In today’s episode, Glen and Martin unpack a real case study of a couple who recently sold their business, were ready to retire and sought financial advice. They had wealth tied up inside their company, money in super and some big decisions to make about how to create a reliable retirement income. They cover:

👉🏾 background of the couple and the business they sold

👉🏿 why business sale proceeds often remain inside the company

👉🏻 reviewing structure: company vs trust ownership

👉 the strategies implemented

👉🏼 setting up account-based pensions to create tax-free income

👉🏽 balancing investment risk inside super vs inside the company

👉🏾 setting up a wrap account and drawing dividends from the company

👉🏿 planning concessional super contributions

👉🏻 two ways to take money out from your company

👉 planning non-concessional super contributions

👉🏼 coordinating advice between accountant + financial adviser

👉🏽 long-term strategy: running down company funds over time

👉🏿 the advice outcomes

👉🏾 why you may not want to close the company immediately

👉🏻 Martin's cost for the advice (once-off and ongoing breakdown)

Watch this episode on Youtube: https://youtube.com/playlist?list=PLQW_VRWNC0jR1KQDXi5pcXwREjc0pde9L&si=zIMg1Vow9SOhug_Z

If you’d like to chat with someone about your personal situation, reach out to our team so we can connect you with a professional: https://www.retireright.com.au/get-help

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Any advice is general financial advice only which does not take into account your objectives, financial situation or needs. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you do choose to buy a financial product read the product disclosure statement (PDS) and target market determination (TMD) and obtain appropriate financial advice tailored to your needs. Symo Interactive Pty Ltd trading as Retire Right Australia & Glen James are authorised representatives of MoneySherpa Pty Ltd which holds financial services licence 451289.Martin McGrath, Financial Edge Group and their employed financial advisers are authorised representatives of Synchron Advice AFSL 243313.

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