The situation
John, 66 and Jenny, 60 were struggling to enjoy their retirement from the money they had saved in their super funds. They had hoped that John would get the age pension with Centrelink, however he didn't qualify due to his assets.
How we helped
We helped them restructure their retirement savings (through a ‘sheltering’ strategy) so that John could qualify for the full age pension.
At the same time, they were able to invest their retirement savings through lower-cost funds, saving them ongoing fees.
We also converted his super fund into a tax-free income stream.
We provided them with financial modelling of their inflows and outflows for the rest of their lives. That way, they can rest assured knowing their retirement savings are working as efficiently as possible for them and will not run out before they expect.
The results
John and Jenny are really happy and stress-free now that John receives the full Centrelink age pension combined with the money from his retirement income stream. They now have the freedom to travel and enjoy this chapter in their lives together.