Case Study: Experienced Medical Professional approaches retirement | Hewison | 1
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Case Study: Experienced Medical Professional approaches retirement

Ray, a medical professional in the later stage of his career, with his wife Wendy appointed Hewison Private Wealth to develop a financial plan that provided sufficient income to meet their lifestyle in retirement and preserve enough capital to financially assist their children and grandchildren.  

Private Client Advisers from Hewsion Private Wealth met with Ray and Wendy to learn about the couple’s long and short-term goals and objectives. Ray had worked hard over the years to accumulate a significant asset base and he did not want to see it decline over time. In response, Hewison developed a financial plan that included investment across a diverse range of assets, such as Australian and international shares, property, fixed interest and cash. 

Being a high-income earner, Hewison worked alongside Ray’s accountant to ensure the strategy was tax-efficient. Part of this involved establishing a self-managed super fund (SMSF), which the couple’s asset base would be transferred to overtime. This strategy provides Ray and Wendy with tax-free income and withdrawals from the fund. 

To ensure the preservation of the asset base to financially assist children and grandchildren, the Hewison advice team directed a portion of Ray and Wendy’s investments to growth assets, a combination of shares and property. This was to enable assets to grow in value and offset the effects of inflation while providing a steady income stream to assist with day-to-day living and significant purchases.  

Hewison Private Wealth continues to manage the portfolio to ensure it is rebalanced depending on individual asset class performance, and Ray and Wendy’s Adviser takes advantage of investment opportunities as they present themselves. 

Sufficient diversification means that their investments are largely protected from sharp falls, and allows for the purchase of quality, blue-chip investments at a discounted price.  

As a result of Hewison Private Wealth’s financial strategy and ongoing advice, Ray and Wendy have realised the following benefits:  

  • The portfolio generates a tax-free income of $120,000 per annum to meet their lifestyle needs 
  • The real value of the portfolio is maintained against inflation through investment in Blue-chip shares and property 
  • During the Global Financial Crisis income generated by the assets remained largely unchanged, and Ray was still able to draw a regular income stream from their asset base, the same will be said for the current COVID-19 market downturn experience  
  • Continued advice on investment opportunities and when to rebalance the portfolio  

If you are seeking a future retirement like Ray and Wendy, we do the future thinking for you and with you. Connect with our experienced Private Client Advice team HERE.

 

 

 

 

 

 

 

 

 

 

Hewison Private Wealth is a Melbourne based independent financial planning firm. Our financial advisers are highly qualified wealth managers and specialise in self managed super funds (SMSF), financial planning, retirement planning advice and investment portfolio management. If you would like to speak to a financial adviser on how you can secure your financial future please contact us 03 8548 4800, email info@hewison.com.au or visit www.hewison.com.au

Please note: The advice provided above is general information only and individuals should seek specialised advice from a qualified financial advisor. The views in this blog are those of the individual and may not represent the general opinion of the firm. Please contact Hewison Private Wealth for more information.