David and Linda were aged in their late 50's when they sought our advice nearly five years ago. Having just retired they faced a significant turning point in their lives. While they looked successful, having acquired assets in excess of $4m, they were facing significant stress arising from being 'asset rich and income poor'. Linda was particularly distraught as they had just $17,000 pa income and their bank accounts had fallen to less than $2,000.
The need for financial restructuring was created by the tax and investment inefficiencies in staying as they are. In particular, they had a half completed 'dream home' and vacant land that were inefficient uses of capital.
Since seeking our advice, David and Linda have been able to achieve an annual income stream in excess of $150,000 and have paid no tax over the past four years. Their financial structure ensures that their wealth continues to grow, enabling them to achieve their goal of leaving a lasting legacy.
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© Lanham Investment Advisory Pty Limited, 2006. All rights reserved. Lanham Investment Advisory, AFS Licence No. 222 769
