Financial Service Guide
Our Financial Services Guide provides further information about us, the services we provide and our fees. As Mary Campbell and Gold Leaf Financial Services are Authorised Representatives of Affinia Financial Advisers, the Affinia Financial Services Guide applies.
Mandy and Scott's Vineyard Dream
Mandy and Scott always dreamed of buying a block of land in the Yarra Valley to start their own boutique winery. They also wanted to be close to nature and grow organic fruit and vegetables. A few years ago, Mandy received an inheritance of $2.5 million from a family member. She wanted to make the most of this money and prepared to purchase a vineyard. Although they both enjoyed their jobs, which were highly stressful, they wanted to have a change of pace with more quiet surroundings in 7-10 years’ time. Mandy and Scott live in the inner northern suburbs of Melbourne and have a $600,000 mortgage. They researched the price of a vineyard and they would need approximately $3.1 million. When they purchase the vineyard, they would like to keep their current home as an investment property.
They met with a Gold Leaf Financial adviser who talked to them about their goals and dreams and recommended they repay their existing home mortgage in full. This would mean they saved on bank interest on the mortgage and they then had additional savings each year. Mandy and Scott felt happy to be debt free.
With the remaining funds of $1.9 million the adviser recommended they start an investment portfolio in a range of assets such as shares, bonds and listed property. This was in line with their personal ethical values and would grow over time. The portfolio was structured in a tax effective way. Their adviser also recommended they add savings of $4,000 each month into the investment. When they received bonuses at work, they would use part of the bonus for a holiday and the remainder was deposited into the investment portfolio. Calculations show that just over 8 years the investment portfolio will be worth approximately $3.6 million*.
They are now on track to make their vineyard dream a reality.
*Note: Monthly savings $4,000 per month, combined bonus of $7,000 per year. Assumed average investment return of 7.2% pa.