CASE STUDY – Dorothy was concerned that their small super amount would not last


CASE STUDY – Dorothy was concerned that their small super amount would not last

Dorothy was concerned that their small super amount would not last

WHERE they were at – Dorothy and William had worked hard at their jobs. They relied predominantly on the pension, but wanted to avoid eating into the small amount of super Dorothy had only managed to accumulate when super became compulsory late in their working careers. William had not been able to get super in his labouring work – it came in after he retired. Dorothy was 72 when she called us. Jim had assisted with personal insurance for many years, and also been advisor to her and her husband.

What they WANTED to have – They wanted to do more with the small super that was there – but with conservative growth and some earnings to avoid drawing on capital if possible. They wanted to help their children with their growing families, rather than aim just to leave a sum at their death – enjoying helping was more important than hoarding.

What it will COST Dorothy and William already received the full pension. They calculated they needed $9,000 per annum to supplement the pension to live on, and help their family as they could.

What they would NEED – To have access to a pension to draw down the super they had.

What to do NOW To roll out from the large corporate super fund and into a self-managed super fund. She wanted more “close to home” and friendlier people to help her with decisions. Especially with people they had trusted for years.

Now the components were in place –

Strategy – Was to take more control and be more directly accessible to their super without the “Big” institution feeling, but a boutique “local” firm who could work as her team as she needed.

Structure – After careful study and advice, a self-managed super fund (SMSF) ticked many boxes for them.

Support They appreciated how we would support their needs with an advisor she had known for many years. They also liked that all the compliance would be handled and they didn’t need to concern themselves. They thought it was great to be able to learn about investment with the education SuperBenefit provided, but they really didn’t want to understand the detail and were happy to receive broker advice and recommendation after seeing the rigorous process Jim and the broker undertook to find healthy growth companies, all the while avoiding speculation or too much risk – and that a specific low risk selection would be tailored by the broker for her situation.

Note – This is a simplified summary of one client – we recommend asking for a FREE consultation and/or seeking further professional advice.

Interested to know what self-managed super (SMSF) is all about, how to get setup FREE and if it is for you? Come to a FREE seminar with bonuses every month – Self Managed Super Fund Roadmap (all you need to know) for the next monthly event, see 1 SMSF – FREE Seminars or call us 0407 361 596


About SuperBenefitnews

Self-Managed Superannuation Service Providers in Australia. SuperBenefit provides a wholistic SMSF assistance, education and administration service continuum - 1. “assistance” is help of whatsoever nature where our overall SMSF experience and knowledge enables us to provide assistance/help without any legal (or “license”) limitations. 2. “education” involves providing knowledge through teaching, coaching and mentoring about all matters SMSF, including (but not limited to) investment issues such as equities and property, 3. “administration” encompasses all admin aspects of legally required SMSF trustee and member record keeping including (but not limited to) audit and ATO matters. In keeping with our key point that SuperBenefit does not provide Financial Advice, where issues arise from 1, 2, and/or 3 above Indicate a need for a legally authorized provider (such as a Financial Adviser) and the client does not have their own service provider, the client can utilize SuperBenefit’s ‘Connect Assist’ … SuperBenefit, in itself, does not provide Financial Advice, but it does provide the wherewithal for great SMSF service. WE do not provide Financial Advice or any other service that requires a legally authorized provider. However, where such advice or service is required we have our ‘Connect Assist’, a SuperBenefit resource we use to connect clients to a Licensed Advisor or other legally authorised service provider. Call us 0407 361 596, no obligation FREE Connection call to see how we can help you!
This entry was posted in Case Studies of Clients, Superannuation General and tagged , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s