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Finding the right strategy

Managing your own super can be a great way to take control of your financial future – as long as you understand the rules. That’s where Trevor Thompson from Insight Wealth Partners can help, by sharing his experience, expertise and technical know-how to help you make the most of your self-managed super fund.

Playing by the rules

Barry Silverstein, a diversional therapist, and his wife Eva, a teacher, first got in touch with Trevor Thompson in 2014. They were starting to think about their retirement, and wanted to know if they could set up a self-managed super fund (SMSF) to invest in property.

“I became aware of the possibility of buying property through an SMSF, so we wanted to know whether we could do this for our second investment property,” Eva said.

The Silversteins planned to rent the property to their son while he was at university, before selling their current home and moving into the property when they retired. Luckily they spoke to Trevor when they did, as he pointed out that their proposed strategy wouldn’t comply with the rules around self-managed super. Instead, he showed Barry and Eva how they could still set up an SMSF, with a compliant strategy for investing.

“Trevor asked about our intentions for the fund, how much income we were hoping for and how we felt about security,” Eva said. “It was about getting to know us and discussing our options.”

“At our stage in life we didn’t want to gamble with our retirement funds and we were wary of the stock market,” she added. “We took comfort from the fact that Trevor could tailor a portfolio that gave us capital growth, but concentrated on blue-chip shares to make us feel more comfortable.”

Approachable and patient

Trevor explained to Barry and Eva how they could set up an SMSF and apply a transition-to-retirement strategy to draw a pension from their super. While they were both still working, they could then use their pension payments to cover the loan on their investment property.

Once Barry and Eva had agreed to the strategy, Trevor helped them establish their SMSF. By following Trevor’s advice, Barry and Eva now have a compliant SMSF, and their super is invested in shares and managed funds. Trevor has ensured that their money is invested conservatively, in line with their risk appetite.

With the Silversteins approaching retirement, they plan to stay in close contact with Trevor regarding their investment choices. Trevor has also advised Eva on her options for boosting her super further through salary sacrificing.

Throughout their financial advice journey, Barry and Eva are pleased with the guidance Trevor has given them, which has helped them make the right financial choices for their future.

“Trevor is extremely passionate about what he does and always gives very clear advice, which makes us confident in our decisions,” Eva said. “He’s also very approachable and patient with our questions – and yes, we tend to ask quite a few!”

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