Seeking Input on Financial Planning Amidst Divorce and Considering 'Super Guy'

[lush]

Hello Money Master Minds (MMM's),

It is with a heavy heart that I share the news of my that my wife and I of 20 years will divorce. Despite the circumstances, my primary concern is ensuring that my soon-to-be ex-wife can continue to lead the life she desires. To achieve this, I've put together a financial forecast for my peace of mind and would greatly appreciate the community's expertise in giving it a thorough sanity check. You can find the details on this Google Sheets link: https://docs.google.com/spreadsheets/d/16bWoDpl2RZ7hiAaN1sYCXd3fGzUAQ52OfoJOaK8saTg/edit?usp=sharing



For context, my wife is a 52-year-old woman, and here's a brief overview of her current financial situation:

- She prefers not to work and aims to rely on VAS (wholesale fund) distributions/returns and savings until the age of 60.
- The current total investment in VAS is $850k, with an actual market value of $950k. Projecting a 4% yield from VAS, the expected annual income is $34k. As this is a joint portfolio, the income return will be divided, resulting in $17k per person. The hope is that the VAS portfolio, established in 2019, will benefit from compounding effects, and funds will be drawn down from 2026 to 2030 as part of the divorce settlement.

To optimise her retirement strategy, the plan is to use savings to supplement superannuation. Here's the breakdown:

- Leverage existing carry-forward concessions  total 23k for a tax benefit.
- Contribute $27,500 each year for the next two years for additional tax benefits.
- Consider non-concessional top-ups until the age of 59, with careful timing to avoid the $500k limit (her current super is at $380k), ensuring contributions of $27,500 for tax benefits.

I am seeking insights, suggestions, or experiences from the community that could refine and improve this strategy.

On a related note, I've come across 'Super Guy' at https://superguy.com.au/advice-process-video/ and am considering seeking advice from his team. The cost is approximately $4.5k. Does anyone in this forum have experience with him or his team? They seem to offer straightforward advice for those in their 50s-70s regarding retirement planning without ongoing fees. I would appreciate any insights.



Thank you in advance for your assistance, and I value the support of this community during this challenging time.

[Ozlady]

So sorry you and your wife are going your separate ways but want to commend you on being so generous minded to plan for your wife...

Just had a cursory look at your detailed spreadsheet...

My thoughts...

No matter how you cut and dice , your wife's planned expenses divided by her net investible wealth comes up to about 7% ?   ( not including her planned apt and car purchase)...

this to me is too high?


Do you have kids ?  If not may i be too bold to suggest that her planned apartment purchase price of close to a mil is a tad too high? but perhaps there are other reasons that you choose not to disclose...

Drop that by a qtr or by half and see how you go with using that difference to pour into investments to provide more of a cash flow...

All the best.

[lush]

Hi Oz lady,

I appreciate your kind words and thoughtfulness. To elaborate on the apartment's cost, it's primarily influenced by my wife's preference to reside in the inner west of Sydney. While this market tends to be on the higher side, the price for a decent 2-bedroom (top floor) apartment is somewhat standard, not overly generous.

As for the expenses, they may seem higher than average because I've factored in travel costs and anticipated medical expenses. This approach aims to provide a degree of certainty regarding the longevity of the available funds. Just to clarify, there are no children involved in this scenario.

This comprehensive financial analysis has been enlightening. I encountered challenges, particularly in calculating inflation, but I believe I have a more accurate estimate now. Another aspect that posed difficulties was understanding the real costs and returns of superannuation. Consequently, I am seriously contemplating maximising the next 10 years before gaining access to my super at the age of 60. I'm currently with HostPlus, and their recent introduction of index balanced and index high growth funds with minimal costs has prompted me to seriously consider transition from my existing balanced fund to the index high growth option, adopting a 'no regrets' attitude that I believe could prove beneficial.

Once again, thank you for your feedback.

[lollylegs]

Hello Money Master Minds (MMM's),

.

On a related note, I've come across 'Super Guy' at https://superguy.com.au/advice-process-video/ and am considering seeking advice from his team. The cost is approximately $4.5k. Does anyone in this forum have experience with him or his team? They seem to offer straightforward advice for those in their 50s-70s regarding retirement planning without ongoing fees. I would appreciate any insights.


Thank you in advance for your assistance, and I value the support of this community during this challenging time.

I was following SuperGuy before we retired & we used their financial planning service Toro Wealth at the time, which was excellent. Cost was $5000, they saved us more than.that in the first year . I met with Shane via Zoom as they are based in QLD - he was very easy to work with and took time to understand what we wanted in our retirement.  The advice enabled me to retire 9 months earlier than planned, with an income of $65,000 with projections up to age 105 ( I was worried about running out of money!). Can absolutely recommend Shane.  I noticed in looking at your ad that the have different planners, not sure if they are still associated with Toro Wealth or not now?

[lush]

Hello Money Master Minds (MMM's),

.

On a related note, I've come across 'Super Guy' at https://superguy.com.au/advice-process-video/ and am considering seeking advice from his team. The cost is approximately $4.5k. Does anyone in this forum have experience with him or his team? They seem to offer straightforward advice for those in their 50s-70s regarding retirement planning without ongoing fees. I would appreciate any insights.


Thank you in advance for your assistance, and I value the support of this community during this challenging time.

I was following SuperGuy before we retired & we used their financial planning service Toro Wealth at the time, which was excellent. Cost was $5000, they saved us more than.that in the first year . I met with Shane via Zoom as they are based in QLD - he was very easy to work with and took time to understand what we wanted in our retirement.  The advice enabled me to retire 9 months earlier than planned, with an income of $65,000 with projections up to age 105 ( I was worried about running out of money!). Can absolutely recommend Shane.  I noticed in looking at your ad that the have different planners, not sure if they are still associated with Toro Wealth or not now?

Thanks Lolly Legs. Still looking around for a potential planner, so this is very useful information. Sounds like you may have just done a one off session to get the overall statement of advise and it worked for you. Recommendations and experience in this can't be underestimated.