CASE STUDY – Ivan and Maria – wanted to learn about investment, but with advice for assurance

CASE STUDY – Ivan and Maria – wanted to learn about investment, but with advice for assurance

Ivan and Maria – wanted to learn about investment, but with advice for assurance

WHERE they were at  Ivan and Maria had worked hard and supported their family comfortably but not extravagantly. Their son did have problems with possible mental illness, as he found it hard to keep jobs and settle with people and jobs. His daughter’s marriage had ended due to an inconsiderate husband. Ivan’s wife, as time passed, was succumbing more and more to depression, and becoming reclusive. She did not enjoy going out any more, and medication was not having any effect.

Ivan wanted to understand investment and how a good return could be obtained, rather than just let a super company do it all.

What they WANTED to have  They had paid their house off, and with Maria’s illness, travel was out of the question. It would be best to support his wife and make life at home as comfortable as he could, as well as support his son and daughter financially and emotionally when possible, although this made things very tight. Ivan also wanted to maintain the up-keep of the house while he was still capable, which he had managed very well over the years. Ivan also wanted to be able to understand super and investment better, and an SMSF made sense to him for control and flexibility.

What it would COST  We sat together with the advisor and calculated that Ivan & Maria could draw some of their super (a total of around $180,000 combined) as an income stream / pension, and were also entitled to a portion of Centrelink payments. Ivan said $1200 a month from the super would be good, and when the approximate Centrelink amount was calculated by the advisor, Ivan said he believed it would be manageable for him to live on that budget OK. They now owned their home and their car was in good order and not too old.

What they would NEED  To live within what was available from the SMSF pension (income stream), and apply to Centrelink – there may even be a Disability Pension for Maria.

What to do NOW  Ian & Jillian spoke to their advisor. They found there were options and a Government Pension was possible, so there was no need to panic about low super. Ivan liked the opportunity that he would be able to watch, learn and make decisions about what companies their super was invested in. He liked that the SuperBenefit Programme recommended broker supplied a list twice a year of companies with strong financial health that are likely to perform well.

We were instructed by the planner to set up the SMSF and applied to the super funds to roll-over to the new SMSF bank account. Then they spoke to the stock broker about the list he had created for SuperBenefit clients, of healthy Aust companies based on the 12 financial health criteria. Since 2010 they have made returns ranging from 3-18% average.

They also had peace because any queries or compliance issues, could simply be directed to the administrator, who would  CONNECT them to the right advisors as required (SMSF Connector Service).

They now had the components in place –

Strategy to take control of the retirement plan, and

Structure an SMSF using SuperBenefit administration, alongside part-time work and later Government pension

Support with resources and all compliance taken care of by SuperBenefit, as well as a team of specialist professionals that the SMSF Connector service provides

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

Got questions? If you want experts who have years of helping others, without the hype – then call for a FREE strategy session today and also get your FREE Expert Guide  Self-Managed Super and You  top right hand side above.

If you have any questions, why not give us a call – it’s FREE also!

No obligation. 0407 361 596, Paul.


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!
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