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Steven & Monica Jurcevic

 

How a Family of Five Overcame Their Fear of Debt and Used Clever Financing to Create $768,000 of Equity in Just 5 Years.

BACKGROUND

Stephen and Monika Jurcevic were referred to Wealth For Life back in 2013. At the current ages of 43 and 44 respectively, both have taken a very sensible and planned approach to building wealth and retirement. Residing in the northern suburb of Diamond Creek with their three children, Stephen is a Carpenter and Monika works part-time as a security guard and looks after the kids. With a combined family income of approximately $120,000 both were still aware that they needed to do something with their money having realised that working 9 to 5 for the rest of their lives was going to leave them well short come retirement.

CHALLENGE

Having never tried their hand at investing and being raised to believe that all debt was bad, made it extremely difficult for them to trust anyone suggesting anything contrary to their strong beliefs. Whilst their house was paid off and neither had any debt, both knew that they would not be able stop working unless their money started working first. This left them extremely conflicted and anxious to say the least. Trust an advisor that you barely know or listen to what mum and dad had engrained in their subconscious their entire life?

SOLUTION

We designed and built a financial model that took into account the next 20 years of their life addressing their financial goals and focusing on property growth, working income, inflation, tax and depreciation, expenses, debt servicing and most importantly a passive income that no longer relied on either of them to be working again for a living. After signing off on this, we commenced by putting together a finance structure that gave both Stephen and Monika peace of mind and comfort that their home would be protected from any investment activity that they were about to undertake. With the aid of our financial planning team, Stephen and Monika invested in two properties using their home as security to for one property and the other was purchased via a newly set up Self Managed Super Fund (SMSF). We used the savings that they had to offset the debt now accumulated against their home (still giving them access to their savings in case of an emergency whilst reducing their repayments for their investments when coupled with tax credits). The investment property that used their home as security cost them $28 per week in the first 12 months. They loved the fact that they could still access their savings and their lifestyle was not effected at all as part of this process. We took out appropriate insurances to protect the family, assisted them in finding a good accounting firm to look after them moving forward and used our property management team to look after their high calibre, high performing real estate purchases. It was the use of clever financing strategies that gave Stephen and Monika control of their money and not the banks. To this day, having accumulated an additional two investment properties, they will tell you that their lifestyle has not been compromised, whilst their financial future is becoming something that they never ever dreamed of.

RESULTS

CONCLUSION

With the guidance of Wealth For Life, Stephen and Monika have been able to secure their financial future and that of their three children. As parents, what could be more important than knowing that your children are taken care of.

“We have just completed handover of our fourth investment property, within approximately 4 years, acquired through Wealth For Life Institute. As with our first purchase, we were introduced to the investment through the company director – Anthony Peluso – who was not only engaging in assisting us with our goal in purchasing this second property but completely candid and forthcoming with all phases of this investment. Once the initial transaction of the property was secured, we were exceptionally fortunate to have Ms Akini Thotage retained as our Client Experience Manager. From the onset, Akini was abreast of all aspects of the procurement of this property, including the payment of our builder’s invoices, to obtaining insurance quotes and securing tenants into this new property. Akini took the management of the building process and relieved us of any apprehension that comes with such a considerable purchase. She was always very professional and always willing to clarify any queries we may have had. When dealing with Akini, she always made you feel like you were her only client as she could immediately identify and provide information regarding any part of our building process and she would regularly contact us with feedback and updates. I look forward to future investments we may attain in the future with the Wealth For Life team, in particular Anthony and Akini.”

Steven and Monica Jurcevic

Investors and Clients

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