Daniel

Age Group 50-60 Years Old

Financial Goals:

  • Retire on 60th Birthday
  • Maximise Superannuation balance
  • Have a retirement income of $60,000 Per Annum
  • Travel around Australia in retirement

Daniel is 55 years old and is employed as a Pharmacist. Daniel owns his own house and has a large savings balance and wants to retire on his 60th birthday.

What CMW did to help Daniel achieve his goals:

  • Saved client $2,145 Per Annum in super fees
  • Advised Daniel on a Transition to Retirement strategy which will allow him to grow his retirement balance through a tax effective superannuation pension. Added benefit of $58,000 at retirement!
  • Increased superannuation balance before retirement by making a non-concessional contribution of $150,000 from Daniel’s savings account into his super, which will provide a tax free income in retirement.
  • Optimised superannuation investment portfolio to match Daniels required investment return. This is reviewed and rebalanced regularly.
  • Purchased a caravan and car upgrade to travel around Australia with monies in savings account.
  • Remainder of savings balance to be placed in a high interest savings account for 'rainy day' situation.
  • The recommended Superannuation fund can be easily transferred to a Retirement Pension at any time during retirement which will provide Daniel with a tax free income of the $5,000 Per Month that he requires.
  • Have Daniel begin salary sacrifice concessional contributions up to his maximum concessional allowable limit - to also increase super balance

 

What we can help you achieve

  • Tax optimisation – reduce your tax bills!
  • Mortgage and debt elimination – pay your mortgage off faster!
  • Performance review of your current superannuation
  • Finding the best insurance cover & protection at the lowest price to suit you
  • Your risk profile – We find the best investment solutions to suit you
  • Helping you achieve your current life style & retirement objectives, in a comfortable manner