Our client was referred to us because we have been his father's financial adviser for over 20 years. He previously had an average experience with an adviser at another organisation. He had been put off seeking any advice ever since.

As this client approached retirement age, there were concerns that something needed to be done to boost his superannuation as much as possible while he was working. He hadn't ever reviewed his superannuation and needed help understanding how it worked and how funds were invested.

His goal was to see whether it was too late for him to boost his super balance and what options were available to help his plans. He felt that with the cost of living going up, he really didn't have any spare cash available to add to his super and didn't think there were any opportunities for him.

As we have been his parents' financial advisers for over 20 years, and they're delighted with the service, he was encouraged to meet with us.

He knew from his parents' feedback that Financial Foundations had always looked after their needs and ensured everything was explained clearly so that they both could understand what was being implemented.

Although our client wasn't on a high income, there was an opportunity to ensure we could reduce his ongoing income tax while taking advantage of tax-free superannuation income streams.

He was still working full time, but we were able to implement a transition to retirement strategy to access part of his super tax-free while maximising his deductible contributions to super.

In doing so, we were able to bring down his taxable income every year and boost his super contributions every single year by approximately $10,000 per year, net of all superannuation taxes, while ensuring his monthly income was not impacted.

To see there was a solution to help build super whilst not needing to physically reduce any of his take-home income was something he didn't think was possible.

It was crucial to have effective strategies in place to capitalise on legislation, and he realised he should have met with us earlier. However, he also understood that it wasn't too late.

He now knows that every effort will contribute to his goal of having a more comfortable lifestyle in retirement.