What needed to be done
Vanessa already had her priorities in order, and her children’s education and well-being were at the forefront, so the Future Assist team’s first point of call was to help Vanessa step back from her situation and begin crafting her roadmap.
We began with budgeting, cash flow management, debt management and a restructure of her mortgage. Then we put a risk strategy in place to make sure that her children were financially taken care of should anything ever happen to her. This was especially important as one of her children had a disability.
It was then time to tackle Vanessa’s debts. Our team helped to negotiate lower rates and consolidate her debt with her lender, reducing her yearly repayments by more than $20,000 and opening up her cashflow.
Then it was time to look ahead, now that Vanessa was free from a negative cashflow position and she could finally begin thinking about her family’s future without worry. With extensive budgeting and saving our team were able to create a surplus for future growth and begin to build an investment strategy in asset classes that she was comfortable with.
These investments would help Vanessa kick off her plan of being able to fund a retirement filled with travel both domestically and abroad.
Today, Vanessa keeps going from strength to strength. In 2017 she kicked off her investment property portfolio and by 2019 she had extinguished all her debts. She has also been able to purchase a new car, and was able to afford to send her children to private school and onward to university.
Once a daunting prospect, now when Vanessa looks to the future, she feels uplifted. Her focus now is growing her investments to fund the retirement she has always dreamed of. One filled with overseas and domestic travel.