You have secured the ‘right job’, you have plenty of disposable income and yes, life is great with good friends and plenty of fun! Nothing wrong with that of course, but, it’s also the perfect time to develop a simple and smart financial plan for your future and to protect you during the ‘rainy days’!
Incredibly, in a blink of an eye you will be in the next stage of your life where you wouldn’t want any regrets about where all your hard earned money went to. We are here to give an insight to saving without dramatically affecting your lifestyle!
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Our Client's Success Story
Our client, Glen (in his early 30’s) is self employed and currently earns an above average income. Due to the nature of his business his future earning capacity has strong potential. With this outlook, Glen is very ambitious in respect of his wealth creation as his ultimate objective is to retire ‘early’.
Glen had started on his asset accumulation path prior to approaching Initiative. However on reaching a certain point he was unable to proceed further without assistance and direction.
Part of the restriction with Glen’s self created approach was caused by his inability to borrow additional funds to continue to invest in the property market. This was mainly due to not having enough equity in his existing properties to use as security against future property purchases. Initiative proposed various strategies to create additional equity in his existing property portfolio. Once the equity consolidation was undertaken, Initiative recommended Glen consider debt recycling and instalment gearing. This would allow Glen to add to his investment portfolio and provide additional diversification in his investments.
As part of the overall strategy, Initiative also reviewed Glen’s insurance policies. Our recommended policy provided greater cover than Glen’s existing policy at a lower cost. Consideration was also given to funding the insurance within superannuation to provide flexibility and affordability.
Overall, Glen had a clear objective for this financial future, however he didn’t have a plan to make it by himself. With Initiative's strategies, Glen is set to achieve his financial success and ultimately his financial freedom to retire early.
Initiative will ensure Glen continues his journey to early retirement by providing guidance and monitoring through each step.