Christine & Jono 29 & 32, Sydney
Purchase a place to live
- Five years later have bought and built substantial equity in their home and investment property and have continued investing into a share portfolio
- Considering making the next step of upgrading to a larger home as they grow their family thanks to the equity built up in their current properties
- Feel comfortable to continue to take these steps because they have insurance to protect them
Understanding their situation
When Christine and Jono first came to Montara Wealth, they’d saved well, but they weren’t confident they had saved enough to start investing. And if they had saved enough, they didn’t know where best to invest that money to achieve their goals. What they knew was that they’d seen their friends getting ahead while Christine and Jono had been sitting on the sidelines trying to work out their investment options.
“We felt we had a lot of money in the bank that was just sitting there and doing nothing. That propelled us to get professional advice to find out how our money could work for us.”
After comprehensively researching financial planners, Christine and Jono sat down with Montara.
“We didn’t want to use the big four banks. We wanted to align with a planner who could give us fair and independent advice.”
As we got to know Christine and Jono, their financial position, and their goals in detail, we were able to propose the investment options and show Christine and Jono how they would work. One of the initial steps was gathering the financial data we needed from Christine and Jono to run our financial models. This meant we were able to:
- Identify their key goals and aspirations, along with their current and projected income/expenses (assumptions took into account potentially starting a family)
- Engage a mortgage broker to work out their borrowing capacity
- Model the various investment strategies that included the purchase of a $1.5m family home versus renting and building an investment portfolio, with the clients ultimately deciding on a hybrid approach, and
- Identify and implement insurance and superannuation strategies to protect their financial position and reduce their superannuation fees significantly.
During our first few meetings, they could see that David understood their motivations and reservations around money.
“We really liked their approach. Dave is incredibly knowledgeable in the market and drew on a lot of personal experience that was similar to our situation.”
With the injection of confidence that a solid understanding of their numbers gave them, Christine and Jono started going to auctions in the Inner West in Sydney to buy a home. They checked in with us regularly for negotiation and auction tips.
“Having Montara to check in with felt like we had a little cheer squad — we’ve done the numbers, stick to your guns and go for it”.
Through our systematic process, we narrowed down the options to buying a home or investment properties. Christine and Jono chose to buy a home.