THE INTRODUCTION

Jack and Andrea came to us in 2016 at the ages of just under and just over 60, wanting to know if they could do anything with their financial situation to allow them to retire in 3-4 years. They wanted to know how if they were going to have enough saved up to retire and if not then what could they do to increase their retirement funds.

OUR ADVICE

After a thorough review of their finances, incomes, superannuation and investments we told them to do the following:

  • Don’t sell their investment property until after they retire, which will save tens of thousands in tax.
  • Put more money into super each year from their wages, which will save thousands each year in tax and this savings will build up in their supers rather than be paid to the ATO.
  • By putting more into super form their wages this meant they were short of money to live each year while working, so we converted their supers into income streams/pensions, and this provided the extra income they needed. Still allowing them to save thousands on tax.
  • Cash in their term deposits once they mature and contribute this money into super. This meant that the money would be earning more, and this would be tax free. Compared to earning a small amount of interest in the names and then they had to pay tax on that income.
  • Stay in their superannuation funds, but change their investment options so that they were better positioned to get income and growth, but reduce the risk and impact if the investment markets fall leading up to retirement.
  • We also projected out their situation to assess how the recommended changes would provide enough growth and money to allow them to retire when they wanted and living of how much they wanted to in retirement. Which it did.
WHERE WE STARTED in 2016

They were paying over $34,000 per annum in tax before. They needed to spend $50,000 on renovations and travel.

They had assets of:

Super combined $399,000

Investment property $170,000

Cash in bank $286,000

Shares $8,500

TOTAL VALUE $863,500

NOW 3 YEARS LATER in 2019

Once they implemented our advice the tax they paid reduced by $17,500 per annum. They did their renos and travelled each year. And have just retired living of $53,000 per annum plus $12,000 per annum for travel.

They now have assets of:

Super combined $785,000

Investment property $180,000

Cash in bank $69,000

Shares $10,000

TOTAL VALUE $1,044,000

 

WHAT THEY HAVE TO SAY!

We are absolutely amazed at how much our financial wealth has grown in such a short period of time since we first received advice from Oasis Financial Planning. We wish we had sort financial advice many years earlier. The tax we have saved and how much our supers have grown has been fantastic. Over the last 3 years we have seen our retirement funds grow and turn into the amount that we were told we needed to have to retire and live off for a comfortable retirement with travel each year. We never knew if we could retire and on that amount. Oasis Financial Planning have made such a difference for us and by the end of this year we will both be retired, living well and travelling. Oh and we will still be able to get our home renos done that we have wanted for a few years now. Thanks very much guys.

 

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What our clients have to say

Steve Pollard is a highly professional and ethical financial planner, who practices what he preaches. He is on the few financial planners to have provided independent fee for service advice since he started in the industry. I trust Steve to provide quality advice to me, my friends and clients.

Andrew Wegener  Aquila
Andrew Wegener

Every time I see Steve present at a seminar, I realise it is so much more than financial information, which anyone can provide, and more about finding the right motivator. Steve definitely knows how to motivate in a friendly non confronting manner. I can see why his greatest successes are with clients that stay with him year on year.

Greg Davies  Davies Home Loans
Greg Davies

I have know Steve pollard personally now for a couple of years and meet with him once a week for breakfast. He is literally a breath of fresh air as I have always been wary of Finance Advisors in the past. Steve is now working with myself and my partner to help build a financial plan for the future and has really opened my eyes to the possibilities there are. I totally recommend that if you are looking at advice for your personal or business matters to book a time to Steve as you won't be disappointed.

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