Real story Philanthropic focus

Tony and Elizabeth* are in their early 60s with adult children in their 20s who are just finishing tertiary study. Tony is a barrister and Elizabeth is CEO of a community organisation.

Current financial situation

Tony and Elizabeth earn in excess of $1 million annually, are debt free and own their home valued at $700,000 along with two $600,000 rental properties, and inherited farmland worth $2 million. They also have a diversified portfolio of direct shares worth about $2 million but have been too busy over the last decade to review or manage this portfolio.

Future lifestyle goals

The couple wants to retire by 65. They feel they have helped their children enough but might sell their rentals to assist the children into their own homes in the future. They do not have regular savings but will sell down other assets to assist with a planned annual retirement income of $100,000.

Socially responsible investments are important to Tony and Elizabeth and they also want to contribute to their local community. They want to avoid any investments that include arms or nuclear weapons manufacturing, tobacco and gambling.

How Bloomsbury helped

We helped organise and rationalise the Tony and Elizabeth's complicated and neglected financial affairs. We traced and identified all foreign and local investment assets, and consolidated information together then arranged for a tax specialist to review affairs and ensure all became compliant.

We prepared an investment strategy to both provide for their retirement income needs and philanthropic community pursuits, without jeopardising either their own or their children's financial wellbeing. We were able to increase the expected returns from their investments by $26,000 per annum.

Result

Tony and Elizabeth's affairs are now all in order. Elizabeth now has faith and confidence that their finances are being properly managed and easy to understand and identify. The couple will now focus on their final few years of work and prepare for a future of interesting charity work supporting underprivileged people in their local community.

* Names have been changed to protect privacy