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March 8, 2021

Debt Elimination for Janet and Tim

Janet & Tim both turn 59 next year and are concerned that they are not prepared for retirement. They have some assets in superannuation, but they still have $150,000 to pay off their home mortgage and want to travel overseas.

They booked an appointment with Chris at Connolly Wealth Management to discuss their retirement planning options. We recommended that Janet & Tim commence a program to salary sacrifice so that they could continue to live on the same income but to divert more ‘before-tax dollars’ to their super fund. We maintained the underlying investments they held in their super funds, but we restructured how they are owned.

After seeing Chris, they feel more comfortable with their financial and retirement situation and have booked a trip to Italy and Greece for the following summer. They have peace of mind, knowing that their financial strategy has improved their situation. This boost to their wealth has enabled them to grow their super, to reduce their home loan and to know that they will have the means to travel when they wish to.

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