High earning clients, in their late 20’s, seeking advice to develop sound financial habits to save for their first home.
Alex and Zoe were in their late 20’s when they approached us for advice relating to a possible home purchase. They are high income earners for their ages, working in marketing roles, with an ability to earn significant bonuses.
Unfortunately, as they readily acknowledged, the disposable income had definitely been disposed of! A great lifestyle, but no savings and it now simply seemed too daunting.
Together we set out some short, medium and longer term goals. We looked at the probable costs of housing and family, future education expenses and possible extended periods out of the workforce for Zoe.
Once quantified, we looked at ways in which savings could be made, without completely destroying their current enjoyment!
Having the situation quantified acted as a great motivation for Alex and Zoe. Three years later they had accumulated in excess of $200,000 and had willingly foregone some of that former lifestyle in order to achieve goals that they had set for themselves.
In addition, we provided them with referrals to quality mortgage brokers, accountants and solicitors to ensure they obtained appropriate advice on lending limits, taxation and estate planning.
We also ensured they had protected their most precious assets – their incomes!