How We Slashed Tim’s Tax Bill by $34,000
Tax is one area where we tend to quickly diagnose, and solve, structural issues that are costing our clients money.
‘Tim’ is one client who’s benefitted massively from letting us overhaul his finances.
Tim came to us with no plan whatsoever for building wealth and securing a comfortable financial future.
That changed very quickly once we started working with him.
In the space of a few months, Tim had a new investment property making money and building equity for him…
He’d diverted some of his cashflow to kill off lingering debt…
And his superannuation and insurance policies were now working for his goals, not the providers’.
Oh, and we saved him $34,345 in taxes in just the first year of his plan.
Plus, check out how Tim will nearly DOUBLE his retirement wealth…
We’ve Put Tim On a Clear, Confident Financial Trajectory
Tim now has clarity and confidence about growing and managing his wealth.
He’ll hit retirement with an annual income of nearly $70,000, little to no debt and the luxury of being able to go to bed each night without worrying for a second about his finances.
In his first 12 months with Cooee Wealth Partners, we estimate Tim will save $34,425 in tax.
After that, we’re targeting a $110,947 tax saving over the next 12 years up to retirement.
But it’s not just tax restructuring that’s helping Tim on his path to financial freedom.
We’re Going to Nearly DOUBLE Tim’s Retirement Pot
Our calculations and changes are on track to increase Tim’s super retirement wealth by over 95% to $1,845,603 over 12 years.
Our recommendations are estimated to result in the accumulation of wealth to provide $66,900 p.a. of retirement income if drawn at 4.00% p.a.
We’ve also set Tim up so that in the event of serious illness or injury, he’ll have appropriate insurance coverage available to him.
On top of that, we’ve helped Tim organize his property portfolio to give him a high amount of leverage compared to other investment assets, allowing him more flexibility when he moves into managing his accumulated wealth in retirement.
The biggest thing we’ve done for Tim, though, is give him clarity around wealth creation, planning for retirement and setting retirement income expectations.