Dreams come true: a financial case study
- Financial Planning
The problem: Clare Schwartz found that in the latter years of work that she wanted to spend more time with her family but wasn’t in a financial position to be able to do so. She became a grandmother for the first time and wanted to go to Machu Picchu on a solo trip.
The solution: Lyle Greig is a certified financial planner from Bridges who predominantly advise clients on superannuation, investments, redundancy and retirement strategies and provides Clare with a forward thinking strategy.
“I first came to meet Lyle when I was looking at the possibility that I might be able to give up work - which I loved - but was really become all-consuming. I wanted to look at the idea of spending more time with my children. I also felt that while I kept teaching that it really impacted on what I could do.” Clare had an unexpected inheritance and that was when she became more serious about taking control of her financial choices. “I was introduced to Lyle and I found somebody here who’d really listen to my individual circumstances and my needs,” adds Clare happily.
An unexpected inheritance
“When Clare originally came to see us we wrote her a plan, gave her a recommendation on her superannuation and the way it should be invested,” says Lyle Greig, certified financial planner from Bridges. “We also advised her on how to invest the inheritance that she unexpectedly received. She took some long service leave and then retired about a year later. So we wrote another plan to commence an income stream and to provide for her retirement.” Roughly two years later Clare became eligible for aged pension. so once again, with a significant change in circumstances, Greig updated the plan helped Clare with her Centrelink paperwork.
Spending time with family and travel dreams
“When I retired, it fortunately coincided with the arrival, shortly after, of my first grandchild. Because my daughter and her family live away on the Central Coast, or in Newcastle, it did give me flexibility to travel. I could support her, in helpful way. The joy … it has been extraordinary.” While supporting her growing family has been important, Clare also wanted to live out a personal dream. “I had promised myself, years ago, that in my first year of retirement I would go on a trip alone to Machu Picchu,” she adds happily. “I think that balance of trying to live wisely within my means has not been a great problem. I think it’s the flexibility, where I really value the financial advice, that comes as circumstances change and still, yes, still with my plans of travel,” she adds. “I really do get a lot of satisfaction out of listening to clients like Clare who are obviously enjoying their retirement,” says Greig. “I’ve had a small part in that retirement and helping her achieve those travel dreams.”
Another exciting change
Three years ago Clare was offered a role at a community college and she decided to go back to work. “I’m still teaching at a community college and finding that, through Lyle’s advice, that I can keep that parallel,” she adds. “Having somebody that also realised that, hey, this is my future on the line,” says Clare adding that the financial wisdom she received and the peace of mind she felt was integral to her feeling comfortable knowing she was receiving the help she needed for the long haul. “It is really important to me to be able to keep my lifestyle, my options in travel, being able to support my children as well to a certain extent where needed. I’d certainly recommend Bridges.”
What dreams are you wanting to achieve? Tell us in the comments section below.