Recently, we caught up with Tom & Rhonda, some of our very first clients. We checked in with them to see how Tom is feeling since achieving one of his major goals; Retirement. Tom was good enough to share his account and financial journey with you.
How long have you been a client at McQueen?
I have been a client for approximately 23 years.
What did you hope to get out of your relationship?
I was introduced to Angus when I moved to a new employer. He was young and seemed to know what he was talking about, so I thought I would give him a chance. I had some super and a self managed Superfund with cash in it. Angus spoke to me about personal insurance and my superannuation. At the time I was about 40. Angus was approachable and easy to talk to.
Highlights of the journey?
Angus was always happy to come over to the house, interested in our personal life and when we hadn’t finished chatting he would come with me in the car to the school to pick up the kids.
Through your advice journey what became the goal?
Over the years my key contact at McQueen changed and it was with Nowaki that I started talking about retiring. I wanted to retire with $500,000, at age 55. Having been invested through two big market crashes, I knew the journey was not going to be easy. Nowaki looked after our investments, ensured we contributed to our supernnuation and also mapped out our financial future to help us understand where we would end up.
When did you retire?
I retired in 2017 at age 63, Nowaki had told me at 61 and 62 that I could comfortably retire, but it was this year when I finally started to believe it and felt ready. Rhonda will retire at the beginning of this year. Whilst we may both continue to work in some capacity – it will be on our terms, at our leisure.
How did you feel when you retired?
Despite much preparation and discussion with the McQueen team, it felt really odd when I gave my notice, I was worried whether I was doing the right thing.
How did you feel on your last day?
My last day was a Friday, there was a dinner held the night before with the whole company. On the Friday Rhonda picked me up from work after my lunchtime usual pizza with the boys. I was with the company for 16 years, so felt quite emotional (without shedding a tear). They were like a family.
How are you feeling about retirement now?
I am now super busy; I mind my Grandson once a week, I have time to spend with my mother and mother in-law to help them through health issues and pursuit of their hobbies. I feel less stressed, although it is my nature to worry about money. I am not settled in yet and have not started playing any extra golf – something I hope to do more of once Rhonda also retires.
What do you value in your relationship with McQueen?
Trust. Friendship, I feel comfortable with the team.
Retirement is one of the biggest changes that you can make in your life. Done right it can be one of the best! Planning for retirement takes more than just financial planning; you need to consider what you will do with your time and in many cases how this will effect your spouse and family unit.
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