Christine and Jono
CREATING THE RIGHT INVESTMENT STRATEGY
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,” says Christine. “That propelled us to get professional advice to find out how our money could work for us.”
outcomes from the initial advice
- Helped Christine and Jono understand where their money was going, so they could start being smarter with their spending
- Modeled multiple investment strategies, and consequently landed on a hybrid strategy resulting in the purchase of their first family home
- Implemented insurance and superannuation strategies allowing Christine and Jono to protect their existing financial position whilst significantly reducing superannuation fees
it’s never too early to start planning for your financial future.
Taking that first step
After comprehensively researching financial planners, Christine booked an initial consultation with our director David Hancock and Kathleen Astor our senior paraplanner.
Christine says, “We didn’t want to use the big four banks. We wanted to align with a planner who could give us the fairest and more independent advice.”
During their first meeting, they could see that David and Kat 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. We had a lot of common ground,” says Christine.
Working out where to invest
David, Kat, Christine and Jono gathered around the table for a series of meetings. As David and Kat got to know them, their financial position and their goals in detail, they 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 they had some homework to do.
Christine and Jono worked diligently on this homework, and between them and our team of experts, we:
- Identified their key goals and aspirations, along with their current and projected income/expenses (assumptions took into account potentially starting a family)
- Engaged mortgage broking partner to ascertain what would be possible from a borrowing perspective
- Modelled out 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 decided on a hybrid approach, and
- Identified and implemented insurance and superannuation strategies to protect their financial position and reduce their superannuation fees significantly
“One of the most eye-opening experiences was having to itemise all of our spending over a month. Understanding that was pivotal to knowing where our money was even going. It was a necessary process and something we wouldn’t have done unless Dave and Kat made us do it. While it was a lot of work, it was only done once and was absolutely necessary to set us up financially in the best way for the rest of our lives,” says Christine.
Working together over six months, we built Christine and Jono’s confidence in their financial position. Their confidence to invest came from:
- knowing their numbers (starting with the most basic incomings vs outgoings)
- seeing through our financial modelling process how various investment scenarios (e.g. investing in property vs investing in shares) were going to play out over the next five to ten years
- understanding how beneficial a proposed investment was for them and that they would be able to stay on top of it
- having a trusted relationship with us. It wasn’t all about the maths, it was also about having the comfort and support through their decision-making process
Through our systematic process, David and the Montara team narrowed down the options to buying a home or investment properties. Christine and Jono chose to buy a home.
A beautiful new home
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 of Sydney to buy a home. They checked in with David 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,” says Christine.
“We felt the Montara team was really rooting for us throughout the entire process — David was more like a good mate who wanted the best for us, not just a planner. We wouldn’t have bought something as beautiful or as soon as we did without David and Kat’s help. They gave us the confidence, they were really instrumental,” says Christine.