Case Study: Existing Client Review Meeting

There are many reasons our clients come to us for advice, from wanting to develop good money habits and build financial security, attain their dream home while travelling the world, or to live a life not limited by money. And we’ve been lucky enough to have helped them make their goals a reality.

So whether you need to get back on track and in a good place with your finances, plan for the next big life event or you’re wanting to purchase property or invest to build your wealth, we have the tools and know-how to help you make it happen. Take a look at this recent case study of an annual review meeting with an existing client.

Had an annual review meeting with a client this week who has recently purchased a home with his fiancé and has experienced significant growth in his business in the past 12 months. The client is 30 this year, is in Real Estate and has an income >$300,000/annum.

The purpose of this meeting was to update his strategy based on his new financial position and the updated goals list that he and his finance now wanted to work towards.

This goals list included

  • Paying for their wedding at the end of 2022
  • Completing $450,000 worth of renovations on their home over the next 5 years
  • Build a passive income from their investment portfolio – to reduce the need to work so hard in his business in the next 10 to 15 years
  • To allocate $10,000/annum towards annual travel

Our updated strategy included

  • Allocating an extra $1,000/week to their new mortgage
  • Increasing their monthly contributions into their share account to $2,500/month
  • An allocation of $833/month for their annual holiday goal
  • Contributing the maximum contribution amount into super each year for the business owner

Outcomes of the proposed strategy

With the proposed mortgage strategy in place, our client will pay their variable mortgage of $480,000 in 7 years & 1 month (total repayment amount of $526,718) not 29 years & 10 months (total repayment amount of $687,364) – this strategy will save them $160,646 in interest.

Clients net asset position will increase by $566,215 over the next 4 years if our proposed strategy is implemented and maintained

Ryan Porter is a Wealth Coach at Catalyst Wealth Group. His mission is to help his clients achieve financial success and live their ideal life.

Any advice or information in this publication is of a general nature only and has not taken into account your personal circumstances, needs or objectives. Because of that, before acting on the advice, you should consider its appropriateness to you, having regard to your objectives, financial situation or needs.