Helping families secure their retirement always makes me happy. It’s about giving clients peace of mind, while using the right strategies to maximise outcomes and to minimise tax implications.
Recently one family sold a large family home, finding themselves with around $1M of surplus funds to help fund their retirement. Because of their circumstances, we could take advantage of strategies that should see them paying no tax (after this financial year) for the rest of their lives. The strategies also accommodate their specific estate planning needs and will reduce the cost of probate in the future. Talk about winning!
Of course the clients have had investments recommended to support the strategy used, it’s a part of what we do.
The key to the clients getting tax free income & potential for capital growth is actually in the strategy and the tax structures used not the investments recommended.
The clients are happy at the prospect of never paying tax again, who wouldn’t be? Yet they’re also wondering if they could have stopped paying tax sooner if they’d used a financial planner earlier.
Strategy and tax structures, they’re some of my favourite financial planning tools!