Peter & Karen's story

Karen and Peter

Karen and Peter first came to see a ClearView Financial Adviser when they were a year away from retiring. They were both aged 64.

Reviewing their situation

The ClearView Financial Adviser reviewed their financial situation and estimated that they needed an income of $25,000 a year. He was able to assure Karen and Peter that this figure could be met.

This was through a combination of Centrelink entitlements, income from the investment of available super funds, and investment income from $30,000 they had saved in various bank deposits and other investments.

Handy tax rebate

Karen had very little super and had stopped work. To compensate for this it was decided that Peter should invest $10,000 into a super fund in her name and consolidate some other small amounts of super into the same fund, ready for her retirement.

Because the contribution was in Karen's name as a spouse contribution, Peter received a handy tax rebate of $540 that financial year.

A happy retirement

Peter retired when he turned 65, and his available super funds of about $94,000 plus Karen's super of $23,000 were invested in the ClearView Pension Plan under the 'cautious' investment option.

This provided them with a yearly income of $7,650.

Combined with their full Centrelink entitlement and returns on their bank investments, Karen and Peter's income now exceeds their target of $25,000 a year, with no tax or Medicare liability.

Your ClearView Financial Adviser will help you work out what's right for you.

Customers' names have been changed to protect their privacy. This story has been compiled using real life situations experienced by our advisers to illustrate what ClearView Retirement Solutions could do for you in the current legal and economic climate. To protect their privacy, names and identifying details have been changed. Neither the full basis nor all assumptions of their recommendations are disclosed. The information contained in this material is based on laws applicable as at July 2007 and legislative changes may have occured since that date.