Long term goal with some short term fun

Client: Phoebe

What were their challenges:

Phoebe is a time poor single Mum, that just knew she needed to do more with her money. She had some equity in her home, but little else when we first started working together. She was too busy at home to invest too much time in a personal wealth plan.

What did they overcome:

Initially we put in place a strong financial plan, capitalising on the equity in her home, accumulated savings and her ongoing savings capacity. We established a plan that would allow Pheobe to move out of her home and live in an area that was closer to friends, more affordable and consistent with the lifestyle she wanted for her daughter Georgia. This step allowed her to acquire another investment property and she will now be in a position to purchase her dream property by the sea in seven to ten years.

How did I help:

By giving initial financial advice, helping to implement it, stay on track, and tweak the plan as required. We were also there to support her decision making when she was close to buying an asset on the Sunshine Coast area, as she had fallen in love with the area, and ultimately coached her into acquiring an asset in the Eastern suburbs that had performed much more strongly in line with the financial plan.

We have meetings to adjust things and re-evaluate what’s important, we are her sounding board and ensure that at all times she has the confidence that she and Georgia know their future is secure.

What did they learn that I can share:

Over the last ten years Phoebe has invested consistently into shares and property, and has not sold. She continues to grow her net worth and provide herself with long term choices by regularly investing in her portfolio, steadily repaying her debts and can balance the long term with some short term fun.

It’s my job to work as my client’s financial ‘lifesaver’ to ensure that they swim between the flags and that they don’t get in over their heads.