Case Study
Professional Family
GROWING YOUR FAMILY AND GROWING YOUR WEALTH
At Six Pillars we understand the pressures day-to-day life, including taking care of your children and managing work pressures often get in the way of keeping on top of your finances. As a result, reviewing your finances and ensuring that you are on track towards your goals is often set aside. We offer to assist you with the ongoing management of your finances whilst providing you with direction allowing you to continue to focus on what is important.
Working Couple - Raj and Deepa
Current Circumstances
Raj is 41 and Deepa is 39 and together they have twin girls Ashley and Kate aged 4. Raj is a senior accountant in a construction company earning $170,000 per annum whilst Deepa is an analyst earning $190,000 per annum. They both bought their first home four years ago and due to growth in the market and savings that they have worked hard to set aside, they are now able to consider their next move. They both also received a tax bill in their last return and would like to consider avenues to reduce this.
They reached out to Six Pillars for guidance on their upcoming plans and to gain clarity on how these decisions might impact their future. Initially, Raj and Deepa shared details about their current cash flow, along with information on the amount of their home loan, the applicable interest rates, and their repayment schedule.
During our initial conversation, we helped Raj and Deepa outline their short-, medium-, and long-term goals, while also estimating the associated costs for each objective. Additionally, we explored the relevance of a Self-Managed Super Fund (SMSF) and outlined the costs involved in establishing one, as well as the responsibilities that would be required of them.
Way forward
Following this, they were provided with recommendations on:
After this discussion, both Raj and Deepa felt relieved, as they now had a clearer understanding of how to achieve their long-term goals. They also scheduled future check-in meetings to stay informed about any changes in the investment landscape and regulatory environment that could impact their situation. These sessions will also provide an opportunity to address any personal changes and ensure that their long-term planning remains aligned.
At Six Pillars, we are committed to guiding you through the complexities that life may present, and we strive to be a valuable source of feedback and support when important decisions arise. We look forward to working with you.
Disclaimer: Six Pillars Wealth (ABN 68 682 649 538) as a Corporate Authorised Representative (001314068) and Laxmi (Lucky) Manna Authorised Representative (1002602) ; Lionel Iheanacho Authorised Representative (1002528)are authorised by Templestone Financial Services Pty Ltd (ABN 99 641 075 952) AFSL 523831 to provide financial services only. Any advice in this publication is of general nature only and has not been tailored to your personal circumstances. Please seek personal advice prior to acting on this information.