. Judy a competent personal assistant was looking for a solution to make sure she will have enough income in retirement.

After reviewing and then re-reviewing her situation, I have recommended the implementation of concessional contributions into Judy’s superannuation fund thereby reducing her income tax and boosting her superannuation balance while still working.

Judy with the right advice from Edge7 Financial will now invest a portion of her money generated as a result of downsizing her home into a portfolio of high quality dividend paying shares held directly in her name and the remainder in a high interest cash account.

Edge7 Financial now provides the investment portfolio advice, ongoing management and regular reviews of Judy’s financial circumstances in order to ensure Judy has more than enough income in retirement to meet her lifestyle goals.

Judy can now plan her transition from the work force when the time is right and look forward to spending more time with friends and family in the years ahead.

 

Maria & Joseph’s Story

I had the opportunity to help a beautiful retired couple that were not happy with the investment performance of their self-managed super fund (SMSF). Joe now retired ran a successful business for many years. Their accountant who set up the SMSF had outsourced the portfolio and investment decisions to an investment company.

After reviewing their situation and the portfolio of shares held by their SMSF, I discovered that the portfolio set up by the investment company was comprised largely of low quality low performing shares which was clearly limiting the investment performance and as a result, limiting Joe and Maria’s income in retirement.

Edge7 Financial now provides the investment portfolio advice, ongoing management and regular reviews of Joe and Maria’s SMSF. Their portfolio now consists of high quality dividend paying shares which will produce better investment performance and generate a greater level of income in retirement for Joe and Maria.

Joe and Maria can now get back to living their life by spending more time with their grandkids and also enjoying trips up and down the NSW coast.

 

Diane & Jack’s Story*Diane & Jack's home

I had the pleasure of meeting a lovely couple recently. Diane & Jack are in their mid 30’s and have two primary school aged children. Jack works full time as an electrical installer and Diane works school hours as an office administrator.

When I met with Diane & Jack, they had three main goals:
1. To pay off their family home sooner;
2. To set up adequate insurance protection; and
3. To find a way to buy investment property for the long term.

Diane & Jack bought a three bedroom home near Parramatta about six years ago and still owe $300K on that home. They have always paid above the minimum repayments on their mortgage and while they are well ahead of the original 30 year mortgage, they still have about 18 years to go to pay off their home in full based on current repayments. This 18 years was not satisfactory as they realised they would be aged in their early to mid 50’s before owning their home. Diane & Jack thought this was too late in life to then be able to set up a comfortable retirement by age 65.

While they have always paid extra into their mortgage, they admittedly were not really that good at keeping to a budget and spent a bit too much at times without thinking twice. Having reviewed their household budget, I was able to find $730 per month of surplus money that they could not really account for.

In reviewing their circumstances and goals, I came up with the following plan to make better use of that $730 of available income each month.

I recommended they add an additional $450 per month to their mortgage payments. This resulted in an interest saving on their mortgage of $41,450 and five years off their mortgage. They will now own their home in their own right in 13 years time and still be in their forties when this occurs.

Of the remaining $280 per month, $230 per month has been used to set up adequate life insurance and income protection. This has given them peace of mind to know that the mortgage will be paid and there will be food on the table if something were to go wrong.

The remaining $50 per month has been added to their “fun fund” so they can enjoy life with their children that little bit more.

Diane & Jack also had five superannuation accounts between them. They did not watch their super closely but suspected these accounts were not really performing from an investment point-of-view. Plus, these five super accounts were accruing $3,400 in fees each year.

Considering Diane & Jack’s third goal of investing in more property, they have taken my advice to consolidate these five superannuation accounts into their own self managed super fund in order to invest in residential property. This will save them over $800 per annum in super fees and allow them to achieve that goal of owning more property by retirement age. And, they are also going to diversify a small portion of the SMSF into ASX share investments that pay fully franked steady dividends.

The $800 per annum saved in super over 30 years adds up to another $24,000 of savings by age 65.

In summary, by spending 90 minutes with me in an initial consultation and a couple of hours of paperwork over the following month, Diane & Jack have the following benefits:

Saved $41,450 in interest on their mortgage.

Saved $24,000 in superannuation fees by consolidating their accounts into one SMSF

Total saving $65,450.

Plus, they will own their home five years earlier. The compounding effect of owning their home five years earlier has a multiplier effect which will add $100,000’s to their wealth by the time they retire.

My projections now suggest that apart from their family home that they will own four investment properties outright (two inside super and two directly) by age 65 and they will have a decent share portfolio within super as well courtesy of my ASX share investment advice. This is projected to provide Diane & Jack with an income of over $2,000 per week in retirement and set them up very comfortably.

And, they have done this while protecting each other and their children with the right insurance protection in case some unfortunate circumstances were to pass.

Diane & Jack are a true success story and most importantly a lovely family orientated couple!!!

 

Cathy & Ben’s Story*

I had the opportunity to work with a very motivated recently married lovely couple that had been considering setting up their own Self Managed Super Fund to invest in residential property.

Cathy & Ben in their mid to late thirties have a great deal of investment property expertise between them, however, with their busy lives, setting up their own SMSF for the purpose of investing in property was one of those goals that they never got around to.

After reviewing their situation, I discovered that Cathy & Ben had six superannuation fund accounts between them. These funds were not really performing from an investment point-of-view and each of these six super funds were accruing a variety of fees.

We have consolidated their six (fee generating) super funds into their own Self Managed Super Fund saving them over $500 per annum in superannuation fees which equates to over $15,000 by retirement age. Cathy & Ben with the help of our clear investment strategy can now control their own financial destiny by using their expertise to invest in in property with a small portion invested in shares courtesy of my share market advice.

In projecting their property portfolio out 25 years until retirement, I forecast that Cathy & Ben will own 25 properties inside and outside of super generating an income of at least $300,000 per annum in retirement. Cathy’s goal is to have 30 properties, and being a determined young woman, I reckon she might just get there!!!

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