Let me share the real story of my client – a 35 years old lady/single mother who went through this recently.
My client, a middle-aged lady goes through separation and she is at the start of a financial downwards spiral. Because of this unexpected separation – she is now renting, get a lower income as she has to work part-time so to look after her young daughter, and a retirement where there’s never enough for even a good interstate holiday.
Her husband was the breadwinner and was also the financial decision-maker. So when she lost her partner – either separation or accident, in her case the husband walked away from her to another woman and left her with a 1.5 years old daughter.
Suddenly she found herself …
• Without the breadwinner and biggest income earner
• Without a chunk of cash from her divorce settlement
• Only a small amount of child support
• Unsure what she can do and how to get herself back from this setback
Here’s what her future was looking like.
She was renting at the time since her house had been sold as part of her divorce settlement. She had been facing higher rents each year too and moved from house to house every time a landlord had a change of plans. This became harder when her kids were at school age, as she had to change school, adjust to a new environment each time mum moves. So she decided to take a different path after knowing my services through a friend who is also a client of mine – here’s what we did for here.
We helped her reducing her monthly repayment by negotiating and clear her credit file. This gave her the ability to save and can come out with only 5% deposit so it satisfied the lender’s requirement and allowed her to go to mainstream lenders for support. Next, we worked out a strategy to help her build her asset/wealth through real estate. We hunt property that has the right combination of cash flow, growth, and within the borrowing capacity of the client.
Now she and her daughter have a brighter financial future.
She is growing a portfolio of shares and almost own her own home outright – left only $180K loans as we did the last Sept 21 review. She also building cash flow from various sources that can support her kid’s high school education fees and other expenses.
Services and people who we help.
We have been helping vulnerable divorcees/single parents – not just women. Men as well.
If you’ve found yourself in this situation, please press the link below to discuss options – we help you identify your financial goals, explore options, and what are the next steps you shall do to achieve your goals.
I am offering complimentary review for the month of Oct – Dec 21 which is usually $880, and it is free for you if you click HERE and provide details for us to review.
For any property, loan and finance questions, please call Jenny Oh on 0408 798 899