Karen is 53 years old proprietor of her own business as well as the director and sole shareholder of the company. She has a self-managed superannuation fund (SMSF) of which she is a trustee with her adult daughter. She owns her business property in her SMSF and her business pays rent of $26,556 to her fund for the property. She receives a salary of $75,000 from the company as well as dividends, which are fully franked, of $60,000 per annum. Her home is unencumbered. Her SMSF borrowed some money to fund the property purchase.
Karen’s Specific Needs and Objectives
She wanted to maximize the wealth to be created from her income streams and existing assets
She was unhappy with past investment returns and management of her SMSF
She wanted to repay her SMSF debt as soon as possible
She also wanted to use tax effectively and save more for her retirement at age 65
She wanted a plan to fund her future retirement income needs and regular financial projections to ensure her strategies were working towards these objectives.
Recommendations on appropriate structures to hold her assets for wealth creation, flexibility and income.
Reviewed risk profile of Karen and made new investment recommendations based on this profile to assist in achieving better returns in the future.
Included advice on future contributions to be made to her SMSF to increase her retirement savings pool.
Repaid debt owing from the business property purchase
Reviewed existing insurance cover and advice on appropriate levels of cover for her future needs.
Ensured her estate plan was updated to reflect her current wishes including consideration of taxes paid by her children upon her demise.
Karen felt more comfortable about her retirement plans and future and felt a sense of ease that she would be able to achieve these goals and retire as planned.
Who Are Our Clients?
Our clients are confident, aspirational forward-thinkers who value financial well being at all life stages.