Real story Early retirement for overseas travel

Susan and Valerie* are in their early 50s and have one child who has just finished university. Susan works is a manager for central Government while Valerie is an IT consultant.

Financial situation

The couple owns a $1 million family home and has a $600,000 rental property with a $100,000 mortgage. They have $300,000 in savings and Susan has $150,000 in KiwiSaver while Valerie has $30,000.

Lifestyle goals

Susan and Valerie plan to retire by 60 and intend to save $120,000 annually now so they have an annual income of $120,000 in retirement.

They are both very much enjoying their professional careers but also love overseas travel, so travel when they can. They will probably keep working to some extent, albeit flexibly, after retirement but want a lot more time for travel and hobbies.

How Bloomsbury helped

We restructured their investments and discussed future plans for their rental property and intentions for retaining and eventually selling, to release funds.

Result

Susan and Valerie can be happy working now, knowing that they are going to be able to start winding back at 60 and enjoying time together travelling.

* Names have been changed to protect privacy