Case Studies

Plan For Retirement On Your Terms

*Jennie wanted to purchase a new home and was referred to Wealthpoint Financial by her accountant. Looking to retire in four years, Jennie assumed she would need to use her cash savings to buy the house and repay a small mortgage before retirement.

After our first consultation, we advised Jennie to implement a Transition to Retirement Strategy. This would include making additional superannuation contributions that would save her $50,000 in tax over four years.

This strategy would allow Jennie to buy the desired home, repay the mortgage before retirement and grow her superannuation balance to over $170,000. Jennie will be debt-free and earning a tax-free income that exceeds her current take-home pay.

We also demonstrated that Jennie had the financial freedom to retire completely without compromising her lifestyle. Although Jennie loves her job and has chosen to keep working, the decision to retire is hers to make.

Maintain Lifestyle & Save For Your Future 

*Couple Simon and *Karlie have very different views when it comes to money and how it should be spent. Simon holds a defence disability pension and is a self-proclaimed ‘spender’ while Karlie is the ‘saver’ and works part-time as an accounts payable clerk.

Following Simon’s acceptance of a FIFO role with an annual salary exceeding $150,000, their accountant referred the couple to Wealthpoint Financial. Karlie had substantial financial contributions at the start of the relationship. They now needed a plan to fairly split their assets and ongoing income in a way that would support them both.

Over the initial 6 months, we worked with the couple every 3 weeks to understand the financial contributions made by each individual. We then established a savings strategy for Simon that was fair and agreed to by both parties.

We also developed a financial plan for Simon that balanced savings with a spending account tailored to his needs. Two years into the plan and Simon has saved over $100,000. We’ve also demonstrated to Simon that he has the financial freedom to leave his job whenever he chooses and maintain a comfortable life.

Buying Property Through A Self-Managed Super Fund

Married couple *Bill and *Sandy were referred to us by their accountant to provide guidance on self-managed super funds (SMSF). Bill runs his own landscaping company from a leased property and was facing a substantial rent increase.

The couple wanted to explore buying a property for Bill’s business premises and sought advice on the financial viability of this decision.

Collaborating with their accountant and mortgage broker, Wealthpoint Financial advisors analysed the couple’s financial profile and determined that a SMSF could help to achieve this goal.

Our team guided the couple in setting up a SMSF and explained how to use a combination of existing superannuation, ongoing contributions, and a super-based borrowing arrangement to purchase a property.

Following this advice, Bill and Sandy have seen significant returns. They have saved over $20,000 in tax and reduced the loan repayment period from 30 years to 15 years. The property will now be fully paid off well before retirement.