John; age 70 and Bea; age 67, are planning on retiring next year. They’re ready to enjoy more of what life has to offer. They own a large home that they have lived in for over 45 years. They have had 2 children together and also have 4 grandchildren that all live at least 30 minutes away from their current home. John & Bea have decided they want to move into a new home to an area closer to their grandchildren.
They found their perfect home but also learned with the downsize they may lose their eligibility to the Aged Pension. Bea has always been pretty savvy with money so they haven’t considered seeing a financial adviser before. With the new changes to their life, they decided to book an appointment with Chris at Connolly Wealth Management. Chris provided advice on how John and Bea can reduce their tax, maximise any Age Pension eligibility, and reduce the tax her children will pay on any inheritance. Chris also showed them some retirement income projections, which indicate that John and Bea can sell the family home in order to fund their retirement and be closer to their family. John and Bea are relieved that they will be able to downsize their home and have their grandchildren around the corner.
Getting advice has made John & Bea feel much more relaxed about retiring. They’re also pleased they now have an adviser who understands their situation and can help them make financial decisions in the future.
They are now in the process of planning an overseas trip with Connolly Wealth Management there to support them.