In today’s episode, Glen and Martin unpack a real case study of a couple who recently sold their business, were ready to retire and sought financial advice. They had wealth tied up inside their company, money in super and some big decisions to make about how to create a reliable retirement income. They cover:

👉🏾 background of the couple and the business they sold

👉🏿 why business sale proceeds often remain inside the company

👉🏻 reviewing structure: company vs trust ownership

👉 the strategies implemented

👉🏼 setting up account-based pensions to create tax-free income

👉🏽 balancing investment risk inside super vs inside the company

👉🏾 setting up a wrap account and drawing dividends from the company

👉🏿 planning concessional super contributions

👉🏻 two ways to take money out from your company

👉 planning non-concessional super contributions

👉🏼 coordinating advice between accountant + financial adviser

👉🏽 long-term strategy: running down company funds over time

👉🏿 the advice outcomes

👉🏾 why you may not want to close the company immediately

👉🏻 Martin's cost for the advice (once-off and ongoing breakdown)

Watch this episode on Youtube: https://youtube.com/playlist?list=PLQW_VRWNC0jR1KQDXi5pcXwREjc0pde9L&si=zIMg1Vow9SOhug_Z

If you’d like to chat with someone about your personal situation, reach out to our team so we can connect you with a professional: https://www.retireright.com.au/get-help

Sign up to the Retire Right newsletter here: https://email.retireright.com.au/

🏡 Join the Retire Right facebook group: https://www.facebook.com/groups/retireright

To get help, and to check out our online courses, books, resources and downloads (+ our disclaimers and warnings), click here.

Any advice is general financial advice only which does not take into account your objectives, financial situation or needs. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you do choose to buy a financial product read the product disclosure statement (PDS) and target market determination (TMD) and obtain appropriate financial advice tailored to your needs. Symo Interactive Pty Ltd trading as Retire Right Australia & Glen James are authorised representatives of MoneySherpa Pty Ltd which holds financial services licence 451289.Martin McGrath, Financial Edge Group and their employed financial advisers are authorised representatives of Synchron Advice AFSL 243313.

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Glen and Martin break down a real retirement case study that started with a familiar line: “we don’t need an adviser, our affairs are simple!”. Upon changing their minds, the couple discovered thousands in tax savings, better investment structures and a bigger age pension.

👉 why some people think they don’t need financial advice

👉🏼 Charlie & Diane’s situation: 66 and 64, planning retirement soon

👉🏽 the advice strategies implemented

👉🏾 the advice outcomes ($8.5k net tax savings + $20k extra age pension)

👉🏿 projections of their assets & income over time

👉🏻 how much the advice cost and why it paid for itself

Watch this episode on Youtube: https://youtu.be/wXvu0-k6_qA

If you’d like to chat with someone about your personal situation, reach out to our team so we can connect you with a professional: https://www.retireright.com.au/get-help

Sign up to the Retire Right newsletter here: https://email.retireright.com.au/

🏡 Join the Retire Right facebook group: https://www.facebook.com/groups/retireright

To get help, and to check out our online courses, books, resources and downloads (+ our disclaimers and warnings), click here.

Any advice is general financial advice only which does not take into account your objectives, financial situation or needs. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you do choose to buy a financial product read the product disclosure statement (PDS) and target market determination (TMD) and obtain appropriate financial advice tailored to your needs. Symo Interactive Pty Ltd trading as Retire Right Australia & Glen James are authorised representatives of MoneySherpa Pty Ltd which holds financial services licence 451289.Martin McGrath, Financial Edge Group and their employed financial advisers are authorised representatives of Synchron Advice AFSL 243313.

Hosted on Acast. See acast.com/privacy for more information.

Former 7-Eleven and Blockbuster CEO Jim Keyes joins Glen live from SXSW to share stories from leading two of the world’s most recognisable companies, the lessons that came from collapse, and his “three C’s” for success - change, confidence and clarity.

👉🏾 what retirement means to Jim & why he thinks it’s outdated

👉🏿 the idea of education is freedom and learning as compounding interest

👉🏻 leaving 7-Eleven, identity crisis & going to art school in Florence

👉 why he took on the CEO role at Blockbuster

👉🏼 myths about Blockbuster vs Netflix and what really caused the collapse

👉🏽 Buffett’s advice that helped Jim re-frame failure as part of the game

👉🏾 the meta skills (three C’s) that have fuelled Jim's success

👉🏿 how fear limits potential and how to re-train your brain to embrace risk

👉🏻 Jim shares his thoughts on writing Education Is Freedom

Sorry for the sound quality after 36 minutes, the audio interface crashed :(

Grab Jim’s book, Education Is Freedom: https://amzn.to/3JkwTaf

Connect with Jim on Instagram: https://www.instagram.com/jkeyesauthor/

If you’d like to chat with someone about your personal situation, reach out to our team so we can connect you with a professional: https://www.retireright.com.au/get-help

Sign up to the Retire Right newsletter here: https://email.retireright.com.au/

🏡 Join the Retire Right facebook group: https://www.facebook.com/groups/retireright

To get help, and to check out our online courses, books, resources and downloads (+ our disclaimers and warnings), click here.

Any advice is general financial advice only which does not take into account your objectives, financial situation or needs. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you do choose to buy a financial product read the product disclosure statement (PDS) and target market determination (TMD) and obtain appropriate financial advice tailored to your needs. Symo Interactive Pty Ltd trading as Retire Right Australia & Glen James are authorised representatives of MoneySherpa Pty Ltd which holds financial services licence 451289.Martin McGrath, Financial Edge Group and their employed financial advisers are authorised representatives of Synchron Advice AFSL 243313.

Hosted on Acast. See acast.com/privacy for more information.