CASE STUDY: Family Years

CASE STUDY: Family Years

Jack & Sara were a young professional couple in their late 30’s with 2 young children. After an extended period of working overseas, they decided to move back to Australia to raise their children. They purchased a family home in an established suburb. They planned to renovate within 5 years of seeing us and maybe having a third child. Another family goal was for their children to have a good education and to live in a cosy family home. Worried about their children, they wanted peace of mind that their family goals would be achieved even in an unfortunate circumstance. They were also working towards a comfortable early retirement and wanted to make the best use of all their available resources. After getting to know them, we needed to refine their goals. How much will the renovations cost? What are the building plans? What is a ‘good education’, does this mean a private school and do you have a one in mind? Will this be for primary school and high school? Do you want to help with funding University as well? When having a third child, how long will you be reduced to one income? Will you be returning to work full time or part-time? Will they have enough money at the right times to fund their goals? We started by putting family protection in place for them to ensure in the event of illness or death, the family home could be fully renovated and/or paid out. We also wanted to make sure there were enough funds available to invest so the surviving parent was able to have the option to work or not – depending on the children’s needs. Financial modelling was used to demonstrate if all the above could be achieved in the time frame required. It was also used to indicate what their financial picture would look like in the longer term – whether their short/medium-term plans would impact their longer-term early retirement goal. Education funds were established for each child with regular savings plans, along with setting timeframes for accelerated debt repayment. Spouse contributions, non-concessional contributions and government co-contributions were also recommended at certain times. We continue to work together to achieve their stated goals and to ensure all opportunities are optimised along the way.

Testimonials

Alison
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Have been using Life Financial for 3 years now and Marijana has repeated provided us with the best possible strategies for our changing situations. We believe that the LFP team consider our financial security just as important as their other clients. Marijana, Mei and Donna have been very kind, easy to talk to and responsive to my calls and emails. We definitely recommend LFP without hesitation.
Lee-Anne
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We have been seeing LFP for about 10 years now! We are so appreciative of their service and reminders to look after our financial future. It is a relief to leave our superannuation investments and insurances in their very capable hands. Would recommend them to anyone who does not already have a financial advisor.
Miss Vae
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We have been clients of Marijana and team for a few years now and they have been nothing but professional, caring and informative. Marijana is always happy to answer all of our questions and kept the process worry-free for us. We always look forward to seeing the team every year for our review. Thank you for everything you do for us 😊
Alastair
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We always receive Marijana and Mei’s full care and attention when needed, and cannot recommend them highly enough!
Jude
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We are so incredibly grateful for the personal but very professional advice given by Marijana and Mei. After a lifetime of medical bills, transition to retirement was looking grim, but after meeting with the team at Life Financial Planners a few years ago, they really listened to our personal circumstances and we now have a clear, positive path.
Neil
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We have been clients of Marijana and the team since 2006. During this time I have retired from working - a daunting time for most of us. The transition to retirement was quite smooth, thanks to the very professional advice we received. We have no hesitation in recommending Life Financial Planners to anyone seeking assistance with their financial planning needs.
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