They arranged an obligation free appointment with their Endorphin Wealth Advisor to discuss their questions.
Their advisor was able to educate them into the benefits of investing their surplus money using a regular savings plan and was able to forecast several scenarios for them including different amounts and also using a tax effective gearing strategy.
The advisor was also able to calculate the appropriate level of personal insurance the couple should have to insure their family in the event that something going wrong. It turned out the default insurance cover they had as part of their industry Super Fund really wasn’t enough for their actual family circumstances.
Finally, the advisor was able to review their current Superannuation fund and investments held within the fund. It was apparent that the fund was underperforming over the last few years and Ben mentioned that he wished he had greater control over the specific investments. The advisor was able to run comparisons on the fees and previous returns of many funds that would enable the couple to gain more control over their Superannuation investments and align the investments to be more suited to their needs.
Ben and Claire are now well on their way to their savings goals for their children’s education and much more relaxed knowing that their family’s finances are protected. Their Superannuation has been rolled over to a fund that gives them more control over their investments and their advisor pays close attention to the investments they are holding.
For more information on Tax Effective Investment strategies, click here.