In our Financial Game Plan Illustration, Martin and Tova had mortgages of $1,461,870 on their Paddington home, $218,777 on Tova’s Coogee Apartment, and $1,100,000 on their new Marrickville apartment. In total they had mortgages of $2,780,647 which was a major hurdle to them achieving their life aspiration of retiring in the next 10 years.
At their current rate of repayment, we calculated that Martin and Tova would still have debt of $1.5 million in 10 years, which was a major reason for their $31,000 per month cash flow deficiency should they choose to retire in 10 years. Martin and Tova’s Financial Game Pan provided a seven-step strategic advice to implement over the next 10 years.
The strategic advice would enable Martin and Tova to have paid out their mortgages within 10 years, and accumulate an additional $1.9 million in wealth than if they had continued with their current direction.
By following our strategic advice, they should have a positive monthly income stream of $31,250 in 10 years’ time to meet their desired living needs and annual overseas ski holiday costs.
Through professional advice on managing debt, Martin and Tova would be debt free in retirement, and instead of having a monthly cash flow deficiency of $31,457 they would have a positive monthly income stream of $31,250 to meet their living needs.
By utilising and following a personalised Financial Game Plan prepared by Lanham, clients can enjoy a life of debt-free or severely reduced debt, so they can achieve their life aspirations without the stress of outstanding mortgages or unnecessary financial obligations.
We have been using Peter’s expertise in all things financial since 1990 and have always been impressed by his diligence, honesty and integrity. Our financial goals are on track under his care and we are always confident that he has our best interests at heart when making recommendations and investment decisions. We can highly recommend Peter and his dedicated team’
We have been clients of Peter for many years now. He has always given sound information in his newsletter on the performance of our investments and made appropriate suggestions as to and when they should be changed to ensure that they are performing to our needs.
I am a retired company accountant and have been comfortably living off reasonable interest and dividends until recently. A friend recommended Peter so we sought his advice to deal with the current and probably long term dilemma of low interest rates. Peter has provided my family with invaluable advice for the management of my investments both inside and outside Super.