CASE STUDY – Trevor & Julie – Already have property investments, now want property investment in superannuation

CASE STUDY – Trevor & Julie – Already have property investments, now want property investment in superannuation

Trevor & Julie – Already have property investments, now want property investment in superannuation

Trevor and Julie had built a property investment portfolio already. Trevor now had a well-paid job while Julie studied and stayed at home with their young children. Now was the time to put their super in their own control and in their favourite asset – Property.

 

 (There are 5 easy steps to planning anything – start where you are at, decide what lifestyle you want to have, what that lifestyle state or position will cost in money (to maintain the living costs) what you need invested to meet that cost of having what you want, and what action we need to take now to get there. Here is how it works with one of our clients.. )

(Get the Free Resource: 5 Easy Steps to Plan your Retirement).

  1. WHERE they were at – Julie and her husband wanted to know what was involved if they were to invest via super into property so they spoke to a handful of experts – real estate agents, investor firms, accountant and advisor. They also researched online to supplement this education. The key thing for them was strategy and support.
  1. WANT to have – The goal was to self-fund retirement, with enough to be comfortable, but keep administration minimal and simplify the process.
  2. COST of that lifestyle Estimated in today’s values, the annual income to retire they desired would be at least $100,000. That would be well over $62,000 (Dec 2019) the ASFA definition of “Comfortable”, where “comfortable” enables “…an older, healthy retiree to be involved in a broad range of leisure and recreational activities and to have a good standard of living through the purchase of such things as: household goods, private health insurance, a reasonable car, good clothes, a range of electronic equipment, and domestic and occasionally international holiday travel.”
  3. NEEDhow much you need invested to cover the income required – To be safe, if a conservative investment return of 5% is used, (one 20th of 100%) this means at least 20 times the income goal – which rounds to approx. $2,000,000 of income-producing assets other than the family home. They also needed administration assistance as it did not appeal to them!
  4. NOW what to do After researching and talking to several services, they met with Paul the Administration Manager at SuperBenefit who supplied a detailed list of what would be included in the service. Once the structure of the bank and investments was clearly mapped out to ensure all components involved were covered, it was a simple matter to start organising the collection of documents required and have the accounts processed.

What was liked best of all – that the SuperBenefit Programme made it easy – SuperBenefit manages compliance from the  annual documents, storage of records electronically and additionally, has a CONNECT-ASSIST service which provides co-ordination as well as help – with who to talk to for advice and any other help besides the financial advisor.

There was other value in our property investment specialists and private-client share broker, if required.

There is also peace of mind because any queries or compliance issues, could simply be given to the SuperBenefit administrator, who would CONNECT them to the right advisors as required (Connect/Assist Service)

The advisors had put these components in place –

  • Strategy – to take control of the retirement plan, and build their super
  • Structure – use an SMSF and the SuperBenefit Programme administration
  • Support – with resources and all compliance taken care of by SuperBenefit, as well as a team of specialist professionals that the SMSF Connect/Assist service provides, working with the client advisors in unison.

 

Note – This is a simplified summary of one client – it is not to be taken as advice, as your specific circumstances are not considered – we recommend asking for a consultation and/or seeking further professional advice with our recommended advisors or your own advisor.

 

Get the Free Resource: 5 Easy Steps to Plan your Retirement

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

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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