Retirement planning

Case study: Retirement planning Transiting to retirement George and Deirdre were 68 and 63 respectively when they approached StrategyOne Advice Network to ensure their transition to retirement would be as smooth as possible. Neither were working full-time but maintained part-time directorships. They had a self-managed super fund as well as other investments. Paying less tax, maximising super, managing cash flow Like many semi-retirees, George and Deirdre were having trouble managing their … [Read more...]

Inheriting or acquiring new wealth

Case study: Inheriting or acquiring new wealth Growing wealth People come into new wealth typically through inheritance or divorce. It is not uncommon for people inheriting or acquiring new wealth to spend it rapidly and end up no better off than when they started. Consulting a financial planner when coming into new wealth is an astute move to ensure you can leverage your wealth to grow your investments. Investing wisely after divorce Marianne was referred to us by her ex-husband John. John … [Read more...]

Ageing or sick relatives

Case study: Looking after ageing or sick relatives Taking care of ageing or sick relatives can place significant financial strain on the family who assume responsibility for managing their affairs. It is common for family to pay parents’ medical expenses by extending their own mortgage or taking out loans at a time in their lives when they are retired, semi-retired, or looking to retire. Often, all the familial wealth is tied up in the family home with limited funds to draw on. Managing the … [Read more...]

Sound Estate Planning and Business Succession

Case study: Sound Estate Planning and Business Succession Jeff and Peter had a 20-year-old business that had grown organically and was now worth several million dollars but when they first came to see us a decade ago, they had a very brief business plan without a legally binding agreement between the partners. Investing for your future Although Jeff and Peter were looking to work in their business for at least another 10-15 years, we advised them that a comprehensive succession plan was a … [Read more...]

Losing a partner

Case study: Losing a partner Watching a loved one lose their capacities to dementia is difficult enough without the stress of getting their financials in order. With 1600 new cases of dementia diagnosed each week in Australia, many people find themselves in difficulty as their spouse becomes increasingly unable to manage their own affairs. Understanding your financial position Margaret was one such client of StrategyOne Advice Network who recently lost her husband of 48 years after a long … [Read more...]

Changing jobs or career focus

Case Study: Changing jobs or career focus Laura and Trent came to visit us when Laura was considering a new career move. The couple had two small children and Laura was the primary breadwinner while Trent worked from home as a freelancer. Laura works in advertising but was hoping to move into editing and proof-reading. She was having trouble finding full-time work in editing and thought she would start freelancing to build an editing portfolio, make some contacts in the industry and, … [Read more...]

Becoming a Parent

Case study: Becoming a parent Becoming a parent brings many financial challenges, including managing household expenses on a reduced income. Expect additional medical, dental, clothing and, of course, school fees and there is still superannuation to build and manage and assets to protect. Managing cash flow on one income Jess and Gareth sought our advice just before the birth of their first child. They had been together for eight years and had joint assets including a house, a car and an … [Read more...]

Buying your first home

Case study: Buying your first home Sarah and Ben were on the cusp of turning 30 when they found a house they were keen to buy. It was late December 2011 and they were eligible for more than $8000 worth of government exemptions which were to be cut off at year’s end. They received pre-approval from a bank and exchanged contracts, negotiating for a five-day period to organise finance, which they assumed would be sufficient. However, the bank had only granted conditional eligibility based on a … [Read more...]

Getting your First Job

Case study: Securing your first job and career planning Jeremy came to see us upon finishing university and landing his first full-time job in law. He had questions regarding how best to set up his finances to save for buying his first home, paying off his car loan and his Higher Education Contribution Scheme (HECS) debt while minimising tax and ensuring he was with the best super fund. Repaying your student loan Jeremy wanted to know whether it was financially favourable to pay off his HECS … [Read more...]

Merging Finances

Case study: Merging finances Merging finances after moving in together or getting married is a big step. This is a perfect time to see a financial planner to talk about issues including mortgages and refinancing, superannuation, and protecting assets. Joanna and Chris contacted us to talk about how to manage their individual assets after deciding it was time that Chris moved into Joanna’s house. Protecting your assets with co-habitation agreements and pre-nuptial agreements Chris had a young … [Read more...]