Case Study 1: Young Accumulators

Situation:

When Ben and Abbie first came to Hunt Wealth they were in their late twenties, both working full-time and earning good incomes. Ben had two super funds and Abbie had three.  They had limited savings and did not have any personal insurance in place. They were about to make a big lifestyle change: subdividing their home and taking on substantial debt.

How We Helped:

As a first step, we discussed their cash flow and debt position. We then set about building a cash reserve to protect them during the period of ensuing change.  Their super arrangements were also consolidated and redirected into higher growth investments.

The need to protect their current position, as well as their future plans, was also addressed.  We put a comprehensive personal insurance plan, including income protection, in place to ensure that no matter what happened they could continue to build and grow their wealth.  Whilst there was a cost associated with putting this protection in place, it was structured in such a way to minimize upfront expenditure.  And considering that Ben suffered a personal injury (broken leg) which caused him to be absent from work for just over two months, the cost of personal insurance turned out to be a valuable investment – allowing Ben and Abbie to maintain their income during a period in which their debt and associated repayments where at their greatest.

Ben and Abbie made it through what may have been a very stressful and taxing time unscathed.  They know where they are heading and they have a plan and the right arrangements in place to get there.

Note: The names of the individuals involved have been amended to protect their privacy.