John and Sara have both worked hard over the years to provide a comfortable lifestyle for their family. It’s their time now – the children have left home and their youngest child is recently married. They feel they only want to work at their current pace for a few more years before they wish to slow down a bit and work part time before, eventually retiring.
John is a member of a few sporting clubs which keep him active when he’s not travelling overseas for work. Sara loves to organise weekends away with family friends. They value their social time and look forward to more of it in retirement.
With the expense of an active social life, John and Sara know that before they can think about working part time, they need to pay off their mortgage and ensure the balances of their superannuation funds are healthy so that they can be confident they will have the retirement lifestyle they dream of.
John has his own self-managed super fund (SMSF) and sees a financial adviser. Sara has never taken much of an interest in her superannuation fund but with retirement on the horizon, she decides to attend the next review meeting with John and his adviser.
The financial adviser has established a sound insurance and investment strategy for John and provides a lot of advice to keep John’s SMSF compliant and well-managed. John and Sara discuss strategies for paying off their mortgage, which is now their number one priority. They also discuss other opportunities, including investments they could consider, to boost their savings and increase Sara’s superannuation fund before they ease in to retirement.
John’s financial adviser was able to have an open conversation with John and Sara and modify their financial plan to suit their current situation. Together they:
- Discussed strategies to pay off their mortgage sooner.
- Reviewed John’s SMSF and Sara’s superannuation fund to see they were on the right track.
- Assessed their entire wealth strategy and portfolio.
- Provided recommendations on suitable investment opportunities.
- Made an appointment in 6 months to conduct a follow up review.
With the financial advice they received, John and Sara felt confident they could focus on paying off their mortgage and use the next few years to boost their super savings. If you need some sound financial advice, give us a call.