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John & Sally Retire Together

John & Sally Retire Together

Background

We met John and Sally when they were 65 and 57 years old respectively. They were empty-nesters with a small mortgage and planning on retiring in a couple of months. To celebrate their retirement they wanted to undertake some well overdue home renovations and finally payoff their mortgage and be debt free. It was important to John and Sally to have an indexed income of $40,000pa throughout their retirement.

Services Provided

In consultation with John and Sally a strategy was developed with our Pension Advisors to meet both their immediate and long term goals. Using computer modelling, frank discussions and risk profiling we were able to advise an investment strategy which suited their needs perfectly.

We also provided estate planning guidance to ensure that upon either or both their deaths, their estate would go where they wanted.

Outcomes

Enough funds were put aside to pay off the mortgage, pay for home renovations, emergencies, an Account Based Pension and even a Centrelink friendly investment (Annuity) . They were then able to put the balance of the funds away into Sally’s superannuation. This enabled John to claim the full Centrelink Age Pension and draw the minimum required amount from his pension to meet their stated income requirements.

The strategy will help them to meet their long term goals for an indexed income in retirement without depleting their Account Based Pension. This will provide security, knowing that they will be able to live comfortably throughout their retirements and also leave a nest-egg for their children.

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