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Creating Life Assets

Welcome to Creating Life’s Assets. Now you have a family, a home and a great job earning a good income. Where to from here.

Case Study

How Life Assets worked with Curtis and Nicole to gain financial control.

A number of meetings with Curtis and Nicole enabled us to better understand their circumstances. We were able to restructure their home loan debt (bad debt) and establish an investment debt facility (good debt). They provided us with a budget of their expected lifestyle needs which gave us a platform to track and measure their actual expenditure. With a financial structure now built around their day to day lifestyle needs their cash flow is positive and we have commenced a regular savings plan to fund holidays to see family in Victoria and a trip to Disneyland in a few years. With regular monthly contact they feel positive that they are gradually getting in front knowing we are only a phone call away.

Building a relationship with Curtis and Nicole gave them the confidence and trust in us to agree to recommendations that, previously, they would not have considered. We implemented an investment plan that now produces enough additional income that has substantially reduced their bad debt. They both have a much better understanding of their investments and can see the value of a long term approach to creating wealth.

We established Life, Total Permanent Disability and Trauma insurance policies, to ensure if one of them became incapacitated or die, the family would not have to worry about the mortgage or funding the children’s education. We arranged for the Life Insurance premiums to be paid by their super fund so their cash flow was not greatly affected.

We spoke with Curtis’s employer, who agreed to salary package a new car, which meant Nicole was able to drive the kids all over the country side with their activities in a 5 star ANCAP safety rated vehicle.

We discovered $5,000 in a missing super fund Curtis had long forgotten. We consolidated each of their superannuation funds into a personal super account which stays with them regardless of changing employers.

In addition, through restructuring their situation, Curtis and Nicole received a tax refund for the first time in a long while.

We arranged a meeting with an Estate Planning professional to establish Wills and Powers of Attorney (On the list to get done one day). There is now some certainty around the children receiving a quality education from estate assets with sufficient funding for a deposit on their first home should anything happen to Mum and Dad.

Curtis and Nicole are now more relaxed about their financial security. The changes to their spending habits have given them more control over financial decisions. They understand that the strategies put in place are well managed. They have protected the valuable wealth they expect to create with adequate insurance funding. They will be able to send their children to a school of their choice and Nicole maybe able to retire early.

Disclaimer: The information contained in this article is of a general nature only. It does not take into account your particular objectives, financial situation or needs. Before making an investment decision, you need to consider, with or without the assistance of a financial adviser, whether the information is appropriate for your particular needs, objectives and financial circumstances.