A Financial Freedom Story - Jeff & Lyn

Jeff and Lyn, a professional couple in their mid-50s, had done well financially but still felt uneasy about their future. Despite their solid careers and good salaries, they couldn't shake the feeling that they weren't making the most of their money.

Their mortgage still wasn't fully paid off, and they weren't sure how to support their daughter with university costs. On top of that, the amount of tax they were paying each year felt frustratingly high.

They thought about retirement often, but they had no idea how much money they needed to retire comfortably. They worried they weren't putting enough into super and weren't sure if starting winding down from full-time work was an option the next five years, as they had hoped.    

Recognising the need for expert guidance, Jeff and Lyn decided to seek the advice from an experienced fiduciary advisor who could help them make informed decisions with their best interests at heart.  We worked closely with Jeff and Lyn to create a long-term retirement plan that gave them clarity and direction. Together, we set realistic savings goals that would allow them to pay off their mortgage while also increasing their super contributions.

Refinancing their mortgage was the first step, helping them make more efficient repayments. At the same time, we adjusted their super investments to improve their chances of reaching their retirement goals. They reduced their annual tax bill by increasing their contributions and claiming a tax deduction.   

With these changes in place, Jeff and Lyn saw immediate benefits. The tax savings helped cover some of their daughter's education costs, giving them peace of mind about her future.

For the first time, they had a clear, written plan for their financial future. They could see their progress and felt more in control. Not only were they saving on tax, but they were also on track to hit their retirement savings targets.

Best of all, they could retire debt-free and start scaling back from full-time work in about six years.    

With a clear vision of their retirement lifestyle, they now look forward to enjoying their hard-earned freedom, knowing they have a solid financial foundation. 

Disclaimer: This blog post is intended for general information purposes only and does not constitute financial advice. It’s essential to seek professional advice tailored to your specific circumstances. 

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