Client Story 1: Mark and Mary

Preparing for Retirement and Protecting Family

Background

Mark and Mary have been together since their school years. As they approached retirement, they sought clarity and control over their financial future. Referred by long time friends and fellow retirees, they came to EWK Private Wealth a few years ago with a goal: to retire within three years and ensure their financial affairs were in order, not just for themselves, but for an adult child who requires lifelong support.

Summary of Client Issues

The couple had six separate superannuation accounts, limited engagement with their investments, and lacked a clear strategy for retirement income.

Their primary goals were to:

• Consolidate their super into a more manageable and efficient structure.
• Retire all debts and generate an income of $100,000 annually in retirement.
• Retain their family home.
• Sell their investment property in a tax-effective way.
• Support their adult child by ensuring his long-term wellbeing.

Risks and Concerns

The financial complexity and lack of structure created uncertainty. Mark and Mary were also deeply concerned about the future care of their adult child. Although high-functioning and independent in some ways, he had never been formally assessed for support services like the NDIS. They had purchased a one-bedroom property in Mark’s name for their child, unknowingly incurring capital gains tax liabilities and missing potential stamp duty
exemptions available for people with disabilities.

There was also the emotional burden. Both wanted peace of mind knowing their child would be supported and that their affairs were in the hands of professionals who could guide them through the details.

The Reason to Take Action

A growing number of their close friends had already transitioned into retirement, and Mark and Mary didn’t want to delay further. They needed to know whether they could afford to retire and maintain their lifestyle, and whether their child could be better supported now and into the future.

The Outcome

EWK Private Wealth created a structured, step-by-step plan to:

• Consolidate all superannuation accounts and streamline investment oversight.
• Optimise retirement savings by making significant contributions in the lead-up to retirement.
• Manage the sale of the investment property in a tax-effective way, including strategies to reduce capital gains tax through personal concessional contributions.
• Explore government support services for their child, laying the groundwork for long-term independence and financial protection.
• Implement estate planning measures, including guardianship and legal documentation, to ensure continuity of care.

Today, Mark and Mary have clarity, confidence, and a clear path toward retirement. They are on track to meet their retirement income goals and feel reassured that their child’s future is being thoughtfully and proactively planned for.