John & Helen

60+ Years old

Financial Goals:

  • Review Retirement Pension
  • Review investment allocation
  • Review government aged pension allowance
  • Continue to travel

John & Helen have been retired for 9 years after selling a successful Petrol Station in Victoria. They have a term deposit of $135,000 and also have $35,000 in savings account as well as holding a range of other assets. They have a Retirement pension which they draw $2,000 per month from as income, and also receive income from the government in the form of an Aged Pension.

What CMW did to help John & Helen achieve their retirement goals:

  • Review Retirement Pension and saved client $1,450.20 Per Annum in fees or 35%.
  • Re-structured investment portfolio to a more conservative approach which better suited the client’s tolerance to investment risk.
  • Helen really likes the idea of using Term Deposits as an investment so we explained the positives and negatives of this approach and were able to invest 20% of her retirement pension in a high interest Term Deposit.
  • The CMW Financial Planner advised the clients that they had a large savings balance due to them drawing excess funds from their Allocated pension (AP). He advised they should halve the amount they were drawing from the AP to $1000 p/m which will help make the Pension last a lot longer in retirement. This strategy will save the clients an additional $12,000 p/a coming from their AP balance and therefore leaving them more money to be invested for long term steady growth.
  • If clients needed any extra money for bills or travel they could use the money they have in their savings account and the money in their Term Deposit could remain there for use in an emergency situation. Clients can always increase the pension payments in the future if they are struggling to keep within the new budget.
  • We conducted a full review of their government pensions.
  • At first there was no change in government aged pension payments but after 6 months, the savings were reduced slightly as they had been using this money to pay for overseas travel and living expenses. This in turn increased the government aged pension payments by $22.50 per fortnight
  • 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