Everybody's financial situation is unique to them. At first glance, coming into wealth feels like a windfall. But then, realities can emerge, such as how do I actually do this, and how do I know what I am doing? Fear can lead to paralysis, lost opportunities, and your investments becoming small in real terms.
The way out of these feelings is to work closely with your financial adviser and for them to provide good advice. We share with you, case studies of people we have recently worked with, and their experiences.
Case Studies
COMING INTO WEALTH
Steve was referred to Earnslaw Goodlight after he had recently received just over $1m in inheritance.
At age 52, Steve realised that he could retire early. But he also recognised that he felt uncomfortable managing his funds.
He was fearful that he might invest with the wrong crowd, not keep up with inflation or that he might miss opportunities.
We worked with Steve, to understand his risk profile, and presented several options that provide the income that Steve is looking for and keep up with inflation.
We also discussed the safety provided by our Trust account framework.
After some minor changes, Steve has invested with Earnslaw Goodlight.
Over 10 years, Rob and Flo had built up a portfolio of 5 residential investment properties. The investment properties were important to Rob as ultimately it would mean Rob could "get off the tools" from his manual job and retire early.
However, recently they had become fatigued by increasing regulations against landlords. And at the same time, they recognised the tightening in the supply of credit and felt that rises in the value of their investments had come to an end.
After a bad tenant experience, enough was enough.
We worked with Rob and Flo and showed that through the sale of 1 or 2 properties and the investment of the proceeds, they could easily meet their early retirement target, and reduce the stress from the property management.
The outcome? For the meantime, Rob and Flo have continued with their properties, but do so knowing they are on track and feeling in control for their planned early retirement.
In their 40’s and happy in their jobs, Dave and Sarah had invested a small amount of funds with a fund manager.
Dave and Sarah wanted to know if the funds they had and their management would provide the retirement figure they were targeting.
We undertook some research, working out what the amount of funds would need to be in the future including adjustments for inflation. Importantly, we worked out that if they stayed with their fund manager, that they would get an okay return.
Then, because our independence, we were able to demonstrate what outcomes might be available through working with top performing fund managers. It meant were were able to access higher returns while keeping the same risk profile.
The outcome? With Earnslaw Goodlights expertise, Dave and Sarah will now easily exceed the financial target they are seeking. And, they have spare funds for a few other adventures as well.