Investment check up

Client: Allan and Anne

What were their challenges:

Going down to one income for a young family as your partner starts their own business can be tough. It makes cashflow tight and you feel you never have money to save at the end of each month.

They thought they had things sorted. Lucky to be receiving shares through employer share plan. Their home loan had high interest rate and was no longer suitable for their changed circumstances. To top it off they had insurances but they hadn’t been reviewed for years and premiums were growing rapidly.

What did they overcome:

We started with cashflow, with bills to be managed upfront & provisioned for accordingly. With Anne’s business now separated from the family cashflow, household tensions reduced.

Cashflow started to increase due to the lower insurance premiums and reduced loan repayments, allowing for a regular savings plan. They were able to renovate the back garden and can now plan for family holiday in next 12 months that they hadn’t been able to afford before advice.

How did I help:

Refinancing their home loan not only lowered their interest repayments but created a nice cash buffer for emergencies as well as smoothing out the cashflow. We reviewed their insurances which resulted in lowering their premiums, removing existing loadings while also obtaining more relevant cover.

With our investment management in place to manage their share plan as well as starting to diversify their growing wealth. A review of their super meant their super fund fees reduced and additional contribution strategies in place for Anne’s super which was not a previous consideration with being self employed.

What did they learn that I can share:

Outsourcing financial management reduced strain on their relationship and now they are both clear on what is important to them individually as well as a family. Anne personally now has a better understanding of finances through attending our meetings and taking part of our education facilities.

I’m the project manager for my client’s finances. I make sure every area is being worked on and bring in support & experts as required.