People between 25-45 and looking to get their finances on track – they typically require help to save for a property deposit or pay off debt, implement a regular savings plan and insurances.
Stephen and Mary are in their mid 30’s and have 2 young children. Stephen works full-time and Mary part-time. They have a household income of $150,000 and home loan of $500,000.They have many lifestyle and financial goals they wish to achieve but are unsure about the best way to plan for the future to maximise opportunities and reduce tax.
After going through the financial planning process with James, they received advice in many areas such as how to accelerate debt repayment, review of their household budget, meeting future planned expenses, setting retirement goals, starting to invest on a regular basis, reducing tax, consolidating and employing a consistent investment strategy for their investments, implementing appropriate insurances and implementing Wills and Powers of Attorney and Guardianship.
Stephen and Mary are now on track to accelerate the repayment of their home loan and have enough cash available to meet all planned expenses such as catholic schooling for their children, property renovations and an overseas holiday every year. Although they are only a few years into their financial plan, they are now on track to accumulate substantial assets and may be able to retire in their early 50’s.
“Without James’s advice we would probably still be treading water and not getting ahead financially but now we are excited about the future. We now have a structured plan that we understand and can follow so that we start to work towards getting to be where we want to be in the future. We have to thank James for all his help.”
Stephen and Mary (surname withheld)