The Trustee for DRJB Family Trust ABN 37 914 488 689 trading as Baharian Wealth Management is an Authorised Representative Number 1238682 and Credit Representative Number 483843 of FYG Planners Pty Ltd AFSL/ACL No. 224543

The Go-Getter

A CASE STUDY

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The client.

Meet Jackie and James, a couple in their mid 40’s. Jackie has spent the last 15 years raising their children and has returned to work two days a week at the local primary school. James runs a successful consulting business, of which he is a director. Life moves fast.

The solution.

Through a series of discussions and collaborative “whiteboarding” sessions, we helped Jackie and James get really clear on what they wanted, when it was going to happen, and what it would cost - from everyday needs to big aspirations.

We reverse engineered the outcomes they were looking for and showed them exactly what they needed to do with their cash flow and investments to have the flexibility and freedom they sought for the future without compromising the now.

 

The problem.

With everything else going on in their lives, Jackie and James realised their financial affairs had fallen down the priority list. They used to spend quite a bit of time on their finances, however as time went by, as kids grew up and James’ business commitments became more demanding, they wanted to spend any free time they had with their family and friends.

Their family’s financial affairs were in good shape. They had built a solid foundation over the years, however their finances were no longer getting the attention they used to, and Jackie and James were worried that opportunities were being missed.

  1. They had excess cash flow and were unsure as to the best use of this surplus.

  2. Their investments, superannuation, loans, and bank accounts were not as streamlined as they would like – things were a little too messy when it came to tax time.

  3. James wanted to have the choice of retiring when he turned 55. Maybe not a full retirement but certainly taking a step back from the business to focus on other passions in his life. Jackie wanted the freedom to do more community work once the kids were a little older.

  4. They wanted to help their children gain basic financial literacy and knowledge. They also wanted to set their children up for the future with property.

  5. They wanted to make sure their hard work in their business was being maximised, protected, and translated into a successful financial household.

The result.

The implementation of a well thought through game plan.

  1. We helped restructure their entities by establishing a family trust, which helped protect their family’s assets as well as save on tax. We established a Self-Managed Superannuation Fund which not only saved fees, but also allowed Jackie and James to invest in opportunities they may not have had access to previously.

  2. We consolidated and streamlined their superannuation, investments, and loans which not only provided Jackie and James with greater oversight and control of their affairs, but also saved them over $15,000 a year in fees.

  3. We established a small investment account for their children who contribute pocket money and savings from work into the portfolio. We offer them investment options for review, which they research and provide an opinion on as to where their funds will be directed.

  4. We put in place a portfolio of personal insurance to ensure that if something happened either Jackie or James, that their family’s financial position is not compromised.

  5. We helped them restructure their loans, which not only saved them over $15,000 a year in interest, but also helped them clear equity to purchase a new property for the benefit of their children. In the short to medium term, it will be leased out generating $45,000 a year in rent.

Most importantly, they have taken back control of their finances, and we have saved them time – something that is so valuable to Jackie and James. They can focus their full attention on their family and their business knowing their household affairs are being managed in consultation and partnership with a professional and objective team.

ARE YOU A GO-GETTER?

Let us buy you a coffee and see how we might be able to give you back your time and put your finances back on the priority list

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