Client Story 6: Joy

From Financial Struggle to Peace of Mind and Autonomy

Background

Joy became a client of EWK Private Wealth shortly after her mother engaged the firm in 2014. Present at her mother’s first meeting, Joy observed the care and clarity provided and decided to seek help with her own financial affairs. 

Summary of Client Issues

Joy was retired and living modestly, relying on a small superannuation pension while struggling with cashflow. She had inherited two commercial properties years earlier but had never seen meaningful returns; paying high body corporate fees and rarely receiving rent.

With little investment oversight and unreliable financial advisers, Joy was living on less than $30,000 per year and worried about how long her money would last.

She loved her home, her garden, the theatre, and her family—but was unable to enjoy them fully due to financial stress and uncertainty.

Risks and Concerns

Joy’s key concerns included:

• Poor property investments draining her limited cashflow.
• Lack of continuity or support from her previous adviser group.
• Feeling unsure about her long-term financial stability.
• Messy tax affairs and potential errors in prior returns.
• No plan for how to enjoy life without fear of running out of money.

The Reason to Take Action

Joy knew her financial situation was unsustainable. She wanted to live modestly but comfortably, with enough certainty to travel occasionally and give to causes she cared about—without ever relying on Centrelink. Coming from a proud, self-reliant family, this independence was non-negotiable.

EWK Role

EWK took immediate steps to restructure Joy’s financial affairs:

Property Strategy:

• Partnered with a trusted property advocate to sell the underperforming commercial properties (at break-even), freeing Joy from years of financial burden and emotional stress.

Superannuation:

• Consolidated her retail super and invested the property sale proceeds into a self-managed super fund (SMSF), enabling her to draw a reliable income stream.

Ongoing Income and Lifestyle:

• Set up an account-based pension providing $45,000 annually, allowing Joy to enjoy life, travel, and contribute to charities. Her income now aligned with her values and lifestyle.

Investments:

• Maintained a direct share portfolio that Joy felt comfortable with, echoing her family’s investment history and allowing her to stay connected to something familiar.

Tax and Estate Efficiency:

• Ensured no personal tax was payable annually, while her SMSF receives ongoing tax and GST refunds. Managed estate planning for her late mother and structured Joy’s future inheritance (approx. $1.1m) for ongoing tax efficiency.

Outcomes

Joy now lives life on “autopilot.” She has consistent income, financial security, and complete peace-of-mind. She travels, gardens, sews, bakes, and spends time with family—free from the financial stress that once defined her retirement.

With EWK’s ongoing support, her future inheritance will be integrated into her SMSF and a testamentary trust, ensuring the assets are tax-efficiently managed for life and passed on to nieces, nephews, and causes she cares about.

Joy often says working with EWK was one of the best decisions she ever made; “worth every penny and more.” Her story is a testament to what can happen when trusted advice transforms not just numbers, but lives.